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The New York Stock Exchange and as i said, countdown to the closing bell is not going to take any breaks and that decision is made because we are watching a mighty tumble and struggle here. Folks, its a very fastmoving one. Dow and s p 500 are on track for their worst week since january of 2016. Tech and financials are pretty much the hardest hit fears of inflation and of course higher Interest Rates rearing their heads once again. Let me start with Interest Rates the rising 10 year treasury yield started the whole thing last friday when we lost 666 points on the dow and by the way were down 600 right now. Intraday, today, the 10 year treasury yield briefly revisited the four year high of 2. 88 that it had hit remember this early monday sort of overnight before many of you were awake. That sparked an 1100 point ....
Dow jones industrials down 26 points, s p down 11, the nasdaq by 29. Some of the big gains yesterday, russell 2,000 lower by 12, but it is oil that is really holding this market hostage. Its underpinning stocks. And House Speaker paul ryan says the nation needs to change the antiquated tax system that hasnt been updated since he got his drivers license. May salvage tax reform, its 70,000 pages, and he held up what he says will simplify the 70,000 page outdated tax reform code and socalled tax return postcard will be at least one of the saviors here. And while ryan focused on one of the trump administrations main domestic agenda items, the president was talking russia with the ukrainian president as relations between the u. S. And Vladimir Putins military become more hostile and outright dangerous. Weve got the fox business all stars ready to go on all of these major developin ....
As well. We have base metal seeing some strength today. Easternt 9 00 p. M. Time, President Trump addresses the nation laying out plans for afghanistan and he will hold a rally in arizona tomorrow, the first visit to the state since he was elected. Whole foods will hold a meeting takeovere the acquisition by amazon and thursday, the Kansas City Fed hosts the annual jackson hole economic symposium. Janet yellen and mario draghi are on the schedule for friday. The big event. Lateran the big event this week as the president heads back to washington, d. C. , investors are left guessing what the latest shakeup in the white house means for policy. After the news van and was out, the markets bannon was out, markets initially were up, but then they closed down. Is jan us now for more lloyd, jpmorgans head of global Asset Acquis ....
King of debt, but will his policies make paupers out of all of you . Gop president ial candidate Donald Trumps economic plan and whether it really can make America Great again or punish savers. And by the way, where are the better plans from the remaining candidates or their party . [laughter] plus, im heading to vegas with these guys and 8 billion of capital descending on las vegas for the super bowl of the hedge fund world, the salt conference, where ill give you access to the winklevoss brothers and some of the greatest minds of the financial world. Twins will be there including guru of the emerging market, mark mobius. Were less than an hour to the closing bell. Anything can happen in this last hour of trade, so lets start the countdown. Liz and by the way, we should tell you that disney earnings are coming up in about 59 minutes. Its just a huge day for the markets, and we ....