>> nouveau, let's be clear. >> trade out tomorrow on the pop. >> that does it for us. much more on the market selloff an the buying opportunities ahead on "power lunch." melissa, thank you very much. triple digit rally yesterday. not so much today. triple digit losses right now. worse day for the dow since july 31st. investors hitting the sell button on fears about interest rates rising sooner than expected. we'll tell you how to protect your portfolio from all these winds right now. check out the small cap stocks and the major gold and energy etfs down from a little more than 4% to 7% since the start of the month. should you be in these sectors still? are there buying opportunities within them? and apple really weighing today on the nasdaq 100. there it is.

down 3% today. you got the stories about the bending iphones. now problems with its latest operating system update. just how much troubling news is this for the tech giant? first, though, check in with sue down at the new york stock exchange. hi, sue. >> hi, ty. it is an ugly day down here. the dow down triple digits. the fourth straight triple digit move and something the dow hasn't done since mid april. giving up all of yesterday's gains. here are the numbers. dow down 242 points. the low of the day down 256. s&p 500 off 28. nasdaq off 79 points. leading the decline in terms of percentage moves. russell 2000 laid claim to that earlier and come off of the worst levels and down almost 16 and the transports down 112 points on the trading session. where interest rates are right now, 10-year note, the yield trading at 2.522%. more on the trading action.

bob pisani is with me. bob, we start with you. we're just off the lows of the day. >> i think two issues particularly gotten a lot of attention today. look at the s&p 500. richard fisher, he of the dallas fed, a well-known hawk, aggressive this morning saying the fed may raise rates by the spring of 2015. earlier than anticipated and made similar comments before. he took a shot at the high yield markets. he said in particular, beginning to see extreme risk taking in the junk bond market. surprise. high yield down and that's affecting those areas. these sooner rather than later comments also affecting emerging markets. they're interest rate sensitive, as well. no surprise, the eem, look at that, down more than 2%. turkey, india, the emerging market etfs are weak and rather high volume. other issues, sue. rather vague reports,

unconfirmed, that the russian government may enact a law to seize foreign assets on russian territory in response likely to western sanctions. unconfirmed but you see what happened here to germany as these reports came out, before our open, their market's headed down and then started to accelerate once the u.s. market opened. this is a big issue over there because if the conflict escalates we have no growth in europe. we could tip it into negative growth and perhaps even a recession down the road and this is concern. france was weak. all the charts look the same. with a due of volatilities, the etfs move a lot. is there's an issue with the strong dollar, as well. look at the high beta etfs of solar stocks. nasdaq bio tech stocks. that's semiconductor index. they move more when the market is volatile and what's happening. >> what they're doing today. see you in a little bit. apple is biggest drag on the nasdaq down about 3%.

bertha coombs is following the big movers for us. hi, bertha. >> hi. last week, beginning of the week, we saw the decline led by the small caps and the russell 2000 off about in line with the overall market. here's the big plunge. nasdaq 200 down. apple dragging down did big caps. bob talked about the bio techs. selling off hard. down 2% today and the chip stocks, as well. there have been only a couple of stocks that have bucked the trend today. one of them is discovery communications. the company is buying a stake in a channel doesn't already own. another one is mankind, mnkd and moving higher on a development deal. a couple of other stocks to watch here. you know, we have seen lots of negative sentiment but gopro today hits an all-time high after having gone public in june today. extending the momentum of

yesterday as stocks got bought back and stocks hitting new highs all of them have been dragged down as we have watched this decline here in apple. whether it's bendgate, sentimentgate, the ios problem. apple at a low we haven't seen since september 10th. sue? >> thank you very much, bertha. with the dow approaching the lows once again, let's see whether or not that put a bid under the 7-year note auction. rick santelli, how did we do? >> i thought it would have been a better bid. this is similar to yesterday's 5-year. i picked "c" minus. 29 billion 7 year the yield at auction. 2.235. which is about a basis point tail because it was bid on the offer side. the internals, the bid to cover wasn't bad. 2.48. below the 2.568 10-year auction

average. indirect pretty good and the directs failed miserably at 10%. that was the lowest level since july of 2012 which meant dealers took 41.7% of the auction, a very questionable c-minus and does understand score it seems so intuitive for a better bid for the auction and investors are staying away at the moment, maybe until a little bit of the smoke clears. back the you. >> thank you. check out gold and oil since the beginning of september, both down about 6%. gold off 5.25. looks like 5.91% for crude oil there. important, nearing the 1,200 level on gold, i guess. oil around $96. energy stocks among the worst performers lately. dominic chu taking a hard look at the hard commodity stocks. dom? >> the ones you drill for or

mine for. right? look at the renewed selling pressure in the markets hitting energy stocks worse than other ones. it is a sea of red today and see there down about 1.3%. energy stocks taken a big hit in month of september alone and lost about 7% month to date amidst falling oil prices taking energy the single worst performing sector so far in this month of september. among the worst performing stocks in the group since the month began is exploration like newfield exploration losing about 14% so far this month. also valero down 15% during that very same time frame. and the oil drilling companies had it the worst this time around. transocean, diamond offshore, noble corporation, all down by at least 16% and just over the last three weeks here. speaking of drills, it is not

just gas and mining stocks but about the gold precious metal type companies, as well. prices have been weak especially in gold despite the slight update today. freeport, both components and down at least 10% just since august 31st. there's quite a bit of downside momentum shorter and medium term with the names. now, it's about how much more downside there is or whether or not enough of these have fallen enough to put them on investor tyler shopping lists. back over to you. >> thank you very much. check out the small caps. they have been taking a baetding down about 5%. there you see it on the russell 2000. is this selloff potentially a time to go doing a little bargain hunting? what did you find, morgan? >> first of all, showing weakness all year and despite that, there are still a number of small companies that analysts are still really bullish on. we screened the russell 2000 for

stocks with a $500 million market cap or higher dropping from the highs and really strongly recommended by analysts. one example, take goodrich petroleum corporation. this is an oil and gas producer. largely based in texas. stock down about 67% seasons this year and 14 buy ratings from analysts currently on the stock. another name to check out is ciena. this makes communications networking commitment. that's down about 25% year to date. that, too, has 12 buy ratings from analysts. that's despite the fact that it was a lowered outlook for the current quarter. we have even seen a recent upgrade in spite of that. nimble storage is down 43% year to date. really getting walloped this year and that, too, 12 buy ratings from analysts and moving out we have seen a number of reports from analysts just this week. one example, goldman sachs with

a report highlighting small caps with strong free cash flow and solid earnings momentum so for them they have names on the u.s. conviction buy list, sun coke products up .5% this year and goldman projects it could have 14% upside in that stock price moving forward. also, wi-fi technology maker ruckus wireless. bucking the larger trend up 4% so far this year but, again, goldman expects this could run another 24% on that stock price. lastly, want to pull out darling ingredients with ingredients for food and pharmaceutical companies come off 11% year to date. again, goldman thinks this stock could have a 34% upside in coming months. so certainly some names to take a look at as we see the markets continue to come off today, tyler. >> you know what?

i'll take it. you gave me a perfect segue to the market guest. take a look at where stocks are sliding now. dow down 238 and the dollar is continuing to march higher. hitting 14-month highs, a strong greenback could have major ramifications for big cap stocks that do the business overseas. how do you play a strong dollar and the possibility of rates rising sooner rather than expected? joining us now is phil orlando, chief strategist on the floor of the new york stock exchange with me. and katie nixon, welcoming her back, chief investment officer for northern trust wealth management. phil, i'm going to start with you. before the dollar specifically, what do you make of today's selloff and the volatility between yesterday up almost 200 points and now we're off better than 200. >> i. >> i'm going to discount the volatility because of the holiday. any kind of movement can be exaggerated up or down on this kind of a holiday.

>> yeah. overall, do you still like the market? i know that some places are a little bit stretched and other places still have value. >> we remain constructive. we have a 2100 forecast on the s&p all year. sticking to that number. that probably puts us about 6% or 7% away from the target at this point and we think we have a pretty good fourth quarter. >> katie, we mentioned the dollar and i know that you have an overweight to equities. you like the equity space certainly but if the dollar continues to rise and earnings are what -- driving some of these stocks, are you worried that the stronger dollar might hit some of the larger cap companies? >> so first i think it's important to recognize what's driving the strength of the dollar so we have a couple of things. firstly, the u.s. economy is gaining momentum and so we're seeing the u.s. as a sign of strength in a global economy that seems to be having trouble. secondly, our central bank as you mentioned may be closer to the exit than any of the other developed market central banks so providing a nice tailwind to

the currency and seeing very strong demand for u.s. assets. those are positives. we look at the past and see that strength in the u.s. dollar has a positive correlation to equity returns here so we're not searched about the strength of the dollar. i do think you raise a good point, though, about the affect on multinational margins and certainly i think we'll hear of in the third quarter earnings releases upcoming and keep our eye on. >> phil, where would you put money to work wary of the fact, perhaps, we might see the big exporting companies or multinationals take a nick in thor andings? >> i think katie's spot on. with the analysis she did. we like large cap stocks over small cap stocks, as well. but very good point that major u.s. based multinational company that is do a lot of exporting as the dollar continues to strengthen, we may see some pressure on the export volumes and that could hurt consolidated returns. so the flip side of that argument is smaller cap stocks

which have been pulling back here. probably down about 9% or so over the last couple of months. as their valuations become more attractive, and if there is further pressure on an exporting volumes, perhaps setting up for a rotation as we get later into the year. >> katie, final thoughts from you? >> final thoughts is that we're still very positive on risk assets. i'm not surprised to see the market pull back today. it was mentioned we have light trading volume in combination of fact of quarter end and seeing a risk off trade here and i wouldn't carry it into the future. i think we are positive on the markets. >> yeah. you have said taking risk is rewarded this year. all right. thank you so much, katie. phil, good do see you. you have to come back more often. >> i will. >> both of you, thanks. back up to you. thank you. china adding to market fears. a report of regular lay to recalls with $10 billion in fake currency trades. you didn't hear me wrong. chief international correspondent melissa

caruso-cabrera with more. where this story is interesting, michelle, in the hows and the whys. >> exactly. $10 million is probably low. and it may -- >> million or billion? >> billion is low. a lot of people involved familiar with this market think it's actually much bigger. you may think it's a business of scoundrels and cads but not necessarily the case. what's probably ka happening here is using fake currency trades and faking voices in order to move country -- move money out of the country illegally or to secure financing because, remember, there's two key things about china right now. the way they allocate credit is not by the market. but by political dictum and financing is difficult. >> trade finance. >> offshore. and/or it's because, you know, there's a limit on how much money to bring out of china every year. $50,000 worth. and yet, there are many, many chinese people buying $50 million apartments in new york city.

how does that happen? >> big estates in california. how does that happen? here may be part of the answer. >> exactly. >> another big change potential change in china would involve the head of their central bank who's been on the job a long time. word is that he may be moving out. replaced by the new leader over there. what's going on? >> so he's been there a very long time. he stayed beyond retirement age and asked to stay longer. there was a fix to get him to stay longer and concerns, is he pushed out pushing for too much reform like the way credit should be allocated and like allowing money to move freely like we were talking about. people very familiar with china tell me they don't think that's the case and because the man to take over is just as much of a reformer as he is and very much a supporter of allowing capital to flow for freely. to allow the normalization of the chinese banking system so that it works like the rest of

the world. in other words, bankers decide who gets credit not based on politics but based on the credit worthiness. >> the new leader probably wants his own people in there. >> exactly. exactly. >> michelle, thank you very much. all right. to morgan brennan now. market flash. >> thank you, tyler. we were just talking about stock picking in the russell 2000. here's a name for you. check out swift transportation popping about 12% right now. swift reaffirming higher third quarter earnings guidance in a company release. the coo citing improved driver turnover and record recruiting. sue? >> thank you very much. look at apple stock today. the worst performer on the nasdaq 100. bending iphone problem, problems with upgrades to the latestios. how big are the problems really for the tech giant? investors and apple fans certainly need to know. the stock's off better than 3%. heading out, a look at how some of the inverse etfs are trading

when the market goes down. these inverse benefit all up at least 1.3%. while every business is unique,

everyone is looking for ways to cut expenses. and that's where pg&e's online business energy checkup tool can really help. you can use it to track your actual energy use. find rebates that make equipment upgrades more affordable. even develop a customized energy plan for your company. think of it as a way to take more control over your operating costs. and yet another energy saving opportunity from pg&e. find new ways to save energy and money with pg&e's business energy check-up. all right. let's take a look at a company whose shares are tanking today. that would be apple almost 3%. been a rough week for apple. the company pulling its ios 8 update for a possible glitch that could turn your phone essentially into a brick.

this comes on the heels of complaints about the new iphones bending. apple issuing a statement about the ios thing saying we're working around the clock to prepare for ios 8.0.2 with a fix and will release it in a few days. how bad are the problems for apple? talk to jon fortt and dawn chimaleski. welcome back dawn and jon. >> thank you. >> how bad is this for apple? they have had smudges on what had been a pristine reputation over the past couple of weeks. >> yeah. you know, clearly, no one's popping champagne corks in cupertino over there but let's put it all in perspective here. the company within an hour of learning about the glitch in its ios 8 update which took phones and brought them -- kiss connected them from the cellular

network, they took it down, apologized, published a work around late last night. they're being responsive which is, you know, you have to give them credit for owning up to the problem. >> yeah. but, jon, this is a fairly, you know, on a dramatic unveil like the iphone 6 and 6 plus have, this is a fairly dramatic stumble, isn't it? >> in a way, tyler. but i would argue there are two types of problems that you have as a company with a launch like this. there's the type to quickly recover from and a type you can't. the type that you cannot quickly recover from is like an innocent thatgate and the basic design of the phone is covering up something that hurts reception. they did recover from that pretty quickly with bumpers and then the maps issue and the maps were flawed. it took them a series of months to get them closer to up to par. in this case, with ios 8, they push out an update to hopefully fix this once we see it in a few

days and know for sure and able to put a fix to let people roll back to a more stable version of the operating system and then coming to the bent phones and there are reports of this beyond what you see in videos. reviewer for "wired" said his 6 plus bent. they could offer reinforced cases to make sure it doesn't happen and replacements to people with issues they didn't force upon themselves. i don't think it's unrecoverable. >> i heard the eagles got the mercedes benz, right? dawn, back to you. these questions, are we sure that when they're ready with this update to the software that the use earls will be able to receive it if their phones are having a hard time connecting to the service anyway? i'm not sure i'm asking the right question. dig me out of my hole. >> all right. happy to do that. so as jon said, apple last night rolled out a fix, a work around. go to itunes and basically

restore the phone to the original version of the operating system before this update which was intended ironically to fix bugs. so the phone should be working today. and there were only a limited number of people i believe impacted. hard to know. apple isn't releasing numbers. but the update out for about an hour. it affected primarily we believe 6 and 6 plus users and a small universe of people. >> thank you very much. jon, great as always to see you. now to morgan for a market flash. >> thank you. check out clifs natural resources. shares of the mining and natural resources company down more than 7%. down almost 8% on the day. this comes after a report saying that cliffs earnings are at risk from a slowdown in the chinese property market. sue? >> okay. morgan, thank you very much. stocks tanking right now. we are off our worst levels but it is not pretty. pretty much a sea of red as you can see.

a triple digit loss now for the dow of 36 points. apple good for about 17 points of the nasdaq 100's huge loss today and jon fort told me blackberry is down more than apple. microsoft has the second most negative impact. the key levels you need to watch for right now. and believe it or not, there are some winners out there. fossil, ppl and iron mountain among them. we're back in two minutes time. mileageplus explorer card. d i have saved $75 in checked bag fees. priority boarding is really important to us. you can just get on the plane and relax. i love to travel, no foreign transaction fees means real savings. we can go to any country and spend money the way we would in the us. when i spend money on this card i can see brazil in my future. i use the explorer card to earn miles in order to go visit my family which means a lot to me. ♪

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welcome back to power lunch. check out shares of the stocks and still down almost 4% on the day. this following yesterday's reports that the software company was in buyout talks with a small group of private equity firms. shares tumbling this month after reporting disappointing third quarter earnings. sue? >> morgan, thank you. let's get headlines in now. rbc capital downgrading yahoo! to sector perform citing a limited upside. auto zone downgraded after the company posted declining sales trends. sketchers with a nice bump after the cfo clarified that independent research data issued yesterday causing a dropoff was misleading saying it failed to reflect sales figures in key accounts like amazon and zappos and the stock is up today. but the overall street as you

know is selling off today. almost all the way across the board. fears about interest rates rising sooner than expected and cross currents. how do you protect yourself? joining us from chicago is jim urio and jim killberg. jim, tell me what you make of the market selloff. having to do with jewish holiday and volume is low or something broader than that? >> i think that's a small part of it. i think to me it seemed like it began in high yield bonds. they started selling off first and then a risk off theme. normally in some risk off themes we'd sell peripheral european bonds but two days ago draghi said he was all in again and you really can't sell off and seems like the risk off nature is -- i don't think this is an enormous deal. i think pullback is healthy. the s&p might have 15 to 20 handles on did downside and i

think smart money if you want to say that is picking what they want abe buying something. >> you know, jeff, why don't you weigh in on that? what struck me is volatility between yesterday and today. we had almost a 200-point move to the upside yesterday. we have downside. are you playing the vix? what are you doing? >> sue, yeah. mutual fund we advise owns volatility and negative correlation and long vix and think of the surge. i disagree with jimmy a little bit but i think it's an initial stages of a correction here. why? u.s. dollar. the rare if i case of the dollar surging. largest rally in 17 years to keep a lid on stocks here. seen the s&p 500 struggle at 2000 and ramifications of quantitative easing and signals to the cover call strategy, that is outperforming the s&p 500 and a couple anomalies going on right here. >> here's why disagree. the dollar rallying is because

draghi and bank of japan is throwing money at this problem. you get no yield in europe and money is flocking to the stock market. we don't export as much with a strong dollar and also when oil continues to go down, people use an average of 400 gallons of oil per head in this country a year. the benefit outweighs the export factor. >> that's a good point. gdp will be hit. going to 86, 87, that could take off a full point off of gdp and significance will hurt u.s. companies. long-term king dollar. short term a month of october tumultuous and digest the move in the u.s. dollar. >> right. absolutely. all right. good discussion. thanks, as well. ty, up to you. >> the things influenced by the value of the dollar. gold falling. prices closer to that important 1200 level. prices closing right now and jackie deangelis is tracking the action at nymex. >> good afternoon. that's right. a stronger dollar today.

the dollar index at an 85 handle pushing gold down early in the morning. getting closer to that 1200 level down about $10 and then seeing this equity selloff happen, the only bright spot in the market really was gold. and it's not even that bright. at this point, we have recouped some of the losses and positive territory over 1220 and traders are saying that normally when you would see action like this in the past, gold would rally a lot more than it has at this point but again back to that stronger dollar, that is putting -- pushing the rest of the metals lower today and that action does seem to be in line with things that we have seen historically but safe haven for gold here? i wouldn't necessarily say that at this point. this is a really difficult trade this year and traders saying this they don't expect to see more out of gold in the coming months. >> jackie, thank you. to phil lebeau for breaking news. >> tyler, given the reports we have done this year regarding ignitions that are not fully functioning or defective, this is an important recall that's

just been announced by chrysler. the company recalling almost 350,000 2008 model vehicles and we'll run down the vehicles in just a little bit. but here's the issue here. the ignition when people are starting the vehicle, it may do one of two things potentially. it could go into the start position and then get caught between the on and the start position and that would, in fact, impact the windshield defroster and the wiper function. however, there is also the possibility with these vehicles that when the key comes back, it could go through the on position and into the accessory position and which as we know from the gm recalls if a vehicle's ignition goes that position, it could cut power to the vehicle and power steering and the airbags and only one minor accident reported with this recall, and again, the 2008 model impacted we're talking about chargers, magnums, chrysler 3000s, jeep commanders and grand cheer keys.

almost 350,000 chryslers being recalled for this potential ignition problem. back to you. >> all right. phil, thank you very much. across the way in chicago to the bond market. rick santelli tracking the action. rick? >> tyler, one would suspect traders are closely monitoring the equity markets today. look at a chart of 10s. wasn't dramatically affected by the poor 7-year auction. we should notice is not able to go through 250. if you open the chart, should we stay at this level? slightly above 250. lowest yield close since the 9th of september and ma traders say if it's spongey, you get confirmation of that by the treasury market later in the day slipping under the all-important 2.5% level. let's look at the dax. a big story today. started to slip into negative territory about 15 minutes before our equity markets opened. didn't have a good finish, obviously. and last but not least, this is the hygt yield.

tyler, sue, back to you. >> thank you very much, rick. appreciate it. the dow down 228 points. having its worst day since july 31st. united health care, caterpillar, intel among the biggest losers today and talking about the key levels to keep an eye on now in the dow and the s&p 500. plus, the market's taking a beating today but there's a sector still riding high. we'll tell you what it is when we come back. my name's louis, and i quit smoking with chantix. i had tried to do it in the past. i hadn't been successful. quitting smoking this time was different because i talked to my doctor and i... i got a prescription for chantix. along with support, chantix (varenicline) is proven to help people quit smoking. it was important to me that chantix was a non-nicotine pill. the fact that it reduced the urge to smoke helped me get that confidence that i could do it. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix.

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welcome back to "power lunch." travel port up around 5%, more than 5%, in the first day of trading on the new york stock exchange. shares of the travel services company opened above the ipo price of $16 a share and that number at the top of the expected range. blackstone backs this company. sue, back to you. >> all right. morgan, thanks. let's look at stocks faring right now. dow jones industrial average off about 228 points. s&p 500 last trade is down 26.

nasdaq composite down 75. russell 2000 down 14. and the transports down 106. so here for our market panel discussion is bob pisani and art cashin with ubs financial services. art, in your notes as we discussed last week, you said you expected this to be an extremely volatile week and so far so good. >> yes. or so bad. >> depending on the market position. what do you think primarily is driving this market today? i mean, because you hear about the terror threats throughout and doesn't seem to be one of the main kind of impetus for the market to move to the downside. >> yeah, no. i think a couple of things. rumor mongers are having a field day today. rumors the russians in the first stages to allow themselves to seize the assets of foreign companies as a kind of rebuttal to the sanctions. then, dallas fed president

fisher speaking in rome cautioned about the increasing risks in the high yield area and drove the high yield etf down and that spilled into the russell. and then there was a rumor around that a hedge fund or some hedge fund portfolios were going to be force bring liquidated either because of a very bad short position that they had to raise money or because of extra exposure into that high yield area. needless to say, this is a very broad selloff. yesterday's rally was narrow and this one is very broad. and what is most amazing and i'm doing this 50 years, there hasn't been an attempt for a bounce. >> i know. normally after europe closes, ben, sometimes -- europe had a bad day today. >> certainly. >> normally we might see the money get over here and we didn't get the bounce. >> the market feels like -- it was funny. chatting yesterday with bob saying you can't buy a

correction. and here we are with a fairly significant move. if i had to pick one place where this market saw its impact, definitely mr. fisher. he not only crushed the high yield market, looking at the intraday charts, the move on the high yield minutes ahead of the s&p's reaction in the future market about 8:30 speaking in rome. coming into our market, that attitude was the fear and terrible month of september. the money managers in the world have underperformed and this is not going to help the situation when you have mr. fisher not only saying they see extreme movements in the high yield market but also handed the accept or the over to mr. draghi saying it's a question to fight super mario and that's where this market is right now. >> really amazing thing is fisher's leaving. you know? he's leaving in april. he's required to step down and instead of going out gracefully, he is getting louder in the commentary. they're getting sharper here.

he moved the high yield market today. >> to be fair, though, there are others who have been on watch for the high yield market for sometime now. >> yes. >> but obviously they don't carry the clout that mr. fisher does. bob, i guess to ben's point about the fact of a number of key money manage earls underperformed. they have been underinvested or underperformed. the bulls would argue and, art, you can weigh in, as well, the bulls argue that means they have to play catch up into the end of the year. >> the underperformance of the average hedge fund and the market is very wide. unusually wide a. number of notes out about that and subscribe to the idea but i think there's very interesting volatility around the russian rumor which is what it is right now. but i think something to this. the russians may be enacting a law to allow a seizure of foreign assets. europe is getting zero growth right now. they don't need to have this escalation go on. tipping them into negative

growth and then recessions could be just enough and i think they reacted so negatively to even just reports that it could be true. >> what levels, art, do you think are key for this market and that the market needs to hold on the close today? >> well, you have taken out the 50-day moving average rather handily and i would guess somewhere around 1963 to 1967 is a band in there. if we get late day selling and they go down through that, tomorrow could be a real problem. this might be setting up into one of those september/october things if that happens. >> yes. things in quotes. we know what those feel like. on the other hand, ben, it is a holy day for the jews around the world and there are some who are saying that volume is not here today so as a result of that, this market selloff is exaggerated. it doesn't feel that way to me. but. >> i think the volume is not

terrible. i understand that sentiment but however there's also an old tenant in the market sell on rosh hashanah. buy on yom kippur. to art's point on where we close, i'll be looking for the buy the dippers mentality. you had the idea of sell on the rosh hashanah last night going in. smart money selling into the highs of the day for a trade coming in today. it's worked out very well. the question is, will the buy the dippers come into this market on the close, not only aid the volume, but aid the support? >> volume is not been light today. volume is average to slightly heavier than normal. >> heavier since i've been here. certainly. thank you so much. appreciate it. ty, up to you. >> the markets taking a beating today. there's a sector, though, still riding high and dominic chu has that story. dom? >> all right. so in today's session, everybody's falling and one part of the market specifically

within transports doing decentury in the month of september and even else is falling. we'll have more on that after the break. as we head there, check out commodities and the trade there because it's having a real impact on the rest of the market about dollars, currencies, commodities. check out what's happening there. guys! you're not gonna believe this! watch this. sam always gives you the good news in person, bad news in email. good news -- fedex has flat rate shipping. it's called fedex one rate. and it's affordable.

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on the ibm cloud, the us open analyzes 41 million data points from 8 years of competition to uncover key insights. data can help show you how to win, no matter what business you're in. today there's a new way to work. and it's made with ibm. i'm bertha coombs at the nasdaq. this is the heart of decline today. the nasdaq 100 etf, qqq, one of the stock that is's really falling today on very heavy volume on a light volume day and that's where we're seeing the big selloff. bear in mind that the nasdaq big cap stocks have been among the best performers so far in the quarter. they're up about 4.5% but with this decline over a few days they're down 1.5% for the month

of september. same story or apple. very strong for apple. quarter to date and running into problems here. of course, a number of woes with the launch of ios 8 and launch of the new apple 6. tyler, back over to you. >> thank you very much, bertha. dow transports down today. take a look. but up 27% over the past year. dominic chu back with the look at rail and road companies that have been riding high. this is a sub sector of the sector. >> an industry group if you will of that sector. transportation stocks taking a hit with the rest of the overall market and up until today showing signs of strength recently herement specifically the railroad companies. since end of august, they have been slowly bidding up shares in many of the bigger names. even with the pullback today, the road and rail industry group is one of the best performing in the s&p this month. talk about union pacific and been a positive performer since the end of august those shares up around 2%.

same goes for other big names, norfolk southern, kansas city southern. with kansas city southern, it is up around 3% in the same time frame and since hitting a low of $88.50, shares valued over 30%. that's a pretty decent sized move, tyler. >> and another part of the ground transportation sector is in the story involving trucking. >> that's right. so we talk, i guess road and rail doesn't make sense unless you talk about the roadside. the trucking and transportation companies in the s&p 500, there's a pure play, ryder system. specializes in truck leasing, rental uses, maintenance services, all those kind of things. nearly $5 billion company and not as good of a month as the rail stocks and look at this. over the course of the past year, this stock's been on a roll we'll call it. up 22% since the start of the

year and up 50% in the last 12 months. analysts slapped an average $101.50 price target for the shares meaning 13% upside believing the target levels and four out of five analysts have a buy or equivalent label on the shares. they're a huge to kuls for investors approaching the holiday shopping season and take a look at this diver intelligence. fed-ex shares up 10% year to date. u.p.s. down nearly 10% year to date. that's an interesting battle to see develop especially given the hiring going on and what's going to happen with volumes for shipping around the holiday shopping system. >> dom, thank you. >> you bet. >> sue? steve ballmer stepped down as ceo of microsoft and stepping up to purchase the los angeles clippers. josh lipton sat down with him and it was a great interview, josh. >> really good season tickets

but if you're steve ballmer with an estimates worth of $23 billion, you just buy the whole team. more from my interview with steve ballmer when "power lunch" continues. whenwork with equity experts who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration.

steve ballmer paid $2 billion to be the owner of the l.a. clippers. how does he plan to lead the team? josh lipton knows. he sat down with microsoft's former ceo to talk about that and more. josh? >> tyler, when he ran microsoft, steve ballmer was known for his passion and emotion so i asked him if he'll bring the same intensity to his new job as owner of the clippers. >> i'm a very positive leader. i'm not -- i mean, you can find a quote or two where i talked about various microsoft competitors. i'm a competitive guy. but mostly, you know, i'm very positive about my guys and what we're doing. i love the microsoft surface. i like the microsoft windows phone. i love the l.a. clippers. yeah, i'm going to be enthusiastic about these things. >> you were at microsoft 30 years. >> almost 34 but when's counting, josh?

i am! >> you are, in fact, a biggest individual shareholder there. let me get your take. how do you judge the role there so far, the performance? >> i'm excited and enthused to have him in the job. he's made a couple big decisions which i think are important. there's work we had to do to rationalize the acquisition. he built on that and took that an extra step. done a big acquisition. he has really come out strong in terms of the cloud and mobile which i think is fantastic. i know he's built an incredible followership and the leadership team. >> steve, are there skill that is you learned as a role of microsoft ceo you think you can bring here as the owner of the clippers? >> be hard core. be passionate. ideas matter. you have to have a strategy for what you want to do and where you're going is as important as sort of the quality of your leadership of the people to get there. see the playing field. understand what's going on. take the time to really learn.

keep coming. keep charging. keep going. you know? >> right. >> there's an expression out of an old movie. relationships are like sharks. they move forward or they die. companies, teams, organizations, you're improving and getting better or you are dying. so yeah. i think there's some things that probably apply to sports, too. >> ballmer told he will be actively involved with the team, keep living in seattle and the team will stay in los angeles. back the you guys. >> he needs to work on the energy a little bit, i would say. mandy has wandered by. >> yeah. literally wandered by. >> how have you been? >> good. and you? thank you. okay. following the market selloff and accelerating in the afternoon in terms of the selloff and all over that and a report on how much u.s. oil prices can fall if we don't export out the excess production and of course the impact on the buck. and a battleground stock that does 'em pli if i a disconnect

in the market. an exciting show. join us after the break. "hello. you can go ahead and put your bag right here." "have a nice flight." ♪ music plays

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all right. just moments ago, we put in a new low of negative 260 on the dow jones industrial average and

the s&p. art cashin saying they need to hold the 1967 mark but it's testing it right now. and the nasdaq composite off almost 2% on the trading session. ty, the yield on the 10-year 2.50%. >> bumpy end to the end of september. >> "street signs" begins now. well, here yesterday, gone today. stocks tumbling on growth turns around the globe. none of the dow 30 higher but what's different one day later? mandy, we have a chart to make you think differently about the sell enough. >> i'm sure it will. we are all over the accelerated market selloff. bertha, bob, rick is all in place. bertha, we start with you where the nasdaq is having the worst day since july. >> yeah. it's a big cap story. earlier in the w