>> represents what is very likely the ebb and flow of our stock market. lauren: breaking news this morning. i was vice president mike prince on his way to asia after the biggest dow point drop in history. it's been a while native trading futures have been following for you. >> the features have been down about 500 points overnight. but then, actually turn positive earlier this morning. about an hour ago in the dow futures are back down a 60

points all over the place. s&p futures on the disorder by 13 points in the nasdaq 100 futures up 49 points. lauren: all of this is playing out in the vix measure to its biggest percentage came in history up 116%. volatility off the hook. connell: meanwhile, look at ron's after falling yesterday on the yield on the 10 year treasury yield up a little more to just under 2759 is what we have this morning. a lot of people talking about the computer trading whether bonds, stocks and how quickly these have come over the last couple days. lauren: can gauge the sentiment of a computer. it opened down 3%, but as you can see now, the sea in london done close to 2% as are the other major averages. trained to asia had our good

indicating japan down by four and three quarters of a percent. almost 5%. the shanghai composite down by more than 3% overnight. lauren: investors also unnerved out for the website us for discount brokers and mutual funds went down after the market sells off fiercely. we will tell you exactly what the fact day. "fbn:am" starts right now. ♪ connell: 5:02 in the morning february 6th. that's like all the certainty we have right now. it's been a crazy day already. connell mcshane filling in one more day for cheryl casone. lauren: this is america doing one second doing one thing in the next second doing another

thing. connell: in the conference call and we had a two hours ago come at 3:00 in the morning. crazy time for a conference call. the dow futures down 500 points for never getting to do the show, they are up 150 points and now they are back down or flat. and it's only 5:00 in the morning. who knows what the rest that they will bring. lauren: strap on the seat belt. this crazy hour one of the biggest markets stocks recover soon yesterday. a harrowing day for investors is the dow posted down 1175 points, closing while below 25,000 the volatility in may not be over today. >> restore some days. tracee carrasco joins us missing details. >> monday 523,923 down almost 1600 points. the most points ever dropped on

the basis. all 30 dow yesterday for a second day in a row. the last time that happened was in 2015. the dow and the s&p 500 have erased the gains for the year print the dow was down one point higher% for the year in the s&p 500 down 29%. the nasdaq still hanging in there, .9%. all this calling the website in the blocks of rogue regimes such as charles schwab and ameritrade mutual funds and it shows visors to suffer outages and slowdowns. unnerving individual investors to access their account during the market draw. meanwhile, the vix and the s&p 500 jumped 175% to 37.3 to come the largest one-day percentage gain in her come a 10 year average for the first time since november 4, 2016. the white house remains optimistic. here is what are huckabee

sanders had to say about yesterday's market move. the president's focus is on a long-term economic fundamentals which remain exceptionally strong with u.s. economic growth historically low unemployment and increasing wages for american workers. the president's tax cut in regulatory reform will further enhance the us economy and could she need to increase prosperity for the american people. the dow was up almost 33% from election day and 183,321 -- a lot to digest today. lauren: as you're speaking down almost 200 points on the dow. turn into just in a couple minutes. we are flat and we are down. obviously searching for some sort of bottom. connell: something is going on. let's bring on our next guest says we discussed this overnight

trading that is just unbelievable. jonathan hoenig with capitalistpig.com and investment advisory group. gentleman, as we monitor this company do you have a word to define what is going on? is it freefall? is it whiplash? opportunity to define a dip? >> normalcy. we've gone so long without any volatility that we forget the stock market go down as well. we've been due for some type of a correction. five, 6% of the all-time high. when elephants are dancing, mice get trampled. massive swings than one is the last time you saw a 1200. swing in the dow jones industrial average. a good time for most investors

to sit on their hands. lauren: seems like it's happening out of nowhere. what is the real capitalist for the volatility we're seeing? >> what i think it is as interest rates. really smart people thinking long-term interest rates would never go up again in the u.s. had become japan. what you've seen over the last couple months with the passage of the tax cut and they go from 20522 a.d., 290 in a short period of time, the reorganization of asset entered a new volatility regime. i'm a buyer in any weakness because as you look out the economy is strong, getting stronger and the speed continues to increase. >> the dow fell 200 points into thai interest rates in puncher brohm powell's first day essentially leaving the central bank. do you think because do you see

any change, the market moves affecting the change in leadership in the change of direction perhaps if the fed? >> about the question marks about investing, the biggest wild card because it's a lot easier to determine how many huggies wal-mart is going to sell rather than what the federal reserve is going to do. the bigger reason to worry beyond interest rate and then just the nature of the market. yesterday we saw 10 times more new 52 week lows and 52 week highs. connell mentions volatility. some of these linked eps are now starting to blow up. i don't see any indication that the carnage for stocks is over just yet. lauren: so we are not in an oversold can issue just yet, michael. >> i don't know. i'm not here to call a bottom or

top. if you look at 12th of may 18 through 24 months, it's getting stronger. people like stocks a week ago, two weeks ago, now they're much cheaper than they were. if you are trying to day trade, your trading against sophisticated computers in the world and that is what is pushing the market around where and market around we were and had high-volume yesterday. if you have a one to three year time horizon and come anything like this with a great chance to get in come everybody and their brother uninvested since the election. >> dow futures now done 246 points. nasdaq futures are higher. as we wrap this up coming to get the stock weren't get the stockmarket is trying to tell us something about the economy many people might not be seeing? >> the market is a great forward-looking indicator. it's gone up for the better part of eight years. a lot about the market news wasn't so great.

the glass half-empty, like the tax cuts, record low unemployment, maybe the market is starting to realize in the future isn't as rosy as this in the previous couple years. lauren: stick with us. michael coming thank you so much. connell: that's a big question in terms of what jonathan brings up on the underlying economy and what it all means. in the midst of all the volatility of the markets in ohio for an event and he touted the growing economy in the wage growth we are now seeing for workers. >> your paychecks are now going way up. your taxes are going way down and right now for the first time in a long time and you've seen it, factories are coming back.

trying to meanwhile, treasury secretary steedman itching -- mnuchin set to testify. anything else closely watched today. lauren: when we come back on the trading already well underway in london stocks opening down 3%. now down 2% live across the pond and ask scott bush shellady what is sell off poisonous. google has added the other headlines making news this morning. right now coming dow futures after falling 1175 points yesterday. the dow and s&p negative for the year. dow futures are down almost 1%. we'll be right back. emporary ma.

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>> good morning and welcome back. we have to take a look at futures this morning. dow futures 186. up 100 points coming down 500 throughout the morning. nasdaq futures gaining 21. the house intelligence committee has improved the democratic response detailing fbi surveillance on carter page. the democratic mumble makes the case for surveillance is paid

one-time trump campaign advisor. the white house has five days to either allow or reject disclosure. lulu lemon ceo residing after leaving the company for four years. we have a statement provides little detail in it expects all employees to exemplify the highest levels of integrity and respect for one another and he fell short. that cannot lulu lemon shares down more than 3% after hours. set to launch today, google kerry a cherry red roadster had. the most powerful spaceship that blasted apollo astronauts to the moon way back when. about a billion dollars to build so it's going to be cool. go into outer space hopefully. connell: hopefully. back to our top story. a quarter past the hour.

the market selloff such as it is continues. the futures down as lauren mentioned a moment ago. 500 points was about two hours ago. the dow futures down 130 even though the s&p's are up by five. the kind of morning authority then. another view on things across the pond this time. trustworthy man, white rimmed glasses on, nothing to fear. scott shellady, managing director t. jay m., "varney & company," knows his markets as well as anybody working here. are you here to scare us this morning or reinsurer investors? >> i wouldn't scare you, but i would say fast in your seatbelts. for the last seven or eight years. everything's going to be fine. though volatility except for the equity market.

that's not the case and we've got a bad case of short-term as them. when things unwind and by the way they are going in for a good reason. we've seen grow grave at 524%. these are good reasons, but now level make interest rates rise a little bit. we can go up in the stock market and go down on good reason for that is just part of this unwind. we need to see investors unwind where they expect low volatility trying to tell us what we should be looking for. percentagewise the average in what they've done here today. kingstown 120.5%, the dow 32%, 33% since election day. the selloff in the two sessions, 7% lower than the dow sinks in the s&p, something like that. woodward for a brief period into technical correction, 10% from a

high. after we presumably get there if we do, is that it? you look for something else? how do you see a play now? >> this is going to go on for a few days. the fighter he is the head. it will be a few days or free rounds to get underneath us. when you put in perspective not for a good reason or bad reason but to give everybody pause for thought. we were up 6% at the end of january thomas was given by january plus another%. that puts us in on the end of november, beginning of december last year. one more slowdown. connell: we are a little for time, and the governments tell us all the time and they tell us again the underlying fundamentals are strong. sometimes it is a line. that is true this time.

a fanfare the economy itself is strong? >> yeah, the economy itself is getting stronger, numbers in the right direction. we've pulled forward a lot of the good news enough for the market did what it did already. keep that in mind. connell: that is what jonathan was saying. thanks a lot. appreciate it. lauren: a day all about it. don't worry be happy. that's advice from billionaire direct to your mark cuban on the market selloff. >> if you've got cash on the sidelines, yet it is okay. but i do think the market will be okay over the long haul. lauren: more for the interview with mark cuban including exactly where he's putting his money. donald trump stockmarkets major rise since the election, but now that is falling. will he take blame for that as

well? the saudi government shutdown affect these markets? our political panel will weigh in. a whiplash type of day on wall street. dow futures down 181 points. s&p said three, nasdaq futures at 31. you are watching "fbn:am." "volatile markets." something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial

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lauren: submarkets cratered yesterday. so it had dow yesterday suffering its biggest one point drop in history. billionaire investor mark cuban on your world with neil cavuto. >> are you nervous after today? >> i'm not nervous that i think is necessary.

there is unnecessary about what the market does next. when you have a run-up liquid had the election, markets don't go in a straight line forever. there is just a question of what, when and how much. >> a lot of this trying to find an opportunity to catch a falling knife. would you be dabbling in any sector stocks, groups, aggregates based on today? >> my two biggest holdings are netflix and amazon and they've both done really well. if they fall anymore i will find some calls. i'm a long-time holder. part of the problem today in why we had the biggest selloff ever when markets go straight up like we have for the past 14 or so most people get overconfident and is the same everybody's a genius in the bull market and when they get overconfident they start buying on margin and not worked until it doesn't.

i think i saw something recently that there were a record number of retail accounts set up, coming in from individual investors and a lot of that was being borrowed. if all of a sudden you get an alert on your phone or a call from your broker in your stocks are down significantly in you bought on margin, you're pretty much forced to sell. that contributed a lot to today's decline. >> the white house of course has attached much of its success to the markets. i know you might slightly disagree that the media doesn't give them a fair shake when it comes to the market run-up. now the argument is if you own it on the way out, you own it on the way down. >> now, they should have owned it on the way up and they don't own it on the way down. when people are excited about their situation or companies, the tax benefits certainly

accelerated games, got companies excited. that is all good. markets don't look at the current quarter. they look further into the future. the thing i try to remind everybody of when you buy something, and the company selling to you, they are not selling to you thinking they will lose money. they sell it because they think they've got a good reason. if you go into the market coming to you homework and understand all the risk. connell: watching the dizzying board of what the dow did yesterday. the dow in the s&p 500 wiped out every single game they've had so far this year. connell: yes, we thought this morning we would get it all back. the volatility is here to stay. is right about a lot about in terms of the blame too much on politicians. in a moment, after that historic day not percentagewise which is

worth pointing out. we are set up today for some more selling but we'll take a look at what investors should think about the whether there bright opportunities out there. 237 to the downside which is 1% after a volatile overnight. how close are we to a government shut down? another good question for our political panel. you are watching "fbn:am." ♪ oh! there's one. manatees in novelty ts? surprising. what's "come at me bro?" it's something you say to a friend. what's not surprising? how much money matt saved by switching to geico. fifteen minutes could save you fifteen percent or more. hey. pass please.

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>> today represents what is very likely simply the ebb and flow of our stop market. lauren: avenue flowing the. mike pride in alaska on his way to a share after the biggest dow point decline in history. a wild night in one early morning of trade in dow futures. connell: dow 500 a couple hours

ago then turned positive right before going on the air this morning and down at 262 points. big stocks moving in the selloff for the rally before the s&p 500 broader measure more stably down by about six points. nasdaq futures are up by 11 points. lauren: the nasdaq is still positive for 2018. a key measure of volatility in the market. the highest percentage gain ever up 115%. >> yields start on the 10 year treasury up a bit to .72 or thereabouts. a lot of people talking whether it's bonds or stocks about the computer trading in these markets leading to the wild swings will talk more about. lauren: stock stood up in 3% at this hour down 2% for the first tee, cac dax. connell: in asia, stocks part of

it for .73% following the gal in percentage terms or the shanghai composite in china lower by 3%. >> stocks believe it or not the only thing going down. bitcoin plunging 17% overnight. we've got it all covered for you as "fbn:am" continues right now. connell: just waking up, 5:32 in new york city. very busy day. philly date for cheryl casone. this might be the day where you might want to check your investments. >> a lot of people tell you that's the best advice. we did have the biggest market sell off point wines. not percentagewise, and the dow

down to 1.1500 plus points but did close lower by more than a thousand points. not just the markets falling. lauren: a lot of people returning to a lower market. tracee carrasco joins us with more on that. >> good morning, guys. 23,923, the dow down almost 1600 points. the most it is ever dropped. of 30 dow components down on monday for a second day in a row in the last time this happened was on august 24, 2015. who led yesterday's decline? zero and home depot down 6%. united health down over 5% of goldman sachs down 4%. dow component said to report earnings today with earnings after the close of analyst expectations largely positive

after disappointing 2017. revenue to increase throughput of 1% with adjusted earnings per share of $1.60 up 7 cents from the prior year. the first report since the company's acquisition of entertainment assets. also report the fourth-quarter earnings are expecting a better run than previous quarter with earnings per share $1.30 at 720% from a year ago. forecasting a revenue of 38. we'll see if they have any impact on the expected numbers. not the only thing that kept overnight. dropping 17%, falling briefly below to its lowest point in two months without decline lost more than 50% for the year so far. the latest selloff on the heels of reports of potential price manipulation and hyperactivity.

a lot to digest. connell: under maven output of if we have time to get into bitcoin. let's go to the features again to see what they are doing right now. the volatility of things down 200. 195 committed dow futures were. with all of this let's bring jonathan hoenig bring jonathan hoenig back to us bring jonathan hoenig brats who is with us earlier, capitalistpig.com. jonathan burke, financial strategist, good morning. a lot of people set their alarm i may have missed her stellar performance with warren earlier this hour, but in that time -- and that conversation you and did they say and are talking about capability of market and that there may be some sort of an message in there about the economy. is that a lot of people are

positive saying this is just normal correction. would you see they are or what are you worried about? >> the market is a forward-looking indicator as you said in the fact is the economy is doing quite well. the question for the market and what is looking forward an aggressive tact about the first half-hour of our program with higher interest rate. the weakest stocks right now happened to be real estate related. economy is doing great, but the market is looking forward as one of the reasons you seen the 1200. swing overnight. connell: john burke, what you see as you look forward? >> imagine if your jerome powell of the federal reserve. yesterday was your first they worked in the record down,

that's a heck of a first day. markets went down because every first hit. the 1.5% 10 year rate in july july 2012. we've been in trading rates ever since and december 2013 we had 3% which was the high-end of its range in yesterday at 285. we are getting close to that number in the markets were the markets worry for greater the number from a 3% number we haven't been there in quite a while and can the economy is -- connell: still historically not that high. can we withstand not for you a little more worried? what would your strategy be used for short-term question at this stage. >> i tell you i've been doing this for 34 years and what really scares me, you think i'd seen it all, but one thing i've not seen as a sustain the level of rates going up.

the reason that is scary is because most of our clients on stocks and bonds. if the markets going up because rates are going up, and that means bonds are going down and stocks are going down as well. we haven't seen that since the market has lasted its high in 1981. connell: is interesting, what is your take on not? we did stabilize in terms of the raising of. to .9 and now we are to .7. who knows what is next and what is your take on the rising interest rate environment? >> first and foremost, don't panic. some of these numbers are pretty dramatic or don't panic with your individual portfolio. go back to stocks. 6%, 7% off all time highs. that production is enough to get you to jump out the window maybe you are a little bit -- connell: are you like mark cuban buying stuff you like or just

hanging out. >> the best advice for most of us is to keep it simple. if most people had six months worth of living expenses sitting in cash and pay down their consumer debt, that would be a great advantage going into volatility like this. that gives you the confidence to hold on during test. when you have savings and investment. connell: thank you, gentlemen. good days, jonathan and john. lauren: despite the recent drop in stocks, president trump touting a longer-term view of the economy. >> wait until you see gdp over the next year or two. billions and billions of dollars poured back into the united states. america's resurgence or the tax cut which is sauce. >> what are the political risks of the stock market and what that is the main government shut down at the end of the week due to these fragile markets?

our political panel will weigh in. the readings for the super bowl cover were they as good as the game? the nasdaq is up 39. you are seeing major, major volatility. dow futures down 107. they were down 500 also a 500. you are watching "fbn:am."

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connell: what is happening now? what is not happening now. things are actually calm down over the last 20 minutes. that's about as long as we can go. dow 78, volatility over the place. down 77 right now. up 10 on the s&p. in other news, other stories we're following including a community lining the streets to pay respects to a deputy killed in line of deputy. my click were shot and killed investigating a stolen vehicle. the suspect shot and killed at the scene described as an outstanding detected by those who knew him. these behind his wife and 7-year-old twins. the drunk driver accused of killing cold wind talker edwin jackson twice has been diverted. 37-year-old man while sophia is a citizen of auto mall and gave officers a fake name following

the sunday accident. investigators say he is in the u.s. illegally in 07 and nine. super bowl 50 to more than 103 million people watched the game, but it was down 7% from last year. nbc did report a record streaming audio with part of the broadcast. this year's super bowl rings as the 10th most watched program behind eight other super bowls. there you go. i'm a little bit but we give you is. lauren: yes we do in perspective of politics because president trump has never shied away from touting the markets rise as a sign of his success at restoring confidence in the economy. >> the stock market has smashed one record after another. the stock market has reached an all-time high today. the stock market is at an

all-time high. >> we are hitting another record right now. we have to see what's happening. they know that we know what we are doing. >> or their political risks to this than what could a potential government shut down mean for the fragile markets? for my dnc press secretary josé mr. mundo and give this reform cabinet phillips. gentlemen, good morning. do you think it is irresponsible for the president to talk the markets rise than a trillion plus created in the stock market value since the election? >> is certainly deemed to do that because anytime you touted success as strictly as as strictly a something if you're doing and you have complete control over, if it starts to go poorly, but this is something new. any time in american history when the markets have been how the president come down and do a victory lap saying is they're

doing. a week ago the markets are breaking records and democrats were saying this has nothing to do with trump and a week later when they stumble a little bit the same people are saying he likely told you president trump is pining for this market. scott it be one or the other. it's a little bit of middle ground. lauren: giving president trump will own it on the way down to just dismiss it? would he think the reaction would be if they continue to follow this? >> of course not. any failure of president trump he's not going to tie himself to that. the stocks will, then come down. that's part of that. i'm not surprised that a week ago at the state of the union he tried to say to his credit the economy was doing well. now the stock market is dropping. lauren: the economy is doing well. >> talking about the stock market specifically, president

trump trump doesn't understand stockburger principles. i'm not surprised this is happening. i know we are close to a government shut down perhaps. it's tricky when it comes to the president. connell: let's talk about the shut down. house republicans plan to vote today on a bill that would fund the government. still kicking the can down the road until march 23rd. there is the addition there defense spending but nothing on immigration attached to it. do you expect such a continuing resolution if you will? >> based on the meeting it doesn't. there would be continuing to kick it down the road. schumer said they would not support a bill must there were more long-term guarantees. we'll have to wait and see. from the media pr perspective i don't think it's good for either side, as actually not democrats. the last shutdown happened because there was any deal on immigration. president trump essentially came out and conceded we are willing to make a deal. we will gives us down the road

to the streamers which is where the holdup happened on the last bill. it's hard for democrats to push the narrative of we want the government to keep running but republicans are unwilling to compromise kevin president trump came out and said we are willing to compromise its interesting to see who takes the blame. it didn't really go down after the last shutdown we didn't see different things are going along. a little more volatility now, but the market won't take too much of a hit. lauren: that is interesting. josé, i will make you respond. i'd know you don't make the market and that's not your thing. i was reading an op-ed in one of the quotes were as the market returns to normal, americans can be sick of whining. what do you make of that? >> look, let me say one thing and respond on the government shut down did this isn't a democrat or republican issue. they want to make sure we keep

the government open. you know what come in the issue is we will keep it open until march and march we will have the conversation all over again. i'm tired from both sides we continue to do this and not get a long-term solution. enough of this. lauren: that's kind of how works in d.c. unfortunately. josé, cavett, thank you. connell: the stocks are not the only things happening. we will talk about what is behind that and after broader conversation with our friend. always good to talk to you. dow futures and 71, s&p up by 11. "fbn:am" coming right back. the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people

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lauren: a check across the pond. european stocks at the lowest level since august via david adored from "the wall street journal." is there a change to the narrative or something else going on is the reason for the drop you see? >> that remains the question i believe after the industrial average facing a record fell off yesterday. dow futures were 1% drop at the open lifetime and that sparked selloffs across europe and asia-pacific. the stocks as you mentioned for 600 has released all of its games in september and sold off by 5% earlier in the day. what's interesting is the resources, technology and banking shares giving up those that affect or is driving the so far this year. why is this happening now? nobody's entirely sure. various reasons given by analysts and traders alike

complacent investors cover rising bond yields and inflation what is becoming increasing not won't yet be over. >> nobody wants to catch a falling knife. so when it's over, who knows. right now it doesn't look like it. thank you so much. trade to phil flynn is coming up in just a moment. we will talk about the drop we've seen in oil prices, but in the markets as we continue. and i will be interesting to watch throughout the day. phil is coming up next. keep it here, breaking news on "fbn:am." dow futures stabilized.

connell: breaking this morning as we look at these markets in everything on the order of breaking news. take a look at oil which we do watch, senior market and fox news contributor joins us. 63.86, the price down 29 cents but much more from a broader person active. bill, and you like this environment, by the way? is this volatility we are going through, so is joining us on the phone. what do you make of that question aren't >> volatility offers opportunity

when it comes to future traders options, but when you could a big change from practically no volatility to high volatility, there's a period of adjustment. look at the big spike in the vix index and it shows you a lot of what is going on based on fear and not reality. connell: that was something at the end of the day in vix. what are you watching at the end of the day? >> stability right now. definitely look at the european markets in asia markets. they are following the u.s. and they are looking at the u.s. leadership. the bottom line is today's tuesday. if we can close the market stronger tomorrow, a lot of people will realize this is just an overdue correction in the market today. i am feeling a little bit better

to see a little bit of a bounce back in oil prices because i look at oil prices as an indicator for the mobile economy. when the economy is doing good, oil prices are strong and we see stability there. connell: the conversation we had about the oil economy about the forward-looking mechanism and is warning us about some thing that most people are making a case that the underlying fundamentals this time are strong. is that how you see it? >> absolutely. the banks are well capitalized. the economic numbers whether it be factory orders, the asm nonmanufacturing, every part of the economy is hitting on all cylinders. the economy is too good. that's the problem. in the good news is bad news. thank you for calling. have a good day at work. lauren: you getting a bonus? wages going up? another crazy day ahead.

thank you for having me to your show the last couple days. lauren: it's been fun. connell: not ordained. lauren: not boring at all. to quote phil flynn, maria bartiromo, could be this -- could this be the turnaround? maria: you are right. a little rally underway. things are really bouncing right now. we will check that out. good morning, everybody. thanks for joining us. i maria bartiromo. top stories right now 6:00 a.m. on the east coast. another plunge overnight and across the globe yesterday. u.s. market tumbled. single day point decline closing down nearly 1200 points. both the dow and s&p 500 went to the years games with the decline yesterday sending shockwaves across the world. market took a real nosedive. the nikkei average in japan down almost