volatility today and possibly tomorrow. things will settle out. think is huge buying opportunity for people, particularly european banks. maria: you've been putting your money where your mouth is. >> we've been buying. maria: thank you both. good to see you gentlemen. at that have a great day. here is charles payne in for stuart. >> name charles payne in for stuart. another huge day day for your m. futures near the lows for the money. it will be early and we'll be all over the place. we could go either way. i'm talking tick for tick. we're looking for stability. but volatility is the operative word for the day. later this morning outgoing prime minister david cameron will address parliament. will he call for unity or back a petition calling for revote. presidential race shows hillary clinton ahead in the polls. most recent including "wall street journal" poll, five percentage points. she has a double-digit lead

"washington post" survey. the trump campaign will be here throughout the campaign, throughout the program to respond. take a look at this. it is a plane. it burst into flames. we have amazing video for you. very scary thing. could be another bumpy ride for markets. so buckle in. "varney & company" is about to begin. charles: got to start with your money. we were down 170 in the futures. we'll open in the red. want to check on oil. oil was up 50. a lot of experts say 45.44 support is getting there. down over a dollar. gold is a big winner. two year highs right now. lot of people shifting in with their money.

that is historical great store of value. people looking for safety. golly 10-year-year-old, 1.48. there is the british pound, getting pounded at fresh 31-year low. getting crushed. some people think there is silver lining. we'll get into that later. no silver lining for british banks getting slaughtered. barclays down 20% on friday. royal bank of scotland down 21% friday. look at that, down another 21%. what the lech. we may have to bail them out. liz claman, host of "countdown to the closing bell," they will join us throughout the hour. liz, to you first, market stability and volatility, what are you feeling? >> ad just, adjust, adjust. anybody who doesn't and isn't fleet-footed will fall flat on their face. world is full of faces who got their face smashed in by a bad

investment but got right up. 4:00 a.m., i'm looking futures, the dow is down 39, 49 points, not so bad. as you said we went down more than 100. perspective what was happened exactly this time on friday, down 600 points in advance of the markets. we're seeing adjustment period right now. charles: yeah. you're nodding your head, excited about the whole thing. >> i'm excited about the whole thing. i think chicken little is great children's story. not a great investment strategy. charles: in other words, don't run for the hills. be cool about it all. i will give you examples, made turn on february 11th, it looked uglier than this. people were selling. it was best day to buy. we want to head to london with ashley webster. there is the online petition and scotland. tell us about the online petition first? reporter: don't believe that. this is in "the daily mail" today. not a plot to block "brexit."

good headline, will sell newspapers. 17 million people voted to get out of the eu. that was over a million more than those wanted to stay. that is end result. 50%, plus one. they did it, no referendum. those that lost would love to have another one. fact remains it will not happen. maybe down the line when new government is in place. maybe in couple years they approach the eu with another proposition. charles it will not happen. with regard to scotland, look, we strongly voted to remain in the eu and it is england's fault for dragging us out. we'll have our scott tisch parliament vote no to "brexit." makes no difference. british parliament will make the deal. there will be no second referendum even a slew of people, former british prime minister tony blair is putting out that suggestion. not going to happen. the petition, three million signatures it was put together

by those people campaigning to the get out of the eu a month before the vote because they were convinced they were going to lose. apparently already 78 to 80,000 of those votes have already been seen as fraudulent. so don't put any store in any of this. makes for a good headline. that is for david cameron later today, he will not talk about another referendum. he will call for unity. what is interesting, many people say he shouldn't quit at least not now. he should be the one who smooths the path for the uk's exit out of the european union. he speaks in just over an hour. just over an hour 25 minutes from now. should be very interesting, charles. charles: thanks a lot, ashley. many people on the left were saying anyone that supported this referendum were bigots. that was painting -- "washington post" headline, racist undercurrent alleged in uk vote to diss the eu. how were they wrong? >> "the washington post" embarrassed itself over the coverage. muslim community, pakistani community, very much voted to

leave the eu. the fact that working people of all races, all ethnicities were voting to leave the eu. this was not anti-immigrant in general vote. this was vote against un-- immigration and open door from the eu. we want fair immigration, good trade with everybody, not limit ourselves to the little bureaucrats across the channel earnings i read a lord ashcroft poll, people voted to leave, 81% didn't think multiculturalism was good. 80% didn't like immigration policies. feminism recalls 74% didn't like that. any connection at all with those sort of things or was the overarching theme controlling our borders and our own sovereignty. >> many people came back the issue was primarily sovereignty and not immigration. i got to say to you, before we say this pollster said this, this pollster said that, the pollsters failed disasteroustry to predict "brexit." they said remain by 10 points.

charles: i didn't sigh that poll. i know most polls had remain but -- we have a lot to talk about, we'll be right back. get to politics here at home. two now polls speaking of which, hillary clinton ahead of both. "wall street journal" has her ahead five percentage points. "washington post" poll, huge lead there, 51-30 nine. joining us deaf dewitt. you're a -- jeff deit wit. you're a trump guy. he came out blasted "washington post" poll, last sen or eight have been against donald trump by varying degrees. of them he is under 40%. >> well the polls always catch up with the issues. he leads on issues. leads on national security and economy and jobs. the polls will reflect that eventually. remember these polls are looking at nation as a whole but this is not a national popular vote. it comes down to whether we like it or not, due to electoral

college, it will come down to 12 battleground states, one of the biggest prizes ohio where he is tied with clinton in ohio. he leads two to one with independents. he leads five to one with evangelicals. all of that will play a role and catch up as america realizes hillary clinton can not be trusted with the white house. as her real record as secretary of state is unveiled bit trump campaign. yet to really hit her on it and he is only one that can bring our country back. the "brexit" is a bellwether how this election will go. tha went with mr. trump's side, country voting for freedom to take their country back. that is the same thing he is running on here. charles: it is interesting, i know when the polls started shifting, "washington post" poll donald trump had lead. your side was cheering pretty loudly. then it started to drift. a lot of people say, well, that last poll was taken after the jobs report. wait until that catches up. then, he drifted a little bit more, everyone said, hey that was after the orlando shooting. wait until those polls are

taking. now you're saying the "brexit" will be inflection point where the rest of the country sort of gets it all together? >> actually, to tell you the truth, i think it will be the convention. i think once we show that we're all on the same page and that everyone comes together, we need republican party to really get behind donald trump. as you here there are little factions here and there trying to steal the nomination which won't work. after a republican goes into the voting booth, no republican i know of that can check a box that has a clinton name next to it. that is the real inflection point where donald trump will start to gain a lot of ground. charles: jeff, i want to switch topics, before i do, you mentioned convention. if donald trump doesn't allow case sick and cruz to show up. there were a lot of votes in the primaries for non-donald trump candidates in gop primaries. maybe the convention will look great to the public, everyone there will be pro-trump person but is that really going to help you get out those disaffected

republicans who aren't sure? >> you know, i'm hopeful that we all can come together. i do hope, kasich, cruz, everyone else does show up to the convention and we get on the same page. we have to remember we are republicans and we have to act like it. we have to come together behind the nominee. i hope they all realized donald trump received 14 million votes, millions more than any republican candidate in history of the country, they have to get behind that. this is movement in the country. of course there are people are disaffected they had their own sites set on the white house but they have got to get behind the presumptive nominee, soon to be actual nominee. i think we all can come together. i hope they show up. i hope they're there. charles: do you strong arm them? do you offer them something? democrats have same issues. bernie sanders is laying down ultimatums like he got the most votes. hillary offered him a olive branch sorts. he wants more. that is slippery slope you go down in negotiations and you

give a little bit the person who wants more, the person in a lesser position. is there some kind of common ground could be found before the convention between the cruz camp and the trump camp? >> i think absolutely there is. we've already seen, we've been contacted by many cruz supporters that are coming around every day. it is trickling in. i think it will be a water fall in days leading up to election. ted cruz is good guy. i hope he comes around. and you nailed it, bernie sanders still has not come on board with clinton. we're taking that down to the wire. we will as republicans have our issues solved a week before they have their issues solved. i think that will give us a leg up. charles: no doubt, history shows, if it is played right, it could give donald trump a huge springboard going into the summer. let me ask you about the "brexit," over the weekend a big topic on sunday talk shows, there is obviously correlation between what happened in the uk and what is behind the rise of donald trump, to a certain degree bernie sanders. some are saying though it is

xenophobic fear donald trump is stoking in this country. michael eric die son on "this week" said, donald trump amplifies the worst instincts. his nationalism, his white racist nationalism that wreaks terror on american democracy. left will paint ultimately gop nominee to racist from certain degree. they're pounding it hard with donald trump. >> really sad. the moment that any republican announces they're running for president they instantly become a racist in the messaging by the left. it is said, same thing to mitt romney. did same thing to george bush. part of the standard playbook. i think it is terrible. if you look at donald trump's history, he is absolutely not a racist. so he is been very good to, you know, not only that but with women in his organization. these things they paint him at, the ads are not true. he wants to put america first. they say that is xenophobic message but he is good with

every race and every gender. everybody that is here but just wants to know that we're safe. when we bring people from other countries, syria and countries where terrorists are born, into our country we want to put them next to our kids in our neighborhoods we'll be safe. i think that is something that everyone should get behind. why would we not want our neighborhoods to be safe from terrorist acts going and growing in the world. so you know it is not xenophobia. just keeping our country safe. >> jeff, liz claman. everybody wants their country safe obviously. there is as charles pointed out the correlation what happened in england and what is going on here where people feel like being left out. they're not getting tax breaks other wealthier people are. you have your candidate, it has been reported that he is actually going to not pay that much in taxes or he hasn't in the past. how do you square that with people dying to vote for donald trump and don't have a lot of money and can't extricate from that? >> when you are an entrepreneur of any sorts, go to palo alto,

california, to to silicon valley you have ups and downs in market. with someone that vast of wealth in down markets they have years they don't pay taxes. in up markets they have years where they pay extraordinary amounts taxes. when you average it out they pay more than a lot of us. that is how it is worth net worth is tied to the stock market or real estate market. charles: you're very reasonable. i love having conversations with you. you just mentioned the market. we have to shift our focus back there. have a great day. we know the markets are opening lower, the worse i saw was off 170. this may not be too bad. worst day of the year was february 11th. that wasn't the worst day, but we were down 2, 300 points. it was inflection day. you may see a lot of red but may be a green sign. we talked about the european banks.

talk about the u.s. banks on friday they were done a lot. they will be down a lot this bank of america down 7% on friday. another 2% today. morgan stanley, 7% friday. more pressure today. we'll watch banks very closely. i'm not convinced they ever recovered from the 2008 slaughter. i really don't think they have. despite the financial hit we're taking, ambassador john bolton says americans should be happy that britain is leaving the u.k. mr. ambassador, thanks for joining us. why should we be throwing out confetti and the pom-poms? >> this important step for britain and good one for them and one for the united states in many, many respects. take biggest picture of all, this vote by actual citizens is a thunder strike against the concept of global governance. the notion that more and more international organizations, international agreements, super national entities will really begin to take control of the

planet. at continental level the european union is global government's broad home and british people have said, actually, we can do without it. so we owe the british people a real deep thank you for making this statement, which i think is going to have effects all around the world at the macro level. that is the most important thing they have done. charles: secondarily, start with europe. this euro centric movement started six years or so ago. started picking upteam in places like finland. in france, but it started to morph into other things as well. some are saying hey, one thing to say we don't want a common currency, we can't control our own currencies and economies but also morphs into border issue as well. do you see same sort of intensity, build walls, sort of scenario in europe we're seeing in this country? >> well i think this is less about the immigration control although it is certainly an

issue than it is about self-government. every time that the people of one country in europe after another have a chance to have a referendum, they come very close to rejecting the concept of a your european union. in fact, sometimes they have rejected new treaties and path of european union bureaucrats is make them vote again until they get it right. so i think if you look, even if you look at markets, obviously they're down again today, they were down more on continental stock markets friday and so far today last time i looked than they are in britain. what is really threatened today is the european union as a whole. charles: there is absolutely no doubt. footsie opened down 9%. closed down a little bit more than 3%. even having said that, eu, if they start to dissent great even more than they are now, sir, that doesn't bode well for anyone? >> i think it does. i think it does. the european union has made its

member-states less than the whole. the whole is less than sum of its parts. nobody is talking about ending trade or movement of capitol or people. what they're talking about getting rid of gross super structure of european governance that just covered the continent by excessive regulation by opaque, distant, unaccountable bureaucracy. if you go back to the beginning of european union, it was sold as free trade area, if it just stayed at that, it would have done a good thing. that has never been the objective of the founders. charles: one thing about big government, it stays hungry and only gets bigger. ambassador bolton, thank you very much, really appreciate it. >> thank you. charles: guys, quick news item, new york city landmark, waldorf astoria hotel will be gutted and turned into condos. >> oh. charles: that's right, liz. it is evened by a chinese insurance company. they're in final plans to shut the hotel down for three years.

as many as 3/4 of the rooms will be turned into private apartments. now to sports, big headline, one of them this morning. lionel messi, missing a penalty kick. so much so after the match he says he is done with international competition. let's check on apple. down fractionally. big check stocks -- they bounce very quickly. we'll discuss that and many other things later. also, listen to preet bharara the u.s. attorney for southern district of new york. he says wall street is rife with corruption and fraud and system is rigged and the system is rigged against the little guy. okay, thought we were going to listen there. president obama taking heat for lecturing british voters, some heat, a lot of heat, ahead of the "brexit" vote.

should our leaders get involved in politics outside of this country and if so how deeply do we wag our fingers at them? we'll discuss that next.

>> i think it is fair to say that maybe some point down the line there might be a uk-u.s.

trade agreement but it will not happen anytime soon because our focus in negotiating with a big block of the european trade agreement done and uk will be in the back of the queue. charles: that was president obama speaking about impact of uk's vote to leave the eu. louise is still here. i had to wonder, was that really in the prompter? that was so ignorant and so arrogant on his part, go to england and tell them how to vote and then threaten them. >> so rude. i mean, how would the united states like it if we said, you know all the intelligence we have in the cia? we us might just give it to russia, we'll let you know. it was incredibly rude, number one. number two we all know in britain americans do not use the word queue. they saline. so apart from insult being terrible we presume that david cameron our prime minister written an insult for his buddy barack obama to say to the

british people, that went down disasterously. the president, i'm grateful to him, he helped "brexit." people were so angry that kind of level of bad interference with our affairs helped us get out of the eu. thank you, mr. president. >> that is little disturbing especially considering president obama ripped israeli prime minister benjamin netanyahu saying please do not sign the nuclear agreement. he said don't get involved in this. this is our deal with the security council of the united nations. suddenly he jumped into the british "brexit" discussion. what do you see now? he didn't back that hrse. charles: it backfired miserably on him. there is no doubt. i think they were desperate. real quick, guys, let's check on s&p. they will be opening up here real soon. futures are down, fractionally, less than of hoof a percent. gold at two here supply. quick check on fiat chrysler, stock actually opening lower. they have big, bad, news.

there is a lot of bad stuff to talk about, maybe a silver lining. it is a huge day for your money. bloodbath on friday maybe turns around today. watch this tick by tick. we'll be right back.

>> all right.

guys, opening bell in about 15 seconds. i know they're clapping there, but i've got to tell you something, they took a shot of something before the commercial break because you see that shark week? it's shark week in the market, guys, it was shark week on friday. everyone got bit and took a hit. don't get that wrong. they tell you to clap and i love that enthusiasm, why not? we're going to open down, down 45, down 80, down 93. and pretty soon sounds like i'm auctioning off something and some people say it is an auction. tell me right now, we'll see a day when the market tries to rally and the key is whether anyone takes the bait or how much money they take the bait. there are smart people who want to pounce on this market. don't fret. right now they'll let it settle down between now and 10:00 and that's when the smart money comes in. dumb money sells at the open and smart money looks around at 10:00. we've got it covered for you, tick by tick by tick. and the dow is off 149 points, want to bring you, february

11th, the market closed down huge and this is the lows of the session. the dow, the low that day was 15,500, 660, and ten days later up 7% from that intraday low and nasdaq was up 9%, it was red, but we made a huge rebound. right now it's red here and the s&p is off 18 points. let's get a check of the nasdaq. obviously, extraordinarily volatile. 45 points. and oil pulled back not as much as the pre market. gold had a huge move and it could start to meander, take a look at the 10-year, that's where big money goes for their safe haven, yielding 10 year, 1.49. the british pound near a 31-year low. pounded, pun intended. no funny stuff here, guys. they're getting hammered. bar clays, down 21%.

and royal bank of scotland down 13%. hsbc, and more british stocks, drug maker glaxo, there's diageo, bp billiton and british petroleum and british american tobacco. down huge. and we want to look at gold miners, not the metals, but the miners, newmont, goldcorp, eagle, rand gold, all up higher. all right, let's bring in liz claman along with scott shellady, keith fitz-gerald and nicole petallides at the new york stock exchange. you know what? despite the fact that we were down a lot, guys, it was orderly on friday. and they found the place on the bottom and it kind of-- scott, is that a good sign or a bad sign or is it just, you know, am i just kind of, you

know, grasping for straws here? >> i mean, it's a little bit of that. ultimately, at the end of the day, 2 1/2, 31/2% decline in an ordinary market than this early one, but we could see some capitulation and that's what we haven't seen anybody panic. i have to say for the last how many years because of the manufacturing central bank action around the globe, we've pushed a lot of people that shouldn't be in the equity markets on that reach for return and yearn for yield. it's places they shouldn't be. so i think a lot of this move, a lot of those people bailing out early. >> you know, keith fitz, ka pilllation is a magical word on wall street. everyone throws in the towel. i'm not sure if we saw them for a while. to me it's a series of sessions. do you see the session that breaks the camel's back, a thousand point swoon kind of thing? >> that's an important point because there are two groups of traders today.

the big institutional blocks and the average retail investor. what you see is capitulation in the traditional retail sense of the term. we haven't seen it on the institutional side. that's a quantitative gain and a lot of buying because it's offset by hedging, all of this volatility is not a bad thing. to scott's point it had been rather to your point as well. >> i want to check on the big board. 2 trillion selloff. the largest amount we've lost in one day on the markets. some people say it could have worse. let me point out, margin calls, people who got excited about the most recent rally, they borrowed money to buy stock and those margin calls are coming in on an international level. what did you see earlier this morning, folks, in case you missed it, we have some foreign banks, british banks, barclays, royal bank of scotland had to be halted because they were dropping dramatically. and once that starts.

that radiates across the pond and we have to watch moment by moment like on the floor of the new york stock exchange on friday, maybe there might be bargain hunters, folks, they did not materialize, they're not ready yet even on a big institutional level. charles: although summer friday is sketchy to begin with. >> the volume was big. charles: it was big. and i want to look at the tech names, speaking of volatility and big volume. apple down not too bad. they're giving up ground and so is facebook, all of them decent losses, netflix is maybe breaking down a little bit. you know, for the most part, keith. they look like they could be stabilizing, you know, we've had false alarms with them before. would you be a buyer of any of them right now? >> absolutely. i'd recommend that. here is the thing, if you're an investor and you've got a long-term perspective. even if you're early to the party. chances are you'll have a great time. all of them are solid companies, they've got pricing

and that's not a lot of what you can say for a lot of other companies. why they're attracting capital. the guys on the floor, an upbeat move and we're breaking down early here. any of them starting to get nervous? >> i don't think they're getting nervous yet. to your point, they, just like you said, when you have a comeback from a low. seven days later you could have a big pop. so they watch carefully to see the action. i mean, big picture here, we saw gold close at the highest level since 2014. you see everybody running to treasuries right now. 1.48%. we are going to blow through some of the stocks in particular, looking at techs, looking at autos. gold, 1329 a troy ounce and we're also watching some of the other names, some automakers, for example, ford who had the exposure to the united kingdom. it's selling across the board and you saw the dow 30, they're in the red and tech names that you just showed. netflix, you liked it before, maybe you'd love it now. rbc, for example, came out this

morning and said, you know what? we see price line and netflix and expedia as buying opportunities now because they sold off so much. there's the airlines. don't forget the exposure that some of the airlines have, delta, for example, would be one. they do so much business abroad in europe and the united kingdom and that could move on as well. that's what we're watching. ryanair down 13%. great to see you and liz on the floor on friday. charles: it was great to be there. and you're down there, things must be bad. it's interesting, and maybe it actually helped travel and tourism, so it's interesting that the airlines, particularly ryanair is hammered to that degree. want to talk about currency for a moment. china devalued the currency, most of ten months and keith, you're our asia watcher, what do you say about this? the latest move on china?

>> classic chinese move. they are going to take the opportunity for everything it's worth. if they devalue their yuan, it improves their manufacturing base. they view it as a global market. the brexit is a minor bump and they're going to capitalize on it. charles: the strong dollar is capitalizing the stock market. the china moving down and the dollar moving, and helps them a lot. >> that's another reason you have to worry about the globe as a whole. i still say this, we've got a european problem. it's not a brexit problem. if you want to leave a club of 28 people and vote yourself out, but the threat is you can't leave because you're going to cause global calamity? maybe the risk assets are priced wrongly and brexit says okay, but right now it's conjecture, at the end of the day, if you want your sovereignty back, what's wrong with that? >> we haven't seen this outrage since shaq left cleveland the

first time. let me ask you about this, the pound sterling, and it's interesting, the only time it spikes up is through calamity like this. whether they needed the imf loan, the intervention, and the dollars when they left the exchange rate mechanism. it's interesting how that works, but do you want the bound to go much lower? i know it helps with the exports. do you want it to go lower than it is right now? >> i also don't think it will go much lower than it is right now. this is great for us. i mean, a competitive pound helps exports exactly like you heard. one of the problems with the stock, the dollar is strong. and it's a safety currency and global reserve safety currency. with the pound, we've seen this move before in britain. when we came out. there was a boost in our economic growth and we're going to see it again this time. >> and recession, you know, it's interesting, because

goldman sachs makes a call now on the u.k., that they're going to go into recession in early 2017, does that have a ripple effect to the other continents? right here and-- >> goldman sachs, a recession, says u.k. recession next year. >> well, goldman sachs called recession. >> and they've been wrong, and a look at 10-year. traders thinking the rate hike is off the table this year. thehere's a chance of a rate cu, liz. that's according to some. the idea that there could be a rate cut when a month ago it was all about when will it be the next hike? >> they're already talking australia overnight about cutting rates. what they were trying to extricate themselves and get themselves out of the abyss. maybe you start to see a lot of other nations not just holding their fire, but cutting their

rates and could that be us as well? now what? are you kidding me? held hostage because 28 or 27 other nations simply couldn't get their act together. >> exactly. >> why must we be so entrenched globally. i prefer not to call it an isolationist move, perhaps, i'm not sayings it's the right move. that's going to play out. we don't have to worry about some oh, maybe had we exited. the u.k. decided we will see what's going to happen. >> and keith, i wanted to ask you about that. the notion now is that rates are back in play and certainly the fed's going to remain accommodative. in the past, that looked at the market. are we really seeing between the reaction in our market, down at the lows of the day. now, 225, being down 600 friday and the yen at strong levels, despite negative rates and yields in japan. that central banks around the

world don't matter, that they don't have impact that they used to? >> well, i tell you, that's a very interesting points and my assertion. i think that central banks for a large part are irrelevant in today's economy. the regulators that are saying the games are rigged, according to what i heard earlier on the show. wall street, yeah, they're playing the game using the rules provided so if you look at this, yeah, central banks are absolutely irrelevant, they lost control a long time ago and they have nothing to do with this. charles: scott, what's your thoughts? >> yep, 100% agree with keith. we don't have a monetary problem or an interest rate problem, we've got a fiscal rate problem. and the central banks and have to answer to those folks, we've done all we can do and now it's your turn. there's nothing to help us out soon. mark my words, we don't have an interest rate problem.

>> ben bernanke used to say exactly that. it wasn't a monetary problem. the federal market committee, that it was a fiscal problem and goes right back to washington and all of the regulation and overregulation, and that's where it stems from. >> no doubt about it, guys, of course, the fed, they've been concerned that fiscal policies never been in step with their monetary efforts. the so-called sheriff of wall street says that people are right about wall street being rigged. roll tape. >> i think to an extent people are right about the system being rigged. this office has been as aggressive as any other in the past years to try to make the system fair for everybody. and make sure that everyone plays by the same rules. i think that people have a right to be given the track record of this office and other offices of exposing fraud to be worried about that. charles: all right, liz. liz: he's done a lot of cases

and some of starting to be reversed, and along with the collins, which no longer exists. there appears to be an unlevel field. you do bottoms up research, even the average investor who tries to do that can't beat the fast money on wall street. way back in the day my dad used to say, we have to wait till the l.a. times arrives at the doorstep, but the fast guys on wall street got-- >> they're trading faster than then. scott, go ahead. >> yeah, well, i think they suffer from a reputation problem. i mean, it is still a place to find and discovery prices, that's what we're here for. at the end of the day, technology, what it's doing, we've gone back to the wild, wild west and the technological rates than that's where things get out of sync, as long as

it's the technological race, we've got a problem. >> i think it's a case of regulators call the kettle black, they're trying to create the appearance, but this is stirring up stuff that should have been there 20 years ago. they are as much at fault. charles: and although i hate the computers, i wish-- they're not illegal, but wish they would go away. thanks to you. and i want to check the big boards, dow off 233 points, 850 total for the las two sessions and we just got started. knowing big weekend for disney finding dory, nicole? >> all 30 dow components. maybe if it was a different trading day, we'd see an up arrow for disney. 94.51. finding dory has an incredible showing in the box office, what it's telling everyone in this area is that the people want to go to the movies and they're willing to pay for it, too. but they're very selective in

their ticket buying. dory has blown it out of the water. more than four new movies were released this weekend and beat them all combined and closed 286 million, and 369 worldwide. and it's the people ab it's doing incredible. one that didn't do great was independence day. sequels can be hot, but this wasn't it. charles: they probably should have paid to get will smith in the sequel. we're up from the low. now 218 points, want to bring in market watcher and former fed official, danielle dimartino booth. you say the markets will correct. you think we'll go further down from here, danielle? >> charles, i think the markets have been looking for a reason to correct for a lock r long time now. when you consider that the dow is down only 4% over the last

year. there really is a lot of hysteria, i think, out there that's overblown, but again, i think that brexit provided markets an excuse, the excuse they've been looking for for some time to correct and to go back to one of your-- what one of your guests was saying earlier. we're now seeing the ramifications of the loss of confidence in central bankers. one thing we do note. selling begets selling and we could be the next to have their hair on fire. could it get ugly in your mind, with everyone bolting out the doors, hey, the fed cannot come to the rescue, whether they want to or not. it's going to get a lot more ugly than it is right now. >> i think the potential is there for there to be a true correction in the markets, for there to be a 10% down leg and we're obviously just a short way to that, to that point. and to what some of the guests have been saying earlier today. the markets have begun to price in the next fed move as being a

rates cut. i think that people are smelling that the economy here is weaker than sized. it's goldman sachs can call for a u.k. recession all it wants, but i think the next calls we're seeing, the economy has been weakening for some time regardless what's happening across the pond, charles. >> you spend time in the meetings, what do you think is going on on the other side of the fed right now? what do you think they're saying to themselves and each other about their inability to influence markets at this point? >> right now they're counting contingencies, charles. is it going to be a brexit, what happens if the euro experiment begins to unravel and that will be game over for all central bankers, because they've been trying to coordinate efforts. >> they may have 27 more counterparts. [laughter] >> and they might, but right now, i think the fed is talking

about what else they can start to buy in the market. will it be corporate bonds or other securities. >> i want to bring liz claman on this. >> i want to quickly say you talk about brexit. start ordering your t-shirts, but look, you've got to take a deep breath. let's not get hysterical here. i liken this to the bridge, they open one lane, the traffic starts to move and two lanes, maybe that will point out in the next couple of days. >> and these are a common curren currency, but did. >> i never know, and we've got judge andrew napolitano on sovereignty, and the right to

secede. it's a right of all people. one story is dealing with abortion, one is dealing with political corruption. ♪ ♪ i say change will do you do ♪ ♪ change will do you good ♪ you both have a

perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at

see car insurance in a whole new light. liberty mutual insurance. >> there you have it, all the stocks all are in the red. federal reserve chairman janet yellen will not attend the central bank meeting. she's returning to washington instead. we'll look further to that. we'll look at charles schwab. they cut the shares 6%. the british votes to leave the eu and in a sense was succession from the u.s., many say. judge andrew napolitano is here and you say that this whole thing, secede or succession, it's a natural right. >> well, the first statute enacted by the congress is the declaration of independence, the law of the land. the declaration of independence

calls for the right to secede as long as there's a common bond and geography. picking up on that, when texas joined the union and vermont joined the union, each was an independent country, they reserved the right to succeed by an act of legislature, the act is on the floor of texas legislature all the time. i haven't heard vermont. but thinking our dear friend stuart would be here to taunt him about the u.k. seceding from the u.s., my argument is that one of the main forces behind the eu was the intelligence community. the intelligence community wanted the immediate rapid sharing of intelligence and they wanted a financial powerhouse to rebuff russia. didn't care about migration. they wanted money together and they wanted intelligence. what intelligence service led this? the cia.

so you could argue the cia was the principal i mpetus for the eu and the u.k. seceded from the u.s. dominated eu just as we seceded from them 240 years ago. charles: now they have their independence day, right? >> so my argument is, don't be surprised if you see the concept of succession even here and-- >> we saw this a few years ago and picked up steam, there was pacific west and detailed plans. of course, texas has been talking about it for a long time. could it happen? >> texas actually enacted a statute which the congress accepted, which permits texas to divide into five separate states, each with two senators and with the requisite number of representatives and-- >> california is is going to split up, too.

>> california did not engage in that. charles: there's talk of it. texas number one and california number two, two states that want to leave. >> yes, all of that. charles: we'll have you back. we've got major rulings expected from the supreme court. one is a challenge to an abortion law in texas and another is a case that will decide whether or not the former governor of virginia will go to jail. and a mayor in france wants to move an infamous refugee camp to britain so the u.k. can understand the consequences of their decision to leave the eu. the second hour of "varney & company" begins in two minutes.

>> new this hour, we're standing by for breaking news from the supreme court. several major decisions are expected, including one on abortion. also this hour, british prime minister david cameron will address parliament. how long will he stay in office? that, of course, will determine how long it actually takes for

the u.k. to officially leave the european union. and hillary clinton will be with elizabeth warren, the first campaign appearance together. it's going to be a doozy. and remember, two trillion dollars wiped off the market on friday, the biggest one-day loss in the history of the market. in the meantime, british banks, if you think we're worried over here, the british banks stocks, got to be worried, barclays, the royal bank of scotland, hsbc. our banks haven't gone unsaved, goldman sachs, j.p. morgan, and others getting hammered. it's not as much, apple, facebook, netflix, and google. check the price of gold, it's at a two-year high up again today. and then there's the british pound, it's gone in the opposite direction at a 31-year low and some say that can help

england in their tried. first, guys, let's set the table for the supreme court. the news is expected to break in this hour, cheryl casone, what do you have for us? what are you looking for, particularly? >> there are three opinions first, and it's controversial, high profile case, is the abortion case, this is whole woman's health, this is the constitutionality of a texas law that requires all abortion clinics in the state of texas to be ambulatory surgical centers. what does it mean? they have to have a jun upgrade facilities and any doctor would have to have privilege at a nearby hospital. and they say that this is a way for texas to not give women in texas access to abortion. this is the most high profile. there's two more. there's mcdonald's versus the u.s. and there's a corruption case

against the former governor of virginia, and another case, lesser of the three by the way we're going to be looking for, this is basically prove of recklessness with regard to a firearm. can you prosecutor under a federal law prohibiting a firearm for previously convictions of domestic violence. this is a case of a domestic violence and firearm as well. >> i want to check the market. 233 is the lows that i remember seeing. we're down 207 right now. the question though we're asking, are we looking at stability today or volatility. let' bring in steve cortez. we're starting to break down here. what i was looking at did not hold so far. and we could reverse all the way, but what do you see for the markets? any stability at all today, tomorrow? >> charles. >> unfortunately, i wish i could be a voice of cheer. but the fact that we're

starting off monday this poorly after a horrendous trade on friday, i think, it portends for more volatility, more trouble ahead. when you look at the global situation, i think there's a good chance that we're headed into a global and syncronous recession and i think that the market needs to price that in. u.s. stocks have traded at a massive premium and i think we're the strongest economy in a weak world, i don't know na we deserve the kind of premium at that we've attracted so far, so i think it's a time to be very, very cautious. >> would it be wise to stick with u.s. stocks, even if they all go down, shouldn't we go down the least amount if we have the best economy? >> that's true, but most individuals who are watching us are not fund managers and have choices to invest globally. but, yes, to your point, i like more domestic oriented companies. and domesticity and dividends, the two d's. what's the domestic business, utilities?

it's boring, it's not sexy, probably what your grandma would have done with the stock market. grandma is right and she's right investing in this case. if the u.s. looks better. i would stay away from the largest multinational who do the preponderance of their business overseas. and you say that because you can call the utilities the only widows and orphans left. and the question of the dollar, you know, the shifting opinions now, perhaps the fed may be looking at a rate cut instead of a rate hike as their next move. can that bring some relief to this pullback? >> you know, it could. look, and the central bank, we saw it in february. the fed hiked rates in december. in january, global markets went into a freefall and janet yellen came in and saved the

stock market by saying we're going to be incredibly caution, and they have been. can she do it again? i suspect she's running out of ace cards. she played one and does she have three left? i think maybe she has one or two so she better be careful. i think that rate hikes are off the table. it's not an interest rate problem. we have stay below interest rates for years. the real problem, i think, the reason we're not growing better. but it's because of washington d.c. it's regulation and taxes and we need relief from both and the american economy can grow that's worthy in a nation as great as america. >> we've got to get away from business things like overtime pay and cage. and you mentioned that janet yellen was able to jaw bone the market into stability. and now a couple of months laying out the rate hike.

i would say the fed is on thin ice in the form of any credibility. and flip-flopping. they're on a razor's edge with the credibility that they have left, no? >> i think you're right. i don't think she has any more ace cards to play at that save the market because her credibility and the credibility of the fed overall is dubious at best. he think we need to remember, often, i think we in the financial markets and out there in the public, we want to believe there's a council of wise men and women able to centrally plan our economy. most of the folks in the fed have never worked in real business and never lent at the bank and paid the payroll. charles: i've got to let you go, one of our big breaking supreme court decisions is out. cheryl, you've got the ruling on the texas abortion case. >> the u.s. supreme court thrown out, sided on the side

of the clinics in this one. the clinic says that what the texas-- the state of texas was doing was unconstitutional. they were denying abortions to women, they should have been more available. this has been control. what you're seeing on the live picture, you've got protesters from both sides of this very emotional issue. this is a win for texas abortion clinics. a loss for the state of texas and the law put in place. charles: tammy, i think reading about the philadelphia clinic, the notorious doctor, how filthy it was, you know, how they had a little better service upstairs for certain people, but it was just like a puppy mill, like a-- it was so nasty, you know, if you're going to have abortion clinics, shouldn't there be standards, and near a hospital and in case a woman had as an emergency? >> even the grand jury that dealt with it said in their report, this is about standards of care, it's not about

eliminating abortion. >> and the texas law that has been overturned. you need to have access to a hospital and treating privileges of a hospital within a 30 mile zone and able to be accepted there. this is really about treatment of women if there was a problem. the ability, look, like any outpatient clinic. it was raising the rates of the it abortion clinics it match what you would have in any other outpatient clinic, but it also banned the abortion pill and it did a couple of other things, when you've got a majority at the supreme court, this won't be the end of the argument. >> it won't be. i want to bring in pastor robert jeffers. pastor, you know, i know that, i want to let folks know, air -- you're the pastor at first dallas, your initial reaction? >> three years ago i stood on the steps of the capitol urging

for the passing of the bill and think it's a sad day not only for the state of texas, but for women. all this bill did was ask that abortion providers have at least the same standards. i think this shows the hypocrisy of planned parenthood. they care nothing about women's pelt health. they care about profit. they could have made these up-to-date. >> this ruling that i think underscores the importance of who wins in november, probably more so than any other normal election. i'm not sure the las setting president would have a chance to nominate up to three supreme court justices. is there a chance to-- i don't know if you can politically throw it out there.

a lot of people feel strongly about this, a central issue who should be voted into the white house. >> i think so, charles. look, this cuts through the so-called conservative dilemma about donald trump. i hear people say, well, i don't like his language, i don't like his tone and i ask conservative christians, are you willing to allow hillary clinton to make the next five appointments to the supreme court because you don't like trump's language or tone? look, there is no other choice for conservatives other than donald trump if for so other reason than the supreme court appointments and he's released the 11 judges he would pick from from the supreme court. that's never been done before by any conservative president. charles: we'll get more details, and-- >> i want today give you the ruling count. it was 5-3 ruling, that the justices delivered. now, i don't have the names of who voted way way yet, but i have the five 5-3 ruling. there is not a nine justice

court. judge scalia who passed away earlier this year, he normally was against abortion. charles: we could have assumed it would have been 5-4, but would have gone against texas laws. >> yeah, in the political arguments here, this is going to come up in the sense of women's lives and who deserves to have better treatment. as you were mentioning, the worst treatment of women of color and as a feminist, i want them to make choices and make decent care. and the case proved that the government seems to look away on the issue of abortion and it's the 21st century and we deserve care. and this is going to be a political argument as we move forward. >> it's a sad irony, regulations for everything for lemonade stands and now, all of a sudden, they don't wan regulations when it comes to women's health and yes, i know that the trump camp isn't happy

with the polls. but overall, almost throughout the last couple of months, he hasn't done well with women. how does he articulate this message? because hillary clinton is going to say today this was a victory for women. >> well, again, i think you point out the hypocrisy that you pointed out about regulation. about the polls, remember, these are national polls that were released the last couple of days. in other polls, in state by state contests and tossup states, it's a tossup election between the two and i got to spend time with mr. trump and the campaign last week in new york. i can tell you that paul is-- i think you'll see these move over to mr. trump in the coming weeks. charles: what we've been seeing, in my mind it reflects an unhappy world and i think that it's starting to play out in a political process, but people are looking for authentic answers and i think this time around, it really,

really is incumbent on whoever is ultimately elected to push or spark something in all of us. the way that donald trump was moving that way. he incorporated different segments of demographics. again, make america great and that means everyone in the country. >> yeah, i do, and i think that brexit bodes well for that. brexit was not a generalized feeling about the establishment. it was about securing borders and citizens tired of them putting global concerns over national concerns. and you see that, americans are more and more are interested in singing my country 'tis of thee, rather than "we are the world." i think that will work in trump's favor. charles: thank you. >> thanks, charles. >> the dow is off 233 points.

we're drifting lower and lower and no buyers materialize yet. the price of oil is down 2% after falling under $50 last week. got to take a look at some of the big british names. royal bank of scotland. bpp. bhp billiton, ryanair, glaxo, under significant pressure, particularly royal bank of scotland. look at that, down 15%, less than $5 a share, this reminds me of when a bank is rolling out. that stock reflects that. >> some say that the bank selloff is a little overblown particularly for u.s. names. if you look at wells fargo and citigroup, who don't have much exposure to the european banking sector, at some point, charles payne is going to go in there and do some bargain unt hadding. >> the one thing i haven't touched were the banks. i've traded, but i don't know what's in them. i don't know what they own.

let's talk about donald trump. he continues his attack on hillary clinton and continued even while he was in scotland. >> she should go on camera and she is 100% wrong. and she doesn't want to go on camera because she's embarrassed. charles: brian york from the washington examiner is with us. the brexit decision, the vote outcome seen by everyone as a victory to donald trump. to what degree, now he's pounding hillary clinton on it. >> we are going to have to see how it works out. trump is saying, i was right, she was wrong. and he tweeted about it an hour or so ago. it depends how it works out. she, hillary clinton has tried to fit donald trump's support of brexit to the case that he is he unfit for the presidency and unstable to be president of

the united states. >> and many of the major players are running on sheer emotion. when things calm down we'll know better whether it could be a benefit, a talking point for donald trump or something that-- >> when it fills out, we don't know, it's a tro year process. if the markets continue to go down. who knows. it could be dicey, but i think the only thing she's able to jump on, was sort of that the pound was getting hit and it's good for him, saying, this is a guy anything only aut himself and his pockets. >> well, a lot of the press was looking at trump went over to tout the new opening of his golf course or new hotel on the-- and he was touting these trump properties. if you looked at the press

conference, he talked 20 minutes about the golf course. and the press was jumping about it, can we talk about brexit which he did. but it's difficult for a number of outsiders iset their heads around a trump candidacy, that he can go to a golf course and then talk politics. >> although donald trump said it was there to support his kids. it was foreign for them and might look at relevance. and the golf course, you can invite me, too. >> okay. charles: having said that though, we know that the mainstream media played up that port for hillary. that was the only thing i saw, the only angle. and one more, that brexit was a racist fueled thing over there and donald trump-- we've seen a huge amount of

commentary that attributed brexit almost entirely to xenophobia. we have to be careful who is let into this country. there should be a barrier on the southern border where people are crossing illegally. there are some people who are never ever going to be convinced, but it's a rational argument. >> tammy and by ron both. this week alex talked about this, voters reject, elitism, right? and then michael eric dyson stepped in and said elitism is a red herring. that donald trump amplifies the worst instincts and his nati nation-- >> there's been made so much and people don't hear it more. the polls were so wrong on

brexit because of the argument people were so bullied, and made to feel ashamed show that this is part of why the vote so strongly to leave. people are sick and tired of accused of being something and being bullied. at the same time this is happening now. this is of all the left hand. they can't argue on the merits pause because socialism fails. you do it the way england did it or venezuela with the collapse. the accusations and bullying, the american people will reject it just as they did. >> every politician needs to look at that, are you in touch with the people in your district and state? >> andind that in ivory towers. thank you very much as well. thank you, charles. charles: footage of a plane on

fire. it's a singapore airlines plane. and it turns back after two hours in the air. a plane burst into flames, shocked passengers, not so shocked that they quit taking videos, but they were shocked. a rightening thing. broadway raising money to see hamilton for hillary. going for as much as $100,000. cha-ching. you both have a

perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness,

liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. >> thar she blows. the dow down near the lows of the session. it's orderly just like friday, but no sign that any buyers have emerged yet. take a look at several stocks, including carnival crews line and susquahanna cut the price target on the stock.

let's take a look at google. reportedly releasing the smart phone this year. i'm not sure that's moving the stock although it's down 1 percentage point. now we're about to see hillary clinton and elizabeth warren, look at that, making a campaign stop in cincinnati and donald trump tweeting about this. crooked hillary is wheeling out one of the least productive senato senators, goofy elizabeth warren who lied on heritage. a lot of people are saying she's very, very high on the vp list maybe bringing in bernie sanders supporters. from the hottest ticket in town, we're talking about hamilton making a special performance in july. and these tickets from 2700 to $100,000. >> talk about the 1%. these are people talking about how there's two americas and income disparity and this is a

real appeal to individuals who are effectively out of touch with what's happening to regular americans around the world and here at home, everybody-- and the world is clearly upset with the status quo and the bureaucracy. anybody could make money for anyone who wants. it's interesting that manuel is leaving the production and something that the american people will note as middle america comes to new york, if they have any money to visit the city, that this is perhaps this is something to reject. >> this is bad for hillary clinton. she needs to have a discussion with her fund raising teams and the impression it's giving. if you're saying you're not part of the political elites. and britain didn't do so well on friday, you can't be doing things like this anymore. if you're going to be with the people, go for smaller donations. >> it's all rhetoric, that they don't really own it, that they're saying what they need

to say as hillary does all the time to get what she wants and just like president obama, absolutely fixated on hollywood, on celebrities, and broadway, it's a ridiculous position, exactly the kind of status quo that-- >> if you have $100,000 and go to the wrap party. hillary will be at the wrap party and you will be a special guest of hers and if you have a $1 is00,000, we've got a matinee for you. british prime minister david cameron about to address an anxious parliament for the first time since announcing he's going to step down. in the meantime, the pound is in freefall. and there's just all kinds of talk about now recession, meanwhile, china is using the distraction, manipulating its own currency and lowered the yuan today. let's face it, china making these moves could be a bigger threat to chinese companies. and judge napolitano, and more

on the supreme court decisions, stay right there.

..

charles: well, you knew it was going to happen, hillary clinton tweeting about the supreme court striking down the texas abortion law writing, quote: scotus' decision is a victory for women in texas and across america. safe abortion should be a right not just on paper or, but in reality. in the meantime, we're still awaiting british prime minister david cameron, he's about to address parliament. we'll take you there, we want to hear what he has to say. let's go to london right now, because we're expecting to hear from the prime minister at any moment. ashley, you're there. what do you think we're going to hear? >> reporter: well, you know what? no one can predict anything these days, certainly in the u.k. but i would say he's probably going to call for unity. this is a country deeply

divided, okay? 53% voted to get -- 52% voted to get out of the union, so he's going to call for unity and a smooth transition, i believe, between being in the e.u. to being out of the e.u. he's been under a lot of pressure, david cameron, to actually stay on through the actual agreements on the trade and everything else that will get the u.k. out, but he said last friday in sort of a tearful speech outside of 10 downing street, hey, i'm down. a new leader should come in and handle this process. so i don't think we're going to get anything else but a call for unity, charles, to be honest with you. charles: well, ashley, on the other end, of course, boris johnson's been taking a victory lap, and now he's been called, many saying he could be the next prime minister. any word about that? >> reporter: he could, and boris has some strong support within the conservative party. but as one mp pointed out, yes, he's the life and soul of the

party, but would you want him driving you home? [laughter] he's got that kind of reputation whereas maybe someone like a teresa may, the current home secretary or even george osborne who campaigned to stay in the e.u. may be a dark horse candidate. maybe he'll decide he's going to make a run for it, and he would be a more, i guess, established politician, but it'd be a whole lot more fun if boris ran, that's for sure. charles: thank you very much, ashley. let's go to david cameron. >> reporter: sure, charles. >> from england, scotland, wales, northern ireland and gibraltar all having our say, we should be proud of our parliamentary democracy, but it is right when we consider questions of this mag knew tuesday we -- magnitude, we listen directly to the people. and that is why members across this house voted for a referendum by a margin of almost 6 to 1. let me welcome the new member to

her place. i think i'd advise her to keep her phone on. she might be in the shadow cabinet by the end of the day. [laughter] >> and i thought i was having a bad day. [laughter] mr. speaker, let me set out for the house what this vote means, the steps we're taking immediately to stabilize the u.k. economy, the preparatory work for negotiation to leave the e.u., our plans for fully engaging the devolved administrations and the next steps at tomorrow's european council. mr. speaker, the british people have voted to leave the european union. it was not the result i wanted, nor the outcome that i believe is best percent country i love, but there can be no doubt about the results. of course, i don't take back what i said about the risks. it is going to be difficult. we've already seen there are

going to be adjustments within our economy. complex constitutional issues -- [inaudible] and challenging new negotiation to undertake with europe. but i am clear and the cabinet agreed this morning that the decision must be accepted, and the process of implementing the decision in the best possible way must now begin. at the same time, mr. speaker, we have a fundamental responsibility to bring our country together. in the past few days, we've seen despicable gras fifty on a polish community certain, verbal abuse hurled against members. these people have came here and made a wonderful contribution to our country. we will not stand for hate crime or these kinds of attacks, they must be stamped out. mr. speaker, we can reassure your peen citizens living -- european citizens living here and brits in european countries there'll be no immediate changes in their circumstances. neither will there be any initial change in the way our people can travel, in the way

our goods can move or the way our services can be sold. the deal we negotiated at the european council in february will now be discarded, and a new negotiation to leave the e.u. will begin under a new prime minister. turning to our economy, it's clear that markets are volatile. there are some companies considering their investments, and we know this is going to be far from plain sailing. however, we should take confidence from the fact that britain is ready to confront what the future holds for us from a position of strength. as a result of our long-term plan, we have today one of the strongest major advanced economies in the world. we are, we're well placed to face the challenges ahead. we have low, stable inflation. the employment rate remains the highest it's ever been. the budget deficit is down from 31% of national -- 11% of national income. the financial system is also substantially more resilient

than it was six years ago. with capital requirements for the largest banks now ten times higher than before the banking crisis. the markets may not have been expecting the referendum result, but as the chancellor set out this morning, the treasury, the bank of england and our other financial authorities have spent the last few months putting in place robust contingency plans. as the governor of the bank of england said on friday, the banks' stress tests have shown that u.k. institutions have enough capital and liquidity reserves to withstand a scenario more severe than the country currently faces. and the bank can make available 250 billion of additional funds if it needs to support banks and markets. in the coming days, the treasury, the bank of england will continue to be in close contact. they have contingency plans in place to maintain financial stability, and they will not hesitate to take further measures if required. turning to preparations for negotiating our exit from the e.u., the cabinet met morning and agreed the creation of a new

e.u. unit in whitehall, this will bring together officials and policy expertise from across the cabinet office, treasury, foreign office and business departments. clearly, this will be the most complex and most important task that the british civil service has undertaken in decades. so the new unit will sit at the heart of government and be led and staffed by the best and brightest from across our civil service. it will report to the whole cabinet on delivering the outcome of the referendum, advising on transitional issues and exploring objectively options for our future relationship with europe and the rest of the world from outside the e.u. and it'll be responsible for insuring that the new prime minister has the best possible advice from the moment of their arrival. mr. speaker, i know that colleagues on all sides of the house will want to contribute to how we prepare and execute the new negotiation to leave the e.u., and my right honorable friend, the chancellor of the dutch of lancaster, will listen to all views and make sure they are pulley put into this exercise.

he will be playing no part in the leadership election. turning to the devolved administrations, we must insure that the interests of all parts are protected and advanced. as we prepare for a new negotiation, we will fully involve the scottish, well with, and northern ireland -- rell, and northern ireland governments, all regional sources of power. i've spoken to the ministers of scotland and wales as well as the deputy first minister in northern ireland, and our officials will be working intensively to bring our devolved administrations into the process for determining the decisions that need to be taken. mr. speaker, while all of the key decisions will have to wait for the arrival of the new prime minister, there is a lot of work that can be started now. for instance, the british and irish governments begin meeting this week to work through the challenges relating to the common border area. mr. speaker, tomorrow i'll attend the european council n.

the last few days, i've spoken to chancellor merkel, president hollande and a number of european leaders. we've discussed the need to prepare for the negotiations, and in particular the fact that the british government will not be triggering article l at this stage. before we do that, we need to determine the kind of relationship we want with the e.u., and it is rightly something for the next prime minister and their cabinet to decide. i've also made this point to the presidents of the european council and the european commission, and i'll make this clear again at the european council tomorrow. mr. speaker, this is our sovereign decision, and it will be for britain and britain alone to take. tomorrow is also an opportunity to make this point: britain is leaving the european union, but we must not turn our back on europe or on the rest of the world. the nature of the relationship we secure with the e.u. will be determined by the next government, but i think everyone is agreed that we will want the strongest possible economic links with our european neighbors as well as with our close friends in north america, the commonwealth and important

partners like india and china. i'm also sure that whatever the precise nature of our future relationship, we will want to continue with a great deal of our extensive security cooperation and to do all we can to influence decisions that will affect the prosperity and safety of our people here at home. mr. speaker, this negotiation will require strong, determined and committed leadership, and as i've said, i think the country requires a new prime minister and cabinet to take it in this direction. this is not a decision i've taken lightly, but i'm absolutely con -- convinced it is in the national interest. i am first to praise our incredible strengths as a country. as we proceed with implementing this decision and facing the challenges that it will undoubtedly bring, i believe we should hold fast to a vision of britain that wants to be respected abroad, tolerant at home, engaged in the world and working with our international partners to advance the prosperity and security of our nation for generations to come. i have fought for these things

every day of my political life, i will continue to do so, and i commend this statement to the house. [cheers and applause] >> the opposition, jeremy corbin. >> thank you. thank you, mr. speaker. firstly, i would like to thank the british -- charles: of course, we just heard from david cameron, classic british politics there. i thought he did a very good job, in fact. he was humble, he accepted defeat, and he laid out a couple things, a, how strong europe is, well, england is right now, but also the need in his mind to have a quick transition, that a new prime minister should be in place. he talked about the financial markets, and he tried to instill some confidence. now, we were off 300 points, as he began to speak, we were off 250, we're sort of in the middle right now, but the idea is there's a lot of money in place particularly by the bank of england to bring in $250 billion in funds or even a lot more.

but he went to great lengths to say banks -- which have been hit hard, we've seen these banks getting absolutely slaughtered. royal bank of scotland was down 25% on friday, as much as 20% today. barclays, there you have it, down 21% right now. that was down 24% on friday. he's saying that cap requirements are ten times stronger than they were during the last frnl crisis -- financial crisis. the stock market cautious as about it -- about it as well. he had a lot of fun, the labour party right now 19 members are out, either they were asked to leave or left on their own, six said they're staying, four not sure and, of course, it's jeremy corbin who's at the head, polls say if he leaves right now, their stock would go up at least 12%. i want to bring in the panel now. tammy, he talked about, he warned about hate crimes, you know, must be stamped out. he also said he wants england or great britain as respected, tolerant and engaged. >> yeah, sure.

look, i wish u.s. politicians would resign when they fail. that would be fabulous. but, look, he started out reinforcing this notion that this is about xenophobia or racism. that was his point. like, look, we've passed this, and now everybody's putting graffiti on immigrant centers and attacking other people. that was shameful. it was cynical, and it's insulting to the british people who voted to pass this. at the same time, of course, you've got a dynamic where people are still saying they want to stop it. interestingly, england is one of two major countries that doesn't have a constitution, saudi arabia and england don't have written constitutions. so what the people want in england, this is even more powerful when it comes to what the parliament does in voting, when they do pass article l. it's not just that you leave europe by sending a note to brussels which some, of course, have said is the case. parliament should be vote aring on this. and this is where some people, it's almost like a never trump issue, think that they're going to stop it. charles: do you think that really?

do you think -- [inaudible conversations] tammy's point though, it's negotiation, and that's what she -- that has to be driven can home, tammy, i think more than anything. what article l's invocked, and it won't be until october, that's a two-year process. charles: all right, guys, peter morici, the pound is at a 31-year low, stocks are getting hammered across the globe, particularly these british banks. david cameron said the capital requirements are ten times higher than they were back in the financial crisis. you couldn't tell it by the shares of royal bank of scotland or barclays. >> you have to remember that all the politicians were singing a tale of woe prior to this vote. now we have the vote, it goes the wrong way from their point of view, so investors are panicking because they came to believe the narrative. most investors were rooting against leaving. now, the reality is very much what the prime minister is now stating, is the british economy is fundamentally strong. its relationship hasn't changed,

which critical now is what a do they ask for in terms of a new association agreement. they can't go down the path of being a norway, paying a fee be every year -- a fee every greer, agreeing to require or with european regulations or then what's the sense of leaving? what is really disappointing is the fact that they didn't have a backup plan, that they weren't prepared on either side of the aisle. and as a consequence, there's this enormous leadership void, and we have to wait until november to see something happen. that's the basic problem. charles: right. >> it's not anything fundamental about their economy. as for u.s. stockses, the u.s. economy's hardly affected by this. it should be more worried about china right now than great britain. charles: peter, i want to bring in aaron elmore who's a donald trump surrogate. the brexit vote seen by many as echoing the same anxieties and frustrations of america. and, certainly, because of the position donald trump track on this before the vote and hillary and obama took, seen as a big

victory for him as well. >> absolutely. the british have spoken. they want to control their borders, their economy. this is a national movement that's anti-establishment. it is equal to what is going on in the united states right now. hillary and barack obama missed, and it's the same anti-establishment movement that we see in the united states, and we saw how it ended up in britain, and i think it's going to -- charles: so the post got it wrong? >> i don't think this is anything racial at at all. why does it have to be about race when it's about what the people want? the people have spoken. charles: peter, one more time on this. cameron used the term financial stability, i counted maybe three times, trying to hammer this home. obviously, no one wants to see panic because sometimes the worst case scenario can be self-fulfilling. what do you think turns it around, the last couple of days that we've seen with our markets, the pound and at what point does it become a free-for-all panic? >> well, i think we need to have some good news in the u.s. economy in terms of economic growth and so forth.

as i've said, i expect second quarter numbers to be very good, and as those come in, i think the u.s. market will start to improve. in terms of british banks, it's one thing for your stock to go down, it's another thing for loans not to get repaid. british banks are no less solvent today than they were a week ago. and there are no particular -- they're in no particular trouble. a lot of this investor reaction is to the notion that the financial sector's going to leave london for dublin. i find that absurd. the intellectual infrastructure that's meant in london simply can't be replicated in frankfurt. the other thing is that continental banks are not in the kind of great shape british banks are in. they're still carrying bad loans because the european central bank is impotent, and european regulators are incapable -- charles: yeah, that seems to be -- >> the very reasons why the british are leaving. charles: that seems to be the narrative right now. all right, guys, back to session

lows. david cam rorntion as he spoke, we came off a little bit, we're pulling back. hillary clinton at this very moment stepping out with elizabeth warren, look at that? frenemies, i guess, that's what we'd call them. elizabeth warren pumping up the crowd as usual. now with britain out of the e.u., france is actually threatening to end its border controls with calais. that move would allow more than 4500 refugees to cross directly into britain. lieutenant colonel is with us, the mayor saying that this is actually britain's problem, that they've set up this amazing, wonderful welfare, you know, universal health care, you know, flashing lights red carpet, and they were the gatekeepers, but why should they be the gatecoopers income -- gatekeepers anywhere? >> the e -- great way to frame this is france operates in calais are, a british immigration camp. since 2003 the french government in calais has operated a camp

with the brits to allow immigration into great britain. imagine, this would be like a customs and border protection camp in tijuana, mexico, operated by the u.s. helping migrants transition into california. it's really something unique, and it's worth noting that that's what this argument's about. charles charles we've seen some horrific scenes there, you know? the in-fighting, it's just crazy. it's really, it's like a miniature ghetto. and you wonder if france steps back and lets this run amok or turn back and say, all right, guys, go for it, what would the outcome be? >> well, it would be horrible. and, actually, the calais mayor, he's really made this commentary to kind of poke the eye of the u.k. for the brexit vote and really speak to her constituents. it's her city that absorbs the major impact from this camp. but politicians at the federal level, for example, the french foreign minister -- charles: right. >> -- don't support this camp

being done away with, moved to great britain because everyone wants to avoid the maritime humanitarian crisis that would ensue. these migrants would be getting in boats to cross the english channel, and we see what's happened in the mediterranean, how many lives have been lost there. charles: absolutely. colonel, thank you very much. dow, we're off 300 points. tammy, you wanted to -- >> well, i think just to base on the conversation about why all this is happening, it's not about racism. the main theme has been about bureaucrats in brussels unelected changing all the rules in england that they've had nothing to do with. charles: our market's down 308 points, that's the worst of the session. we'll be right back. ♪

approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't,

saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend.

remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ charles: now, despite the financial hit that we're all taking right now, ambassador john bolton says americans should be happy that britain is leaving the u.k. mr. ambassador, thanks for joining us. why should we be, you know, throwing out the confetti and the pom-poms? >> well, i think this is a very important step for britain, a good one more them and a good one for the united states in many, many respects. let me take the biggest picture of all first. this is, this vote by actual citizens is a thunder strike against the concept of global governance, the notion that more and more international

organizations, international agreements, super-national entities really will begin to take control of the planet. at the continental level, the european union is global governments brought home, and the british people have said, you know, actually, we can do without it. charles: this euro-centric movement started about, i guess, six years or so ago, really started picking up steam in places like finland, france and others, but it started to morph into other things as well, and some are saying, hey, it's one thing to say we don't want a common currency, but it also morphed into a border issue as well. do you see the same sort of intensity, build walls, sort of scenario in europe that we're seeing in this country? >> well, i think this is less about immigration control, although it's certainly an issue, than it is about self-government. you know, every time that the people of one country in europe after another have a chance to

have a referendum, they come very close to rejecting the concept of a european union. and, in fact, sometimes they have rejected new treaties. and the path of european union bureaucrats is make 'em vote again until they get it right. so i think if you look, even if you look at markets -- and, obviously, they're down again today -- they were down more on continental stock markets friday and so far today last time i looked than they are in britain. what's really threatened today is the european union as a whole. charles: right. ambassador bolton, thank you very much. really appreciate it. >> and coming up, two stories for judge andrew napolitano. the supreme court strikes down texas' abortion law. hillary clinton calls it a victory for women. another for the judge, hillary clinton's e-mail scandal. she says that she was never hacked, but a new e-mail says otherwise. and finally, check the dow 30. we are in selloff mode on this monday. british prime minister david cameron just saying the exit vote must be accepted. the third hour of "varney"

coming up next. dow down 314. [plumber] i need to be where the 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.

charles: it's 11 a.m. on the east coast, 8 a.m. in california, and here's what's happening right now. the markets continue to get slammed, all 30 of the stocks in the dow jones industrial average down. actually, verizon sneaking into the green. a u.s.-centric play. this is a big shift to those areas, but i can tell you what's not helping, and those are the british banks. slammed on friday, take a look at barclays, down 25% on friday's session, down another 23% today. absolutely slaughtered despite the fact that david cameron just now saying that the cap requirements are so much better than they were before, other british banks, the royal bank of scotland down 15%, down friday as well. also -- also want you to take a listen to actually what david cameron, outgoing british prime minister, had to say earlier. >> the british people have voted

to leave the european union. it was not the result i wanted, nor the outcome that i believe is best for the country i love, but there can be no doubt about the result. of course, i don't take back what i said about the risks; it is going to be difficult. we've already seen there are going to be adjustments within our economy. complex constitutional issues and challenging new negotiation to undertake with europe. but i am clear and the cabinet agreed this morning that the decision must be accepted, and the process of implementing the decision in the best possible way must now begin. charles: joining us this hour, deirdre bolton and cheryl casone. deirdre, the prime minister spoke about stability, and for the moment the market stage oozed, but -- stabilized, but now we're at the lows of the session. >> the fact that he came out and said there is not going to be a second vote, basically he said this isn't what i wanted, it's what's happening, so now we have to deal with it. as far as the shock, we've all been talking about this, this

was a surprise, this decision, to many people. we saw the dow drop 900 points -- 600 points friday, now at the ls of the session. it's going to take a while to adjust, and it's going to take two years to work out these details. we have also been talking about these other countries asking for referenda, france, holland. many analysts telling me, listen, you can hear the ice cracking. i think investors are going to take a little more time -- charles: but they're selling first and waiting for the outcome later. >> which might be overblown. i know a lot of people are looking at buying opportunities in the market especially when it comes to the financials. we've had some guests already today saying that's what they're doing because this is emotional reaction. charles: it is, you know, but it's interesting because even the knee-jerk reaction, remember before jo cox was murdered, leave was winning. leave had all the wind this their sails. and even the day before 70% of the betting was on leave.

so i know the polls had remained slightly up -- >> i love this idea of polls because when i think you call people, this is still an old-fashioned way to do it. are are you going to vote to do this or that? i can tell you whatever i want over the phone, but maybe when i get into that booth, i make a different decision. charles: also have big news in the supreme court, breaking, in fact, major decision that strikes down texas law at regulated abortion clinics. cheryl, you've got that story. >> this was very controversial. they had struck down what some called a restrictive abortion law in texas. in a 5-3 ruling, the supreme court said basically it put an undue burden on women established in the landmark 1973 roe v. wade decision. this is from the justices, the opinion that was actually handed down, and justice stephen breyer said the appeals court that upheld the law was wrong and

that the courts are required to consider the burdens together with the benefits. so basically these clinics in texas if you were an abortion doctor, you had to have an accreditation. also you had to have, the facilities had to be upgraded, and many critics -- charles: i'm not sure why that seems unreasonable, i really don't. we've seen some worse, some situations where they haven't been sanitary. all right, guys. hey, we're going to have more on this in just a few minutes. the judge is going to come back and help us understand that ruling. in the meantime, we want to go to politics. two national polls are out. first, from the wall street journal, hillary clinton leads donald trump in this one by five points, and then there's a poll from "the washington post" where she's opened up a 12-point lead. let's bring in katrina pierson, donald trump campaign spokesperson. all right, katrina, we saw what donald trump's response was particularly to the wall street -- to the washington post poll. listen, they do registered voters, there are more democratic than republican, that's their rationale.

we know it's tilted, but is there anything in the donald trump camp that you guys should be worried about? >> no, not at all. i mean, again, the washington post poll, obviously, if you look at the real clear politics polls, it's the one poll that shows that she's out there by double digits. everything else was within the margin of error. but even in that poll donald trump is winning with independents x that's extremely important here. and the other poll that you mentioned with the five-point lead, if you add in the third party candidate whether it's libertarian or green party, it's a one-point race, charles. so, obviously, no, we have nothing to worry about. it is june. we are just now getting our message out there to the public, and we're pretty confident donald trump's going the win in november. charles: one thing i look at in these polls is not the polls themselves, but the total movement. in other words, the momentum, where it's going. and "the washington post" poll, donald trump was winning in may, 46-44, so that's shifted. i know he's in a statistical tie

in a whole lot of these swing states, battleground states, but even there you're starting to see a sort of shift. and to me, i know it's early, but is there something where you say, hey, we've got to change strategy a little bit? we're starting to shift in florida, we're shifting in ohio, or is it just too early for any kind of panic? >> well, it's really too early for that. again, this is post-hillary clinton clinching her nomination, essentially, with the delegates, so we do expect her to have a bump there. but i think now, after the convention when both candidates are taking their message to the public and identifying their differences -- and there are stark contrasts in the way that they want to move the nation forward with regard or to policy, specifically, on the economy and national security. and i think once those messages get out, you're going to see that shift into donald trump's favor simply because, you know, we have also launched a web site, lyincrookedhillary.com just to outline all of the lies

she has told that has put our country at risk and cost lives and jobs in this country. charles: right. >> because the media has been protecting hillary for so long, they're not going to be able to do that anymore because we framely have a -- finally have a candidate that can penetrate the media. charles: speak of the media and hillary clinton, katrina, we're going to talk about the left claiming bigotry, the brexit vote, if you will. some, including the president, even pointing the finger at mr. trump. what's your response? >> oh, absolutely. this is what they do, this is what the left does. if things don't go their way, they want to change the rules and cry racism. that's how it's always been since the beginning of time, and people are tired of it. what's really happening here, charles, is you had politicians who have turned their backs on the working class, made promises they had no intentions to keep just to gain power. so, of course, the working middle class is going to be upset with the establishment because the immigrants that they're bringing into the countries, they're not moving

into the affluent neighborhoods. the politicians aren't sponsoring their own refugees. they're moving into the working class neighborhoods, costing their states, their councils money, and they can't stand it anymore. you can only ask the working class to bear the burden to their own detriment for so long. that's exactly what happened in brexit and what's going to happen here in the united states. charles: congratulations on your hashtag thing over the weekend. [laughter] it was all over -- >> trump girls break the internet, that's right. it was fantastic. charles: thanks a lot. really appreciate it, katrina. i want to bring in brit hume, fox news senior political analyst. you've said this election would be about the economy. britain leaving the e.u., certainly, will hurt the economy short term. we see what's happening with the stock market. do you think in a way that actually will help donald trump as well? >> well, if the economy has a real downturn, in other words, if the economy -- the real economy ends up reflecting this

short-term market swings, yeah. it always helps the out party when the in party, you know, when the in party has the government and the economy turns south. that's sort of, that's about as basic in politics as you can get. it's by no means clear to mentioner however, that this brexit vote signals a downturn in the u.s. economy. who knows how this is going to turn out. it's going to take years, so we won't know for a while. charles: although we're seeing some significant damage in bank stocks on both sides of the atlantic. that was the end epicenter of the financial crisis last time. you've got a bank stock down 25% friday, 25% today, you know, is that a approximate i for the overall economy? >> no, i don't think. i really don't. what i think is if there's one thing financial markets hate, it's uncertainty. and the brexit vote, apparently unexpected in financial quarters, has introduced a significant element of uncertainty. nobody knows for sure whether

the u.k. will be able to recreate the trading arrangements and the trade treaties that it has had with the u.k. when it has to go do it on a country-by-country basis. i don't think there's any reason to expect this to spill over into the u.s. economy in any lasting way. that doesn't mean that we're not headed for a downturn, because there are all kinds of other negative signals in the u.s. markets that we've seen. we've had weak second quarter growth and the rest of it. we may yet be headed for a downturn, but i'm not sure brexit would be the cause. charles: let's talk k about that for a minute. that last jobs report, i think it was 38,000 jobs, 25,000 in the private sector, it doesn't get any worse than that. certainly, maybe it's a good base for the dems to build off, but those kind of numbers are shocking, and i'm really surprised donald trump's overall numbers haven't gone up although he does win overwhelmingly when people are asked specifically about the economy. >> that's right.

that's an issue that's very strong for him. people reflexively, seemingly, respond to the fact that this businessman who seems to have been very successful and is very rich would better manage the economy than somebody like whose, most of whose money was accumulated by making speeches after her husband left office. and i think that's, you know, that's why -- that advantage is likely to persist. that doesn't mean, however, that when it gets down to it people will vote for him. charles: i know, brit, we're talking about the economic aspects of this, but there's one concurring theme from the left over and over again, and that's that donald trump is a bigot, he's a racist, he doesn't like women x. then we heard it again this weekend with michael eric dyson on abc actually saying when he hears the term elitism, there's a clear rejection of it in the u.k., that it's actually a red herring x for donald trump it amplifies the worst instincts in this country. nationalism, that's really a white racist supremacist

nationalism. what do you make of that? >> that's the kind of thing we've come to expect from michael eric dyson. i don't buy it. you know, if you get out among the people and talk to them about what's, what they're worried about, they're perfectly rational concerns about lost jobs, low wages, worry about immigration for reasons other than xenophobia. i think it's, to the look at it that way is to see -- that's what happens when you see everything through a particular prism. in this case it's the prism of race. and pretty soon you reach the point where everything is caused by race or racial animosity, and i think that's what's happened here. charles: yeah, i tend to agree with you. i love to hear just how these candidates are going to bring all of americans to a better place instead of all this other stuff. i really hope we can get there between now and november. >> i think we all hope that. charles: brit, thanks a lot.

want to check on some tech stocks. deirdre? >> yeah. charles, you and i had a spirited discussion ability amazon and a few other tech stocks, but cheryl made this point. if you see all this red on your screens and there are stocks that you want to own, these are days to buy on discount. of course, the caveat as you talk a lot about on your show, you have to have a strong stomach, and you cannot be looking to cash out tomorrow. if you know these companies, amazon, alphabet google, facebook, you know them, you use products and you believe in what you hear about their stories for growth, then these are great days to buy those stocks. that said, i just wouldn't do it if you need that money in the next 12-18 months, because it's going to take two years to work out all these agreements. charles: that's the operative word, right? the operative word is the -- is if you believe in growth. you've got these individual names who are doing extraordinarily well, but you wonder how long they can keep it

up, and if they can't, at some point th weigh heavily on 'em. it's not -- >> all right, charles, you're coming back to me. >> charles and i went rounds on this. [laughter] i personally feel like big tech is not going anywhere -- charles: you like all those names in? >> i actually can't read because i don't have the right contacts in. [laughter] i think in one way or another, charles, yes. i do like them. because either they're going to grow or they're going to fund other companies that grow. ge, that stock is not up there. ge ventures is, basically, ceding the next generation of tech companies. so there's all kinds of ways to play this. even companies that have most of their exposure to the u.s. if you believe the u.s. is the most stable place for your money, starbucks, cheesecake factory. if you're afraid to put money in a stock that has significant exposure to europe, fine. pick ones that do 90% of their business in the u.s.

charles: i like that idea. >> there's some news on netflix i found very interesting, the fact that they're going to be potentially offering downloadable shows. right now it's streaming, but netflix may be doing what amazon is starting to do, getting out of the streaming game so you can actually download your favorite, orange is the new black episode and have it on the computer -- >> i think we're addicted to these products and these companies. that's my opinion. >> really quick, i do want to point out, you have two names in the green. look at the dow 30, verizon and johnson & johnson. charles: up a collective 33 cents. >> well -- it was up a little bit more a moment ago when i noticed it. [laughter] barons said there was 50 stocks that could brighten your blues, and that could be giving -- verizon, just real quick, guys, actually is -- does not have exposure to the brexit, to the u.k. like a lot of the other wireless companies do.

>> exactly. >> that's been seen as a positive. charles: well, it's a double-edged sword because there was a time when that international exposure which, by the way, let's face it, it is what's driving three companies. after you've grown in america for a while, there's a lot of profits to be made there. netflix, ultimately, they're going to be in china bigtime. they've got a head start, and no one can beat 'em. so that first mover there is going to be huge. the flip side is apple facing huge headwinds in this very same country. >> yeah. and i think a lot of the overseas strategies for these companies are look more towards asia at this time versus europe. china, of course, a big part of that. india's a very young country. there's a lot of people that i speak with who are asian strategists who say if you get into india, that's very strong. facebook is already there. >> stuart would say that microsoft is definitely oversold today. [laughter] charles: india is the world's largest democracy, they speak english, and the average age is 29, 30.

but you talk about regulations, oh, my goodness. they have shot themselves in the foot trying to protect the small ma and pa onion seller. gotta throw it out the window, bring in the big businesses. they could be the next big china. all right, guys, breaking news from earlier. the supreme court striking down that texas abortion law. all rise, judge andrew knoll low is here. andrew napolitano is here. >> i liked the all rise. [laughter] charles: i almost stood up myself. was this a surprise to you, the 5-3 ruling? >> it was not a surprise to me. since planned parenthood v. casey which is the second great abortion decision of the supreme court -- by great, i mean seminal in that it resolved a lot of disputes -- charles: after roe v. wade -- >> justice kennedy has consistently been on the side of the pro-choice arguments when he believes that the states are doing things to interfere with a

woman's right to choose under the guise of safety. and that's exactly what the court found here. so it's a 5-3 decision. it would not have had a different outcome if justice scalia were living. maybe his persuasive powers might have changed justice kennedy's mind, i don't think so. he's been consistently of this view. and the court basically found that the texas legislation which required abortion providers basically to have the same facilities and expertise as hospital emergency rooms was a subterfuge, was intended to make abortions more difficult -- charles: right. >> -- not safer. that is an undue burden, and the planned parenthood v. casey case says the states cannot place an undue burden in the path of the woman choosing of to have an abortion. stated differently, this is a significant win for pro-abortion forces. it may actually quell a lot of cases because it lays down the

law with a lot of clarity. charles: you know, i will say having read about philadelphia, the facility how filthy it was with the standards and knowing that there could be a lot of those things lingering out there, so so ironic that the liberals who want to regulate everything from lemonade stands on up -- >> they don't want to regulate. charles: they don't want safer or, cleaner places -- >> it almost sounds like you read justice thomas' dissent. [laughter] because you just summarized it very nicely. he accuses the majority of treating abortion very differently from all other cases. for example, there's a requirement in the constitution that you have a real case or controversy, that as somebody who's the plaintiff actually has been harmed by the defendant. the plaintiffs here are not even abortion providers, nor are they women that want to have abortions. they're people that don't like the texas statute. so right off the get go the court has agreed to take a case

which it ordinarily would not, and justice thomas proceeds on from there. charles: the next one, we've got an update on hillary clinton's e-mail scandal. you say her aide, huma abedin, warned of hacker attacks. is that the scandal i'm hearing about? >> well, there's a couple things missing. mrs. clinton was ordered by a federal judge with, judge 'em met sullivan -- who, by the way, was appointed to the bench by her husband -- to certify that she has return lded all of her governmental' e-mails. when a judge says to a person involved in the case you will certify to this under penalty of perjury, that's code for i don't believe you. and if you do certify it under penalty of perjury and it's not true, i'm going to make a referral to the justice department. so she signs this statement. i certify under penalty of perjury that i have returned all governmental e-mails to the state department.

then one pops up from huma abedin's e-mails which was on mrs. clinton's server which mrs. clinton did not surrender to the state department. so she may have a problem with a perjury charge in front of judge sullivan. what did this e-mail say? it's an e-mail from ms. abedin to secretary clinton and their inner circle saying we have to shut down the clinton serve earn because there have been attempts -- server because there have been attempts to hack it. now, this defies mrs. clinton's public statement we were never hacked, it defies the statement she made to judge sullivan. that's why i say the news over the weekend is very bad for her, but it was on the back page because of brexit. the other thing that's missing, 75 entries on her official secretary of state calendar and diary, who'd she see, where did he go, what did she talk about. 75 entries mysteriously missing. charles: the excuse of it was just one slipped through the cracks.

>> it's hard to believe -- charles: it's interesting the one that slipped through the cracks. >> yes. charles: the one that would actually have the biggest impact -- >> you know, the defense that she made was i thought i took it off the server is actually an admission of guilt. an admission that she retained governmental e-mail on her server and then attempted to wipe it clean. two crimes right there. taking the government's property and destroying it and not giving it back. so even when she admits -- even when she denies something, she's admitting to something else. charles: still unlikely though, right? that we'll get any kind of resolution before the election. >> the fbi is demoralized because their boss last week showed a willingness to follow the president's political paradigm in the face of reality. she said we should fight terror with love, and she said we can alter fbi records to create a false impression to the public about what happened. that sets -- charles: you know what?

that's done with love too. [laughter] thanks a lot. hey, got to get a quick check on dow. we're near or the session lows. dow off 316 points, maybe 1700 holds, we're at 1708. susquehanna cutting shares on carnival, google's reportedly going to release its own smartphone later on this year. and it's not just the british banks, germany's deutsche bank down 7 president, that bank was down also pretty big on friday as well. here's spain's bank, huge day. all these banks getting hit. remember banks getting hit. last time we heard that? 2009. we'll be right back. if you suffer from a dry mouth, then you'll know how uncomfortable it can be. but did you know that the lack of saliva can also lead to tooth decay and bad breath?

well, there is biotene, specially formulated with moisturizers and lubricants... biotene can provide soothing relief and it helps keep your mouth healthy too. biotene, for people who suffer from a dry mouth.

by switching to xfinity x1. rio olympic games show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1.

charles: guys, it ain't pretty. you're looking at the dow jones off 300 points, plus down 600 points -- points on friday. there's no urgency at all. the best we saw today were two dow stocks, two dow components fractionally higher. verizon and johnson & johnson. but maybe we'll put in a bottom here. at some point we do expect the market to try to rebound. in the meantime, take a listen to what u.s. attorney general says about wall street.

wall street itself, that system being rigged. >> i think to an extent people are right about the system being rigged. this office has been as aggressive as any prosecutor's office in the country over the last number of years to try to make the system fair for everybody be make sure everyone plays by the same rules. i think people have a right to be given the track record of this office and other offices of exposing fraud to be worried about that. charles: judge napolitano, listen, isn't it a certain respondent that he has, though, when he tosses these things around? rigged to what degree? how? and isn't there a distinct difference between being unfair and rigged, or -- you know, from a legal point of view. >> yes. yes, of course there is. now, i read the entire transcript, and in fairness to him i think he was talking not just about wall street, but also about the government. because in the next paragraph he recounted his convictions of formerr speaker of the assembly, shelley silver, and

former senate majority leader dean skelos. when i saw the post headline this morning, i'm after you, a reported quote from u.s. attorney brajas, the same job rudy giuliani once had, i thought it was a post exaggeration. as i watched the interview with george stephanopoulos, it's not an exaggeration at all. he says there is corruption in the executive departments of governor here in new york. doesn't necessarily mean he's after the governor and mayor personally, but he's after people around them. look, one way to look at this is it has been a jumping place for political success going back to tom dewey -- charles: sure. >> -- and rudy giuliani. another way to look at it is without him there, the politicians would run amok, and they would be accepting bribes, and the state system is not strong enough or politically immune enough to go after them.

charles: but i think the last three governors of illinois are in prison -- [laughter] we just had a congressman resign friday to go to prison. >> yes. charles: tammany hall, in other words -- >> i tell you one thing they all have in champion? federal prosecutions. not local or state prosecutions. the argument is the state folks are not wrong, they just lack the political wherewithal to do this. they'll be voted out of office. he is not properly elected, he's appointed by the president and serves at the pleasure of the president. charles: it also did sound like he was doing a campaign spiel too. >> no one knows where he wants to go after this, but i believe he has his crosshairs on some household names in new york politics. charles: judge, really appreciate it. one more time, let's look at the big board. talked two or three minutes about maybe finding stability down at 307, we've come back 26 points.

you will find intermittently throughout the session where we rebound. the key is to take out one of those earlier rebounds, that would be dow off maybe 200 points. in the meantime, those british banks continue to get hammered, barclays, royal bank of scotland, hsbc, they're all significantly down. and now i want to check on the u.s. banks because they have not gone unscathed either. they've been under a huge amount of pressure. not as much as their british counterparts. deirdre, of course, everyone's worried because the banks were the epicenter of the financial collapse, the financial meltdown and everything lost, that was 2008-2009. >> indeed, they were. so to me, for what it's worth, this is nothing like 2008. i mean, in 2008 the credit crisis, that was caused by so many things and, yes, the banks were at the epicenter. but this is not, you know, as i see it risk displaced everywhere that's just going to fall like dominoes. yes, obviously, the banks are trading lower.

i think that's more because the fed stays on hold for a longer amount of time. this means it's harder for any bank to make money. so i see that as primary cause. i mean, something tangentially to keep in mind is, yeah, i am sure a few of the big european banks will start to pull some jobs out of london, and in the vote that's why you saw london want to stay in the u.k., in the e.u., because if you're running a club, a restaurant, any business in london, you don't want those bankers going anywhere, you don't want those jobs going anywhere. morgan stanley this morning saying we're going to keep a staff, of course, in london, we're not just going to take everybody out of there. bottom line, if you want to own the banks, in my opinion it's too early, but if for some reason you love bank stocks, get them on discount because this that is nothing to do with wall street. charles: the city is the same as wall street. >> 11% is tax receipts.

charles: ashley webster is live in london. ashley? >> reporter: yeah, charles, and it's interesting picking up on that conversation, there has been a suggestion that perhaps a london visa could be created so that those bankers could stay here, especially those that are coming here from the rest of the european union. they're in london, they're working in banks, they're specializing, they would be granted a special visa, just one of the options. earlier this afternoon we heard from david cameron talking to the members of parliament for the first time since the vote. he said, listen, it wasn't what he believes was the best outcome for the country, but he says the vote must be respected and implemented. and as for those banks, he said, listen, we are prepared, and both george osborne, the treasury secretary, and mr. carney, the head of the bank of ending land, they have things -- england, they have things in control. listen to this. >> the markets may not have been expecting the referendum result,

but as the chancellor set out this morning, the treasury, the bank of england and our other financial authorities have spent the last few months putting in place robust contingency plans. as the governor of the bank of england said on friday, the banks' stress tests have thrown shah u.k. institutions have enough -- shown that institutions can withstand a question their owe more severe than the country currently faces. >> reporter: in other words, a lot better than what we saw back in 2007 when you remember northern rock bringing back those nightmares? he says the banks are much better prepared for whatever happens. john kerry in brussels a short time ago saying, look, saying to the e.u., don't go off half cocked, as he put it. don't lose your heads, everything will be just fine. john kerry coming to england as we speak. meanwhile, the italian prime minister saying, look, the e.u., he says, has to be relaunched. he says the vote by the u.k., he

characterized it as a boulder landing on the e.u. let's face it, the entry into the european union was never a marriage made in happy, >> i've got a feeling the divorce is going to be extremely messy, charles. charles: ashley, thank you very much. appreciate it. hey, want to bring in mark smith, senior law and public policy fellow at kings college. now, you say it's good that the u.k. is going to leave the e.u. you like this decision. >> i think it's a fantastic economic opportunity for great britain because they have all the wealth, productivity that they have always had, great universities, great technology, real estate, banking, they have all these things. and now they get to do business without being held down by the anchor known as the european uniproonwhich -- union which just came out this morning where basically the e.u. came out and said we want to ban different kinds of vacuum cleaners, toasters and tea makers because they're not energy efficient. these kinds of absurd economic

choices made by unelected bureaucrats in brussels goes by the wayside, and the brits will no longer be burdened with this. in the long run, this is going to be great for the ordinary british citizen and great, frankly, forked world economy. charles: what about their immigration policies? i think one of the big deals in 2004 the e.u. expanded the, added ten more countries. listen, not economic powerhouses, right? estonia, latvia, a lot of cheap labor poured into britain. how do they resolve that? they're not going to deport that people, but that won't matter if they can jump-start the overall economy. >> charles, the first rule when you're in a hole is to put down shovel and stop digging. [laughter] the british have decided to stop digging altogether. now, of course, they have work to do to fill back in the hole, you know, get rid of some of the barnacles on their capitalistic machine that has been built up by the e.u. but the first thing they've done is said, stop.

no more insane regulations, no more additional taxes. we're going to pause, and and now we're winning to look toward the -- we're going to look toward the future. and we can all agree it's not the european union no matter how you slice it. charles: all right, mark, thank you very much. really appreciate it. now i want you guys to listen to what donald trump said about hillary. >> she should go on camera. she called brexit 100% wrong. she doesn't want to go on camera because she's embarrassed. charles: all right, cheryl, deirdre? what do you make of it? >> basically, he's the one that came out and said they should leave, and hillary supported president obama in saying that they should stay, it was better for the country, so he's saying she's embarrassed, she's not going to address it now that the exit did happen. i think he's got a good point. if she called this wrong, then she's wrong, and she should come out and admit that, but she won't. >> what i love is everybody keeps saying donald trump does not know how to run a campaign, not a professional politician,

but there he is on the golf course in scotland, obviously there for his business, but at the right place at the right time and, essentially, making comments that reflect the vote that ended up happening. i think say what you will, but he actually played that extraordinarily well. >> i wonder how hillary handles this going forward. charles: i don't think she handles it, i don't think she'll focus on this too much anymore. she had a big joint campaign event with elizabeth warren -- >> yeah. charles: like we keep saying, now -- you know what will be interesting? if the markets keep going down. now, the mainstream media, you'd be surpriseddeirdre, had a different take on this thinking that donald trump shouldn't have been in scotland and saying his golf courses would do well because pound was in turmoil was a negative. so, you know, it's going to be interesting if the markets keep going down, does hillary brag about, hey, this is because of the brexit, but it would be in poor taste if she -- >> he has a job to do, and that is to continue to run that business. charles: right. >> i think he made the right decision, and he also finish.

>> either way, she looks bad because she hasn't come out and spoken about it, but if she doesn't respond to him, she looks like she can't argue her point. he again, very cleverly, has put her on her heels. charles: i want to bring in a donald trump supporter, republican strategist. by the way, that's mark -- this is not gianno, mark is with us. i'm sorry, we have to -- all right, gianno. there are you go, bud. [laughter] donald trump, he had a great week last week. it was an awful week for president obama and not a good week for hillary clinton. how does he carry this momentum now? >> well, we see that the polls have tightened up and hillary clinton got a bounce in the polls because she is now the presumptive democratic nominee which historically provides a bump in the polls. we see that he is only trailing her by five points nationally in spite of all the things that have happened in the last three weeks. he's had a very, very, very good time.

and i think how he continues the momentum is continue to stay on message, continue to stay on topic. we continue to see him improve day after day. he's following the teleprompter, he's rolling out policy positions, and we like what we're seeing because it's beginning to work. and i think as the message sink in, we're going to see more and more folks coalesce whether they be republicans, bernie sanders supporters, independents and straight democratic supporters. charles: you know, hillary clinton, of course, avoided this whole brexit topic. she was on the wrong side of history. does donald trump continue to talk about this or sort of shift because if markets keep going down, the british pound keeps getting hammered and there's a sense of panic, is there danger of sounding like, hey, he's gleeful about bad news? >> no, because we see that the poll numbers show voters trust him more on the economy than they trust hillary clinton. so with a plan that he can show, hey, this is what i'm looking to do to bring jobs back into the united states in terms of the corporate tax hike -- not tax hike, but tax rate, rather or,

as well as what he would be looking to charge citizens in taxes is something he should continue. what a lot of people have noticed and continue to say is although this happened over in the u.k., there's a similarity here in the united states where people feel as though the system is rigged, and there's people coming into their country that shouldn't be there, and they want to make sure they're taking control of it. this is a message in which he has won on, and he's proven to be true. charles: you know, guys, oxford dictionary the word of the year >> thank you for having me. tree into moments ago we were getting reports around 307. 50 polling day we are still down the block, but you will be the sort of rallies the day goes on. don't be surprised. you can't change the channel today. either way, for the first time scientists produce a computer image showing large sections of californians rising and seeking

the san andreas fault line. details on what that means the big one. in politics, broadway raising money for hillary. tickets to see hamilton only $100,000. miami radio hosts and ricky santos said they like hillary but his entire family are voting for donald trump. wait until you find out why appeared he's next. >> he says he can trust you. another sister kirk and my brother says you should go to jail. what would you say to them? how would you convince them to sit on your side of the field? [cheers and applause] >> i love you, darling. i love her. milani is, i have fallen in love with her.

>> and nicole petallides with your fox business brief. too early to buy in the brexit sellout. something i've been hearing for the new york stock exchange. dip into the market is sold off in two trading days. a little nervous just yet. the dow is off the low down over 330-point now down to 30. we've been seeing for an the board. s&p, not back down when elsewhere. the s&p dropped below 2000 for psychological mark. we've seen lizards on the dow jones industrial average under

pressure following the british bill. you can see american express, jpmorgan looking here at johnson & johnson. we are watching gold and utilities. verizon gets 100% of its sales right here.

i'm not .. in my father is noted for trump because he says he can't trust you.

my mother says you're a crick in your brother says you should go to jail. what would you say to them? are you listening right now. how would you convince them to sit on your side of the field? why is hillary clinton the right choice for america? >> number one, i would ask them not to be listening to the negative attacks that have her violence attempts at me. charles: dallas miami radio hosts in ricky santos and he joins us now. it is safe to say you can't hillary clinton a little flat-footed there. >> it is just no different than any of the debate when she's asked a difficult question. the difficult question a lot of people are having in american households today such as mine. charles: but if you make of it obviously there was a pause. do you think democrats in general take the hispanic vote for granted and when they hear something like that it is a shock to them. >> absolutely not.

quite the contrary. she was ready for any question that i had for her. her campaign did not tell me i could or could not ask anything and this is a question migrate in my heart and began the conversation taking place in my own household and why not ask hillary although i support her, ask her what i would say, what she would say, given the opportunity to talk directly to my parents into my brothers and others who might have certain doubts about her. charles: i don't disagree with the great question from a legitimate question. she was taken aback and surprised at just how many people in your household has such negative feelings about her. she falls well amongst hispanics do not look it over the top in florida. >> donald trump is sitting with hispanics and he will win the election in november. i could tell you i come from a cuban-american family. both my parents are cuban immigrant parents are cuban. they are dying off and they have not been able to vote in cuba

for over 50 something years. it's beyond me -- come on, people don't like dictators, much less cuban and donald trump asked very similar to a tape date or the way he is so divisive and polarizing. it goes beyond me. at the same time, it is part of -- >> winner at the dinner table, that is a harsh -- he said it was a harsh charge against donald trump in when they say we like him, what are they telling you that you're getting wrong? >> first of all i don't think it's harsh. i'm just making reference to peer >> the members of your family don't like donald ciampa more vote for him, what are they countering your claim is a dictator, potential dictator. what are they think you're getting wrong? >> were in a democratic society. we can agree to disagree.

this country runs lebanon meet in the middle. not too far right, not too far left. between my parents and brother we are discussing it and it turns into a funny conversation. it is what it is peered at the end of the day it's not funny. it's very serious talking about the future leader of the united states of america. >> no doubt about it. thank you very much. appreciate you coming over. charles: on tuesday and hillary clinton. her campaign getting a boost from the hottest on broadway. they ain't cheap. they have for everybody. >> up to $100,000 if hamilton is the hottest ticket on broadway. if you've got the money and you like hillary clinton, go to the website and enter a chance to win. she's teaming up with the hottest guy on broadway right now. charles: with the $12,000 payout

to, would give you space-bar you better provide aid g4 15. >> even people who attended the fundraiser today pay something like $250,000 a play, they go, but even they say we realize. charles: george clooney. they still do it. listen, money is more important and that can have a critical from time to time. >> i guess it is. i cannot speak for that campaign. charles: we know the optics are greater. if you're the champion of the little person. >> that is where donald trump and senator sanders although ultimately is not the candidate for the democratic side have said we are doing this ourselves. twenty-seven dollars became a joke on snl. the point is it is better to say i have grassroots support. i'm here for the people. in doing this myself.

charles: by the way, in case you're interested you get two tickets, go to the party. clinton will be there and you get invited to the democratic national convention. get in there before cheryl casone does. it could complicate already a lot of people compromised in many ways. the navy commander here and i want to talk to you about this as it didn't come up in my mind enough. what does this mean for nato and the security of european people? a lot of people say perhaps the biggest winner of all of this, vladimir putin. >> vladimir putin is losing across the board. russia's economy is contracting. there's no sense in which russia is written in anything other than a short-term position to me. let me talk briefly. a lot of people talk about european security in the context of brexit.

nato perceive the existence of the european union by over four decades and nato itself was an outgrowth of the north american alliance come in the u.k., u.s. canada, new zealand have won world war ii. all of this cry about the collapse of european security organization doesn't me with the facts. nato is the strongest it's ever been. perfectly capablble of handling external threats. for the e.u. has failed to steal it with the internal security threat posed by terrorism and the idea that somehow a transnational or pan-european organization of unelected bureaucrats in brussels would adequately address it. clearly, the e.u. has failed in that mission. nato has to take a bigger role. charles: back in and of itself because a lot of people say to your point may know has been around a long time. default, antiquated. perhaps cold war era that doesn't exist anymore. could there be pressure on nato to sort of revamp its own

nationstate and endless go at ourselves with a treaty like the nato treaty. >> that's a valid criticism and when nato has to take seriously. they did magnificently at that job. in the post-cold war environment from post-cold war environment, nato sought to transform itself to make itself more relevant. nato still has further reformation for the transformation has got to be more agile. it's got to look at whether or not there's a role for nato and the counterterrorism or antiterrorism role inside europe. that violates the presets which are externally focused and they don't deal with any of issues. if nader is relevant, they've got to look at that. charles: thank you very much. really, really appreciate it. we made about 100-point bounce from the lows of the session. me and drain again. now the key is not to take out those from before. we start to see the stairstep. >> we have to be careful because we could have had a lot of green

arrows today and we didn't. look at the nikkei in japan. ended up higher by 2%. we will have volatility. every headline coming out of britain seems to be in the market. on the other side of this, so many analysts come out and financial journals as well they look at companies oversold. if you've been waiting for shares of apple and netflix, now might be a time. some of these names can be very oversold. charles: we do understand the concept of buy low, sell high. most people i talked to say can't wait for the next pullback. if you're afraid of iowa market is stable, a lot of times we're afraid when it's dropping. >> backup commissioner of referenced earlier. verizon moving higher. j&j. if you are really skittish and the u.s. is a lot of traders like to say is the cleanest

dirty shirt in dirty shirt in the closet, buy stocks of most of their exposure, most of their business in the u.s. i mentioned our backs earlier. cheesecake factory, j&j has a little bit more international. charles: summit said the prettiest horse in the glue factory. you think that we've got -- our economy is not living up to its potential. >> to me, this is somebody who lived and worked through 2008. this is just an absorption of any piece of information. it will take a little bit of time to adjust. >> my own paralyzing. i'm going to defend bank stocks. before the whole issue happened on friday, stress test capital requirement, the u.s. and frankly the e.u. have regulated these big names. banking is now boring. honestly, if i buy a stock, i like a boring stock.

>> armand hammer, baking soda, smuckers commit peanut butter and jelly. you put it in your refrigerator. mccormick spices. stick with mccormick spices. >> i would wait a little bit longer until the fed looks like it will raise rates, which is now time. charles: all right, guys. >> i look at the twitter feed on the weekend. you don't like boring. more after this.

charles: gold gave up its gains. cheryl, last word here cheryl: ever u.s. politician should pay attention and happened on friday by the run for the house, senate or mayor for time. british people felt ignored, i'm up to much of what they've done. charles: could've said the same thing after eric cantor. enough of these things happen they will listen.

>> it's a rejection of the political ruling class from a political elite. i'm with you 100%. technology makes it easier for us to coalesce, coordinate voices and here we are. charles: by their very nature they don't listen. everyone does listen to the next guy. connell mcshane. he met her a well done, charles. we were down 334 as your screen just told you earlier. right now 251 to the downside. certainly another down day of and the fallout continues -- here on "cavuto: coast-to-coast" for the next two hours we will be talking about it. connell mcshane filling and fortran for today. we are waiting for the german chancellor, angela merkel, talking about the exit of the u.k. they should be common in the next 30 minutes or so. any news that comes out we will certainly pass along to you. i enjoyed year for