sandra: breaking news this morning. a sea of red in the global market overnight after friday's 500 plus point dow plunged that took us into correction territory. another wave of selling will hit at the open for u.s. investors. u.s. stock market futures right now down sharply with the dow futures down 300 dirty points overnight. they've been down 500. asian markets getting clobbered overnight with the shanghai index posting its biggest drop since year 2007. shanghai index down another 8.5%. european stocks also feeling the heat opening down over 2%.

lauren: oil prices slumping 3% below the $40 a barrel mark overnight amid concerns about global oil demand. 3917 the report now. gold prices rose on friday that they've been relatively flat overnight in the u.s. dollar tumbling again global currencies especially this safe haven from the euro and yen. investors looking for the safe haven by rebounding yield on the 10 year treasury with the lowest level in four months. good morning, everybody. i am lauren simonetti joined by nicole petallides. welcome to try and make first look at the latest breaking news and what you can expect with a busy day ahead. nicole: asian markets plunged overnight. china is right in the middle of market mayhem.

>> we had a perfect storm right now with forces all over the world colliding together. china is number one with a bullet. site is number two. but these things together in his gut investor concern. their relatively high so they are prone to correction. the first we've had since tony levin. nicole: started the week with a .5%. for details we got a tracey chang lab in beijing. good morning, tracey. reporter: good morning, nicole. a .5% marks the biggest single drop in over eight years. the stock fell across the board with investor confidence from freezing levels now the shanghai shock exchange with the 10% daily tanking value as them is beijing is allowing funds to purchase a share in the asian

market sales to investors. in hong kong, market plunged as well. hang seng down 5% mark in the lowest closing over two years and moving to tokyo, japanese stocks either the nikkei down 4.5% at headquarters after the end rallied against the u.s. dollar as the outer emerging market proceeds fight against the greenback. in south korea, the cost they lost 2.5% and the cost be zero so down as low as 2011. back to you. sandra: thank you so much. lauren, 10% mark to the downside. in the u.s., stock index futures point to more heavy selling that are opening bell after friday's selloff pushed the dow into correction territory. joining us with his thoughts on

what the market goes from here, that's everybody wants to know this morning. gary caldwell of capital management in a fox news contributor. good morning. >> good morning to you. lauren: you said the selloff didn't come from anywhere. but it feels like it came out of nowhere. when did you start seeing the selling rear its ugly head? >> the important thing is they take a long time before the major embassies finally get paid. the commodity stocks popped up 13 months ago. tuesday night and the average stock had average stock header or defend down double digits for the major indices were in a couple% behind. this is the whole market catching up with all the weakness underneath the surface already in the big problem the market has right now is now a worldwide phenomenon. it is not one area. that tells me the bear market is going to have some legs and

while we get in some real dishes balances we have the s&p futures down double where they were right now. i think we have some more time in prices in this. bearish market usually lasts a while so you have to hunker down and be careful. nicole: kerry, nicole petallides here. i spoke to a money manager last night who said it's going to put money to work in the u.s. you are using the bear market. how much more to the down right do we have to go? >> i think will be in the 25th no more. >> meaning 20%? >> first off, not on the market site. we've not had a bear market six years. we haven't even had a correction in three years. we are way overdue for starters. on top of that, you have ridiculous growth across the

world. not very good. 2% considering 0% interest rate for seven years as well as a massive amount of money, not a real good number and this is that, things now. that said, shorter term you'll hear this sad is not raising rates in september and probably rumors about them starting another round of money printing. you look at some vicious bounces here and there but ultimately will go lower to the end of the year. lauren: i want to talk about the feds. but first, what level are you looking that it's been a potential bottom for the dow or the s&p 500? >> i don't know what you had for breakfast this morning. i think minimum we will see 15155 on the down. we will see the nasdaq down another couple hundred points from here and then we will

reevaluate. i don't think markets top about them sudden and then start going down. a sort of happened last october in europe and japan did dare monetary easing the trillions of money printing. this feels different. bear markets to happen. corrections to happen and we are overdue to combine everything else you're saying. lauren: tell us about the sad that that's all the traitors are talking about, china and the fed. reporter: last night i was watching asian markets and i kept hearing from some pundits, we need government. we need government. we need central banks. i think the biggest problem is they've been interfering distorted pricing yet for too long. they are disturbing the free flow of market and the fear and greed that goes with that investors doing a daily basis and asset prices have gone too far too fast and that is for

asset bubbles come from a big drops come from. last week if you recall i used the term dislocation. that means a pretty big drop because everybody is used to the market being bought up, everything a-ok and backing this up right now. i'm hoping the fed stays out of the way but unfortunately i'm pretty sure they won't. lauren: gary, thank you. looking at the probability of a in september 21%. thank you for joining us. nicole: will check in on this constantly because they've been on the move. asian markets plunged overnight. shanghai got a .5%. the biggest out there since 2007. hong kong within 5%. nikkei in japan done more than 5% in europe right now the "spectacle: the astonishing life of ota benga" down 2.7%.

lauren: the dxm bear market category. look at the dow down 350 points, a selloff of more than 2%. s&p down 34, nasdaq down 148 points. oil well below $80 a barrel hovering at 39 at the moment. gold not the safe haven to pay $1155. nicole: by the way, everybody has been flocking to gold lately but today not so much. used in the euro which is strained all on the idea why the feds won't raise rates in september. currency is so key. passes the u.k. pound japanese yen. nicole petallides the yield is 2.03%. )-right-paren the 10 year period

nicole: date political news. vice president joe biden leaning towards entering the white house race. had a meeting with senator elizabeth warring over the weekend and senior writer draft biden 2016 was on fox news sunday talking about that meeting. >> talking to someone like elizabeth warring who's got incredible ideas on how to make the economy work for everyone. it is no surprise he would talk to someone like that. joe biden has been fighting for the middle class' entire career in talking with her is a way to get more ideas. nicole: senator boren has refrained from endorsing hillary clinton and bernie sanders. everybody's been talking about getting in the race and that would be a big ticket, too. lauren: former attorney general michael mckee attorney general michael b. casey appeared on fox

news sunday saying clinton herself is the focus of the justice department, not just a private e-mail to her. >> to say the investigation is not of someone is ridiculous. to investigate people and she's one of the people investigated. >> clinton maintained she never sent or received classified e-mail in her private server was allowed. lauren: donald trump hitting wall street hedge funds saying he would change tax laws to make a hedge fund manager pay more. >> they pay nothing and it's ridiculous. the hedge fund guys didn't build this country. this guy shift paper around and get lucky. nicole lauren: the top rate on capital gains is 20%. that's a lot less than the top

tax back on regular income which is 39.6%. huge difference. lauren: asian markets plunged overnight. shane had done 8.5%, negative for the year. hong kong fell 5%. the nikkei in japan 4%. in europe, stock opening sharply to the downside as well. losses of 2.5% for the ftse, cac and dax and germany. nicole: last of the big u.s. stock index futures. looking at the data about 350-point down 500 overnight. s&p and nasdaq looking nowhere, getting hit hard. take a look at key commodities. oil right now 39. right below $45. down 3.5%. >> right now let's take a look at the currency board.

gold first. 1155. weakness in the gold market. let's look at the dollar to see how this trading against seeker these. you can see strength in the euro, the pound in the yen this morning versus the greenback. nicole: everyone flocks to the safe haven of u.s. treasury. taking a look at the two-year bond which is a 2.03%. it's a break below the 2% market hasn't been there since april. it would be moving to the upside was complete reversal of the those markets in the red and the safe haven of treasury. lauren: one factor has certainly been the falling price of oil. one reason for that is the threat of new iranian oil if the nuclear deal does go through. senate minority leader harry reid formally endorsing the agreement with tehran. he becomes the 27th senate democrat to support the deal.

president obama needs to sustain a veto of disapproval. republicans strongly oppose the agreement. mike huckabee on fox news sunday criticizing the deal. >> it is balloon juice for the president to get data and pretend the deal is a good one. in part because this lets iran do their own inspections, do their self reporting. it's like letting a 10th grader grade their own exams or hillary clinton take care of their own server. both are nonsense in this deal is nonsense. transfer basco kruk is the former national security adviser for republican presidents. he supports the deal. nicole: let's take a look at oil continues to selloff. a bit part of the story trading under $40 a barrel. 6.5 year low. senior market analyst and also

fox business contributor joins us live on the phone. what is interesting about oil below the $40 mark, how much lower can it go. the question when i talk to the traitors they still see the demand for oil. some seem less worried in some more worried and at least everybody wondered what to do. >> definitely below $40 a barrel about supply but also about concerned about demand destruction in the future. the only time we've been below in the last 10 years is when the economy is in trouble in the market is sensing the risk situation in the market the economy is in trouble. talk about bringing more oil back onto the market. they just made a statement over the weekend they will do whatever it takes to regain market share no matter what the cause and that is definitely

bearish. he made a good point. it's not about demand destruction. with the global markets doing what they do overnight, that is very real fear. nicole: morin on trans this obviously will translate at the gas pump, but the economy is unsteady. d.c. americans benefiting from the savings at the pump? >> we haven't seen again in a big way. there is this mantra out there that oil prices are with the good thing. i think we've seen today falling oil prices or a bad thing. when oil prices fall because of turmoil, concerns that go into another great recession is not a good thing. at that point they head into the wall at and the fear in the market place and we see some real fear overnight. that is not good for the

consumer no matter what the cost. >> thank you for getting up early and giving us a glimpse into oil which is now at dirty 896. it is also worth noting them over commodity indexes at a 16 year low because we've watched all of these commodities dumping out. lauren: coming up, after friday's 500 plus point drop in the dow, it is shaping up to be another huge day of selling on wall street. we'll show you u.s. stock market futures. data on 3500 points at the nasdaq falling 141 points. global stocks have lost $5 trillion in market cap since china devalued its currency. we will talk to one strategist about by the chinese devaluation has had such a huge impact. you are watching "fbn:am," your first look at morning markets and breaking news. thank you for waking up with us.

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a message from the foundation for a better life. nicole: breaking news this morning. a sea of red and global markets after friday's 500 plus point dow plunge right here in the u.s. looks like another wave of selling will hit at the open for u.s. investors. let's show you u.s. stock market futures with the dow jones down 344-point indicating a 2% loss at the open, s&p futures down 34, nasdaq 140-point p. or nicole: so many lawsuits were going to look to asia for the indication. asian markets clobbered overnight with the shanghai composite index but the biggest drop since 2007. index down another 8.5%. a look at european stocks opening down over 2% right now.

lauren: looking ugly for oil prices is well below the $40 mark. this over concerns about a mobile oil demand. they've been relatively flat overnight. >> the u.s. dollar tumbling against global currencies overnight. it's interesting the pound and the japanese skip the u.s. dollar investors have been buying u.s. treasury bonds as the guilt right now 2.04% has gone down below the 2% market in the lowest in four months. i morin simonetti joined by nicole petallides. you are watching "fbn:am," the latest breaking is and what to expect a day ahead. asian markets plunging

overnight. the shanghai market started with a decline of 8.5%. for details, go to business reporter tracey chang lab in beijing. tracey is a reporter for chinese state television. good morning. reporter: good morning, lauren. a bloodbath here for regional markets. dropping 8.5% with investor confidence and get this out of all this talk listed they did not fall below the 10% limit as the news. beijing is finally allowing the fund to invest in asian markets to cheer investors. the plunge continues with 5%. they did not escape to selloff. down more than 4.5%. a traditional safe haven current

eradicates u.s. dollar and all the emerging market currencies keep their side against greenbacks. the cost they lost more than 2.5% with a four year low as well floating downward at 3%. nicole: thank you so much. tracey chang in beijing. nicole: what is ahead for investors, joe rundle again with the trading of btx capital in london. on friday come you told us you saw more selling ahead. we need to know your absolutely right to call him friday. >> the following china is significant and the government acknowledged this. we've got another cup of days that this following.

>> that's another way of putting. what you think our federal reserve in the u.s. will do with all this data? two opportunities to raise rates. when else are they going to do it? >> billeted in september with all this uncertainty. the biggest country in the world economy is slowing down. i think they have to start announcing that will calm because otherwise the markets will continue. i think some acknowledgment of the problem china is facing. >> he was sort of torn between 70% the markets have been overdone and this is sort of a seen any pullback. the 30% china global story which is still very much the wild card. going forward he's still bullish

eventually. what do you think? >> the economy is good. the u.s. economy is recovering well. europe has the mass. there is opportunity to get involved. it is how quickly china will slow down in the policymakers due to arrest the slide and that can be unconventional and never seen before. this is the first time we've seen emerging market leading the western market and that is a real play. nicole: joe rundle, atx capital, you're exactly right. everyone waits to see what china will do. lauren: lets anyone caught up in the global action monday morning. shanghai down 8.5%, hong kong 5%. the nikkei in japan down more than 4%. over in europe, the stock markets opening down more than

2% across the board in bear market territory. tranter we saw plunged last week. this morning the s&p looking down 32 points. 1.5% pay down the big picture. 334-point c. all down arrows looking at oil and gold. oil down 4%, below $39 we are also taking a look at gold which is then the safe haven right now pulling back as well almost five bucks at 1154. lauren: here is how the dollar is trading. the euro and the yen but safe havens. as for the yield on the 10 year treasury still holding 2.03% at the moment. nicole: we want to get you caught up. $5 trillion in global stock market value has been erased

since china devalued its currency. we will talk to a strategist about why devaluation has caused near panic in global stocks. oil prices also a major during the selloff. oil from it below the $40 a barrel mark. good at the gas pump but not so good at the big oil stocks. we check on crude oil to the downside about 332 points right now. a huge selloff last week continues. you are watching "fbn:am," your first look at morning markets and breaking news. we've got you with, stay with us. ♪ ed

to the downside. >> we've seen gold, but for two

weeks pulling back a little bit. this has been a really big part of the story. right now to your jump in as well as the u.k., pound and the yen against the u.s. dollar. keep an eye in the safe haven of treasury. >> 2.03% right now tells you the story were investors put their money. lauren: we've seen so many stocks getting killed. netflix down 15%. the culprit behind the stock selloff has been china's devaluation. joining us for a look at the reaction to the currency market. jane foley, senior currency status in london. it's so important you are on this morning. this is really part of the big issue in a big selloff. what are you watching now for the week ahead? >> many currencies you mentioned are commodities and the reason

it's called price is very weak. other commodities. iron commentary, call and many have the emerging market speak and think about brazil, et cetera. all is the other ones are listed. china is the biggest export. china second in the economy, the largest of many commodities. many emerging markets is a double whammy here. low commodity prices affecting the trade position and of course being weaker suffering from that, too. a lot of talk of current date boards. many of us in the country still want to embark because they have an even weaker current fee. it problems.

they feel a tad the south african rand, those are 14, 710 year lows respect to delay. >> absolute right. a huge amount of pressure. there's pressure on the reserves. the reserves than to try and stop the currency. too much because of inflation. the market is wondering whether we have to have a true announcement we had last week in vietnam and kazakhstan with respect to the regime. the high restraint last year coming back and this is why you'll see the hero stocking, too. nicole: jane foley, thank you for explaining the market. in a solider twine. currency, commodity, equity. what you do with your money? coming up, donald trump taking

aim at wall street over the weekend. >> a hedge fund guys build this country. >> mark trump's anti-hedge fund comments coming up. meanwhile, wall street traders for a flood of selling out the opening bell. dow futures down more than 500-point. now down 313. coming after friday's 500 plus selloff for the dow. the s&p and nasdaq each downed well over 1.5%. you're watching "fbn:am" come your first look at morning markets and breaking news. we'll be right back. ♪

sandra: nicole: breaking news this morning. a sea of red after friday's 500 plus point down plunge. another way the selling will hit the open for u.s. investors. u.s. stock market futures down sharply 339 points. had been done over 500 at the selling his back. lauren: asian markets clobbered overnight. shanghai composite was the biggest drop since 2007. index down another 8.5%. european stocks opening well done over 2% for the ftse from the cac and eax.

nicole: while a third are in your market territory, let's look at oil. nothing better they are. 3888 something below overnight concerns. is pulling back 1153. >> the u.s. dollar tumbling against global currencies overnight. strain in the euro. investors looking for a safe haven. they've been buying treasury bonds and notes on the ten-year treasury hitting the lowest level in four. the yield 2.03%. nicole: good morning. i am nicole petallides joined by lauren simonetti. welcome to "fbn:am," the latest breaking news and what to expect for this stay ahead. kicking it off with asia because the asian markets plunge overnight so much so the shanghai market started with the decline of 8.5%.

for details straight to business reporter tracey chang lab in beijing. good morning. reporter: good morning, nicole. a buddy picture in asia and china the nikkei composite dropped 8.5% but the biggest single day drop. stocks across the board is confident to freezing levels. out of all the stocks, thousands on the shanghai stock exchange and now tanked to the losing limit. beijing finally allowing funds to invest in the asian market and every hong kong market plunged as well. the hang seng down 5% touching a two-year low. moving to tokyo, and the nikkei down more than 45% and after it can traditionally seen the currency rallied against the dollar and emerging market.

the cost they also tanked to the lowest point since 2011 down more than 2.5% closing down more than 3%. lauren: treece chain, thank you so much. >> week is secure in the u.s. and that's why our stock market futures are pointing to much more selling at the opening bell. after friday's selloff pushed the dow into correction territory. joining us now without them at the market goes, gary kaltbaum of kaltbaum capital management as well as fox news contributor. earlier you said there's a lot of selling to come. the locals pushed even lower. i think our viewers want to know how does this affect going forward. what are the repercussions, ipo

market, whether we have another round of stimulus from the fed. >> if you are a big believer like me this has been created by the fed and every asset price, every statistic is based on 0% interest rates for seven years printing 15 to $20 trillion of asset prices come down with a have a marked effect on housing prices, economies and everything that has to do with it. that is why i am 100% sure sooner rather than later the fed knowing this will make some sort of announcement but they hold off raising rates. you'll see some come out talking about we may need another round of money printing. pay no money printing every time they've announced and done that, asset prices have gone up. the big worry is the game over. if the market going to get to

the point where it stops listening to the side and money printing. in the long run, the worst thing central banks can do is money printing it your% interest rates for too long. fear and greed and asset prices is how you get 10 year yield at 2%. that is how you get markets not having a correction in three years. they need to leave markets alone to do their bidding and we want to have these booms and busts anymore. one in a wave of housing. one of 2000 with the internet technology and i say enough. the problem is they won't listen anything you have to say. >> gary kaltbaum, thank you for your perspective this morning. nicole: this is exact to admit the markets. right now look at these numbers to shanghai composite index down

8.5%. hong kong fell more than 5%. the nikkei in japan down more than 4% and the drop in shanghai was the biggest we've seen since 2007. major selloff under major selloff underway. trading for european stocks sharply lower. ftse than 146-point, 2.4%. cac down to 30%. ditto for germany. u.s. stock market futures down 2%. within 1.5% for the s&p and 3% for the nasdaq. it is looking ugly this monday morning. nicole: is surged over 100%. oil or d. 885 and also a keen eye on gold as well. talk about the bloomberg commodity index down a 16 year low. >> copper down big time right now. the u.s. dollar trading against the current pace. strengthen the euro. the u.s. dollar lost 2.5% versus

the euro last week. this is yield on the 10 year treasury. i keep waiting for it to go below 2% to wield 2.03% at the moment. nicole: is it shaping up to be a brutal day for u.s. investors this morning. dow futures down another 500 points overnight after friday's 530-point drop. we'll run on the global market action for you. keep your right here. you were watching "fbn:am," your first look at morning market and breaking news. ♪

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so, same time next week? well, of course. announcer: put away a few bucks. feel like a million bucks. for free tips to help you save, go to ♪ feed the pig lauren: asian market thinking of her neck as shane had to 8.5%. the index down 5%. the nikkei japan down 4.6%.

a global market selloff indeed. look at what we see. the ftse down. cac and dax selling off 2.3%. u.s. stock market futures after the worse off than four years to over 300 vendorsa, 500 on friday in the keynote 333 points. s&p and nasdaq. nasdaq is the worst of the bunch. train for turkey 895 for gold trading to the downside. we are seeing a little bit of selling this morning. >> anybody an expert will turn into currencies because that's a big picture. the dollar trading on the euro stronger against the dollars. the ten-year treasury note

2.03%. we haven't seen that since april. lauren: oil continues to selloff. looking for it to break $40 a barrel. it did. now well over 6.5 year low. senior market analyst at price futures group as well as fox business contributor joining us early. looking at energy names in the s&p 500. konica, occidental. they produce and refine. the selloff in global oil prices right now. how does this affect the market? >> it shows big problems in the global economy. if you look at the entire commodity process commanders warning signs all over the place. you mentioned the u.s. dollar falling. commodities fall with it. the danger side.

you mention the fact gold prices are not rallying as a safe haven. it signals the market is more worried about entrenched disinflationary than deflation. you go back to the oil market below $40 a barrel. talk about production or really bad is a concern about demand. a lot of warning signs reflecting the fear played out throughout the global stock market right now. >> oil breaks -- it is nicole. up on the rise of an idea past weeks. what is the number? what is the biggest bad and what else is the second most important commodity everybody's watching? >> the next important areas $388 a barrel and we are close to that. talking 35. those are the numbers.

you have seen towns throughout three weeks, four weeks in a row. the reason is because oil prices spike to $60 a barrel a few weeks ago, a month ago. the market is going to sell. it takes a few weeks once you get these into play. the thing is now istanbul probably stop. right now with oil prices in this area i don't think anybody will talk about adding rates anytime soon. nicole: phil flynn, thank you so much for your insight. coming up, we'll run down the market action against before we headed over to maria bartiromo. you focus on making great burgers, or building the best houses in town. or becoming the next highly-unlikely dotcom superstar. and us, we'll be right there with you, helping with the questions you need answered to get your brand new business started.

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nicole: after two rough days of trading from this morning looking the same. a final look at the shanghai composite index anything 5%. the biggest seller since 2007 as asian markets plunge in hong kong down as well. 2% to the downside across the board and write to it on your stock market futures in the days. the dow down about 351 points after 530-point selloff. not a picture for these commodities to the downside. that a low $39 phil flynn telling us they go even lower. you can see the euro and the yen jumping against u.s. dollars. the 10 year treasury bond was safe haven drop below 50% mark to 1.99% to figure out where

they put their money. maria bartiromo will talk to her experts and find out is this the fear here on wall street or the opportunity to cover it all. "mornings with maria" coming out. train to thank you, nicole. see you in a little while. the global rock continues. good morning. happy monday. the selling right now in correction territory. the dow jones industrial average down 10% from its most recent high. it is monday, august 24th. which made "the wall street journal" chief economic correspondent john hilson rats. dagen mcdowell skye bridge capital found her and weekly host anthony scaramucci. but to do after five and 30-point selloff on friday. almost 6% lower last week all the major averages this morning

dropped of these 3% as we expect a sharply lower on the heels of a messy picture in china. globally looking to futures showing a decline of more than 350-point if the nasdaq, s&p 500 underwater with the nasa going back to 3% already this morning. it all started in asia. the hardest hit of the asian markets with a live report from beijing coming up. shanghai composite closing down 8.5%. that certainly set the tone for asian markets markets everywhere as well as the rock era. europe stocks up in a short time ago. we guess right off the bat down below 2.5 and three orders%. watching oil prices selling off as well and a negative for equity investors. oil below $40 per barrel.