you know what they say about baik? sorry. murph won the debate. final trade, josh? final trade? >> softbank. buy. >> pete? >> merck. >> murph. >> ingersoll. >> mcr. >> "power" starts right now. scott and team, thank you very much. the market's taking a beating you see there. the dow jones industrial down about 1%, even nasdaq more than 1% and the s&p about 9/10 of 1% lower. a wave of fear. is it coming from china? new numbers and fresh reporting about the economic situation over there. steve liesman and michelle caruso-cabrera analyzing everything from shipping data to copper for insight on what's really happening behind the great wall, and the transmission mechanism into the global economy. first, though, checking in with sue at the nyse. >> it's a down day. triple digit decline in the dow jones industrial average down about 162 points.

take a look, though, at the transports, off better than 1% on the trading day, and for those who follow the dow theory and other theories, the transports are very important, because they tend to confirm whatever move the dow is making, and right now the transports are decidedly negative and the dow is now down 164 points. so a very negative day on the trading floor down here at the nyse, bob, and china is part of that certainly. >> yes. we've been drifting lower, really, almost since the pope look at the s&p 500. sue referenced, china, poor retail sales data, poor industrial data confirms concerns about the slowdown there. later in the afternoon, later in the morning, sue, we saw headlines, including some from reuters. the ukraine acting president seeing risk of war with russia. >> right. >> russia ready to invade. that's a quote there. sees international efforts to end aggression. but those kinds of headlines came out about two houratio as

affecting the markets. sectors, two to one. started positive. what we used to call risk on trades, definitely the down side. all of these were up at the open, by the way. the country ets, germany down, turkey down. brazil, near a five-year low. ewz. finally, sue, i want to note while china's data was weak, the chinese stock market, shanghai, up today. there was a lot of speculation that the chinese would begin a new stimulus program. of course, this has been the problem. there's too much debt, they're trying to rein that in. add to the debt, moving that market a little. >> up better than 1%. we said yesterday, down 42%. >> right. >> over the past several years. maybe it's in the process of bottoming. we'll find out. all right. the nasdaq on a percentage basis is down even more than the dow jones industrial average.

uptowne at the nasdaq followings action. >> the nasdaq now down about 1.5% close session lows. 90% of the nasdaq 100 is in the red right in our. really a broad based sell-off. a pickup what bob was saying about the headlines telling me, technical weakness popping up over the last couple of weeks and having that coincide with all of this headline risk which has been making people nervous the past couple of weeks. today you see both of those align and perhaps one of the reasons we're seeing more of a sell-off today. talk about which stocks you're moving. all the large cap tech names, google, apple and microsoft waking it down. classic risk on momentum stocks down nearly 2%. a sign investors in risk off mode. finally want to talk about one stock that is in the green today. amazon. the company, of course, announcing it's going to be increasing the price of its prime service, actually helping support the nasdaq a little today. back to you. >> sheila, thank you very much. looking at the dow, just

touched down 195 points. just moving off of that. so are they moving in to the bond market? today we have the 30-year bond auction. we've had decent demand at the earlier and shorter legs. what about the long end, ricky? how does it look? >> you know, this one was a weird auction. first of all i gave it a c-minus, but with a big asterisk. tell you why. what's going on in china, in crimea affected the in a huge way and affected in my opinion, how you assess for the one issued market, the way it was trading. having said that, the yield was 3.63. the one issue market was like a gatling gun between 361, 362, 360.5, but it looked to me like it was trading around 361.5. higher yield, lower price. a demerit or two. the bid to cover spot-on with 10 action value, 2.35. weak on indirects at 38.8 under

the 41.10 auction average. the directs also on the light side, not by much. 12.6 versus 16. dealers took about 48.6% of the auction. so a c-minus with an asterisk, hard to handicap the auction because of all the moving pieces. back to you, tyler. >> and a yesterday. c-minus today. rick santelli, calling them like he sees them. dominic chu? >> sinking, check out this chart, it's bad. this company really is falling after it received a sieve maciv investigative demand, cid from the bureau. the purpose, determine whether finance companies or unnamed persons have been or are engaging in unlawful acts or practices. investor are not accepting world acceptance now. the stock is down big. you can see down about 19%, 20% on the session overall. tile ir, back to you. >> something i said? the dow is now down 200 points.

the nasdaq down 1.5% on the session so far. there you see the dow sliding here at mid-session. one of the fears on wall street recently has been china. we talked about it yesterday. and today steve liesman and michelle caruso-cabrera, doing more digging. more evidence of a wave of trouble sort of moving across the pacific and around the globe. michelle, first, you're going to tell me about why all of this concern about copper? >> right. we've been telling you all week. copper is selling off hard this week, because we've discovered in china, copper is often used to finance financial deals and transactions. now we've learned that the chinese government isn't necessarily going to bail out every single financial transaction and deal, so there's less incentive to do that. >> to use copper. >> and then to use copper. two fresh fears. the premier said the failure we saw of the corporate bond, get used to it. there will be more.

re-emphasized, and malt. pledges of collateral? what does that mean? brought a prop. i want to borrow money, you're a chinese bank. i'm a chinese borrower. to get the loan, tyler, i have to pledge this copper collateral to you. >> you need the money? there you go. >> thank you. steve liesman, also a chinese lender. right? the same pile of copper at collateral for my loan. >> around i'll give you another loan, with pleasure. >> multiple pledges of the same collateral. >> took with the fees. i don't really care. >> look the other way. maybe. yeah, exactly. >> what's happening, since the loans are coming off, selling some of this copper or not demanding as much copper and you have a cascading effect through the shipping business, tyler had is shipping rates are down. some of the commodity prices are way off. if you scale that up, the question is what's the impact of a weaker chinese company on the u.s.? part of it, though, is lower

prices. first i want to show you one thing that michelle was talking about. a chart on chinese lending. if it looks like through the roof to you it is through the roof. that's 130% of gdp. you see what's happened over the past couple years. skyrocketing. what michelle was talking about, either unwinding or coming off a moderating. depending how that happens and the chinese economy slowdowns, now look at this. an interesting chart. chinese export prices and u.s. consumer prices. it's pretty much joined at the hip. you see when it goes up in china, it goes up in the united states, and back and forth. so one way we will have some knock-on effect in u.s. growth, one thing that offsets that is lower prices from china. your chinese toys also some of these commodities that michelle was talking about could come off in price especially the guys at jpmorgan looking for lower oil prices if chinese demand reduced. >> interesting to me among other things the idea the chinese government saying basically we'll let some of the bad companies go.

not going to stand in and -- >> right. >> that has chilled the demand for the very loans that you were just describing. the entrepreneurs don't want to take out those loans. >> if you think you'll always get paid back, you will give money to anybody. if you don't know you'll be paid back, you get a lot more controlling, right and don't bother borrowing copper. >> are we seeing the moral hazard premium come oufb money to china? making higher interest rates, because if suddenly i would loan you money at a lower rate because i thought the chinese government would bail me out, now i have to charge a higher rate and demand more collateral. >> exactly. >> the way the world is interlointe interlocketed. sue, down to you. the dow jones industrial average, a second ago, off 209 points. shares of gm, down on the day by 2.25%. down 8% this week. several investigations kick into higher gear over problemance with gm's ignition systems that led to the deaths of 12 people. today we are learning the problem dated back further than

previously reported. phil lebeau still behind the wheel for us in chicago. more trouble for gm, phil. >> yes, sue. as the revelations have come out and over the last 24 hour, more questions in washington about how much information general motors disclosed and did the federal government specifically, the national highway traffic safety administration, could it have done a better job looking into these problems that general motors? the transportation secretary was at a senate budget hearing today, and he was asked that very specific question. >> over the last three -- last decade, there were complaints related to this particular vehicle, and despite three crash investigations and other research, the data was inconclusive. it just didn't point to a formal investigation. >> and that's why a lot of people are asking mr. foxx and nhtsa questions right now. the recalling question -- 1.6 million vehicles made between 2003 and 2007, 12 deaths, 31 accidents. now, general motors has said

that it first noticed the problem in 2001. that is a change over the last 24 hours compared to what the company previously said. it used to say, hey, it was 2004 when we first noticed the problems. now it's 2001. it is telling customers to drive with only the key and the key fob on the chain. nothing else, when you have that car in and the ignition turn and. offering $500 incentives to the owners of recalled vehicles if they want to come in, buy a different vehicle. lease a different vehicle. also offering them loaner vehicles until the repair is made on these recalled vehicles. that's going to be happening next month. i want to call up what shares of general motors have done over the last month compared to ford and toyota. a lot of people saying, gm is getting killed in the last week. betcha the other automakers are doing better? actually not, sue. all trending over lower over the last month and general motors goes, so go a number of the auto stocks. sue? >> evident in that chart. ford especially.

thank you, phil, very much. currently there be some six buy ratings on gm. 11 holds. 10 sells. at what point did wall street start to really worry about those recall issues? efrem levy, standard & poor's capital iq, a strong buy on gm and joins us. why do you have a strong buy given the headline risk and all of those hearings still to come on this particular issue for gm? >> there definitely is headline risk, and that, as you indicated beforehand has already affected the stock. however, we look past the current news flow and we see various fundamentals for general motors as we get beyond 2014 and look to 2015 nap primarily growth in the u.s., growth internationally, especially in china, that you were talking about on the show, and we think that the new launches that are coming, once they get costs behind them and restructure in europe you'll see a pop in profit. >> how much danger that this particular situation drags out?

i mean, congress certainly does not move quickly, and we have several committee hearings, and the department of justice is looking into this as well. if it drags on for a foreseeable period of time, how much of a risk sthis that for the stock? >> you don't want to see it drag on. you want it out of the headlines as soon as possible, and that consumers won't be thinking about the news of general motors negatively. they're thinking about them generally positively for the new products they've come out with. the quality rankings. the performance. but when you see headlines of this you get nervous. why should i buy a car from a company that i could risk my life in? but it's part of the business to have recalls. the question is how you handle it. >> you have a price target, quickly, of 48. so if we do get more weakness in the stock, down 8% this week, i'm assuming that you would add to a position there? >> well we have a strong buy, and that's our highest, our five-star opinion. can't go higher than that. >> thank you. nice to have you with us.

>> thank you. to dominic chu, back at headquarters for a market flash. >> thanks, sue. speaking of s&p capital i.q. and ratings, shares of goldman sachs driven towards session lows along wit rest of the market. not helping, a downgrade of shares by analysts at s&p capital iq from a stole a buy. tracking lower than they were the same time last year. a particular focus is fixed income which they think is showing lower trading as well. s&p capital i.q. reducing also the price target for goldman shares to 158 bucks from 195 previously. back to you, tyler. >> thank you. phil lebeau covers airlines for us as well as the auto business. and he is tracking new information on the disappearance of that malaysian airlines flight 370. hi, phil. >> hi, tyler. report from the "wall street journal" suggested that perhaps this plane flew for another four hours after losing contact with radar control in malaysia. well, now malaysia is out

following this report and came out today and said, you know what? that's not the case. we did not have any further contact with this airplane after the last reported contact shortly after 1:20 in the morning, local time in malaysia on friday. meanwhile, the u.s. navy is sending a ship to the indian ocean and on to the strait of malacca to assist in the certainly for clues about the aircraft. mm 370. here's the search area. a huge area when you look where it was last seen to the possibilities of where it may have flown over a four-hour stretch, if, in fact, it did continue to fly. and today in washington, you just heard us talking with the transportation secretary, anthony foxx, about general motors. we also asked him about whether or not there needs to be an improvement in terms of communications with planes, making it basically nonstop always that we're in touch with planes? >> there's so much that we don't know right now. it would be inappropriate to speculate about the role of anything in changing the outcome

with that flight. we're continuing to monitor things, and as investigations continue we'll know more. >> basically what he's saying is, they're not going to say anything right now, but the big push, tyler is going to be next generation radar. a lot of people saying it should be already in place. the technology is there. just a matter of making the investment, not only here in the u.s. but around the world so that we can have 100% contact with all planes all the time. >> all right. phil, thank you very much. >> ty, as this mystery deepens i'm sure that will be part of the conversation for the foreseeable future. switching gears and talk foreclosure activity. where are the perspective buyers? diana olick has answers coming up next. right? >> right. new information out today about the aspirations of potential home buyers. will a flood of first-time buyers finally move in. sue? >> we will find out, diana. and much more on a very bad day for the bulls. the dow jones industrial average

off of its lows. still down 184 points. the s&p down 57. that's the nasdaq, rather. down 57. s&p down 17. transports down almost 100, and the yield on the ten-year moving sharply lower, 2.66%. we're back in two. here at fidelity, we give you the most free research reports, customizable charts, powerful screening tools, and guaranteed one-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and e-trade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. call or click to open your fidelity account today.

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welcome back to "power lunch." mcdonald's, at session lows. workers filed class action lawsuits isn't california, michigan and new york claiming the company is sim systematic stealing employee wages forcing them to work off the clock shaving hours off time cards not paying overtime. mcdonald's is currently reviewing allegations and conduct an an investigation also with independent franchisees. stock is down. back to you. >> mcdonald's has down sides. the dow jones industrial off 177 points, but we were down 209 points. joining me now at postnine as we look at the boards with the s&p down 17 and the nasdaq trading down 1.25% on the trading session is kenny, director with o'neil securities. talking during the commercial break that the sell-off feels orderly but intense? >> right. i'm not sure anyone should be so surprised with this move. we've been talking about it for a while. actually been surprised that the market had held up to the highs

as long as it had. so this pullback is kind of feeling, ah, a little bit nervous, not panicky yet. >> right. >> if you break the 50 day and it builds momentum then more of a flush, but i'm not sure it's going to get there. >> what levels are you going to watch? you mentioned the 50-day moving average? >> 18.50 here a short-term level but if the it breaks 18.50, look at the 50 day. >> seeing the ten-year yield move down to 6.66%. a flight to safety. talk to art cashin. he feels most of what we're seeing is geopolitical. >> i think it absolutely is. certainly over the ukrainian thing. kerry's going tomorrow to talk to his counterpart in london. a vote sunday. i think everyone already expects than they know what the answer will be, but then all of this chatter back and forth between the u.s. and eu about the consequences for russia if, in fact, this happens. so it's creating nervousness. rightly so. >> and almost the end of the

week. if you'll have a dicey weekend, people want to get out of the market. >> get out, and raise cash. absolutely. >> kenny, thanks so much. appreciate it. ty, back to you. >> sue, kenny, thank you. housing on the mend and more and more renters are hoping to buy. the question is, can they? diana olick joins us from washington. hi, hi, di. >> hi, ty. renters in particular, are getting more confidence in the housing market. 10% of representers in the nation's top 20 markets said they would like to buy a home in the next year nap o'cording to a zillow survey. if they all did, that would represent 4 million first-time home buyers. these first-time buyers are largely left out of the housing recovery facing tight credit, l low inventor to and fierce competition from investors. aspirations highest in the formally hardest hit markets lie miami, atlanta, las vegas. renters were probably once home owners who once went through the

foreclosure process. activity in february follow to its local level, down 27% from a year ago according to realty track. the trouble, there is over 150,000 zombie foreclosers. what's that? a vacant home still sitting in the foreclosure process, according to realty track, for on average over 1,000 days. states like michigan, new jersey and nevada are seeing big jumps in zombies, but nflorida, of course, still leads. those home could provide inventory for first-time buyers, if they could just get through the process. check more on the website. ty. >> market flash? tyler, magic chef bucking stocks beating analyst expect aces to for earnings and revenues in the forth quarter for the full year 2014. the empty expects revenues 158 and $163 million, well above analysts estimates, $147 million

for the year. magicjack trading up. amazon raising the price of its popular prime membership. which clubs offer the best bang for the buck? three of the best and three to avoid. coming up next. and more on this sea of red we are seeing in markets. we're now down 181 on the dow. how do you protect your money if stocks keep falling? more "power lunch" in two. ♪ for tapping into a wealth of experience. ♪ for access to one of the top wealth management firms in the country. ♪ for a team of financial professionals who provide customized solutions. for all of your wealth management and retirement goals,

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welcome back to "power lunch." would you believe free service on an airline. united continental letting users watch movies free on laptop and apple mobile devices, in not having to pay any fees whatsoever. uses of android and other local operating systems will not be able to watch. they're not fully supported. yiptd continental and apple still in the red. >> a difficult day, though. thanks, dom. to the bond marx, tket. dropping 174 points on the dow. rick santelli is with us. >> a very, very counterintuitive day. interest rates. somewhat predictable. you can see 30 year, just auctioned off. not a great auction. it's because the auction railed and kept playing around with where this thing would price. it's indeed lower. look at a ten-year, the lowest

yield closing in the area since the 3rd of march. call it close to two weeks, a week and a half. what's really fascinating, look a a longer term chart. a lot of times no matter what the cause is, the markets move, they change the technicals. this really is a big deal to have broken down below that 270 to 275 area. normally you think dollar index, euro. where the safety with regard to the currency market? today, not sure if it coordinates with from japan not buying into the u.s. sanctions on russia, non-commit's. look at the dollar yen. predictable. the dow moves hoer, y e s highe higher. the currency is moving the most. tyler, back to you. >> rick, actual ly i'm take.

moving into gold. not flight safety any the gold market as you might expect given what we've sneen stoeen in stoc. up $1.70. a big move to the upside yesterday. silver and copper both to the down side. copper is the lead are percentage loser down 1.5% for the march contract. you're up to date on the metals markets. and amazon prime raising membership from $79 to $99 per year sending current members an e-mail notifying them of the change and reminding them of services from free shipping to thousands of movies and tv shows. in today's yahoo!'s finance poll of the day, we asked, is amazon prime still worth it to you? 69% said, no, never worth it. 12% say, yes. absolutely. love it. 18% say only if it rolls out better tv and movie offerings. cnbc.com consumer reporter kelly grant joins us here at post nine and you wrote a terrific article for the webisode on the best

value in terms of royalty meshships from vacation clubs down the sam's clubs and cost costcos? >> a lot of out there. it's worth it for consumers to go back and say, is this membership still worth it? is it piei ipaying off. >> what of the best membership clun clubs? >> amazon is one. you tend to love it if you're in it. pays off quickly, especially ordering an item that is heavy. the shipping pays for itself in one or two orders. another one, amusement parks, actually. talking about the annual park passes. particularly for a regional park like six flags. they pay for themselves in the second visit, really, you're getting a break. >> go down with, proceed with caution. those that didn't really make the grade for you. warehouse clubs? >> a big one. with that, depends what you're buying and how you shop.

if you're a person who doesn't pay attention to the sales, there are studies out there that point to you could easily save 40% at some warehouse member-of-items. a person, do extreme couponing, mont othering sale, probably a better deal without that membership. >> credit cards? you get benefits. >> you do. >> the airline clubs, things like that. >> you get a lot. the problem is you need to be a big spender and not be carrying credit card dote make that work out for you. just that $95 annual fee is almost $10,000 in credit card charges just to break even in the value of that report. >> my favorite. road-side assistance. >> ah, yes. another one it actually pays for itself in just one incident. but the catch is, you might not actually need it. driving a newer car, might have coverage under your auto manufacturer. might have the it actually through a credit card or might even have it through your auto insurer. check that before you go and pay for it. >> yeah. although if you don't have it through your auto company, that

one flat tire on the new jersey turnpike in winter, it's paid for itself. right? >> kicking yourself if you don't have it. >> absolutely. kelly thanks. good to see you. ty, up to you. >> sue, thank you. sco stocks bouncing off low, down significantly at this hour. dow jones industrial off 168 points down 200 a few moments ago. s&p down 15. nasdaq off 49. or 1.17%. transports and theth out there, you see the numbers for them. transports off about 1%. let's go to jeff and in chicago, what's the word on the trading floor? how worried should we be about some of the underpinnings of this market? jeff, you first. >> well, ty, actually seeing a bipolar market. look at this. all-time highs in the s&p. now a change. once that toothpaste goes out of the tube, hard to get back in. we saw volatility rammed. a 15% move. i think now a lot of uncertainty, but jimmy's going to waub watch the technicals.

>> go ahead. >> i was going to say, if you had asked this question an hour ago, we were in the teeth of panic. felt weird down here. kind of dissipated and the market is growing accustomed to whatever the rumbling are out of the ukraine. however, if we close poorly today, two out of three days outside days with a bad close. technically that's fairly ominous. right now i'm still in the camp that we'll see what happens towards the close, but it something you should be on the lookout for. >> jeff, your view longer term is that we may have seen the top of the year. right? >> yeah. i've talked about the volatility coming out in 2014. i see a sideways to lower trade. a lot of back and fill on a chart, if you will. laser focused now on the russia/ukraine situation, that sentiment change indicative about an hour ago. see how it plays out in the close. i'm concerned about it. >> not ready to give up the whole year in march based on this today. i think we could be at the beginning of a correction.

no problem with that. ougultimately a lot of money one sidelines. a ten-year yield, going to 3%. stocks represent a decent value. these things will pass. >> snow here in chicago still. i think rough sliding due to the fact of the gdp continually gets forecast in revised lower, excuse me. i think now anemic voed here. the beginning of the year yes, a slide the next couple of months. >> what worries you more, jim? is it ukraine? is it china? what? >> china worries me more. ukraine is more of a pointed story right now. i think ultimately the market's going to grow accustom to russia getting the ports it wanted and everyone else let it be. by the way, if ukraine is the thing that pulls the trigger and sends us considerably lower in the s&p, s&p was near the all-time highs. a catalyst sometimes in the rearview mirror looks bigger than it was. the china story is a big deal. you can look at a copper chart and determine that. >> yeah. jimmy is spot-on. look at china. seeing big copper -- a lot of

people in the copper trade, indicative of unwinding. >> the guy from notre dame gets the last word. thanks, guys. appreciate it. how would you like to have a year-long million dollar vacation around the world? robert frank, sign me up. >> me, too, tyler. luxury travel company looking to hire someone to eat at the finest restaurants, sleep in the most exclusive island villas and enjoy the best resorts in the world all paid for. we'll tell you the catch. a lot of losers. the biggest, financials. you can see them all moving decidedly lower there. anywhere from about a half percent to almost 2%. back in two minutes.

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losses in today's session. sue, back to you. >> thanks, dom. and bob pisani for more on the market, into this conversation. bob, i found it interesting jim iuorio basically said it felt panicky in chicago xxxvii a short while ago. it doesn't here. a little intense. down 200 points, but a disconnect between the bond and stock market. i'm wondering which will be more accurate? >> a notable move in the bond market. yields moved to the down side. >> 2.66, from 280. >> quite a notable move. notable in stocks though the vix not as much as you might expect. geopolitical issues put up the s&p poor economic news in in china. concerns about ukraine. reuters is running a story now. the ukraine saying that russia has fired on one of its planes over crimea. that's in the mix.

earlier reports the acting president said he saw a risk of war with russia here. rick made a very good point about the end carry trade. it bears repeating. it's impacting our markets. put up the yen. this choort is moving down, the yen is strengthen here. what happens when china weakens is investors repatriot foreign investment. the japanese and u.s. money comes home. those borrowing the yen have to cover. that's what's going on here. you buy yen and sell stocks. look at the dxj. japanese stock market. hedge out the currency here. intraday chart. the japanese stock market down almost 3%. the wisdom tree, etf for japan, down in the overall market. emerging markets, particularly russia knee a five-year low. jemny germany low for a month. turkey issues and brazil, sitting right near a five-year low. guys, back to you. >> bob, it's interesting.

the transports now down almost 100 points on the trading session. fascinating to me about the market today, you have some of the other indices, broader based market indices confirming down side bias in the dow jones industrial average and as we go into the afternoon session, it looks we may come under considerably more pressure here. that's the way it feels, anyway. >> anything about the dow, you mentioned this earlier. the dow didn't really hit a new high, and in this recent period, when all the other sectors hit a new high. a sort of non-confirmation of the dow. that worried a few people. i think the important point here, in the middle of the day is, volume here at 300 million shares on the floor of the knock stock exchange is about normal now. so the old standards, do you look for an increase in volume? i'm not particularly seeing it. what you want to look at would be the etf for the russell 2000, and as well as the spyder, the two vehicles by which people get and out of the market quickly. right now the numbers are not particularly strong in both of

those. >> thanks, bob. those china fears rippling down here on the new york stock exchange doing the same thing uptown. sheila is following the big movers at the nasdaq with the nasdaq down 1 1/3%. >> sue, definitely feeling that risk off mentality here at the nasdaq as well. off session lows. nonetheless, still down 1.5% for the day. down for the fifth session in the past six. definitely feeling a little bit of that sell-off. you talked about some of the headlines putting fear into investors. traders i'm talking to say whether the china slowdown, what's happening in ukraine, whether you just thought the market was toppy, today feels like the day where everything is coming together. also you've had weak technicals play out. today is the day it's coming to a head. keep this in mind. only four stocks in the nasdaq 100 are in the green now. you can get a sense what a broad based sell-off this is. the loserses, names like alumina, micron technologies.

the high-flying classic momentum names that took the nasdaq hire, getting hid hardest today. a classic risk off trade move here. if you look at what's weighing down the index on the whole, you have all of the big cap tech name, apple, facebook and google. folks not feeling that risk today. we're feeling it here at the nasdaq, of course, known for the tech heavy index. back to you. >> sheila, thank you very much. imagine getting paid to take a year-long vacation and stay at the world's elite hotels. robert frank has the inside story on how i" i" will be able to do that. >> it will be for you, tyler. two luxury travel companies offer gt job of a lifetime. you and a significant other, if want, five star hotels clubs and resorts all paid for. luxury travel, intelligence and first two seeking candidates to take this trip valued at more than $1 million. all you have to do, write detailed reports for luxury travel intelligence on the quality of each location.

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welcome back to "power lunch." the s&p 500 currently off session lows. you can see down, oh, about 16 points. now leading the index lower, dimond offshore, 52 week lows. pvh corp., and network saless for on the tech side of things, overall, tyler, sue, when you talk about this kind of move, sue hit the nail on the head. we've been speaking to trader saying there isn't a sense of panic in the marketplace. if there was all stocks would be down. we should note one notable green sectors. no shock it's utility stocks one of the more defensive sectors. the ones that aren't at economically sensitive. it doesn't feel like a complete risk off day. there are some bids in the marketplace specifically for those secretariers that have at least a little more defensive

exposure. telecon, consumer staples among the top three performers, if you will, then technology, industrials, retail, consumer discretionary name, the worst performers. yes, a little risk on risk off, not every stock is down, guys. >> a fair number are. sheila just mentioned. nine out of ten on the nasdaq 100 are lower. look at the wall, the s&p emap, 85% of the s&p 500 is lower as well. a lot of red there, and a lot of money moving out of blue chip, it seems. >> you know, interesting is that we keep testing that 1850 point in the s&p. which is one of the most important technical points for the cash index. at 185122. if we penetrate that, it may usher in more selling. the headline risk is out there as well. a headline coming out of europe, ukraine, russia, the white

house, we do see renewed pressure in this market. but it is holding. that 1850 mark nap i think is going to be very important. >> it is true, guys. it's holding there and what's more importantly, too, as you look at the broader market beyond just the intraday moves of past hour or so, we are still not that far away from all-time highs in the dow jones industrial average or the s&p 500. so this kind of a pullback, yes, it's 1%. some traders would argue this is a healthy sign, in a bull market, that you can see some kind of selling pressure pull things back a little bit. of course, the geopolitical risks are very much in tune with every trader out there, if there is a new development in crimea, in rukraine a new development i china or other emerging markets, all belts of off. >> exactly right. we're not very far at all off of an all-time high from the s&p 500 and multiyear highs on nasdaq, but as sue mentioned earlier, transports have been really hard-hit as well.

there you see them down about 85 points on an index that stands at 7,500. anyhow, sue? >> yeah. interesting, ty. i also am going to watch the bond market carefully, because sometimes the bond market leads the stock market as a matter of fact frequently, and we have a lot more jitters in bonds than we do in stocks. and, you know, that bodes well for the bulls in the stock market but yot know. i'm watching that bond market carefully. more on the drop in stocks. a very busy day down here at post nine. we're back in two minutes on "power lunch." transports on the down side. interest rates, that's where the money's going. going into the ten-year note. back in two.

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back to "power lunch." tough day for transportation sfoks, like tyler mentioned before the commercial break. weakness in the transport as opposed to the broader market. leading the way lower for transport company. delta, airlines, rare operators kansas city southern and trucking company, conway you one of them as well. two more airlines. united continental alaska air across the board seeing

weakness. remember, transportation stocks are viewed by some, sue, as perhaps leading indicators for the overalleconomy. >> singing my stutune. and with albert frieden company a very pressey call about a week ago, a big down draft in the market i asked what you would do. you said i'm buying. ask you the same thing now. with everything going on ironed the world. down 209 points. what are you doing today? >> i'm hopefully this is the correction we've been longing for. i'm not buying here, quite frankly to deep short. what's going on, this market is being moved by geopolitical moves. stories about ukrainian planes being shot at. >> yeah. >> the bigger picture to me in this market is pricing, china's correction into the market. china was the savior of the world. they're no longer in has role and we're trying to figure out how to price it. that's what i think we're going through.

>> how does the market do that? we keep getting data points that have been weak, yet on the other hand, some of the china bulls say, but we don't necessarily believe those data points. we think things may be a little different than the chinese authorities are pointing out, and that's also something that the bears say about china. how do you price that? >> not easily. you have to be very cautious when you're dealing with china, because of the data you're reading can be manipulated. that doesn't mean we don't manipulate our own data. it's just investing your money, you have to be wary of it. the fact of the matter is china is not going away. in my opinion, not going into a depression, but they are repricing what had been a very successful double digit gdp growth pulling into single digits, made mid-single digits growth. with that comes the, how they manipulated their own economy, copper. seeing the effects. i thought the selling of copper was done. obviously, that's not the case, because you've seen a high pong kags of copper as backup to loans. seeing that whole structure devolve before our eyes.

that's what's being repriced now. we know china will continue to be a successful economy. not as successful as you'd like. like we're going through in the united states. recovering but not as we'd like. >> appreciate your perspective. ben willets. the biggessest etf winners. dow down 190 points. back in two minutes. iwe don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go.

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welcome back to "power lunch." one sector stands alone today in the green. utilities. this is where the money's going. high dividend stocks. utilities index currently the only in green in terms of the s&p 500. leading the way, centerpoint energy, enter if gy, pinnacle west, and notice energy or utilities is pasht of the big theme for today's trade. sue, back to you. >> found some green out there, dom. thank you. check the markets overall now. before we hand it over to "street signs" pap down day. down about 180 points on the dow jones industrial average. the s&p is down 17 and the nasdaq composite down 58. the nasdaq, the bigger of the percentage losers of the major indices. three etf winners now. spider international government bond, wip direction financial

and also that's a leveraged bear etf to tell you about and also power shares global gold, and it is trading in the green now. she tried to say it, ty. >> that will do it for a rough thursday on "power lunch," sue. >> "street signs" picks it up right now. . and like that, whew -- the year's gains for the s&p are gone. stocks are down big. apparently the germans are to blame. yeah. weeg serious. we'll tell you why. hi, everybody. mandy and brian here with you today. also today, has amazon.com just made the smartest move of its corporate life? has gm made the dumbest move of its corporate life? and the smartest move the republicans can make with the president's latest push to raise pay. mandy? >> hello, everybody. 65 -- no. not the age i want to retire