welcome. it's 5:00 a.m. on the east coast, it could be a rough day for your money and investments no five at 5:00 today, we're following three major news stories for you. a trade war with china getting closer the u.s. threatening to slap $5 billion of new tariffs on chinese imports. less than an hour ago china firi firing back announcing $50 billion in its own new tariffs on u.s.-made products. >> when the china retaliation happened less than an hour ago,

futures took a turn down we are now lower by 400 points on the implied open. and a scary story on the west coast. an investigation unfolding at youtube's headquarters in california following the shooting there late yesterday. adidi roy is out west for you. it's wednesday, april 4th. "worldwide exchange" begins now. good morning welcome from wherever in the world you may be watching. it will be a busy day and another one dominated by trade, tariffs and a stock selloff. beijing responding sharply after the u.s. threatening 50 billion in tariffs, and then china announcing 50 billion in its own

tariffs against the united states we were down about 100 points implied open not bad. when the retaliation hit the tape, we saw a 300-point plunge in the u.s. futures. that is where we are now the dow's imply open down 420 points let's get to eunice yoon live in beijing. >> right now the finance ministry and commerce ministry are holding a press briefing to talk about the state of affairs wleen the u. between the u.s. and china earlier today the vice finance minister told me china doesn't want to see a trade war but it also will not step down. this is what he had to say >> china will not yield to the

outside pressure we hope based on mutual respect we can find a way to solve the problem. >> this is a $50 billion package, so it's tariffs on all of these types of goods. 106 items, 25% tariffs, some of the goods are things we've talked about in the past, beef, autos, aircrafts and soybeans. i asked about soybeans in particular because china needs american soybeans and buys so much of it he said that's true that china does have a good relationship with american farmers and hopes to continue to have a good relationship with american farmers, but at the end of the day china is always buy from

someplace else i also asked him about a question that's been lingering in the markets, in the bond markets on whether or not china would consider scaling back on u.s. treasuries as a way to retaliate. he quoted the premiere here, suggesting that it was not an option, at least not for now this is what he had to say >> let's be very clear, we have basically three criteria number one keep our investment with safety. that's the top priority. second one is diversity of our investment in the global market based on market principles number three, of course investment should get some return, financial return also has a criteria >> brian, i think what was interesting is how much he emphasized that china wanted to protect its assets when it comes

to investing in treasuries so it really seems like that is not on the table yet at the same time he was very, very stern about china's reaction and said china will continue to retaliate if it's necessary. >> we need to be clear, correct, these right now are proposed tariffs by both nations. not tariffs that will be implemented tomorrow, that this may be a ploy to bring both sides to a negotiating table >> and that is -- he definitely said he wanted the trump administration to come to the table and to be able to have discussions. but he said to me right from the start that he felt that -- a lot of chinese officials felt that the trump administration was not hearing the chinese. the chinese have been pushing for discussions. but that they feel a bit shut out by the trump administration and that those discussions are not going anywhere

in the meantime as the trump administration hits china with tariffs, he says china will do the same thing >> eunice yoon, we'll see you in a bit. >> we are seeing big market moves around the globe kate rogers has more on the market moves and your money. >> u.s. futures are down big on the back of that announcement. the dow is pointing to a 430-point drop at the open in europe, all the major indices are in the red the dax is down more than 1% the yuan also falling hard against the dollar we're seeing a big reaction from the u.s. automakers about those tariffs. ford, gm and fiat down big we are seeing big moves in soft commodities as well. these products could get hit the hardest if we end up in a trade war. soybean futures down 3%.

corn futures are lower by 3% also back over to you >> kate rogers, thank you very much there are companies that you will need to watch today this is not a complete list, you have to keep in mind as we noted that these are merely proposed tariffs. nothing has been implemented yet. there's a time for a public comment. it will be mid-may before anything would be implemented according to the u.s.'s own timeline and the documents that the trump administration send out last night based on what we know and a skimming of that list, some companies that you would need to watch, bunge, the largest soybeanmaker in the united states, based in white plains, new york also the automakers. china also has a tax on imported cars this would be in addition to that general motors and ford are names to watch when it comes to aircraft and engines, watch ge. perhaps united technologies, perhaps boeing and many chemical ingredients,

those types of products, there's numerous different types of products listed on this sheet. when you go through the list of proposed products in the tariffs, some of the names are some of the products you use the dow is down 430 points right now. yesterday we had a move up on the dow jones. this would wipe that out this would put the dow back fairly well below 10% from its 52-week high all three major indices would be lower, including the nasdaq for the year this does not include what we are seeing in the continued fight between amazon and the trump administration amazon.com, its own story. we'll have more on the proposed negotiations between amazon and the post office later on there's a lot going on very early, 5:08 on the east coast. we'll take a short break

back with more on "worldwide exchange" on tariffs, on trump, on amazon and the market moves we're seeing everywhere. don't go anywhere. racing isn't the only and with godaddy, i'm making my ideas real. with godaddy you can get a website to sell online. and it will look good. i made my own way. now it's time to make yours. ♪ everything is working just like it should ♪ hey, what are you guys doing here? we're voya. we stay with you to and through retirement. so you'll still be here to help me make smart choices?

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the s&p 500 as well. this is on the back of the proposed tariffs that china announced about 90 minutes ago we were down 100 points on the futures. as soon as the headlines crossed on the tape, we lost another 300 points in the snap of a finger there's the exchange rate. that's primarily fixed we won't see a big move in the u.s. dollar or the renminbi. joining us now is the head of global strategy at jpmorgan asset management vincent, when we asked you to be on yesterday we did not have the level of the trade fight that we have right now i knows there not a lot of time to analyze it, with proposed tariffs going both ways, does that change the tacalculus on h you look at the markets? >> it's a tit-for-tat strategy china mentioned that it would

retaliate with similar measures than proposed by the u.s i have the impression that it is still a way of negotiating or responding to the tough lines set by the u.s. in terms of increasing the tariff. i hope at this stage that we will not see a full blown trade war. this is in the interest of nobody, nor the u.s. or even the u.s. voters which buys a lot of chinese goods in the u.s., nor in the interest of china we will see in the coming weeks negotiating evolve the negotiations have not really yet started. everybody tried to put the argument forward we have seen similar talks back when trump was elected he was tough on china. since then he's toned down his

rhetoric with two trade agreements signed between china and the u.s. i would like to say that to date chinese chicken can be sold in the u.s. chinese -- u.s. rating agencies can also follow chinese corporates so it's too early to really come to the conclusion that it will fully derail global financial markets. but it is usually a dangerous game >> are you comforted by the fact that the european markets, where you are, are not getting hit that hard? we're seeing the uk down about 0.4% germany down just over 1%. it's not an all-out indiscriminate selling situation. does that provide you with a measure of comfort about how the markets in europe may hold on and hold up if this tough trade talk continues >> not really. let's be clear, we remain quite

positive on equity markets generally speaking in the u.s. and europe despite the discussion around trade wars and the proposals to increase tariffs in the u.s. and china. this is weighing on investor sentiment in europe and in the u.s. probably a bit more in the u.s. because you have to add other issues on the tech sector for a few weeks. that's probably why the u.s. has been hit slightly more recently than the european market but it is a negative story for global financial markets we need to hope that commonsense will triumph at some point in the coming weeks i'm convinced that will be the case but if we have a full blown trade war, this would change the way we perceive markets for the coming weeks and coming months

we're not there yet but we need to reassure markets that it will stop at some point i still believe china has already done impartially its homework when you look at the gentleman trump was blaming when he was elected, the level of renminbi already increased versus the dollar china has had reform, especially in the steel and aluminum market where they closed a lot of production plants and raised the yearly steel production. so i still believe there are ways to address maybe the concerns raised by the u.s >> appreciate it we'll see you again soon on "worldwide exchange. >> thank you outside of the world of tariffs, we're following a story involving one of the most well known executives in the world. wpp admitting it appointed an

independent counsel to probe into allegations of misconduct by sir martin sorrell. the ad agency's board is looking at whether sorrell misused company assets the amounts involved are not material and in a statement sorrell denies wrongdoing. however he does recognize the company has to investigate sorrell has been at the helm of wpp since 1986 when he trained the little known maker of wire and plastic carts into a global advertising giant. "worldwide exchange" will be right back the futures indicating a drop of 400 points on fears of an all-out trade war on u.s. and china. we're back after this.

we are following new developments out of san bruno, california a woman opening fire at youtube's headquarters yesterday wounding three people before taking her adidi roy has the latest on this story. >> reporter: things are quiet here on the youtube campus the crime scene tape is still up and the area in front of the headquarters is still cordoned off. the suspect is 39-year-old nasim aghdam she is believed to have last resided in san diego or southern california they believe this was a domestic

related shooting authorities say she shot and injured at least three people before turning the .9 millimeter gun on herself during the active shooter incident, police swarmed the area, chaos erupted along with gunfire. >> you just hear ten in a row, single fires next thing i know, a couple minutes later i'm hearing sirens going towards youtube. i take my car, i parked it to see what was happening next thing you know, got s.w.a.t. teams coming in everybody is being escorted out. >> news choppers above captured people being evacuated from buildings with their hands up in the air, being frisked as far as the victim, we know one man, a 36-year-old man is in critical condition at the hospital a 32-year-old woman remains in serious condition. and a 27-year-old woman is in fair condition we do expect updates later this morning on their conditions as well as new details from police.

brian, back to you some scary moments here yesterday. >> certainly was adidi roy out west, we appreciate it. thank you very much. >> there's a lot more to do on "worldwide exchange. as we inch closer to an all-out trade war with china, the u.s. proposing 50 billion in tariffs on chinese products. china striking back. s&p futudown, and the dow down t 400 points trump also bashing amazon for its postal service pack. we'll break down those pressures for amazon and t pheost office and maybe the entire market. back after this. prestige creams not living up to the hype? olay regenerist shatters the competition.

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welt welcome back to "worldwide exchange. futures are deeply in the red. they've been losing steam all morning. they dropped about 300 points in a matter of minutes after word came out that china was proposing to retaliate with its own $50 billion in tariffs on u.s. imported items. we are down about 450 points on the dow. more on that in a moment let's check some of the other headlines. phillip mena in new york with more >> four military service members are presumed dead after a marine helicopter crashed in central

california the marine corps says the crash involved a ch-53e super stallion, one of the biggest choppers the incident is under investigation. the names of the victims are being withheld pending family notification. today marks 50 years since the assassination of dr. martin luther king jr tens of thousands are expected to descend on the spot where dr. king was assassinated, now part of the national civil rights museum in memphis. and real madrid's star forward christiano renaldo had this unbelievable goal timing this jump perfectly to connect with the high cross. the bicycle kick freezing the goalie as it hit the back of the net. fan there's went nuts as real madrid went on to win 3-0. the most impressive thing about all of this, he got the standing ovation on the road. that was a road game and he got that >> there's unconfirmed rumors he

changed his hairstyle at half time, but that's unconfirmed much more coming up on "worldwide exchange. futures deeply in the red. coming up next half hour, we'll bring you more on the proposed tariffs going both ways as we inch closer to a possible trade war, and also more on the war of words between president trump, jeff bezos and amazon.com. 'rba a busy day. wee ck with more on "wex" after this

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. china threatening $50 billion in retaliatory tariffs against the united states. we're live in beijing with more on the reaction. u.s. futures deep in the red on the back of those proposed tariffs. we could open down more than 450 points on the dow unless things turn around. futures are sinking now. and it is trump versus amazon round two how much further can the war of words go with the president versus the world's richest man we will find out this wednesday, april 4th. you're watching "worldwide exchange". welcome back thank you for being with us on a busy wednesday morning i'm brian sullivan let's get now to that breaking news out of china. bay sing eijing responding afte u.s. threatening to slap $50 billion on tariffs on chinese imports and china announcing 50

billion of its own retaliatory tariffs against the u.s. u.s. equity futures are reacting sharply to the news. the moment those headlines crossed, the dow lost about 300 points on those futures. eunice yoon is back with us in beijing with more as we continue to see really what is a -- i don't want to call it a tit-for-tat, but it's certainly if you do this, we'll do that. right now they're only proposals but things are heating up. >> that's right. right now they are only proposals. they said -- the chinese said there will be a commentary period and also they're going to move ahead with the tariffs based on the action of the united states. and i was earlier speaking with the vice finance minister who said that for the past two months, the reason i would thwhy acted so swiftly to the u.s.'s move with the 50 billion tariffs because he said they've been speaking to the u.s. for the

past two months warning them over an over not to act based on section 301 of the investigation into intellectual property rights practices of the chinese. he said they were begging the u.s. that if they did move ahead with these results that the chinese would see this as an unforgivable act so he said that that was the reason why they had to move ahead with such a large package that was of equal force. when you mention tit-for-tat, aircraft are also on that list i asked him specifically about it he said we have a good relationship with boeing, and that we believe that boeing works very hard in china we appreciate them he said the reason they chose aircraft is because the u.s. put chinese aircraft on their list so he said that currently is the

way that chinese are approaching this situation because they want to really rattle the trump administration and get them to what the vice minister says is to come back to constructive talks so the relationship can get back on track. >> when you look at the list of proposed items and products, it's long on both sides. you make an important point which is we're seeing many of the same products -- for example, steel products. those are some things that the u.s. imposed tariffs on or proposed tariffs on. now china is doing the same thing imposing tariffs on steel and other rolled types of steel and metal products on u.s. made goods. it's not exactly analogous, but very similar >> yeah, absolutely. i think that's the approach now that the chinese are taking. but i thought what was also interesting, i asked him specifically about what the motives were for the trump administration, that the trump administration had said that the

reason behind this large package of tariffs was because they wanted to push china to change its intellectual property rights practices. and he said that china is always trying to improve its intellectual property. that they are wanting to become a more innovative society, so those efforts are being made but at the end of the day china is not going to be pressured into doing something, especially publicly, in order to say change their intellectual property rights practices or anything else over and over he kept telling me that the chinese cannot be pressured, will not be pressured. he went into a bit of a history lesson with me as well saying since the founding of the republic modern china never succumb to pressure from the outside. just a bit of context here, we are in a situation president xi jinping is building himself up

as a strong leader in this nation he wants to be seen as strong by the public here as well as project an image of strength and a rise of china outside of the nation so xi jinping can't be seen as kowtowing or looking weak in front of the americans or anyone else so i found that striking when speaking with the vice finance minister that he repeated to me over and over that china will not be seen as pressuring -- as being pressured by the americans. >> retaliatory tariffs here or proposed tariffs we need to highlight nothing that been implemented. right now everything is just a proposal thank you very much. we are seeing big market reaction here in futures and around the world to the threat of a growing trade war with china. we are now indicated open down on the dow by 460 points we were down about 100 on the

futures, mostly on the continued war of words between amazon and jeff bezos and the white house, but as soon as the tariff retaliation hit the tape, we brop dropped 300 points in a matter of moments in europe, germany, the biggest exporter and biggest economy in europe, down 1.4%. more of a muted reaction in the uk and in france uk down 0.4% france down 0.6% perhaps right now many investors are seeing the european markets as a bit of a haven against what we are seeing here the chinese yuan falling a bit against the u.s. dollar. remember it is a fixed rate. so we won't see a huge move there. we're also seeing a reaction in the early trade for the companies seen as being hit the hardest by any tariffs if they are implemented. as you might imagine, with an already steep tax on imported u.s. autos and now proposed

tariffs, gm, ford and fiat chrysler stock are moving big in the premarket. ford getting hit the hardest it is down 4%. general motors down under 4% fiat chrysler is down 2.5% the market punishing u.s. automakers on these headlines. we are also seeing big moves in so-called soft commodities these are other products that could get hit the hardest based on the list of proposed tariffs that we have seen. primarily soybean futures. do not laugh, soybean a multibillion dollar industry and the largest company in the world is based around the new york area, bunge, b.e. is the

ticker corn is also getting hard. coming up we'll see you a few other companies that might get hit. everything is fluid in the morning. we're seeing a long list of proposed items we'll make a list of companies you need to watch today. joining us now is jury remembiir your reaction to the headlines and the early market reaction in the states >> yes good morning so clearly this is a major headwind not necessarily for earnings or stock prices though stock prices are going down now, but it's a valuation headwind this is the most important thing to understand the regime we're in now in terms of the markets we went straight up for two years against record low

volatility, now going sideways volatility spiked. as the market cycle segues from mid cycle expansion to late cycle, you have the fed in play, tariffs and protectionist trade policies valuations had gotten high a few months ago the forward pe was 19.4. the good news is with earnings booming, q1 earnings estimates, the season will get reported starting next week, is calling for about 17% earnings growth. with that valuation, the markets can reset without doing too much price taj. the f damage. if the market goes down another 100 points or so, we'll have a

15 handle on the pe, that's a benign reset even though there is downward price action i'm heartened by that juxtaposition of earnings versus valuation. >> do you believe the market reaction we're seeing now, it's early obviously, is more emotional than rational? >> we always have to see where the market closes as opposed to opens. many times we've seen the futures in the preopen are all over the place this is a negative salvo in this trade situation. we'll see where it closes. there are some lines in the sand here the 200-day moving average we all know about that's at about 2580 or so the old low from february was 2533

so we'll see how we close. not even on a daily basis, but at the end of the week we're in an environment where the market is not going to be able to make a lot of headway just because we're in a different regime if knock else, you know, lowering our expectations and being patient here is probably a good strategy. >> i will be colloquial and say 50 billion in proposed tariffs is not everything but it's not nothing either i wonder ftd market reif the man from an earnings perspective, i wonder if we'll see a hit in earnings where the market reacts or if this is more a passion than an impact on corporate earnings 50 billion is a lot of money between you and i but in corporate america not the end of the world. >> exactly it will be interesting to see how the first quarter earnings

season pans out. expectations are 17% growth for the second quarter, these are the first quarters after the tax cut. from what i'm seeing, it's been a bullish story earnings-wise. companies are definitely feeling the tailwinds from the tax cut if the q1 numbers end up being correct, that will boost the market and offset negative headlines. >> do you believe that earnings -- sounds like you don't believe earnings will be hurt to the level that the market is reacting now there are specific companies that we are trying to highlight. is there any upside to this? any positive or is this 100% net negative story on the trade side >> you know, we'll have to see where the issue settles. if this is part of an negotiation, which certainly a lot of people think it is, and they find some middle ground and

both sides get to declare victory basically then maybe it's not as negative as it could be but clearly, you know, as i said, trade wars or protectionist trade policies is a form of deglobalization. if globalization brought higher growth and lower inflation, deglobalization you could assume brings the opposite, which is lower growth, not negative growth, slower growth and higher inflation. that's a pe negative that's how i'm framing this whole issue, about valuation the good news is that pes are coming down while earnings are going up that allows for a more benign reset than otherwise would be the case if earnings growth was coming down hard and pes were coming down, the market would be down a lot more that's not happening, at least not right now. >> this is a bit wonky but it's important, we're in a weird per now where corporations are largely banned, are they not,

from buying back their own stock. there's some tax reasons and other stuff going on, but corporate buybacks always had a barrier to drops many corporations now for the next couple of weeks unable to buy back their own stock do you think that's playing a role with the big market moves we've seen lately? >> yeah. we are in the quiet phase for buybacks i don't get concerned about that companies have been sort of a volatility suppressing factor they are buying back shares. kind of for noneconomic reasons. just doing it every quarter. since march of '09 when the bull market began, s&p 500 companies have bought back $4 trillion of their own stock. and once this quiet period ends, they will be buying them back again. so maybe -- does that give you optimism down the road

>> i'm not worried about it over the medium term. does that give you more optimism that we will have that big buyer step back in potentially yes. the thing that makes me most optimistic is the economic cycle is robust. the pe has come down over 3 points we'll be looking at a 15 handle on the forward pe in the next few days that makes me constructive i still think the fundamentals are there. i just don't think we see the same kind of rate of change we've seen over the past few years. we could be chopping around for an extended period of time but that's not the end of the world after a 52% run over two years. that's not normal either if you go back to the 2015 period, the market went sideways for a year and a half. we had two draw downs of 15%,

all within a sideways range. and then we went up over 50% from there that's the way the market works. you have a plus 10% trend line and sometimes that outperforms, then you have to give it back. then the question is do you give it back in a sideways range or in a bear market so far i'm in the former camp. >> jurrien timmer, appreciate your insight >> thank you we're all over this big move lower in the futures we're indicated opening down 450 points on the dow. fears of an all-out trade war with china continue to grow. we'll give you more on the markets and more on the president's fight with amazon, jeff bezos and the post office another big story on your radar on a busy day already. we are back with more "wex" after this

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open dow futures indicated lower by 458 points right now u.s. proposing tariffs on chinese products china retaliating imposing $50 billion in tariffs on u.s. products one sector to watch is the defense names here morgan brennan is here we had you here this early to talk about the post office and amazon we'll get to more on that with a guest in a second. where do the defense contractors, the lockheeds, northrop grummans factor into this tough trade talk? >> in a lot of ways we're in unprecedented territory. the last time we saw major tariffs imposed where the steel tariffs were in under the bush and tra administration, but that being said we are not selling defense stuff to china

the defense second trar iretarye china and russia as two threats to other national strategy boeing is one to watch, they have the defense and the commercial business. the commercial business, where that is concerned, china is the biggest end market two different analyst notes that i've seen teeing up boeing ahead of earnings in the coming weeks saying trade could be a worry but we expectamentals to b strong here. before this the stock was up 100% some other things to watch, caterpillar, deere, united technologies, they have otis elevators they sell to china >> we're looking live at boeing as well as the graphic with the company logo boeing down 6% in the premarket. this was one of the hottest stocks in the market last year

so the valuation is there, we have a great team here, dedicated crew early in the morning putting together stuff as we develop it on the show we're looking at companies that may be impacted. we have ford, we have gm, we have fiat chrysler, steelmakers, ak steel some of these proposed tariffs include rolled pipe, iron products, adm. why are they on there? there's an ethanol issue with tariffs. bungea soybean producer. when you look at the list of products that get proposed, going both ways, and we've scanned the list, it's not as if it says we'll tax ford, we'll tax gm, it sometimes has complicated things where you have to discern what companies may be hit we're not seeing missiles and helicopters on this list that's why we don't know from

the defense side >> that's the thing. there's so many unknowns here. so many questions. you have to start digging down into the supply chains for a lot of aerospace and defense companies, they're doing stuff on the commercial side and the defense side that cross-pollination alour llows tt keep costs down. so there could be ripple effects. >> read the list of proposed tariffs, there's a lot of raw goods going back and forth we have to determine what those go into. morgan brennan, thank you. >> thanks. the other big story, president trump stepping up his attacks on amazon saying once again that the company is profiting at the expense of the u.s. postal service. the president subjecting he would take action to force amazon to pay higher shipping rates. this comes as the u.s. post office is set to renegotiate that deal with amazon later on

this year. let's bring in ted downy, he has done expensive good work on this topic. thank you for joining us here. who has the upper hand in these negotiations, amazon or the usps >> i think it's first important to take a step back and assess how usps has negotiated these deals. in the past you heard a lot of talk that they're just looking to meet the costs, just to have one dollar of profit in their deal with amazon and the question that trump is asking and what we've looked into is whether or not usps is getting a good deal and getting a price that's fair. that's what they'll be negotiating. >> are they? would you say they're getting a good deal? some say they are getting looked by amazon but also then getting

billions of dollars in revenue they didn't have before. >> we don't know the deal itself is secret. it's heavily redakctedredacted, contract version we can see. we know they're focused on meeting costs. if they wanted to look at this strategically, they would look at, you know, does amazon have any other options where they can go to deliver the packages they need 40% of their tack capackages co through the postal service they looked to the telecom sector that comes up with a market rate for access to a monopoly network like what the u.s. postal service has. and they would look at what would it cost amazon to walk away what would cause them to walk away what would the price be that would cause them to walk away? something below that would be where a strategic price would be set. we know they're not even

thinking in those terms now. it's safe to assume they could charge a higher price. >> teddy downey, we'll see you again. thank you for joining us top story here, setting up for a down day on wall street. jeff kilberg jeff, the market has been hot for the last couple of years, stretched out on top are we seeing a vulnerable market or do you believe the market is responding rationally to what are only right now proposed tariffs >> well, the bull market is long in the tooth, nine years, but this is an emotional tape. look at the gains yesterday. we see more biblical eye for an eye out of china that retaliation is tit-for-tat, eye for eye. and right now the dow jones down nearly 500 points. s&p giving back all the gains yesterday. this is the undercurrent as this

trade war has started. >> you said emotional tape, are you surprised by the number of 1% moves we have had this year when we had zero last year >> sensational we get excited in chicago. when you see this heightened volatility, people get scared. we use a lot of option overlay strategies if you're the home player and you don't have the ability to trade options, this is the time to embrace this volatility harness in volatility. coach told us back in the day when i was playing football, always stick to a plan boeing is down 6%. there's no reason for it to be down 6% except the emotion if you want to add to some of these names, now is the opportunity. put in a limit order put if a limit order where you're comfortable and own some great stocks this emotion is putting a for

sale sign on the stock market. >> thank you very much, jeff thank you. dow futures close to being down 0 50points "squawk box" will have more on these big market moves next. we came with big appetites. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪

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breaking news. china striking back against u.s. tariffs announcing $50 billion in retaliatory tariffs against american products. markets responding dow futures plummeting more than 400 points on the news monday down. tuesday up wednesday down we'll have a full rundown of the big movers and a developing story in california that you probably watched all day yesterday. we're learning more about the shooter at youtube's headquarters a live report from san bruno

it's wednesday, april 4, 2018. "squawk box" begins right now. ♪ >> live from new york where business never sleeps, this is "squawk box. good morning welcome back to "squawk box" on cnbc i'm andrew ross sorkin joe kernen is back kelly evans is here. becky has the day off. as joe mentioned, big news, china announcing retaliatory tariffs this morning details released around 4:00 a.m. eastern time. more on this in a minute first look at the response in the markets. we are taking a tumble in the futures. u.s. equity futures dropping 300 points on the news let's see the dow, opening up closer to 460 points down. the s&p 500 off about 38