saying what once was declared is unacceptable is now becoming irreversible. decision time is coming soon for trump. and i think to the extent that the north understands -- the north understands -- the >> when we are down by 30 billion, 40 billion, 60 billion, 100 billion, trade were hurt them, not us. lauren: prospects for a global trade war after president trump's chief economic pfizer and proponent gary cohn resigns. lea: u.s. stock market futures down 400 points overnight. futures soared by 319 points. lauren: stocks in europe taking a look now. a fractional decline in london, but the cac down half of 1%. lea: asia stocks also ended

lower. china's shanghai composite over half of a percent. lauren: a new nor'easter slams the east coast. meteorologists janice dean is coming up with the forecasts. lea: how much is the richest man on planet earth now worth? i don't know. we will tell you later. "fbn:am" starts right now. 5:01 a.m. in new york on wednesday march 7th 164 cheryl casone. lauren: more money than you can even imagine. i don't know if we can even say the number. lea: a good number for him. lauren: we are watching dow futures tumble after top white house economic adviser gary cohn

announced his resignation. he resignation. he's leaving resignation. he is leaving unfriendly terms based on statement saying it's been an honor to serve my country and enact progrowth policies in the passage of historic tax reform grateful to the president for giving this opportunity and wish him and the administration great success in the future. president trump issuing this statement. kerry has been the chief economic adviser and done a superb job in driving our agenda hoping to deliver historic tax cut and unleash the economy once again. he's a rare talent and i thank him for his dedicated service to the american people. train to the president sent a letter saying will he be making a decision soon on the appointment of chief economic advisor? many people want the job. will choose wisely. helped usher in the progrowth policies, but he's been opposing the plan to steel and aluminum. white house officials say the

exact approach or date hasn't been determined yet but is expected to be a few weeks from now. for more on this, treasury secretary steve mnuchin will be on "mornings with maria" appeared lauren: kaltbaum capital management gary kaltbaum and mark wyche and failed. good to see both of you. let me begin with you, gary. investors like gary cohn. you has to cohn. who has the president here at this moment? >> the worry is the president here is with protectionism right now. i don't think the market will like that. you're seeing it today. terrorists are not a good thing even though the president says it is and there is some worry, talk about larry kudlow, council of economic advisers chairman

kevin hasek to take over. they go towards protectionism in a market that's hurting a little bit of trouble here because we are losing the moderate in the administration. lauren: we are seeing risk in the administration. one side the global is fine enough, on the other side you have america first, peter navarro if you will. how do you see this playing out? who's going to moderate at this point? >> that is what wall street is so worried about. it certainly seems like peter navarro won the battle and had the the president here, so i wouldn't be shocked if he instead being the person very influential going forward. it's so hard to determine who the person is going to be a not so wall street is concerned about. >> reducing volatility this year. we are seeing it right now. features down over 400 points

overnight. now down 300. is this because the insurgency, who becomes the top economic adviser, the this is more of a sure sign that tariffs are going through and five at 25% tariff on steel, 10% on aluminum. >> not just about that, but will it get worse from here? protectionism is a bad thing. you used the word uncertainty. markets hate uncertainty. they always have and they always will. we had a big run into january, so we are due for a correction. if you want a bigger correction than we normally can't, we are going that route at this point in time and you've seen over the last week what happens when you talk about trade wars are good. they are not good. it's the worst possible scenario for market moving forward because of the uncertainty of who is next. we already heard about genes

inferred then another things that other countries are going to look at. every country will act in their best interests, not in ours. president trump needs to take a step back and realize this is more harm than help if he continues this row. i don't know peter navarro but if they go full protection is immunized will knock another thousand plus points off the market here. lauren: that is a scary thought and that brings me back to the first question, who has the president's ear, who has the moderating influence? larry kudlow, conservative peter navarro adviser on the campaign. jason miller, david irvine worked in the campaign. any of those names sound like someone that could moderate the instincts of the president.

they said mr. trump's increasingly damaging his playing rant right now. >> i don't know if any of those could moderate the president stands on tariffs or any economic policy. that is that the market is concerned about is kerry pointed out another 1000-point drop if the terror situation doesn't straighten itself out. one thing important to remember if you're a long-term investor is markets go up over the long term and whether it had good presidents come and bad presidents, terrorists, all economic policy wars, markets to go. we could get a significant direction even if things continue to go in the same direction. over the long term investors are just fine. trade tracey worried about this right now. you seem to be worried we could see it trade war.

our investors certainly felt comfortable with mr. cohn. lea: more bad news for the embattled weinstein company. could've saved assets has collapsed. lauren: tracee carrasco with more news. >> the weinstein co. headed towards bankruptcy after his would-be buyer would withdraw from the deal. the group organized by ron brooklyn led by businesswoman maria contrail suite gave information about the viability of completing the transaction. "the wall street journal" reporting some $65 million of additional liabilities. in a statement the weinstein co.'s board called the new information and excuse instead it has been transparent about its dire financial conditions. lea: they're expecting 1.7 million on tuesday to be

wired, so this is not a good position to be in right now. lauren: we heard this term at the oscars. >> sunday night's oscars at the acceptance speech, she called for an inclusion writer, which is a sentence in a congress where actors and actresses can require hiring a diverse cast and crew. netflix has responded with no interest, saying we are not so big on doing everything through agreements. we are trying to do things creatively. we'd rather have a staff with filmmakers about how many women and people of color working on a project before shooting begins. lea: let's talk about this. lauren and i want to see the richest people on earth come as people on earth, so we're wondering what's up with tape. >> that is going to take quite a bit. something you might have to take up with jeff bezos.

it would take a combined wealth of 2.3 million americans to make the $127 billion is now estimated to be worth. he took the top spot on ford for the first time ever with a net worth of $112 billion at the end of 2017. he surpassed microsoft cofounder bill gates of berkshire hathaway, ceo warren buffett. you have to collect a lot of people. lauren: i'm not surprised, though. look at what it's worth right now for 2017 considering all the deals in the news on amazon. lea: she's america's only expensive billionaire. i like that word. thousands unfortunately still without power after last week's

nor'easter. another one is slamming the northeast. janice dean will be outside and just today. attorney general jeff sessions to make a major announcement in california. jerry brown certainly not happy about that. investors not happy about this although the situation is looking a little better. dow futures down 270 points much better than they were just moments ago. we will be right back on "fbn:am." the new -- ♪ thy armor was forged by a feeble-fingered peasant woman... your mom! as long as hecklers love to heckle, you can count on geico saving folks money. boring! fifteen minutes could save you fifteen percent or more on car insurance.

lea: welcome back. let's take a look at stock market futures have of the opening bell. 264 points right now. a singular by 21. nasdaq futures lower by 48. the justice department teaming up to showdown a sanctuary cities. the doj is suing california over laws that extend protection for immigrants to the united states illegally. the lawsuit says the laws hamstring immigration authorities in that they are unconstitutional. jeff sessions will announce a lawsuit today at 11:00 a.m. eastern time. fax business will provide live coverage of that. senior white house adviser jared kushner is headed to mexico after it called off the meeting because of disagreements about the funding of a border wall. kushner will meet with henry k.

pdf go to discuss immigration as well as nafta and trade. two survivors of the park with school shooting planning to file lawsuits against the school district and against broward county sheriff's department. anthony boris was shot five times while trying to save his classmates. he claimed both agencies failed to protect students during that attack. he remained hospitalized and is still unable to walk. a second survivor is planning to sue the fbi and florida department of children and families are failing to act on tips about the gunman. he is recovering at home. tree into a lot of mistakes made. other top stories this morning. the weather come a second research striking within a weeks time. 200,000 people still in the dark with high winds and whiteout conditions expected today. lea: the powerful winter storm slamming into the east coast as we speak.

senior meteorologist janice dean here at the very latest. she's standing outside in the middle of it. reporter: one, two, three, the groundhog was right. seeing a mixture of rain and also some snowflakes and that will be the case until we get into later morning hours and into the afternoon for xml snow event for new york city and west of new york city. east end area like long island will be more observing events to cut back on the snow totals. be nice to your local forecasters. this is a really hard forecast because of the snow line in the winter storm warnings in effect for the delmar towards maine in new york city. reporting mike snow, 34 in new york and been reported in philadelphia. we are expecting a rain, snow mix as we go through the

afternoon. there's a future radar. the forecast model shows and all snow event the morning and the afternoon hours for new york city and that means we could easily get 48 inches of snow, some especially west of the area of new york. lower hudson valley might have to chat pod in 12 to 18 inches of snow. this won't be the rain event that we saw, rather the wind event we saw this past weekend. a lot of folks of power across the northeast. winds will be around 40 to 50 miles per hour, potentially power outages along the northeast but not the 80 per mile hour winds. coastal flooding concerns come at a beach erosion in the big story will be the northeast today for travel. a lot of delays and cancellations. if school is closed, follow all the orders and local officials. be nice to local forecasters trying their best to get this one right, but the rain snow line is really going to mean the

difference between a lot of snow and maybe not as much snow. lea: people will be more rain than snow if you could flip that switch we appreciate it. reporter: i wish i had that power. lea: president donald trump to talk about giving up nuclear weapons. let's listen. >> we are going to see. they seem to be acting positively, but we will see. tree into a major breakthrough? not sure about that. keeping a close eye on markets by the resignation of raising the risk of a global trade war. they locate u.s. stock market futures. dow futures lower by 254 points. s&p lower by 41, nasdaq lower by 47. you are watching "fbn:am." ♪

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lea: the u.s. for acting to north korea reportedly open the door to negotiations. according to south korean officials, kim jong un willing to be in top with the united states on giving up nuclear weapons. president trump grieving her progress and healthy skepticism. >> we have come certainly a long way, at least rhetorically with north korea. these are the cards we were dealt. we are handling it properly. as i said, hopefully we'll go in the peaceful, beautiful path. we are prepared to go whichever path is necessary. one way or the other we have to do something. trade you for more on this command respect child, nice to see you this morning, bruce.

>> hello, great to be back on "fbn:am." lea: thanks for being here. it is widely known among experts on north korea and widely expected that north korea and kim jong un will never give up his nuclear weapons that can hit the united states. what is his play in making this overture? >> this may be déjà vu all over again. the president has said he skeptically watching this, hoping it will work out well. i'm sure he's been told the same thing about to tell you, which is backing 2007 we had a deal with the north koreans. they were going to dismantle, not freeze their nuclear program. he even wrote in my book in 2007 that it was doomed to fail and felt exactly as i thought it would. when the north koreans actually had to verify that they were dismantling their programs come and they found a way to walk away from the talks.

in 2008 the talks fell apart completely in a few months later they popped a nuke during the obama administration. this time it's very important that we actually have been transparently under inspection dismantle their nuclear weapons before we come in the united states and our allies make any of our confidence building. lea: that's a big question whether they would allow inspectors to come in and do the verification to such a closed off country. i want to ask this. north korea has said it might hold off and doing further weapons tests. a potential strategy for the united states to get these negotiations and slow well done, to slow the development of ballistic missiles and nuclear weapons in north korea? >> that is certainly part of a good strategy. several things we need to make sure we are still doing. in other words, we need to be maintaining sanctions against

north korea and sanction like it committees such that the treasury department is pictured at 311. we also need to continue to maintain high readiness and maintenance of our forces protecting allies in south korea appeared in other words, we don't want to stop doing exercises with allies in south korea. this may be something north koreans will ask for. in other words, no doubt when we do start talking to them, and they will demand some of the things we do in order for them to dismantle their weapons if that's what they say they'll do will stop doing exercises by south korean allies and lift the sanctions that are currently on them. very important that we are careful to make sure we see them make transparent confidence building measures before we take such major moves like that. >> you mentioned the u.s. exercise coming up in the spring and usually we hear that from

kim jong un. we are not hearing that right now. i want to ask you this. if the u.s. were to come to the negotiation table from you mentioned thoughts that might come out for the north. do you think the north might make demands that the u.s. move its troops out of the korean peninsula? i absolutely think that's very likely has an eventuality. north korea's number one goal is unification or domination of the grand peninsula. the only way they can do that is by moving u.s. troops off the peninsula because of all the great and savoring to the alliance to protect our allies and then toward the north koreans from attacking. if that doesn't come up right away, it's eventually going to come out. in other words if they dismantle nuclear weapons, but she won us to dismantle ballistic missiles, you have to set a timeline for moving u.s. troops off the

peninsula. lea: that is something the u.s. military would consider to not be an option. thank you for your opinion. perspective all, thanks for coming. >> thanks for having me. lauren: he's so cheery, even with that subject. why are nearly half of americans at risk of retiring breaux? if you are not at risk him he might want to check this out. range rover's new ride in his $300,000 price tag. let's show you the features. how futures. how are we shaping up this morning? dow down 274 in the nation of chief economic adviser gary cohn. ♪ liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat

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30 billion, 40 billion, 60 billion, 100 million, and her status -- them, not us. lauren: global trade war heats up as president trump gary cohn resigns. lea: u.s. stock market futures down overnight. dow futures lower by 264. vestibular by 21. nasdaq futures lower by 48. lauren: checking out european stocks. now higher by a 10th of 1% but we do have declined in france and germany. >> japan's nikkei down three quarters of a percentage point and china come in the shanghai composite down half a percent. >> tracking the new nor'easter with the latest forecast for you. >> old tech versus new tech is blackberry suit facebook for allegedly stealing his messaging type elegy. "fbn:am" continues right now.

5:31 a.m. here in new york. when day, march 7th. good morning. and lea gabrielle in for cheryl casone. lauren: i lauren simonetti. let's get to our top story because when this broke last night, everybody was in no way surprised them and others not so much. the chief economic advisor gary cohn resigning and more fears of a possible trade war. what are the political ramifications president trump now faces of all of this? democratic strategist john callaway. good morning. >> good morning, new york. how are you all? >> we are dealing with whether that's about to be coming in and the storm in the white house brewing as well.

let's begin with gary cohn. how big of a lawsuit sea to the the administration and policies of the u.s.? >> a pretty big loss for two reasons. you have to remember gary was cohn and ceo of goldman sachs, the world's most prestigious, fundamentally a traitor. markets see was what he sees and they know that the tariffs could present a problem in our react into it. secondly, is a registered democrat took off from a prestigious job to serve this administration in a patriotic move i commend him for. this is a nonpartisan move. this is a move fundamentally reject being these tariffs in this policy upon which he was not consulted by this president and not aligned. the markets are reacting in a way for they see a reasonable guy who stepped out of his political alliance to step away from a position like this. it's a very serious note and shows the white house is not in sync with the rest of the global

marketplace. tranter we saw futures down less than 300 points. i don't wanted minimized the come of it this year seen a lot worse. i'm curious to see if this gets worse before it gets better. john, let me bring you in your talk about political ramifications. have you see this playing out in the elections? >> is a lot of talk about the split in the republican party over this issue. i want to make clear it's not the case. in 2016, president trump campaign on america first policies and 16 other candidates in the race that he beat them pretty handily. he won an electoral landslide against hillary clinton. the politics are being overblown. lauren: really? >> i do. everybody's trying to talk about this big split. this is a president trump campaign done. he's delivering on promises. this is his mojo. looking out for the american worker and something we should expect from him.

lauren: her point is the american people knew this is what we were getting from then candidate trumpet now president trump, but if you look at establishment republicans, there is a split in the republican party. that's the way i see it. we will see who replaces cohn. we have a special congressional race in pennsylvania next week. democrat and republican spare, this is steel country, so this works for them. they are not anti-proposed tariffs, but if you look at the possible effects on this downstream coming together industry is affected, this might be bad for the midterm elections. >> i represent several american manufacturers in washington d.c. and a substantial split with elected republicans in congress. they are not happy because this had american manufacturers in result of these terrorists.

there is a way to be america first for manufacturers without providing tariffs across american jobs. frankly, i don't know how this will affect the midterm election. at the end of the day there is a long time, nine months that we have left, to really fight this thing out. that's a long time in american politics. i don't think this will rise to electoral differences. this is a referendum on president trump flat president trump flat in simple and we will see how it works out in the pennsylvania district. >> how does this play out on the world stage, thinking of the meeting was speeded and everything going on with south korea. >> you know, at the end of the day, we will always have a situation when you make change with the president of the united states tries to make change. if various reactions that a lot of countries don't like.

a long time since we put america first we had an actual national security and trade policy designed around that. there will be some pushback be some push back on it, but that's not president trump's concern. the american worker and that's what it's all about. lauren: good to see you both. thank you very much. lea: dear member blackberry? i loved my lap. suing facebook for allegedly stealing some of their messenger features. anyway, can you explain this, what headlines we're following? >> but very claimed in a lawsuit that facebook, blackberry and instagram has stolen from the technology. in a statement, we have a lot of respect for facebook, some of which were invented by blackberry. however, we have a strong claim

that facebook has fringed on our property and after several years of dialogue we have an obligation to pursue appropriate legal remedies. here is how facebook responded saying blackberry sadly reflects the current state of his business had been abandoned and looking attacks the innovation of others we intend to fight. we'll see how this plays out. >> a new survey that's been bothering me all morning. you work hard and expect to enjoy your golden years. retirees are in bad shape. worse than we thought. >> about 42% of americans have less than $10,000 saved for their retirement right now. this is in accordance to the survey of 1000 people and found that the main reasons why people didn't earn enough money to save and they were already struggling to pay their bills.

of course, this is really tough as the life expectancy is much longer. people not saving as much fits their retirement dreams into perspective. is that the reality? the take away here is never too early or too late to start saving something. >> no one else are the ones that are more likely that less than $10,000 saved. they have some time to figure it out. lauren: will be right here. train to either go buy a house in the suburbs or a range rover. >> said the range rover at the geneva auto show is billed as the world's first full-size luxury suv. it's only got two doors. the fastest range rover to date going zero to 60 in five seconds. top speed 165 miles per hour.

this is a limited edition, 909 deaths have asked me aside. $295,000. if you want to take a look at it coming you can see the otter show at the javits center here in new york city. >> it has these ultra shares, which i think is more comfortable. lauren: thank you very much. the weather in the latest in the nor'easter bearing down and it's like a spy thriller just in my life. according to officials, warning moscow about possible poisoning seven x russian spy. literature markets this morning down 282 points. that's a 1% selloff. so in this commercial

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lea: to save the current state of emergency this morning as another huge winter storm prepares to play in the northeast. lauren: lorin blanchard live on the plaza with the details. how's it looking this morning? >> this nasty wintry make starting to come down here in new york city, but the real snowfall expected later on. up to eight inches here, up to

18 inches elsewhere on the east coast but that massive coastal winter storm. he has declared a state of emergency to make sure they had to pause and crews ready once the weather heads. here in europe the governors telling people if they don't need to travel today, stay off the road, stay home. places like this, and massachusetts had made nor'easter last week and still trying to recover from that storm. hundreds of thousands along the east coast still without power in the new storm could bring even more trouble to some of those really hard-hit places. this term has been shifting from west to east. snow already falling in minneapolis, south dakota and pennsylvania. we are looking at heavy, wet snow has two or three inches an hour in some places and gusting winds and we will see the travel delays we saw last week already

seen 1900 flights have been canceled in 2600 delayed. they cut service to a lot of areas up and down the northeast corridor. >> a good day to stay home and drink hot chocolate. lea: let's take a look at the other headlines happening now. gop calls for a second special counsel to look into the alleged spies that abusers. trey gowdy and bob goodlatte claiming new evidence against the trump campaign and 13 house republicans and was of the utmost importance. to retaliate for poisoning the russian intelligence officer. the russian colonel and his daughter remain in critical condition after they were found unconscious on a bench outside the shopping mall in salisbury,

england. the counterterrorism force has taken over the investigation from local police. here is some irony for you. police in virginia with video that alleged a drunk driver getting hit by his own car. fairfax county police tried pulling the man over for an equipment violation. in the video you can see the man jumping out of his car and trying to run off, but he forgets to put the car in park. everyone was kind of laughing in the studio. unfortunately, he gets run over. he was unharmed. but the good news. don't drink and drive. trade to me jump out of your car and decide to run, make sure you don't run in front of your car. coming up in sports, why is bill murray going crazy over college basketball game? jared max will have that story and it's going to be after white house chief economic adviser

resigned over the controversial tariffs. let's look a u.s. stock market futures over 298 points. s&p down 24. you are watching "fbn:am." we will be right back. it was my very first car accident. i called usaa and the first thing they asked was 'are you ok?'

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lauren: five more men's basketball teams in the ncaa devil -- ncaa tournament. lea: jared max at the highlights. in jackson they are partying like it's 1999. championship game at the cologne authentic association fell

behind northeastern by 17 points for the second half, but the cougars began to scratch their way back. chipped away from 42.25 and forced overtime. and then. legendary comedian bill murray is here. >> baby steps past northeastern into the bracket. the way to bill murray's vocal team. northeastern and overtime to advance to the ncaa first-time partying in there like it's 1999. last time they made the tournament. since i ago at wcc south dakota state. brooklyn to the northeast conference title game. the horizon league final. congratulations to the houston rockets. they became the first team to

reach 15 wins. james harden scored 23. chris paul had many trees. es cp three. houston made oklahoma city by 10. you are now 16, going on 17. credited with helping saving the life of a 72-year-old man last week in colorado. hiking with his brothers and friends at castle rock they witnessed him in fall 20 feet onto a rock. they say the man. it was perfect timing where they were. if you ask a football fan, could you name one referee in the nfl? the one named more than any other is that huckabee. the nfl with 26 seasons known for his rippling physique and long explanations to penalties. his son john is also retiring

from the nfl. 67 years old. "game of thrones" character does and just pretend to be a terrifying warrior on the screen. he says the new deadlifts world record 1041 pounds at the 28th team arnold strongman classic. lauren: that's it? how is that even possible. >> and it was like he could've gone more. take a field goal kicker kicking went from 60 could've gone 70. he wakes up the next morning, why does my neck hurt? why does my body hurt? lea: i'm not sure that's good for healthy aging. jared max, thank you. fox news headlines 24/7. xm channel 115. bourbon, harleys all gearing up for a trade war with london. that is up next.

lea: president trump following criticism from allies including european union. american products like bourbon, levi's and harleys are the first to be hit with retaliatory tariffs. mike was using his chief market

analyst. nice to see you this morning. >> good morning. lea: what are you hearing there this morning? >> it's actually been a fairly sanguine action when we open first thing. we pulled back a great deal of those losses and ultimately what is happening as investors are playing in seeing your replaces gary cohn. they are concerned it could be replaced by a much more. hopper has cropped up. obviously he's been quite vocal in terms. the markets are a little bit nervous. we've seen a little bit of flows into safe haven currencies, but ultimately, markets at the moment are adopting a wait-and-see approach to what happens next. lea: you don't think they're too worried about the fact we could have more of a trade hawk, america first person in

president trump? >> european markets are underestimating we could see an escalation ahead of the weekend. it is very worrying because they've lost the argument. we can see a significant turnaround. abstract that affect u.s. markets up to significantly lower. european markets don't seem too concerned at the moment. lauren: that is the key word. thank you very much. at the moment. london is higher at the moment. thank you for joining us on "fbn:am." lea: nice to be with all of you. we'll handed over to "mornings with maria." >> happy wednesday to you. thanks for joining us this morning. already maria bartiromo. when day, march 7. 6:00 a.m. on the east coast. gary cohn is out. president trump's top economic adviser resigns after losing the battle over tariffs.

the president touted how much people love working in his white house during a news conference yesterday. >> it is a great place to be working. many, many people don't want to work for trump. believe me, everybody wants to work in the white house. they all want a piece of the oval office, piece of the west wing and they love this white house because we have energy like rarely before. maria: and yet, cohn has departed taking a toll on markets pointing to a sharp selloff on the news cohn is stepping down. some are worried they will take a tougher more protectionist position on trade. the s&p 500 and the nasdaq posting gains for third straight session. nasdaq was up one half of 1%.

in europe the markets are lower as well taking a cue from the u.s. now. dax index down half of a percent. in asia overnight, across-the-board with the hang seng index down better than 1%. the justice department taken his immigration fight to california. jeff sessions is doing this date over the sanctuary city laws. no deal, to acquire the weinstein company asset. the debt concerns that the potential buyers reeling. target employees rejoicing as the company raises minimum wage. offers a new wardrobe, how the company is cutting them some slack just had. joining me to talk all about it, fox business network dagen mcdowell. benchmarks ranging kevin kelly. and miniature shell. good to see you.