stuart: good morning it is 10:0e to get straight to the money, this is selloff monday morning the dow was off a thousand points or 934, there is volatility obviously two and a quarter% decline we've been down more than the earlier the s&p down 2.7% nasdaq down 3.5% all of those are coming back a little the ten year treasury still down significantly on the day you are at 370 right now, price of oil that is down ever heading towards a recession and you don't have so much demand for oil were at $73 a barrel bitcoin taken on the chin all the crypto's are down 52000 and bitcoin half hour ago we had a 49000 that's come back a little bit. an important read on the services sector, what is the number. >> the number is 51.4 that tells me two things it is better than

expected and expansion territory because it's about 50, the number we were expecting because every little bit matters when you have an intense selloff when talking about recession fears the expectation was 51 in the june level was 48.8 which was at their contraction, this number a bit better than expected and it might be alleviating some recession out there. stuart: i think it alleviated the salad on the market. >> the dow is down more than a thousand. >> you down 794 on the dow and the nasdaq is down 533 and before these came out. >> the nasdaq was down 676. that is improving service sector had an improvement on the market, briefly but it is there, now this. it is a market selloff kamala harris what's behind it, and economic slowdown that points to recession the housing market is in deep trouble in the consumer

looks to be tapped out friday's week jobs report convinced investors that the slowdown is real. it did not help when warren buffett revealed he sold half of his stake in apple and he was a net seller of stocks for several quarters. it sends a signal would investor cuts his stock holdings, do you know he has $277 billion in cash. war talk is affected in the selloff, iran is considering a direct attack on israel his retaliation for the killing of the hamas leader in tehran last week, a wave of rocket attacks is expected, mayors and israeli towns have been warned with power and outages in tel aviv and underground bunker has been publicly revealed for the first time, it is omnibus, then there's politics in the election. ever heading to recession wall street does not want to hear about tax hikes on corporations or the repeal of trump's tax cuts, here we are in white knuckle territory, the federal reserve is being hammered for not cutting rates, a.i. looks

like a bubble that's bursting in the 162 million americans who have a stake in the stock market are looking at a cut in their net worth, when does the selling stop? brian brenberg with us this morning is it time for an emergency breakup for the federal reserve. >> at the federal reserve wants to look at is incompetent as people feared, they would do an emergency cut, it's a very bad idea, four days after you said were not good to cut rates to then cut rates, what does that look like it looks like they don't know what they're doing. if things are as bad as they seem they are, signal a bigger cup for september. you cannot be doing monetary policy willy-nilly, that's exactly what it looks like. stuart: and jay powell turned around and said 50 basis point cut in effect right now with the market go up or down. >> i think it would go down because investors would say what is this guy doing he did not know any of this, it was four

days ago he did not know any of this the top guy at the fed did not know it, we need somebody who looks like they know what they're doing, it would help if we had that at the fed this would be a very bad idea. >> let's get the politics we have a new poll showing 45% of voters say donald trump's policies will make them financially better off if he wins in november only 25% said the same thing about kamala harris, this selloff still in progress on wall street, does that hurt here's his chances in the election. >> the bigger risk if were really heading into a recession, that's what's going to hurt her. were getting signals to suggest that we are but it's a real economy that will matter to people, do they have a job or don't say, are they getting higher wages or aren't they. if we see a recession no soft landing then i think whatever chances she has right now drop precipitously.

stuart: we have to hear what are her policies, whatever economic policies she's trying to reverse everything at the last three and half years i'm not sure how successful she will be. >> all she wants to do is not talk about policy she doesn't want to reverse, she wants to not talk about policy she wants shiny pictures and smiling faces and crowds and ride that to election day, no policy, her goal is no policy. stuart: do you think she could keep away from the media? >> yes because the media wants to keep away from her, that is the jig, the media wants the same thing she wants because they would be asking her these questions already, that is what trump has to contend with he has to be the media with kamala harris, i think he's going to debate the heck out of the selection. stuart: i don't see how you can shield a presidential candidate all the way through.

can i introduce you to a president called biden have you been here the last three and a half that's what they did for him and she's going to play ball better than he did, they know what they're doing they know what they're doing. stay there. stuart: you're a lucky guy a big salad, jeff sica joins mina you think were going further south? >> i do, around 1205 last night if you follow astrology mercury is in retrograde, the astrologist say at the time of chaos, i don't believe that isaac is interesting but that's not the real reason that's not the real reason the real reason i know everybody's talking about the typical evaluations, interest rates as brian said concerns about the fed but what i see is a much deeper problem and that came out of japan where they halted the stock and bond market and there's a problem of

the credit market in the fed cutting interest rates, have they raised interest rates too much what were seated the worldwide credit market, we are seeing counterparty risk and what that means we could start to see an avalanche of credit defaults of with the banks. what does that mean for the u.s. market, that means you're going to get the quickfix rallies, you're getting it the anticipations of interest rates being cut, what we have in the banking system is a massive amount of debt, we have a trillion and a half dollars that needs to be refinanced in commercial loans which is what i do i'm in real estate industry, there is a lot of vulnerability out there and what i've been saying on the show all along is that the market obviously was

too focused on a few stocks. i sat on the show last week and said they would be lackluster but what i believe is going to happen we are going to see a credit crisis that we haven't seen in a very long time and is problematic. stuart: outside of the credit problem which are right to raise on the show, what about a recession are we headed to recession? >> i believe that we are, it's been the consumer they drive 70% of the market in the consumer has been pushed to the brink and were starting to see that. there has been a false belief that the strength of the employment market that had to do with the amount of employees that are being hired, what is in reality one point to million americans, u.s. citizens lost their jobs which were replaced by 1.3 million foreign-born or

illegal immigrants, that is u.s. labor statistics, that shows that the labor market was never as strong as it was and a lot of the new jobs being created by part-time workers, it's never been as strong as it was, now you're going to see layoffs and there's going to be more carnage in the future leading us to a deeper recession. stuart: when it comes to the market, how do investors protect themselves, what should an investor do today. >> they shouldn't look at astrological charts, they should not also panic, what they should do is look at where their over allocated, too many of us have too much money in the big seven, reduce those, just cut them. don't sell them entirely. stuart: how do you reduce your steak if you don't sell. >> you sell but don't sell completely you reduce the amount of shares that you have yet to raise cash because cash is king, the good thing about selloff i

like buying real estate and i think real estate is a good investment, i like gold the good thing about selloff it creates opportunities that we have not had in a very long time, cash is king, raise cash and weight but you don't have to sell everything you could have the relief rallies but people who are coming in and saying this would be bargain-hunting coming out now i think it's far too soon for that. stuart: we have a real debate, thank you for joining us. lauren is looking at the big movers, you better start with beyond tech as only down 5%. stuart: the second quarter losses quadrupled. now the pivoting away from the covid vaccine into cancer drugs. if you look at moderna not today there down by the same percentage and downgraded to rbc was also not a good day for the drugmakers. stuart: we do have a winner kelly nova.

>> are up 15%, this is the largest% increase center talk about 1987 this is the largest% increase since october of 1987 there is a reuters report that mars snickers people wants to buy kelly nova. stuart: i was on the air 1987 i have not forgot that. that was a crash at the time. disney where are we on that. >> i thought it might've turned positivist down over 1%, deadpool in wolverine success at the box office, after this weekend disney is now the first studio of the year to surpass $3 billion in global ticket sales. i thought it could be a winner but it moved down. it's only down a dollar. thank you coming up, israeli officials are bracing for an attack from iran, secretary of state anthony blinken calls it a minute, trey yingst has latest from israel, the global selloff continues and we are on it. more "varney" after this.

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stuart: the markets as the dow industrials having the worst day since september 2022, down 950 on the dow, down 600 on the nasdaq, we're going to check the price of oil. it is on track to close at the lowest settlement price since january you look at $72 a barrel right now let's bringing kenny polcari joining us on the phone. there's a lot of talk about the federal reserve being too late to cut rates do you blame the fed for the selloff. >> i blame the fed and the administration, i do blame them for part of it, not all of it but they get on the television

last week after the meeting they said everything's good to get away from the data they were calling for a recap so the market had a temper tantrum and then we get the payroll book which is weaker than expected, unemployment shot up another screaming for an immediate recap and by the way the fed comes out this week or today and makes 25 basis point rate cut that's going to do nothing and it's only going to create more angst because a be mad that it was a 50 basis points. stuart: everyone's looking for stocks that have fallen so much that they become a bargain price. do you see anything that's come down so far that you consider buying right now? >> amazon is a perfect one is down 21% i looked at the rsi it's below so suggesting is oversold at the moment which means you get about an amazon is one that i hold that the long-term name so if i bite down

23% even in the midst of all of this, warren buffett said he want to be greedy when others are fearful today and friday and a couple more days this week you will have fear brewing and you'll find great stocks with pristine balance sheet that are going to be a steal for people, back up the truck. stuart: back up the truck, i'm waiting for that. will check out amazon. thank you. here is another threat to the market anthony blinken says israel is bracing for an enema attack from iran and hezbollah, trey yingst is in israel for us, the latest from their. >> good morning, israel is on edge as a country braces for the attack from iran and its proxies, the wall street journal reports that iran told u.s. and heir of diplomats it is not worried if it's not counterattack starts a war jordan's foreign minister was in iran yesterday and today president biden is scheduled to

speak with jordanian king abdullah the second but there's been very little public iranian interaction with those trying to avert this crisis. with this in mind israel is taking steps to prepare for over a prolonged conflict is reports indicate an actual iranian response could come in waves and include extensive missile and drone attacks iran's top general saying this today. >> when it receives a firm responsive will realize it is been wrong they keep making miscalculation repeated this mistake this time to they will once again get a taste of her punishment. they will find out when, where and how we will retaliate is ambiguous and indeterminate. >> a document sent to mayors of northern city told officials to prepare for water outages, power cuts and evacuations and in jerusalem and underground command bunker for government officials was open by the security agency, preparation for war in the north and with iran,

spiting rages on inside of the gaza strip israeli negotiators travel to cairo egypt for talks about a possible cease-fire but made no progress israel has ramped up strikes against gaza in recent days going after hamas but killing dozens of civilians in the process, today we know that general michael carella is in tel aviv and he met with israel's defense minister this gives you a sense of the coordination that is currently taking place between the americans and the israelis. stuart: joining us let's bringing kt mcfarland, an expert or true expert on foreign po policy. as a war between iran and israel inevitable? >> some kind of conflict is inevitable iran cannot do nothing three of the top four people have been killed in the last ten days, the people leading the attacks against israel, they have to do something but will they launch an all-out war, the leaders have to think one of the senior

political leaders or the senior political leader of hamas was assassinated a couple blocks from where they live supposedly understate security protection, they have to wonder hasn't protection been compromised or infiltrated or are they at personal risk but they have to do something, the question is what will they do, one likely scenario is they have a prolonged missile barrage that will overwhelm the iron don't, another response that you have to look at and don't just think of this as israel or hamas and hezbollah going after israel. the houthis in yemen will be unleashed and what are they threatening they don't threaten israel as much but they threatened the red sea, they threatened to shut down the red sea for global shipping. stuart: the word talk is not helping the stock market. i want to move on to chaos in venezuela readably 100 people are being killed in street demonstrations in the protests

about maduro claimed election victory the u.s. is struggling to get countries to condemn the apparent fraud in the election. is this a major-league biden foreign policy failure? >> 100%. the venezuelans and maduro were in a box when trump was president he impose sanctions and they were able to export oil and when they could export it was at a low price, revenues were way down it was one of the reasons there was so much opposition to maduro it was corrupt and incompetent leader. because of the election with biden coming in and everything that trumpeted biden wanted to undo it biden undid the sanctions in the oil prices went sky high billing equipment and venezuela with high oil prices and not enforcing sanctions. what happens the inevitable maduro thinks is a dictator he declares himself a winner and election they did not win but

the united states was our response not to go after his money or his oil should not impose sanctions he strongly worded letter in trying to get his regional neighbors, maduro's regional neighbors to condemn maduro but they're not going to do it. stuart: i'm going to leave it right there, thank you for being with us today, very important. students are preparing for another round of pro-hamas protest on college campuses. good morning ashley, what are we going to see and where. >> more of the same in the same places, students heading back to the classroom later this month and pro-palestinian protesters have been sending the summer planned either strategy the schools divest from companies associated with israel and also release statements condemning the actions in gaza, some colleges including brand university and northwestern have

agreed to some demands and also vote this fall on whether to divest from israel but multiple schools including harvard say they are no longer taking official positions on political issues and some universities have strengthened rules against campus encampments. more than 2000 people have been arrested in these demonstration so far and i have a feeling many more will as a new semester begins. stuart: thank you very much indeed, brian brenberg with me for the hour how should schools prepare for what looks like coming at them. >> they should tell the students if you do this again you can have consequent is this time. apparently 2000 were arrested, did anything happen, did they get expelled, did they go to jail? did they pay fines i don't think anything happen the kids who took over the building at columbia they all got let off the pro-hamas, big season ahead

for us in the college presidents are the same presidents have any of them change? stuart: a tough situation. >> get ready it's going to happen again. stuart: get ready, the hairs expected to announce the running mate tomorrow we have the latest on the veep stakes, severe selloff in progress, the question is how long will a slight continue, ray wang has an opinion and he's next. ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat.

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stuart: it is a selloff, the dow is down a thousand points than the nasdaq down 690, it was worth a little earlier in the day but you're still way down, plenty of red ink, ray wang joining us, do you expect more selling a big tech. >> and fortunately i do we're in panic mode and sending out logic china is in serious trouble japan got crushed in the u.s. job numbers do not look good but it's one data point is going to be a turning point until we get to nvidia numbers in august 28 but the further earnings call so we can have to wait it out for a few weeks. stuart: is the sum of the air coming out of nai bubble?

>> is not necessarily nai bubble is a double sentiment that is coming here a.i. has not shown a lot of companies made money on a.i. there's only a handful but i do see this as a buying opportunity in the next couple weeks we have to see you'll be betting on the companies that are betting on a.i. and nvidia, microsoft, meta, adobe, oracle, potentially apple but right now it's going to be a bloodbath for the next three weeks. stuart: are there any safe areas? >> i do think there are a couple of safe areas, i think we have to wait to august 28 to see how nvidia does a little bit on amd on the chip stocks but is a global demand on china in the global demand on what's happening in japan that's could be making people nervous, the job numbers were supposed to help with an interest rate cut but instead we see the fed that is too late and i think that's been the big issue. stuart: if there was an emergency rate cut in the

immediate future, would that help or hurt wall street. >> there's a lot of debate on that, i'm on the side that says it's going to hurt because this is going to be the fed should have acted sooner, it's worse than it is a jump into early just to make up for the backend, i think that is the challenge. stuart: have you seen anything today that is a low enough price to make you buy it today? >> i'm really looking at meta and nvidia and you know me i'm looking at the bitcoin price, those three things look really low but i want to wait it out a couple more trading cycles just to see where it lands. stuart: you've not jumped in yet even though it looks attractive, thank you for jumping into the show on this for of the moment kind of thing. looking at the movers, lauren is here. >> is down 50% they suspended the 24 hour because of the volatility but city upgraded then today, they go from cell to neutral with anything other

price target and they see healthy growth, deposits are doing well, trading is okay, the stock is down but the upgrade is good news. stuart: i saw the airlines down earlier in delta as well. stuart: recession fears what is a story there. >> there is a story with crowdstrike, they're not to blame for the outage that canceled textile plus delta flight when the software upgrade was bad of the computers did work. delta and crouched i said were not to blame we tried to help delta and sent people for free on site and they said no but delta says the outage cost is $500 million and they threatened to sue, which one is it, who is to blame. stuart: vice president here is this expected to announce her vp pick by tomorrow. in the two have to head to philadelphia to hold a campaign rally brian llenas is in philadelphia, how would harris make the announcement. >> good morning, vice president

will likely make that announcement tomorrow by way of video on social media and according to politico and chosen here is as is vp back in 2020, over the weekend the vice president has been very busy interviewing six potential vp pics, yesterday she interviewed tim walz, arizona set a mark kelly and pennsylvania governor josh shapiro, she also interviewed transportation secretary pete buttigieg, kentucky governor andy beshear in illinois governor jb pritzker, governor shapiro has been a front runner who has delivered a must win state here in pennsylvania, in 2022 he won the governorship by 15 points outperforming president biden's 2020 when and every single one of the 67 counties. progressives are voicing their concerns was shapiro, the jewish governor for being too

pro-israel and for handling as a sexual harassment of one of his top aides pennsylvania senator john fetterman has told harris' team that fetterman is also worried that shapiro is to focus on his own personal ambitions to be vp, they have been political rivals for years, the president of the powerful united auto workers union says he was concerned about shapiro's backing of school vouchers, he has endorsed walls but says kentucky governor beshear should be the guy. >> i believe that harris beshear ticket would be unbeatable and both of them will be dynamic candidates but we really like tim walz from minnesota and i think he's an awesome guy for labor and a hundred% behind labor and those of your top two if we had to pick any. >> another front rather senator kelly spark some speculation and he was out of the running when he posted on social media yesterday, now my mission is

serving arizonans the post that's been deleted and his team said it got taken down because it was being misunderstood, tomorrow night will be the first rally that harris will have with her vp pick right here in philadelphia, they will then go what is six battleground state tours over the next five days together. stuart: thank you very much indeed, it's been 15 days since kamala harris has emerged since the presumptive nominee and she is yet to hold a press conference. joe concha joins us this morning if she were to appear at a press conference she will have to walk back all her liberal policies, i don't see how she could do that. >> i really didn't mean to say i was 100% against banning fracking and ending the fossil fuel, abolishing offshore drilling and abolishing eyes in sanctuary city giving free healthcare to illegals, agreeing that is okay for 10-year-old daughter or son get the sex change, i could go down the list as far as her policy positions, it will be impossible.

when she rented 2020 she did not receive one boat when she ran for president because she dropped out in december 2019, and 2024 she's the nominee without one boat from the american public, 15 days more than two weeks and she has not taken one question, the reason why just like with joe biden when you take, but here's out of the teleprompter and descriptive remarks it's cleanup in aisle five, 17 and 24 and 28 because she doesn't have the ability to speak temporary nicely and all the things she would have to defend are indefensible i don't care how articulate you are. >> there could be a connection between the selloff on wall street and kamala harris and the election because she still is very much in favor of a much higher taxes on corporations that something that wall street can't handle if we go into recession. >> wins the last time we had a president raising taxes, walter mondale 198411 state i'm not saying that's going to happen but preparing enter particularly with this backdrop in the

bloodbath on wall street right now the raising taxes things is something she's going to have to walk back or defend in its indefensible. stuart: what is this book progressively worse, why today's democrats ain't your daddy's donkeys i love that latest book, great title give me a thirty second pitch. >> this is not the party of the working man and woman is a party of elites the 40 richest congressional elites are all represented by democrats isn't that incredible the turn that they have taken we are so far gone from jfk the supported aggressive tax cuts into recession we had a democratic president who is pro-life from jimmy carter, bill clinton worked with the other side to achieve a balanced budget amendment but we had surplus in the late '90s, unthinkable if your democrat barack obama known as the supported and chief because he had a dhs secretary nj johnson to enforce the law and did his job, these aren't

your daddy's donkeys if you're embracing kamala harris inner policies. >> i lived in america for 15 years and it's been quite a turnaround. thank you for joining us. hurricane debby battering florida's big ben after making landfall as a cat one storm we have a report from florida. the market selloff continues, are we headed for a recession, jason katz on what investors can do to protect themselves. that is next. ♪ everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle.

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solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. stuart: that is a market selloff the dow is down a thousand points 2.7% it's been this way for the last 45 minutes, we have not fallen further we come back a little but we still have a thousand as per the nasdaq that was down close to a thousand points now is down 600 we come back on that one, jason katz joins us, should the fed jump in

with an emergency rate cut. >> we were talking about this prior to the segment and that equivocation they should not do that they send shockwaves to the market they got it wrong the first jackson will go around and they may get this wrong the second go around, the fact that they had a golden opportunity a few short days ago and did not seize the moment is what's causing some of the selling for them to now step in and cut rates to be completely and no-confidence it would be a show of no-confidence of this federal reserve. stuart: if the fed is partly responsible for some of the selloff what else is responsible for. >> where do i begin first of all complacency for months people have thought this is going to happen in perpetuity. secondly you have an unwind of a carry trade in terms of what happened with the yen and u.s. assets that has been years in the making and people who have been basically buying stocks and

crypto's without regard for evaluation, all of this being said we were talking about this offset in my three decades on wall street i've seen this movie before, drawdowns happen, 10% drawdowns happen every year on average, take a deep breath, ask yourself am i on risk assets or thoughtfully allocated. i'm thoughtfully allocated the best move is no move, take a deep breath and not see how things play out in the ensuing days. >> that's wrong with the two-year treasury, on the screen a moment ago, 3.8% dead safe and a little bit of a tax break. >> there's absolutely nothing wrong with that, the rates are probably going lower in the process the bonds are probably going higher but in the long run and the after-tax basis of that return you're not going to be inflation and reach her goal, if

your cash and cash alternatives in your fixed incomes while the getting is good then lock-in rates, the fed is cutting 50 basis points next meeting and probably another 50 after that in the days of where rates are now are going to be behind us, seize the moment. you think we get get a stock bounce back. >> at the next day or two we will all know what the month of september and october have been historically. i would not catch the falling knife, let it settle and pick it up by its handle. stuart: what should investors do, don't panic obviously but what else you sit back and look at this thing. >> i think that you have to ask yourself do i have a financial plan and my disproportionately weighted and risk assets if you are pedal to the metal and risk assets, you better call your advisor, get online and dial back the different thoughtfully allocated. stuart: how do you dial back

without selling. >> part of making money is losing money, markets are still up on the year, most people on these assets are still making money from when they bought it, they cannot pick the bottom, they cannot pick the top, you want to take a chunk out of the middle that is the name of the game. stuart: i will consider that in my eminent retirement. i might have to put it off. thank you for much indeed, stocks plunging at the global market route continues, look at that, what you're seeing is the vic's that is wall street's fear gauge briefly top 60 for the first time since march 20. a lot of fear out there, full market coverage, don't go anywhere, we will be back. ♪

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stuart: it is a market selloff, still there if i say is stabilized at minus 1000 for the dow much like stability but would not fallen much further than 1000 points down that would be 2.6%, the nasdaq was down 5%, now it's down 3.8% about a bit of come back there, elon musk

gave a promising update about the neuralink brain chips, i am interested, what happened. >> it is fascinating neuralink has successfully implanted a brand under brain chip into a second patient and paralyzed patients use digital devices by just thinking alone, the device about the first patient who was paralyzed from a diving accident to play video games, browse the internet, post on social media and move the cursor on his laptop all by thinking it, musk says the second and play is working well and he expects neuralink to provide the implants to a more patients this year as part of the clinical trials it could be an absolute game changer, that is fascinating. stuart: very interesting, thank you. doctor siegel is with us, good morning to you, we could use a

little humor this morning because were in the middle of a stock market selloff, i'm going to bring this a new study in the high school yearbook photo could be linked to your longevity. individuals who rated as least attractive have shorter lives compared to the more attractive peers. i'm looking for something a little lighthearted, i found it. you're looking grim. >> first of all this only took place in wisconsin, the question is is in social science and medicine, only wisconsin where you have to be good looking, i don't know but they followed over a thousand people over many, many years and they found that those who were good-looking in the yearbook ended up doing better than job prospects they did better in terms of living longer and less stress. you know what it means if you

have a silver spoon people treat you better like you and me, were former models and we get and treat incredibly well. stuart: in all seriousness, your self image is very important to how you live out through your life. isn't it. in the real headline isn't whether you look like something on a poster and it's more how do you feel about yourself. if you feel good and you have confidence, i'm stuart varney the best host in the business marc siegel great medical doctor, we know are worth and t makes our stress levels and blood pressure go down, how do you like that. stuart: this is from brian brenberg's high school yearbook photo that was it, what do you think that picture says about his longevity. >> he has not aged a bit. >> according to wisconsin he is

going to succeed, he is absolutely going to succeed. look at the profile, look at brian's profile. it's unbelievable, the ratings are going up right now looking at his profile. stuart: you're saying all the right things, that's very good indeed, thank you very much. he's probably going to invite me on a show, guaranteed. >> of a funny story, real quick i was supposed to play in the segment so i asked my father to send me a picture of my high school graduation and he sent me my college graduation he didn't even know the difference and i did not notice until five minutes ago. >> doctor thank you for being with us your good sport and we always appreciate that we will see you soon, brumberg you're a good sport, thank you for providing the photograph. >> if you look at the mere saying i'm good enough, smart enough and long life from their and we watch on the big money

show today, weekdays at 1:00 p.m. eastern time, big check, were down 900 points in all 30 are in the red at this point the s&p 500 losers, plenty of them the nasdaq loses a dime a dozen, steve forbes on the wall street journal editorial board slamming trump's proposal to and taxes on social security benefits, bill hammer on a cnn political analyst saint governor shapiro will be the worst ready-made for harris, charles payne on the market signoff, goldman sachs lifting the chances of a recession, the above a clock hour of "varney & company" is next. ♪

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>> look at ism services and we get ppi and cpi next week. if they come in good, all calm on the western front. >> we're in a panic and there's nothing rational and all psychological. >> the economy is going in the wrong direction fast. we might need to make a change. >> the fed is behind the 8 ball here. there's no question th