birthday boy anthony scaramucci, monica crowley, and awesome to have you all on a morning and a big news day. that's it for us, "varney & company" is next, stuart, it's all yours. stuart: thank you very much indeed. a rotten start to the new year, day 3, your 401(k) is taking a big hit. stocks way, way down. good morning, everyone, this is a big day, there's a lot to go at. start with the markets, there is an a huge selloff in progress. the dow will open hundreds of points down and oil is breaking down to multi-year lows, really big trouble in finance. the back drop to this, the world is on fire, north korea claimed it tested a hydrogen ball. and germany reels from migrants

and german young women. down goes the stock of the leading technology company. add it up, please, you're looking at a tough day for your money and real anxiety about the state of the world. "varney & company" is about to begin. ♪ >> i'm going to repeat the headline, the world is on fire! north korea says it tested an h-bomb. that's a disturbing development if it's true. and the united states, john kerry on the phone frantically urging calm between saudi arabia and iran. there's in you weakness reported for china's economy, it's the service sector this trouble this time. a big drop for the dow within the half hour, we're looking at a near 300 point loss way down in the 16,000 range. oil is headed lower again. a 34.67. plunging commodity prices are

very bad news for stocks. all right? add it up-- i'm not finished. look at apple, reports it may cut iphone production, maybe 30%. that's most likely because china is slowing down. no comment yet from tim cook at apple. will the stock break below $100 a share? we'll find out in about 28 minutes. and then there's this. north korea dramatic headline claiming it successfully tested a hydrogen bomb. that's not being confirmed, but there was seismic activity felt. this is the moment when north korea announced its h-bomb, that lady on north korean tv says it out there. if it was indeed a hydrogen bomb, it's a game changer, much more powerful than an atomic bomb and easily weaponized to get on a long range missile. columnist liz peake is here. do you think this announcement, development from north korea is part of the financial trouble that wall street is walking into today? is there a connection?

>> i think there's definitely a connection, people are answeri answering-- anxious about the state of the world. we saw the market fall off not only because of china's problems on opening day this year, but saudi arabia and iran and north korea standing up saying, don't forget me, i'm also a nuclear threat. the first test under the reign of the new leader of north korea, sort of disturbing because it clearly means he is furthering the ambitions of his forebearers and it's a more powerful weapon which definitely was detected enorth korea is china's client. increasingly going rogue. beijing is not happy. in the short-term, china in the long run could put control over north korea, it's worrying. stuart: with a slowing economy they don't want that on their doorstep, but they've got it on their doorstep and that's an economic impact. how about hillary clinton? she was secretary of state when the north koreans exploded atomic bombs and her husband was the president when some

would say he opened the door to north korea. >> look, i think all of these things that are erupting overseas have to weigh on her campaign. her one credential is her time as secretary of state. the best case you can make, she had no positive impact, but if people begin to perceive she actually had a negative impact by ignoring problems festering, et cetera. there was plenty of warning about this. they have been engaged in provocative acts for two or three years, warning about another nuclear test. what did we do? nothing. stuart: fair point. all right, i want to get to germany. this is an extraordinary story. authorities there talk of unprecedented crime on new year's eve. dozens of women attacked by gangs of middle eastern or african looking men. details, ashley. ashley: a large group of men as you say arabic or north african appearance, breaking up into groups and surrounding single women and sorting them out of

the crowd, robbing them, groping them, one case of rape. up to 90 cases similar from hamburg on new year's eve and german towns. no indication that it's coordinated, but the tactics were the same. what's interesting in the days following the attacks which were significant, nothing from the german government, nothing from the german police, it went to light when the women came forward and started reporting crimes and now the german government and angela merkel under measure, toward her policies towards refugees. why is the government appearing to try to hush this and put this, you know, hush-hush tactic which obviously hadn't worked. stuart: it was angela merkel who opened the door to the refugees. . ashley: not one person arrested. stuart: is that right? >> that's absolutely correct. stuart: is there a financial impact on america from this?

i see this as a, basically a cultural, political development in europe. does it have financial repercussions here? >> i would say that angela merkel is under pressure as ashley says and faces reelection in 2017. there is actually increasing speculation that she will not stay in office to run for reelection. if she goes, and that's because she's looking for a different kind of job, maybe head of the u.n., or something like that, and that's brought up this year, and if indeed angela merkel goes, the solidity of the eu i think is tested again, and she is the leader and gotten them through so much. stuart: they're already in recession. >> not doing great. stuart: now, fox news is reporting that u.s. forces are no longer trapped in a compound in afghanistan, but special operations forces remain on the ground. at one point, american soldiers were surrounded by the taliban, and one special ops guy was killed in battle and two others wounded. let's bring in the man who

killed usama bin laden, he's rob o'neill and he joins us live this morning. are you saying that america's troops feel abandoned in afghanistan? >> i'm not saying that the american troops feel abandoned, i'm saying with part of the pullout of american and nato troops from parts of the region like hellman province where this is going on, aur after fan partners feel abandoned by the u.s.-backed government in kabul. what's going on now, as we said that combat is over, tell that to the family of this brave special operations soldier that was killed. regardless what you call it, if we have helicopter going down on rescue attempts to get friendlies killed in action and wounded in action, that's combat on the ground. i'm not saying they were abandoned. i would never say they're trapped as long as we have the air support and good guys on the ground, we're not trapped, but there's combat going on in southern afghanistan. stuart: is it intense in an important area? >> the fighting has been going on six months. this operation right there, they were trying to clear a

road which is about five and a half miles from the city to the capital. and uncovered about 40 improvised explosive devices, which is a lot. they came under heavy fire and have been fighting a lot, which is odd for the winter and with mortar fires that means the taliban is set up. this is intense fighting, whenever there's mortars involved, this is intense. stuart: this is forcing president obama's hand, he wants to leave, but he's been forced to leave some troops there. will he now be forced to boost the number of troops there and our presence there? >> you know what? what i'm happening, -- what i'm hoping, he'll take the advice from the pentagon and other advisors, we will have a sustainable force, afghanistan is not a stable country and hasn't been for a long, long time. i hope he real leased just because we promised on the

campaign trail to end everything and world peace, i think he's listening to his advisors. stuart: thank you, sir, appreciate it. >> thank you, stuart. stuart: corporate news big time. apple, the world's greatest technology company reportedly cutting production for its iphone. there's a headline. lauren simonetti has more in case you missed it, i did. >> that's right, it's the flagship device. two-thirds of revenue saying that iphone will cut the success by about 30% this quarter. after a big year of iphone sales last year, analysts warn it's going to be tough to boost demand for the flagship device. another apple device, the watch, however, that might be selling better that than we thought. and fitbit, those shares under pressure. fitbit announcing what it calls the blaze, it costs $200, cheaper than many rivals. stuart: hold on a second. fitbit, that stock was down 18%

yesterday. >> yes, and down again right now in the pre-market. absolutely. there's concerns about their devices, yes. and it's good news for apple because the watch could be doing better than we thought. we don't have the exact numbers. the final story, this is scary, beware before you bite, there could be wood in your burger if bought that at wal-mart, sam's club. they're recalling the beef burger with vidalia onions. ashley: it's little chips. stuart: fiber. >> splinters, the bad news. >> expecting comments from you guys on that story. [laughter] >> not good. stuart: thanks, lauren. here is how stocks are going to open, way, way down, we're going to be down what, 280, 300 points. 200 points below the 17,000 level. we open in about what, 20 minutes' time.

the world is on fire and that market's going down. look at that. next, more on the unprecedented crime spree in germany, sexual attacks from muslim migrants against german women. there was an unprecedented crime wave on new year's eve. judge napolitano, watch out, a big day for your money and for him and us. welcome back.

>> you're looking at a sea of red when that market opens shortly. look at futures, we're down 300 points and just as important, the price of oil has cracked the low, $35 a barrel. 34.59 to be precise. now, it's been called an unprecedented crime in cologne and hamburg, germany. dozens of women sexually attacked by gangs of middle eastern and african looking men. and angela merkel who opened

the door to a million migrants is in trouble. and donald trump's plan on immigration, he says keep them out. i suspect donald trump will be elected chancellor of germany if he could stand there, but his plan, keep muslims out is getting a lot more attention and support these days in america. >> first of all, i don't know if donald trump wants ton elected chancellor of germany and if the german constitution would allow it not being born there. stuart: that was an aside. >> the germans can make decisions on the basis of membership in groups, membership determined by an immutable characteristic of birth like race, gender, place of origin which the american government cannot because of our constitutional provisions in the first amendment that prohibit the government from using religion and because of statutes which we have enacted that prohibit the government from using race, gender,

nationality, or belief as a basis for keeping somebody out. could the government prohibit all immigration for a certain time period, legally, yes. politically, there would be problems with that, but legally-- constitutionally yes. >> so for everybody? >> correct. could the government prohibit people from certain geographic areas, from a place? yes. could it prohibit people based upon their political views? no. their gender? no. their race, no. now, the trump issue. their religion or ethnicity, answer no. because the american tradition is profoundly against attributing to individuals the characteristic of a group to which they belong. >> and rightly so. >> yes, that's not necessarily a european tradition, but it's profoundly an american tradition. so, mrs. merkel can do things in germany which president obama, or a president trump

could not do here. >> obviously, you're right. constitutionally flat-out, you've got it. >> but let me say this, this is not an argument that might resonate with those 10,000 people that were in that arena in lowell, massachusetts, that the donald whipped up yesterday. they might not want to hear the constitutional niceties and vote for him anyway just because of what he said, even if he says he wants to do could never happen under our current constitutional structure. >> see, what he says he wants to do becomes more attractive when you get events like this in cologne and hamburg and germany. they could well lead to the failure of german chancellor merkel. >> the courts would never permit the government to i can ma the decision, everybody in this group has to go, because ten people in the group had to commit a crime. it's a job for them to find the

ten and leave the rest alone. >> i'm fiddling with my ifb because i've lost the control room. >> it's gone rogue. >> don't fiddle around with your iphone, somebody might call you. stuart: what does ifb stand for? >> oh. can't live without one. hillary clinton asked to explain the difference between at socialists and the democrat. she couldn't answer. wait until you hear this one because we've got it next. but first, red arrows all around. look, a sea of red and we're down 280 odd points for the dow and oil, nearly a 4% drop and apple is going to test $100 a share. we're on it.

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2% loss that translates into roughly, $10 $15 per share drop. down big. netflix, another percentage drop of about 2%. netflix is getting close to $100 a share and we'll find out exactly what happens seven minutes from now. i want to bring up hillary clinton briefly. asked by msnbc's chris mathews, what's the difference between a socialist and a democrat, that's the question, watch this. >> what's the difference between a socialist and a democrat. a question you want to answer or rather not? >> well, you know, you'd have to ask-- >> you're a democrat, he's a socialist, would you like somebody to call you a socialist? i wouldn't like somebody to call me a socialist. >> i'm not one. >> i can tell you what i am a progressive democrat, a progressive democrat who likes to get things done. >> how is that different than a socialist. ashley: she never answered, did she? >> a little tricky, miss clinton. liz, any comment?

>> hillary clinton doesn't know what she is because every month when her advisors circle her and tell her what the polls show, she becomes something different. socialist is an inflammatory word in this country and not popular and bernie sanders turned that on her head and she wondered is it okay to be a socialist, and would my advisors want me to be a socialist? that's what is going through her head when she stumbled on the answer. ashley: in 1945, it's different from a socialist in 2016 i would suggest. >> totally answer. stuart: she should have said it. ashley: she'll have an answer next time. stuart: i wonder if she's going to be asked about north korea. she was secretary of state when north korea exploded some weapons. and her husband-- we've been through this. when is she going to sit down for a serious interview? when is it going to happen? >> she doesn't want to. >> she hasn't had to, the

frustrating thing. so far in this campaign, she has really kind of had a free pass. i mean, that isn't to say that people aren't taking pot shots at her and e-mails aren't coming out, but-- >> we're 25 minutes in the show and only mentioned donald trump once, that's highly unusual. >> we have to make up for that. [laughter] >> here we go, the markets are about to open and there will be a big loss right at the opening bell. the price of oil also way, way down. and you know, it's the big name tech stocks that are really moving southward very rapidly. the world is on fire. we're watching it next.

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stuart: in 50 seconds the wall street trading will begin. we expect a loss for the dow industrials in the neighborhood of 300 points right from the get go. factors behind this are as follows with the world is on fire, negative news from overseas, the north koreans say they have tested a hydrogen bomb. that is a big deal. a lot of people skeptical whether it is or is not a hydrogen bomb but they said it and that is a big deal on a world stage. there is frantic activity to try to stop a hot war developing between saudi arabia and iran.

germany in turmoil because of a series of sexual attacks on new year's eve by apparently muslims. we have a forecast of a weaker economy in meant china. you add it up, trading begins right now and we will be down. we are up in the early going and we are now down from the get go 59, we are going to be down 200 or 300 points. i think we could bring you a quote on apple, all-important stock of this morning. very close, you are right. and now has opened at $100.38 per share. that is the 2% drop because they reportedly are going to cut production of the iphone by up to 30% and the iphone is a huge part of apple's value.

more on apple in a moment. more on this analysis of not very big day, ashley webster is here, liz macdonald, and shah gilani. i read what you put out this morning, you drop a thousand points not today. >> 18,000 is likely to hit 16,000 and we are very close, perhaps by the end of this week it could get their. >> what about the price of oil? it is dropping sharply down to $34.60 per barrel and the drop in commodity prices, that is a factor in the stock market.

explain it. >> correlation between oil and gold, it is valid because it is a supply issue, not a demand issue, the big problem is the fear and uncertainty going on around the world. that is the biggest factor in the market. stuart: we are down 206 points in trading, i want to go around the table in new york. >> china's economy, which is hurting avalanche of oil and everything else and all the disruptions in north korea and the middle east are adding to that. ashley: but combination of everything leading to uncertainty, nervousness and reflected with people pushing the sell button. liz: this is what a normal market looks like when the federal reserve gets out of the

way. profit decline is the reason the dow and the s and p are under stress. a flat to down year. stuart: i want to bring up the subject of gold, the world is on fire. in that situation wouldn't you expect gold to rally significantly? it is that 13 bucks at $1,092 per ounce. what am i missing here? is inflation not there and that is why gold is not going up? >> inflation isn't usable is not going up for that but the market is telling us the fear and uncertainty we are seeing is being overblown because i would agree with you, all but events we have seen in the past few days gold should jump a lot more, there's more behind it than the inflation end. stuart: would you take a flyer on any kind of gold stock or points for grandkids?

>> it would be something like that. reaching for gold mining stocks, gold does not act the way it should have been for the last few months or the last few years. gold has not been there so i would rather be in treasurys and gold but if i was going to speculate, try to pick up a few gold mining stocks but not what we go for. stuart: we are now four minutes into the trading session wednesday morning and we are down 235 points. not as much as we were expecting to fall. at one point it looked like we were down 300 points, we are down 237, 1.4%. i want to bring to your attention the biggest losers on the dow industrials so far, 30 stocks in the dow, look at the losers. i start with chevron, caterpillar, goldman, intel. all of them are down in percentage terms, those are very big names all of them down. this headline too, deutsche bank, a big investment term, america's economy will grow at

1.5% annual rate in the quarter the we are now in. that is a big slowdown. >> directed the fourth quarter estimate to at%. they are looking able stronger, expecting them to present in the high end but this is a radical reduction and they are saying inventory builds they are seeing are a problem in terms of manufacturing, of falling, a lot of negatives in there in the economy and the fourth quarter, bellweather from the fourth quarter is what they're saying and i disagree with them. stuart: that is a shocker, 1.5% annual growth. they are not counting on this and everyone will be looking at their rate hike saying strong dollar, a lot of pressure for the manufacturers, people like caterpillar facing resistance to higher prices brought on by a higher dollar. this is going to be very confounding to janet yellen.

stuart: janet yellen put set interest rates and the economy slows down. ashley: everything we are doing does not point to a rate hike. liz: it doesn't mean you hike rates. watch this. we have four major banks including citigroup, we are talking will bank of montreal, cycle nicholas and goldman sachs saying flat to down year due to feeding eps momentum, fading profits. stuart: these four financial institutions now say watch out, stock prices, the underlying economy is slowing down big time. that is why you watch out on the stock market and we are down 255 points. i want to get back at quote, stock of the day, the world's most important technology company and it is down a notch as much as it was but 101 per share. we thought it might challenge 100 in pre-market, hit 99, now is 101.

ashley: a japanese news outlet got the story from apple suppliers to provide the parts, they were told directed it down, 30% in this quarter, january to march quarter. iphone inventories are starting to build in asia, europe and even in the u.s. complains the latest generation of iphone is not better than previous ones. the trigger a strong dollar has put prices up sharply in the emerging markets. stuart: look at all those iphone suppliers supplying parts to go into your iphone. that is a big drop. apple is a bellwether. >> current problem but for investors, is apple's same without steve jobs? i hate coming back to that, we have the consumer electronics show going on. what is the new product, what has apple got to show as?

stuart: ten minutes ago apple came out and said 1.1 billion apps store sales in the holiday period, that is a good strong number but they came out with it ten minutes ago may be to counter -- negative iphone story. apple bounce up to 101 from 99 in pre-market. we have got stuff going on at 101, a little bit of what bounce, there is something going on with disney and i'm going to go to the floor of the stock exchange and ask nicole what is going on with it and the stock. nicole: despite the fact they have the new star wars film which is good news for this company we are seeing down arrows, we had and analysts this week setting some concern about disney, worries about espn being at risk with on demand streaming. also valuation might be too

high. even if you were going to buy into media companies, you would buy cbs or time-warner and with that we see down arrows dropping them to prison yesterday, 2% on monday and today you see it down 1%. stuart: another big-name stock is challenging, $100 per share. >> it was 140, 122 in august. stuart: that was the high, 120 to august of 2015. now is at 100. the big name tech stocks we have been following every single day for the past year, they went straight up in 2015. where are they now? coming straight down. amazon is at $630 a share. a couple weeks ago it was almost at 700. now it is down $4. netflix, there is a stock doubled in 2015, not sure what the high was but it is down

again today 107 on netflix. google or alphabet i should properly call it, 754, not down much in percentage terms, 1% down, microsoft, i follow it because i own the thing, $54 a share, it is down 75. we have news on this one. liz: start sent and there needs to be a change in management and the board and a strategy for the company basically operating sales cash flow according to the letter, marissa meyer having a rough go of it, the seventh ceo for the company in the last ten years of the question is yahoo!'s board is already meeting about possibly selling bits of it, a dozen companies, could sell up to microsoft or google or face the kennedy turned into one giant apps?

stuart: we are now down 227 points. there i say that the selling has stabilized? >> i don't think you can. let's see what happens during the course of the day. is a relief the opening wasn't worse and there are going to be people coming in looking to buy these big-name stocks that have taken a big hit. i am sure some of the funds are in there but this is very worrisome. the strangest thing going on today is oil prices. if we look at the middle east and iran and saudi arabia as possibly engaging in more confrontations, oil should be going up and i understand we are conservative with it. there is a price to overabundance but this is surprising. ashley: doesn't believe it is a demand issue but soaring of the global economy is an issue. >> saudi arabia and iran going toe to toe in the markets,

they're demanding production cuts, saudi arabia saying no way, continue to flood with oil reserve market share because the oil still stays down. stuart: one little rocket flies from iran. >> that is the issue, there is concern about supply disruptions and we are not getting any of that. stuart: i want to bring up the subject of gun stocks. we covered this thoroughly over the past few days because president obama turned into the world's greatest gun salesman, calls for gun control, everybody runs out to buy a gun. smith and wesson, you could call this profittaking. ashley: the journal said this president has done more for gun sales banking george iii. stuart: they took that line -- the world's greatest gun salesman. ashley: smith and wesson got a downgrade from an analyst,

basically saying it is wonderful, they are uping their outlook but this kind of demand cannot be maintained and there will be a pullback and some of this selling is on the downgrade. bernard: when you made a lot of money. i don't know what the percentage terms are. ashley: 150% in the past year. stuart: if you take your profit now you don't pay capital gains tax until 2017. how about chipotle. they have lowered their forecast for the last quarter. e. coli problems hit them really hard. they are down $11, 438 on chipotle. liz: they have been hit with a federal grand jury subpoena of related to their outlets in simi valley, calif.. is a criminal probe that is underway. they are finding according to food safety news reports are number of people sickened there

is far greater than initially sickened by nora virus that this outlet, they found unsafe unsanitary conditions in that store so jacoby will not find a bottom to its problems until it comes out and says what the source of its problems are. you saw that with taco bell and mcdonald's, they have food pricing issues, four quarters of declining sales, to build the, the source of their problems, chipotle has yet to say. stuart: a cruise ship, something to have in a restaurant. stuart: i didn't know. it is a sea of red but not as bad as it might have been, looking for a 300 point drop. what is with walmart? is. and up $0.14.

news on walmart, the news is the only dow stock is up. the only green patch on a sea of red. john layfield coming to us in bermuda as usual. the world is on fire. that was my headline this morning. i hate to use the word crash but are we in crash mode with this going on in the background? i hate to use that word. >> i don't think we are in crash mode. all trends are negative. since 2005 for every job created in the united states three people have slipped into food stamps so the trend is a tough slog. the news coming out of everywhere around world is pretty bad that in won't see a crash, you're seeing a repricing of stock markets, the second-biggest economy in the china goes from 7% to whatever it will go to, that is a cutie coin.

i don't thing you're seeing a repricing. i don't see a crash, 15,000 stock market, something around 16,000 perhaps. stuart: hold on a second. i should not use the word crash, you shouldn't do that and i am sorry if i did. they're stabilizing a little bit. >> trying to figure out how much a north korean debt nation impact the economics of the world, probably not very much. this jousting between iran and saudi arabia, the problem with china is we don't know the data, we don't trust the data. every time they make an announcement about manufacturing being four months lower in a row everyone looks at it and says that looks lower but what does it mean in terms of 6.5% official forecast growth. stuart: a general sense of unease, if you wake up in the

morning, fearing beijing doesn't have a grasp on it. stuart: back to john layfield and ask about apple, $100 a share. what do you make of this? >> the great boxing referee's this cover-up to clinches is one apple is going for a. this is one of the most profitable companies in the history of the world, $200 billion in cash equivalents of $550 billion market cap, this is a great company, and bought it in the last 24 hours and it will force tim cook to make some acquisitions because if you are just giving money back you have a weak management and i don't think management wants to look that way. stuart: john layfield, thank you for that. thank you very much indeed.

>> that is why he is in bermuda. look at the sea of red. no matter where you look this is the dow jones industrial average, 30 stocks, one of them is up, walmart, the price of oil is stumbling again, back to $34 per barrel and now this, something different. and article in the new york times, several san bernardino residents are saying that the president's executive action on guns will do nothing to stop mass shootings like the one in their city. this is people in the new york times quoted from san bernardino us saying the president's measures won't work. tennessee republican congresswomen dianne black is with me now. i was surprised to see that in the times this morning because i thought the time this would be all over president obama and gung-ho for what he is doing. where do you stand on this? >> i am not surprised at all.

maybe a little surprise the times comes out with that but across the nation if you ask people do exist in actions make a difference in mass shootings you will see most reasonable people say no they do not. if we look at mass shootings, either of two areas, in san bernard tivo this will rise of terrorism and homegrown terrorists connected to isis and the second is mental illness. the president is trying to devote away from things he is not comfortable with and that is the very issue that happened in san bernardino. stuart: for many years democrats have phoned the gun issue. they are opposed to guns, want more gun-control and have a lot of political support from that stand. has his >> reporter:? do you think you are now on the right side of this political debate? >> always on the right side of

this political debate. we have a second amendment right and don't need the president with an executive order taking that away. when the president says congress hasn't dealt with this issue he's totally wrong with that because coming to congress we have a democratically controlled house and senate. and the total democrat control, the president is on the wrong side of this and we have a serious conversation about mental illness and how we address that issue in the country. stuart: you are a former emergency room nurse. you know what you are talking about. thank you very much for being with us, very busy day. the market, a sea of red but not as bad as it could have been and we may have a little stability returning to the market and how about this?

in california the nfl holding cities to ransom, pay up for a new stadium or lose your team because it is going to los angeles. jerrod max is here. you pay your car insurance

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even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. stuart: where are we now? almost an hour into the trading session and we are losing 200

points. we have achieved a little stability in the downside move of stocks. stocks are in the green, walt disney and walmart, the only winners among the dow 40. three teams, the rams, raiders and chargers have filed a petition to move to los angeles. i have a question. is the nfl holding those cities, oakland, calif. st. louis, san diego, the nfl holding them to ransom? if you don't build a new stadium in those cities you are going to los angeles. jerrod max is here. is los angeles going to get football again after all these years? >> the kansas city chiefs, one team will relocate to los angeles next season at least one. disney chairman is heading up a

group to build cars in california that would bring the raiders and chargers, the raiders for another move, the oakland raiders went to los angeles and back to oakland, they could go to los angeles along with the san diego chargers. stuart: disney, the chairman of disney would build the stadium. >> the entire development. two teams we have near here with the giants and the jets. 55 years the chargers played in san diego, the oakland raiders have such a fan base in oakland but these play in the old stadiums of the nfl and the oakland raiders a stronger fan base in the national football league, san diego chargers, st. louis when the rams this for the national football league, st. louis is not the city, this can support it. seem louis ranks 61st out of major cities in recent economic

growth so st. louis is good for baseball but not football. stuart: you are saying disney, brings probably two teams to los angeles in the new stadium he is going to build. >> then the rams, nfl owners in new york. we are looking at quite a sell-off, the dow is down 260 points. north korea says they tested hydrogen weapon, a bomb. big consequences for china, we are back with all this in a moment.

...

>> coming right up on 10:00 eastern time, that would be 7:00 in california. we woke up to another triple digit selloff. the world is on fire. listen to this, north korea claims it tested a hydrogen bomb. and john kerry making calls to

iran and saudi arabia, and down goes the stock market and the price of oil. ashley webster and liz macdonald. liz, i say the world is on fire, america's economy is slowing down and china's economy slowing down and that's the back drop and the big selloff liz: likely one and done, no argument to do so when you have zero inflation growth and oil is sticking at 20, possibly going to $20 a barrel. stuart: getting new numbers in. it's the ism index, an index of manufacturing activity down slightly. not as good as expected. no change for the dow. still down 200 points. have i got this right, ashley, i'm saying the world is on fire, we're slowing down. china is slowing down. ashley: yes. stuart: down goes stock. ashley: and on the air on

nervous footing and get the news out of north korea, that adds to it. we've stabilized in the last half hour, it's a long way to go and one more headline. stuart: we've dropped 200, dropped 250 and stayed down at that level. ashley: yes. stuart: and apple is the big story, it's holding above $100 a share. that's what's going on liz: that's right. stuart: i've got to get to that north korea story. they claim they successfully tested a hydrogen bomb. that has not been confirmed, but there was seismic activity in that area that you're looking at. gordon knows a thing or two about china and joins us. china has lost control of its state and that's not good news. >> especially when the ruler of north korea executed a guy who was married-- basically his uncle, and he was the guy who tilt with china.

now, getting rid of him and his network meant to kim jong un was getting rid of their sponsor. stuart: they don't want going on in their back yard and they must be worried. >> they are worried about you t the-- they sold them launchers that put the u.s. west coast at risk. north korea didn't have a usable weapon until china sold the mobile missile lauchls. there are elements in the chinese political system that have been supporting north kor korea. you don't think it's a hydrogen bomb, you think it's atom become.

>> it's six kilotons the same as the 2013 detonation and probably the same type of bomb. the reason that's important, with the miniaturized device they can put it on the ko 8 missile and that can hit the u.s. that's the concern, whether it's hydrogen or atomic, it's been miniaturized and it fits on their rocket launchers. >> and north korea had four detonations and probably got to the point where they can miniaturize this warhead and mate it to the missile and do things that are technical. once they accomplish that, they hold us at risk because this missile has the range. >> and they can export a miniaturize bomb. they don't have to launch, they can sell it to somebody else. >> on the three previous detonations, iranian technicians were there. iran does have a nuke program in north korea and so what the most important thing i'm

looking at going forward to see if iranian technicians were in north korea for this fourth test. they've been there for the three previous tests and been there for every long range ballistic missile test that north korea launched. so this is a partnership that goes back to about the turn of the century, if not before. stuart: gordon chang, you've got to good information, thank you for bringing it to us. and apple, if not the stock of the day, the news, it may cut production of iphones by 30%, that is huge. jo ling kent, the news, please. jo: layoffs are provided to the factories in china that make the iphone, well ahead of the chinese new year, meaning that the people are being let go because there aren't as many orders from the big iphone, apple, which manufactures iphone. stuart: that sounds like a firm report. that's not a speculative report, that's people let go from supplier factories.

jo: and the government subsidy is interesting. because they're trying to do this to prevent the damage of unemployment here, but i talked with some apple analysts and they say this isn't necessarily bad news for apple going forward 2016 because this may be clearing up the decks of the iphone 6 x, slower sales since last fall and plus, you have the near-term iphone 7 ramping up getting ready to go for what is expected to be a new device this fall. stuart: you see, what you just did, i'm not going to say you put a flaw under apple, but that report couched in those terms suggests that it's not going to plunge way below $100 a share because the news is know the that bad long-term. jo: there are so many complicated issues for apple. you've got the chinese economy as well, the pressure there, how much phones should they make of the 6-x. if it's not doing well, what does it mean for china and apple futures together. and breaking news on the app store as well.

more than a billion dollars spent in the app store in two weeks of the holiday season. it's the biggest they've ever seen at apple and if you look at the numbers, it's actually pretty impressive. $144 million spent on january 1st, their biggest day in history, but the number i thought you'd like the most, stuart, in the u.s., 1.9 million jobs have been created due to the programmers, designers of the apps pushing them into the eco system. i think i put things on perspective on impact of apple regardless how the stock is doing. stuart: you came through big time. jo: always, stuart. stuart: that is-- horror we are at an apple stock now. is it 101, on reached 102 with jo ling kent next to me. ashley: 1103. stuart: be satisfied. jo: it's the stock to watch. stuart: understood, it is indeed. check that big board, please.

i thought we'd stabilized with a loss of 200 points. we dropped 200 in the first few minutes of business and stayed down 225. how about that? and how about chipotle. it dropped to the 430 level earlier liz: criminal probe underway by the federal government along with the criminal unit into simi valley's chipotle there. possible 244 people sickened there including 17 workers. it's the norovirus outbreak, and also they are finding, according to the local ventura health officials, unsanitary conditions at this restaurant. chipotle lost 42% since the high and it's under pressure again this morning. stuart: earlier today we brought you the story out of cologne, and hamburg, germany about vicious attacks on young german women. 90 reports of attacks on german

women. now, that has relevance here because, remember, it was donald trump who said that we should keep all muslims out. it was muslims, allegedly, attacked the women in germany. i'm just hearing, ashley, donald trump is tweeting about the situation. what does he say? >> he twittered this out, germany is going through massive attacks by its people by the migranted allowed in the country new year's eve, think. stuart: the headline, this happened on new year's eve in cologne, gangs of young african and arabic-- >> african and arabic looking young men. stuart: that's how-- >> they broke into groups and gloe gloepd-- groped them, robbed them, mugged them. in one case rape.

appears the authorities couldn't do anything liz: and covered it up. stuart: they covered it up. ashley: for several days afterwards there's allegations of a government coverup and chancellor merkel-- >> we've seen and ashley has been in the thick of it in egypt where this mob behavior and sexual assaults have been on women in the middle east. stuart: it's brought the mig migrant issue up again in germany. you saw president obama shedding tears during his gun control announcement yesterday. roll that tape. >> every time i think about those kids it gets me mad and by the way, it happens on the streets of chicago every day. stuart: media research center brent bozell joins us now. he studies reaction to the stories of the day. study this one, brent.

what did you see? >> well there are three issues, stuart, where the media, with the news media won't brook dissension. gay rights, global warming, and gun control. and what you see in the gun control discussion is that there's only one acceptable discussion and it's the president's position on this, which is gun control. the idea of enforcing law is not part of the conversation at all. so, it's almost unanimous, fox is about the only exception to the rule, where you would-- you will only allow the position to be told that the administration is correct and republicans are wrong on this one. nobody is surprised that it's been that way. the president's reaction yesterday, i believe, was heartfelt, but all that did was just put just tons of gasoline on the fire so now that you've got -- the president's going so far to the activist level that

you've got the new york daily news, remember, saying god isn't going to fix this and when republicans prayed after the mass killing. you've got the new york times the first front page he editorial in 35 years. and c nn counting down the minutes until obama is going to be on there promoting gun control. they're 100% invested in the gun control issue. stuart: what about this? in the new york times today, they sent a report into san bernardino, california, interviewing people about the massacre there and about gun control and some of those people are quoted as saying the president's new measures won't work and i'm going out to buy a gun for the first time. that was the new york times today. >> and some of the president's men are saying the same thing. and i watched on this network yesterday, you had sid

blumenthal on there who was defending the -- yeah, he was defending the president's position and he made the argument, which was really ridiculous, that, well, it's not going to affect 99% of gun owne owners-- >> i'm sorry, i think your audio was interrupted there, you may have heard something in your ear. i was not interrupting the story about blumenthal. >> can you hear me now. stuart: yeah. >> i'll wrap it up quickly. what you heard were the president's spokesman arguing this is fot going to affect 99% of gun owners, if that's the case, why are we doing this? why is he talking about it? the fact of the matter is, everybody knows that law enforcement on this issue is down what, 50% since the president took office and what everyone who is rational in this debate is saying, enforce the blasted laws. that's the problem.

stuart: we hear you, brent bozell, despite the audio problems, we hear you. brent, appreciate it. now we've got this, hillary clinton asked to explain the difference between a democrat and a socialist, couldn't answer very well. we have the tape and we're running for you. oh, and gun stocks down today. up 100% since president obama took office, but could you call it profit taking? gun retailers, maybe a little profit taking there. back in a moment.

>> i'm saying stability, but i'm a little-- >> that's all right. thank you. we've dropped 200 points in the first few minutes and still down 200 points. can you say stability? probably not. look at the dow 30, only one is now in the green, that would be wal-mart, all the rest are down. don't forget gold. the world is on fire, but only

up $10. $1,089 per ounce. gun stocks, they're moving lower right now, but the two stocks we're going to show you are up over 900% since president obama took office. he is a wonderful gun salesman, is he not? and the gun stocks up 900% since president obama took office, but adam, tell me, has there been a rush to buy recently at that gun store? >> absolutely. we've been speaking with the owner, rick friedman, he is the owner of the right stuff protection firearms range in new jersey. you'd be surprised, handguns with women, these are what he's seeing the biggest increase, women account for 40% of the handgun purchases nationwide. and in new jersey, some of the strictest in the country. not only do you go through the

federal background check, but the new jersey one, you have to fill out a form in order to get a long gun. if you've been approved to get the long gun, you have to go back with another form to get a handgun. it should be as shart as 30 days, but in many cases six months. we'll talk about it throughout the day, but the stocks on, for instance, sturm and ruger. if you invested $100 when president obama talked about it the first time. it would be worth today over 1 million. >> thanks very much indeed. and hillary clinton flustered when asked about the difference between a socialist and a democrat. >> well. >> do you want to ask. bernie sanders and you, you're a democrat and he's a socialist. would you like somebody to call you a socialist.

>> i'm not someone. i'm not one. >> what's the difference between a democrat and a socialist. >> i'm a progressive is democrat who likes to get things done. stuart: i really would like to know what is the difference between a progressive democrat and a socialist? i'm dying to know the answer to that. megan, can you tell me? >> thank you so much, how is she not better at this, she's trying to pivot away from the awkward question because bernie sanders is surging in new hampshire and iowa and hip with young people and she doesn't want to shy away from a socialist because he's labeled that and it's working. stuart: you're right. it's the second or third time she's asked that question and doesn't have an answer. i don't understand that. >> i don't understand it either. i don't know how any american anywhere would want to be called a socialist, but debby wasserman schultz said the same thing. stuart: and it wasn't hirn, it was debby wasserman schultz,

flustered. couldn't answer the question. >> there will be the youth vote and the hippy hip vote that votes in some demographics and looks cool. and she doesn't want to distance herself. stuart: maybe president obama moved the country so far to the left. or his party so far to the left that it is indeed indistinguishable from an absolute socialist party or a socialist like bernie sanders? >> among all the things going on in this country and everything yesterday with president obama, not surprised gun sales are spiking the way we are. the fact you're living in the country, you can't be called yourself a democrat, but identifying the socialist e do you want to be identified as a democrat or a socialist? >> i don't want either. i think that socialists are insane and like margaret thatcher, your lovely-- i was going to say home girl. stuart: i'm american american.

>> now you're american. and she said, you're running out of other people peace money. stuart: the trouble with socialism is that sooner or later, you run ott of other people's money. >> exactly. stuart: and that response? >> yes. socialism is when the government owns industries and production. i think she's worried about bernie sanders beating her in iowa and new hampshire right now. >> completely liz: possibly. >> completely agree. i don't know how she's not better at this, running for president for 189 years, how are you not better? >> you are nasty. >> i'm so over it today. obama is taking away my guns and second amendment rights. stuart: megyn kelly-- no, meghan mccain. ashley: i'm not on the cover of

"vanity fair." stuart: give it time. and muslim migrants in cologne, germany, where dozens of women were attacks. >> and he tweeted this, germans are going through attacks in the country. new year's eve was a disaster. think. my take is next. you pay your car insurance

premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone.

then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. >> big tech names, we check them every day. start with amazon, big run-up last year, big drop early this year. moving back up $4 at 638. netflix, run-up last year, big drop this year. 108.

fitbit, big drop yesterday, 18%, concern over competition from the apple watch, for example. fitbit down todays, another 4 1/2% on the downside. big tech down, but rebounding so slightly this morning. still to come, candy carson, wife of dr. ben carson. when the world is on fire like it is today, do we need what a mild-mannered commander-in-chief? ms. carson is live 10:45 this program today. on new year's eve in cologne, germany, numerous young women were sexually attacked and robbed. they were described arabic and muslim looking men. and 90 women so far, it was a rampage. several things stand out. the police did not highlight the attacks and the german media ignored them. that was 0 to surprise politically incorrect news,

it's similar to the obama administration desperately blaming islamic terror on workplace violence. and germany itself is divided by religion and culture. more than a million muslim migrants admitted and the cologne attacks where young women were surrounded and groped has lit a fire in german society. there's a deep division between and that's a dangerous mix. angela merkel until now europe's most confident leader. merkel is isolated because she opened the door to the migrants. she has called the cologne attacks disgusting, but she and the german establishment are getting the blame. it's hard to see things turning around in europe. they open the door on humanitarian grounds, but now, in the face of islamic terror

attacks, a mile wide cultural divide and the cologne rampage, they are stuck, angry and fed up. donald trump called for a temporary halt to muslims coming to america. hillary clinton, among others, roundly condemned him. as europe unravels, what will she say now? . at ally bank no branches equals great rates. it's a fact. kind of like ordering wine

equals pretending to know wine. pinot noir, which means peanut of the night. .... pipes are.

so i use quickbooks and run my entire business from the cloud. i keep an eye on sales and expenses from anywhere. even down here in the dark i can still see we're having a great month. and celebrate accordingly. i run on quickbooks.that's how i own it. stuart: we have some very interesting numbers coming to us right now. i want to start with crude oil. he drew down 5 million barrels of the stock. 5 million barrels last in the stock chain. that should put the price up. it has not. heating oil. they move up in supply.

6 million barrels. we have a long winter. how about gasoline? an extra 10 million barrels of that stuff in storage. a much greater supply line. look at this. we have the energy stocks. all of them. >> in negative isn manufacturing number. if anything, it is going lower. >> you have lessened storage. less supply. let's be clear about this. the prices still falling. now, that dow industrials. still down about 200 points. it is fascinating to watch. it really is. the backdrop to the selloff. the backdrop is this.

the world is on fire. testing a hydrogen bomb. there is unprecedented violence by muslim immigrants in germany on new year's eve. the u.s. is urging calm between saudi arabia and iran. plus, the iran nuclear deal, that is a world on fire. that puts the dell industrial down two points. welcome to the program. is that nuclear deal in shreds? as i just said it is. >> well, we hope that it is not. greetings from jerusalem. evidence pointing to the explosion of a hydrogen bomb. showing what can happen with the iranian nuclear program.

made by american leaders at the same time. negotiators were involved in reaching that deal. this is supposed to be an arraignment that prevents north korea. iran is a much worse regime. north korea, as bad as it is, is not the world's largest state sponsor of terrorism. iran is. recent violations of iran to other agreements. you have to be very concerned. >> do you want that deal to fall to pieces? you want to with draw. i am not familiar with the diplomacy that is going on here.

it does not seem to me that that nuclear deal can survive in the current atmosphere. >> we are very clear. we thought it was a bad deal. a better deal could have been achieved. we want the iranians held to the deal. we want to make sure that iran cannot violate that deal. stuart: are you confident that president obama will hold the iranians to the terms of the deal? >> that is our expectation and our hope. that agreement was signed by the five permanent members plus germany. we expect that grupo world leaders to hold iran's feed to the fire and make sure that iran complies, not just with that, but the spirit as well. stuart: are we imposing sanctions or threatening to do that?

>> the inspection takes place. whether iran is cheating a little bit. it would cheat a little bit. each cheat would not precipitate a strong reaction from the world community. our demand that even small violations be punished to the full measure. let's see if president obama agrees with that. think you for joining us. we're down 200 points. that puts us at 16,956. wesley woods is with us. it is not quite as bad a selloff as we were expecting. dare i say. with a little stability on the

downside, a loss of 200 points. dare i say that. >> stability is there. let's not forget. we're starting this year not very good. quite a bit of stumbling. the energy prices, though oil prices, what is happening internationally. we are reviving our investors to be very, very cautious. i know that you have three stocks that you say will rise powell. make your case. i like at&t. >> the price of stock literally stays stable. the company acquiring direct tv last year had allowed to leverage a bundle of their

programs with mobile applications. they're looking at their applications. getting toward the area of growth. you like disney. a stock to hold. make that case with disney. >> we would not say just jump into this one quite yet. close to 100. we think that it is close to a high. n/a olympic year, it really helps those news programs. looking at $2 billion. advertisers. other avenues. also, 31% of the revenues from disney comp from their parks and resorts. a family that has small girls, we expect that the opening is really going to help them

bolster their position. stuart: i know exactly where you're coming from i have nine grandchildren. good advice. thank you. back to gun stocks, please. lower today. they have had an extraordinary run-up. since the president took office and started calling for gun control. the open carry law. just introduced in texas. you can get out there and carry a weapon in public if you want to. we have some viewer reaction to this. to carry it all in texas, you need a concealed handgun license. the people grocery shopping with you carry concealed weapons. this week, those same people may carry guns openly, but it must be carried in a holster.

important information. thank you very much. republican from texas is with us. sir thank you for being with us. a lot of people concerned that if you go to texas, you take the family with you. you see a guy with a rifle older the shoulder. it makes people feel a little intimidated. how do you react to that? this open carry law pertains to handguns. >> i did not know that. i did not know you can always carry a rifle on your shoulder in texas. i did not know that. certain institutions that you could not carry like that. you can carry a long gun in texas and always have been. they have to be holstered

properly. this is a good law. i think that texans are very strong supporters of the second amendment. they intend to defend that. i tell you, the open carry law, i think, will be a great deterrent to criminals. to terrorists. we had in the tap i to jihad that were taken out by a pistol wielding police officer in the state of texas. stuart: i have been to taxes many, many times. i have never walked down the street anywhere and seen a guy or a lady with a rifle over their shoulders. i have never seen it. i would like to see it, but i have never seen it. >> it certainly is not commonplace at all. we had a concealed carry bill for a number of years.

now it is open carry. i think you will see these handguns being exposed. just bear in mind, folks, and stuart, the czarist trained lice and holders. not only of the paperwork, but also in a test. also, to be on the shooting range. to demonstrate proficiency with that handgun. >> i promise to spend more time in texas. i am very eager to get their. republican from texas. we will see you again very soon. thank you, sir. stocks down. your money is losing some ground today. of 220 points. we are all over this developing story. of next. candy carson. wife of ben carson joins us here. do we need a soft spoken guy as

commander-in-chief in times like this? does her husband ever pound the table and yell? i will ask her next. ♪

nicole: i am nicole petallides. a huge trading year. the dow jones industrial. still down one and a quarter percent. the s&p down 22 points.

looking at the dow movers. walmart and disney. relatively flat to the upside here. nearly 1%. we look at chevron. the latest oil inventory report. part of the oil report. pushing oil lower. hovering around these 11 year lows. thirty-four. thirty-four. i am watching the gun stocks. smith & wesson. yesterday. now the analysts are saying they may not keep up. ♪

stuart: i think that we should sound the trumpets on this. thank you. someone who knows a little something about doctor ben carson. she has a new book out. it is called a doctor in the house. my life with dan carson. candy carson sitting next to me in new york city. welcome to the program. >> it is great to be here. your husband was on the show a week ago. why don't you ever bang the table.

they want to be in your face. be assertive. is he ever like that in private life? >> he is assertive in a calm way. he is probably the one candidate that has the most 2:00 a.m. calls with life and death situations. you have to be calm in a crisis. someone who can control the temper. >> there is a whole field of candidates out there. does he not sometimes want to bang the table and be more demonstrative? >> he can become passionate. he still does it in a quiet way. he is just not in your face. that is just not him. he would not want to be elected on anything else. changing who he is.

if you get into that office, you want people to choose who you are and what you represent. if you agree with those principles, then that is great. stuart: you cannot be what you are not. in a presidential election, when you are out there all the time, you cannot pretend to be someone. >> oh, i think you can. there are a lot of people that try to work with those experts. you should have these kinds of gestures. when that happens, i think that it does not go over as well. stuart: it is called media training. doctor ben does not do it. >> he has had some. i think he did pretty well with what they did get i saw one session. i appreciated some of the pointers he was making. smiling is a good thing.

it always is. i promise to read the book. i know we have a few things in common. >> yes. australia. you say that one of your sons is there now. stuart: guess. australia. the schools. their reading rooms and things. we not only promote high academic achievers because their future leaders, but we put them in meeting rooms. we have 130 of them now. >> we have producers that are banging the table like some people while ben carson to do some of the time. heartbreak. heartbreak. that is what they are telling me. >> you can focus on what the problems are.

get information from the people that can help you. >> that was awful. excellent stuff. thank you for joining us. >> it has been great. thank you. stuart: donald trump says if we want to stop donald trump, we have to get tough on china. he bangs the table. top of the next hour.ial st ♪ so let's start talking about your long term goals. knowing your future is about more than just you. it's how edward jones makes sense of investing.

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stuart: our very own liz claman live in las vegas. thank you for joining us. what do you have for us today. >> two hours from the doors opening. attendees looking for the hot trend. we were showing 3d printing last year. they print 3d right now why print the quad copter when you can actually have the actual drone. huge. huge operation here. last year you were not allowed. a great company that is doing something. let's show with. these are for hobbyists.

they are starting to fly right now. tell me what they can do. >> they can actually battle against each other. two different signals for each other. they also may lose power. start to decrease. the winner is still flying. liz: customizable little lights. >> follow me. this one would follow me as i am walking. it stays within a certain range. liz: the faa actually has a boost this year set up. you are supposed to register drones. is there any concern about what is going on at north korea? >> i am always concerned. i hope that everything will work out for the best.

>> that is the diplomatic answer. $79. stuart, it is a very cool thing. let's do the turtle turn. there it is right there. they can turn itself over. stuart and ashley, back to you. ashley: varney is three minutes away. ♪

stuart: the world is on fire. that is no exaggeration. i we confident in our leadership? north korea claimed it had tested a hydrogen bomb. much more powerful than they atomic tom. the fight between the saudis and iranians brings in john kerry.

he is desperately calling both sides trying to prevent a hot war breaking out. in germany, for over a rampage. young german women were sexually assaulted in public. in afghanistan, intense fighting. with a list like that, it is worth asking who is in charge of america's foreign-policy. are they equipped to deal with a world on fire. president obama stuck with a failing nuke deal with japan. john kerry. does he still think it is all about climate change? susan rice, does she still blame the debacle on a video? a pure politician. a former obama campaign speech writer with a masters in creative speechwriting. no, this does not inspire confidence.

this is the team that invokes climate change up the cause of terror. cannot even use the words in islamic terror. the president comes back from vacation and talks gun control. just as north korea claims technology and our soldiers fight desperately in afghanistan. the world is on fire. little confidence in american leadership. this is not good. ♪ just after 11:00 o'clock eastern time. let's get straight at it. stock market down. all yield down. that is the back drop to everything that is going on today. look at this please. it showed a big increase in the amount of heating oil.

the price is just over a dollar $0.08 per whatever it is. very interesting story right there. warm winter. less use of heating oil. how about this one. the world is on fire. north korea says it tested a hydrogen bomb. tensions are rising. there is an understatement. migrants abusing women in the street. more weakness in china's economy. look who is here. you have been right. predicting what is going on in the market right now. the world is on fire. is that really a factor in today's stock market here. you have the abco grid of all of these geopolitical issues. no longer keeps this market

going. you have a very, very serious day of reckoning upon us. not only these isolated incidents, but they have to look at everything converging. >> i wake up this morning and see the headlines. this is anxiety. nailbiting time. it is all coming together at one time. tell me about apple. down on reports that they may cut production of the iphone by 30%. china was put on this pedestal. china china was going to drive growth in tech elegy. drive growth off the board. extreme slowdown. if apple does not have china to support its growth, apple is not growing. apple is contract to.

a very negative position for apple to be in. i think that the apple will fall. i think you will have a lot of volatility. when the traders get a hold of a market that moves like this, they take advantage of the big up-and-down. anything that we have on the horizon, if we look back home a it was always the fed. they always came out and said they have tools. now, all of a sudden, you are hearing these whispers of asset bubbles. when you remove that safety net, you will ultimately have a very ugly and to it all. stuart: do you think that they will reverse course? we will resend it. of course. that was their plan all along. they were out of options. the only thing that they could

do is take back what they already gave. the interest rate hike. you will probably hear that talk very soon. that is quite a prediction. if they back away from the rate increase of last month, people would not say they know what they are doing. they knew that they created this monster. they knew that the market was the date it to low interest rates. they knew that after prices were distorted. they just did not know the extent. >> the dow was down 205 points. you said that about the fed. now it is down 282. see what you did. thank you. he will be back. thank you very much indeed. let's get to politics for a moment.

fox news. donald trump commenting on north korea's claim that they tested a hydrogen bomb. roll tape. >> nobody is discussing it with china. china should solve that problem. if they do not stop that problem, we should make trade very difficult with china. without china, they would not eat. they would not have anything. china should do it. stuart: katrina, welcome to the program. are you there? >> iem. donald trump is on dangerous ground. talking about going after china. a trade war with china. the world is on fire. are you comparable with this? >> i think that mister trump was one of the first.

pointing out that north korea could be a problem. china is responsible for most of their food and energy. it will be a problem. japan will take samples now. we really need to know what is going on but north korea. they usually use their veto power on the security council to help north korea. north korea and china friendship treat will end in about five years. they should be looking at how they will treat them moving forward. stuart: we have this disturbing story from germany. 1000 muslim migrants sexually assaulting up to 1 million women new year's eve. donald trump says we should ban muslim refugees from entering the united states. this morning, he said this.

the migrants allowed to enter the country. new year's eve was a disaster. he jumps on his shoes real fast. >> he really does. mr. trump is very concerned. this is just an example. you probably will not even hear that story in the mainstream media. that is really sad. in administration wanting to bring tens of thousands of more immigrants into this country. it is something that we need to be discussing and talking about. we have serious problems all over the world. we need to start moving forward. that is donald trump. stuart: are you moving resources into iowa? leading by a wide margin.

i you putting people and money into iowa right now? >> oh, absolutely. we have a ton of support in iowa. i think that people will be surprised on caucus night. i think mister trump will win iowa. there is a movement across this country. it is the best to handle terrorism. the best to handle the economy. that is what this country needs. yes. i am very confident mr. trumbull when i was. stuart: it is a very busy day. we wish we had more time. a french author criticizing america's democrats for censoring americans free speech in the years since the c of dough attacks.

>> americans are losing their minds. the democrats are trembling with fear. they are asking us to respect the fact that the most violent and fanatic among us could one day govern our democracies and oversee our independent publications. she put a post up. she is saying the bedrock of freedom is the right to offend. she is calling us elect is saying there could have been a rationale for the attacks of what happened on paris. they are censoring muslim cartoons.

>> she is greater: for america's democrats on the issue of free speech. >> watch out. you want the fanatic and most violent among us governing us. that is the fear she has we are heading. stuart: thank you very much, indeed. we are still down 200 points. dare i say that is stability. i can say it, i suppose. ashley: you can. stuart: oil is down. 3439. two markets. both down. those virtual reality. up next. a guest that says i am right. >> along with this market. ♪

stuart: a big splash at christmas. this morning, we are down again.

>> not even competition. it is actually not even as good as the apple watch. the apple watch has been a huge disappointment. >> to the midwest. folks they are experiencing the worst flooding in more than a century. what is the latest, jeff? >> veteran news for you. take a look at what this thing looks like. it is made out of concrete. that is the best way to hold stuff back here. you can see the swollen illinois river. record levels are breast-feeding this morning. large traffic. they hope to get those rolling

soon. i leave you with a shocked, perhaps. a railroad bridge across the illinois. look at how close the floodwater got to it. the river has topped out. we have better news. they dodged a bullet here. >> that is television. good stuff. thank you very much, indeed. stuart: reality systems. facebook owns it. my next guest says, from the university of minnesota, you put on the headset. wrapped around it like this. i did see stick. is that true of a lot of other people as well?

stopping the problem. >> ahab not succeeded. we fixed it. we fixed it. it does not seem to have been fixed. stuart: you did a study of this. what percent of people? >> we used it in my laboratory. we found 56% of the people who played the game got sick in less than 15 minutes. stuart: less than 15 minutes.

$599. ashley: $599. >> i take it you would not be buying one of these things. >> not for personal use. stuart: how about the other half? a very exciting piece of technology. it is a great yellow fun. >> can't you figure out a way to not get seasick from them? >> i think so. the way that the industry has been trying to do this is they simply have not been successful. tell me how they can get over the seasick problem. >> the issue is, as you say, not

everybody gets sick. some people do and some people do not. it has a lot to do with the way that you physically move your body. you can use that information to monitor the way she is moving. >> a lot more than $599. we appreciate you. check the dow in jones industrial average. 176-point. down about 250. how about those big-name technology stocks. netflix is up $2.

apple. google. microsoft. they took big losses yesterday. we will have more varney in just a moment. ♪ [vet] two yearly physicals down.

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it is back up $2.81. >> a have some very ambitious plans. they will make some real money in 2016. this is the expansion. mark my words. look at this. isis. oil revenue. down. >> their airstrikes are starting to have an impact on oil production. that is pretty impressive. cutting it back down to 34,000 today. the oil being produced by isis in the last month. >> that is an interesting update. we will take it. all about the median price of an apartment in manhattan.

what do you get for 1.1 million. about 1000 square feet. that is it. $1 million in charleston or nashville. cheryl, what do you get? here's what you get. four bedrooms. for bath. 3100 square feet. this home, if we have the photos, built in 1880. it has a fireplace and a bedroom. it is a nice restored home. i like to try to find these restored properties. >> okay. nashville. ashley webster, by the way.

>> that point. even better. here is another four bedroom four bath. this one is 1.5 billion. hardwood floors carpeted her out. a tennis court. i thought you would like it. they have a tennis court. all of this for what you are paying for less than 1000 feet. >> do not insult new yorkers, please. good stuff. thank you, cheryl. judge apologize no on hillary clinton and north korea. we will explain it. ♪

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and a $200 savings card.

. stuart: can it be? stock alert. can it be? are we coming back a little? yes, we are. down 250 but now down 168. how about oil? coming back there? not so fast -- "no" is the correct answer. down a buck 55 at $34 a barrel. how about those big name tech stocks. you know, we used to cover them every day, and we still do. amazon, netflix, google, facebook, microsoft. all of my started the new year in the red. pete schneider is with us.

he's the ceo thereof. are you prepared to say that those big name tech stocks that we just put up on the screen and which we've covered countless times in our history, are you saying that that was a technology bubble and that bubble has burst? >> stuart, absolutely not. i mean look at the growth that netflix is continuing to have. amazon absolutely owned christmas. and apple, apple did 20 billion in just their appstore alone in 2015. put up a billion one just in the past two weeks around the holidays. so i don't think it's a bubble at all with those four stocks, stuart,. stuart: those companies that we've got on the screen now, they were the market in 2015. they left everybody else behind. all the money poured right in there. and they have come down. you think the -- coming down, the correction is over for these stocks? >> stuart, i'm not certain. i think certainly netflix will

continue to grow. apple may have a tough quarter or so, but i think they are terrific buy right now. if you're going to hold on for the next couple of years. there's no reason we're two, three years from now it shouldn't be a $200 stock. so apple's going to continue to have great growth really through their subscription services and appstore. that's going to be an absolute monster. they released the iphone 7 in quarter 4 of this year. that's going to dominate the holidays. so, yeah, i'm not worried, stuart. . stuart: do you own them? verbal disclosure. >> absolutely. i own apple. i have a long bet on apple without a doubt. stuart: okay. now -- >> i wish i bought netflix a little while ago. stuart: don't we all. throughout the program today, we've been taking, look, the world is on fire. all hell breaking loose all over the place in the rest of the world. is that a factor in today's stock market decline here?

>> i absolutely think so. it was terrifying to hear what came out of north korea last night. the continued disaster that we're having with isis, and we seem to have a ceo that doesn't have a plan for the rest of the world. instead we're focused on trying to criminalize law-abiding gun owners in america. yeah, i mean if this were -- if america were a publicly traded stock, we would be on the downfall right now because we have lousy management. stuart: do you own gun stocks may i ask? >> i do not, and i wish i bought smit smith & wesson right when obama got into office. they have been a rocket ship. stuart: you should have seen that. thank you. >> thank you, stuart,. stuart: i have to get back to fitbit. yesterday revealed its new device. made a big deal about this thing. but the stock dropped 18% today down again today. down another 2%. what's wrong with the new

fitbit? >> well, consumers aren't impressed with the capabilities or design and that's the bottom line. if you look at this phone, it's about $200, it's going to go on sale after launching. it lasts for five days, and it has this nice battery life gps. but if you look at the device itself, people say it's lacking the ability to track all of your fitness and all of the things that apple watch can do and the design of it is rather cumbersome and looks like your apple watch. stuart: i'm looking at it right now. and it's a watch. it tells time. >> it tells time and tracks you and can do lots of different fitness things as well. it might be complicated for you, stuart. [laughter] >> but here's the thing. ashley: the big hand is on the 12 and the little hand -- stuart: wait a minute. where's big ben? [laughter] what's wrong with the color with these things? >> yeah. there's been some color criticism. but if i think if you look at what the fundamentals of this

watch is and the potential competition from under armour, fossil, and then the second edition of better version of the apple watch, that's why you see the stock sinking 18%. and this is a company that's very popular. at the end of the year, fitbit was one of the most popular apps in the appstore, the stock up 38% since ipo. >> you know what apple should do? . stuart: go on. cheryl: apple should combine the watch with the ipod. that would be the hot seller. if apple could do that -- >> you're an experienced user here too. we both have fit bits, and they're lacking. >> very lacking. stuart: i'm trying to get this thing. my apple -- ashley: how to turn it on. stuart: no, i was trying to make it like a real clock. big hand little hand, and show it to jo ling if she could tell time. [laughter] >> thanks, stuart. cheryl: jo ling helped me with my iphone yesterday, boy. >> i'm here for you guys. stuart: something serious now.

judge napolitano. now, here's the story -- >> where's your wrist watch? . stuart: i don't know. >> i still wear one for the record. stuart: can you get to the serious stuff on this program? got my name on it. let's get serious here. north korea. they say they've successfully tested a hydrogen bomb. not everybody's convinced that they actually did. but they said it. what's the relation to hillary clinton? could it be in her e-mails? that's why the aforementioned judge napolitano is here. there is a north korea connection. >> there is. so 45,000 e-mails have been released. 1,225 in the category of confident, secret, or top secret, which she calls classified. four of those top secret, one of those satellite photographs of north korean nuclear facilities. we do not know if it was the same facilities that these

characters in north korea are now claiming they successfully detonated the other day. but we do know she received on her server nonsecure and sent to others on their nonsecure servers these satellite images. and we know as a matter of federal law that all images from satellites of foreign installations are per se top secret. you can reconstruct where the satellite image was taken from and figure out where the satellite was and the positioning of the satellite is always top secret. stuart: so that would be a legal problem for her. and now with this claim from the north korean's, it is a political problem as well. because she's linked right into it. >> it is a legal problem that is known in the streets as a felony. it is coming for her at the worst possible time. because the fbi will -- i

believe -- this month wrap up its investigation, invite her to meet with them. she's free to tell them she doesn't want to meet with them and then make a recommendation with the superiors in the justice department. stuart: ouch. i do have one more issue, and i want to raise it with you now. chipotle. they've been served with a federal subpoena, part of the investigation into the norovirus in one of the restaurants. that's a subpoena to testify? >> no. it's a subpoena to produce documents. so there's two kinds of investigations that could be here. one is a target of an individual that they think committed a crime. stuart: okay. >> the other is an effort to find out what the heck happened? how did these people get sick? we do not know which type of investigation this is. they may have somebody in the inside who said you know what? these managers look the other way when the stuff wasn't sanitary. or it could be they knew it was unsanitary, and they falsified documents. or it could be we don't know

how it happened. we'll give you everything we have because we'd like to know how it happened. it could be any one of those scenarios. stuart: a very good idea federal investigation sends that stock right down. even though we don't know the full nature. >> correct. even though it may not be an allegation against the corporation. correct. it will have a disastrous economic and he can't flaps criminal effect. stuart: all right. judge napolitano always straightens things out. we appreciate that. >> what time is it on the apple watch you have? . stuart: new york is 11:40 eastern time. >> good job. [laughter] . stuart: all right. you done? you done. the world economic form in switzerland where all those billion washes the liberals gathered together to celebrate each other basically. they're taking a turn to the left. are we surprised? no. we'll explain it, though. next

. >> i'm nicole petallides with your fox business brief. we're off the lows of the day but still down arrows across the board. we see the s&p 500 down 17, the nasdaq composite also to the downside and the dow jones industrial average down 175 points right now. north korea oil's big decline a global slow down. monthly jobs report on friday and federal reserve. what will they do in 2016? these are some of the things we're following as oil is on track for the lowest in several years. in the meantime several of these are hitting lows or multiyear lows, marathon oil, for example, and many of these

are down 9 and 10% today. airlines have up arrows names such as southwest airlines up nearly 3%. chipotle, the safer sales would be worse than expected and that stock is down 40% since chipotle started. another lagging down for chipotle. start your day every day fbn a.m. you owned your car for four years, you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... you're like nothing can replace brad. then liberty mutual calls, and you break into your happy dance. if you sign up for better car replacement™, we'll pay for a car that's a model year newer with 15,000 fewer miles than your old one. see car insurance in a whole new light. liberty mutual insurance.

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fbna.m.. stuart: remember? the president teared up when announcing gun control measures yesterday. all right. what's the reaction from gun scorns want to be gun buyers? adam shapiro is at the gun range in randolph, new jersey. what's going on there today? >> well, people are coming here as they do every day to shoot some firearms on a good week they'll have about 1,000 people come through. but let's speak to the owner. rick friedman has operated this since 2011. you have been telling me that there's been a surge in people buying firearms, we see that in the statistics, but of handgun purchasers, 40% now nationwide are women. and you see that here as well. why is that? >> i can't tell you both purchasers and our customers. so actually our members. we have 40% women who come and shoot. they're looking for personal defense, looking to get involved with firearms. it's been a pleasant thing to say. >> now, off camera right now we have three young women, they're 21 years old, codes,

they came here to shoot guns today. two of them have never shot a gun in their life. why do you think we'r they're interested in doing it now? >> we see it every day, whether they're young, old, whether it's a personal protection or for the sport. it's definitely on the rise. >> really quickly. the american enterprise institute crunched the numbers since 1994 i believe it is. in this country gun homicides were 7 per 100,000. but today it's 3 per 100,000. so the number of gun homicides has declined over the last almost 30 years or 20 years. but the number of guns that are owned now surpasses the actual people in the country. what does that say to you. >> we've had a reverse effect. basically more guns, less crime. we are trying to promote that. promote gun safety. and when you have a well-armed and a safely armed citizenry, you're going to have a safe society. >> rick friedman, thank you very much. we're going to be here all day, stuart. we're going to have more throughout the day. stuart: good stuff.

you won't see that on cnn. [laughter] adam thank you very much indeed. i've got to get to the -- how do you pronounce this thing? the world economic foreign -- they're turning left officially. this year sessions include the future of forests. gender parody. a die in the life of a refugee. he's laughing but charlie gasparino is going to go over there. >> by the way, girls with guns is hot. a whole fetish of girls shooting semiautomatics. i have to transition here. cheryl wants to throw something after me. cheryl: after the discussion yesterday with porn stars that lasted five, ten minutes -- ashley: there's a theme, charlie. >> listen, when i was reporting for you guys last year, and that was the first time i went there. what struck me is this sort of soft socialism that is

preached in terms of solving economic problems throughout the world by the speakers. i mean it just blew me away. and now that was me last year. i would say -- i didn't look very -- a little. cheryl: you have -- >> i was bulking up for this trip. that's last year. but now i think you can make a case on what they're advertising in their website. they're going full on leftism. you're going to see -- and it doesn't surprise me. think about who runs europe. who are these economic leaders? most of them are socialists, and think of who in the u.s. goes to these things and think it's really great? it's these crony capitalist bakers. larry over at black rock. and it really is, listen, it's in my contract, so i've got to go. and, by the way, the parties are good -- stuart: wait let me get serious for a second. look, -- hold on a second here. this is serious stuff. >> right. stuart: we've been reporting, and it's on the front page of the wall street journal, "the new york times" about sexual

assault by young muslim migrants took place on new year's eve in hamberg, germany. 90 criminal complaints have been filed. >> yeah. stuart: germany is an an uproar over muslim immigrants and they're going to have a day in the life of the refugee? >> it is what it is. it is a leftest confab. you know, it calls itself an economic form, but they should say the leftist economic form. and if you listen to -- this private sort of meetings that go on where, you know, bankers discuss, you know, real stuff that they don't let the press in. stuart: yes. >> but if you go to the public stuff that the press is allowed in, it is brain washing. it's leftest brain washing and actually funny. these are business journals, they sit around want to think they're having big thoughts. i went last year, and i reported it for you.

i thought it was hysterically dumb. the parties are amazing. he's got a great wine party. stuart: just get over there and tell us what's really going on. >> by the way, i met swiss miss last year . stuart: big deal. just get over there and tell us what's going on. >> nothing is going on. stuart: it makes me mad as hell actually. >> it's in my contract. stuart: italy and europe going over there talking socialism. doesn't it make you throw up? it does me. >> no. the wine is great. ashley: . stuart: get me out of this. i'm losing my temper. more varney after this. at that point in time you pay your car insurance

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stuart: now, here's an interesting guest with a useful product. he's on the new forbes 30 under 30 list. that means he's one of 30 people under 30 years of age who are making big waves. the cofounder of scoli, the app that streamlines looking for scholarships. and here he is himself mr. christopher gray. i get the app, i'm a parent, i have college-aged kids, what do i do with your app? >> yeah. thank you for having me.

it is an app that uses eight parameters such as your state, gpa, who are people going into college, current college students, and graduate students going to college. it turns looking into scholarships into literally two minutes. stuart: that's good. so i plug in so to speak, get the app. >> yeah. stuart: get into it, and i put in my child's interests, all the stuff about my kid and then up on the screen comes the scholarships at various places that are available to me. is that it? >> yeah. instantly. so basically instead of spending months looking on different websites, just puts it in one place for you really quickly. stuart: so you're plugged in to every scholarship program at every college everywhere in america. you've got information to sell. that's what you've got. >> yeah. so basically, like, we focus right now on private scholarships. so scholarships coca-cola, the bill gates scholarship, things like that. and these are awards that a lot of people don't even know about.

so we're really giving people access to money that didn't know existed. stuart: who do i pay? is it a free app? at which point do i part with some money? >> yeah. so it's 2.99 right now in the appstore, but we don't sell any of our user information. it's a very high quality source. and we also have it where corporations can actually get scoli for their employees or nonprofits can get it to serve their employees who have kids or who have family members looking for college access to the platform for free. stuart: real fast. how long have you been in business? >> really just a year and a half. and we've been on shark tank -- we've done a lot of different deals. stuart: how many people have used the app? how many people have got it? >> right now over 600,000, and we helped students raise over $20 million in scholarships in just a year and a half. stuart: christopher gray, that's excellent. thank you very much indeed for joining us, sir.

news you can use. >> thanks. stuart: more varney after this we live in a pick and choose world.

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with sleep number. >> 16,000. and we're very close to it. i think perhaps by the end of the week, we can get there. but i think if we do see a general flushing, it could happen very quickly. we're not quite in panic mode yet, but we could get there. stuart: that was at the beginning of the program suggesting we might get down another 900 points down by the end of this week. now, there's a prediction for you. ashley, it looks to me we're now down 209 points,. ashley: we started to come back. we were down 160 but now oil down 34.31. stuart: ouch. ashley: starting to get closer and closer to down below 30. stuart: that's the relation. oil down, stocks down. ashley: yeah,. stuart: that's because oil is down because of a slow economy

and if it comes down, lots of countries have trouble. ashley: a nervous market. one more headline, a bad headline. stuart: ashley, you know what you're talking about. pretty good. ashley: maybe. stuart: somebody else who knows what he is talking about is neil cavuto, and it is now his time. neil. neil: i want to shoot something what's going on in north korea. these are folks cheering. yes, they found out that fox business is hosting the next week's presidential debate and they're let the. no, actually this is from the testing of a hydrogen bomb. that's a pretty scary deal. and even if they didn't do exactly what they said they would, we're getting indications of unusual seismic activity in the area. so something big went off. connell mcshane on why this is such a big deal. connell, what have you learned. >> well, it's interesting. we're looking at the difference between an hydrogen bomb and atomic bomb, which is most of our points of reference of this, in world