united, continental, american, southwest all lower along with the rest of the market overall. >> we are approaching the lows of the day with the dow jones industrial average on the down side by better than 80 points. s&p, nasdaq leading declines. >> that will do it for this edition of "power lunch." >> "street signs" right now. three dig stories that we are all over on "street signs." the nasdaq getting slammed, a big development in the fight against ebola and black berry getting a makeover. is it enough to rescue? >> that is the question. the big market story developing now. the nasdaq having the worst day since july. let's get to bertha coombs. >> it started with the small caps. the small caps had been having a horrible quarter after hitting an all-time high. if you take a look at the

russell versus the nasdaq has just been sliding and under performing. it is now off about 7% from its all-time high. now this afternoon we are also starting to see that sort of negativity spread to the big cap momentum names. take a look. yahoo, of course, big decliner. two down grades today. really wondering what happens with yahoo selling the stake in alibaba. how do you value the company? meantime, tesla, netflix, facebook, some of the big momentum names really starting to lose ground here in the afternoon. then we are also watching that contagion effect on the chinese internet stocks. on friday it looked like they were getting sold as a source of funds. today they are falling with it as we are hearing some more negative talk coming out of china with regard to whether there will be a stimulus there. the negativity seems to be harrowing over the it chinese stocks. meantime a handful of nasdaq

stocks are in positive territory. sina out by $17 million. handful of others in the green. back to you. >> thank you very much. joining us now to talk more about this managing director and senior portfolio manager. only five of the nasdaq 100 are higher right now. my math says that is about 5%. is it a buying opportunity or something more severe longer term. >> i think we are looking at this in the context of the larger market, not the nasdaq specifically. we would say the market has had a reasonable run. we wouldn't be surprised if the market came in here. we would be more slekive about looking at names. some of what happened last week there was the sale of the apple iphone. there was the fed news. and, of course, the alibaba ipo. so there hasn't been a lot of real new news today.

the news that came out about china and accepting a lower growth rate perhaps has kind of put a little bit of a damper on things. and the nasdaqtypically will be more sensitive to that kind of selloff than the s&p. >> bertha was talking about a lot of big momentum names coming hammered here. we have seen this story before. what do we learn from that particular lesson with the names being hit earlier this year? >> we are value investors so we think it is important to get back to fundamentals just because the stock has gone up a lot doesn't mean it will go up a lot more going forward especially as the valuation gets disconnected from the valuation. so if you in a momentum stock because you think good news will beget more good news. if the momentum does slow you

don't have the fundamental strength underneath the stock to support the valuation. we would be wary. again, we pretty much always are. >> what is the most value dripping stock in technology right now? >> one stock we like a lot right now is on the mid cap size is seman tech. it is in the right space in the antivirus and security space. there are a lot of changes taking place in the company including significant management change that should be announced at the ceo level. the valuation is actually reasonably solid. and we think that the stock has more upside to go. >> indeed today it is only down by about 0.2%. among names hit hard do you see any that are a buying opportunity? >> those are the names we have the most difficulty with.

whether it is yahoo where valuation is now difficult to put your hands on what the stub of yahoo is. the operating company is worth or some of the more momentum-oriented names like a netflix. those are names that are kind of beyond what we get comfortable owning. >> thank you very much for your take on what is happening in the market. a break through development in the fight against ebola. what have we found out today? >> it is about a canadian drug maker soaring after the company said regulators authorized use for the experimental drug for ebola. the company says the drug has been well tolerated and noted that supplies are limited but the company said it will help where it can. tekmira did not respond for comments today. up to 900 courses of the drug

could be produced by early next year. analysts says the program is early in the development and impact remains uncertain at best. the outbreak in west africa wages on. today the count stance at 5,800 cases and 2,800 deaths. >> tekmira not only doing good work here but hot stock. a lot of outlandish expectations for this company that i have read on stock blogs? >> there have been some. that is why he is exercising caution here. he says there are other things about this company that are appealing. maybe you should exercise caution on ebola because you don't know what the market could be on a drug like this. this is still experimental. >> before we were all talking about ebola we barely talked about tekmira and suddenly it is up 186% so far this year. so suddenly thrown into the limelight.

>> the volume is up 100s of percent. talking on your phone while strutting down k street in washington, d.c., you better be careful because cnbc reporting today that as many as 15 interceptor cell phone towers may be in operation in just the d.c. area alone. how safe are your cell phone calls and texts? joining us is private investigator with cpi investigations. this is scary stuff. are literally people able to listen into your phone call? >> absolutely. that is not all they can do. they can control every function of your phone. they can mic up your camera and listen to your text messages, listen to phone calls and text somebody from your number. it's scary stuff. >> how wide spread is it? is it the kind of thing like a normal person like me could do or do you have to be tech savvy?

>> yo ahave to buy a program that is pretty expensive. you don't have to do it yourself. there are companies that provide the software where you can send what we call a trojan horse into your phone via e-mail or text message. once that is in there then you are locked in. >> is it as easy as buying this expensive software. >> a couple hundred bucks now. >> it is about $1,000. >> we are talking about it now. with all due respect you are not the government of china. we are talking about individuals who are now able to essentially take over our phones? >> right. the services that these programs -- you can get right from your cell phone carrier. let's say you had a mom that has problems with teenager, they can go to verizon or their cell phone provider and track phone calls and text messages. it is the criminal element that

is using the programs. >> what is the legality here? >> it is completely illegal. >> they are breaking into your possession. >> there is no situation in which this could be considered legal. >> you can't report somebody's phone call across state lines. >> nothing legal about it. if it is legitimate use you go to the cell phone carrier. if the phone is under your name you can do whatever you want. this program is done from the criminal element. >> what do we do? you got a lot of high profile clients. between cell phone hacking, e-mail, theft of log ins, are you telling your clients go back to the godfather, whisper it to him and relay the message to that guy and never put anything in print and never send anything or say anything important on cell phones. i'm only being mild ll lly sarc.

>> the safest phone thunderstorm o is the one you buy at ccs and throw it out. >> i should learn to use a cell phone from watching "the wire." >> or don't have a cell phone. maybe people could think about this. guys probably feeling a little insecure after that last segment. if you want safety apparently blackberry set to unveil a new phone called the passport. it says it has the safest mobile operating system around. let's get some analysts insight with managing director. i'm sure you heard the story a moment ago. do you think this is a big selling point for the new black berry phone? >> i don't think so. i think black berry has tried credentials in the security side for the past four or five years and the fact of the matter

remains their market share goes down pretty much 20% to 1%. they will try to market the secure elements that they have and they have a network operations center and a brand name on the security side. given the other challenges i think the black berry ecosystem faces which is subscale, poor design and weak ecosystem and the cost i think it is hard for them to drive a recovery in their hardware business as a result of other factors. >> if you are right let's write off almost the hardware. everyone sels black berry has all of this intellectual property. where is the value realization or is it possible the ip portfolio is not what we think it is? >> i think it is definitely the latter. i think there have been stories about the intellectual property but my opinion is they have weak

position. i think people get confused by the ipr and assets which have capitalized deals with various partners. the simple way of looking at it i look at it this way. everybody black berry pays. if it were this availabvaluable aren't they acerting the ip. i think the quality of the ip is relatively poor. i don't see them necessarily populated. >> it is just to finish it, it is value for black berry but not when it is $6 a share. it is more about monetizing services. it will be very hard for them to turn around. >> you have an under perform rating, $6 price target as you

mention. do you have faith at all that they are going to be able to implement turn around suggestions that you gave? >> one of the problems today is that the only phone vendor in the world that gets paid carry access fees. they used to get paid the fees per month because they used to do security and compress e-mails. the issue is carriers don't value that as much and the new platform does not use it. the revenue line they have will hover thus declining quite steeplych what they are trying to do is trying to put black berry security and mobile devices like good technologies. the problem is the mobile device management solutions are already deployed at many companies and are late to the game. our concern is they can't build up the stream as quickly. that is what jeopardizes turn around because that business is

about 80% gross margin. >> i think you could have answered my question in just one word, no. wednesday is the big passport launch the shares are up about 45% year to date. clearly some people in the market feel they have faith in black berry. >> a lot of them are gambling. the passport if you haven't seen it is a perfect square. it is very different than anything else in the market. black berry is going to either be very right that people want a bigger keyboard or they are going to be incredibly impossibly wrong. >> it will be cheaper than the iphone 6, cheaper than the galaxy s 5. whether that makes a difference who knows. >> apple sells more of the higher priced phones than lower priced phones. there seems to be a millennial malaise when it comes to spending. what might that mean to the economy long term? we will try to dig into a younger person's mind coming up.

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when it comes to paid in america millennials aren't buying it. >> thanks very much. when people come down to it they often will say that it is very important to them that things

are made in the country that they live in. they want domestically made products and they are willing to pay for that. you see a serious break down as you go to younger and younger people about this. we talked to 25,000 people around the globe. the chart shows you about 43% of them say they would pay more for a product that was made domestically. 43% said they will take it wherever it was made as long as they find it as cheaply as possible. you find out that older americans and older people are much more willing to pay more for something made domestically. for people who are 65 and older it turns out the break down is 64% said they would spend more money while 29% said they would take it wherever it was made as long as they can find it cheaper. if you look at the millennials you find out 43% say they would spend more money to buy something made domestically. you might look at that and say

that these just aren't people who are willing to stand by their convictions but it probably makes sense to realize that younger people just don't have the means to be as flexible about some of these things. some of these are very cash strapped individuals and sometimes they have to weigh the things they have to have. >> there is no country in the history of the world that has low cost goods and high wages. you can't make cheap stuff and pay people good wages to make the cheap stuff. >> that is why you end up buying things from other countries. >> further driving down wages here and thus the cycle towards the bottom. happy monday. so millennials aren't buying homes or cars or engagement rings apparently. what are they buying aside from phones? let's bring in our guests.

>> one of the studies that has come out recently says they want things that are fresh and fruits and vegetables, organic foods topping the list. what they want least or less favorable to them is things like mobile apps. that is more like 47 in the list of 100 things they want to buy right now. it might be a little counter intuitive in terms of what they want. they want what they need right now and they want the best, freshest, organic. >> what is your take on this? you always have an interesting point of view. >> it is absolutely true that we are spending a lot less money on houses and cars. the worry i have about using the polls as an indicator is that all sorts of people say what they want in polls but you have to look at what they are spending on. we are definitely spending more money on education. most educated generation in the u.s. history. a lot of people used recession to bunker down in college.

two is technology. you saw the line for apple. iphones are expensive and we are spending a lot on these companies. >> so not only are you a smart guy and always have something interesting to say you are a millennial. are you an alien? is there hope for america? >> i don't think i'm an alien. >> is there hope for america? >> i am prepared to make the case for hope for america. there is no patriotic duty for people to spend more money than they earn. if you are going to talk about patriotism you should spend less money than we make. young people are not making a lot of money. >> i disagree a little bit. there is a patriotic duty to support your neighbor. all i was pointing out is that if you want to buy shoes for $30 a pair they are not made in the united states. the shoe factory closed down you lose your job and go to work someplace else making 30% less now you are forced to buy the

cheaper shoes because you don't have the money to buy the previous form. >> i don't think a lot of consumers spends a lotf otime thinking about the economic cycle of the purchase when they need to buy something. they need to buy it and now and for the price point that they can afford. when you are talking about a younger generation that has student loan debt and trying to deal with credit card debt if they have credit cards. all of that is impacting what they are spending. we shouldn't be surprised that they are not looking around to find the best made in america products because they are not really looking around to find any particular product. >> do you think there is really just not the same value amongest millennials placed on ownership. we have zip car. people happy to sleep in other people's rooms.

>> they always were. just leave before sun up. >> there are so many applications and so many tech-driven services available now where people with basically share and not really care about earning something themselves. >> in the one hand the them of everything you talked about today is that millennials are also the most price sensitive. the mobile revolution has allowed access to products without actually owning them. you see this in terms of cars and clothes even. you see in terms of houses. and certainly you see with uber and lift a sense that if we can get something cheaper, cheaper than a taxi and feel like we are part of a movement, a movement that is saying that the taxi regulations aren't realistic and reasonable and find something else that is better when you have those two things and a sense of brand-and a cheaper product that is where the sweet spot is. >> i would say not like the millennials are thinking it is

unfair the taxi system. i think it is convenient. >> what might be the next leg of what impact this will have on the economy is in terms of entrepreneurship and in terms of businesses and the sharing economy is taking over that realm, as well, when you have companies like we were where you have hundreds of companies, maybe one or two people per company in one work space dividing that work space and the cost and not having overhead. this is one way to generate and spur the momentum in the entrepreneur economy which may be another facet of the millennials generation. >> some guy writes in. you blame the millennials. what we have saying is this. we can have cheap goods or have high wages in manufacturing of those goods. that is it. you can't have both. history has never shown you can have both. >> i'm not going to argue that.

>> after you get off my lawn remember somebody is making that stuff that you buy. >> that's all. >> thank you. get off my lawn. two big merger deals today have one big thing in common. we will tell you what it is ahead. a disturbing new report on who is really funding isis. (vo) you are a business pro.

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two big deals have one very big thing in common, germany. let's bring in foreign correspondent. >> three happened in 2014. we have seen $61 billion worth of german companies buying u.s. companies. 5% of all has come from these german deals. we showed you the first two already. just a few weeks ago we had -- buying trw automotive and then

baer. a couple of reasons talking to market participants. the german economy is weakening. you buy growth in a different country. u.s. is growing relative to germany. eat or be eaten. in other words, if you don't want to be the subject of an inversion be aggressive and do the deal yourself. buy now before the dollar gets stronger. growing consensus that the trend we are seeing currency is weakening. this is really important. this is the other side of the inversion question, the tax advantage question. remember, basic thing about a stock price, a stock price is the present value of all the future dividends. dividends are paid after taxes. so if you have lower taxes you have more money to give for dividends. so there is more strategic

sense. >> is there indication this will continue or maybe are we at peak? >> all four of those things do not appear to be changing at any time soon. the one you could argue about is what will happen with the dollar. you can never really predict a currency. economy weakening they have made very bad decisions about their energy future in germany. it is becoming incredibly expensive. inversions -- >> my neighbors are german. and we talk about this. and she is a very powerful executive at a german company. i think there is the desire to buy dollars. they are really concerned about the euro and want to snap things up before the euro gets too weak. >> hence the dollar strength. and then you buy products in that currency. >> stay with us. our next guest says high tax rates here in the united states make our companies vulnerable to foreign takeover. former deputy secretary under

president george w. bush. thank you for joining us today. you are saying that literally hundreds of american companies every single year are being acquired by foreign companies and taken offshore and this is a major problem. >> definitely. >> last year first six months of the year 484 u.s. companies bought off and shipped offshore. the u.n. wrote an investment report. nearly 1,300 separate transactions where u.s. assets were purchased by foreign companies. it shouldn't be a surprise that this is happening because of the u.s. tax code with highest corporate tax rates in the developing world. foreign source income is worth more in foreign hands. no surprise that u.s. companies are moving overseas one way or the other. >> what do we do about it? everyone says this, that and the other thing. find a solution, please.

in the next two minutes. >> fix the system. lower the corporate rates. get rid of the world wide tax system we have had for decades. >> we have people screaming the late is too low. we have marches. there is no way corporate tax rate is going to get lowered. >> last time united states cut the corporate rate was 1986. we have had the same rate in place. at the same time cutting tax rates and moving to territoryial systems. united states is falling behind by standing still. >> just the system where you are a u.s. corporation you get taxed on your profits all over the world. if you plan to grow a lot outside this country you are disincentivised to doing that. a foreign company can now buy that u.s. company and all that overseas growth they get at a much lower tax rate. it is so much more beneficial to them. >> i think at least on this table we are kind of in agreement that reforming the corporate tax code will not

happen this year or next year. we have been talking about it for a long time. what else do you think can be done as a solution? >> first of all, some people in washington, d.c. would have us take the berlin wall approach. we can't say to u.s. companies stay here or else. we need to make the u.s. market attractive. we want to bring other countries to the united states. united kingdom has done what we need to do. they slashed corporate rates and changed how they deal with international income. and you have seen scores of companies saying they want to go back to uk under this new tax regime of theirs. >> uk is even bigger than the german data. they have done so many more acquisitions on a grand scale, as well. >> so we will continue. >> thank you very much. great conversation. just because a stock is down about 30% doesn't mean it can't go down even more. so says our good friend herb

greenberg here with a big warning on one of today's big losers. first we are heading to a tropical paradise for one of today's big moves. if i told you that a free ten-second test

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time for "street talk." our first stop is realagy. they downgraded to under perform. credit suites concerned about early trends. >> and now on to the walgreen company. >> after doing what it called extensive analysis of prospects barclays downgrading it. they cite downgrade and lack of information and impact of rising prices for generics and cut target price. moving to stock number three. sun trust upgrading.

>> analysts believe it is on track to outpace competition. company hit a 52-week high of 83 bucks. the price target raised. chemical maker getting upgrade. >> paul >> poly want an upgrade. ohio based chemicals and polymers company being raised to overweight from equal weight. target $45. stock down 13% up nearly 40% since january. now to our vacation destination hawaii for under the radar name of the day only if you were able to venture there. >> this company is under the radar name except for the 95% of people in hawaii for whom it provides their electricity. we are talking about hawaiien electric getting an upgrade.

they have a $33 value and don't have targets. nice upside to the $26.60. ticker by the way is -- take a look at this chart a company called carbo ceramics. stock down by 17% today. let us welcome in herb greenberg, editor of reality check. your basic bottom line is despite the pain today you think it could go down more. >> when i initiated on this back on august 6 that was the point of my report. the stock had come in 30% because the company lost its biggest customer, someone using ceramics. they make ceramics as a fracking

and this company will sand. the stock collapsed 30%. just because stock is down 30% doesn't mean it can't go lower. a lot of people lose track of that at times. now you have the stock off since then quite a bit. i talked to guys today who think this stock could see $40 before it is all done. >> kind of like the proverbial trying to catch a fallen knife. >> this is a classic case. sometimes if you see a stock off 30 pkd you say it is a bargain. >> there is a real issue in the industry. jim cramer has been a huge proponent of sand. he is actually right on that one. this is important because if the fracking industry starts moving away from ceramics which is a very expensive product which is a huge premium to sand you end up with a company that has to spin its story another way. i think that is what you will

start seeing now. >> lay it on the line. herbal life down again. do you believe that bill acman will ultimately be proven correct in the $0. will he profit on this trade? he is headed there. he might have bought puts a couple of months ago and he is already in the black. >> here is what i know. a week ago avon said we are giving up our membership in the direct selling association. they are doing that because they want to separate themselves from what they fear could happen as a result of what may happen if regulators if do something with herbal life. so i'm not going to -- what i'm going to say is when it is said and done new rules and regs will reset what is going on.

>> we can see down 46% year to date. thank you very much. >> where does isis get its money? a new report says it has a network of rich backers who are supporting terrorism. who are these backers? one nbc reporter has answers. file this under yet another power of apple, the power to determine what you wear. got an iphone fashion alert coming up. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is more reliable, secure, and agile.

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where does isis get its money from? nbc news learned isis is bank rolled by rich individuals in the gulf. joining us now is robert windrum who broke the story. who are these people and why? >> what's been happening over the last couple of years is that isis has been essentially fundraising much like seeking angel investors in a startup as one u.s. official said to me except this startup is involved in spreading hatred. these rich investors are not the main source of the isis funds but it is a steady stream and

one that the u.s. is very much concerned about because financing for the u.s. is a front in this war against isis as u.s. officials tell me. >> can i pick you up on what you are saying about fundraising because i thought arab states had laws outlawing that activity. >> the question is enforcement. what u.s. officials will say is that saudi does enforce its laws but that qatar and kuwait have not. and, in fact, if you go back a few months you will find the under secretary of the treasury telling a group of people that indeed that these were jurisdictions that were not fulfilling not only u.s. foreign policy goals but their own laws. and they have been an issue off and on for years and what you hear from u.s. officials is that there has to be a very collective effort by those

states in order to make certain that we don't see this continue. as of right now it is continuing. >> you can raise money but can't pay interest. they have weird fee structures. i'm confused. when you say investors, are they just backing these guys for hate sake or are they literally sharing in the spoils? if that is the case would that make isis literally just robbers? >> certainly what you have here is a concern that this is being done for the sake of hate. and what has been happening over the years is that the most radical elements are the ones who have been getting the lion's share of the funding. we are not talking about somebody getting a return on investment, a financial return on investment but certainly according to u.s. officials there is a psychic return on

investment. essentially fundraisers are going to these countries meeting with these people, meeting with groups of these people, getting commitments, again, much like in silicon valley. you want to find somebody who will give you the early money because as you know the early money is the best money. >> literally backers of hate. thank you so much, bob. amazing revelations there. here is an amazing revelation. it is not only the government that screws things up. we have the story of a private highway that is going to file for bankruptcy. >> one of the coolest summers in recent memories officially over. now we are thinking about winter. the forecasts are in for a cold winter, as well. we will take a look at what that means for natural gas, stay with us.

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that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while. someone whose poor performance

is slowing down the entire organization. i'm looking at you phone company dsl. go to comcastbusiness.com/ checkyourspeed. if we can't offer faster speeds or save you money we'll give you $150. comcast business built for business. all right. governments all over america struggling to pay for road and bridge repair. so's the private sector company that took over the indiana tollways, as well. filing for bankruptcy protection. paid to the state in 2006 and now it's more than $6 billion in debt. why did this happen?

likely two reasons. probably it, a, overpaid. and b, widely underestimated the amount of revenue to generate from the fewer people on the road. >> nat gas jiinventories have bn increasing but what should we expect after last year's weather? we have two guests. paul, i want to start with you. i hope that you're going to be the bearer of good tidings and not bad. when's the winter look like ahead? i don't think i could handle another polar vortex. i'm going home to australia. >> i don't think there's going to be as many polar vortexes this year, mandy. but it's winter and wsi part of the weather company released the winter forecast and expecting colder than normal temperatures but really be backloaded into winter and talking january, february. interestingly what they're interesting is through december the east and the west are both

going to trend warmer than normal. for consumers, this is pretty good and very good signal for holiday shopping. >> let's go shopping. which businesses are standing to benefit, paul? >> i think the department stores. i think the specialty apparel retailers. i think the restaurant sectors, mainly because of the comp. last year was so horribly bad in terms of cold weather and extreme snow that it's a very easy comparison and the way the weather patterns are shaping, it will be relatively mild. this means they will have a lot more opportunity to sell things and will be more store traffic. >> okay, greg. let's talk about natural gas. a lot of americans and viewers got sticker shocks in the winter. what the -- you know, the bill's spiking like this. how are we looking this year inventory-wise and price-wise? >> we are looking very well, i think.

in fact, last year, really, you only saw about a 10% increase over the prior year. looking on average across the country. so, our projection, prediction based on a report put out today is given colder than average weather coming up, warmer than last year, a 7% increase in bills this coming winter. that's going to vary a lot by region of the country and as you heard, different parts of the country will have much different weather. >> that's not too bad then. aside from a drop below three and six, we haven't really had a lot of volatility in natural gas for five years, gregg. between three and six. >> that's right. what we have been seeing are impacts of the shale revolution in this country and it's been a tremendous benefit to our economy, and to consumers in every part of the country. my customers at my company are

paying about what they were ten years ago for their natural gas prices. >> gregg, paul, thank you very much for joining us. we'll see when old man winter comes. will the new larger iphone 6 actually change fashion trends? keep your pants on because jane wells is coming up next. when fixed income experts work with equity experts who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration.

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the pocket of your skinny jeans? this is surely a story for jane wells. changing fashion, literally. jane? >> reporter: you know, mandy, it is not just a phone but an object which to build a wardrobe. we don't have an iphone 6 plus. this is the galaxy and you get a sense of how big it is. all right. so say you want to put it in my skinny jeans here. i don't know. maybe a little bit too much. just perfect for cargo pants. yes. i got these on the sales rack at the gap. $29. marked down from $54 this weekend. boom! done. hoping perhaps the new phone can help boost sales. rbc xl at the mall this weekend and monitoring lines at the apple store in new york. quote, for the first time in a long time we saw solid customer traffic in the teen retailers but the iphone 6 plus may have issues beyond where to stow it.

>> iphone 6 plus wouldn't fit in the pocket so much and it's a two-handed phone and i'm usually working and one hand on the phone. >> reporter: i'm hearing that a lot. it's the size of one hand and whether or not a pocket. lee jeans part of vf corp. with new jeans which will have a 6 by 6 pocket and they say one trend seeing big right now and will work baggy jogging pants. yes. from skinny jeans to jogging pants. i got to go shopping. back to you. >> i'm going to say really fashion snob kind of thing and i thought skinny jeans were no longer fashionable regardless of the iphone size. >> reporter: i will not miss skinny jeans. i will not miss them. >> definitely no longer fashionable. >> they're not? >> sorry. >> reporter: especially for guys. >> circa 2005 in terms of your fashion. i don't know. i never see you outside of a

suit. you know. can't tell. okay. well, we have the worst day since august for the s&p. the nasdaq having the worst day since july a lot of red. >> coca-cola, merck, at&t all higher. closing bell with much more on the markets. welcome to "the closing well." i'm kelly evans here at new york stock exchange. >> that makes me bill griffith. we are watching the markets lower across the board today. the naz democracy and the russell 2000 particularly in the spotlight. the russell now 7% off of its most recent all-time shies set back in july. listen to this. the nasdaq, one of the statisticians, robert hum and i figuring this out. on friday, the nasdaq hit its most recent 14-year high. today, with it being down about