working there they better be vaccinated. they re tightening things up. charlie gasparino on that. i mentioned a couple of you were asking what is going on with tech stocks today, neil. the dow didn t do much. what about to the nasdaq? showing nasdaq falling about 2.5%. that would be close to 400 points. now technology issues that dominate the nasdaq, they re very sensitive, perhaps overly sensitive to a hike in interest rates. they were disproportionately affected here. sometimes that doesn t pan out when you think of an amazon or microsoft or an intuit or some of these other big tech names. they seem to be resistant to a lot of things including the global pandemic. the fear of higher interest rates and people will seek out alternatives because of the higher rates. keep in mind, we ve had people seeking out the technology stocks. if rates are going up, there s
tariffs from turkey are regrettable and a step in the wrong direction. the tariffs the united states placed on turkey war of national security interests. there is are out of retaliation. translator: the united states presents a constructive will, then of course we will continue these discussions and negotiations. we will show the will to take steps to resolve this through diplomatic means. bret: turkey announcing more tariffs on u.s. imports into turkey, as the back and forth. the dow didn t like the whole thing. most experts think it was tied to this. this obviously centering on the release of american pastor andrew brunson which turkey has not done payback with the panel. where s it going? i think it s going to get worse before it gets better largely because of the way
and, yet, the conservatives cannot get a decent lead. and they are the party in power at the moment. so, i think the big warning here perhaps for the democrats is just because you are the incumbent party, that may not give you an advantage going into the election even if the economic numbers are getting better. people want to punish the politicians for what happened in the financial crisis. the snp, the scottish nationalist party is in the running. they will pick up votes north of the border. whether they decide who takes the crown in westminster remains to the seen. an interesting warning for the election down the road and the democrats. i want to focus on markets for a moment. tough all day in the markets yesterday. significant declines for the nasdaq. the dow didn t do so well, either. and i think there s a number of issues. we re seeing the oil price rise
i govern a state successfully for ten and a half years in a very, very blue state. 89% of hi legislature was democrat. i was republican in the bluest state in america. i thought chris christie said his was the blewest state. mo state had a more lopsided legislation, arkansas. do you think christie is finish ed? i don t. the bridge gate thing, the press has been blown up. nobody has been able to put his fingerprints on anything, and until they do he hasn t rebounded. it s too early to worry about it. he is still in the hunt. you ll announce here, i know that. when we come back, we promised a bombshell report last night on fbn. we delivered one for you, and we got reaction. find out why will ma in kentucky e-mailed me this.
fed pulling stimulus money, really a support system, out of the economy and out from under the market. yeah. exactly. richard, let s bring you in, mr. quest. the dow didn t just have a lousy monday. 7% down this year. but i suppose last year was a good year. let s keep it in perspective. what how do you see it all? i think you have to put it into the perspective of last year being a very strong one, 25, 26% up. and what we would traditionally expect to see is the so-called correction. and the correction is a fall of, say, up to 10%. 10% tends to be the barometer. above 10%, and you move into different areas. now what perhaps might be a little heart-stopping and giving of indigestion is the way in which it s been done. we haven t just seen 50 points off there, over a short period of time, you re seeing triple digit losses. and that in itself, michael, is a reflection of the new volatility that s come into the market as a result of high