it is 5:00 a.m. on wall street here is your top five at 5:00. pressure on the market with out of control inflation futures are down taking a hit cryptocurrency bitcoin off 2,000. ethereum down 11%. you will not believe some of the money lost in this once hot sector. the magic kingdom losing sparkle. disney warns of the rougher road ahead. rivian trying not to fall further. sales missing estimates as that

stock is down from the high. dethroned. apple losing its title as the world's most valuable company. we will tell you the name that took over. it is thursday, may 12th this is "worldwide exchange. well, good morning, good afternoon or good evening. as always, welcome from wherever in the world you are joining us. i'm brian sullivan let's get to it. look at the headlines. i know they were tough not a lot of good news we are glad you are here with us it is what is happening. let's check stock futures. they are down across the board nasdaq futures down on a percentage basis more than the dow. down 181 dow down 50. a rough day for stocks on wednesday, the markets tanked on the inflation data and crypto

selloff. sellers bullied. the markets down all afternoon it looks like the downward momentum will continue today on wednesday, the nasdaq lost 3% it is now down 27% this year on pace for one of the worst years ever dow falling for a fifth session in a row that is actually the second time it has happened this year. there is one good sign if you are looking for a bottom bond yields are coming down. it means the market is actually acting rationally. people are selling stocks and buying bonds that is not what happened in the first four months of the year. that doesn't seem likely to be at the bottom until we get a full capitulation. it is one sign trying to find a silver lining to oil and gas

both are lower crude oil down 2%. we got to get to what is maybe the market story right now that is crypto it has been a washout for nearly every coin and crypto related stock. right now, all of the major coins are down again bitcoin is down the least on a percentage basis people clearly selling to raise cash bitcoin down 40% this year we are seeing ethereum and the other coins down 8%, 9% or even 12%. we will get more coming up in the morning rbi. one of the big money movers is disney. dow down in the back of the quarterly numbers. it missed on the top and bottom lines. disney did report stronger than expected ed growth in the subscriber numbers across platforms. disney is warning of a tougher road ahead we will have more coming up.

disney stock is down 5%. let's go around the world. we have red across the board in asia the nikkei and hang seng is down 2% each. in europe, again, a similar story with red on the board there. let's get more on the live trade with julianna tatelbaum in london with that julianna, good morning i think. >> brian, good morning depends how you are positioned, i spouppose we have red across the board in europe it is important to put in context. european markets ended higher yesterday. the third day of performance the stoxx 600, the benchmark here, ended 1.76% higher we are seeing a catch up trade because they did not see the heavy selling you saw on wall street yesterday nevertheless, there are sizeable moves lower. ftse 100 down .25%

uk gdp contracted in march the cac 40 in france suffering heavy selling. broad based selloff. investors taking risk off the table. from the sector perspective, it is red across the board. telecom down .50%. we have a couple of inn idiosyncratic performers basic resources down 4.4%. alongside auto and travel is under performing investors taking out of cyclicals and putting in defensive stocks brian. >> big losses across the board in every group julianna, thank you. to the top business

headlines. including apparent cutbacks of facebook's parent company. silvana henao is here with that and more >> brian, good morning meta plans to make cuts in the reality labs division. according to reuters, the chief technology officer told employees it could no longer afford to do some projects and would have to postpone others without specifying which projects would be impacted reuters adds layoffs are not expected the report comes after the company told investors last month it would scale back costs this year. the senate overwhelmingly voting to confirm philip jefferson to the board it was a 91-76 vote. is the fourth black man to

become governor at the board and lords town motors will be sold to foxconn the former gm factory is seen as a lifeline for the lordstown as it works to complete the endurance truck. the deal is expected to close next week. brian, foxconn will build evs for clients anding in includinge ford truck >> imagine that your stock is popping because areyou are sell off the most valuable asset. thank you, silvana henao out of warren, ohio. let's get to the markets and your money and one of our favorite guests. he says right now is one of the most difficult times he has seen since the financial crisis dan veru is here with us

dan, thanks for joining us thanks for getting up early. it is a tough time what are you telling your clients? what is your rationale for what is happening >> good morning, brian from the way i see it, this is all the inflationary pressures or a significant portion are tied to the supply chain disruption i think we are learning that there is supply chain disruption from ukraine in addition to the problems in china. my sense is this is a process unlike 2020 which was very much v-shaped from huge liquidity placed this is a longer, tedious process. we will get through this i would expect that markets are oversold now because of how broadened out the selling has become as we get -- i would expect at

least in the near term, we are setting up for a substantial bounce at some point of probably 5% to 7% to 8% i'm afraid as we get further into the summer period and later into the summer, the elections will be on a lot of people's minds regardless of where you sit on the political spectrum, it's changed that could be the final leg. i would expect by then many of the supply chain disruption we had so far will begin to resolve themselves and it gives the federal reserve some leeway in terms of the pace of not only the interest rate increase, but also the reduction in the fed balance sheet to kwquantitative tightening. >> i said earlier in the show, trying to find some bright spot, because i know stocks are just another form of money. people are losing money. it is emotional and scary. there was a rationality and the

bond market was bought most of the year we saw bonds and stocks sold off. the first time we saw that since 1994 dan, what do you look for for signs of the ultimate bottom do we need the heavy washout 10 to 1 painful day as bad as it has been, we have not yet had that >> unfortunately, that is what you need i'm heartened a little bit that the markets are functioning better if you think about it, if you have 60/40 portfolio 60 went down, but so did your 40 this year. that 40% from fixed income, you lost money there, too. the barclays index is down as much as equities something we rarely see in the past a lot of that is just reversing. a lot of the liquidity,

extraordinary liquidity trends we saw over the last 18 months to 2 years >> very quickly. still betting on a name like senteen. buy mfor long-term investors. it is easy to forget in a red tape like this >> be overweight profitability centene. the company lost the long time chairman michael a month ago i want to send condolences to his wife and son one of the greatest legacies is the extraordinarily talented management team he left in its place. this is a $150 million medicare company. price earnings huge free cash flow. very profitable business with improving outlook despite

the economic landscape those are the companies you want to identify. the stock is flat. the year out performed massively. i expect when markets settle down, this is a big out performer this year. >> dan veru, we appreciate your views. thanks for getting up early. take care. >> thanks, brian. when we come back on "worldwide exchange. you're very welcome. some big money movers and why investors are showing no appetite for beyond meat that stock down dramatically losing a quarter of the value right now. a slightly different story for rivian a big sales miss we will dive into the ev makers results are dan ives that stock is down from its highs. it is the u.s. government ve versus elon musk again more scrutiny over his stake in twitter. ouhaisoitell y wt gng

on right after this. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create

this? this is supersonic wifi from xfinity. it's fast. like, ready-for- major-gig-speeds fast. like riding-a-cheetah fast. isn't that right, girl? whoa! it can connect hundreds of devices at once. [ in unison ] that's powerful. couldn't have said it better myself. and with three times the bandwidth, the gaming never has to end. slaying is our business. and business is good. unbeatable internet from xfinity. made to do anything so you can do anything.

welcome back time for the big money movers. inflation is hitting everywhere because this morning we have four stock stories for you stock number one is coinbase shares continue to bleed p money after the 26% drop wednesday that was following the ones high flyers government filing with the s.e.c. detailing risk

factors with assets in the event of the bankruptcy. the ceo says that is not likely to happen. crypto prices have tanked this week we will have more on that ahead. stock number two is bumble first quarter profit beating forecast on the rise of paying members for dating service downloads in the u.s. jumped in the first quarter. stock number three beyond meat down 24% beyond meat is now trading below the company's ipo price. it posted the first quarterly loss that was not first, but wider than expected. like i said, beyond meat down 24%. and this last one is a big one softbank japanese investment firm reporting the biggest annual loss in the 40-year history. lost $13.2 billion as bad bets in stocks have taken a toll.

softbank runs the $100 billion vision fund in the publicly listed stocks like uber and doordash and alibaba dropping more than half their value this year. softbank is run by masa yoshi son. and rivian is up 2%. this after it has come down more than $150 per share or more than 80% from the intraday highs of last year. orders for the electric pickups did remain strong. where does this once hot ev maker go from here joining us is wedbush's dan ives dan, great to have you on. it feels like a contradiction from what i heard and read i did not listen to the conference call. i read about the highlights afterwards orders are strong. not just from retail customers,

but also from amazon and on the electric truck side. they are seeing strong demand for the product itself what do you think is the problem with the equity? >> the biggest problem is since the ipo, this has been a train wreck. i think a big part that have has been the communication for management the ability to control the supply chain, some out of their hands. investors do not have confidence that they have been able to navigate ultimately the price increase and they took back the price increase a comedy of errors it feels like they are slowly moving around the corner in the right direction. demand is there. reservations is 90,000 it is a different market this is a penalty box stock right now. >> i did a panel with gm ceo

mary barra last week she was not knocking rivian, but companies like rivian out of the blue startups is doing something she has known for years. manufacturing cars and trucks is hard it is hard work. supply chains are tough. it is difficult. do you think that rivian is going to get through this? i don't ask that question lightly. >> i think they will get through which is why i believe here the risk/reward is still there and positive i think what mary said is true a lot of the companies underestimated the supply chain. ing doing it up on a white board and the real thing is different. for a lot of new companies coming out, especially given the amount of money from amazon. this was not any start-up as the golden child

it has been a nightmare story for any investor that is focused on it. >> where does the stock go from here, dan? what do we do if we own rivian bought it after the ipo? it was $176 a share at one point. maybe people are hanging on. what do they do? >> in these markets, you have to see who is standing at the end the winners. the cash right now they have enough cash to get to the demand story kicking in. en enterprise is virtually szero the demand story is there. management is starting to turn the corner r risk/reward. i would not sell it. as much as a daisaster it has

been, given the risk/reward, it is hard not to be bullish here. >> dan ives of wedbush giving us hope for rivian. that stock in the green right now. hard to make much of that. we are looking for anything. dan ives, thank you very much. still on deck, stock futures continue to fall the dramatic drop of cathie wood's flagship etf. continues to fall out of favor and it is down again this morning. grab another cup of coffee, hit the treadmill. the sun is coming up we pmirose we're back right after this here on cnbc. searching for savings on your prescriptions? just ask your cvs pharmacist. we search for savings for you. from coupons to lower costs options. plus, earn up to $50 extra bucks rewards each year just for filling at cvs pharmacy. (heartbeats) plus, earn up to $50 extra bucks rewards introducing icy hot pro. with 2 max-strength pain relievers.

ice works fast... to freeze your pain and your doubt. heat makes it last. so you'll never sit this one out. new icy hot pro with pro-level contrast therapy. rise from pain. it takes a village to support society and businesses have a responsibility to support that village. ♪ ♪ i am peter akwaboah, chief operating officer for technology, operations and firm resilience. when you think about diversity, the employee network group is fundamental to any organization to provide a community and a belonging environment for the employees. they provide an avenue to support employees and ultimately it leads to retention of the best and brightest. the employee network represents the community at large,

and it provides a good feedback loop to senior management to make the appropriate decisions, which ultimately contributes towards the bottom line. if you're thinking about growing your business, if you're thinking about driving the business forward, inclusion is a strong part of this. i am peter akwaboah and we are morgan stanley. joel, since kansas, we've taken our own path. we've never done what everyone else did. we took on the fear. we ignored the doubt. we loved the excitement. we believed. even when our path didn't make sense to everyone else, we kept going. we keep going. until our path is the one they wished they had taken. ♪♪

welcome back let's get a check of the top headlines outside of money and business including terrible fires ravaging california's richest areas. frances rivera is in new york with that. >> brian, good morning the pictures are devastating for now, russia's war in ukraine is in the 78th day ukrainian forces gaining back some ground pushing russian forces out of kharkiv. hours ago, finland leraders announced support for nato they will begin the membership process in days. now to the southern california destruction mansions engulfed in flames

after fire tore through the laguna hills the orange county fire chief estimated 20 homes affected. that number is likely climbed thanks to the fast winds fuelling the inferno fortunately no reports of firefighters or residents injured. the rock made history at christi's. the largest white diamond to be auctioned to be sold to anonymous buyer for $22 million. the 228 t was expected to go for $30 million. it is considered one of the rarest stones in the world i don't know if a display case will do that justice i don't know will you wear it it will not fit on your hand we're talking about a belt buckle for that rock >> a belt buckle that would being something to see. are you from texas

>> where will you wear it? it is a too honker of a necklace it can't fit on your finger. >> you walk around and people say, look at this. that's not real. no, it's not real. it's fake. shock them if you own that, that's it keep it on your desk if you can afford that keep that on your yacht. frances, thank you still on deck, we have more to do on this busy -- what is it thursday more on the crypto collapse. bitcoin and others are down big again. bitcoin off 5% that is the least of it. ethereum and erp and others all down 10% or 15% or 20% we will get a look at what is fueling the selling and where the bottom may be. a nudge, if you haven't yet, follow our podcast on the podcasting platforms

we're back right after this of e break. do i just focus on when things don't work, and not appreciate when they do? i love it when work actually works! i just booked this parking spot... this desk... and this conference room! i am filing status reports on an app that i made! i'm not even a coder! and it works!... i like your bag! when your digital solutions work, the world works. that's why the world works with servicenow. ever wonder what everyone's doing on their phones? they're banking, with bank of america. that's why the world works the groom's parents? they just found out they can redeem rewards for a second honeymoon. romance is in the air. like these two. he's realizing he's in love. and that his dating app just went up. must be fate. and phil. he forgot a gift, so he's sending the happy couple some money. digital tools so impressive, you just can't stop banking.

what would you like the power to do? [ doorbell rings ] my fellow xfinity customer! watchathon week was a resounding success! young man! [ snoring ] and, even though it's now over... you can keep watching the hottest shows all year long... ...on netflix... ...prime video... ...starz... ...and hbo max! just say “watchathon” into your voice remote to add a channel or streaming service.

it could be another rough day for stocks and your money. futures are down again as recession fears rock the markets. it is not just stocks. crypto crushed bitcoin below 20,000 disney not looking so magical. dow falling again as it warns of a tougher road ahead

it is all happening on this busy thursday, march 12th this is "worldwide exchange" here on cnbc welcome or welcome back, everybody. 5:30 on the east coast i know most of the headlines are hard to hear stocks are just another form of money. it is emotional. it's tough we are glad you are with us and ride through we will get through it markets will reset valuations from time to time. that is exactly what we are doing right now. the sun will come up markets will go up again at some point. right now, we know it is tough speaking of the markets, here is where we stand right now futures are down once again. markets clearly trying to find a bottom wherever that may be, it does not appear it is here now. dow down 194 nasdaq down on a percentage base big tech is bearing the brunt of

the losses the nasdaq is now down 27% this year it is on pace for one of the worst years ever a lot of things can change the sixth biggest loss if my memory serves me on the nasdaq if we ended the year here. one reason stocks are selling off is crypto. it has been a washout lately for nearly every major coin, commodity and crypto related stock. right now, all of the coins are down once again. bitcoin off 6% many others are down double digits bitcoin is down 40% this year. we will get more on crypto coming up in the rbi and with a guest in moments. we also need to take a live look at the ark. it is down once again. off a few percent. it fell 10% yesterday. it is $36 a share. it was $160 less than one year

ago. wow. another stock with a big drop on wednesday, but not getting attention is dish network. dish network fell 19% yesterday. satellite tv network hosting the first investor day in more than ten years. dish making a big bet of 5g networks as a service as it calls. we will see if it pays off down the road investors underwhelmed by what they heard on wednesday. also happening now s.e.c. is reportedly probing elon musk. at issue is if he failed to notify the agency of buying 5% or more stake in twitter the journal reports the ftc is investigating musk over where he violated a law requires reporting certain large transaction to anti-trust agencies. and instacart filed for an ipo. that company valued at $39

billion in the private markets of march of 2021 march of this year, it slashed that valuation to 24billion. citing the tech stock selloff. apple is no longer the world's most valuable company. that title belongs to aramco apple shares down 20% from the january peak in the meantime, shares of aramco up 27% this year. aramco market cap is larger as apple defines the year apple is a member of the dow. let's stay on that index because disney is the member it is the 23rd highest rated stock in the index disney matters shares of disney are down more than 5% following earnings this after the numbers crossed last night 9 cents below forecast the number of streaming video customers for disney plus was

better than expected the park 's business rebounded. disney investors hoping for better times ahead that stock down 34%. let's tie it all together with jonathan kees. jonathan, good morning on the surface, the numbers weren't terrible what do you think is happening with disney stock right now? >> thank you for having me good morning on the surface, you get one message. the stock is reflecting a different. if you look at the parks and you look at the box office and if you look at even their streaming, it's great. the economy is going well. people are going to the parks and the movie theaters people are going to -- signing

up for streaming for disney plus there's a lot you can say for what's going on. i think there's a lot at sector risk disney has gone down with the markets. there was especially a big hit when netflix reported their march quarter and reported subscriber loss of 200,000 a lot of investors had concerns with disney plus and other streaming peers it would suffer similar fate with the subscriber loss. >> yeah. jonathan, the overall market -- let me jump in here for a second -- the overall market is relating for a recession what i mean by that is the market -- for wall street, the recession is here. it sounds weird because the

numbers are good the bond market and recession has already come they are re-pricing everything the amazing thing with disney. 34% or 38% drop after today, the pe ratio and other metrics are the same or actually higher than they were at the beginning of the year at what point does disney become too cheap to not buy >> you know, that's where you are asking when does it market bottom it is dropping in parallel with the market i would say that it has gotten a lot cheaper on the pe basis and sum of the parts as how we evaluate it. in terms of how much cheaper it is below its five-year average multiples. it is below our target price of

$200 it is a -- you would say a value play even. this is an iconic name this is a name that will get through the recession that wall street is pricing and come back out the other side stronger and stand out in terms of the sector go ahead >> i was going to say, jonathan, it has been a tough run here very quickly, is the ceo bob chapek's job on the line >> certainly a lot of controversy with what has happened with the florida political issue and with some of the other shoes in regard to the strategic focus. i don't think so he still had to report to the

board. if you look at the numbers and dig deeper, you see subscriber numbers, disney plus numbers, were strong. they were the best in place. they beat all of the other peers with 7.8 million gain for the quarter. it was per than paramount plus and warner media and netflix subscriber loss. i think he still has some length he is an insider that was promoted to get this job he knows everybody i think he is more of a quiet guy behind the scenes guy. >> he's going to have to come out and speak up and get in front of the scenes. the chief comm officer got pushed out after three months. i know him well. jonathan kees, i appreciate your

insight. thank you very much. coming up, more on crypto big fall crypto below $27,000 for bitcoin. we will dig in next.

time for today's most random, but interesting thing cnbc style today it has to be crypto. if you missed it or afraid to

look, wednesday was the most painful day for crypto investors in a long time it primarily happened because of liquidity concerns around the huge so-called stable coin provider if this sounds confusing, it is. the lingo is confusing for non experts. including me stable coins are meant to be the crypto equal of the bank account. boring, but safe place to keep cash that is tied to the u.s. dollar. the ties have come unravelled. stable coins are anything but. wiping out most of the value this has caused a hit on confidence across the cryptocurrency spectrum and likely need to raise cash. which resulted in the selling of other assets you sell what you can. the selling has been brutal. first, to the coins themselves here are the losses just this

week keep in mind, i wrote this last night. these numbers will be bigger as of this morning's losses bitcoin down 18% it held up the best. ethereum down 21% this week. litecoin down 30%. that is since monday it has been worst for the crypto stock investors. in fact, it has been a disaster. trust me, i do not use that word lightly. look at the moves in well known names from the all-time highs. galaxy digital down 81%. micro strategy down 81%. coinbase lost 85% from the all-time high. grayscale and back holdings. two former darlings of crypto that are talked about the biggest companies in the world just a few months ago. they are down almost 100% from the all-time high. keep in mind, many of the losses have come down that much since

early november almost all of those stocks hit the all-time highs on november 9th. in six months, wiping out 80% or 90% or 95% of investor value that is something we have not seen since the 2001 internet crash or the mortgage lenders in 2008 it is real and it is painful and it has been scary. it will be crazy to watch this play out in the next few days and weeks and months random, but hopefully interesting. all right, joining us on this is juthica. i'm sure you are working 24/7 trying to answer questions in layman's terms, can you explain to our audience what the hell's going on? >> i think in crypto right now, we are seeing the confluence of a number of factors.

it is not just specific to crypto, but the global markets as well. dating back to last week on wednesday, we had the knee jerk reaction from the fed and bitcoin up to 39k. thursday, nasdaq sold 5%, that is what kick started the crypto crash in a lot of ways some of the issues that were outstanding with terra and the stablecoin have been outstanding in it crypto for a while as soon as the confidence and sentiment erodes, you get the equivalent of the run on the bank this particular stablecoin is not backed by dollars. when you get a bank run, prices go down quickly. we had that play out over the course of the week and happening in the macro back drop those led to the volatile rundown in prices. >> is there any sign that things are turning right now, juthica

or is this sell what you can they borrowed money or borrowed against other assets to buy this stuff and as it is falling, they are forced to sell do you sense there could be a washout soon >> i think from what we have seen on the otc, there hasn't been much leverage as we saw spot selling on the way down, it was selling of spot positions and funds exposed to the broader markets. in general, at a macro level cash is king when you get the moves. at the point where we are now, bitcoin is now back up to 120. it was at 60 a couple of weeks ago. i think that means we're in for a little bit of a volatile environment. we will not just sit here and flatten out quickly. i think we are in for large moves to come. >> yeah. is there some catalyst on the horizon, juthica, that will make

that turn? to be fair, i want to remind the audience bitcoin has had a number of 70 plus percent drops going back to 2010 it has fallen 70% peak to trough tell me if this is a fair statement. you have to have, shall we say, intestinal fortitude at some time >> definitely. as you said, i've been through a number of cycles volatile cycles and ups and downs. it is a volatile asset you have to be comfortable with the fluctuations and a long horizon. you don't leave the process so you don't get wiped out. i would say what is different this time as compared to prior draw ydowns, in 2015 and 2016 an 2018 and 2019, when bitcoin had the large drawdowns,

institutions left the space. they didn't care about it and they didn't talk about it. they focused on other assets where they wanted to be in invested this time, we are seeing institutions on the sideline they are interested and wait for the right price levels to dip their toes once that starts, we will see others come into the space that will be the catalyst in a lot of ways that brings volatility down and reassures price a little bit >> reassuring words, juthia chou, let's hope this pays off thank you very much. have a good day. on deck, one sign investors are not betting on further down side for the markets trying to find a silver lining amy wu silverman will have her take coming up. we are celebrating asia american pacific islander heritage month we have wall street journal

reporter with the latest >> one thing that both my mom and dad emphasized while i was growing up was education i know that was one of the big reasons they moved to america was to give me and my sister access to the best education possible i watched them while i was growing up move to a totally new country and not knowing the language and not knowing anyone and having to build up their lives from scratch i have carried those lessons with me throughout my life

welcome back good morning stock futures are down we will see if things can turn around the morning jobless claims out at 8:30 a.m. the producer price index is the measure of inflation see if that runs hot janet yellen will testify before

the house financial services chi committee. let's get more on the day with amy wu silverman. amy, maybe it is a good time to get in the weeds when you look at the difference with volatility and vix and equity vol and the 99.5% of the population and matter to the market mechanism, are you seeing things get better? >> the short answer is yes you are right. a lot of market mechanics. i would say the one question investors have for us right now is they really feel the market is moving a lot. why is the vix moving more the short answer is a lot of investors have taken their ball and gone home.

they are not adding to hedges. the vix is already at a high level. it is pricing from the magnitude of the swings we are seeing. >> that's good news. we need it after what has been going on, amy, but you sounded a bit rec retiscent as well. what do you need to see to say all clear? >> we are far from there our headline vix number. what the swings of the s&p will be for the next month is plus or minus 2% per day that translates to the 34 on the vix. that is really high. it is actually so high we put it in the own regime. high volatility regime we spent most of 2020 and 2021 at 20 or below vix we had spikes.

we never had volatility this persistently high. the whipsaw is not good. it makes things very uni uninv uninvestable relative to 20. we need to see the volatility levels drop to the point where people can invest without the whipsaw happening as they do >> is there some catalyst out there and i ask this of juthica of crypto earlier. some catalyst, amy, that you are watching, is that the next fed meeting? is it something else or just going to be really a crazy time until the markets force selling or liquidation >> unfortunately it is going to be the full out capitulation which i don't think we have seen

yet or some resolution of something major. we know that can't be the fed in the sense it will take them time to get to the neutral rate it could potentially come from something that would surprise you that earlier resolution to the ukraine situation which i don't think anyone has priced in it is interesting because at these levels, one thing we were speaking with our team and clients yesterday is at this point, what is the trade if it is true that people have de-risk, there is a lot of sideline money could the pain trade be to the upside an upside tail event, then what in reality is a scramble to get back into the pool you may see volatility rise or markets rise as well >> crazy time right now. amy silverman. before we go, what is the number one question you get from

clients? >> i think people when she see markets this low and volatility so high and at a place where yields are rising, but not that high yet, people are asking if it is time to sell volatility and i would say probably not in terms of the cohort of what people looked at in pockets of high valuation and cash flow and stocks where there is low leverage, perhaps it is time you could use that tocommit to own the stock at lower levels and get attractive levels you are not seeing elsewhere in the market. >> amy wu silverman, thank you i appreciate your time the markets and stocks is a form of money it is scary and emotional. amy wu silverman, thank you. that does it for us on "worldwide exchange. we are back in 23 hours. crypto is down i know it is tough, but things

will find a bottom tomorrow we have the insider buying segment. what ceos are placing the biggest bets on their stocks maybe a sign they will see a bottom in the names. we will have it for you tomorrow look forward to seeing you have a great day "squawk box" is next immune system, energy ...even skin. so healthier can look a lot like...you. cvs. healthier happens together. when tired, achy feet make your whole body want to stop, it's dr. scholl's time. our insoles are designed with unique massaging gel waves, for all-day comfort and energy. find your relief in store or online. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig.

all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™

good morning it's a good morning. sun's coming up. we're alive. the futures are under pressure again. crypto wreck is intensifying bitcoin falling to the lowest level since 2020 level we'll talk about that. that's right we'll see. that's the great thing about technical analysis

you hit 27 >> next level. >> 18. who knows? disney shares falling. company closed yesterday at two-year low it is down significantly again this morning report ed streaming growth, but warned of the tougher road ahead. it was expensive some of which was cricket in india. very popular. beyond meat losing a quarter of its value after the expensive launch of plant based jerky. it's thursday, may 12th, 2022 "squawk box" begins right now. welcome to "squoawk box" her on cnbc. i'