Could amazon be to blame for a chunk of the losses . Amazon founder jeff bezos and billionaire bff Warren Buffett along with jamie dimon reveals a plan to revolutionize health care, and in doing so, put the entire Health Care Sector in the emergency room at this hour. Multiple subsectors from insurers to drugstore chains to big pharma painting the broader markets a deep shade of blood red. President loves to watch the stock market, not sure hes loving this first major selloff of 2018 coming just as he gears up to deliver very first state of the Union Address to the American People, scheduled for six hours from now. We know that he is rehearsing for the big speech as we speak. No doubt ready to take a big victory lap as the job market, the stock market and tax reform have done great things so far for the country, but could todays selloff inspire him or force him to make any last minute edits . Plus can he deliver a plea to both sides of the aisle in order to kick his 2018 economic agenda into full gear . Fair and balanced. Well hear from two Congress Members in leadership positions who will be front and center at the state of the Union Address tonight. Plus apple rocked to the core and charlie is about to break big news from washington, d. C. Less than an hour to the closing bell. Lets start the countdown. We are just getting this breaking news, democrats criticizing the Trump Administration over handling of russia. This time, Senate Democratic leader schumer saying that President Trump has failed to stand up to russian president putin, quote, time and time again, and saying that the Treasury Department is certainly not getting tough enough on one of russias top bankers. We told you this last week as we interviewed andre costin, saying he would show up on sanction list, guess what . He showed up on a list put out by treasury of big billionaires and russian oligarchs who, of course, are close to putin but no sanctions attached. Vtb Bank Chairman the man known as putins personal banker finding himself on the Government Watch list of 210 people including 96 oligarchs worth a billion dollars or more with direct ties to the kremlin as part of sanctions packages that President Trump signed into law last august but no sanctions handed down specifically on any of these 200 billionaires. Guess what . Were looking at stocks finding themselves under the gun on track for worst day since august. So the blue chip index right now is down 374. At worst point, this is why were showing you intraday. It was down more than 400 points. The s p 500 sectors tell a very clear story here, Health Care Needs serious cpr, followed by energy, were looking at every single major sector here pulling down the markets, specifically health care is the worst, down about 2. 14 , you see energy down, tech is not looking well at all. We have one piece of the jigsaw puzzle playing into the selloff, that is bond yields. The 10year yield hit as much as inching toward the 3 mark at its worst point or highest point, not necessarily bad depending what part of the market youre on, hitting 2. 74 . Those are multiyear highs, and what is in the green . Wall streets fear gauge, the volatility index, rising to highest level in more than five months right now. Just a few minutes ago, it had been at 15. Right now at 14. 85. What was it two weeks ago we were at under ten . Nine . This means the fear is swamping the markets. In the cryptocurrency world, bitcoin blues, the currency dropping to a fresh one week low, selling off more than a thousand bucks, 1066, clinging to gains just above 10,000 for bitcoin. A far cry from 18,000. Is this it . The big correction the bears have been expecting . Let me guess, the floor show traders say liz, its only 1. 5 lopped off from the Dow Jones Industrials still since the election up about 40 or 32 . Were bringing in the man, hes been warning to watch out for this very scenario we see unfolding. Globals fixed income head andy brenner. Andy, to you first, late last night, i was wont up, i saw your note and had a specific warning, it will be a very ugly open on wall street and sure enough it was, specifically because what you saw spiking rates. Is it as bad as you expected . Is it about to get worse . Liz, its about to get a lot worse. You have a lot of things going against rates right now. Youve broken the 265 level, you got up to 274. 280 is next support and the december 18 highs of 303. Were going there. The trump stimulus package. Trump tax package. The infrastructure package to be announced tonight. The fed is on a war path, janet yellen era ends tomorrow, and in power will be a lot more aggressive. Plus the other Central Banks of the world, the d. O. J. And bcb are back tracking. Liz, we have a perfect storm and looks bad if youre long interest rates. Liz thats the question, and as you look at how the market opened, down on the new york stock exchange. We saw the biggest gap down at the open, i believe it dropped 182 points, right as the opening bell hit, thats the worst i believe weve seen since may. Is it because there was such fear that the companies which basically borrowing money at such low rates, its almost free saying thats about to change . Thats certainly one of the things, you talked about the close last night. That was ominous sign as clearly we saw a close on the lows and fast and free falling. So this morning, that continued. This has been an orderly selloff. So its got to do with rates and people are a little panicked and spooked because we havent seen this broadbased selloff in quite sometime. So this is something that were up 6 , so nar 2018. Lets take this with a grain of salt. See what comes out tonight. You cant be that worried about a market move of 2 total if this continues throughout the day. Its true, larry, we still have the s p, and i was just looking before the show. Up about 31 since election day. So this is not the worst situation in the world, but could it be the start as andy mentioned of something that starts to snowball . Well, it could, andy made really good points, though i disagree, its not about the yield, treasury yields are rallying for the right reason, not the wrong reason. Lets not get excited about the u. S. Dollar dropping. Its about global balance, not about financial instability. This whole thing started last week when i was on the show talking about texas instruments, union pacific, and caterpillar, and how they had very good earnings, and yet the stocks fell out of bed. I think its a fact that theres too many weak Hands Holding stocks, were up 6 on the year, the market has gone up too far and too fast. Whats troubling yeah, go ahead. Liz i was going to say, mcdonalds came in with very good numbers and the buttermilk chicken tenders that are selling so well. It wasnt enough for wall street. So andy, weve got both traders saying lets say its broadbased, calm, orderly. Is it about to get worse, and if you say yes, why . If this is to be, liz, i think the equity markets i dont think this is the beginning of the correction, i expect a correction this year, i expect it in the range of 10 , but i think it starts more towards in the summer than it does right now, but as far as the bond bear market, its there. Have you new record highs in five years, you havent been this high in five years for eight years, seven years, you havent been this high in seven years for seven years. Once you see the 3 handle sustained, i think its going to be a problem for stocks, but not a problem today. Liz all right, well, who knows . The pullback is stoking fears of volatility, but some people like volatility. Matt, larry, andy, great to have you and that perspective when. Andys note came out last night, better get up early and see whats happening. Wall street is coping with this hours major selloff decently but starting to head further to the lows of the session, not quite there yet. Folk, that would be down 411. We are down 375. But the nasdaq down 67 is lower by nearly one full percentage point that the moment. Washington preparing, bracing, whatever you want to call it for President Trumps first state of the Union Address. Will he ease investors fears as he puts 2018 economic agenda in focus just less than six hours from now. We have blake burman live at the white house. Blake, whats the atmosphere been like at the white house, and what are you hearing about how President Trump, if at all, will address todays drop in the stock market . Reporter theyre gearing up for the speech, obviously, its the lastminute preparations, the president hosting people inside the oval office as well. When he was asked about the state of the union speech yesterday, the very first thing he talked about, liz, was the runup in the stock market and the tax cut bill as well. You can expect that to be a sizable portion of the president s speech tonight. It is a bit of unfortunate coincidence that asked to give the speech in the midst of a 300 to 400point drop on the corner of ball and broad. The white house spokesman hogan gidley suggested at least that the president will not address this one blip later this evening. Asked if the president will address that tonight, but overall, no one can deny the successes that have occurred under this president s watch. Reporter theres going to be a handful of democratic rebuttals tonight after the president speaks. The top democrat in the Senate Chuck Schumer gave a little preview as to what we might here as he downplayed President Trumps economic successes. Here was schumer today on the senate floor. President trump was handed an already healthy economy by his predecessor, like many things in his life, he inherited the healthy economy. Here are two words, we wont hear President Trump say tonight about the economy. Thanks, obama. Reporter a bit of a preview from chuck schumer. As for President Trump, hes here at the white house, he had lunch with network and Cable Television anchors and heres what he told them, normally president s try to strike a bipartisan tone and that is no different for this president. He said, quote, i want to see our country united, it was divided not just under president obama or president bush, remember the impeachment of bill clinton. Tremendous divisiveness not just over the past year, if i could unite this country, i would consider it a tremendous success. Liz . Liz wow, okay, he invokes the impeachment of bill clinton. So much for building bridges here. Reporter for unity. Liz exactly. Well be watching, blake, thank you. Walltowall coverage of the state of the union speech starting with lou dobbs, 7 00 p. M. Eastern, followed by special editions of cavuto coasttocoast, and the Intelligence Report all right here tonight on the fox business network. Blame bonds . How about blame the billionaires. With the closing bell 47 minutes away and the dow down 357 points, billionaires Warren Buffett and jeff bezos say lets make a deal, and the potential Game Changing hookup to tackle one specific sector is swamping fearful competitors. Up next, the man who says this Partnership Makes amazon like like a too big to fail bank and why he says the tech titan may not survive it . Plus, will he stick to the script and what will the script say of the most anticipated speech of the year . One of the darkest clouds hanging over opportunitys state of the Union Address has got to be the budget battle. Shes been one of the president s top guns in the tax push, diane blackheading to cameras on capitol hill how the market tumble might impact what we all hear tonight. Countdown coming right back. The things we do rising before dawn. Sweating it out. Tough to do it all. But we can always find time to listen to great thinkers and explorers whose stories take us places our hamstrings cant. All we have to do is listen. Download audible to start listening. When it comes to travel, i sweat the details. Late checkout. Downalternative pillows. And of course, price. Tripadvisor helps you book a. Hotel without breaking a sweat. Because we now instantly. Search over 200 booking sites. To find you the lowest price. On the hotel you want. Dont sweat your booking. Tripadvisor. The latest reviews. The lowest prices. Liz weve got this breaking news, investors are calling a code red on the Health Care Sector. First look at the insurer, United Health, anthem, cigna. Flip it over to the pharma names, allergan, pfizer, eli lilly, a different display of names and you can see pfizer, the big American Company down 3 , allergan down, finally device makers, look at this. A route for device makers following that news, theyve come up off lows, maybe i should restate that and say not necessarily a route, avarian, intuit, getting hurt. And the aggregate getting crushed because amazon, Berkshire Hathaway and jpmorgan decided were not waiting around for the government. Were not waiting around for insureers to figure it out. Were going to build a company that aims to improve outcomes for all employees with the goal of curbing rising costs. Amazon hit a lifetime high today, right now still up fractionally. Berkshire marginally down, look at amazon over the past ten years, whenever you pair amazon with a sector theyre not in yet, it has quite the effect. The man who knows the Amazon Effect inside and out, Scott Galloway, author of the four, the hidden dna of apple, amazon, facebook and google. You are arguing the dominance of the four companies, today amazon, needs to be curbed because this specific type of, let me get in this market, let me get in that makes them too big to fail eventually . If they went out of business, i dont think it would tank the economy the same way the bigger banks could tank the economy. The reason they need to be broken up, as evidenced today, we dont have fair competition, when one company can perform a Jedi Mind Trick and go into a sector. You see tens of billions of dollars shed from the industry, it means effectively the markets are failing. Key to competitive markets is no one player or company has too much power and amazons that proven it has too much power. Can choke the mothers milk of business off that has access to capital. Liz that is exactly whats in play right now in the final hour of played. If we get rid of the four and cycle through the subsectors of health care, everybody in the audience can see how dramatically hit this entire sector is getting simply because but berkshire should not be discounted either, theyre saying Warren Buffett, who knows how to reinsure and knows insurance definitely, paired with amazon, knows how to deliver and, of course, jpmorgan who knows how to get payments. These three together with this number of employees under their umbrella can really make a Game Changing event, but certainly the Health Care Market is terrified. I think youre being generous to jpmorgan and Berkshire Hathaway. I dont think anyone cares. If they had announced they were doing this without amazon, this would be a giant yawn. When amazon buys whole foods, the value of kroger declines a third between the time they announced the acquisition and when they closed it. Amazon is the only darth vader that can kill a competitor just by wishing ill on it. Liz well, it sure tells me that amazon may garner the attention of capitol hill and politicians trying to make a name for themselves. Not to mention, who knows, d. O. J. , securities and exchange commission. Will there do you anticipate or foresee an attempt to break up amazon or curb its tentacles . Yeah, i do. I dont think its going to come out of washington, i think its going to come from one of two places, either a red state where attorney general sees the fastest blue line path to the Governors Mansion as a populist against the fore, where its going to come from, probably out of brussels. Europe registers all the downside of tech, the tax avoidance, job destruction, weaponization of elections but garner a fraction of the upside. There are very few hospitals or University Buildings named after facebook or google buildings in europe. All of the downside stiffens the back bone of regulators, margaret is the Worst Nightmare for amazon. Liz she is the top european regulator. Commission or competitive for eu and not afraid of big tech. Liz Scott Galloway is a berkeley graduate, go bears. Go bears. Liz thank you very much. You probably got the attention of certainly some amazon people watching now. Bad enough that senators are calling for apple. One of the four to come to capitol hill with the closing bell ringing in 38 minutes. We were talking about that kind of regulation and that kind of heat. Dow 30 heat map, we dont have many names tasting green. Chipotles investors getting another bad taste in their mouth as new rumors over Food Poisoning hit the shares. Chipotle down 3 , a twitter message says 79 cases have popped up nationwide. Coming up, were going to go back to capitol hill. President trumps state of the union in focus. Weve got a bipartisan look ahead with a speech coming up. Countdown coming right back. Dont go away. D your car for four years. You named it brad. You loved brad. And then you totaled him. You two had been through everything togethe