dierdre: markets lower across the board. melissa francis will take you through the next hour. cover it all four. those big declines. melissa, over to you. >> stocks selloff on wall street. all three major indices plunging amid rising global concerns. weaker-than-expected u.s. manufacturing data. let's bring in today's panel. fox business's own charlie gasparino. get in here and sit down. james freeman from the "wall street journal." rob basso from advantage payroll services. this is big selloff on wall street. what do you think is causing it? charlie, you just walked in. give us your take. >> markets are on edge for a long time. when they're on edge they look for reasons and to selloff. i had three traders for three weeks that black swan event could be major event before last night's news. markets are skiddish as they are, they think it is overvalued and look for reasons. they see the manufacturing report this morning through the prism of ebola and so many other

issues. melissa: so many things are going on. don't discount october 1st. october is when we've seen biggest scaries moves, 1929, 2007, 2008. >> if you want to bring up '87. mortal words of ace greenburg, stocks fluctuate. melissa: exactly is what you have to offer here right now, markets fluctuate? >> the reason it is significant we've been in in era where i think a lot of people in government thinks every setback in the markets is reason for some policy response. i think what is really key here, for the fed, for example, a lot of academic economists, not so many market practitioners relaxer, understand these things happen. got bad news on manufacturing. bad news from germany. makes sense. melissa: go ahead. >> i think the jobs report is lackluster. we need 300,000 jobs on monthly base tis to get postrecession setup. melissa: do you think this is

because of that? >> i amable to foe what is causing this, i think markets what we all agree on, markets are eli on edge. a lot of people think this should go down. should be correction of 10%. when you get bad headlines, ebola, bad manufacturing -- >> it is another crisis if goes down 10%. we've had a huge run-up last few years. it happens. >> what james is doing, james is laying intellectual foundation we need to raise rates tomorrow. melissa: okay. >> i know where you like to go. i know where you guys on editorial page are. melissa: we're watching the selloff, materials and industrials. you're looking at big names in the dow, boeing, dupont, j&j, 3m. disney. nasdaq, baidu and facebook. so we're looking at a lot of big names here. and this is significant. >> you look at ford. they're readvising their 2014 estimates. they will be down from 7 or 8 billion down to 6 billion in 2014 in profits. melissa: okay. talk about ebola specifically

because the ebola virus is hitting the united states. a patient being treated at a dallas hospital, is the first person to be diagnosed in the u.s. with the deadly disease. so much, for the france chances being extremely low. where did we hear that. >> first and foremost i want the american people to know that our experts here at cdc and across our government that the chance of an ebola outbreak here in the united states are extremely low. melissa: unidentified man arrived in dallas from liberia a little over week ago. one reason report determined that odds ebola would materialize at the dallas-ft. worth international airport from monorovia, liberia, just over a 10th of a percent. so much for that. odds very little. we know very little about this guy. they're not telling us the airline, the name, anything. >> well i point out, my brother is an icu doctor. melissa: okay. so you have a particular expertise here? >> no. i know a little it about this

issue because i was speaking with him last night. according to him he would you they are underplaying the chances of transmission. now it is not like getting common cold. there is certain ways to get it, certain ways not but he thinks they're playing it a little too fast and loose no way you can get it, not coming here. melissa: that is wrong now because it is here. >> you know this just tells you, president obama he is a mile wide and inch deep. you really can't trust of what he says. seems uninformed. >> to his defense chances of an outbreak. this is one case. >> you're right. >> i think it's a concern because obviously both the administration and world health organization have been behind the curve on this thing for basically a year, underestimating, underplaying, downplaying. but we do have to remember, it is pretty hard to transmit this. it is not in the air. it is basically bodily fluids and in the united states.

melissa: but now it is here and now showed up and now -- >> cdc puts out to recommendations to funeral parlors how to handle remains of ebola, that is a little scary. melissa: there are a lot of details about this, how long the person was been in the united states before it was discovered. who they were in contact with. we'll cover a lot more a little bit later on the show. right now what we're talking about why these reports having impact on the market which they most certainly are, right? >> i would think so. listen, markets are on edge. little things like this, people trade off headlines. melissa: people reaching out to you, asking you what more do you know? traders asking us. >> got a call from a trader actually said what do you know not in the press about this outbreak? so clearly people are looking at this as a market-driven issue. obviously a huge health issue but you know, leave it to wall street. melissa: talk about another big stock, general motors hitting the gas. shares claiming after ceo mary

barra laid out an aggressive plan to have a 10% operating margin by early part of the next decade. on a day other stocks getting hammered and gm is higher. do you any of this buy in. >> ignition problems that killed 26 people, short term it will after an effect on them, but long-term, gm is strong profitable company. >> as for her goals and projections is hard to evaluate. they have had a pretty good few months selling cars in north america. you have to say consumers basically reacted in much more calm way than media did to the ignition thing. they are not turning away from the gm brand and like, chrysler as well. this has, one of the good spots of the economist. pretty good sales last few months. >> you know, this kind of remind me of the fact that back in 2008 we were talking, suppose gm did a prepackaged bankruptcy where you wouldn't need the government aid directly and deal with their union pension issues in

prepackaged countries. i had arguments on brand x, with some of my colleagues, if it went to bankruptcy it would never come because people won't buy cars. they almost went into bankruptcy. shows you we should have let them go into bankruptcy and dell with the union issues. >> i'm not totally sure i would let them go into bankruptcy. >> would you not buy a car because it is bankruptcy. a prepackaged bankruptcy they could have dealt with union issues which still haunt them. they have tremendous pension obligations. that is one thing hanging over this company is the are those obligations. melissa: let's move on. crouching tiger, hidden movie, netflix might want to change hollywood as we know it. movie theaters are not biting. three major chains is planning to boycott imax version of the film. only version set to release in theaters. movie comes out on netflix, exact same day with imax theaters, nowhere else. i don't know if weinstein company cares.

>> i think it is great. i think they're a disruptor in the market. melissa: totally. >> if you see what they did to the whole streaming video concept, five years ago it didn't exist. they put blockbuster out of business. of course amc and other companies don't like them. melissa: i don't know if that is fight they don't want. would anyone care that they don't release in imax. >> i will watch it where i want to watch it. >> the theaters resisting are fighting last war. this model will change. this is commercial dispute. i hope it is not resolved the way you see on internet side. people saying there is some kind of right netflix shouldn't have to pay internet access carriers when they want, more faster carriage through their network. this is commercial dispute and they're all exercising their rights you. >> don't believe in net neutrality? >> if you're defining net neutrality -- melissa: net neutrality everyone's eyes glaze. >> i this topic. melissa: people change their television habits and smaller cable companies are getting rid

of it. v service and focusing on internet and phone service only. talk about adapt and die, i don't know anyone 25, out of college, set up apartment and signed up for cable. they get netflix and row cue. cable? why would i pay for expensive service. >> to get fox business. melissa: obviously. cable companies are at adapting, new person watching everything on phone or computer, here is way to still pay us and get service without getting expensive cable hooked up to your television. they're adapting so they don't he die. what do you think, james. >> some are adapting. smaller players that don't own channels wanting to get high carriage fees from other operators. last year was first time in the u.s., number of pay tv subscribers finally actually went down. this trend you're talking about, it has been thought of. now it is happening. >> be selfish. what does it mean for us? you and me? melissa: we need to adapt as commodities. we need to find a way to get our product to these folks who don't

want to pay cable on their tv. >> i remember back in 2004 talking to my colleague jonathan alter, i don't think we're going to make it. for a lot of reasons we're going to make it. guess what? "newsweek" it didn't make it. it goes fast when you hit tipping point. >> cable as well? i wouldn't be that pessimistic. >> i think longer run but -- melissa: got to adapt. >> i'm a gen-xer. look at millenial generation. everything they consume is on their phones of the not even on television. the simple fact is, a company like cablevision which 3 million subscribers here in the new york area actually has been quoted saying i could see us in the next five or six years not being in the television business. melissa: but they provide internet. they have to figure it out. newspaper man, what do you have to offer? still a lot of people are -- >> what i like to believe and i think applies to all these media, if you're providing quality content the distribution model will work out over time. and it is rare in an industry

that distributors of a product make more than the creators. so i think if you're creating good stuff the model -- >> james, james, that is what "the new york times" has always said. guess what? they laid off another 100 people today. >> yes. >> i get all my news from the "new york times." >> i think you would, there is question there about the quality. >> no. with all due respect they're a good paper. they're really good paper. left of center. i don't like their headlines and i hate their columnists. but they're a good paper. if they can't adapt -- >> a awful lot of buts in there. melissa: horrible individual but i love them. basically what you just said. massive crowds gathering as protests rage in hong kong. another serious issue. why we're seeing market down today. how the movement could make for a tense standoff at the white house. eating it up. minimum wage movement finally making headway despite damning facts on job loss. more "money" coming up. ♪

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huge crowd filling the streets. look at this. unaffected by clashes with police. heavy rain, repeated calls from authorities to disperse. protest leaders now threatening to occupy several government buildings if their demand are not met by tomorrow. by the way, the market down 232 points. not a coincidence. meanwhile in the u.s., the chinese foreign minister is sitting down with secretary of state john kerry. fox business's rich edson is at the white house with more. rich what can you tell us about this? >> the state department officials say they expect this issue, the protests going on in hong kong, to come up in that meeting. the white house and administration have been very, very cautious what they have been say about this in public. secretary of state john kerry only aing that they believe in open society, highest degree of autonomy is essential for stability within hong kong. meeting right now with the chinese foreign minister and laying the foundation for president obama's trip to china next month. this as protests continue to swell in hong kong, up to six

days there. perhaps a sign they might be escalating. student leaders want the chief executive of hong kong to resign, if not they say they plan on expanding protests, occupying government buildings. this as the standoff continues and economy there lost billions of dollars according to local estimates. back to you. melissa: rich edson, thanks so much. bring in the panel with more o reaction to the riding protests in hong kong. steve moore, chief economist with the heritage foundation. he is a fox news contributor. he joins us now. we have monica met at that, from seventh capital. james freeman is back us as well. steve moore, let me start with you, very dicey situation for the white house. explain both side for me. it is hard for them to come out and stand up to have an opinion, right? they're getting pulled from both side. >> rich mentioned this came up, quote, during the discussions with john kerry and the chinese. i wonder if this came up after they talked about climate change? what is hard to figure out about

this? i think that the president and the white house should be standing with the freedom fighters. should be, basically criticizing what the chinese government is doing, which is basically suppressing a freedom movement in hong kong, which these people have every right to do. china is becoming more militaristic. i would like to see the white house take a much more aggressive, use moral as situation on these chinese leaders. melissa: absolutely but what is the risk of doing that? >> there isn't? melissa: monica, what do you think the risk is? >> they're one of largest debt holders to the u.s. it comes back to, are you putting your money where your mouth is. yes, we have long time looked other way while we get chief iphones and cheap barbies but human rights vibration for china are deplorable. it comes down to brass tacks. at some point you have to put everything aside and put ideals out. melissa: james freeman, what do you think? >> i don't think what great

benefits we're getting might be endangered here. >> right. >> you hear every day u.s. companies and western companies generally mistreated in china. outrage just use of antitrust laws. raiding microsoft's office. you wish we had a president standing up for freedom. you wish he stood up in 2009 during the iranian green movement and sham elections there. unfortunately looks like he is reluctant to stand up again. >> melissa, they depend much more on us than we do on them. have leverage, despite that own our bond. if they want to sell the bond, go ahead. melissa: what is risk of china's economy if this goes on. >> they risk us not buying their stuff? melissa: what is the fallout already happened, with the protests in hong kong? this is already, it is not going away quickly. impact of this protest in particular, the video that we're looking at right now, is coming home to roost. what is materially mean? james freeman? >> well, i think they have, they

would see a lot of economic upside. i can't believe this wouldn't be a positive message, a bullish message for investment in hong kong and on main land, if they were embracing more freedom in hong kong. melissa: okay. yeah. thanks to all of you. i want to take a look at stocks again. hovering near session lows. more than 1% lower. let'slet's go to nicole petallin floor of new york stock exchange. what is driving the trade? we're off the highs of the session but still down 228 points. >> it is interesting to watch. we're seeing selling across the board. you noted the dow is down 1.3%. manufacturing numbers from abroad and right here at home that were disappointing. you have geopolitical events. ebola hitting certain stocks. the selling is broad based. the stock market, talking about the dow, nasdaq and zap, have moved to levels basically from mid-august. the russell, in particular is now in correction mode, 10% from

all-time closing high. that is something interesting as well. everybody is flocking to the safe haven of treasurys and defensive play of utilities. now what are the traders saying? some say there is still room to the downside, seems that the sentiment is that we could still move higher in the last quarter which we have just entered now. you have a midterm lech unhad. market is becoming oversold. there was no catalyst for the rally originally any bayh so they're taking somewhat in stride. this is broad based selloff. melissa: nicole, thank you so much. two ships that didn't pass in the night? high-stakes game of bumper boats causing trouble in the suez canal. >> into plus upping the game of office perks. the company that is offering paid vacation before you even start working there. a run for your money up next. ♪ ♪

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melissa: from the u.s. to every corner of the globe, money is flying around the world today, starting in egypt where two massive tankers played an ill-advised game of bumper cars in the suez canal. the container ships collided near the mouth of passage way causing significant delays to the busy trade route. luckily no one was injured. we want to mention that. bow, look at that video. to thailand, proper food flavor something by government regulation. the prime minister moving to subsidize, sorry, standardized that food with a robot. specialized droid will test food against the best authentic dish is. landing in north korea where kim jong-un's mysterious absence may finally be explained. well, sort of. a report claiming the young

ruler has been hospitalized recovering from surgery on two broken ankles. adding insult to injury literal, the report said the injury could be due to rapid weight gain and wearing high heel boots during military exercises. i don't know what to say about that one. new survey finds an overwhelming 83% of restaurant patrons support raising minimum wage. this is despite repeated warnings that a wage hike would lead to higher food prices. and lower employment. steve moore is back to discuss this one along with james freeman and rob basso. i guess the patrons don't mind prices would be going up 25 to 50% depending what survey you look at. steve moore, what do you think? >> they do mind actually. the evidence is very clear that especially for fast-food restaurant like, wendy's and burger king and mcdonald's and popeye's, consumers are incredibly price elastic.

when prices, of french fries and hamburgers and chicken wings go up, people buy a lot less of it. that's why a lot of these companies can't afford to, it doesn't matter what they're telling in surveys. we know what they do from behavior, they buy less of the stuff. melissa: that is what is puzzling to me. james freeman, 83% say they're for it of those, 94% of the people for it describe themselves as liberals. that is shocking. james freeman? >> i think that poll is accurate because if you look at all the republicans who are scrambling this year on the campaign trail to support minimum wage laws just like democrats, obviously this polls really well. i think people have been guilted into the idea this is sort of a humanitarian issue. melissa: yeah. >> it is totally bogus. you look at those same fast-food restaurants, who is holding these jobs? it is entry level. they stay there six months and then they generally move on. it is not intended to support a family. it never was. melissa: i don't know how humanitarian you can be if you think raising minimum wage to

10.10, is good idea. you ignore the fact that cbo says half a million people could lose jobs, as many as million. that is not humanitarian you want wages to go up for some and many will have a job. >> that is exactly it. minimum wage is what it is. a place to start. not supposed to be high market from get-go. look at cities by seattle, by 2025, everybody is at 15 bucks an hour. that is not problem for employees. it is problem for employers. employers will have difficult time to make profits and stay in business. melissa: this makes richard branson unlimited plan look stingy. i love this one. one real estate startup wooing new hires with two weeks of paid before they start the job. you're hired!. here is the paycheck. take two weeks paid vacation out of the gate. the company's ceo says

ppre-vacatinos are not costing money because they prevent burnout. >> how can you be burned out if you just started working there. >> most people build in a week or two starting next position. melissa: you don't get paid for that. that is what the difference is. they say you will get paid. what is deeper in the article this is bay area company, of course. that makes lens. labor market is tight. two weeks counts towards your first year. you're just choosing two weeks paid vacation right out of gate. whole rest of the year you have us used up a big chunk. james freeman, that doesn't strike me very smart. >> not very smart. we keep being told, i know all the stats saying there is no inflation yet. this looks i can one of those wage pressures rising right? why would you need to give someone two weeks. melissa: incentive out of the gate. >> called signing bonus. not too many employers are offering that. what worries me is that the

federal government will want to make this mandatory. melissa: okay. ebola made its way to the united states. we were talking about. that is one of the reasons we're seeing this selloff today. we learn more about the patient in texas. are we prepared to handle the deadly virus? october not off to a good start for stocks. are things just going to get scarier between now and halloween? "piles of money," more markets coming up. alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.

over 12,000 financial advisors. so, how are things? good, good. nearly $800 billion dollars in assets under care. let me just put this away. how did edward jones get so big? could you teach our kids that trick? by not acting that way. ok, last quarter... it's how edward jones makes sense of investing. ♪ melissa: the first case of ebola has been confirmed in the united states. men in dallas, texas, hospitalized for the deadly virus as the cdc works to ensure there are no other pieces. john roberts live at the cdc in atlanta. but his latest? >> latest is the associated press is naming individual. we have not confirmed this yes.

yet. his sister is said to be a health care worker. we're told he is in serious but stable condition. that has pre-much been the way it has been with most of the patients who have come to the united states albeit the previous four or fifth being monitored now all medevac over here and arrived on commercial airliners. governor rick perry just announced five of the people expected to have contact this person, they were all in school. they closed schools in the dallas area this week. they were a synthetic in school. the likely hood of them passing on is low. this guy went to the hospital friday september 26 with a certified health care team but was discharged after being asked

where he traveled from. the news was not shared with the staff. >> that is unfortunate, i hope this now raises the awareness throughout the country with the publicity and attention this case is getting when somebody comes into an emergency facility or clinic and complains of symptoms compatible with ebola, you have to do a travel history. >> those are the guidelines the cdc has been hammering for monthsow. he volunteered he traveled from west africa and something happen in the system and the information is not passed along to him. he went back to the public very heavily infected for two more days. melissa: thank you for that report. more on how this could impact the entire country. we have dr. debbie from the medical center.

a lot of frightening details in the report we just got. i think the scariest is this patient walked into the er with symptoms, had contact with a lot of people and was sent away. how dangerous is that? who would you be looking for now? >> whenever you have a dro dropd ball like that, we should do more to figure out how to prevent it. in terms of the airports when this person is traveling from an area more high risk, we should make sure all the passengers no so they have any symptoms, let everybody know they might be at risk. melissa: what is the fallout from this particular incident? should they be looking for everyone in the hospital at the same time as this guy whether they were a patient or a doctor? and should we be worried about all those people he came in

contact with? >> just because some it was in the hospital or on the plane at the same time that is a little bit different. they didn't have a symptoms, those people are not at risk. it is something that is spread through bodily fluids when somebody already has symptoms. melissa: in the hospital he did already have symptoms. he showed up in the er and said i am feeling sick. there were the five people he came in contact with who were children who went back into the school and had contact with other people. >> in terms of the hospital, we have different standard precautions. people can have any number of diseases so we have to follow a lot of protocol to protect ourselves from these bodily fluids. i don't think they specifically have to worry because they were in contact with his blood they would get it.

that is where i would be a little bit more concerned compared to the health care worker. they are actually trained how to prevent contamination or prevent the spread. the children if they don't have symptoms, they are not contagious. everybody they came into contact with is okay. it usually takes a while for symptoms to develop but it is important to keep an eye on them, quarantine them and watch to see what is happening. melissa: every health care worker who came in contact with the others flown in from africa were wearing hazmat suits and these others did not know there's anything wrong with him and were not living in a bubble wearing hazmat suits. >> those are alarming when you see them it is very frightening, but the reason that is a standard in west africa is because they don't have a lot of what they have here. they don't have the same type of protections, it is a little different. melissa: we have to go.

thank you so much. rattling investors, shares of the drugmaker soaring today. along the use of the best baseball drug for patients with the virus. not just drugmakers, airline stocks down big on the day. joining me now, monica is back as well. airlines getting hammered, is that fair? does it make sense? do you see that as an opportunity or do you think they will be leased down for a bit? >> the former. this selloff is an opportunity. i feel it is not the bottom. the russell index has lowered to go. s&p 500 has maybe 2%, 3% lower. however i think we will finish the year strong. the market an end flow from the fear and greed.

it is truly ebola is honestly less than 50% of the cost in my opinion. you have the umbrella situation in hong kong, russia possibly restricting outflow. europe is week. this kind of a perfect storm of these four things happen. just too expensive. melissa: let me ask about the drug stocks in particular. opportunity or very dangerous. >> i would stay away because i don't think it is a good policy to go long on human test i. not a matter of if, but when. if this is not a huge issue in america, have already gone up quite a bit. melissa: the cost of attacking isis against the terror group rising by the day. how much is being spent? apple fanatics may have to wait a little longer to show off the fancy new watch. at the end of the day, it is all

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melissa: i am melissa francis with your fox business brief. "new york times" will cut jobs to minimize cost and invest in the digital future. layoffs include 100 newsroom positions and a number of jobs from business operations.

your timeshares down 30% so far this year, but up nicely on that news today. the bloomberg terminal going the way of the dinosaur? financial firms bought the deal helping banks create their own instant message service after spying allegations surfaced against bloomberg. more bad news for apple. production on the apple watch is behind schedule and manufacturing issues could delay availability until the middle of 2016 now. that is latest from the fox business network giving you the power to prosper.

melissa: isis not gone back that store. reports say the extremists are dangerously close to the capital city. the pentagon downplaying the threat. the consequences could be devastating. a senior naval analyst at the institute for the study of war, and a professor of georgetown university awfully former deputy assistant to president george w. bush. welcome to both of you. how serious is it, what does it mean if baghdad falls? >> it is extremely serious. i have a game plan to take it. if there's one thing isis is world master that, it is setting

off car bombs and suicide messages be it a tremendous damage they could do with the limited number of fighters. they have a game plan to take baghdad. i don't know when they're going to attack but it is on the dance card. melissa: what does it mean if they take baghdad, what does that mean? >> it is a huge political victory and psychological victory. this government has a problem, downplay, downplay and reality sets in. the president has never been square with us he claims his out of the loop or intelligence is faulty. but if baghdad falls, he has responsible it is that happen. he made it withdraw from iraq which allowed these people to come in and secure these areas. it is on obama's watch, he has to answer for that.

melissa: we are seeing huge mistakes. iraq he forces accidentally food and supplies to isis fighters that they were trying to get obviously to the other side. u.s. coalition airstrikes hit near a free syrian army command control center. it did not hit it exactly, but it was very close to hitting the people we are supposed be helping. is it even working? >> if we are not willing to put boots on the ground we cannot expect that the islamic state is going to be destroyed. we can hope it will collapse in that might happen 10, 15 years down the line but in the near-term have 35,000 boots on the ground. if you don't have somebody who can go head-to-head with them, we will lose this thing. your powers only useful if it is accurately targeted. we have flown about 2000

soldiers, maybe more. we are only getting 10% attack rate. we are not getting accurate targeting. melissa: do you agree with that? >> i do. we will be in this area for a long time. it is going to be up to my predecessor. melissa: thanks to both of you. a very important hour of trading. liz claman with what is coming up. liz: we are watching every tech and we are very close to session lows. this is an extremely important final hour. today in particular if you look at stocks, you can see a broad-based selloff going on meaning nearly every sector and every stock moving slightly lower today although any stock related to ebola is jumping at the moment and that is what we have to tell you.

one company has enough for certain number of people but not enough for all of you. the ceo is rushing to new york and will be in the studio with me to talk about how quickly and what it would take to ramp up production of the drugs they are making. jumping 7% bucking all the trends of what is happening. it is not just ebola dragging this market down. melissa was just telling about how closely isis fighters are right now to baghdad. what if the airport in baghdad were to fall? the fighting is 5 miles away. we have larry diamond to talk about that and so much more. melissa: thank you so much. what's today's selloff means for the rest of the month. and they give one heck of a wedding gift from george

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call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. melissa: it is october 1, after all, that could be a bad sign for investors. october has seen some of the most serious days. there was the epic 1829 crash that became known as black tuesday. and black monday when stocks plummeted 22%. the freshest is the tipping point of the financial crisis. here's what you need to know this october.he aisle investors. and joining us from the cme. we are not getting this month off, started very well, what do you think?

>> this is a theory that has been floating around maybe fund managers are taking profits at the beginning of the quarter as we are still up quite a bit this year. october is not a bad month for the market. it is those volatile moves and some of the big gains we have seen that stick out as they come in with a start like today. melissa: jason, ellis here goes up on the first day of the month. they are rolling over funds pushing it in higher. what do you think is going on this october? >> in an environment that the majors happening in the world, maybe that stuff makes sense as a reasonable explanation but if we open our eyes and look around we will see maybe other factors at play. it is not only ebola. major issues in russia and

ukraine. the baghdad airport may be taken down. it is honestly a huge deal if there are more cases. melissa: what is the number one scary factor? what is doing this? >> it is probably the situation in hong kong. a lot of selling in overseas markets driven by the escalation putting pressure on the market to close here. it is a big deal, but we haven't had a whole lot of macro data to drive this market. jobs number on friday, earnings next week and we're getting a better look at where we stand as an economy. melissa: here is who is making money today. how about mr. and mrs. george clooney? the newlyweds reportedly sold their wedding photos to the highest bidder. big shock there.

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in a million in investment assets, you can stay. >> we are watching the markets very closely. rough day. down 250 points. i hope you are somehow making money today. "countdown" with liz claman starts right now. liz: if you care about your money, you cannot miss what we are about to tell you. right now with one hour to go. we're not going to sugar coat what we are seeing, there is a broad-based sell-off. even the safest names packaged up in the dow 30 are down. all 30 stocks, including the safe ones, ibm, exxon mobil, procter & gamble, travelers, everybody is losing right now. investors appear to be rattled by risk around the world. first one single case of ebola scaring investors in the united states. but add to that the massive protests in hong kong, paralyzing parts of that city, and now there is word the demonstrators may be preparing a brand-new tactic, but don't