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who can t afford it. martha: the dow is up a lot on that news. in less than 24 hours, we ll know if the u.s. is officially entering a recession. charles payne joins me on that. and the other big story that we start the hour with here on this wednesday, china. warning the united states saying that when it comes to nancy pelosi s trip, it s a red line for them. china recognizes obviously china believes that taiwan is part of china, that it s not an independent country that can greet u.s. officials on their own. when asked were republicans from the hill will join her on this trip, the speaker said this. i never talk about travel. it s a danger to me. so why is the white house trying to dissuade this trip? we ll ask john kirby about that. he joins us in a few moments from there. first, to gillian turner covering this story for us today. it s a story that keeps moving all throughout the last couple hours, gillian. what is the very latest? martha, this just in. the secr ....
Terms. they usually time stamp it a year after its ended. they hope to have political cover for the mid-terms. most americans feel like they re in a recession right now. they re having trouble, real financial troubles. today, goldman sachs and j.p. morgan raised their second quarter gdp estimates. one is looking for 1%. one is looking for 1.4%. we had pending home sales. it cratered. this is down 20% from a year ago. there s factors changing so fast, so quickly. jay powell said that. he said i don t think that we ll get a recession tomorrow. he did say gdp is revised significantly. whatever that number is, it will be changed. i think it could be lowered no matter what we see because of the rapid pace that the economy has been deteriorating. martha: people get it, as you said and they changed their behavior as a result. ....
Anything about theranos anymore. mattis is one of these kind of bold-faced names that could be called by the government. other people on the government s list include former secretary of state henry kissinger. he was also on the board of theranos as well as rupert murdoch, the media mogul. he invested about $100 million in the company. this company at one point was worth $9 billion before it cratered. it really captured the attention of silicon valley. elizabeth holmes, for her defense here, is using a couple different theories. one that her lawyer argued to the jury is failure is not a crime. it really kind of puts this whole culture of silicon valley on trial, fake it till you make it, but there was a lot at stake because these were blood tests, tests that according to prosecutors, that doctors, patients and investors made decisions on based on what her representations were. she faked a lot of powerful people too who bought this before it fell apart. kara scannell, thank you so muc ....
I think i m saying that right. it s worth about $750 billion as opposed to $13 trillion traded in new york. but the myse is the main stock market in russia, today it cratered. it lost nearly 3% of its entire value today. what happened in russia today, the equivalent of that happening here would be if the dow dropped 500 points in a day. the reason the russian stock exchange cratered today is apparently because of sanctions, the wrench that s now being tightened arnds russia s economy in the united states and europe. obama announced the third escalation of the sanctions in russia. in making that announcement, president obama said he was also prepared to escalate sanctions even further to include whole sectors of the russian economy. it now appears that those sanctions and the threat of new sanctions are having at least some of their intended effect. the wall street journal today reporting that russia s blue ....
Exchange on the planet, the nasdaq, you have two exchanges, you have the tokyo exchange in japan, the ftse exchange in lontd. those are the big name stock exchanges, but the big ones are not the only ones. this is the russian stock exchange which operates out of moscow. i think i m saying that right. it s worth about $750 billion as opposed to $13 trillion traded in new york. but the myse is the main stock market in russia, today it cratered. it lost nearly 3% of its entire value today. what happened in russia today, the equivalent of that happening here would be if the dow dropped 500 points in a day. the reason the russian stock exchange cratered today is apparently because of sanctions, the wrench that s now being tighteneds around russia s economy in the united states and europe. obama announced the third ....