good monday morning. welcome to "worldwide exchange." i'm susan link. >> i'm will ford cross.

vw shares plunges. they halt the sales of certain diesel cars as an investigation is launched into whether it cheated on emissions tests. no longer unhackable. apple admits to a rare attack on some of its most popular apps in china as president xi jinping prepares to meet president obama to discuss cyber security. fed fallout. president john williams says a 2015 rate hike is still in the cards after last week's, quote, close call. we'll be hearing from his colleague james bullard in just under 2 hours. the gamble pays off. alexis tsipras emerges to secure 35% of the vote. let's talk auto shares.

volkswagen nearly 20% dragging the rest of the european auto set below. v w-21% it's now down. porsche, down 22%. renault down 5%. >> let's talk about the accusations. the u.s.e.p.a. accusing vw of fitting half a mill vehicles with these december devices to . it could have a penalty of $18 billion. that comes to 38,000 or so per vehicle. the ceo has been talking about this. >> he's issued an apology. that came yesterday saying that he's called for an external investigation. volkswagen also said it will halt u.s. sales of the some of the affected diesel models. bernstein's equity research team

published a note this morning stating that this is not a usual recall issue and could impact earnings by up to 35 euros per share. as we discussed throughout the show, this is much worse than an accidental scare. >> with the emissions cheating on a lot of these cars, it could affect when the vehicle is being tested. in reality when it goes on the road it emits 40 times when it calculates during the tests. this is not the first incidence where we've seen diesel cars effectively cheating on emissions. in 1988, volvo, renault, they paid claims for detect if i have cheating as well. >> how big of a fine may or may not be weighing on shares. we were called to open 7% lower, we opened 10% lower.

>> also, yeah, we'll see how this really, you know, drags on throughout the rest of the session. let's give you a runout of what else we're also watching for during this trading day. august existing home sales due out at 10:00 a.m. eastern time. they're forecast to have dropped by more than 1% last month after hitting an eight-year high in the month of july. atlanta fed president dennis lockhart is speaking this afternoon and then home builder lennar and software maker red hatch will report earnings as well later on today. >> rsa has shed 1/5 of its value in zurich. shares down 1.17. rsa is down 20.5%. this is after the swiss insurer dropped the bid for its rifle.

zurich says it's no longer able to continue through. it's expecting losses of $275 million from a series of explosions from a container explosion. they've downgraded their ratings on rsa after the announcement. another top story we're watching today involves apple and apple is owning up to a rare cyber attack on its app store forcing it to pull some of its most widely used apps in china. wii chat, ride sharing service dd quide. it says that infected apps were created by developers who used a fake version of its software coding system called x code. it's not sure how it got through the stringent screening. looking at another day of declines on the german dax.

>> this is a bit of a decline. i thought this would weigh on the stocks. i don't think this is apple interfering in the short term though i do think this is a bigger issue for consumers of apple products that affects investors. some consumers will be focused on the chinese app store. they'll be just as concerned. >> this impacts a lot more users because wii chat is a dominant chat service in china. it's also one of the biggest financing arms around. it's the equivalent of facebook in china. it has 500 million users each and every day. d.d. quide has 80% of market share. arguably this affects more people. >> what's worrying about this as well, as you say, it's not the

small apps that might not have as good cyber security software. it's intill freighted from the creation of these apps as opposed to something that's been imposed halfway through. >> very sophisticated. it doesn't directly hack the apps which i found very interesting. ten cent has already come out to say we have a nonhacked version, fully secure version of wii chat back on the app store. >> indeed. something to watch. this breach at apple comes as the u.s. and chien in have been engaged in takes talks on a cyber deal. the agreement could address cyber attacks on utilities, cell phone companies and hospitals. we're going to go to break

here on "worldwide exchange." still to come on the program, a close call. we try to decipher this weekend's fed speak with jpmorgan's jamie dimon right after the break. it's more than a network. it's how you stay connected.

with centurylink as your trusted technology partner, you get an industry leading broadband network and cloud and hosting services. centurylink. your link to what's next.

welcome back. remind you the headlines, volkswagen shares fall sharply after u.s. regulators accuse the

automaker of cheating an emissions test. republican presidential contender carly fiorina receives a 15% boost in the poles after the most recent televised debate. "game of thrones" wins at the emmys after receiving a record breaking 12 awards. >> jon hamm gets his best actor emmy as well. let's check in on the u.s. futures board. the u.s. market session. we are looking for a higher open after the selloff to finish higher thanks to quadruple witching. it tells us we'll be up 6 points. the dow jones industrial should be higher by 66 points. nasdaq should see gains of 23 points and change. fed policy, john williams says timing of a rate hike really defends on the fed's better

understanding of the global economy and its influence on the united states. speaking on saturday williams says he still sees a rate hike sometime this year all the though he declined to say whether october or december is the bether time. meantime, bullard said they paid too much attention to the volatility and the decision to keep rates unchanged. bullard will be on u.s. "squawk box" at 7:00 eastern time. just under, what, an hour's time. two hours' time. that should be interesting. let's talk about the market reactions still. we have a new week of course. joining us around the london desk, john kelly, jpmorgan. i think there's a lot of monday morning quarterbacking on what the fed should have done. this wasn't a surprise to you, right, that they kept rates on hold? >> it's not a surprise. it's a little depressing.

i think definitely they should have raised rates. i agree with jim bullard. they should not base the market decision on market volatility. if you do that, nobody can predict what you will do. this puts into doubt what the first rate hike will be. when they begin to raise rates we don't know if something happens overseas and they stop raising rates. they say they're basing it on the u.s. labor markets. if they're going to get derailed by moving market volatility, it makes it cloudy. >> what happened on friday? we did see a selloff in the u.s. despite the fact that the fed is still basically still at, you know, not at tight levels when it comes to monetary policy. >> there are two things to bear in mind. first is market uncertainty. what the fed managed to do is add a huge serving to markets

because before this they had a clear criteria. now they've changed a number of times. at least it was clear what should trigger a first rate hike. now they've talked about marked volatility, china, commodities. that's a host of things that people have to watch so that adds to uncertainty. the second thing, the first few rate hikes stimulated economic growth. the big problem we have right now is that by keeping rates so low in many ways it's terribly frustrating as an economist to recognize you could speed up economic growth by raising rates and the federal government refused to do it because they feel the economy may be too weak. >> it's hard jest to predict going forward what they're going to do. what does this mean for the u.s. dollar for the rest of, say,

this year. clearly against the euro and yen it lost some ground over the summer. is that now on permanent hold for the rest of the year, the u.s. dollar strength? >> it should make it less likely that the u.s. dollar will strengthen. it means a lower trajectory for u.s. growth. it starves u.s. income. it may slow the u.s. economy a bit. second of all, higher rates should be positive for the dollar. i do want to point out the last three times the fed raised the rates the dollar increased. >> is that what happened to emerging markets over the last two or three months in particular? will they be pleased or uncertain that we're in an uncertain period? >> the knee jerk reaction is to be pleased. i don't think that will hold.

running monetary policy is like running a kindergarten. are you going to run this or are the kids going to run this? if the kids run it, it's going to be chaos. they are increasing and ultimately i think it's negative. >> the major reaction was negative all around the world to the fed decision to hold rates steady. >> it doesn't tell you anything about the global economy but what it does tell you is that markets dislike uncertainty. the federal reserve is one of the principle sources of uncertainty in the world. >> is this kicking the can down the road? is this using china as an excuse because they're so terrified about ending that process of loose policy particularly when they see what's happening in japan and europe and they think we could be tightening where these guys could be loosening further? what does that mean for the u.s. dollar? >> i think they are concerned about the dollar. fair and accurately, central banks around the world including

the united states needs to separate it. there are ways of trying to stabilize the value of the u.s. dollar and prevent it from going up further if they tighten. they can't allow the fear of the u.s. dollar to diswade them. >> let's bow tie this. do you think they have to raise rates this year? >> i think they probably will raise rates in december but it's -- just because i think the u.s. unemployment rate will come down further. it's far too uncertain. i wish they had already gone. david, thank you zblech any time. >> david kelly, chief global strategist at jpmorgan funds. let's talk about uncertainty in the nfl. a great game with green bay quarterback aaron rodgers leading the pablgers on two fourth quarter scoring drives. the packers defense shut down russell wilson and they battled from the 27-17 victory.

the packers were forced to play the final three-quarters without the starting running back eddie lacey. defending nfc champions seahawks not starting off the season well. they're 0-2 with this loss to green bay. do i still have barbecue sauce from the tailgate party? >> you're all good. >> i loved having pork ribs. >> can we make that a monday morning segment. we should. >> we have to rev up the volkswagen gulf and fire up the barbecue in the parking lot. still to come in the program, we have trump's numbers tumbling. is this the beginning of the end for the donald? we'll discuss right after this short break. this is the place. ♪ ♪ their beard salve is made from ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing,

you see what's coming next. you see opportunity. that's what a type e* does. and so it begins. with e*trade's investing insights center, you can spot trends before they become trendy. e*trade. opportunity is everywhere.

(vo) wit runs on optimism.un on? it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world.

the u.s. government faces another shutdown on october the 1st if congress doesn't pass a spending bill by the end of this month. conservative republicans are threatening the move over government funding of planned parenthood and appearing on nbc's "meet the press" this weekend jpmorgan ceo jamie dimon saying the possibility of another shutdown is, quote, bad management. >> democracy is a compromise by nature. so anyone who says my way or the

highway isn't necessarily thinking of the united states of america so i wish people to overcome that kind of stuff. >> dimon says he understands why many of the u.s. presidential candidates are critical of wall street and why it's their punching bag for now. a lot of people got hurt in the financial crisis but banks have admitted their mistakes and are now part of the solution, he says. speaking of the race to the white house, republican presidential contender former h.p.ceo carly fiorina has spiked. she has shot up some 15% on a cnn/orc poll following a strong showing at the second gop debate. democratic front-runner hillary clinton said on cbs's face the nation says she is not worrying about a late entry into the race by joe biden.

this is after a letter was circulated for joe biden to run. tracie joins us this morning. >> reporter: let's talk about carly frein thiorina. donald trump is still number one but he's dropping by 8%. dr. ben carson who was right behind him has a fairly strong number two also saw support drop back after the debate. carly fiorina, just the opposite. the point here is that she started at 3% before the debate barely made it on to that stage. now stands at a much stronger 15%. >> let me ask you, tracy, about i guess some of the quotes and some of the politics this weekend especially with ben carson and the controversy over his -- yeah, his comments on muslim believers. i'm just wondering if that's impacted his popularity so far in the gop race?

>> reporter: well, it certainly could. we don't have any data to suggest that. that poll was taken before his comments. however, what he said yesterday, he was asked about muslims in america and running for president. he said, i don't think we're ready for that. he said, would you support a muslim president in the united states and he said, no, he would not. this is why some groups now who support muslims in this country are asking them to step down from the race. his campaign later corrected saying that he has a lot of respect and he's going to be reaching out to muslim groups and he was trying to emphasize that the country is not ready for that but that he does support freedom of religion. plainly and clearly what he said he does not support someone who is muslim becoming president of the united states. >> tracie, thanks so much. tracie potts in washington, d.c.

interesting to see donald trump's numbers as well. still the leader but starting to slip. i wonder if that's the start of a trend that we might see? so many people still say, the expert commentators, they find it very hard to believe that one of the core insiders won't win this. >> these are early rounds. >> right. >> four years ago things happened to michele bachmann, had strong gop numbers and she faded as the race went on. donald trump, i guess the most interesting part is his numbers go up after every debate. it did after the first one. this time around it hasn't gone up but it hasn't gone down. >> interesting, jeb bush is still there. people said he did relatively well at the last debate. he's still third. everready he called himself. can he carry that energy through. >> carly fiorina, i think she's got the momentum on her side. she does, indeed. let's switch focus and talk about the pope who has met

cuba's revolutionary leader, fidel castro, on sunday. ahead of the meeting they had warned cubans to be aware of the ideals of ideology and the muir of selfishness. let's get the very latest on the migrant crisis. 21,000 people crossed the border into austria over the weekend with the government warning that it would send migrants back to slovenia and croatia. as the rift between european states intensifies, the austrian interior minister has asked them to look beyond. 13 people died off the coast of turkey attempting to meet greece. u.s. secretary of state john kerry looked into the migrant situation. he said the u.s. will increase the number of migrants it takes to 180,000.

he labeled this as a security risk. we'll go to break on "worldwide exchange." in the hot seat, alexis tsipras defies the polls to return as greece's prime minister. we'll bring you the latest reaction live from athens right after this. we'll take a look at how futures are trading before the wall street open. implied open of a positive session.

welcome to "worldwide exchange." i'm susan li. >> i'm willford frost. here are the headlines around the world. v.w. shares plunging. they halt u.s. sales of certain diesel cars as an investigation is launched into whether it cheated on emissions tests. no longer unhackable. apple admits to a rare attack on some of its most popular apps in china as president xi jinping prepares to meet president obama to discuss cyber security. fed fallout. san francisco president john williams says a 2015 rate hike is still on the cards after last week's, quote, close call. we'll be hearing from his colleague james bullard in just under an hour. the gamble pays off. alexis tsipras emerges as the clear winner in the greek

election defying opinion polls to secure 35% of the vote. good monday morning. if you're just tuning in, thanks for joining us on the program. let's check in on markets and how they're fairing ahead of the u.s. open. u.s. futures are telling us we're going to see a positive start to the week so far. the implied open according to the s&p 500 seven points out of the gates. the dow jones industrial pricing at 72 points and the nasdaq should see an advance of 26 points. let's check in on european markets. we had a dismal close to the week last week with german dax now firmly in bear market territory. folks down 20% from the highs. meantime, with the ftse seeing an increase, the dax is in a rally mode from 1%.

the ftse may have also close to rally also by close to 100%. insurer rsa, take a look at this, 20% down trading at the bottom of the stock. 600 after zurich insurance this morning said it's terminating its bid from the british firm. they're abandoning the 5.6 billion pound takeover offer. here's the reason. vw, volkswagen, the stock is being pummelled sold down 20%. under significant scrutiny after vw faces an investigation into whether it cheated on u.s. emissions tests. it has suspended the sale for certain diesel models. let's check in on apple shares that trade over in germany. apple in focus. we're not seeing much movement on the german list of stocks despite the first major cyber attack on the firm which has

targeted several of the most used apps in china. now let's check in on asia as well since we also had a topsy-turvy session over on the asia pacific. no trade because they're closed on thursday due to the respect of the aged. one more pronounced that i want to point out. not china. yes, we do see gains. australia, down 2%. this is the second worst day of the year. will? >> susan, thanks very much. let's get further news on the week elections. the syriza defied the polls. clear victory for alexis tsipras. julia is live in athens for us covering the story over the weekend. julia. >> that new government could be sworn in as early as tomorrow. as you quite rightly said, the

polls underestimating alexis tsipras. let's get a comment from the syriza party. thank you for joining us. a bold message from the greek people to alexis tsipras. >> we are here for the four year government. hope we succeed. >> reporter: a know a lot of people would have preferred a coalition with more centrist parties. why have you gone for the independent greeks again? >> well, i think judging by the result of the previous government although there are huge political issues, at the end of the day it was a very good government. we did not have any serious proble problems so we were partners and the greek people voted for this

partnership. >> reporter: to push your point, actually, most of the tensions were within the syriza party itself. now the left faction is gone. people are now talking about faction 53, these 53 mps that are already creating some kind of tensions, concerns about whether or not they'll vote for some of the measures. is alexis tsipras going to be able to control that? >> definitely yes because the finance minister like a lot of u.s. chief negotiators in our country. i don't think it will be any problem. it's much more coherent and we have a strong mandate so we stick with the mandate. >> there's also been suggestion that you're going to set up a separate ministry to deal with the fed bailout. is that one of the plans going forward? do you think that's going to be a good way to take it will and to adhere to the plan?

>> it's been going on but we'll wait and see tomorrow when the final decisions will be made. >> this is going to be incredibly tough two to three months. there's been incredible front loading of this program. a carrot and stick approach to unlock talks over capitalizations of the debt. how are you going to get through the next two to three months? are you going to have to rely at times, do you think, on the opposition party to push the measures through? >> i think because of the fre fresh mandate, we all know it's a very front load program. we have to get through 30, 40% of the memorandum and watch the party. i think it will go on. there will be no problem. >> when this government is sworn in, what's the top priority?

>> priorities are the ability, the economy. now we have a chance to go on with the reforms that we have been always all along been looking for. we want simple exchanges tomorrow morning and sticking to our past, which is get the economy back on track. >> is alexis tsipras and the syriza party committed to this bailout program? >> i think yes. tsipras made the decision back in july. it was his own initiative. electorate said he did quite well so here we are. >> thank you so much. the former economy minister speaking to us, guys. back to you. >> julia, thank you so much. in athens. it wasn't as close of a call going into the weekend, was it? >> 35%. now let's see if the emmy voting was as close. it was a big night at least for

hbo at the emmys. the cable network picking up top honors for "game of thrones" for best drama and peter. "veep" winning while olive kit trimming was named top mini series. go around as john draper, jon hamm. it only took six seasons. i'm a big "madman" fan, you're not. >> yeah. >> it took six seasons. maybe it's tokenism. >> i watched a bit of season one. >> the fact that it's so high shows i'm not with it. >> highly stylized. still to come on the program, apple has credited itself on strict security measures designed to protect

content in its app store but now it appears hackers compromised these fire walls infecting many popular apps used in china.

i want to show you the charts forego pro. that's the video camera maker, the action video camera maker

because, yes, the stock is already down some 40% over the last quarter. we're trading at what, $35 and change. barron's says we could fall another 25%. they're citing increased competition. for instance, apple could be making their own action video a camera. there are reports that apple might be looking to buy go pro outright. we do have some analysts including vertical saying they would ascribe zero% probability of that happening. now go pro itself not just facing competition from apple but what about the likes of, oh xiaome which makes its own action camera. they're selling their action camera for $63 each. that's the entry level. go pro, the hero, starts at 130 u.s. dollars. >> right. it does seem quite expensive. such a darling like a year or so ago where it was a first mover in this space but definitely facing more competition. that's one to watch at the open.

another one to watch is also apple which is admitting its app store has been hit by a rare attack by malicious software forcing it too remove some of its apps. >> the aid mission could be a black eye for apple which has made much of its security record compared to goioglegoogle. on sunday apple confirmed that several popular chinese apps were created using developer tools infected with the malicious software. this includes ten cents, mobile, wii chat. apple has removed the fake apps. the company hasn't said what users should do to determine whether their apps are determined. it says ios is designed to be reliable and secure from the moment you turn on your device.

palo alto network says hundreds and millions of users of the chinese apps are at risk for having their data exposed. it was downloaded from a server in china that the developers may have used because it was faster than apple's servers. checking apple in europe, shares are up just about a half a percent. and if you were hoping to spend your sunday on the coach watching your favorite netflix shows, you were likely out of luck. amazon services suffered an outage for five hours. affected sites included netflix, tinder, read it. the outage was likely caused by data issues at its facility. thank you very much for that. let's take a look now at some of

the other top stories today. another lockout period expires for alibaba. 1.6 billion shares for sale by insiders and shareholders. that's roughly 64% of the total shares outstanding. saturday marks the one year anniversary. gosh, how time flies. the stock has struggled since last november falling more than 45% since then as you can see. it's down around about 30% since the ipo. it was down a little bit on friday. >> you know, my argument that time flies when you're having fun, and we're always having fun, aren't we? >> of course. >> chip maker dialogue semiconductor strikes a deal to buy atmel for $4.6 million in cash and stock. dialogue is based in the u.k. but it's listed in germany will pay 10.22 for u.s. based atmel.

that's a 43% premium to friday's closing price. dialog is specializing in power management. it has smart phones being allowed to control others devices. let's check in on the stock prices. a trade in germany. dialog down 18.5% on the back of the news. investors don't like this deal. let's move on. a pair of big u.s. analysts will merge. the companies own more than 36,000 rental homes valued at $8 billion. on friday star would close at 2275. it was off two cents that day.

these are your headlines on this monday morning. vw shares are falling sharply after u.s. regulators accuse the automaker of cheating on emissions tests. republican presidential contender carly fiorina gets a boost in the polls. and "game of thrones" cleans up at the emmys winning a record breaking 12 awards. it's more than the cloud. it's multi-layered security and flexibility. with centurylink you get advanced technology solutions. including cloud and hosting services - all from a trusted it partner. centurylink. your link to what's next. which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight! and enjoy a good cliffhanger while you hang from a...

why am i yelling? the revolution will not only be televised. the revolution will be mobilized. introducing the all in one plan. only from directv and at&t.

welcome back. let's have a look at european markets. this follows a slightly negative open. the ftse 100 up half a percent. germany is down by half a percent. why? because of the vw emissions scandal. that's weighed across the board

on automakers, the likes of diamond and bmw as well. it's shares of voeks wag done down nearly 20% as you can see dragging down the rest of the sector. renault down some 5%. >> yeah. so we've been reading a lot of these analyst's notes saying this is not your usual recall issue because it might stem deeper, right? what does it say about corporate governance and the mindset over at vw. the u.s. environmental protection agency has accused volkswagen of fitting half a million cars with these devices to cheat on emission tests. it says that the german car maker could face a penalty if you calculate it, 38,000 dollars per vehicle. that comes up to $18 billion. $18 billion is a lot of money. people say we're probably going to be in the billions but not that much. >> yeah, we'll have to wait and see, won't we? a lot of uncertainty.

the ceo has issued an apology on sunday saying he's called for an external investigation. volkswagen says it will halt u.s. sales of some of the affected diesel models. bernstein's team stating that this is not a usual recall issue and could impact earnings by up to 35 euros per share. as we said at the top, this does seem like a much more complicated issue than in the past. it seems like there was not just knowledge of it but intention behind it. that's why people are so negative. >> intent, that's a very good word to use because apparently these cars that were part of these emission tests were actually fitted with software that could detect if the car was actually being tested and then when they actually were back on the road -- once on the road they emitted 40 times of the legal emissions. if you want to look at precedent, this is not the first time we've seen a recall based

on diesel engines. in 1988, renault, navstar, they paid claims on defective diesel engines as well. >> exactly. whether that fine will be that size, biggest one, we don't know. weighing on shares of volkswagen. that means the dax are in the red. >> let's take a look at u.s. futures because it was a pretty dismal session to end it all last week on friday. second highest buying day. the s&p 500, only going to see a bit of recovery. maybe up close to 8 points. dow jones industrials pricing in 72 points. the nasdaq looking at 26 points and change. wolf? >> let's talk about the feds. james bullard will be on "squawk box" today for a full hour starting at 7:00 a.m.

he said over the weekend the u.s. central bank paid too much attention to the market. one not to miss. another one not to miss is our current interview with mark sebastian joining us live from chicago. he's founder of option pith.com. mark, a very good morning to you. thanks for joining us. clearly we had a negative reaction off friday. so they're reacting more to the outlook for global growth than the fact that we did not tighten monetary policy. is that reaction correct? >> we've lost mark there. we'll try and get him back. susan, we have discussed this in detail of course on friday's show, today's show. i'm interested to see that we're called to open higher for u.s. equities today. given that we were off on friday. >> a bit of recovery, of course. people are trying to figure out what is happening when you have a dovish fed.

let's get back i think we have the cameras back up and the lines are okay once again. mark, is that right, can you hear us? >> i hear ya. >> give us your take, mark. the reaction we saw on friday, was that to be expected given the fed did not raise rates? >> well, i think it's a combination of really global growth, which is concerning to the overall market, but i think the other concern is is the fed losing zploel is the bernanke put on. do we trust the fed? if you look at all the fed governors talking, is that really what we need? we've got all these governors saying, hey, we might raise rates, they come out of the meeting saying, oh, wait, we're not. i any financial markets have lost confidence in the fed to really understand what's going on in world markets. they should have been saying three months ago they're not going to raise rates because the world raised rates by entering

in qe across the board except here. so i think there's a confidence issue. for a brief second it looked like we were going to brake out of the market volatility and malaise we've been in for the last month. it looks like that's not going to happen. would he have another four to six weeks of real volatility with multiple 1 and 2% moves a day because really we're still trying to figure out exactly what is going on in the fed's head because we're not sure they know what's going on. >> john williams, san francisco fed president, to him he still thinks that there will be a rate hike sometime this year. whether it's october, december, your bets at options pit? >> not a chance. i don't see why they need to do it. growth isn't that rate.

the global economy is not that awesome either. there's all sorts of reasons for them not to. this indecision i think is a huge cause of volatility. the fed is supposed to in many ways bring market calmness or at least some sort of regulation and confidence to the market. i think fed waffling is a huge mistake. i wish these guys would talk less and meet more and analyze the globe more. all this talking is throwing markets for a loop and i'd like to see them just kind of clam up. >> mark, thanks so much for joining us. we have to leave it there. mark sebastian, founder of option pit.com. time flies when you're having fun, susan. >> too much fun. >> monday is over for us here in london. we'll throw you over state side for "squawk box." thank you so much for watching. ooñóokñ.??????ó

good morning. attention, janet yellen and company. explain yourself please. the global market is looking for clarity. fed heads are breaking their silence today including jim bullard right here on our set for two hours. plus, a developing story. u.s. authorities are accusing volkswagen of falsifying testing. they could face penalties up to $18 billion. a warning from wall street why jpmorgan ceo jamie dimon why they want washington to know another washington shutdown is bad management.

it's monday, september 21st, 2015 and "squawk box" is up. live from new york where business never sleeps, this is "squawk box." good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe conce kernen and ross sore kick. "game of thrones" won 12 emmy awards including best drama. and a special moment at the end of the night when tracy morgan walked out to present the award. this was his first return to the stage. we will bring you more of the emmy highlights just a little bit later this morning. first, let's get you caught up to speed with where the markets stand this morning. last friday you saw a selloff after the fed decided not to raise rates. this morning there are green