with little relief in sight. the s&p sinks another 1% so far this morning. greece is set for a reckoning, with its own prime minister stepping down. could this have an impact on the country's bailout reforms? olivia: emerging markets and commodities could be in the beginning of a vicious tailspin. jeff curry ways in on just how bad the commodity rout will get. ♪ olivia: good morning, everybody. welcome to the bloomberg market day. i'm olivia sterns. matt: i'm matt miller. want to get to a market check. we are headed for the worst week since may 2012.

the s&p 500 is down about zero point seven time percent -- 0.75%. the dow jones is falling down well below 17,000. the nasdaq is off about 0.73%. out whatard to figure the exact catalyst is, but some disappointing numbers out of china overnight. matt: i think it is a pretty clear catalyst. is slowing economy and that is weighing on the price of oil. oil is headed for the longest run of weekly declines in almost three decades. let's look at what is making news on the bloomberg terminal at this hour. president obama is trying to keep wavering democrats on his side.

urged a new york congressman to back the plan, but the letter is directed to all members of the party. it looks like it is no more mr. nice guy for jeb bush. jeb bush fired back at donald trump yesterday. >> i'm a proven conservative with a record. he isn't. he has proposed the largest tax increase in mankind's history. i have been consistently pro-life. recently, he was still partial-birth abortion. i have never met anybody who thought that was a good idea. olivia: a little more fiery, perhaps. he pointed out the trumpet been a democrat longer than he had been a republican.

there was an attempt to form a coalition government in egypt. -- in turkey. the turkish currency hit an all-time low against the u.s. dollar last week area the government that has soared. it was a record-breaking bond sale for apple. ever the biggest bond deal for a nonfinancial firm. until last november, apple had only sold bonds in the u.s. bank is investigating money laundering in its russian unit. that probe is focusing on whether a senior employee took bribes. bloomberg news reports that unexplained funds were found in of the employee and

the spouse. a shaky outlook from the world's biggest maker of farm equipment. forecast. cut its last year, deere cut hundreds of jobs. olivia: an army pilot and military police officer have become the first women to graduate from the army ranger school. only a fraction of those who begin the course complete it. women whoe of the completed the ranger course. so impressive. those are your top stories. matt: coming up in the next hour on the "bloomberg market day" olivia: much more, including alexis tsipras stepping down. how much would you pay for

a parking spot? $1 million. those are the new prices. stay with us. olivia: the u.s. open begins in new york in 10 days. just amateur you willing to ?pend to attend the luxury offerings might surprise you. i heard you could pay $100,000. matt: if you put everything together, you could blow $100,000. olivia: i think there are better uses for the money. matt: what if someone brought that for you? olivia: i would definitely go. matt: let's get straight to stocks. the drop in emerging markets sent stocks for the worst weekly loss in more than two years.

with sort ofs here the run down of what is going on. julie: yes, i am. [laughter] i didn't know if you had more to say there, matt. matt: i have so much more to say. [laughter] julie: we are still seeing a four-day selloff. the feel like this may be capitulation. we may see it bounce for a stabilization. they pointed out that we don't tend to see the highest selling on a friday. we could see it of a. it is abating for now. take a look at my bloomberg terminal. these are all the sectors. pretty much all the sectors are down. the least worst

performers yesterday. we saw lower bond yields. materials, industrials also selling off. i wanted to talk about the correction that everybody has been waiting for in the s&p 500. we have a year to date chart. back onrd was reached may 21. we have a 5.3% selloff since then. the correction, we're halfway there. we have not seen a selloff of at least 10% in four years. i just quickly wanted to look at the s&p over the past five weeks. at the depth of the selloff when and sawnderway today the selloff at its deepest, we were seeing the biggest weekly selloff in about two years. it looks like it is going to be the worst week of the year, down 2.3%. you can look at the other markets around the world and it is worst week in long periods of time. olivia: fill in the blank.

european markets heading toward correction. the market heading toward 3500. thank you so much for the update area matt matt: for more on the global selloff, let's bring in steven wieting. you are an economist. a very busy man kindly giving his time to bloomberg television. matt: all right. let's talk about the global selloff. it does seem like every day we get a worse piece of news. the latest shows that the chinese economy does not look like a strong growing economy area a large drop in the currency

does not make a lot of sense. the world away from china is probably growing at 1.5%. a large exchange rate depreciation would get them a great market share. i think if you look at the data it is ae pmi ratings, good idea to take a look back at 2008 and 2009. olivia: this is the lowest reading in 77 months. >> you look at what readings are actually like during contractions and activity in the world economy and they are dramatically lower. there is no new downturn here. there are several things we have to consider. the fed, china, oil. the fact that you have to deal with uncertainties. you were dealing with the uncertainty of a new prime minister in august. these are all bad timing for these sorts of things. youn't think you had -- if had a good piece of news out overnight that you would have

the same price dynamic, the sellers would look for another reason to selloff. matt: we just had a slew of earnings were in other companies lamed poor result on the strong dollar. if we have the fed raising in , if you have them dropping their trading ban and seeing their currencies fall will weead zeppelin, see earnings hit in the u.s.? >> a lot of folks did not count of this extending and going if i was to take a drop in earnings or a big dragon u.s.ngs, a strength thing prices falling petroleum , which generate savings for domestic consumers, these are the way that you would want it to happen. matt: that is not listening to

investors, though. >> where are we? matt: look. , they were down 3.5%. it just does not look good for the corporate outlook. a this is definitely meaningful drag on earnings and it makes it difficult area if you look away from these factors, we have some growth. and is very far along seeing some sort of dropped now, as we did last october, you have seen intermittent rises in currencies. there is a serious issue. you have seven years with the fed at zero. crawl and slow adjustment after having a currency that was way too weak. you can see remarkable amounts of foreign exchange volatility on tiny policy changes. policy stasis can have problems.

olivia: it does not look good for facebook, apple, netflix, google. are you getting a fair amount of phone calls from anxious clients? do they hang out in cash? months,nk the coming you will see a remarkable snapback in the things that are sold off. the world has become so wired to this. away from that, this is going to be a tough month of sweating it out. olivia: people should sweat it out? >> i think so. if you have gone back a couple of weeks ago, it would have been a better market to hedge been realigning your entire portfolio. third quarter periods are not indicative of year returns.

it definitely tells us nothing about full-year returns. olivia: paul and a cone -- annacone made the same point. matt: it is very interesting and compelling. thank you so much for joining us. did you just go to shake his hand? [laughter] matt: i did. olivia: still to come, much more on the bloomberg market day. the market continues to move. we are going to go live to athens next. we are going to figure out what is next for alexis tsipras after he called snap elections a month from now. ♪

matt: good morning. welcome back to the "bloomberg market day." i'm matt miller. i'm here with -- olivia: olivia sterns. matt: a pleasure to be here with you this morning. it looks like we are going to finish up the worst week we have seen may 2012. is our senior markets correspondent. she joins us with more bad news. [laughter] julie: sorry. the good news -- well, we are back to being down as much as we were earlier. we had had a little bit of a bounce back toward 0.5% down and now we are down to about 0.8% down for the major averages. it might be the worst week down since late december. it is a bad week. we can say that pretty clearly. matt: unless you are short. julie: unless you are short.

then you are doing well this week. i wanted to take a look at some individual movers. intuit is one of them. they are going to sell units, including quicken, it's home accounting tax service. it is forecasting sales and estimates. trail it is trying to focus more on small businesses and individuals. investors are not happy about this. you guys talked about deere. i wanted to highlight it again. it is seeing its biggest one-day decline in a few years. equipment sales will fall 21% for the year. i want to take a quick look at corn prices. deere is very dependent on what we have seen from corn prices.

reach a recordrn back in 2012. as the prices were falling, we have seen a similar thing to the oil market. people grew more of it because they wanted to capture the higher prices. but as they grew more of it, then there was a corn surplus and then the prices went down. so that has continued. matt: can you imagine what would happen if the government dropped ethanol subsidies? julie: ethanol is kind of marginal. matt: i'm going to look into that. you always hear that ethanol is one of the ways that the government went into have farmers and then we all have to have 10% ethanol in the gas for our cars. isie: either way, deere going to drop 21%. olivia: we consider that a global bellwether? it is frightening. a difficult environment for personal computers and printers, which account for about half of

hp's business. hp is preparing to split into two units. board of two on the for peltz. who would've ever thought that they would think that was a good idea? adidas is trying to regain its reputation for cool in the united states. they hope rapper kanye west will do the trick. they're releasing the third version of its popular yeezy boo t shoe. adidas has been losing market share to nike and under armour for years. i think those look pretty cool. uhhhhh... you would wear those? i want to focus on what is going .n in greece

alexis tsipras announced he will be stepping down, forcing the greek people to head to the ballot boxes all over again. tom mackenzie is in athens with the latest. planned moveke a to get voters to back him again before all of these horrible austerity measures actually kick in and they realize what is owing on. >> absolutely. some would say it is quite a cynical move. others would say it is practical. saying, i'm your man, i can get debt restructuring. he is also banking on his popularity. he is still by far the most popular head of a political party in greece, according to the latest polls. he is hoping that will translate into a strong mandate for him. the opposition is trying to form

a government, but the numbers do not add up. it is all likely to focus on september 20, which is when most people think the election will be. on the one hand, tsipras can count on his popularity and come on the other, he was the man who called for a referendum and that he went and signed the bailout, so there is a deficit of trust among some in the greek population. olivia: i could see why that might be the case. he did get everybody to agree to a package of austerity measures that was much tougher in almost every sense and what they rejected in the referendum that he called. i think we partially lost their shot with tom. we've got him back, i'm told. tom, i see you, i hope you can hear me. give us a sense of where the greek economy is right now. back incontrols are place, banks every opened, are things picking up in greece? >> in a word, no. , very strongnger

anger, in greece, just very -- just frustration and resignation. businesses cannot borrow. banks need to be recapitalized. now you have weeks of electioneering that has ground the political process to a halt and that is going to hurt the economy further. reforms kicke the in. there is a lot of pain ahead. there was a lot more pain for the greek people. the anti-austerity party is looking to capitalize on that and take back some of syriza's vote. matt: still ahead, how much would you pay for a parking spot if you desperately needed it? what is the most you would pay? olivia: can i live there? matt: only part your car. olivia: double digits. i would pay $20 or $30.

♪

as parking in major cities is becoming increasingly scarce, developers are charging record prices for spaces in luxury condos. arenew spaces in manhattan charging $1 million for a spot. that is four times the median price for an average home. olivia, you just bought a new at in manhattan. did you get a parking spot? olivia: i did not. maybe i should have tried to negotiate one. clearly it is a hot commodity. $1 million? matt: i can't imagine. some of these condos cost like $47 million. carriver takes care of the and hopefully takes it home

every night if i make that much money. aivia: you could probably pay driver on salary to sit outside in the car and drive around looking or a parking lot and whatever the gas costs. matt: i would personally drive someone around and sleep in the car for a whole year for a million dollars. that, too.ould do if anyone needs a driver, call me or call matt. matt: the nanny may be drives to work. olivia: we are speculating. that is a good point. that s is bananas. matt: they with us. ♪

matt: welcome back to "bloomberg market day." i am matt miller. first off, oil is on the longest

losing streak in almost three decades. crude is set for an eighth straight weekly drop, futures fell more than 1% in new york. ast texas has been trading at 140 one dollars or less per barrel. no sign that the global glut will go away. in july, they pumped oil at the fastest pace for the month of recorded history. business software company salesforce.com raised its forecast for the fiscal year 2016. on the conference call with the ceo could not have been more bullish. >> as you can see from our strong results, along with the incredible momentum we are having with our customer success platforms, and our sales, wevice, marketing, and apps, are on a trajectory to deliver $10 billion in revenue faster than any other enterprise software company in history. it has been a phenomenal first half of the year. matt: salesforce has spent the past years developing products for marketing, corporate social

networks and data analytics. asla showrooms are getting facelift. the electric car maker has launched a wholesale revamp of stores worldwide. is andy kiosks and will begin selling merchandise such as a $300 tote bag. this comes as they prepare to debut their first suv, the model x. has met with world cup sponsors in the wake of the corruption crisis that has rocked soccer's governing body budweiser,rom coca-cola, mcdonald's, and these the. they all attended the meeting. the company's say they reiterated expectations for robust reform and said they will continue to engage with fif a. ruled still buy stuff bladder. those are your top stories. let's take a quick look at markets. the boards and this

global selloff this putting u.s. markets in line for their worst week since 2012, since may of 2012. yesterday, the dowd joe -- the dow jones posted the biggest drop in 18 months. it is down 177 points. 16 thousand 813 is your number on the dow. nasdaq more than 1%. take a look at some commodities we are focused on. oil is a huge one and you see oil down one and two thirds percent. right now, $34 a barrel. let's take a look at gold because it has been doing quite well but currently little changed at 11:52. coming up on the bloomberg market day, the u.s. open kicks off in new york in 10 days and the ultimate spectator could pay

$100,000 at the event. we tell you how, plus, back-to-school shopping is underway. one retailer has figured out how to stand out amongst the crowds. we will bring you that story, plus, currencies across the world from kos six don's -- from we will plays -- k which one will be next for a devaluation coming up in the next hour. there are differences in how each strategists says where his or her market is heading, and the man u predicted oil will want to the $45 range last month is no different. curry onachs and jeff his methodology. >> these are three themes that have been a decade and that decade -- been a decade in the making. the third one is divergence in growth which -- tom: the money question is, do your three d's of the financial

system go over to the economic system? you havewill blink and to wait until the fourth d, december. jeff: it is pricing for this september, but even they are not taking 2016 off the table. d's ourh and the sixth data dependency. brendan: nicely done. jeff: let's look at the notes. if you run those and those assumptions fourth of the data we have had, what do you get? -- irms of thinking about call it the negative feedback loop. every time you have a drop in the oil price it leads to a stronger u.s. dollar which leads to a weaker currency in the austrian dollar or chilean peso and reduces the funding cost to

an emerging market -- loop.o that is a in your study of history, how do we break that loop? you have to clear balance sheets. when do we see the catharsis to clear balance sheets whether it is dollar, peso, you name the company, when do we see the clearing? like samson energy? billion oftook $70 write-downs in terms of thinking about where they are and in terms of -- they are in the emergency room. it out of theget way, goldman sachs this morning on the future of noble resources and singapore in glencore, do they need?to go into a full-scale restructuring will we see that in august? jeff: the timing is depending on how severe the commodity market is or is the environment. it is pretty hostile right now, but we need to see it much more and energy. even though oil back down to $41 a barrel on a spot basis, oil

traded below $50 a barrel. that tells you that financial stress is a lot harder. not only do we see the back oil price coming down, but it is going around 9% instead of 20 -- 25%. tom: so they are on edge and were exposed as we go into autumn. jeff: exactly. brendan: green of the dynamic between china and commodity countries, you look at indonesia, malaysia, what is the linkage between those economies and our economy? much the linkage is not so directly a trade or something of that nature. the way i think about it is what happens of the u.s. dollar? as it begins to strengthen, it puts downward pressure on those currencies. let's take the example of the recent devaluation in china. it lowers the cost of producing steel and a lot of commodities the export and the push them onto the global market which exacerbates the glut of puts more pressure commodity prices. clearinge is the shell

-- if there is price and quantity across this, abby joseph cohen and told me this week that she has been resilient optimism on u.s. equities. can you confirm that after what we saw yesterday? jeff: to answer about the market clearing price, unfortunately, when you look at commodities, they go from corner solution to corner solution. the back and may give you an idea of where the clearing price is and a market things $50 a barrel, but we look at what is going on and they typically run a surplus until they hit a wall. tom: we will continue on corner solutions would you can look up on wikipedia. part of the definition is you get a jump condition. was yesterday and the beginning of a jump condition to any repricing? jeff: when you look at what happened with the backend -- actually, the front and of wpi was up a little bit but the back and was off 2%. tom: this is the future view of oil, coming down even as the present spot price stays static. what does that mean for saudi

arabia? jeff: it means they will have a difficult time. i'm not ready to say they are in a crisis mode because it is important to remember they are going to a micro repricing like the rest of the world. their cost is going down. fascinating discussion with goldman sachs jeff curry speaking with "surveillance" team. you can watch talent all day long. still ahead on the "bloomberg market," a lot planned. first of all, when the courtside seat is not enough. the ultimate u.s. open experience can be very expensive. we tell you just how much and how you can spend that money, coming up. ♪

matt: welcome back. one hour into "bloomberg market day>."

stocks falling across the board. i want to get you caught up with that market action and kick it off in asia after stocks tumbled after the u.s. market dropped the day before and then what we terms off china in economic data, the shanghai composite fell about 4.3%, the nikkei dropped about 3% and the cost be dropped just over 2%. justr as -- kospi dropped over 2%. as far as those numbers are concerned, manufacturing fell to the lowest level in more than six years. stephen engle followed -- filed this report from hong kong. n: king has not been this low since early in the financial crisis. marketliminary august pmi coming in net 47.1, indicating a six-month in a row of contraction in manufacturing. this gauge surveyed mostly private-sector manufacturers,

factory employment, new orders and you export orders are falling at a pastor -- at a faster pace as the economy grapples. the fallout from property investment and a volatile stock market. matt: thank you for that. now i want to get out to berlin where constant nichols has the latest from europe. hans: nothing but negativity over here. it is across the board. on the upside is it is friday in august, so trading volumes are a little down. we saw the cac 40 in france at down 1.47%. composite down 1.74% last i checked. even the dax in negative territory and that is being led by lay-ins a. it was down 4.5% and energy aboutn of rwe also down 2.5% on the day. on the currencies, we have seen the euro gain on the dollar up about .6 of 1%.

looks like some dollars that have been betting the federal reserve would raise interest rates in 20 15, shifting attention to selling emerging-market currencies. he see the euro and the yen rallied from losses earlier in the year. we also sought german factory growth, so pmi numbers came in better than expected. they lifted the composite across the eurozone, pmi to 54.1, it was 53.9 in july. it is close to a four-year high reached in june. the french index still not looking all that good, down to a four-month low. quick note on government debt, greek of 17 basis points and -- investors are concerned about the political uncertainty and that, on this friday afternoon, i send it over to julie. julie: thank you, hans. you've got to be relaxed at least it the market is selling off. you've got to feel comfortable

if you are along the market because we are seeing it accelerate. we had some starts in the session that was over one hour old, but interesting in the amount of volatility we have had in that short period of time. the nasdaq yesterday was the worst of the major averages in terms of percentage point. we have been talking about the terrible week for the major averages. for the s&p 500 it is now down nearly 4% on the week and is not pointed out, the worst since may of 2012. ande continue at this pace the u.s. stock market has caught up with the nervousness expressed in global stock markets and emerging markets and commodities as well. let's take a look at the map on my bloomberg terminal because when i last glanced at the s&p 500, only 27 stocks were in the 500 that were higher. we are seeing broad-based selling the technology, energy, materials, and industrial.

all of them declining and leading declines. we have been talking about these so called fab five. when stocks were rallying, that rally was a two beatable to only a handful of names. those handfuls are falling back. you can also call them fang, i suppose it would have to be with a longer a because it has apple and amazon. faaaaang. matt: i agree. i will use fang as well. julie: either way, they are pulling back. matt: big momentum stocks pulling back and people rotating out of those. it may be a sign that that play is over but you never know in a market. thank you so much for that. senior correspondent julie hyman. let's get to the top stories we are following on the bloomberg terminal. for new buyers burned in the disaster zone in china sport after a massive warehouse explosion killed at least 116 people and contaminated the area with toxic chemicals. technicians have detected levels timesai, asthma just 356

the evacuated zone. normal levels outside of the zone, so stay away. and you study says that california can blame about 1/5 of the doubt on climate change. a shortage of rainfall is due to natural what -- weather patterns but the study in the study of the geophysical research letters say warmer temperatures are making california's right condition even worse. condition even worse. july was the hottest month since record-keeping began 135 years ago. whether officials say the average level temperature was nearly 62 degrees and they say climate change get some of the blame for that as well. the lack of rainfall in california is 20% worse due to global warming and it could be felt around the world. those are your top stories at this hour. the u.s. open begins in new york in 10 days and ultimate spectator can experience no expense spared if he wants or it she wants, so we asked, what is

their $100,000 way to watch the grand slam tournament? by the way, that is short of what this single winner gets. james joins me now, there is a lot of way to spend money at the u.s. open. what is the most expensive item you found? james: it is the luxury suite. those can be well over $100,000 per session. but then you have also got every other kind of amenity that you could consider getting there, eating there, -- have 90 luxury suites. you can get him for $15,000, is that the smaller or not a great view? james: not a great view. matt: how many people can you get into these? james: as many as you can, but at least 12. matt: i would choose the box seats, $50,000. this is for what? for the whole tournament?

james: paul tournament. matt: that's a pretty sweet deal actually. james: especially since $2000 is a top-end. matt: for one match. james: for the men's final. matt: you also looked at ways to get there. i once drove on my vespa scooter which was not terribly difficult, but if you are in a car, you have to deal with traffic. james: tons of traffic, especially the evening games. cut downel time can be considerably by taking a helicopter. they take around 15 minutes and -- $2100around $21,000 each way. this is assuming you do not own your own helicopter. i see. so you are traveling economy class on somebody else's chopper. a mercedes,ive apparently, free parking. any mercedes? them out of the condition?

james: no matter the condition, any mercedes and you can park for free. matt: very cool. i thought it was odd in your store that you can buy a polo shirt that apparently talks to your cell phone? james: it takes environmental greetings of your various -- matt: we have a picture. james: yes. matt: are they on the caller? james: you are supposed to be working out. matt: i see, but you're going to the u.s. open. what does it take measure of? your heart rate? james: or if you wear it to the pro and tournament, which you can buy into for $12,000, -- matt: i saw that as well, so you prayed to -- you played to be in the pro-am tournament and i saw older pros, i'm not sure who was it? is she still a pro?

james: yeah, she plays pro. i believe so. matt: you're probably right on the seniors tour, but i thought cash was there as well. my mom would like that. james: listen, i would like that but i don't have the $12,000. matt: to get it back if you win? james: i'm not sure. news is forod tennis fans out there, there are ways to spend very little money and still enjoy fantastic tennis at the u.s. one of my favorite tournaments and definitely one of the best sporting events in new york. james, thank you so much. i hope you enjoy the open. still ahead on "bloomberg market day," back-to-school shopping season underway and spending is expected to reach $58 billion this year. we will tell you how when we come back. ♪

matt: welcome back to "bloomberg market day." i am at matt miller. total back-to-school spending is expected to reach $58 billion according to net -- to the national retail confederation. an increase over the past decade. one company cashing in is, by, and e-commerce store -- dormingy fy, and e-commerce store. a segment up 30% in 2015. this season, the company has partnered with macy's and is part of their back-to-school campaign as well. bigger business, bigger growth and we brought in the founders who are with me to discuss -- congratulations on the macy's video, that has got to be great for the company, what do you expect for that to do for you, karen? get a lot ofe to new customers.

it is a different market segment. we are selling comforters at macy's and we are in 50 stores around the country and online, so we are excited about the partnership. matt: what are the basics, amanda -- you look like you are in college now -- amanda: actually, out of college. matt: i meant that as a compliment. what you need? hello's, tapestry, what else? amanda: the bed is the focal point and you want to be comfortable when you go back and move into college for the first time, so we do have a product category you need for a small space standing. dream catcher. amanda: we do have dream catchers. matt: i miss college just talking about it. what are the biggest sellers? karen: one of the things we do different than other retailers is that we curate collections, so you can get your whole bed designed basically two different personalities. it is all curated i us and it is

in the and match scenario, so you can pick and choose in addition to what we have chosen for you you. do you curate or do you bring in people from the outside fold or how does that work? amanda: on our site, we offer easy to shop looks that you can customize, as my mom was saying, and we show you how to make it easy on the website with these rooms and collections that we have put together but we want every customer to have a level of their own personality. matt: the numbers are surprising. we expect act school sales to be so much higher than the have been previously and it sounds like for college the growth is even stronger than the general back to school season. how is that possible in the is everere tuition increasing, everyone is worried about student debt, where does from? come karen: i think it is a combination. from a parent perspective, i think parents really want to

make their kids comfortable in college and they want them to have a room that suits the personality. when you look at the social media platforms, everyone sharing everything that they are doing, so -- amanda: greater expectations. matt: is that the key to dormify 's success? amanda: i think these consumers are really putting everything about their lives online, so it is not only that they are sharing with a group of friends or people living in their dorm, but their greater social network. matt: very cool. i will check out this site and see if i can dorm up my room at home and see if my wife agrees with that. karen and amanda zuckerman, thank you for joining us. coming up, currencies from cause extent to the egyptian town are in turmoil. ♪

11 a.m. in new york, 8:00 a.m. in san francisco, and 4:00 p.m. in -- collapse,encies

america, andgypt, currency traders show us what is next. matt: tesla showroom's getting a makeover. we get the state take elidel electric carmaker is adding to their stores, including a $300 tote bag. i am matt miller. corey: -- pimm: i am pimm fox. let's take a look at how stocks are paring and there is a continued selloff in the u.s. stock market. matt: as. below 17,004ou go, the dow jones, just nearing 2000 on the s&p 500. a drop of more than 27 points. i can redo the