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And an auto workers strike just revving up. Tox on top of twin jolts that could have consumers hitting the brakes. Sellers on wall street, well, hitting in mass. First to capitol hill where the clock is running out and now fear of a prolonged shut down is beginning to set in. Is there anything that d. C. Can do to stop it . South Carolina Republican senator president ial candidate tim scott is here. Bipartisan texas duo, mike mccaul and henry cuellar. Your world is now. Welcome, everybody. Im neil cavuto. We begin with chad pergram on capitol hill on a countdown to a shut down. I guess right now, chad, is looking more and more likely. What can you tell us . Neil, good afternoon. The government is all that shut down right now. Theres no rescue plan out of this culdesac. The house cant approve its own bill to fund the government for a month and bolster Border Security. Th ....
It only went up by a little bit but this is a ten-month high. that suggested people are staying unemployed for longer. hiring has slowed down and what the fed is try tock get at. if you look at the fed forecast yesterday they put out new numbers, they say the unemployment rate going from up from a historically low level of 3.7% to 4.6% next year. that is not high overall. in the last two recessions we saw much higher levels of unemployment but that still implies 1.6 million more people would be considered unemployeded. none of this sitting well with the market. let s check in on the dow and market, we see dow is down 950 points, almost 3%. s&p up seeing sharper losses for the nasdaq and look at the big board. almost a thousand points now for the dow, it s actually near session lows. i think the market is in kind of a weird place, ana, where good news is bad and bad news is bad. what i mean by that, good news ....
erika, this clearly is some significant turbulence on wall street. as you mentioned, u.s. stocks down very sharply, basically at session lows, as we speak. but we ve got to keep in mind, this comes after a really big rally, just yesterday, the dow closed up more than 900 points, 2.8%. the s&p 500 was up about 3%. it was the market s best day in just about two years. and the fact that markets are back down, i think, really just underscores the enormous uncertainty facing the u.s. and the world economy right now. we re dealing with a period of very high inflation. the jobs market is really strong, but it s arguably overheating. and so the federal reserve is coming in, they re acting like the firefighters. they re trying to put out this inflation fire by slowing the economy down. they re raising interest rates. and so investors initially were very happy yesterday, because the chairman of the fed, jerome powell, he signaled that the fed is probably not going to do even bigger rate increa ....
Done so at least in this party. there is concern that the president of his decisions including title 42 on the border situation are rattling some democrats enough to the point that you have senator jon tester of montana think it s not a good idea. last time i checked, montana is not at the southern border. what do you think is going on it? speak with the other senators who voiced concerns, some are up for reelection in the midterm election this year. those include senators kelly and has an. even looking at the polling on the issues, also very concerned about it. neil: francesca, thank you very much. take a peek at the corner of wall and broad. session lows. dow down better than 13 points. interest rates backing up the 10-year notes the highest it s been in about almost three and a half years. that s a direct correlation to ....