Good wednesday morning im Caro Quintanilla with jon fortt and Julia Boorstin with us dow down 800, worst drop since about june 11th, on covid worries in the europe and United States, lockdown worries in france and germany oil is down about 6 vix getting closer to 40 were monitoring the ceos of twitter, facebook as they testify on section 230 well begin with dominic chu on more on what is driving the downswing. A lot of narrative around the rising covid cases, not just in the United States but europe as well markets may be taking their cues from whats happening in europe. Theyre talking about wider spread lockdowns in germany and france and whats if it happens here in the United States. Thats playing out in the markets right now. For the s p 500 specifically, below the 3300 mark, that is below both the 50day average price and the 100day average price for those indices, so many traders looking for technical or chart pattern levels as they look at trades today the s p 500, this little rol
We have seen some push pull here. Some of that weakness still russellg with the was 2000. 8 . 10year yields continuing to rise. Breaking out of what was earlier 82month trading range between 54 and 78 basis points. Now, incredible the break and we have seen the last two days. Further weakness in the bloomberg dollar index. We are back to weakness that we have not seen since march 11. You wonder how much of that is the feds continued stimulus into the markets. I want to talk about the data that make up this morning. U. S. Jobless data showed continuing claims failed to decline again and instead rose above the forecast of 20 million, to 21. 5 million. The market is reacting to the news as a cast doubt on the hopes of a strong economic rebound. For more, we are joined by nela richardson, edward jones senior strategist. This is one of the first times for the market that it is reacting to the poor Economic Data. Been in your opinion, has driving the weakness of today after what has been a s
Over the arrest and attainment of political opponents in venezuela. Speaking from geneva, he said one lawmaker and his assistant have been detained since the end , without the detention being known. Her office also documented recent attacks on clinical opposition, demonstrators, and journalists. The Venezuelan National security president juan guaido was backed by 60 nations who recognized him as the interim president since early last year. The Opposition Leader claimed president ial power, claiming Nicolas Maduro was elected in a fraudulent vote. The top u. S. Commander for the middle east is painting a grim picture for the Peace Process with the taliban in afghanistan. The general told the House Armed Services committee today that the current level of attacks is higher than what is allowed in the peace plan signed last month , and that he has no confidence the group will honor its commitments. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700
He is the governor of iowa. He said dont say bad about china. So i had to rip up about half of my speech, right . I said why . We do a lot of business. Etf been dealing with china for 35 years with corn and all the Different Things and he told me a story that is amazing. 35 years ago when i started, i met a man named xi. He wasnt president then. He was a young man. The governor came back and he told his wife and it is documented, i just met the future president of china and nobody thought much about it. And you know what . 28 years later, you turned out to be right, you have been an incredible ambassador and they like each other so much. When it came time to pick the important position of ambassador, i said havent you had enough of 24 years being governor of iowa . He said if you want me to do that. Thank you very much, ambassador. I appreciate it. Another great job. [applause] nobody could have done that job better. Man i could go on the opposite side of the spectrum from the governor
Were affected but no sources of drinking water. 74 people have died after a fire broke out on a moving passenger train. The blaze was caused by [indiscernible] survivors say it took the train nearly 20 minutes to come to a halt after the fire began. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im ritika gupta. This is bloomberg. Shery live from bloomberg World Headquarters in new york, im shery ahn. Amanda live in toronto, im amanda lang. We are now joined by our bloomberg and bnn bloomberg audiences. Here are the top stories we are following from around the world. China is skeptical about a longterm trade deal. Sources have told bloomberg chinese officials will not budge on the thorniest issues, even as the two sides inched toward a phase one deal. Another blow for Canadas Energy sector. Driller announced its plans to move its headquarters to the united states. Maker ultra is taking a 4. 5 billion c