things have changed in the last couple of seconds here. meanwhile at the white house, president trump meeting with some of the biggest labor leaders in the nation. president trump talking trade, jobs and the economy with the leaders of the teamsters, the steelworkers, the auto workers and other trade groups. this after team trump released economic outlook earlier this afternoon. the president's council of economic advisers came out with numbers and the numbers disappoint, if you had been hoping that what the president said on the campaign trail would come true. we'll get those be ins to you in just a moment. bob nardelli, grandson of the biggest companies in the nation, he'll tell us whether this economic team of the president's should have come up with a more solid number in this very wide ranging forecast. and we will introduce you to the ceo of a company that is planning to take on the likes of apple, fitbit, garmin, polar, all of the wearable companies with his own wearable. what makes it so different? he says it will change and save your life. this is a fox business exclusive, you need to see this product. less than an hour to the closing bell. let's start the "countdown." . >> so breaking news, and again, this should underscore how quickly things turn. when i just started talking to you about a minute and 30 seconds ago, we had the dow up 150. now up 95. we had spiked on janet yellen's so-called parting gift to the markets and was the fed minutes reports which give us a sense of exactly what was said at the most recent fed meeting and kind of not too hot, not too cold, things look good, stronger, still look at three rate hikes, not more, not fewer but not as aggressive as the markets previously thought. we are well off session highs which were struck right at 2:00 p.m. eastern when the fed minutes came on. could you call this a strong close? we have 58 more minutes to go and now up 88 points. folks we are on a trajectory going lower. 10-year treasury yields, changing moment by moment. when the numbers hit the tape, we were at 2.9, now 2.93. interest rates move higher and stronger. that means less fear in the markets and let's see if that's true. the vix volatility index slipping to lowest level since february 5. and climbing, sort of the opposite what stocks are doing. right now down 2 points or 10 percentage points but had been much lower. we're standing at 18.47 for the volatility index. can we look at the tech sector? shining brightly. the nasdaq is on pace for highest close since february 2. we are up 50 points but high of the session for the nasdaq, we did see a gain of 104. i don't know if that still stands. we are writing the scripts and changing them as quick as the actual picture at the moment. the intra-day, we're heading back down. big cap tech titans, keep a close eye on amazon, it could make history today, if it closes above $1500. that would be the first time ever. right now, we're looking at amazon at $1496.51, we're less than 4 bucks out of there. amazon could be partly responsible for walmart, having worst day on wall street in more than three decades. that, of course was yesterday. today, we're only adding to the misery. walmart is down another 2.5% after getting smacked by a 10% loss yesterday. biggest retailer falling for the second day in a row on track to shave off nearly 90 points from the dow after a barrage of analysts cut price targets on the stock today in the wake, not only of walmart's disappointing earnings report for the crucial holiday quarter that showed a slowing of online sales growth but almost a concession amazon is a jugger sdmaut beating walmart. could this be a buying opportunity? always got to ask that question. we need to get to the white house because the president is now listening to the unions. he's meeting with trade union leaders as he vows to get tough on trade deals that, quote, hurt american workers. again, this is interesting, the president turning the traditional view of republican leaders on its head by welcoming instead of freezing out union workers which is what many republicans well in the past used to do. this comes just as the white house releases its assessment of the economy. a lot going on, blake. we have the fed minutes, the markets -- i want to say reversing now, now we're up 65 points when we had been up 250 for the dow and the meeting where the president is really linking hands with union members which stands similar to what he said from the very start when he invited coal union workers right into the oval office. reporter: you got it exactly right. i was speaking a little while ago and this person said, look, while president trump, this is a group that may not necessarily see eye-to-eye with him, he invited last year. this is described as a natural progression of the conversation, that the president had with these heads of the biggest unions, just last year. let me show you who is exactly at white house now, the head of the afl-cio, teamsters, steelworkers, the uaw, to give you four of the six there. i'm told nafta is a good portion of the conversation, as you always know the president has a decision to make whether or not to levy tariffs against steel, and that could potentially come up as part of the conversation as well. this comes as the economic report of the president was delivered today by the president's top economic advisers and they had this message, i guess you could almost say this warning on trade, at least as the administration sees it. according to the 500 or so-page report, they wrote on trade even if fair and reciprocal international trade as a whole leaves the u.s. better off in the aggregate, this does not necessarily mean that the benefits of expanding trade flows leave all americans better off. you've got this administration saying america first is the priority, but critics both inside and outside of this country say this is an administration that is too protectionist on trade. as for that cea report, it paints a rosy outlook of the economy, and when you look going forward as to where they see things headed, it's pretty much at a rate of 3% gdp growth. a 10-year time line they outlined had just about 3% in the near-term and the outcoming years other in middle portion of the 10-year window at 3% and the back end of the window just below 3%, but then there's also this warning as it relates to the headwinds. here's what they caution liz, challenges remain for 2018 and the longer term, including increased opioid dependence, the recent low rate of labor productivity and real wage growth and downward pressure on the labor force participation rate from demographics. bottom line from this report, liz, 3% gdp growth, they feel will be the new norm coming here for the next ten years or so. >> interesting though, they compared president trump to president reagan and some ways president kennedy, president reagan one year after the recession had gdp of 4.6%, and then i believe it went to 7.8% that following year, so, you know, we're not there yet. reporter: and one person they did not compare him to was president obama. it was very clear when we were on a call right before this report was released, they are saying, look, this is a clear departure from the obama administration, and they think, especially with the new tax code going into law that that is going to lead to the 3% growth. >> the fed's not far behind. they said the same thing in the minutes a few minutes ago but said they haven't seen it yet. we can only hope it's coming. blake, i don't know if you can see this. the dow has fumbled more than 240 points of its lead. we are now up 17 points for the dow at 3:00 p.m., 9 minutes ago, we were up, what, 200 -- what were we, right? more than 200 points? it's unbelievable. the high of the session was 303 points to the upside. what is happening here? well, could it be a move higher in bond yields or something else? i need to get to traders right now. and we should mention too, jpmorgan had this to say while rising long-term rates will ultimately become a negative, we do not see current levels as a reason to derisk and sell equities. oh, really? said the guy at jpmorgan. what's going on here? i'll start with ted weisberg, and chris is listening to. this is a significant reverse, maybe we can show intra-days, the really big drop here. what's going on? >> well, it is as we speak a big reversal. the stay not over, and as fast as they came down, they can reverse it and move higher. no question after the fed minutes are released that what they heard, the comments that the fed can afford to be patient with interest rates. clearly this is of a peace of fed chairman, not from the current fed chairman, and influence on the federal reserve, but i think the issue of interest rates is clearly a headwind for the market, but unfortunately, we don't know where the tipping point is, and i don't think we're close to it. but at the end of the day, liz, the fed, the 800-pound gorilla in the room. will corporate earnings trump what the fed does down the road? that remains to be seen. >> it's the fed, we just turned negative. ira. the dow is down 14 points, the low of the session here. i'll say what the fed said in case people missed it at 2:00 p.m. eastern. stronger growth than previously forecast. further gradual rate hike. inflation will hit 2% in the intermediate term. tax cuts near-term are positives. haven't seen the effect just yet. upside risk, things are stronger. ira, why suddenly an hour after those minutes came out did we go from up 303 points to now down 23? >> high-frequency trading. hft, that is the name of it, and playing on each word that comes out, as it comes out, you stand in front of a train, that's what happens, that kind of money comes into the market. the fed said nothing, it's a three-week-old statement we're listening to. 10% plus break after the statement. we've added 300 billion in spending to the market and the fed said one thing, one big word, gradual. they're going to look at each three-month period and tell you where they're going. trying to read what jpmorgan is saying of four rate cuts, i'm not buying into it. 2 1/2 is built into the market, see how the market does from there, and trading affair, no longer just a straight up affair in stock. said that last time i was here. >> i'm telling you this is really strange. you're saying it's the algoes. we talked a lot about this two weeks ago. and you know, obviously, we had one of the guys who runs one of the biggest high-frequency outfits, vinny viola. to be fair, humans input the buy and sell orders into the high-frequency trades but the computers move it so quickly that this is extremely unusual. we're now up 10 points. who knows how it will end. andy brenner sent out a note one of the smart guys we listen to and he said even though we're up 303 points, i don't know where equities will go. chris lowe, does the economy or outlook from the fed or president trump's economic team play into what we're seeing right now? >> i don't think so. you know, i think what the guy said about the minutes is spot-on. they're talking about continued gradual growth, as you mentioned, they're expect a little more oomph in the economy from the tax cuts, but they are confident inflation is moving towards 2% and a gradual pace, and that that's consistent with further gradual rate increases. so i don't see anything in the minutes suggesting a faster rate of tightening or even a slower rate of tightening. if i had to pick on one thing that might be driving 10-year note yields higher, it's the fact that maybe some traders think the fed is being too complacent, that maybe they ought to be a little more nervous about the economy heating up in the wake of the tax cut. >> well, sure, if that happens, you start to see that inflation can come in as i said before with the rapidity of a horse at full gallop. look at the yields now, 13.57 at 2:00 p.m. eastern. >> and a rising 10-year yield is nervous that the fed is not tightening fast enough. >> i see, i see. >> remember what happened when the fed was going and the economy was dying in 2016. those long yields fell because they felt we were doing too much. by the way, there was a mckenzie report that got a lot of attention about stronger productivity. that is the white house answer to all this and we'll get productivity growth. >> we should say too, the dollar has weakened going into the fed minutes at a buck 23 for a you'ro and now at a buck 22. we're watching this. guys, thank you. we may have to come back to you to see what's going on here. with the closing bell ringing in about 45 minutes, this market is very tentative at the moment. the dow is up 17, but i remind you it had been up 303 within the last hour. nasdaq is up 33. had been up 104 if that tells you anything. he was known as the godfather of the american running movement, but jim fix dropped dead of a heart attack on a routine run, this was a marathoner extraordinaire. would he still be alive today if he had a wearable that has the technology from a company we're about to show you now. the ceo of onrun health care is ready to take on the fitbits and the apple watchers of the world. congressman nancy pelosi attacking the tax reform plan as, quote, a scam and unpatriotic. but now even democrats think that is far from a winning strategy for 2018. hillary vaughn watching this speech. this is a live picture what's going on and what house minority leader pelosi is saying right now in a news conference. she'll tell us and she'll give us the fallout, next. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ ♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪ retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. . liz: i need to take us back to these markets. now we have everything back in the green, but nowhere near where we had been. just 20 minutes ago at the start of the show. the dow up about 16 points but when you had been up 303, within the last hour, this is kind of strange. the s&p up 4. high of the session for the s&p was a gain of 31 points. i told you the nasdaq up 32. looks good on the face of it. had been up more than 100 points. what happened? hard to say, but if you look at 10-year yield right now, it just hit a fresh four-year high of 2.94%, why? well, we can only figure we got the federal reserve minutes, the market initially absolutely loved it. all of the gains, the highs of the session came as soon as that came out -- okay. we're watching it! could be the algoes as they said. to san francisco, this is nancy pelosi, the house minority leader holding a news conference. she's on a plan to go through many different states. she was in arizona yesterday, and she's calling the gop tax plan a tax scam. now you know earlier several weeks ago, she called any kind of checks that people were getting from employers in the wake of the corporate tax cut as just crumbs, she is now doubling down going so far as to call the tax plan a scam. hillary vaughn is listening to the speech. how did she begin this speech, i'm interested to know? . reporter: liz, her whole argument is this tax scam is a gop scheme to convince american taxpayers that the reforms are good for them. she admitted earlier today that americans are getting more in their paychecks saying that republicans put a goody in there for some taxpayers to distract from the fact that these corporations are getting these massive cuts. here's why she says that's a ripoff because she says that republicans, by issuing these massive corporate tax cuts are adding to the debt, claiming if you factor in the interests from these cuts, it will add about $2 trillion to the debt. that's what she's saying. republicans will tell you that all this growth that we expect to get from the cuts will end up paying for itself, but she says don't listen to that, that's not true. she also says that republicans are purposely creating this to their advantage, using a growing deficit as excuse to cut critical programs. >> but what's worse about it is that it's a black cloud that hangs over the budget and says now we've given -- robbed from the future and now we have to take from medicare, medicaid, food stamps, social security disability. reporter: the california lawmaker saying that some of these cuts are hitting seniors the hardest, arguing the cut to food stamps hit a food delivery service for seniors meals on wheels and hurt the neediest. this is a part of her 100-city campaign across the country to convince americans that these reforms are bad for the country. liz? liz: it does seem that it's not just gop who are sort of raising their eyebrow on this one. you now have fellow democrats in the house, everybody from john yarmouth of kentucky to go crowley of new york, whole burch of people, ken ellison of minnesota, ben ray lugeon of new mexico. scam and crumbs are not right. some democrats are distancing themselves from nancy pelosi. thank you very much, we appreciate it. hillary is going to monitor the speech and tell us anything we need to know. united technologies going airborne, with the closing bell ringing in 37 minutes, utx announcing a $23 million deal with the air force for new air force reconnaissance system, and the gap flying high after announcing a new colab of kids clothing in collab with actress sarah jessica parker, inspired from heirlooms from her childhood celebrating luck and logic. nice to see from a company struggling in the past saying their clothes weren't cool enough. who would be quick to jump into the crowd of fitbit and garmin? diving in with wearable devices that aren't just cool, he says they can save your life. a fox business exclusive straight ahead on "countdown." you need to see this thing. you . i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade about type 2 diabetes.with some surprising facts so you have type 2 diabetes, right? yeah. yes i do. okay so you diet, you exercise, you manage your a1c? that's the plan. what about your heart? what do you mean my heart? the truth is, type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. but wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease alower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so-you still just thinking about your a1c? well no, i'm also thinking about my heart. now it's your turn to ask the serious questions. ask your doctor about jardiance. and get to the heart of what matters. . liz: i have a question for you, can your apple watch or fitbit or polar can, it warn you that you're about to have a heart attack? probably not yet. well there's a new disrupter in town taking wearable, preventive health care to a stunning new level. in pursuit of mission to completely eliminate heart attacks and strokes, omron is the company that is a global market leader in at-home blood pressure monitors but ceo says we're going to get to you throw the fitbit in a drawer and swap it out for upcoming wearable. no fear of entering the overstat rated market. really? >> no fear. liz: no fear at all. and you've got it right here. show it to me. >> this is a blood pressure monitor, not just a wrist watch, not just activity monitor, it's a blood pressure monitor. you have to hold it at heart level to get your blood pressure taken correctly. liz: and it can tell. >> if i went below, it would tell me i'm wrong. in about a minute, i get a blood pressure reading. if i stop it, if i hold it up here, there is my last blood pressure reading. >> can you see this, marco? wait, keep it there, keep it there. tell us what it says. >> last reading was 126 over 92 which means i'm hypertensive. the new aha guidelines say 120 over 90. i'm slightly hypertensive. you slightly made me nervous. liz: it's not that you're nervous being around me that your blood pressure is spiking. >> certainly. liz: he's overwhelmed by my abilities and my talent. not! here's a video of it working. so it seems bulkier than the apple watch and doesn't do all the things that the apple watch does. who is this for and how do you get people to wrip that apple watch off their wrist even a sticky business model that has the ecosystem that says i'm wearing this instead. >> 103 million people in the united states are hypertensive. one out of every two adults. they need to know what their blood pressure is to take care of their heart. you can't do that just with apple watch or fitbit. you need another product do that, and we think they want to be taking their blood pressure any time, anywhere. not just at home, in their desk, pull out the monitor, put it on, i can take my blood pressure now, when i leave the studio, i can take it tonight, i can take it when i'm sleeping. liz: when is this on the shelves? . >> later this year after we get final fda clearance. liz: how much? >> less than an apple watch but we have blood pressure monitors that range from 50 to $100 materials, be a little higher because of the technology but very affordable to everybody. liz: what else does it do? tells the time. >> track your steps, distance walked, calories burned, it will monitor sleep and tell you sleep efficiency. liz: fat? >> won't do body fat, but it will also do alerts, notifications, if you get a phone call, it will tell you, you have a phone is call just like any of the smart watches today. liz: it could save your life. >> it could save your life, if you are hypertensive, that is the first signal there is something wrong with your heart. take care of it, the sooner you take care of it, the sooner you get healthy. liz: on the shelves soon, this year, we hope. >> absolutely. liz: randy kellogg, omron and the technology is? >> heart guide. liz: a home ecg, right? home electrocardiogram thing? >> yes. liz: thank you, one out of six people will suffer a stroke globally. got to be careful with your heart. eyeing team trump's wide range, and when we say wide range, pretty wide. with the closing bell ringing in 28 minutes and the dow now up 46, but that's not 303 where it has been higher. the president's economic advisers reveal growth estimates for the american economy and not exactly where the president's growth promises were during the election campaign. they say it will be anywhere from 2-4%. so which is it? 2% gdp or 4%? bob nardelli ran some of the biggest companies in the world, chrysler, home depot, major division of general electric, could he have gotten away with such a wide range of estimates? we'll ask him to hold accountable the numbers. "countdown" will be 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 can't. all we have to do is listen. download audible to start listening. was a success for lastchoicehotels.comign badda book. badda boom. this year, we're taking it up a notch. so in this commercial we see two travelers at a comfort inn with a glow around them, so people watching will be like, "wow, maybe i'll glow too if i book direct at choicehotels.com". who glows? just say, badda book. badda boom. nobody glows. he gets it. always the lowest price, guaranteed. book now at choicehotels.com for mom, the nation's largest senior living referral service. for the past five years, i've spoken with hundreds of families and visited senior care communities around the country and i've got to tell you, today's senior livingnd communities are better than tever.ou, today's senior living communities are better than ever. these days, there are amazing amenities like movie theaters, texercise rooms and swimmingg pools, public cafes, bars and, bistros. exercise rooms and swimming pools, public cafes, bars and bistros. even pet care services. and nobody understands your options like the advisors at a place for mom. these are local, expert advisors that will partner with you to find the perfect place and determine the right level of care. whether that's just a helping hand or fulltime memory care. best of all it's a free service. there's never any cost to you. senior living has never been better. and there's never been an easier way to get great advice. call today. a place for mom. you know your family. we know senior living. a place for mom. you know your family. we know senior living. together we'll make the right choice. . liz: breaking news, president trump has just finished meeting with the trade union leaders, and according to the white house, because we didn't get cameras inside beyond just getting a shot. leaders of millions of american trade union workers were in attendance and that the president asked them to call on congress to build upon the momentum of the tax cuts by fixing what he called the bad trade deals that shipped american jobs overseas and the president reiterated his promise to continue fighting for america's workers. let's bring in a man who ran three massive companies -- running one massive company is enough! but bob nardelli ran home depot, chrysler and a huge division of general electric. >> yes. liz: and private equity galore, you are unbelievable. bob, he's meeting with union members and union leaders and that's certainly important. he's talking about trade deals, but earlier his economic team came out and said here's our growth outlook from now until 2020, and then, beyond if the tax cuts remain in place. >> yes. liz: and he said anywhere from 2-4%. >> yep. liz: does that square with you? >> you know, talking to some of my recent colleagues, we're confident it's 2.7 to 3% this year, liz. i think what you just talked about is proof positive that we have a much more business friendly administration. liz: yes. >> you got rollback in policy and regulations, the repatriation which is contributing significantly the tax collected off the repatriation. a big portion of the interest on this year's national debt. you've got reinvestment back in your company. the overall corporate tax rate is going to allow a lot of jobs to come back, in his meeting with the union leadership is proof positive that he is really working to repatriate not only money but jobs. liz: why not come out and say 3-4%. where is the 4%? and i'm just repeating what he promised on the campaign trail and at certain points, there are sound bites saying maybe higher than 4%. >> for sure we have to get 3% to continue to get the unemployment level and the unrecorded unemployment level back to where it needs to be, liz. you got to have 3%, you got to have that gdp. liz: why not? is why i'm asking. you run the companies and you say to analysts, internal numbers, as we look at the dow turning negative, i want to let viewers know. that as you covered the company, anywhere from 2-4%, would that work? that's a widespread, isn't it? >> that's a big range. when you're talking about 2020, god knows what could happen, right? i think in my upbringing at general electric with jack welch, one year would be solid, two years pretty solid, and three years is as far out as you go with all the extraneous things that could happen, global issues, political unrest, i think he's given himself some wiggle room. i think what's important is what's in front of us. what is going to happen in 2019 and so forth to. go out five, six, seven years is a bit of a stretch. liz: especially when you factor in -- you gave a litany of positives, less regulation, the tax cuts. >> yes. liz: higher interest rates coming, you could see it in the ten year right now. that is in part what spooked the markets that we have a 10-year yield at 2.94%. >> haven't seen that for years. liz: 4 1/2 years, now 2.95. in one hour, we jumped and it may not look like a big jump but for people following the bond market, it is enough. inflation possibility, the u.s. dollar weakened. >> yes. liz: slightly stronger today. couple of other things, so you've got him restricting immigration, which is also something he promised. just as more baby boomers leave the workforce. >> yes. liz: that's a headwind if i have seen one. >> yes, there are issues. geopolitical issues we have to deal with. it's the black swan thing, what could go wrong and what are corporations doing to protect themselves against that to the degree that they can. and what we see is a lot of capital reinvestment. commitment back to our employees and associates in the companies, in addition to a tax release, thousand dollar bonus checks go out which is going to stimulate. housing, housing year-over-year is down it is strong, but it's down for the market. liz: and it's down -- we have existing home sales for january fell 3.2%. year-over-year -- what happened? it's inventory there. isn't enough inventory. this is a good reason for a bad number. >> let's looked at major home builders, pulte, et cetera. liz: home depot came out with great numbers. this number, u.s. existing home sales would not spook you? >> it would not. you have two major modes within home depot. the maintenance mode during a recession. unless it's broken, don't fix it and the investment mode where people are investing and starting to get back to flipping their homes. spending money on kitchens, spending money in bathrooms. those are high-ticket dollar kinds of sales to enrich the home so they can flip and get the curb appeal and people moving in, they're going to do the carpeting and all the other things. home depot is solid, they had a fantastic quarter and a very strong year. liz: you air chameleon, it's amazing how you are able to morph into different jobs and different companies, as we look at markets, bob, i don't know if you saw this. session lows of down 43 points, that is a swing of 346 points within the last hour. when we come back, much more, we're watching this market for you, it's on the move. >> volatility. liz: volatility. >> volatility. woo! but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ going somewhere? whoooo. here's some advice. tripadvisor now searches more... ...than 200 booking sites - to find the hotel you want and save you up to 30%. trust this bird's words. tripadvisor. so i got an offer and now i'm thinking... i'd like to retire early. oh, that's great sarah. let's talk about this when we meet next week. how did edward jones come to manage a trillion dollars in assets under care? jay. sarah. so i have a few thoughts on that early retirement... by focusing our mind on whatever's on yours. . liz: gang, the breaking news that we have for you is we wanted to put this chart together for you, so you could see why at the top of the hour, we were up 300 points and then suddenly we're not anymore for the dow, we're down 15. how do you fumble that much? the yellow line is the dow industrials tanking just around 3:00 p.m. eastern. i swear it wasn't me. the blue line is the spike in the ten-year treasury yield. after the federal reserve minutes but a good hour, that's what's weird, a good hour after we got the minutes. 2:00 p.m. eastern from the latest fed meeting that didn't have anything that was so dramatic. >> it was actually good. liz: ira epstein said or christopher lowe our economist said this is basically what we saw three weeks ago, it was a good deal. we have the ten year hitting a fresh four-year high, hitting four-year highs of 2.901, 2.2. now at 2.95 for the 10-year yield? that's something else. we're watching it closely. the dow is heading back down, the low of the session is a loss of 43 points. remember it's been a 347-point swing because we had been up 303 points. okay special counsel bob mueller indicted 13 russian officials last week, you know that. now it appears he's widening the scope of his investigation to more former members of president donald trump's campaign, specifically the campaign. charlie gasparino has some news on this and the latest mueller target. >> we were the first to report and everybody is catching up. fox business first reported this that his former campaign aide. liz: i know him. >> scheduled to meet with mueller's office tomorrow, going to d.c. with his attorney, and it's an early-morning meeting, and, what's interesting about this, i think, listen, we have a full write-up on foxbusiness.com what this means, who sam nunnberg is, a long campaign aide, left in 2015 when it was disclosed he had incendiary racial facebook posts but still remained in the genre of trump. he's given plenty of interviews, he's in all these books. liz: he's in the -- michael wolff book, and then, he just says stuff, meaning he kind of is one of these people, ask you him a question and he says what he says. >> i've known sam for a long time. his attorney patrick did not return calls for comment. he's a guy that will speak his mind, and if he knows something, he's not going to hold back. liz: he's not holding back. >> one of the things --. liz: does he know anything, charlie? >> i don't know. he might know stuff that doesn't seem like much to us, but maybe something to put a little thing into mueller's probe. one thing he can tell mueller is when exactly trump decided to run for office. they preceded when he wanted to run in 2015. sam could tell him he was working with them in 2011 where he was seriously thinking of -- and grew increasingly serious over the years, so that could basically contradict trump on that. so who the hell knows what he could say? i will tell you, is loose cannon a right word? liz: he's not a loose cannon, he's loose lipped, maybe? >> if he knows something, he's an honest guy, and if he knows something, he's going to like -- he's going to blab it to these guys. >> can you blab what the sources are saying on the market. we're now down 50. these are session lows. >> the market shot up on the fed stuff because basically the fed was indicating it's not going to unwind the balance sheet that fast. and you get mildly higher interest rates causing this incredible puke that occurred. we erased over 300 points why. is that? i believe the tax cuts are going to work, there are plenty of traders -- liz: ira epstein says it's the algos, the high-frequency traders. >> they push it, the etfs, that xas baits the movement. what you have is markets worried about deficits and higher -- not like a spike, an incredible spike in intrashths that will basically hurt the economy. take money out of stocks into bonds and that's what you have right now. that's really what's going on in the market. it's a debate about deficits and interest rates now. i just talked to bob nardelli who is pretty smart, he thinks it's going to pay for itself. he thinks apple repatriation is a -- will help pay down the deficit. the markets aren't convinced. liz: this is now a worse session low. >> this is bad. look at that. liz: you guys see this? down 50 and down 72 in two seconds. we're going to take a quick break. come right back, a pretty wild final couple of minutes. don't go away. we've got to see how this ends. ... >> in this commercial break we are now down 121 points for the dow, i need to go right to the new york stock exchange, gerri'm willis what's going on? gerri: wait a couple of minutes it's all going to look different the dow down 117 points s&p 500 down a third of a percentage here, we're seeing a lot of trouble in the markets here let me tell you the dow losers wal-mart down 2.5%, home depot down 1.7, verizon down 1.6, chevron, energy a big loser here 1.6%. ge struggling all week down 1.4% , you'll see consumer companies doing super bad right here and when you look at the s&p 500 the companies down the most they're energy companies, d evon energy, newfield energy down, chesapeake down, seeing that sector getting hit really hard as you see. let me tell you this has been incredible volatility today everybody figuring out what's going on after that announcement from the fed at 2:00 p.m. >> liz: i'd have to say incredible volatility coming in the final hour and 40 minutes of trade, so we're looking right now at what's going on, etf's president is in the chair right now you look at all kinds of different baskets of stocks this is strange we're down 134 points in a very short period of time but the swing itself is now 440. >> its become the new norm the last couple of weeks i think we had an eight year period where we had very very weak monetary policy and now we have a new fiscal policy and there's this big tug of war between monetary and fiscal policy and what that's causing people to do is to readjust their portfolio a little bit. some of the earlier big swings were program trading and a lot of money tied to vix and certain strategies causing some of this acceleration but i think there's people trying to figure out which one wins out overtime so a little bit of a tug of war going on. >> liz: in fact as we look at the vix somebody can just give me a sense of what that's at right now because okay let me see. there it is, we see the cboe volatility now down four, when we started the show we were down 10, so we've come up off that fear, come up off of that complacency floor. where would you be advising your clients to put their money at the moment? >> i think stay calm for now. >> liz: buying opportunity? >> i think there's lots of buying opportunities here particular when things get cheap and wal-mart is 10 or 11 or 12% cheaper than a couple days ago certainly a good name. we think its been a long bull market run so we are big trend followers at pacer ets, so we think that it makes sense that you start building the arc before it starts to rain so positioning your portfolio for the inevitable i don't know when it's going to happen. we'll have a bear market today, it maybe today, tomorrow or a year oh, tour or three up the road but build portfolios in anticipation so you don't get overly emotional when the real carnage happens. >> liz: here is the real bell in about three seconds and i need to tell our folks that the dow is now down 170 points, remember yesterday, we saw a lot of about 250 points, so take it in the aggregate not a great two days here but the bigger story is the volatility today, now after the bell. >> well it's volatility and whiplash, with these markets today and incredible look at this chart. you've got stocks dropping in the final moments of trading, we had a huge spike in this afternoon and that's gone the dow had been up about 300 points now we're closing down as liz just said off a session liz dow down 168, more than a 440 point swing today, incredible, s&p 500 and nasdac just went negative as we got to those closing bells, hello, everybody. i'm in for melissa francis. david: but we have the answer good to see you all i'm david asman this is after the bell more on the big market movers but first her