after the january 6 insurrection at the cap building -- capitol building. national guard troops are on standby and fencing has been reinstalled around the building. organizers are protesting the federal prosecutions of hundreds charged in the insurrection. the capitol was breached by a group of trump supporters who wanted to prevent the certification of the 2021 presidential election. mr. biden spoke with nine other world leaders during a virtual meeting, saying there is still a lot of work to do and that the need for action has grown more urgent. president biden: while the climate crisis poses an exit 10 show threat, there is a silver lining. it also presents a real economic opportunities to create jobs and looked up to standard

of living for people around the world. george: the president says the forum was intended to be a sober assessment of global progress or lack thereof six weeks ahead of a pivotal you and summit in scotland. the u.k. government is easing coronavirus testing requirements for fully vaccinated people arriving in england. officials today said people who are vaccinated will be exempt from a predeparture test before flying from nations that are not high-risk, while screening after arrival will be downgraded to faster tests. prime minister johnson has faced months of pressure to water down border curbs blamed for a muted recovery in travel demand. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪

amanda: i'm amanda lang. welcome to bloomberg markets. >> i am matt miller. we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. canadian prime minister justin trudeau and his conservative rival are nearly tied heading into the final weekend of the country's election campaign. we will give you the latest. plus, you'll hear from thomas peterffy, chairman of interactive brokers. this week, the company announced it is introducing cryptocurrency trading. u.s. stocks fall amid triple witching and a rebalancing, with the s&p 500 hitting its lowest level in four weeks. we will dig into the factors behind the volatility. amanda? amanda: of course, september can be a weak month in any event,

but one of those factors may be that read on consumer sentiment. a preliminary number from the michigan sentiment index, but it is the pricing component of that that is the buying conditions that have deteriorated to 1980 levels, driven by high prices. we may have central banks saying this is transitory, but for consumers, if it shows up in buying plans and sentiments, that has immediate consequences for stocks. we are watching s&p 500 weakness across the board. some strength in health care but over all is very weak. materials leading the way down. we also see tech right behind it. financials are down. it is one of those days where you see across the board swooning. the 10-year also at 1.36. in canada, a lot going on, a federal election going on next week. and for what it's worth, the latest polls here show some

interesting numbers, in terms of how do the two parties are running. this is what would you prefer as prime minister? justin trudeau, the sitting prime minister, does have an advantage over his biggest rival, aaron o'toole, the head of the conservative party. given the way the boats are calculated, it is anyone's guess which of these men will be prime minister, and likely a minority government. just as we had with justin trudeau, some other party holding the balance of power. matt: we had also the obama tweet. i think we have that. the former president causing a bit of a stir in canada. he wrote, wishing my friend justin trudeau the best in canada's upcoming election. justin has been an effective leader and strong voice for democratic values and i am proud of the work that we did together.

they did work closely together. i can understand why president obama would send a tweet, on one hand. on the other hand, i get why people are angry. it looks like a world leader from the bigger country down south is trying to interfere -- i guess that is a pejorative term -- but for lack of a better one, and the country's election. come on, i don't know. doesn't really matter that much? amanda: [laughter] you are right. we did hear from hillary clinton today, tweeting similarly. the inference is always that the liberal party of canada and the democratic party of the united states are aligned. the truth of the matter is, the conservative party up here is almost as close to center, probably both under the democratic umbrella if you look .5 point at what they do.

in other words, everything in america is to the right of our centrist parties. it is kind of an interesting support base. it was not received well here. matt: i get it, that it is not done, but so many things that are not done have been done lately. that is how it works. kids are doing things these days that are not done. the president is doing things that were not done. we had four years of president trump doing things that were not done. i don't know, maybe it doesn't even help. maybe because of that it doesn't even help trudeau, we will see. amanda: that's right, there may be a backlash. at the end of the day, this is most likely to be fought and won on the economic confidence people have and who they are voting for. the big question is where the economy in canada goes from here and who can shepherd it through this pandemic. william white is a senior fellow

at the bank of canada. thank you for being with us. william: it's a pleasure. amanda: we know that people's own prosperity, financial picture tends to be the central picture in people's lives. it has not been the central issue of this political campaign. do you think there is a clear differentiation on where the economy goes after this election is over? william: differentiation between whom, the various parties? up until now, if you look at the recovery, what has happened in canada has been a mere image of what is happening in most of the oecd countries, on average. the sense, looking forward, is that our prospects are much the same, which is to say there seems clear evidence that the economies are moderating. at the same time, china has been

slowing down, too. there is i think a growing sense that perhaps the good days of faster growth on a much faster growth, are behind us. i think there is a growing apprehension. matt: what effect has the pandemic had on the voter base, on the expected outcome? william: to be honest, i really don't know. what i can say, it appears as if the government chose to call the election on the grounds that they had done a good job relative to others with respect to pandemic control, were hoping that that would see them through. whether that will work or not is anyone's guess. amanda: one of the big issues around the world, certainly in canada and in the united states, is affordability around inflationary pressures from

everything we are seeing around food, housing, travel related issues. do you think it should be a political story? is it something that policymakers in ottawa should be able to do something about, or isn't left squarely with the central banks? william: it is, at the moment, in the hands of the central banks. that is probably where it should stay in large part. the central banks, however, in a certain sense, have maneuvered themselves into a situation where there is no easy answer to their problems. they have, as you know, over the course of the last 20 years or so, have been using monetary easing as the primary instrument whenever the economy threatens to slow down. they have done the same thing during the pandemic. the problem with that is it encourages people to take out

debt. as those debt levels grow, they act as a headwind, moderating spending going forward. eventually, you get to a point -- and this is the point where the central banks are in now. they are caught in a debt trap. they cannot ease much more than they have already eased, they are at the lower bound. they cannot keep the degree of stimulus constant because it encourages more debt accumulation. and they cannot raise rates, because if they tighten up, you have all of these exposed companies and households. the reaction in the economy may be much greater than anticipated. we are actually in a bit of a bad place in the central banking community. matt: william white, thank you so much for joining us. former deputy. great to get your insight.

stay with bloomberg and bnn on monday -- i mean, don't stay through the whole weekend, but come back when we have special coverage of the canadian election at 1:00 new york time. we will be all over this story and also give you all of the aftermath. interactive brokers. 1.5 million customer accounts will not be able to trade crypto. we discussed the move with the chairman of interactive brokers, thomas peterffy. this is bloomberg. ♪

matt: this is bloomberg markets. i'm matt miller. two stories of note on crypto.

texas took action against celsius network, accusing the company of offering residents on district securities, and the dow jones reports the u.s. treasury department plans to impose sanctions next week that would make it tougher for hackers to use cryptocurrency to profit from ransomware attack's. they will have to go back to u.s. dollars. we are seeing this more and more, regulation, more of a crackdown. on the other hand -- and this is one of the questions i will ask thomas peterffy in a moment -- we are hearing more from investors, from retail to institutional, wanting to get involved in crypto. you have to somehow make these two things work out. amanda: this is not unlike -- you could think of the uber platform and the way it grew up, eventually got regulated.

crypto's are a different animal, but similarly, those interested in them and their future should be happy about regulation. new regulations will add clarity and allow real and big investors to get involved. to me, it may slow down parts of the market, tick the wind out of the sales of some of these crypto's, but it's a good news story. matt: let's talk about interactive brokers. we are with the leader of interactive brokers, the company will allow users to buy and sell bitcoin, ethereum, bitcoin cache, through a partnership with taxos trust. chairman thomas peterffy is with us. thank you for the time. what drove you to this decision? do you have investors saying we have to be able to trade this asset? thomas: absolutely.

on the one hand, we have many customers who manage well-balanced portfolios and they are asking with greater and greater urgency, could we please add the ability, for example, to gain some crypto exposure? simultaneously, many of our investment advisors keep telling us that they have customers who are asking them to put some crypto in their portfolio. in addition, we have frequent traders who have been asking us to enable them to be able to create these price relationships among the different tokens. crypto futures and other quick to-related assets. -- crypto-related assets.

it appears it is common list for everybody, everybody should have a little percentage of their assets in crypto. if you want to stay in business, you don't have a choice. you have to offer that. otherwise, customers will leave and go to other brokers who offer that capability. that is where we are. amanda: we know that you been looking at this for a while. one thing that we know is that more regulation is coming. everything from the sec to the federal reserve, lawmakers are looking at ways to regulate parts of this industry. how much will change about the way that you can trade on your platform based on what happens next? thomas: i do not think much will change that is visible to the customer. when the customer comes to our platform today, even though we

are offering these cryptos, to them, there is no difference as a stock or future or option registered in bitcoin or live coin, whatever. matt: i wonder if customers are going to be able to cross margin there crypto positions? will i be able to buy bitcoin spot and sell bitcoin futures at the same time? thomas: not as of now. we are very worried about the securities angle, so no. matt: why is that so difficult for platforms to provide?

the difficulty of doing that arbitrage means there is a big gap between the spot and futures price? thomas: i understand, but for the time being, at least on our platform, we don't want to come close to the question of whether it is a security or not. amanda: we have to leave it there, thomas. thank you for being with us. lots of important development in this space. thomas peterffy is the chairman of interactive brokers. we are watching some options expiration today. markets are weak, maybe a four-week low or the s&p 500, if we stay here. stay with us. us.

amanda: this is bloomberg markets. i'm amanda lang. alongside matt miller. it is time for stock of the hour. a series of options expiration's. we are seeing weakness and close to a four-week low, but just about 1% this week, as we head into these options expiration's. stocks editor dave wilson is here. september is typically a week month. what is going on? dave: historically, the s&p 500 has done the worst in september out of all the months in the year. what we have going on today is what we call triple witching. it used to be quadruple witching. he will get into the difference. we are talking about the expiration of stocks index

futures, index options, and options on individual shares. it used to be single stock futures, but they no longer trade. on days like today, you get a burst of trading at the open, another burst at the close. the numbers that are there on the chart are from june, the last time you had one of these quarterly expiration. 5.8 billion shares in the last hour of trading were reported after the close. beyond that, you tend to get some volatility at times when you have these expirations come up. this week, you have not seen it so much. with the declines today, things are broadening out a little bit. certainly in past quarters, we have seen the s&p bounce around as people prepare for the expiration of these contracts, and indeed, the expiration happens. at this point, the bigger

question is what kind of support does the s&p 500 have? if you look at the 50-day moving average, we have consistently seen over the past several months the s&p 500 getting down to and maybe a little bit below that average and then come back again. right now, we are back there at the 50-day moving average, so the bigger question is, will that support hold up this time or do we finally see shares start falling? matt: first of all, i am glad that you pointed out single stock futures don't trade anymore. i have seen everywhere that it is quadruple witching. i feel like they just wanted to be more witching. i don't know why they don't go ahead and say it is quintuple witching or add more. obviously, it is only triple. at any case, when i look at this chart, we see the continued

strength, even if we are at a four-week low on the s&p 500. how are investors reacting to the nonstop buy the dip? dave: not well. if you look at the latest survey of individual investors, you see the percentage of -- let's say it took a hit. a decline of 16 percentage points in the past week. you have not seen that shift in sentiment in some time. matt: thanks very much, dave wilson. for amanda lang, i'm matt miller. have a great election in canada. we will see you back here on monday. this is bloomberg. ♪

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mark: i am mark crumpton with bloomberg's first word news. president biden is turning his focus to climate. he convened a meeting with world

leaders saying now is the time to cut greenhouse gas emissions. the meeting of the major economies form comes six weeks before a you and summit on climate change in scotland. the united states could be getting one step closer to covid booster shots for those 16 and older. the food and drug administration's meeting today to evaluate safety and effectiveness status. president biden has said he would like to see additional booster shots approved by september 20. right now, they are approved just for people who are immunocompromised. house speaker nancy pelosi is in the u.k. for a g7 heads of parliament conference. she spoke out a form where she warned there will be no u.s.-u.k. trade deal unless the british government solves post-brexit disagreements with the european union that risk destabilizing northern ireland.