all. david asman sitting in for neil cavuto today. >> i was screaming at my producer saying you got the wrong feed! it matched so perfectly. >> i thought, my goodness, you fooled me. thank you very much, stuart. we have another market sell-off on our hands. the market is down 193, earlier down 247. it's actually recovered a little bit from its downplay, but what is going on here? day after day. downmarkets, very often triple digit down on the dow. jonathan hoenig joining us to explain whether this is just the beginning of something or maybe we reached the low end. what do you think, jonathan? >> there's a number of worrisome signs, you're talking about the sell-off in china for a long time. china is the growth story for so many u.s. stocks. seeing the big names fall off the cliff in the last few days. twitter at a new 52-week low. netflix down 8% today. the old state stocks like procter & gamble not far from

the 52-week low. so the moment sum on the downside and because we haven't seen the big capitulation yet is likely more downside to come. >> by the way, i don't want to get too much in the weeds, netflix, a lot of people bought into netflix when it was way up. why is it down 8% today? >> you never know why, david, but oftentimes investing in trading is like working for the mob. ask too many questions? this is an enormous gainer over the last year, there's no question people want to get out of the stock as jitters in the market begin to take hold. >> from specific to very broad, september and october are the danger months. we remember october 29, 87, et cetera. however, this year is what we're seeing now what usually happens in september and october? >> well, you know what? there is no usual when it comes to the market. and trends tend to persist, as you pointed out, the markets

only crashed two or three times in history. so i think what's likely is not so much a one-day total destruction, but a slow trickle down, which is exactly what we're seeing. we've seen the big swings but haven't seen the downdraft that gets the front page news. when that happens, the downward trend is at its end. >> i'm wondering if we wait for the downmarket and then buy in then? >> it depends, david, on the individual situation. market is weak now, when you look a year, three years, five years out, there is every indication it's going to recover. the market was at its all-time high a couple of months ago. we're in the weeds now, but i think if you're looking anything further out then, a year, two years, likely you'll see the market recover. >> jonathan, thank you very much. with all the trouble with iran

with, china, et cetera, all we need now is greece. remember, we put that on the back burner. greek prime minister alexis tsipras is going to resign. let's go to nicole petallides on the floor of the new york stock exchange. nicole, i always assume you know what's going on in greece, maybe it's just your last name. what do you think? is this roiling the markets? >> we started to hear a little about this as being a possibility for this weekend and coming up. in fact, it's actually true. he's going to be saying he's resigning, listening for a press conference in the next hour or so. this would be tonight. the reason tsipras has to resign is syriza party, left party, he has lost the support there. they basically never wanted to bail out terms that we saw. 49 of the 49 members withheld support. the new vote will be on september 20th. that's basically what we're looking at. how does it roil the markets? brings uncertainty right back.

the oil tanking, what will the fed do? greece on the table once again. he secured the money in order to pay back the ecb and says we knew it was coming and it's coming now. >> when you're looking at the big things, the fed, looking at china, looking at iran, doesn't greece shrink to insignificance? >> yes and no. greece, there's no doubt, greece is not as important as the other things we talk about, but it was always that contagion, what happens next? that's the story. greece is a very small part of the eurozone but it's all intertwined and that is the story, the contagion and what happens next. in the meantime, the new prime minister, the interim prime minister may be the head of the supreme court in greece and it's a woman. so maybe the first greek leader will be a female. >> interesting as well. nicole petallides on the floor. thank you very much. the battle breaking out on the right, donald trump responding

to fbn's report about top tier contenders gearing up for an assault on donald trump, take a look. >> i mentioned it to somebody i'm hearing they're going to attack me. they said where did you get it? i got from charlie. i hope he's wrong, if he's wrong, i think i'll survive. >> to charlie gasparino, who broke the story and was the apple in trump's eye today. couldn't stop talking about you. >> donald and i go way back, and all the goods, thank god. you want to stay on his good side. >> you pointed this out in the interview with him. he loves it when the other guy hits first, because his counterpunch is so good. >> he's the floyd mayweather of politics, obviously, and known him for a long time. i want to point out this story is not wrong, and here's what we reported yesterday. i would say that rubio and the walker campaigns are going nuts over. this let's be clear what we were reporting yesterday. donors say money will be used particularly from the pacs,

maybe all from the pacs that these guys control will be used at some point after labor day to go after donald trump. the two campaigns they understand that are telling the donors this, i'm getting this not from the water cooler guys, you know some of my sources who are the donors, you know they're plugged in. the to do main campaigns, the rubio campaign and the walker campaign which is clearly discussing it, and according to the donors planning to do it. we should point out, yesterday after we reported this, the campaigns for walker and rubio in particular took great offense to this stuff and went nuclear saying it's completely untrue. we put that in the stories. we called them before i went on fnc about this. they got back to us 5:00, 6:00. we added, i wrote a story on fox business.com. the sources that were told is

walker and rubio campaigns are full of s-h -- and i won't finish the word. they are telling their donors and donors are telling me, they will use pac money primarily to go after donald. >> when they hear trump say he loves it when people come at him, doesn't it make them nervous? he can hit back, every time they come back, he hits harder. >> the bottom line is this, and i put not calls into the campaign, calls into the pacs to hear from them, there are separate spokespeople on the pacs. they have not gotten back us to yet. it's a double-edged sword. you want to wrestle around for donald, be prepared for war. that said, they might not have a choice. this guy -- i made this point on maria's show today. one of the brilliant things about donald trump he's rebranded all the competitors as wimps.

they look like stuffed shirt, even though they're brilliant. >> he made a gesture, an outreach to marco rubio. >> then he said if he engages in the attacks on me, i'll go after him, too. >> that would be a great ticket, trump, rubio. >> what makes him great is the ability to brand himself which he's done brilliantly over the years, now he's branded them. when it comes down to the hot-button issues that energize the republican base, donald trump looks like he's just killing it by making the other guys, particularly those three, jeb, rubio and walk -- walsh, look like wimps. >> he is the image master. >> and turned the image against them. >> great interview with maria today. thank you very much. oil hitting a six-year low today. to jeff flock on when we should expect to see relief at the pump.

jeff, that's the point. we see oil tanking all over the world, and no sign of it going back up again, but gasoline just kind of trickling very slowly down. >> and there are a couple of factors at play in that, david, as i look at oil now. the october contract, the most heavily traded contract, up 15 cents today, a very meager recovery from the low yesterday, and, you know, if you take a looked at the 10-year chart on oil, we were at $32 during the recession. some people think we're headed back there. i tell you, question about gas prices very well put. take a look at the numbers, we started to see a tick down again from where we were. look at numbers today, a week ago, 263, $2.65 and $2.66. things in indiana do not bode

well for gasoline prices any time soon. i want to hear from him, he's got good sources out there. i tell you, doesn't seem right, but that's what's happening right now. gas prices are not mirroring this falloff in oil. >> oil is going down into the 30s, we should have gasoline in the $2 range. >> you'd think. >> coming back to jeff in the next couple of hours. the united nations is going to let iran inspectors, iranian inspectors to investigate their own iranian nuclear sites. and we, the united states, have signed off on that in one of these side deals. what is up with that? we've got more details straight ahead. a look at the dow right now, a lot of the sell-off is in china, but should we be worrying about china? cypress semiconductor ceo t.j. rogers saw the last crisis

coming, is he seeing another one now? t.j. next. technology empowers us to achieve more.

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. >> not everything is red. gold almost 1150, depending which index you look at right now. it is at 1150. 1150 for an ounce. gold, that rescuer for so many times when the world is in trouble, people are flocking to gold. wasn't happening for months, it is beginning to happen now. a lot of things could affect this. what the asians are doing in terms of buying gold, hedge funds are thinking it bottomed out. for whatever reason gold is up bigtime, close to 1150 an ounce. is this a gop dream team

ticket? take a look. >> would rubio be an idea for you as a running mate? >> it could be, certainly could be. i like him. he's a nice guy. i've gotten to know him and seen him on the deis during the debate, and we had a really good relationship. we have a good relationship. we'll see what happens. >> imagine that, a trump-rubio ticket. remember what charlie just said, rubio may be about to open a new attack on donald trump. maria bartiromo's interview making waves. maria, i have in my hand, let me show the transcript, it goes on and on. i never printed out. i think i went through a wad of paper printing out the interview. how did you keep him on the seat that long? >> focused on tax reform and immigration reform and repealing obamacare and the regulatory environment in general in terms of dodd-frank and what he would do there. i think that's why he stayed as long as he did. the 45 minutes we got into the

economic issues that matter to people. >> but people are also interested in the political issues and the trump-rubio ticket is very interesting. you brought it up. i think the ticket neutralizes a lot of the negatives that trump has now that he's anti-immigrant, against the hispanic community. he doesn't know anything about politics, never run for office. rubio has on the local and national level and his age, he'd have a young guy on the ticket. >> that's right. marco rubio has done well. he did great in the debate that we just saw, and as a result, he's been getting high marks because he's got answers to the issues. i want to be clear, donald trump was noncommittal when i asked him who his running mate would be and cabinet positions as well. he kept going back to carl icahn. i had dinner with him and would like to deal with the issues straight out. i said if we allow this to run, would you deal with china, japan, because trump is very

clear he wants to redo all of the trade arrangements because the u.s. is on the losing end of the trade arrangements so he said in capacity carl icahn would be in charge of this. i don't know if that means ambassador, we know he wanted him as treasury secretary but that's the only thing he got up. >> i'm wondering if part of that is he wants to steer carl icahn away from backing somebody else. >> yeah. >> carl icahn has suggested a couple of other players, maybe if he plays up to carl nice enough, he won't be backing other players with his money? >> interesting, donald trump hasn't spent any money, this is a question charlie gasparino asked. i heard charlie, he asked a great question, he said you haven't spent a dime. the truth is people want to hear from donald trump. he has all this free air time whether it be on cable or the networks, he hasn't had to go into his own wallet. >> imagine how much that ticks off the other campaigns who are squeezing every dime that they

have for a little bit of publicity. he gets it for free. >> it's debatable whether he is going to spend money on this campaign and whether he will need to. at the end of the day, if he is going to have to spend his own money, will he do it? he said, yeah, up to a billion dollars. >> fbn knows, we're going to be running these slots. you gave me enough material for the next week. maria, thank you. in moments a judge could decide the fate of hillary clinton's e-mails. the question is employment record of former top clinton aides suspected of destroying their phones based on a court filing yesterday. we'll bring you updates when we have them. a lot more coming on a very busy news day right after this. [ male announcer ] whether it takes 200,000 parts,

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. david: another look at the big board, the markets are down, keep trying to recover. we get to about 170 down and then further down again.

the low is about 247, we are approaching the low point of the day once again. china is weighing in on the markets in addition to questions about the fed stocks continuing to drop as u.s. companies are warning everybody about the possibility of a slowdown. a global slowdown, affecting the price of oil. to cypress semiconductor founder t.j. rodgers whether or not he's worrying about this. t.j., you have intimate knowledge what's happening in china. some of the chinese investors are vying for companies that you want to buy as well. what do you think is happening in china? is this a serious break with the move towards free market capitalism? >> no, it would be easy to say we lost a bidding war to small chip company with chinese consortium, easy to say we're going against government money, et cetera. it is what it is. just a viable investment they wanted to make, and they're the largest user of chips in the world. if you believe in free markets,

you got to believe in free markets when you lose them, and not just believe when you are winning. david: so you think that china is going to work its way out? that the new entrepreneurialship is going to continue to expand? >> they certainly are making market-based decisions. i think china's greatest asset is that they can manufacture very cheaply because the wage rate is low, and what we're seeing now is the saturation of, in effect, efficient manufacturing. i believe they need to move to the next level of free markets to expand. i don't think they know that, but i believe it. i think they've sold what they've got, which is high-quality, low-cost labor, and that game will slow down over the next decade and they really need to turn into a true free market capitalist economy in order to take the next step. david: i hope you are right on that.

nasdaq is down to a greater degree than the other indices, down 2%, hit hard over the past few days. but what i think a lot of people are missing by focusing on the beta stocks like netflix, et cetera, is that there is a consolidation going on, particularly in your industry, with chip makers, you had a merger with spansion, is there a consolidation by chipmakers now? >> there is. i came in this morning and my screen was all red, and i've been running the company now 32 years. i've seen red screen days and green screen days off and on. if you analogize to a nuclear war, we're the furry little mammals that crawl into the ground and go underground and wait for the thing to happen and we crawl out and take over the earth.

the chips have to be cheaper and more efficient, that's called consolidation today. we just put together $2 billion company. we're taking $160 million out of cost because of synergy and, you know, we're on the wave where jerry sanders, my old boss from amd called chips the crude oil of our economy, the crude oil of electronics. that's what we do. so there's ups and downs, but i know if i follow things cheaper. my car has 100 microcontrollers in it, 100 computers, each as powerful as the first pc in a car. i've got a computer in the rearview mirror. so i know there will be a market, and i'm just working on cutting costs and getting more efficient. david: t.j., good to keep that in mind on a day like this. hit session lows, down 248 on the dow. good to keep in mind, this consolidation of chipmakers is

going on, that morris law exists, computers are cheaper, smaller and more powerful. t.j. is in the middle of it, the founder and ceo of cypress semiconductor. good to see you. >> thank you. david: t.j. was talking about nuclear nightmares. next the cia officer who says a nuclear nightmare may already be in motion. you don't want to miss this.. >> saudis already have the bomb, but people fail to remember -- david: hold on a second, let me emphasize that point, because that's an important point. you say saudi arabia already has a nuclear bomb? >> several.

. david: when we were in the commercial break, the dow hit session lows of 248. it's now down about 238. one of the things weighing on the market is this iranian deal that got a whole lot messier with critics of the deal getting a whole lot anger. we know iran gets to pick its own people to investigate potential nuclear sites. sounds like a joke. here's what donald trump had to say about it earlier. >> look, it's one of the worst deals i've ever seen like negotiated by babies, by incompetent people, and now on top of everything else, on top of the 24 days and the long period before you get to the 24 days on top of not getting our prisoners back, on top of all of the things, the 25 different

points they can inspect their own site? you must be kidding. david: to former israeli ambassador to the u.n. dan gillerman now. ambassador, did you believe it when you first heard iran would be allowed to use their own inspectors to inspect their own sites? >> no, david, i certainly did not believe it. when donald trump says you must be kidding, this is no kid stuff, and this is not something we should kid ourselves about. you're fox business news. you cover business and you interview and cover business executives and ceos every day. i assure you that none of the ceos you cover or report on would sign off on a deal like that. just imagine somebody negotiating to buy a company and relying on that company to provide him with information about the profit and loss.

no due diligence, no outside accounting firm, just take their word for it. this is if you're asking bernie madoff to say, you just tell us, give us an account of your investments and your portfolio. or asking charles manson to provide his own dna and bring it to you. david: i think the charlie manson analogy is the best one. as terrible as this is, this is just one side deal that was made that the united states signed off on. it wasn't made by the united states, but the u.s. knew about it and signed off on it. what other side deals do you think there are? >>, there is a very good question, i think one of the problem with this very, very bad deal is that the deal itself is very bad, but then you discover every day that the side deals, side letters, side agreements which are hidden from everybody. instead of being very transparent and accountable, this is a deal which is not

only full of holes but full of secrets, and at the end of the day, you're dealing with the world's most horrible perpetrator, financier, harborer of terrorism, terrorizing the world and trusting them to bring you samples, trusting them to inspect their own facilities? this is a joke! it would be a joke if it wasn't so tragic, but it is tragic. david: you know how crazy the united nations is. i have family members who used to work there. i know the insides of it. it can be a little bit of a nut house. i have never seen as crazy as the u.n. is, never seen them sign off on a deal where you allow inspectors to be from the country inspected by a world body. is there any precedent for this? >> i don't think there's any precedent, and you're right about the u.n., the u.n. is a

citadel of hypocrisy and a very, very crazy place, but i assure you that even the secretary-general of the u.n., ban ki-moon, a korean, a south korean would never sign on, on a deal like that with north korea. you ask him whether he would allow the north koreans to be responsible for examining their own sites, and he's a descent and very honest man, he would tell you this is something he would never imagine happening. this is crazy, this is dangerous, this is lethal, and i'm very worried by the naivete and the amateurism displayed and discovered every day about the deal which in itself is very bad and becoming worse every day we discover new things. david: ambassador dan gillerman, thank you for joining us, appreciate it. many fear the nuclear deal will lead to an arm's race in the middle east.

but former cia officer duane clarridge says the arms race has already begun. mr. clarridge, good to talk to you. the last time we talked you shocked everybody by saying saudi arabia has a nuclear weapon or more than one nuclear weapon. i'm wondering how the new details of the deal allowing iranian inspectors to inspect themselves will make that nuclear arms race work even more rapidly than it already has been working. >> well, i think, david, that the saudis are going to have to recalculate a little bit. there's an argument as to how many acquired as a result of paying for the development of the pakistani bomb. between four and seven. are the bombs in saudi arabia or bombs nuclear devices in saudi arabia or not? if they're not, i suspect the saudis have got to consider getting them to saudi arabia

given the instability in pakistan, and they also want to consider building a capability of their own, as will i think egypt and certain turkey. david: let's talk specifically what we learned yesterday, does allowing the iranians to inspect themselves. their most secret nuclear facility, does that virtually guarantee them coming up with a bomb of their own? >> i think already the united states negotiators who are totally incompetent and never read the book on how to negotiate with iran, which is october 1980 by the only iranian expert in the united states george kay, if they read that book, they might have done it a lot smarter. i think that they have already decided, they, who's they? obama and his frat boy there, kerry, have already decided

that the iranians are going to get the ball. that has never been the issue. people just miss it. once in a while you see an item in the press or somebody talks about. the real issue for obama has been what they call in the white house under the code name the kissinger protocol. and that kissinger protocol is that obama wants to emulate nixon. in other words, nixon's great foreign policy legacy was bringing the chinese in from the cold and kissinger arranged it. david: right. so they want to do with iran what nixon did with china. i have to ask a final question, duane, how does the next president deal with all of this? quickly. >> i don't know where he begins. frankly don't know. because i don't think we've seen the end of what's going on

on now. david: yeah, we do have another year and a half of the current president. duane clarridge who knows where he speaks of, former cia senior operations officer. appreciate it. talking about china. take a look at alibaba hitting another low, down 2.5% today, down 32% just so far this year. about 71 bucks a share. but was at $119 a share at its height, that was back in february, in fact. . trump telling maria bartiromo he would build the great wall of trump as he calls it to keep out illegal immigrants. why our next guest says giant steps like this are needed?

at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping.

. david: we've got breaking news from the southern border. the department of the homeland security reportedly releasing violent illegal immigrants back

into society after they've committed crimes, arizona republican congressman matt salmon is uncovering this and demanding that the white house stop this. congressman, tell us the very latest about this. we've heard about it before. what are the latest stories? >> well, just within the last few days, they released in one of our counties, three criminals onto the streets of arizona. one who murdered an individual out in the desert. stabbed him to death and poured gasoline on him and burned him, and then another one that beat his infant daughter. these are three criminals that have been released in the obama catch and release program with illegal aliens. by the way, it's epidemic, over the years 2013 and 2014, they have released over 66,000 criminals back into the american streets. over 100 of them were

murderers. numerous were too many to count were sex offenders and kidnappers. these are not jay walkers that are being released and seems like there's a double standard, if you're an illegal alien, you are treated better than the american public. this has got to stop. at the very least, if we can't incarcerate them, they should be deported back to home country, and if we pass the other bill i introduced, kate's law that makes it a mandatory five-year sentence, if you're deported and come back into the country, we'll be able to get argues hold of them. david: this is a personal opinion, i'm grateful to you for pushing kate's law. whether anyone in the administration, at i.c.e. or anyone listening to you accepting these figures and saying something needs to be done about this? >> you know, so far it's been falling on deaf ears. this is not the first letter i've written.

a young man, a 21-year-old man was working at one of the qt's in my district and was shot in the face by an illegal alien let out after he committed other crimes, among them rape and robbery, and then he shot my constituent in the face, killed him, stepped over his lifeless body to steal a couple of pax of cigarettes and then we remember kate steinle in san francisco. david: of course. >> this is all over the country. david: but congressman, forgive me, to press the point. nobody at the white house, nobody at i.c.e. is taking your calls right now on this? >> nobody is responding back to us, to the questions that we posted. we're asking them why in the world are they continuing this dangerous policy of catch and release that's just as dangerous for the undocumented people here in this country. anybody that walks the streets of america is going to be in harm's way. david: any innocent person is at risk because the criminal is on the loose. >> that's right.

david: we've got it leave it at that, congressman. >> okay. david: thank you very much. i know you are very passionate about it and deservedly so. appreciate it. >> thank you. david: back to the buzz fox business is getting from donald trump. trump running of course as a d.c. outsider and telegraphing that he would bring in more outsideers. take a look. >> spoken to carl icahn, a good friend of mine and others of the great deal makers and negotiators and they're going to represent me, if i win, and they're going to represent our country on trade deals. we're going to get the best dealers in the world, and we have them. david: to billionaire investor on whether washington needs an infusion of business voices inside the beltway. john paul, i know you have different views on donald trump, everyone does, supporters do. wouldn't it be nice to have someone in the white house who actually knew how laws and regulations affect business? >> i agree on this one.

i think that is brilliant. i had a big discussion with neil cavuto about this a couple of years ago, why doesn't our country have business people that have run something? unfortunately, and no disrespect, a lot of our politicians, especially at the high end have never run a lemonade stand as they say. they have no business experience. they're politicians. they promise things sometimes and maybe mean well, they cannot deliver because they don't know how to do it. our nation needs more business people coming up with solutions because that's what we do! >> you know, even politicians who become businessmen, that happens, george mcgovern who ran for president in 68, he became a businessman, he left politics, ran a small inn in the state of connecticut. eventually was so frustrated by the rules and regulations that he was a part of. he was one of the sponsors of some of the billses that when he was a businessman he was against.

even politicians when they become businessman realize that the rules and regs don't work. >> boy, did you get that one on the dot. i wish he would have been a businessman before going into office. many politicians say oops, i wish i knew. that it's how the political system works. from here on out, especially during the big campaign program going on for the next year, tell the nation not just what you want to do, how you plan to do it, and even though you don't have the experience, how you're going to pull this one off. and say at the same time -- they should do this in writing, i started this during the last election, the accountability pledge. i will do this, this and this, and if i don't do this, this, and this, in my first year, i will tell you why and a good explanation of speech me because why i lied to you. if they're accountable, we may have good people.

david: all politicians are liars, they lie partially in order to get into office. at least a businessman would know whether a rule or regulation was going to help or hurt business, that would be a delightful bit of fresh air inside the beltway. john, we got to leave it at that. john paul, thank you so much. i know you worked hard to get to the studio today. appreciate you coming in. >> you got it. david: markets continue in sell-off mode. the dow down 253 points. session lows. the fed is watching this very closely. some say they're too bothered to how the market reacts to rumors about what they do. others say not enough. we have a debate on that coming up. it's more than a network and the cloud.

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. david: look at the whole market, way down.

individual companies, walt disney getting close to losing triple digits here. there was a downgrade by bernstein and company, that led to a 5% drop in disney's stock. netflix is a darling of media stocks, down 7%, it was down earlier over 8%. so netflix and all media stocks getting hit hard. meanwhile, all of this weighing on whether the fed should raise rates? to money guy keith fitz-gerald and economist lindsey, keith, you know, i think and i think you're in the same ballpark that more than taking cues from the stock market, the fed should take cues from the middle class of america. they've been getting killed, hammered. the fed says there is no inflation, we know there's inflation. you see it at the grocery store when you go there. commuters see it when they're paying more for bus fares. renters see it.

rents are going way up. so a lot of the policies of the fed are based on false notions, correct? >> yeah, the fed's models are so badly broken, it's appalling, breakfast costs 60% more now than five years ago. there is inflation everywhere except where the fed is looking, anybody that buys food, pays for medicine, education, the middle class is eviscerated. and that's bad. david: lindsey, when the fed looks at what's happening today in the market, they're more beh.

>> we are repeating the lost decade there now that it's third decade here. there is no way. to the earlier guests point, they've got to focus on really rung the business of running this country, not the political mess, not the fiscal policies, decades of policies that have to be unwound. real money makes a difference, they're playing with academic models that are broken. david: japan had a 0% model and they've gone nowhere in that time? >> one of the biggest concerns we fall into a lost decade. remember we've been here at 0 interest rates for six years. and we haven't been able to insight positive growth beyond that bare minimum of 2%. remember, we should be getting 1% from productivity gains.

patting themselves on the back is disconcerting that that is how low the bar has come. david: pathetic, and as donald trump says we all deserve more, not to put a plug in for donald trump. but he's absolutely hitting a cord there, but americans realize we should be doing a lot better. appreciate it. breaking news on drones, the "washington post" reporting faa records show a surge in near collisions between airplanes and drones in the united states. there have been 700 incidents of small drones disrupting air traffic all over the country including penetrations, some of the most guarded airspace in america. yesterday we told you about drones being sold at airports. now we're hearing this stuff. it's all pretty scary. in just a couple of minutes, the fate of hillary's e-mails will lie in the hands of a single judge. will the state department be forced to hand over at least 30,000 of her e-mails to you, the public?

we will find out in just a moment. can a business have a mind?

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. >> the whether or not he believed is getting worse, folks. we've got another market selloff on our hands. the dow jones now down 270 points. i'm david in for neil cavuto. stocks at a six and a half low if you're looking at a low point to buy, and this may be it. on the other hand this may have a lot further to drop before it settles down. let's go in now to what's happening in greece. this just in. greek prime minister alexis is going to resign, let's go to nicole -- no? okay. i'm sorry. we have breaking news from washington d.c. with our own peter barns as we take a look at these pictures of siffrous. frankly all eyes here on the political campaign. what's the very latest on

that? >> well, there's a hearing in a court case that just started an hour ago, and it's for a freedom of information act lawsuit by judicial watch that is seeking more to learn more about the clinton aid. appointed a special government employee for clinton after left her staff job in the department of 2012 for martin leave. at the same time aubman worked for consulting term with deep ties to the clintons. earned $355,000 at that foom r firm while at the state department in that advisory role which -- and the department did approve that consulting work while also paying her 35,000 dollars. critics say it gave her access to inside information at the department. she was denied using such information skile a consultant, secondly another

judicial watch lawsuit that possibly destroyed black barry devices used by her and another former clinton aid. the department said in a court filing that because the aid's black barriers were out decade models, they would have been destroyed under standard operating procedures. and they disclosed it never issued a government device to clinton while she was secretary of state. and quote if the state department was not providing secure e-mail devices to mrs. clinton, who was? best buy? target? mrs. clinton clearly did whatever she wanted without regard to national security or federal recordkeeping laws. now, these cases and the on going clinton e-mail controversy could be costing clinton support among democratic primary voters in three king swing states, florida, ohio, and pennsylvania. and the poll today showing her down double digits in each state. >> peter barns, thank you very much. meanwhile hillary clinton is

losing ground, and these swing states are all important as we've seen in these polls, chris bedford says the longer the e-mail mess drags on, the more she is going to keep dropping. chris, so far she's kind of held her own but these now polls are disturbing. why now? has it finally reached a tipping point? >> i think she's in serious trouble. the honest levels and the amount that the american public trusts her, the lowest candidate in the field. the only person -- she's rit behind even donald trump who americans have had a difficult time trusting so far. and she's in trouble because she has the intelligence community upset. she lied about it and then blamed them for it. she's got zero friends in this and i don't know if anyone can protect her. >> you bring up an interesting point, i wonder if some of those are beginning to leak information about her that is very negative about her. what do you think? >> i'm starting to hear those rumors, i haven't been able to confirm them yet. but i talked to two people today that that was the case.

she's made enemies in the community and they're going to come after her. but to the states she's behind in, in pennsylvania, in florida, in ohio, these are important states. she is losing to marco rubio and every single one of them in head-to-head. she's losing to jeb bush in two of the three. and if she doesn't win two of those, she's got an win the presidency. >> and she is a tenacious woman, chris, as you well know, and i'm wondering how she thinks she's going to recover from this because i don't think she's about to give up. >> people are kind of hoping -- democrats are kind of hoping that she learned the lessons of her last failed election against barack obama. so far she hasn't shown any of that. she hasn't shown she learned any lessons and republicans are really panicked when she was secretary of state, her approval ratings were high. but people always forget that people love hillary clinton until hillary clinton comes back on the scene and her approval ratings always plummet. >> final question about donors. are they beginning to back out? >> some donors are starting --

that's the thing. hillary runs a very -- the clintons run a very strict camp. if you're not reasonably calculated to lead to the @ loyal to them, they will come at you hard. ask the clintons are going to remain powerful in the democratic party. so it's going to be very difficult for joe biden to peel them off. but a former staffer just joined with the biden recruit team and i think he's got a chance. because as they get more nervous, they want to win in the end. >> chris, thank you, chris. good stuff. i appreciate it. >> thank you. >> meanwhile the big boost for the we need to florida strategist s joining the movement to get the vice president in the race. so hillary's e-mail controversy fueling some of this push former bush campaign director mark has a theory about all of this. go ahead, mark. >> well, david, take a look at it. if you remember william sapphire famously called hillary clinton a liar. now we're starting to see a key measure of character showing up in the polling. so a fox poll out just the

last couple of days shows that democrats when they were asked if they think hillary clinton was lying or whether she told the truth, only 3% of democrats believed she was telling the truth about the e-mail server. so take a look at the numbers, june 1, the first time bernie sanders showed up in a poll, hillary clinton had 69%, 69%. and joe biden had 12%. today, hillary clinton has slid now to 49% for the primary and joe biden is still at 12%, and he's still not a candidate. >> yeah. well, it is true. we have been here before. >> yeah. >> we've seen this before, frankly there was a draft entitlement brought up against her before and then monica came in and saved that from going public. but i'm wondering when we begin to see the gop pick up on all of this material now. what are they waiting for? are they waiting for the press to die down a little bit on hillary before they come out with these ads? >> yeah. the truth is, i

don't think they really have to because right now hillary's opponents and enemies are not coming from the right wing conspiracy. obama would not conduct an investigation if it did not want to. and i believe what we're seeing is hillary clinton carrying on the legacy and my theory is joe biden will enter the race mid-september because the big donors, the elites of the party, they cannot take the risk of a socialist being nominated for president if indeed hillary were to stumble in the next 164 days between now and iowa. >> well, very quickly. we know that the white house was a source for originally that new york times story. do they continue do you think or have evidence to conclude that they're continuing to put out information critical of hillary? >> well, it's completely antidotal, but republicans can watch this play out in court

and behind the scenes within the administration. i really believe that there has been this friction between the obamas and the clintons all along and president obama believes that particularly concerning these problems, a very flawed candidate under investigation by the fbi that joe biden is the guy who will pick it up by mid-september, i guarantee it. >> we will see. thank you very much, mark, we following breaking news as you heard at the top of the hour. greek prime minister tsipras is expected to hand in his resignation. how greece is responded to the demands from the european community. we are monitoring all of this and how it is affecting our markets, which are in very bad shape right now. today's stock drop has a lot to do with what's happening in greece. but of course what's happening in china with the big

devaluation and repeated liquidity that hasn't done anything to stem the bleeding of stocks over there affecting stocks over there. elizabeth macdonald joining us now. how much longer this stuff in china? >> that's exactly what wall street analysts are talking about right now. that's the water cooler talk and what they're talking about is the water drop of the shanghai composite. this comes as china's government is redirect a state of enterprises to buy stocks. so what if they were not buying shares over there in china? at the same time we were talking about the black swan event, will it be china, greece? what it really is is the strengthening dollar is hurting markets overseas. we're looking at 1998 action and 2013 action. what emerging market are we talking about that's cracking up china. china's an emerging market. >> even though it's the second strong economies in the world. >> 10% of america's purchasing

consumer buying power, that's what china has, just 10% of that. 7,000 per capita over there in china. and what they're talking about now on wall street is the dollar is trading at the highest levels since march -- i think 2003. and that dollar continues to strengthen, you're going to see the shanghai deposit continue to raddle and act very skittishly, they are basically in worse shape than the junk bond rated company, and china has out paced gdp growth for the past five quarters. we haven't seen that upside down action in china for quite sometime. they're talking about 4% gdp growth right now not 7%. that's what city group is also talking about right now. >> is the chinese miracle dead. >> it's not dead? it's not as pumped up as everybody said. what really gets me is -- we did a story that china will not overtake the u.s., and we got blasted on the internet

for that. well, guess what? china is not going to overtake the u.s. in terms of this power authority because it has to deal with a lot of the debt problems right now. >> the people are still poor. >> that's right. >> they're not allowing the power to go to the people from the government. >> that's right. >> thank you very much. >> sure. >> well, donald trump talking tough on taxes. but does grover the tax pledge man have a problem with this? the antitax crusader on trump's antitax push in a moment at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason?

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>> twitter just another stock getting caught up in today's shares touching a fresh

all-time low of $26.56 tumbling about 5%, you recall the twitter at $26 a share back on november 7th, 2013, shares now just above 1% above twitter's ipo price. it was as high as 73 back in september 2013, but it has fallen a long way since then. and then there's this. >> at a minimum we have to simplify our system, and i would like to see a reduction in taxes, and he have to simplify our taxes. >> reduction in corporate taxes -- >> absolutely. a reduction in all taxes. but especially corporate and especially for the middle class. >> the donald asking you to read his lips on tax cuts. a big promise considering he's pushing some costly reforms to the antitax crusader and whether or not he's buying into this. grocer, are you going to get him to sign one of your no tax pledges? >> well, what he said, his

position in that discussion was that he would oppose tax increases because he thought the problem was spending, which was the next point that he makes in that interview. that's entirely consistent with the pledge. i was very pleased he was talking about tax reform, going to compete internationally, we need to that needs to be down, not as obama wants. so he was asking when he was asked about the pledge, revenue neutral, not a tax increase, exactly the right question, exactly the right answer. tax reform has got to be not a trojan horse for a tax increase. >> and, you know, he said all taxes. he was across the board tax cuts the kind that ronald reagan had. that will fuel this credible economy back into the mid-'80s. >> absolutely.

he said a couple of things, doing tax reform to get the rates down, and then he also said and that's what the pledge is all about, never let tax reform be a trick to raise total taxes, and he said he won't do that. well, if you put that in writing, that's the pledge. so hopefully he'll feel comfortable signing the pledge. he just said it. it is the default position of virtually all republicans, it just takes a while for some people to put it in writing. because that's a big commitment, should be viewed as one. >> well, some people are, for example, the wishes you have mike huckabee who wants to go to consumption tax. what do you think about that. >> well, that's a very interesting and bold position. he also made it clear he would never allow it to be an overall tax increase. you can get to a consumption tax, which is what the fair tax, sales tax people want to do. simply by exempting investment

and savings from taxable income. i'm more comfortable reforming the present system down than creating a parallel system because something could happen. we could end up with both the income tax and the sales tax. and then we're france. that's what france is. >> that's true. >> france is america with a value added sales tax. >> yeah. and economists say you don't want a federal sales tax because they can reap raising them so easily. but what about the dumping the irs? we have not only the problem with the irs, in fact, people don't like to pay so much to it. but you have all these scandals involving the irs, the hacking that's involved in the irs and the fact that they operate totally contrary to the notion of you're innocent until proven guilty. to them you're guilty until proven innocent. >> yeah. what we have with them is complete incompetence, no defense against hacking and corruption. they were targeting people who they didn't like for audits and deny them tax status politically.

when you talk to donors about the romney campaign and other republican donors, they're all getting whacked with audits. it's a real -- it happened during the clinton years, i served on the commission of restructuring the irs, we have a mild version of what we have now than back then and the clinton people are pulling the same game. >> whenever you have an institution like the irs, no matter how many laws there are using it against a political tool, politicians will find a way to use it as a political tool to go against their enemy. so shouldn't that be your next pledge just getting rid of the irs? am. >> well, i'm in favor of bringing taxes down to the point where you don't need a police state to enforce them because they're not that high. but we can i think require transparency. what bothers me about the scandals during the obama year in the irs is there was no whistle blower. only people from the outside found out about this. >> right. >> nobody said said i'm appalled, let me bring this to

the new york times attention. that means the corruption goes very deep. >> grover, good to see you. thank you very much. >> good to be with you. >> meanwhile we have more good news. housing sales of existing homes sorg but is the administration about to send us right back to where we were before the last recession? that's coming up

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>> what happened i think -- i would have spent about 10 military by this point; right? >> right. >> i spent nothing. >> you spent nothing? >> no. i've spent nothing. zero. i mean zero. >> you are the best politician out there. >> no. no. -- >> think about that. the guy who has got over 20% of the vote among 17 candidates hasn't spent a dime. former campaign director o'connell and how jeb bush should be deciding. doesn't it particular you off a little.

you probably spent so much of your time fundraising, trying to figure out ways -- this guy's got more publicity than any of the 17 candidates, everybody already knows his face, and he hasn't had to spend any money at all. >> well, it's not true that he hasn't had to spend a dime. he loaned his campaign 1.8 million and as of june he had 500k on hand. and his burn rate is extremely low. and you're absolutely right. there's been nothing logical about trump's rise and the other candidates are basically beside themselves and the key to trump's rise he's been able to play the media like a fidel on a 24/7 loop from c-span to fox business. >> he's good television and the other guys are politicians. >> you're absolutely right. he is entertainment, and it's not just his message. he is connecting with a lot of people and frankly we're all hanging on every word. i mean he was just patrolling jeb bush the other day in new hampshire with nothing new

to say and that in and of itself made news. the question is whether or not this media ride is going to continue for donald trump. >> well, okay. here's the point. eventually he's going to have to come up with big bucks. eventually when you're running for president, when you're running against the democratic nominee if he becomes the nominee, he's going to need a lot of money and then the question who contributes to a guy with $10 billion? >> well, look, there's a lot of republicans in particular. they may not like donald trump, but they certainly detest hillary clinton and those are the folks who are going to don't to him, if he can show he can continual beat hillary clinton in a head-to-head match up. he was trailing her and now up by 5 and doing good in key states like florida and iowa against her. >> so even though he claims to have $10 billion and he's clearly a billionaire, even though he's a billionaire and would be willing to spend a billion of his own money, do you think people -- he would find people who would don'

donate money to his campaign. >> yes, i do because if he spend a billion of his own money, he would be broke to take on hillary clinton, you're going to need a billion-dollar, two billion. he recognizes this but the bigger key in the republican primary at what point is he going to have to raise money because at some point he's going to have to run a ground game not just an air war and that requires blocking and tackling at the polls. >> i think you heard say total all in, he's going to need 1.5 to $2 billion from now until the time if he becomes president for him to be president; correct? >> that's absolutely correct. and, again, it depends how much he spends in this primary and obviously whether or not he's actually the nominee. >> by the way, how much did mccain spend? >> mccain took matching funds, so i want to say it was around 700 million. >> 700 million. so the times have changed. >> they certainly have. >> more than double that right now. >> that's absolutely right. and it's going to continue this way, and i'm afraid that by the time we get to 2020,

you may need five or six billion because essentially we've jumped from 750 million, 780 million, to 1 to 2 billion now and frankly you've got to understand something else. it was barack obama who started this because he didn't take matching funds against john mccain. and now in the super pack era, it's how much you can amass and hoard. >> the guys who are against big money in politics -- >> they're against it until they need. >> i know. good to see you, ford, thank you very much. >> thank you. >> and checking again on the markets in this downturn market. we're still down about 230 points right now on the dow. it's not the session lows, but it's close to it. let's go to adam shapiro at the new york stock exchange for the latest. >> yeah, the low was about 40 minutes ago, down 281 points at 17 welcome back 067, and some of the things to keep in mind today, 18,003 is the

six-week high, and he said that there's a lack of buyers, people are just nervous. take a look what's happened with gold, gold up $24, that's the biggest jump in roughly five weeks. some of the stocks again here today. alibaba hit a new all-time low, down 32% since it ip (o) back in september 19th of last year and then you can see some of the dow loosers today, disney, apple, boeing, keep an eye on again according to ben willis, the s&p 500. we hit a low in march '11, and he believes there's opportunity to jump back in when we hit that number. back to you. >> by the way, gold is up big time, up $25. meanwhile market on your calendar. this is a first. we've got a hurricane in the atlantic. hurricane danny has sustained winds at 75 miles an hour.

that makes it the most minor kind of hurricane, it's a category 1, it's still far out in the atlantic, may not do any harm. we're going to be tracking it, though. the first hurricane of the 2015 season, august 20th, 2015. meanwhile experts saying oil is going to crab into the $30 a barrel market. but why stop there? jeff flock weigh in on exactly how low oil can go can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?

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david: breaking news from the defense department. pentagon is looking foresights to place gitmo detainees. ash carter, the head of the defense department, also saying he agrees with the goal of closing the detention facility. so they're already beginning to look for places here in the u.s. to put those detain ice. meanwhile oil is up right now. but it did hit a six-year low earlier today. to jeff flock, phil flynn, exactly what is happening. when finally we get a break at the pump. jeff, what about that? when are gas prices going down the same way that oil prices come down? >> i don't know anytime soon but expert is phil flynn. to me the headline is hurricanes. >> you're cold hurricane yesterday. that was a different version of a hurricane. >> oil bulls love hurricanes. >> they do.

they love them, they hate them, there is no doubt about it. we did show respect to the first hurricane of the season. as soon as that became official, we saw a pop in the market, about 30 cents in crude oil. traders realize the storm is very unlikely to get into the gulf of mexico they still pay respect because they know the conditions are ripe for storms to develop. that put as little premium in that price. >> here is the other potential situation. dave was asking about gas prices. refinery in indiana, not far from here, bp refinery, what are you hearing about when that may come back online? >> we're hearing talk, traders in the market, that refinery could be down much more than the to days that we're talking about. >> good news for anybody that want lower gas prices. >> those prices stay strong. very possible the unit that is now may have to be totally ripped off started over again. three months that is the talk. if that happens, we'll see high prices till end of the year. >> david that could be real bad news.

that is new information we're getting from phil that nobody else has got. so watch out. david: give phil a question. why are the saudis and russians still pumping oil like crazy? despite glut of oil in the world saudis and russians are not slowing down. >> we were talking about the earlier, saudis and russians continue to pump? >> they do. >> why do they continue to do that? >> it is like war, devaluing your currency. you don't like to do it but everybody else is doing it to maintain market share. produce requires getting into the point of pain. saudi arabia is talking about perhaps cutting production by end of the summer. they probably will. if prices keep falling we'll see energy companies cut back. >> like gm, keep building even though you're not making any money. they smartened up the we'll see if saudis do. david: jeff, phil, thank you. is housing history repeating itself?

pushing fannie mae and freddie mac to expand homeownership to. sounds like the crisis all over again. former fannie mae executive may have a different view. do you think there is any danger in this. >> hi, david. honestly, i'm obviously a big fan of housing. any opportunity which can afford somebody who can actually repay the mortgage be given those opportunities, removing barriers. the challenge with this is, this is like 1992 called and they want their housing policy plan back. we're not being very creative how to achieve these housing goals. the administration that is actually, or the regulator over fannie mae and freddie mac is really pulling the only lever they can. they can't affect the macroeconomic growth of the country and wellness of individuals prosperity but they can pull this lever to create quota systems for the gses, fannie mae and freddie mac, to do more lending to distressed -- david: bottom line here, and i

think we have discovered this, despite the intentions of administration in power right now, social engineering really doesn't work when it comes to housing. that's what we learned in 2008 and 2009. the unintended consequences led to disaster in this country. you're treading on very thin ice when you go out in that direction. seems like that's what we're doing right now. >> yeah, unfortunately i think we've forgotten all issues related to moral hazard. you see it on the student loins. i never heard of this thing, reading "wall street journal" income based federal repayment plan. wrap your head around this. take out loan student loans, not dissimilar to mortgages, when you realize you can't pay it, the federal government steps in and crushes payment or taxpayers step in subsidize the payment. it is craziness because what you've learned long ago, if you focus on parachutes in these credit paradigms instead of penalties you get a lot of irresponsible behavior.

david: bottom line, they're creating arbitrary number, fran any and freddie are, 24% has to be low-income housing. when bureaucrats form arbitrary numbers they try to reach they don't pay attention to consequences trying to go to those numbers. they just go there, come hell or high water. usually we have to deal with the hell and high water. >> politics and press releases i think compel a lot of people to do funny things in this town. however there is some value in these quota systems, provided being a little more innovative again where we were in 199 it. we have to create situations where at-risk borrowers have sustainable situation. where you have a partnership with lender. can't just be creditor and debtor relationships. you have to be more creative. david: we learned that. people have to hold on to mortgages, banks or whoever issues mortgages. tim rood, thank you very much, tim. we have breaking news. greek prime minister still

hasn't yet resigned although he is leading into that. this televised address he is makings to the nation any moment as part of that address. he is expected to resign and call for elections in september. this coming amid a rebellion within his own party. a lot of people in that socialist party don't like the deal they have made with the europeans to pull their you know what out of the fire. he made the deal anyway because they were desperate and now he is paying the price. calling it by the way, worst crisis in his country's history, economic crisis. meanwhile, there is another crisis that we're dealing with right here and that is the crisis on the border. donald trump says the way to deal with it is by building what he is calling now the great wall of trump. he says its going to stop illegals. still ahead, will a wall actually work?

>> i'm dagen mcdowell with your fox business brief. look out below! widespread selloff in stocks. the dow at a level not seen since late last year. the blue-chips trading below 17,000 last october. look out for the number. the dow at the lows of the session. s&p 500 joining the dow in the red for the year. worries about an economic slump around the world, sending investors running for the exits. most of the energy stocks in the s&p and full-blown bear market

down 20% or more from recent highs. social media stocks in bearer to. yahoo!, yelp, indeed tech heavyweights like google, facebook, amazon getting hit today. alibaba from china a lifetime low today. and also netflix, even a darling like that getting taken to the woodshed, one of the biggest losers in the s&p coast to coast will be right back. it's more than the cloud.

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david: so breaking news, it's a done deal. alexis tsipras, up until moments ago the greek prime minister. still is officially. probably hasn't signed papers but he announced his resignation as prime minister of greece. a lot of ruckus for his decision to go along with austerity programs that the europeans forced on greek government. a lot of his socialist friends were up happy with that. new elections will be in september. meanwhile the greek prime minister announcing he is stepping down from his position. and then, here there is this. >> i know how to build, i know how to get it done. we'll have a great wall, we'll call it the great wall of trump. we'll have a great wall and it will be, it will be actually, it can be a good-looking walls as walls go. david: the great wall of trump. he is kidding about the name but not about the wall. trump says it would stop illegals from coming here. jessica vaughn, center for

immigration studies joining us now. jessica, san diego, correct me if i'm wrong, they do have kind of a small version of the wall he would build and it works, doesn't it? >> it absolutely works, dreamily well. in fact there it's a triple fence. and, the we've seen that the wall or a fence or some kind of physical barrier with the border patrol calls infrastructure does work because it makes it, it slows down the traffic so that the border patrol can intercept people more easily. it is not full-proof but really does change the game as far as interdictions of illegal aliens go. people can't just stream across hundreds at a time. and it really does work. david: right. >> we more of it. we need hundreds of miles more. david: today donald trump told maria said he doesn't envision it across the entire border.

has anybody done a cost analysis? donald trump says a lot of things off top of his head without think thinking it through. has anybody thought through how much the wall would cost? >> they have done estimates but keep changing estimates because technology improves and we learned more about what works. we don't need to put afence across entire southwest border because it only works where it can be patrolled. but it does work. congress has ordered the department of homeland security to install hundreds of miles more. and it is just that this administration chosen not to do that. david: right. >> they have got the instructions. we, save money because it would improve border security so much. it would pay for itself eventually. we do have to spend some money on it but we're already spending billions of dollars on services and other costs -- david: think, correct me if i'm wrong, about $24,000 per illegal immigrant that is in the country. that is the average.

of course, a lot of them do pay taxes, part of that. but the taxes are nowhere near compensate for the amount of welfare spending on it? >> that is exactly right. because vast majority of them are working in low-paying jobs because they are not as well-educated as the average american or even the average legal immigrant. so it is costly. and of course there is the human cost of crimes committed by illegal aliens. david: we talked about that earlier. that is getting worse and worse. jessica, you have new figures on just the sheer number of illegal immigrants coming into the u.s., right? >> yes. we have now more immigrants than ever before in our history, 42 million total. there have been 2.5 million new illegal immigrants who have settled here since 2009. and the number is going up. especially in the last year. it has been growing steadily. we think that is probably because of the lack of

enforcement and message that is being sent, if you get here you're almost certainly not going to be sent home unless you get convicted of a serious crime. david: right. even then unfortunately as we discovered they very often come back. jessica vaughn, center for immigration studies. thank you very much, jessica, appreciate it. greek prime minister has officially resigned. he has called for early elections. that would be in september but the world actually getting rid of its spending addiction? some people say we're nowhere near that point. even the greek deal gives the greek government too much. we'll be getting into that coming later. also new scary details on the iran deal. you won't believe who is jumping in to do business with iran. not who you might think. that's coming next. ♪ ♪

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david: trump-rubio, how about that for ticket for 2016? donald trump hinted at that speaking to maria bartiromo earlier. that might be a good move for trump. would work against negatives that he is anti-immigrant. >> would help in florida. would help with hispanics. rubio has phenomenal story. coming here, his family cuban immigrants. that said the cuban immigrant situation is little different from the mexican immigrant situation. that might prove a little bit challenging but i think it might be an interesting move. you know he will not go with carly fiorina, david. david: that's true. two business people would be too much for the ticket. trish: she has been pretty critical of him. david: she has indeed. they have both been critical with each other. he knows how to counter punch. trish: see you, david. david: guess which country is most anxious to jump into bed

with iran once sanctions are lifted? liz macdonald, mark serrano, dagen mcdowell. i would have said russia but you say? >> japan. here's why. before the sage shuns went into place, japan 10% of oil imports were coming from iran. they're first in line. they met with iranians. they want 10% back again as soon as possible. here's what is carry about this, in addition of unfrozen iran gets of $150 billion, next year they're expected to get $185 billion in oil and gas investments. i think these countries and companies are crazy. year-and-a-half from now, the president may turn sanctions back on. david: that is true, but hard to get european sanctions back on once they're off. >> snapback is not so snap back. david: you're right. >> iran, ballpark figure iran needs oil at 120 to $137 a

barrel for economy stablize there. watch what japan's is wants. iran is surprisingly rich in mineral reserves. has 60 billion metric tons. of the zinc, copper, coal, iron ore, iron iron. japan has big steel industry over there. they're eyeing very closely iran's mineral reserves as well. >> japan isn't even first! senior government officials -- >> from america. >> from germany, france, serbia, italy have already been to tehran. they were there as soon as it looked like the deal was going to get done. why the sanctions will never snap back. they will be inextricably linked with iran. there was a deal, this giant italian company already did with a company in iran that is controlled by iran's leadership, to build a power plant, have a billion euros. they're already in bed with them. david: just looking at u.s. companies on the street. you can put that back on the screen.

u.s. companies jumping over testimonyselves to get part of the deal too. >> still a risky investment i think over the next year-and-a-half. guess who the biggest loser is, is israel. israel, i can't believe these companies are turning their back on israel like this. david: what -- companies or countries. >> countries are turning their back on israel. david: bottom line, liz macdonald. they don't care. >> they will. david: they care more than anything else is being financially secure. they think deal allows them to be more financially secure. >> getting back to japan, they have japan's electric car industry. they are billing, japan wants to build electric car factory and plants, factories and plants in iran. we've still got to mention 1/5 of iran's economy is controlled by revolutionary guard, that controls oil and other industries and mullahs. >> if you're a company and money happens to get funneled to terror group, hamas, hezbollah, there is atrocity.

you can get sued. ask david boies. david: these countries are desperate, mark. europe is still in very soft spot right now. they are close to recession. some countries are in recession like italy, et cetera. they don't care about the long term. they're looking about right now. >> i appreciate that. they're looking for a new market. that is a whole new marketplace. naturally they go at it right away. italy and france are there. japan is there in big way. the price of gas has to come up to be worth their while. long term it's a big mistake. david: mark, ladies thank you very much. investors everywhere are selling. we have one bright spot we'll tell you where.

david: there is one bright spot in all of that, that's fold. the market -- gold. the market may close in on lowest close in 2015 but gold is going opposite direction. up about tabuks today. what does all this mean -- 25

bucks. we'll tell you about this. i will be with melissa francis at 4:00. on "after the bell." trish regan is here with "the intelligence report." trish: dow plunging to six 1/2-year lows on fears after global slow down led by china. as i look across the screen basically one place to hide. maybe two. gold, five-week high and utilities up. everything else in the red. joining me chad morganlander and fox business's adam shapiro. how is this connected to people's expectations that the fed might move come september? >> i think that is part of it but not entirely it. expectations in the futures market they wilt go in september. the generally speaking fed will