leverage, lower oil prices an even bigger ebola scare. we will try to find answers. >> there is more breaking news. let's get to the beige book. >> thanks very much. the beige book is the collection of anecdotal economic stories from the 12 federal reserve districts put together every month, one of the first reports we get for the prior month. it says economic growth was modest to moderate. and that is really picking up the weak retail sales report we had. sales were down in new york but most retailers are upbeat or optimistic for upcoming season. optimistic for tourism and banking. employment continuing to expand at about the prior pace. that would suggest job growth. wages grew for those in short supply but overall it was modest wage growth and price pressures were subdued.

we are starting to see the first early signs of lower gas prices. it spurred larger vehicle sales and improved real estate traffic in philly and finally it had an overall positive effect on the economy. >> i want to quickly ask you because this is the question on everyone's mind how is this and other data points changing the outlook for the fed? >> there has been a massive reset in the outlook for the fed. if you look for 2015 the bet on where the fed will be at the end of next year it has come down in ways. it had been at 75 basis points over most of the past days. the story here is the fed itself, the average of the forecast of fed members is around 1.2%. a huge gap opening up here between where the fed forecast they would be and where the market thinks they would be. >> thank you very much. let's get back to the markets on

this wild day. all of the gains of 2014 gone in one swoop today. market reporters are covering every angle for you. bob, how do traders see this heading towards the close? >> i think a lot will depend on issues like oil dropping below 80. if it does, it is $80.40 right now. we dropped below lows of the day. we went down to about 1,833 you see where we are right now. s&p is about 9.6% below its interday historic high. we drop down late in the day. we saw the vix over 30. that is the volatility index, first time since 2011. i said the vix gets my attention when it is over 20.

it has had my attention. transports are weak today, not just airlines. not just jet blue. not just concerns on ebola. we are seeing con way and union pacifics and railway weak. retail sales weak today, surprisingly weak. we are seeing nordstrum, kors, tiffany. the apparent demise of the abbvie shire deal. remember something, tech and health care stocks had been big beneficiaries of the potential for tax inversion deals. now that there is pushback from the u.s. government on this that may effect thinking about the way people deal with profits and earnings going forward. >> the one thing i don't think

we have talked about today is the drop in the financial stocks. can we bring up the xlf financial. worst performing. low rates are terrible for these companies. we talk about higher mortgage originations about net interest margin will drop more. >> wells fargo yesterday reported net interest margins 0.03% down from the prior quarter because with low rates they can't charge much on the loans. they still have a base of people they have to pay, depositors they have to pay. there is no room to make profits. >> thank you very much. let's talk about yields and get to rick santelli in chicago. i am looking at germany 0.7% on a ten year german bond, 1.1% on a spanish ten year bond. what are the global markets telling us right now? >> look for places like portugal, spain and italy to catch up to the dynamics of

greece would be my call down the road. here we are at 2.04 on the ten. we have a low yield. there is a big elephant in the room. everybody is talking about very valid points, health issues, deals that went awry. there is this big elephant in the room called global economic horsepower. and this elephant has been bouncing around for many, many quarters now and it has finally gotten the market's attention. retail sales might have been the straw that broke the camel's back. i know there are a lot of stories there but you can't fall far from a basement window. when it comes to equities we are many stories above. that is stocks and bonds. what about oil? that continues to be a huge story. let's get to jackie deangeles

live. >> as bob pointed out before this $80 level is very crucial for oil here. as we saw aggressive selling go to the close yesterday if we start to hit the technical levels we could be headed lower. what is interesting about what the traders are saying usually there is consensus on where prices are going. today diverging opinions all over the place. one trader telling me we moved too far too fast. another trader saying if the equity market continues to decline you will see oil go lower because of the fears of deflation in the market place. he says prices could go down another $5 to around the $75 level. a lot of conflicting opinions about where we go next. the technical is very important here because as we saw yesterday when the machines start getting involved and you start triggering levels then the selling is more aggressive. we could see oil go lower from here. that is generally, i think, what

people think at this point especially when you have a stock market down as much as we are seeing today. now to the nasdaq dipping into correction territory. i am looking at the nasdaq 100 only 4 of the 100 members are higher. >> it has been one of those days. the interesting thing about the nasdaq 100 is when you look at the rest of the major indexes it is the only one that is still positive for the year. not quite in correction territory if you look at the move from its september 19 high, it is down about 9% there. so it is kind of close, but we are seeing a number of traders saying that folks are selling these big cap tech stocks so they can get liquid because they are big liquid names and can move in and out of them. there is large volume when they are trading. big decliners apple not surprising add up apple, google,

intel and microsoft and you are talking about more than half of the down side move in the nasdaq 100 big caps. intel, especially interesting given that it looked like it would open higher today after posting better than expected results after the close but chip stocks, that is where we are really seeing the correction action. chip stocks very much below their technical levels and they are down 14% as a group since the beginning of the month, the beginning of the quarter. that is one of the places where people are really looking for as a source of cash right now. >> thank you very much. so everyone should hopefully be up to date with what is happening in the markets. the question is what should you do with your money. chief analyst with the lindsay group and jim mccorgen ceo of principle global investors. peter, you were saying we have seen this movie before. how does it play out? >> it is called the end of qe.

the first times the markets fell 15% to 20%. brian listed a bunch of factors the animal in the room is a $1 trillion stimulus program is going to 0 this month. to me that is the overriding factor in this weakness. we have seen this movie twice before. >> i hear you, peter. the reason i didn't put it in the open is this. tie it to equities. the trillion dollar program you talked about is for the bond market, specifically the mortgage backed and treasury bond markets. why would this matter to equities? >> because the fed by putting on qe forces people into risk assets and equities are risk assets. that is what created a 30% rally in 2013 off of 5% increase in earnings. and now that qe is over we roll over again which of course, i can scratch my head on that, the fed is talking about another round of qe if this continues. that is the overriding factor in

my opinion for this equity market weakness. >> you are of the belief we should be buying on setbacks. how big of a setback do you think this is likely to turn into? are you already buying now? >> i think one should be buying right now. i don't think this is really about the end of qe. after all that is not new news. we have known about the end of qe for months. the think the news is geopolitical situations have negatives. you have ebola, hedge funds at the beginning of the month positioning with shorts over the earnings season. you have then when that happens and pushes the market down a bit you get some front running by high frequency traders. you have some expectation of orders to close in the etf market for leverage and short etfs. that is all enough to trigger market selling orders. i think it is very technical.

it is not fundamental. i think very clearly for the rational investor should be buying on setbacks in selected stocks. >> i hear you, but let me pushback a little bit. i sent a note to the team and i said greece is the market story to me down 19% over the month. italy, spain, germany, they are not sliding, they are collapsing. these are major collectively a major economy. your thoughts. >> you know, my buy on setbacks is really around the u.s. market and it is biassed towards the smaller mid caps and domestic earnings. i agree that europe is in a difficult situation. you are almost staring at another recession in germany. the eurozone has too much debt and hasn't recapitalized its banks. the eurozone is in a pretty bad way even before you get to sanctions on russia.

i would be selling europe on strength. i hope we have sold some. i would definitely be buying the u.s. on setbacks. >> what do you think is the flip side? we have been outlining a pile negatives. what can stop this from sliding and pull us back up? >> it is lower prices that create valueuation that is attractive. it is easy to say the market is relatively inexpensive when you just slap a standard on forward earnings. if you look at other metrics like market cap to gdp or adjust earnings for peak profit margins the market not extraordinaryarily expensive. that is the back drop that we are seeing. in my opinion you need lower prices to create a more attractive basis to bring out buyers. >> even on big up days two years ago we were still lower priced than we are today. i'm not minimizing the drop we

have seen the last couple of days, but good days two years ago were not as good as the drop. >> back to my qe on and off. when it is on everything looks good. when off things change. qe doesn't create anything new but pulls forward economic activity and stock returns or asset price returns. when it ends you have a big giveback or a hangover. a lot of fluff from last year was not just u.s. but bank of japan and whatever it takes. now we are seeing a lot of the fluff created last year from central banks coming out. one last point, we are not just seeing the end of qe but the market's opinions change of the ability of central bankers to generate growth. look at europe and see what their equity markets are doing in the face of everything that draghi is trying to do. >> thank you very much for

joining us today. the other big story today renewed concern about ebola spreading inside the united states after a second nurse to contract the virus was found to have flown. we have a live report ahead. a sea of red out there. stocks are lower, yields are lower. is your money safe? go ahead and put your bag right here. have a nice flight!

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fears are growing over the possible spread of ebola after a second person inside the united states tested positive for the deadly virus and took a flight two days ago. >> we just got off a briefing with the cdc and secretary for health and human services for the u.s. the patient is being transferred. we know she is ill and clinically stable. 50 other health care workers entered the room of the patient who she was treating and who nina pham was helping to treat. there are three contacts with the second health care worker who are being monitored. we learned she travelled on monday on a flight on frontier airlines from cleveland to dallas. she did have a fever of 99.5

degrees. cdc director saying that didn't meet the 104 degree threshold but she shouldn't have gotten on that plane. they are asking passengers on the flight 1143 from cleveland to dallas on monday to call 1-800-cdc-info in order to be interviewed about potential risk. >> if you're a member of the traveling public and are healthy should you be worried that you may have gotten it by sitting next to someone? the answer is no. because the risk is so low we think there is an extremely low likelihood that anyone who travelled on the plane would have been exposed but we have putting into place extra margins of safety. >> there were 132 travelers on that flight. they are asking them all to call into the cdc. the president has cancelled travel today in order to have a

discussion with cabinet agencies coordinating the ebola response supposed to start later this afternoon. we will bring you anything from that. joining us now dr. ho tez. i have been reading different things. it has been said that patients cannot spread the virus to someone else until they show symptoms. i have read german researchers say otherwise that you can be infectious with no symptoms showing. is that true? >> it is maybe splitting hairs because it doesn't matter. when you are in the early stages of the illness the amount of virus in your body is extremely low. unless you directly contact fluids from the patient you are not going to even pick up the virus. the risk of transmission sitting on an airplane is very low or in direct contact with the patient and early stage is low to begin

with. the people that are getting sick in liberia are health care workers who are in contact with very ill patients who have lots of virus in their body or direct family members who have to take care of people with lots of virus in them or burying people who have recently died from the disease. it is only in the later stages of the illness that you have a lot of virus. that is why we are more concerned about health care workers right now. >> at one point we have frieden saying don't worry there is no need to be concerned t is not contagious. on the other hand they are saying we want to talk to everybody on the plane. i understand to his point an abundance of caution is necessary. is the cdc in your mind doing a good job both trying to protect and combat it and also not trying to spread panic? >> i think they are. it's a good balance that they are achieving.

remember, the one single patient that flew in from liberia and then died from ebola who came into dallas, the cdc together working with the state and county health officials in texas worked and then traced all of the contacts, isolated the contacts and there has not been a single ebola infection acquired in the community. there is a track record there. i think we can look at that and say that is a success story. >> i think the credibility of the cdc is in question here. even the cdc said the right protocols were not put in place. >> i don't think so. there have been bumps in the road. there is not a lot of experience with the ebola virus in the united states and there is some learning going on. again, i think they have been on top of it in terms of community

contacts and the track record speaks for itself. so far no ebola cases. >> thank you very much. appreciate it. the airline sector, as you might imagine also in focus today. >> despite the fact that it was said the likelihood of contracting it by sitting next to somebody at an airline is not that great for early stages of the virus you have to wonder what is happening with investors and how they are handicapping the potential impacts. it is just about in line with the broader market decline. among major carriers taking bigger hits you want to look at names that we all know. take a look at united continental down 5.25%. delta down 3%. american airlines down nearly 4%. southwest 2%. these are major carriers. what investors are in essence doing here is maybe hedging some of the bets and risks on what

happens if there is possibly more of an outbreak of ebola than we already know right now. airlines are where they are manifesting that particular view. certainly a sector to watch not just because of oil prices but because of ebola. fear taking over wall street with the dow plunging sharply. what would you be doing with your money on a day like today? we are minutes away from oil settling for the day. how low will it go? we will take you for the crude close. the all new, head turning cadillac ats coupe. it's irresistible. ♪

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it is one of those days. on a day like today who better to have for advice than jim cramer. you said the september 19 big alibaba ipo could be the top. >> you talk about the notion can a bell really go off and it did.

there was this hoopla and going into october. it just seemed like that everything was as optimistic as could be despite the fact that there were many things that we were not to be optimistic about. i think what we are trying to build in here is the notion that we were too euphoric. and there were a lot of things that turned out to be much more important. it is not just ebola. itt ilooked like we could rally you are now in that moment where you are trying to figure out whether this is much more sars than something we felt in july a little better about and if people do come down with ebola on that plane, i had a check list that i built. many people felt it was way too pessimistic. this is where it doesn't pay to

be as optimistic as you may want to be. >> the timeline is important. at 43 years old i'm looking 20 years out and i want to buy good stocks at lower prices. i don't want stocks to go down. my dad is retiring. i don't want to screw my own family. i like good companies when they are cheaper. >> what am i doing during the day? i am busy writing "mad money." i had to do my fantasy lineup. i do fantasy lineup despite ebola to put it in perspective. >> life does go on. >> i think what has happened here is that we recognize that if the first time in a long time after a really big run that we got too high. the market got too high. i'm doing -- that is my first piece about how shire is a bit like 1989. second piece i'm doing is what

are we thinking about a year from now? sunday evening 17 million people watched "walking dead" which is more than watched the eagles. those 17 million households are thinking about ebola more than they are thinking about this is the time to buy 3 m. >> you mentioned leverage so you are probably getting a lot of margin calls out there. >> that is what i think. who cares about my opinion? >> i care about it because you are right. >> i heard you guys talking about it on squawk on the street. >> i have gotten that call and made that call. >> it doesn't make for a sexy headline. margin calls on wall street. >> i have made them. i had a person who i said you have your house. i need your house. i can't go to my bosses with the amount of money you just lost and say i don't have collateral, send me the keys. i have made that call and have gotten the call. and the call is like this.

if you don't raise $100 million in the next 20 minutes we are going to make you sell everything of which you are saying you are calling the head of a bank who he never forgave me. i am selling you 500,000 shares right now. >> don't go anywhere because we have the oil close. this has been a huge story. let's go get a live look at how oil is settling. >> good afternoon. all eyes on the oil close right now. we are stabilizing as we head into the close. there was a little pandemonium yesterday. bouncing back and forth watching what the equity markets were doing. traders are saying they think if we break below the $80 level that is key and we can see another $5 to the down side. we haven't been below 80 since june 2012. a lot of diverging opinions if we continue to see equities decline then oil prices will go down. the word deflation being tossed around why oil is down.

some people linking the ebola scare to economic growth and consumers being out and about and spending money and then saying if they don't do that because they are worried about ebola we could see oil prices go down on that. a lot of factors in the market place. we have the dollar index at an 85 handle. a lot of traders pointing to that, as well. they are worried about supply concerning looking at opec saying they don't want to cut production. they are going to force the price down to $75. so the u.s. producers really have to start thinking about it. at the same time that could cause fear in the market place and tightness and prices can bounce up from there. watching the prices very closely as we are watching the equity market, as well. >> thank you very much. let's bring input of financial insider also cnbc contributor. thank you for sticking around. we have seen damage technically

and fundamentally you think oil prices go lower. >> we are seeing maybe people stop traveling and flying. once we dropped under 86.14 that put oil in a bear market. i think the 70s are momentarily away as we see stock market selling off crude is going to go down with it. >> how much further? >> i think 75 is on the radar. i think once you see the contract and the stops get elected you can see like yesterday's damage easy $3 move. i think 75 is going to be a breather but the momentum will take us into the future. >> who is leading who? stock market leading oil or oil leading stock market? >> that is a dangerous issue. you have a consistent extreme view of oversupply, under demand. you have anarchy in opec which is a classic bottom in

confidence indicator. i look for sentiment widely shared. what you want to see is this sentiment, the front page of the "wall street journal" this morning, this was the story. that makes the bottom much closer. i think the risk for the market is an event particularly russia whose social mood tracks oil very closely. you see something there and the middle east where oil goes higher and equity markets go lower because of implication to growth. >> we will talk more about that in just a second. thank you very much for your sides of the oil coin. jim, which side are you on? >> i think it goes lower. i had the mr. hamm on yesterday. he thinks it goes lower before higher. number one exporter. he thinks it could go down to 60. i think 60 is extreme. i know there is a lot of

speculation in oil and speculators should be washed out around the $77 level. there are many conspiracy theories going on. did the united states make a deal with saudi arabia? we are pumping a lot of oil. there is no place to put it. refineries are running full out. there is a big oversupply here and internationally right now. >> and i agree with that story about saudi arabia and russia. >> you like it? >> i don't like it. >> it has resonance to it. >> here is what bothers me about it. in our spite of russia, perhaps, if this did happen, some sort of back office deal, let's push putin out and hurt him you know who else we hurt? all the balkan producers. >> 16.50. >> saudi arabia. he is fine. in doing that could also have the chance to smack or wipe out some of the -- i have been up

there, you have been up there. . $60 a barrel. >> they want to do that. they have always done that. they have always crushed us. somehow they are viewed as our friends which i think is ironic. they want to break the price because they know we have a lot of production at $60 that does stop coming online. >> does this put the screws on putin of russia? so much of his power rests on revenues. >> i think this is steady currency. this whole sanction war has been under estimated in itself. remember before the cold war ended you just couldn't get -- you had a lot of days where you were always worried about russia. we don't worry about russia enough. the guy is a total wildcard. he is a maniac. he runs a major country. we act as if this is going to be settled by a chancellor of

germany who decides she is herbert hoover on economics. she has it a little bit backwards about where deflation brought the third -- >> you got to get back to writing "mad money." one thing that gives me some optimism, the amount of cash on corporate balance sheets because they have the ability to raise dividends and buy back more shares. i'm not saying it is good for america. they can tweak their stock price. >> i left here last night leading intel terrific. bank of america, that is important. that is why if you take a look next year at this time presumably cdc has gotten ebola under control. we are going to say why didn't we use the decline in airlines to buy. i'm just not going to -- if i say buy the airlines now and then someone gets sick on that

what is cramer? >> after health scares like swine flu and all of that it has been a good buying opportunity for the airlines. too early in the space. >> i don't feel like it is rick. >> rick? >> santelli? >> no. i gave up on "walking dead." >> 17 million people haven't. >> we might not be buzz feed but we love lists. list of things that need to be in place. >> my list was -- there is a lot of things involving ebola and earnings. >> you are going to show it tonight. don't give it all away. >> i can panic as good as anybody because i have been involved in panics. >> this is not a panic. >> i was involved in the '87 panic. those were panics. >> 2.65% decline for s&p 500 is probably not in the top 50.

the dow has had its 16th worst day today. >> you quickly forget what it is like. you are getting the call right now which is you need $1 billion and now or we sell your shire. >> no one likes the calls. >> look at the price of shire. >> we will get so much more of you tonight. if you want more 6:00 p.m. eastern "mad money." red arrows on wall street today. is your money safe on a day like today? your protection play book coming up. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.

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we want to show you the fear going on in the market out there. let's bring up a chart of the vix and show you. the vix at 31.06, the highest level since november of 2011 kur currently at 27.23. the historical average around 20. it is up by about 20%. volatility soaring over the past week. >> take a look at the two year chart, as well, to give you perspective of just how much the fear gauge has ratcheted up. it has been quite dramatic. in fact, we are back to highest levels since 2011. remember we had a number of 100-point drops in a row. that is a good indication of where the vix is right now. we are all over the wild market. "street signs" is right back after a short break. stick around. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company.

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joining me now kate kelly. without revealing too much of our in the commercial conversation you are now in what we will call as of right now the pasani camp for stocks. explain. >> i spent the first half of the day thinking maybe our dear friend and colleague was overstating the importance of the abbvie-shire deal potentially falling through. i talked to a number of hedge fund traders who tell me the symbolic value cannot be overstated because merger arb is one strategy that worked for a lot of big players at a time when hedge funds continued to under perform the market so the notion that new regulations will halt the activity that people are taking note of it after the implementation is casting the shell. >> the fancy term for buying companies involved in deals.

>> taking advantage of little inefficiencies in the pair of prices. >> kind of like the straw that broke the camel's back. >> that is the term that i heard. it crystallized a lot of concerns in the market by raising considerations about whether this particular source of profits would continue. >> no one wants to get the tap on the shoulder. we were talking about calls coming and the final half hour of trading will be telling. >> obviously, with the momentum on the side of the bears here, it is going to be a big surprise if they end up getting caught on the short side and see the market have that v-shaped bottom like this morning. the people cheering for that rally when we went from down 360 to trying to get back to positive are the ones to get the tap this afternoon if they didn't sell because they needed that bounce and they got it this morning if they were pigs and didn't take it then they are probably being carried out. >> this concurs with something i

am hearing that hedge funds are in liquidation mode. whether it is from calls or general conservetism they want to get out of the positions. >> one to the point and the other day, a couple of weeks ago we were at the new york stock exchange. the day ralph whitworth winding down. it is a winding down of a big fund. i want you to put your onions on the table now, sir. >> okay. >> can we bring up interday chart of the dow. we have made in the last 30 minutes three higher lows. the market bottomed at about 130 and since then we tried to test a new down. we have gone up three times with higher lows. look at the far right side of your screen. i like that price. is there a chance we could end significantly not higher but up

from here? >> there is even the chance that you can end higher. >> that is a lot to make up. >> that is asking a lot out of the market. it is a question of how much of the first 15 minutes was that liquidation selling the tap on the shoulder that mandy mentioned. that is liquidation. they are going to blast people out. that is what the first half hour was today. if the last hour is not that and a lot of people are set up for it to be that then you could stair step higher. >> when it comes to questions of causations i am curious, do you agree with the abbvie-shire thing? some say there is no particularly clear reason. >> it is the con fluence of a lot of factors that we continue to weigh. whenever a big deal breaks up that is going to hurt the markets and then you couple that with ebola and fears that people aren't going to travel or that

it will hurt international commerce and the rest of it. then you have forced selling of funds and bonds as well as crude oil it all plays into it. >> thank you for that. we noticed two seconds ago that the dow moved back above the 16,000 mark. i think we fell below the 16,000 mark for the first time since february 14. >> i like the price action i have seen in the past hour or so. herb greenberg tweeting out he wonders if if big funds buying etfs will realize stock picking is not so bad because your baby will not go out with the bath water if the bath water is rotten. >> that has been one of the stories this year. as the sell off is continuing we are coming off the lows of the day we will bring you protection correction advice from top investors on how to protect your portfolio. how do you beat the number one seed?

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take a look at the intraday chart there on the dow. we're now at 16,044. we're back above the 16,000 mark once again we're coming off the lows of the day at the lows we're down by 46 o points on the dow. let's bring in don sadler with riverfront investment group. thank you very much to both of you for joining us. you believe it or not have said this is one of those moments that you feel it's very, very good to be on tv. >> you do the show a lot. sometime you don't feel like you have a lot to say. there is one of those times where i think you can be amazingly clear in the clarity to me is this is people who are retail investors, who are in long only portfolios, have the luxury players that are short or

short in the market and exiting. if you allow me a quick metaphor, i remember in 2010 whether a house down the street from me sold at a fire sale price because of a bank foreclosure. and that first second did i think for that my house was worth that i had to go out there and fire sale my house for that reason. i think there's people who watch the markets and fear that maybe their portfolio is not worth as much because today prices are down. if you're long term investor, there are unbelievable values here. the best thing you can do for yourself is not get dragged into what is a, you know, volatility -- people are forced sellers. i don't need to be in that street fight. >> on a day like today, is your job more strategist or psychologist? >> it's all of those things and portfolio manager too. we're looking at the market.

we tend to be value investors and we have seen the market come into us. so from our point of view this is the time to go out and look for things. the first thing we do this morning is we go through the macro data. it is very solid. even the global bmi data which is supposed to measure this weakness is relatively strong. as long as fundmentals are better, then there are valuations. 15 times that puts you right about where the market is today. so the market is actually being rational. it's just a better market for somebody who is value oriented to pick stocks. >> kevin, you say you're going out and trolling and looking for things to buy. like what? a lot of babies have been thrown out with the bath water. things looking like good value. >> yeah. okay, so one of the things that we've been mindful of is we're five years into this recovery. the dow, s&p 500 has essentially doubled. the recovery is not in the early

stages anymore. it's getting a little later. when you look at profits, there are a couple different reads. if you look at profits as a pet ofeconomy, data from the income accounts. it's flat enitening out to down. so for us, we're getting more defensive and what we're doing is going through all of the companies pro inspectively and what's in the portfolio and asking if the companies are very good quality companies with a lot of cash behind them that should be able to weather whatever come. eventually some day, not today, but some day we'll go through another recession and we just want to make sure the portfolio is well put together for when that day comes. that's where we're focusing our attention. >> a voice of calm and reason. thank you very much for joining us. >> a little shopping list here for you. >> what is your shopping list? >> can we bring up two stocks. i want to point out j & j. ticker j & j and due ponlt, ticker, dd. because now they're higher.

>> wow. >> why do stocks go up? more buyers than sellers. johnson & johnson, folks, and dupont are higher. >> they make hazmat suits and goggles. so they don't make enough of them maybe to move the needle in terms of share price. but it's worth mentioning that dupont, believe it or not, does make hazmat suits. how much money do you have in your pocket right now? i have $40, $21. could something that small make an impact on something as big as your retirement?

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mandy. >> tell wlau else is higher, best buy. the headline for the retail sales number was a disappointment, actually electronics were up. as can you see, best sbi gaining by over 1%. >> the dow come back almost 200 points off the low. it is going to be a wild last hour of trading. >> it certainly will. stay with us. and welcome to "the closing bell." i'm here in the middle of the new york stock exchange where we continue our coverage of this dramatic selloff today, scott. >> i'm scott waper in. the most volume day day yet. now we're in the final 06 minutes of trading where we've seen the biggest moves in the market. here's where we stand right now. we're off the lows. take a look at how the dow jones industrial average looks right now. down by 1.75%. the dow was down today more than 450 points at its lows. in fact, dow moved 1200 points today