being down more than 450 points. it is 400 right now. that is the largest intraday drop in more than three years. look at those declines. all three major averages down about 2 1/2% on the day. you can see there, the s&p, the biggest loser on a percentage basis. investors rushing to the safety of bond. the 10-year treasury yield now at about 2%, just higher than. that it is the lowest level we've seen since may of last year. now we're going to hear from the fed. we're seconds away from the latest beige book report from the economist. we have an all-star panel standing by to react. there we go. go to peter barnes with the breaking news. peteer? >> well, melissa, the 12 federal reserve banks reported modest to moderate economic growth in this latest survey of economic conditions. this is the beige book that the fed will use at its next policy meeting at the end of this month when it is expected to end its latest round of quantitative easing. i looked through the report to

find, check on some of the issues that are concerning investors right know. exports for example, to europe and oil supplies and prices. i did find this reference from the cleveland federal reserve bank. it said, quote, that manufacturing, manufacturing firms there seeing lower production, attributed to seasonal factors or declining exports. on excess supplies of crude oil the bake book does report on that. it uses the term, excess supplies. reporting on its contacts in the period up to october 6th. it says, quote, oil exploration activity increased in the minneapolis, kansas city, and dallas districts. of course the minneapolis district includes the big shale oil reserves in north dakota. but again, this information was all collected before october 6th. we've had a lot happen since then. the dow, down, 1,000 points since october 6. unclear how these latest

developments in the markets will affect fed policy making at the end of this month. melissa? dierdre: peter barnes reporting in disguise. thanks to the market reaction right now. it has been a rough run. the dow diving more than 400 points. the a few seconds ago we were down 400. we're all over the map today. the steepest drop in more than three years. one of the big reasons, ebola. get you up to speed on very latest on that one, that caused a free fall this morning. a second person contracted ebola in the u.s. the patient has not yet been identified but it has been confirmed that the health care worker did travel by air before experiencing any symptoms of the deadly disease the beginning of this week that was. the president is set to meet with cabinet leaders in just over an hour from now. they will discuss the government response to this growing crisis. let's bring in today panel. fox business's charlie gasparino, "wall street journal" james freeman with us, cofounder

of who we use, spencer ant day is here with us. charlie? >> every time you take eye off the markets it goes down. melissa: amazing. >> some of the drop is attributed to david asman's report earlier that richard fisher, now he is a hawk but david reported exclusively that fisher has ruled out qe. look at it this way. melissa: premature is what he said. >> so means it will not happen anytime soon. here is what the market loves. the market loves printing money. it knows the global economy isn't doing so well. there is lots of fears out there. this is not good environment to be owning stocks if the fed will not ease. melissa: david asman will be out latewer more. i want to give you a couple headlines coming from david asman's conversation with fisher. the market correction doesn't mean the economy is in trouble. what do you think about that one, james freeman? >> i think this is an issue we talked about recently he is trying to partly get out in

front of his fed colleagues. he knows at love them don't have market experience. as academics they can get rattle ad bit. sort of like geithner was during the crisis where people on the street would whisper to him had scary stuff without the experience to know he would kind of overreact. i think that is what fisher may be concerned about from his fed colleagues. >> do you think the economy is getting better? >> slowly, yes, i do. fisher -- melissa: wait, wait. let me stop you right there. you look at data coming out of china. >> not good. melissa: seems like globally something has happened, something has shifted and we aren't all of a sudden getting better the way they are were. do you agree with that. >> i think europe is depressing. i think u.s. economy is plug along. >> china and germany and but the u.s. is bright spot in the global economy. >> they will not last. melissa: how will this keep going if they're staggering. >> bring this politically. one thing hillary clinton, what she is worried about big time

the fact that economies, economic cycles generally run in seven years. that 7th year for this economic cycle is coming to an end. >> this isn't a normal cycle. this has been such slow growth. >> that is the counter argument. >> we've had some other good recoveries but we expect it to be similar in that way. melissa: talk specifically about the big move we've seen today because it is staggering. charlie there were a lot of folks talking about a hedge fund liquidation. >> here's the thing. the shire deal. >> abbvie. now that deal, this is a little technical but here's what happened. a a lot of arbs got in the deal, profession traders thought deal would happen. go long the stock being bought and short the stock being sold that was acquirer. guess what happened? that deal didn't happen so all the arbs got crushed. they sold stock an went into bonds. that is why you saw the 10-year go down on basis points, on yield on 10-year go down. my bigger point is this, deals

like this generally screw up when the economy and markets are insane. >> go ahead. >> obviously the bad news is outweighing good news right now. one bit of good news oil and gas prices are falling. melissa: no, that is not good news. no it is not. >> don't overthink this. melissa: no it is not. >> let me finish my point. 70% of the u.s. economy, gdp is consumer spending. when oil prices and gas prices go down puts more mon in people's pockets. melissa: that is the good side of it. the bad side reason why it is happening there is global slowdown going down. >> global increase in supply of oil because of better technology. >> never one reason. >> no, there is shrink of demand in china in europe and -- >> let me ask you a question. why is it we get a lousy print, gdp print from overseas, the price of oil goes down? it is totally contingent on economics. >> but the result is a good one. things get cheaper for all kinds of consumers.

melissa: the result is a good one. the question which is bigger impact? >> all be saying it is horrible for the economy. melissa: absolutely. >> oil prices are going down. let's not overthink it. one of the only bright spots now. >> inflation goes down when the economy slows. you know that. >> we're not talking about inflation. there is deflation. melissa: let's get back to today's market right here. what are you hearing from folks about this particular selloff? will it continue? is it the bottom? is it the beginning? >> who knows. i think it continues until the fed gives us clarity on rates, where they're going. whether they do qe. whether richard fisher is obviously overruled. i will say this. when i talk to money managers that deal with high net worth people, they're getting a lot of calls from rich clients they're asking about deflation. there is issue, a little spook on deflation in the market right now. melissa: what do you think about the 10-year? what is the 10-year telling you? >> obviously there is a lot of fear. melissa: there it is. >> you talk about germany, you

talk about europe, not seeming to be sliding back into recession. u.s. consumer spending is not good. ebola is part of the fear factor. melissa: without question. >> why shouldn't it be? >> i talked to a broker at jpmorgan private client, they're actually advising their client to buy into these dips. that is one major bank advising their wealthiest clients, that you know, don't panic. this is an opportunity. over the long term. melissa: do you think it is an opportunity. >> i wouldn't discount the ebola threat. melissa: you would or would not. >> i would. this is economic catastrophe in the countries in africa. very easy to overreact to this. >> suppose people, at least in the short term, for a quarter, stop going to movie theaters theaters, stop flying. there will be sizable economic impact. i'm not saying it is real. >> we're aways from that. melissa: are we away from that? because they're talking about the second person that contracted in the united states,

flu on monday. talking about 132 people on the plane with this person when they flew on monday, tracking them down. who have they have been in contact with. she is now sick. >> friend of mine went by the dallas hub of newark yesterday, it was empty. i'm telling you whether it is real, not real, whether overblown, it is having impact. melissa: i want to point out there is some green on the board. shares of time warner climbing after ceo jeff bewkes announcing the company will more than double its earnings over the next several years. this is one of the stocks that has been getting some attention today. i don't want to totally ignore it. >> hbo announced it will sell content over the web, first time ever. something that skeptics of time warner never thought they would ever do. i think that is a positive sign. >> i agree. that story is bigger, that story if we didn't have the market going down as much would be the big headline. >> i agree. >> hbo going what is known over the top is game-changer for cable industry.

basically saying we'll bypass cable and puts more control -- >> content owners. >> with the content owners. here is the other thing. jeff -- melissa: jeff bewkes. >> i think he a good ceo. i know he turned down the murdoch deal. our boss, mr. murdoch and he is going to be criticized for that because i don't think he will be able to live up to his projections here but lo and behold this guy is basically taking this company. he is squeezing it down and he will sell it to somebody. melissa: we're going to pause for a second. >> where is the growth? melissa: we have market right now down 395 points. 60 days, that is how long ted no tackle ebola before it becomes something uncontainable. do you trust the government to handle it? we are going to be speaking to dr. ben carson on what realistically can be done. plus how ebola made its way on to a flight with frontier airlines. more "money," more answers. that's a big story.

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second ebola identified. lousy economic data weighing heavily. we heard the latest from the fed's beige book. go to nicole petallides pet on floor of new york stock exchange. we have jo ling kent at the nasdaq. nicole, let me start with you. wild ride down there today. >> no doubt, melissa, what a wild ride this has been. you're talking about a thousand points we've lost since last wednesday's close. the dow is down 380 points. we had been down 460 points, rough live a little less than that. you're seeing broad based selloff. everything is for sale. people are nervous to take risk. there are margin calls involved as well. we're seeing stocks shaving key numbers off the dow jones industrial average. three names, goldman sachs, visa, boeing, actually accounting for about 100 points of the dow's 375 points. we can see goldman down 3.7%. visa down 2.6%. boeing down 3.9%. worth noting that boeing is at a

new low but big picture here, you're seeing all major averages into negative territory for the year. the dow, nasdaq, and s&p. only transports is heading on. russell has been negative for this year but transports had a tough october, don't forget, but still positive for the year. selling is broad-based, energy, financials, health care weak. >> jo, what are you seeing? >> we're looking at large cap tech stocks here at nasdaq. they're all not doing terribly well here. look at intel. it is down about 5%. it is shaving seven points off the nasdaq composite. vodafone down quite a bit, one of the top losers of the hour. microsoft down, expedia down 4% and of course apple down 2.6%, really dragging down some big tech stocks. although the nasdaq overall is negative, the nasdaq 100 continues to be positive just slightly for the year. so we're looking at all kinds of different global growth issues here. nasdaq 100 remains a silver

lining for now. melissa: thank you so much. thanks to both of you. airline stocks reacting avenues of a second health care worker to contract ebola, flew a domestic flight from cleveland to dallas, just two days ago. we're learning that the victim did have a low-grade fever when she was traveling on that flight. although the carrier which was frontier airlines has disinfected the plane, twice. could this be a real threat to travelers? joining me is tom sullivan. he is our resident pilot. we also have charlie gasparino an james freeman back us. tom, i will start with you. what do you think about that? >> airlines say they disinfect the plane but what they do, vacuum an clean pockets, when you get out of the plane left their junk -- melissa: you don't think they got on there and -- >> i think they did full cleaning this one. >> what is full cleaning. they don't have hazmat people. they have cleaners and spray lysol and wipe doesn't mirrors. >> does lysol kill ebola?

part of the problem, we're not doctors. melissa: yeah. >> i will say this. this just shows the folly and why markets are trading low with all this baloney about the screenings. people can get through the screenings by lying, by taking tylenol, if they have a fever goes down. >> right. >> if you want to get through the screenings -- melissa: not only that. >> ramzi yousef got through a screening. >> there are real changes. first we heard she had flew but no symptoms. but she flew but had a temperature of 99.5. she was on the plane with 132 other passengers. this is what is making people so concerned. >> these are medical people. these are medical people that should know she was part of the group that was being monitored. she should know you can't go traveling, just like dr. nancy snyderman should have known. what is wrong with these people? they're the professionals. melissa: james, go ahead. >> there is argument that she shouldn't have traveled but we should remember based on everything we know at this point it is not that easy to transmit

it. the two health care workers it is concerning, you want to know everything how it happened? this is not like the flu. this is not like -- melissa: will not come here. can't get it. >> i talked to doctors. it is a lot harder to get than the flu because it is not really airborne. >> right. >> a lot easier to get than help-c and aids. it is somewhere in the middle. casual contact does transmit these things, talk to doctors off the record. melissa: why u.s. u.s. say we have 60 days to get ahold of this thing before it gets out of control. >> you don't want to cut off air travel. the best way to fight this, keep airplanes going in and out of west africa to bring people knowledge and skills. >> number absolutely disagree. absolutely disagree. >> want to contain it there. >> have military any them in or charter flights. you don't need them to be on united airlines to mix in with the populace. >> part of me does not want to

raise the specter of armageddon here. that is issue. i agree with james on that point. but i will tell you this, they don't know a lot about this disease, if you talk to doctors off the record they really aren't sure how casual the contact has to be to catch it. what does that mean? this is where it becomes a economic story. >> hang on. you talk about cleaning out a plane. frontier airlines says flight 1143, that was the number, received a thorough cleaning per our normal procedures which is consistent with cdc guidelines prior to returning to service the next day. it was also cleaned again the next day in cleveland. >> flight came in around 6:00 at night. she shows up at midnight, says i've got a problem here. so the plane that night, overnighted in dallas. so they went and again, they washed it down. they vacuumed. i'm sorry, i don't think that is same. the question becomes did she use the restroom? did she cough?

who was sitting next to her? was sitting in front and behind her? those kind of things again we don't know if she in fact sneezed during the flight? we don't know. >> a lot we don't know. there is true there is very little in the medical literature. we know that you don't get it being in the room. >> the woman got that taking off her hazmat suit. >> we're not sure how she got it. melissa: we'll have to go. market is down 331 points. right, we're off the lows of the session. we've been down more than 400 points at the start of the show. gaining back a little bit of ground but we've seen this back and forth all day. reminder, president obama is meeting with white house officials today at three 30 to discuss the u.s. government's actions against ongoing ebola threat. fox business will monitor this. we'll bring you the remarks as we get them. and the fox business exclusive scoop, david asman will join us next with what the fed is telling him directly.

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melissa: extreme declines for stocks. the dow, s&p down more than 2%. very own david asman has been speaking exclusively with dallas fed president james fisher. james and charlie are with us as well. you have new headlines. >> backstory of this conversation with richard fisher, of course he is reluctant going on air and he and i have relationships. i told him charlie gasparino, steve forbes, a lot of people -- >> he said who the hell is

charlie gasparino? >> are wonder whether there will be another qe as a result of this market downturn. he wanted to be absolutely clear you could have a market downturn without having any need for qe. he wanted to be clear it wasn't just him saying that. melissa: this is big news right here. go ahead. >> specifically said, whether it is me, janet yellen or the head of the european central bank, he spelled out to me draghi, draghi specifically. there is a lot of pressure on draghi right now to do a qe sort of thing in europe. draghi has been recision. according to richard fisher, draghi agrees with him. there is no need for qe. you can have a functioning economy without a qe. in fact it is up to the politicians to do what is necessary to spur growth, not the central bank. melissa: that is big. i want to emphasize this. he said to you yellen also agrees there is no need -- >> whether it is me, janet yellen, head of european central bank, and this is interesting, he wanted to make sure i got in the governor of bank of india. there is apparently questions whether india will go through

qe. he said we do not need more monetary stimulus. >> basically ruled out yellen doing a qe4? >> he did. what he did, he said janet yellen and i agree what is necessary for growth is fiscal reform, not monetary policy. melissa: what do you think of that? >> that is best news we've heard all day. >> not for the market. >> it should be. not for every trader at this moment but generally, if there is now realization that monetary policy can't do it. more money printing can't do i. you have to reform. this is a big problem in europe more so than the u.s. they have not reformed their economies. >> i will be honest with you. i don't doubt that he said that to you. i doubt that yellen -- >> sticks to that. >> think of this way. she is president obama's puppet to certain extent. what does president obama have in two years? he really wants to say i took the market from six to 17. without qe, this thing, i know it is bouncing back a little,

actually going down again -- >> because you're talking. >> this market is not very healthy market without more stimulus either. keeping rates where they are or doing another -- >> however, janet yellen is on record saying we do not take our cues from the stock market. if you believe that, perhaps as charlie would say i have a bridge in brooklyn. that is what both she and ben bernanke said. a lot of people disagree. jon hilsenrath who i have on in the 4:00 hour to talk about all this, he was the first person to say they are looking for market cues, the fed is. melissa: keith mccullough was on. >> terrific. melissa: said about the market the at some point the world equals eyes zero plus zero doesn't equal anything greater than zero. what about that. >> exactly. we have close to zero interest rates. you can't have more zero interest rates create something else. the zero interest rates -- melissa: they did what they can. >> we know that -- >> you need fiscal reform.

>> those are two arguments but there is a political argument. can hillary clinton run in 2016 with dow 12,000? >> good question? >> good question, charlie. melissa: we'll pause for a second. search is on for a vaccine as a second person in the u.s. contracts ebola. one of the nation's prominent research centers is on the hunt for a cure. plus fears over the virus stirring national debate. dr. ben carson is here to sound off on the ebola threat that is facing the nation right now. we've got a lot more. "piles of money" coming right up. don't go anywhere. [ female announcer ] you get sick, you can't breathe through your nose... suddenly you're a mouthbreather. well, put on a breathe right strip and instantly open your nose up to 38% more than cold medicines alone.

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melissa: the very latest now on ebola. the cdc director speaking moments ago. richard edson is here with all of the headlines. what did you hear? >> it is about a second confirmation in the case summary testing positive. another health care worker.

she also flew out of a flight from cleveland to dallas and started showing symptoms on the 14th. she should have never flown and they are implementing new to prevent people because she had contact with the first patient thomas eric duncan. now they're working with the hospital on their protocols. >> we are working very closely with the hospital in dallas to promote a safe environment for the care of everyone at the hospital, for the patient and for the health care workers. we have continued with our intensive investigation and interventions to understand what may have happened and to increase safety. >> this as the first live test of an ebola vaccine, their testing a number of patients.

this timeline taking until december that could be a long time, but as doctors here say that timeline has been moved up dramatically. >> once the revelatory agencies say this is safe to move on to phase two, we will progress from there. the timeline is being compressed, but it is unclear when a product might hit the market. we took six weeks to do what would normally take about six months. >> kenny officials developed this, this has been laying to an american-based company. another effort going on at the national institute of health, cooperation with glaxo smith kline, very close in maryland. they're working i vaccine. not raising one another, but trying to get this out as quickly as possible.

melissa: the united nations it turns out would agree. the head of the u.n. ebola emergency response says the world has 60 days to get this situation under control or face an unprecedented situation. the former director of pediatric neurosurgery at john hopkins hospital and a fox news contributor and he joins me now. thank you for joining us. what does that mean? we have 60 days to stop this, what does it look like to have stopped it? >> they are just recognizing the exponential potential of this thing to spread. like if you take two and multiply it by two, you keep doing that it does not take long to get into some very large numbers. they are just being realistic. we have known for a long time it has had this kind of potential. that is the reason several weeks

ago i said it was a real mistake to bring infected people into this country in any way. not because we don't have good protocols. melissa: now this happened, they are blaming the situation now in texas where we see it has spread, calling it a breach in protocol, what do you think happened there? >> the problem is you have human beings. when you have human beings involved, there are going to be breaches and problems because people are not perfect. in the case of the most recent person who is infected, flying on an airplane, i wonder if anybody told her she couldn't fly on an airplane. i suspect probably not. most important thing now the people who have contracted it in this country, we need to determine exactly how they contracted it and we need to make sure that door is closed

and nobody else can contracted that way. melissa: now we are finally learning the name, we can finally share the name of the patient be identified. she is the one that flew 29 years old, at the time they thought she had no signs or symptoms, now we learn she had a temperature and flew on the flight from cleveland to dallas fort worth. what is the danger on flying on a plane? not just if she sneezes, other people as we have seen in the market are worried. where do you come down? >> we don't have any evidence it spread by ways other than contact by bodily fluids. if one were to be prudent, one would look at worst-case scenarios and one would plan for worst-case scenarios.

we seem to think of best case scenarios and have to backtrack and say we were wrong. that seems to be a general pattern and that is very problematic. melissa: the cdc says they were not monitoring her at the time when she had her temperature go up and went on the plane with more than 100 other people, she was not being monitored. does that make you nervous there are other people out there who have symptoms and are not being monitored? >> of course. if i were in charge, i would assemble the experts in this area very quickly. i would say guys and girls, we need to figure out within a day or two what we should be doing with all these people who have been exposed and implement that right now. this is not time for a great debate. melissa: are you flying on

planes, are you looking around, are you concerned? >> believe me, i wash my hands a lot as i go into the bathroom, i flush with a piece of paper in my hand, you have to be careful, there is no question. melissa: we really appreciate your time. steep declines for stocks continue right now, down 300 points, had been down more than 400 so we are well off the lows of the session but that is a big loss right now. also, oil flirting with $80 per barrel. might be surprised who is really losing here. at the end of the day, it is all about "money."

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u.s. drugmaker reconsidering the takeover of european rival after treasury proposals to severely limit the move of u.s. company's overseas. investors weren't expecting them to backtrack.

melissa: stocks coming back off the worst levels of the day. dow down 457 points. right now it is down 293 points, good by comparison. nicole petallides trying to look at the bright side of this one. >> you are in the 15,000 range at one point, down nearly 300, basically all 10 sectors lower, the dow down 1.8% off the lows of the day. still accounting for 85 negative dow points. above the 31 level, you can see right now it is up about 20.5%. they do really well. what is interesting as i toss it back to you. the question of when people are going to buy. some say there is not enough

fear in the market you have to say i am ready to get in. people still so little tepid and nervous to say i'm going to buy. there almost needs to be more of a cleanse. melissa: oil prices down, but not out. $80 per barrel before climbing back a little bit. down 10% in the past month alone. you may be surprised who is getting hurt by cheap oil. of course this is fantastic news for drivers. everybody is very excited about this. wanted to point to the other side of the trade. talking about the catastrophe in the oil prices and the fact he thinks the saudi oil minister isn't serious enough or worried enough about the decline. what do you think?

>> i think there is a story under here that says they're going to try even the u.s. producers out of business. i think our numbers are rounded $60 per barrel. there is a little bit of a fight that we are not really seeing that could be something about pushing us low to hurt us, not them. melissa: we were looking on the screen, the audience oil minister. the breakeven price is said to be 80-$85 on brent. do you think it is possible these guys are trying to drive the shale drivers out of business? >> i see a lot of upside. not just people driving their car. everybody using petroleum to do

all kinds of commerce, the people hurt the most are not u.s. rockers. putin, russia, they have very high oil prices. you are squeezing the dictators, u.s. consumers and dictators a price cut. melissa: every dollar decline was seen oil taxes about $2 billion in losses for putin and russia. what do you think, scott? >> it can be a little bit self-centered on their behalf, but at the end of the day it is about the dollar and oil is still harbor chair for the economy and the economy is not doing well. i don't think these prices will port over to better retail sales and a better economy. lot of the reason oil is going down is the consumer doesn't have the money anymore and some

retail sales numbers coming in a little weak and this will continue that way. worst is yet to come. melissa: thank you so much. we're keeping a close eye on the market. down 302 points. what do you do with your money right now? next. you can never have too much "money," that is for sure.

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>> this is scary for people, sitting at his office or at home, let's be reasonable here. more people die in this country from the flu, 25,000 people per year, that have died so far. probably has died from ebola so far. the u.s. is growing, china, india, crawling about four, 7%. melissa: that sounds very rational. why do we see a washout? >> the fundamentals haven't changed. right now record low interest rate plunging. oil prices are going down, so all these things are positive fundamentals but the market is overdone because of psychology. now they have something to worry about.

melissa: are you sure the fundamentals haven't changed? you look at the data out of china. a slowdown going on elsewhere around the world. it will not be contagious in the u.s. where we are seeing a bit of growth, but not much. >> let's focus on energy, a fantastic story. estimated 75-$100 billion added to the consumer because of lower energy prices. equal to the obama tax increase last year. consumers will get that back in the pocket. melissa: everything is slowing down around the world, they don't have money and are not going out shopping and not going out to do things. >> it is nothing but a benefit, but if you want to look at europe slowing, that will be more attractive in the long run. scaling back in here. i didn't think it would go down for three weeks, but we can

always get back in with a clear head. melissa: gentlemen, thanks to both of you. no doubt this has been a tough day for the market. it preview for what is coming up in the most important our for trading. liz: i like how you looks better. perspective at the moment. that is what we will give you in the final hour where we know anything can happen. we could see an acceleration to the downside were a fight back to getting closer to the green so we will take you to every index trading for that matters. talking money experts looking, the s&p down 30 points, the nasdaq down 53, it is truly a lot of red on the screen. you were addressing that, so two experts here, one of them runs a funded over the past 10 years during which we know there has

been so much lyin going on. returned annualized 10%. he is going to be talking specifically about the technical level. need to worry about the most and are we seeing capitulation? and at this point when we have seen the 10-year yield fall below 2% earlier today, why not just buy intel? first on fox business interview with the dow component ceo joining us on fox, global turmoil, they do 80% of their business outside the u.s., will that affect the current quarter? plus, the intel chip in it.

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. melissa: president obama delaying his fund-raising and campaign events today to remain at the white house for a meeting with cabinet members on ebola just moments ago. white house press secretary john earnest saying the president felt he needed to be in the white house to fulfill his responsibilities. we're going to bring you any updates as we have them. that's a switch from the past. netflix said to report third-quarter earnings. after the ceo announced it will offer a stand-alone streaming service for next year. jo ling kent is at the nasdaq, jamie spencer back as well. >> off the session lows, we're

expecting eps of 93 cents a share, revenue of 1.41 billion dollars. there could be a silver lining if hbo continues to be competitive to netflix. maybe they will migrate to netflix as well. >> interesting, spencer, what do you think about netflix after the bell and the competition from hbo here? >> i'm surprised netflix is not down more than 1% and change right now. hbo saying they're going over the top is definitely the single biggest new competitor and threat they face when hbo releases that service in 2015. i think that people maybe underestimating the power of the new service. melissa: james? >> questions about whether hbo can execute. as far as netflix, priced for a lot of growth in the future. they have to pay a lot for programming. whether they keep that edge in terms of user friendly experience, big question. melissa: thanks to all three of you. stay tuned to fox business.

live coverage of netflix earnings on "after the bell" straight after this. that is all we have for now. i hope you are somehow make money today. the market is down 279. much worse earlier. liz claman and "countdown" starts right now. liz: lower 460 points, melissa. a slight comeback, breaking news, sell-offs the past few days but nothing like this. the dow jones industrial average at the moment down 274. this, as we receive word of another u.s. ebola case coupled with lousy economic data and a global slowdown. at session lows, the dow precipitously fell 460 points early in the day when the session opened. down 370, came back and started to fall worse. worst intra-day drop in more than three years. all of the major averages are shedding percentage points. about half a percent for the russell, but