>> for china is open you have korea down over 5% for the week. >> yes. >> china has been closed you expect hang shy to be down a bit more than that and pronounced fashion. >> more earnings >> great first week back sarah look what you brought on. >> a long week. >> that does it for "closing bell." >> have a good weekend, everybody. go niner. >> announcer: a selloff rocks walds, the dow dropping more than 600 points are for the worst day since august the major indexes nesting for the year the investors on edge as a deadly virus spreads and global growth slows where do you put your money following a day like today the traders are here to bring you some answers "fast money" live from the nasdaq market site starts right now. >> indeed it does and welcome everybody. i'm tyler mathen in for melissa lee. traders tim seymour.

brian kelly guy adam y steve grasso wasn't my worst day since august. >> you look good. >> i feel all right, good, it's okay. >> good for you. >> energy, tech, industrials leading the selloff. the s&p off to the worst start to a carrier since back in 2016. we begin with a question that is top of mind for many investors the beginning perhaps of something bigger, deeper, longer, guy. >> i thought that for a while, ty great to have you here. >> thank you. >> in terms of s&p levels you have to look at 3030 which i know soundsed odd. that's a level i've been flagging for a while i think nasa level that can trade down to. that's probably another 5 and 6% from where we are. it does feel like this is the beginning of something people will blame the coronavirus. i get it but i think a lot of the moves you are seeing were in place before anybody heard the term coronavirus. that speaks to the move in gold and bond market we have seen for

some time. >> i think that's an important point. you look at how it traded today, the market traded today, the dow is down down three, four hundred reports before more reports of the coronavirus in new york city because chicago pm the i game out horrible if you look at the economic data since the trade truce we were just starting to recover and then the real question is is it enough to knock us off look at s&p 500 versus chicago pmi generally a leading indicator. look at the differingens the market accurate is pricing in a different economic nan is out there. i think that's why you got the selloff accelerated by virus fierce. >> don't you think it could have been that china hasn't been open since the 23rd, everyone is worried about monday. >> that's what i think that's a big part of it. >> people trying to get ahead of that who wants to go home before the weekend and have the cases ratchet up over the week and you can't sell stock who wants to go home or come into monday with monday asia

down dramatically and no exit. that's why i think that this could be the worst i think you could see a green monday after the amnesia plays out. >> the market closed about a woke you've got all that pent up selling right there. that may go. >> i think steve is offering up a plausible, you know, solution to the overdone conditions, brian talks about chicago pmi. chicago pmi was the worst since december 2015. that's -- that number has been almost that poor for the last four or five months as well. so -- and markets flying high. if you think about what emerging markets and you have ways to track what china is going to do all week i don't think china is doing anything differently monday morning. i realize the local markets could trade differently. i think this gets back to where we were. and whether they are related or not it was almost two years to the day we had the blow blow off top at january 26, 2018. the selloff wasn't today it started last week.

it might have been the 26th. doesn't matter history doesn't repeat itself it rhymes but you have the place where i think the markets were just positioned for perfection and think about what we had this week we had perfection out of microsoft. we had perfection out of apple we had perfection out of amazon. and yet that should be what the market is worried about. >> the market wants a reason -- not to step on anybody but the market wants a reason it feels like to guy's point to sell off. >> exactly. >> everyone wants the market to sell off the bulls want a better entry point. the bears all-star want it to sell off long-term investors want a feel a reason to add to the buyside i'm sort of six/half dozen here. >> when i hear people say as tim -- i mean people -- people like tim say something like like the market was priced for perfection the other side of that to me is that the market is waiting for a reason maybe to sell >> and use any reason. >> and use any reason.

here was a reason that a month ago, a month ago was on nobody's radar screen. >> yeah. >> coronavirus was not. >> no, it wasn't but the one thing that you should wonder about is how was the bond market already working on this two weeks before the coronavirus settled in if you look at credit spreads they haven't fallen out of bed but looking at the high-yield indices they have given ground when you question global growth and the rerch references back to january 2016 remember that quarter. that that was when oil was plummeting look at all reflationary measuring copper, oil be commodities industry industrials steel companies. doing something similar. and it was fear -- the r word was dsh being uttered. but it's about global growth. >> i think the risk today -- going into next week of being too bearish pfrp you got to think there is going to be a monetary stimulus coming at least from china

i don't think china allows the markets to plummet then you think about the rest of the world. if you get a global, whether synchronous or not, if it's coordinated or not or global stimulus this market turns on a dime. >> i hate to added another domino to the eight -- this is your conspiracy guy guy. >> hundred%. >>ment eye of people didn't think you would get phase one. >> i thought you were going to say a lot people were getting a face lift. >> never. >> dance with the girl you brought to the prom, ty. >> think about this. if you have a phase 2, wouldn't this in theory -- in theory i don't know about in practice but in theory don't you think this would bring china to the table sooner on a phase 2? you got gdp come in china growth the post-er child for why china

should be at table for phase 2. >> what do you think. >> that's plausible. again, phase 1, absolutely happened took two years to happen and basically got us back to seemingly where we were two years ago. but that's neither here nor there. maybe the chinese are in a position forced to make a deal and president trump may be got lucky with this. i hate to use that phrase. but maybe this plays into his hands. with that said, the bond market has been doing this a while. think about the volatility in the bond market. 10-year yield pushing up to 2% seemingly three weeks ago now down 1.5 and going lower tremendous volatility. >> you know what did well, home builders you look at the things that shouldn't have reaction to coronavirus you go where the money is at. >> home builders. >> mortgage rates at 3.4. >> i think they are responding home builders have been a great trade for a while. >> if you see rates not going anywhere now and maybe dumb luck that they have rates with

further pressure downside -- >> i guess twab 18 years ago the s&p 500 was at all-time high when you dig beneath the surface, a third or there abouts of the nasdaq one hundred are in correction territory telling me the leadership up was very narrow. >> and think about a third of the nasdaq 100 that's apple, that's microsoft, and that's amazon. they did all they could do this week and if you think about that, every one of the companies was priced to perfection in the numbers. they rallied appear should have -- blew it out. gave great griedens that should be a concern if the nasdaq 100 is in connection the price on apple wasn't good biggest down move in apple in a km months. >> but if you google the six stocks that matter a couple years ago, same story. that's the problem with the narrowing leadership for quite some time that's what happens when you have a market cap

indices that were we're all following. >> all righty. lets check on the latest on the coronavirus. because there are new developments in the spread of that deadly illness. the white house declaring the outbreak a public health emergency now. and lets get to cnbc's meg tyrrell with more on this developing story and the administration's response to it. meg. >> hi, tyler we are getting word from the cdc actually that the seventh kwas in the united states of the novel coronavirus has been confirmed in santa clara, california we are awaiting details to learn whether it's a travel-related case and somebody who traveled from china or if it would be the second case of human to huma transmission here. so far only one case of confirmed of that in chicago now, earlier health secretary arlgs azar making the declaration of the public health emergency in the u.s. as health officials emphasized they believe the risk is low. detailing trachl travel restrictions for people returning to the u.s. to china are the staing sunday night any u.s. citizen in huba province

two weeks will be subject to mandatory quarantine for 14 dates days thought to be the outer edge of the virus incubation period. u.s. citizens in the rest of mainland china will be at entry health screening at one of seven points ports of entry through which flights will be funneled and subject to 14 days of self-monitored quarantine. foreign nationals other than immediate family of u.s. drents will be denied entry the moves come as public health forbear officials detail the unknowns of the vierds noting the case counts steeply inclined by the day and the virus has been confirmed to be able to spread when parents aren't showing symptoms of course guys before this the case count remained at six five of six were travel related and one case of human to human transmission between a married couple in chicago. we bring you more case of the details as we get them. >> lets look at reaction to the

outbreak airline stocks falling hard as several carriers expended flits to china they suspended flights until into march and april you completely stay away from the names, tim, or what. >> the beleaguers airlines sector you think about the kbokt of boeing on them for a handful united, southwest, a handful of names. you had earnings and understand also to understand airlines. if you look at the companies in terms of balance sheets and valueses it's an interesting time when you look what's going on right now, i still think the cyclicality of just the -- look at the iyt, the etf trading the transportation sectors that's not a chart i want to buy. fedex testing lows around 140, 135. as much as i think delta is a very strong play in terms of valuation and a company that's probably, you know, counterboeing, i wouldn't buy -- i'm long. >> i assume you'd like to look at the last outbreaks, the sars

or mers or spirit airlines which i'm long middle 30s trading above 40. i don't believe they fly to asia. >> don't fly to china. >> you have these sold off as macrosector bets i would look for those sold off with the group that shouldn't be sold off obviously biassed to savepsave ushtd abbayer if it's selling off on in. >> delta airlines has a major double top from july of this year recently you have to think if if continues tests the lows we saw fl december of 19 which is 47.5. i understand what steve is saying bringing up a good point in terms of spirit but works on the upside as well pl a lot of stocks moved to the upside for eight years for no particular reason other than coupled etfs now you see the op sid side of that i'm not suggesting steve is saying this. but it can't be good on the one end and bad on the other

take the good with the bad. >> a lot of them sold off because of exposure to boeing. delta had no expose you are spirit had no exposure to boeing it's the same type of story. >> you hope this is a transier to event and that they get their arms around it within a month or two something like this. is this an opportunity to buy into some of the names. >> i don't think so. maybe savep lets take the ones that fly. >> american, delta, united. >> american, delta united. i don't think you get that consumption back from my experience people in hong kong and asia this week, conferences are being cancelled. business trips are being cancelled. and they're not being rescheduled. i don't think that consumption comes back will there be a time to buy the airlines maybe they've been flat lined effectively a long time here i don't think there is a catalyst to punch them out maybe if we get a pan he can low you can trade them but i don't think you can buy these for investment. >> how about the cruise lines,

the cote the cruise lines this with this the airlines should recover. but the cruise lines one negative story after another and they can't get out of their way. you don't want to be trapped oh on a boat. >> would you jump up. >> yes i'm a germphobia. it's problematic pmt could you imagine being stuck on the boat with 7,000 possible with possible coronavirus. >> i would be looking for swimming right fl i'd be looking for ways to jump op off. >> taking a quick break coming up more on the selloff stocks now the negative for the year we break down a few places to seek safety what to expect from alphabet when it reports after the bell monday will it be safl bet soup or something better. >> oh. >> and later why this mystery chart could be a giant warning sign for your money. we will explain. we are live from times square? neyow rk city. much more "fast money" right after this at leaf blowers.

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now you can take control of your home wifi and get a notification the instant someone new joins your network. only with xfinity xfi. downlaod the xfi app today. all right. welcome back everybody to "fast money. stocks falling hard on this final day of trading for the month. all three major averages now negative for the year. and we started in such a

promising fashion. food as drop comes ahead of another busy week for earnings next week. the last of the fang stocks reports after monday's close so b.k., alphabet? that would be one of them. >> it's kind of an interesting setup here if we were just going into this without the selloff you might say there is a sell the news even i think you could have the reverse here we have had quite a drop in google we know that the facebook's ads weren't horrible the revenue wasn't what they wanted if of course there is a duopoly in digital ads alphabet is one to buy i think sometime next week there is opportunity to buy the market as monetary stimulus comes in. what have people been buying all year, google for the growth. i think on any weakness going into -- even if it's monday before the earnings i think you can buying google ahead of those. >> to me it's not a question whether the fundamentals are good not a question about, look, we have some sense from facebook in

terms of the ad revenue, some sense from microsoft in terms of cloud. if the site revenue which i think -- which tough comp comes if better than expected. think about the holiday traffic we had i think it's an important time for google there is a driver with the change in leadership, a shareholder friendly approach is a re-rating of the company i believe the transparency that people -- investors wanted for a long time is part of it. but it's about the market dynamics if you think about what was reported this week in the other trillion dollar companies, it ha hasn't really mattered. >> and it felt like last year you had this huge political headwind for google. that seems to me to have dissipated for now there are other issues that capitol hill is worried about. you are thinking about impeachment now. not thinking about google. you might be thinking about facebook might be thinking about a host of other social companies or other large company tech but it seems like google is getting pass now which could mean higher prices >> quickly, ty you weren't here

we had david faber. >> we waited for you you didn't show. >> faber was happened to be in the neighborhood but last night amazon reported as you are aware and steve talked about in last night. tim talked about it. look where amazon closed today why do i bring it up look where it closed in july of 2018 and in august of 2019 basically 2011 and 2021 closed at 2008 today. it's fascinating against we're up against the levels maybe on five times normal volume five times normal volume maybe we put in the short-term top in amazon. >> a quick break we have a market flash in the biotech sector from meg tyrrell. >> tyler, looking shares of ashun per therapeutic the fda approves the peanut allergy treatment up 9.5%. this is the first for this

allergy to be cleared on the u.s. market, a way to prevent allergic reactions to peanuts. it's not a treatment like the epipen for and flaxis. up now more than 10% for aimmune therapeutics. >> this is the first drug that has been showing much efficacy against the peanut allergy it's up 10% in the after hours. >> on this desk, i know -- my partners at work it seems like one out of every family has a peanut allergy i think this is potentially a huge deal. i'm not claiming to be an expert on this. i have to dig through it but up 10% for a prevalent problem is nothing. >> i'm sorry, b.k. >> up 11% for something with a huge addressable market what steve says, i think there is something that we're missing or the market is just say sleep on this but it seems like a massive market for this drug >> all righty. we got a lot of show left for you. here is what else is coming up

in in half hour. >> announcer: the market selloff has shaken more than just stocks we'll break down what the drop in our chart of the week says about where the market and the economy is going and later on "options action," a golden protection plan that you don't want to miss afr e atndorl th a me tethbreak. n: what gives me confe about investment decisions? rigorous fundamental research. with portfolio managers focused on the long term. who look beyond the spreadsheets to understand companies, from breakroom to boardroom. who know the only way to get a 360 view is to go around the world to get it. can i rely on deep research to help make quality investment decisions? with capital group, i can. talk to your advisor or consultant for investment risks and information.

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♪ just for you (sniffing) ♪ it's a cup of your favori-i-i-ite... ♪ (loud splashing) (high-pitched laughter) dang woodchucks! with geico, the savings keep on going. just like this sequel. 15 minutes could save you 15% or more on car insurance. oh, the things you miss when we're away oh, the things you miss. welcome back to "fast money. if you are just joining us as you can see there was a rough day on wall street major selloff. stocks sharply lower s&p having the worst week since august tim there is one chart, you say that stands out to you. >> we have this thing at "fast

money" called the chart of the week i don't know if i'm supposed to walk to the plasma. >> stay here. >> and it's copper you look at copper also sometimes known as dr. copper, this is a chart extraordinary. fallen almost 15% since the beginning of january in fact the middle of january when we started pricing in some of the concerns. if you think about the other reflation assets, copper is the leading indicator. unfortunately it's actually broken through 250, 255 has been an important level for copper. you know, it can trade lumpy i wouldn't get worked up over cents. this is support. a month and a half ago we were looking for a breakout in oil, and copper and i think this is something to watch. >> go ahead, b.k. >> what's interesting, the copper to gold ratio does a good job of predicting rates. beginning of january, copper was telling you rates were going down to 145 on the 50er. we're at 1.50 now. that's normalizing you have two markets here

starting to normalize. the bond market and copper, the last one here is the equity market which makes me think we are coming closer toa low. >> ty to broaden out u.s. steel, a $43 stock in march of 2018 when the tariff talks started. now it's a $9 stock. and it's fascinating to me that this should have been beneficial for steel companies. and in terms of u.s. steel, anything but to tim's point, yeah with the baltic dry index not a lot good going on right now. >> lets go for the final trades. around the horn start with you time. >> altria, based bon the writedown of juul this week ma made a headline but we knew what this meant in this environment altria is one of the most dependable stocks, a cash machine mo. >> please. >> spirit airlines a lot of it covered in the show a lot of reasons to sell the transports but coronavirus isn't one of them spirit airlines, save. >> b.k. top of the show steve grasso said a green monday

i agree with him it would be contrarian if you do you buy xlk. >> guy. >> 31.34, niners this weekend. pfizer went grien. >> pfizer in the green that does it thanks, guys. we got to go "oio aio ineptnsctn"s xt ♪ ♪ ♪ ♪ ♪

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it's friday evening here at the nasdaq you know what that mean. it's time for "options action. and we've got a big show on deck here is what's coming up >> stocks sink hard as global concerns collide but like a beacon in a storm, the "options action" team identified a possible shining safe harbor. >> then. >> akun at matata, no worry. >> announcer: if that's more your perspective we're also getting animat a