i promised a conversation with my lady in the neighborhood. i wish fighting animal crueltiy was a bipartisan issue. and she goes it's trump. and i went, ma'am, it was a problem before president trump. who are you going to blame when he's gone for all of your problems? maria: resist of getting old. here's stuart varney. stuart: what was that? resist getting old. yes, ma'am. maria: well, resist is getting old, stu. do you have a proposal on anything other than just resist? . stuart: yes, but the alternative to old sage a just is death. that was quite a transition, maria. we should do this more often. maria: yes, and it was natural. take it away, stu. stuart: fresh out of the box. new week. new quarter. the president comes out swinging. good monday morning, everyone. in a flurry of tweets, president trump took aim at the mess at the border. he says the border patrol can't do its job because of quote ridiculous liberal laws alike catch and release.

now, there's a development over the weekend, and it serves as the backdrop to the president's comments. a caravan of migrants from central america traveling through mexico or headed that way and headed for the border. they're being supported by activist groups. they intend to cross our southern border, claim asylum, they will be caught and released. the president is really not happy about this. another tweet from the president demanded that the republicans go to the "nuclear option." that means end the filibuster rule and go to the 51 vote majority as the president says to pass tough laws. it is an aggressive president trump this monday morning. what's new? some major league developments in the corporate world and now the market will be passing judgment, number one. walmart considering buying humanna, the health care insurer. this would be soup to nuts health care. watch the stock go up 6% right now. number two, tesla. massive recall of model s cars

and the admission that the autopilot system was turned on during a fatal accident. down it goes. the president again goes after amazon. he did it last week as well. the stock tumbled last week down 23 bucks, 24 bucks as of right now. one more. another major data breach. lauren taylor and tax customers stolen. their parent company. monday, april 2nd, and it's snowing in new york. yeah, "varney & company" is about to begin. ♪ ♪ ♪ . stuart: okay. you hear that? i wish i could say it was an april fool's joke we're playing on you, but i can't tell you that. there's a snow storm, and it has hit us. that view moments ago, that is

outside our windows on 6th avenue new york city. it's like a blizzard company. look at that. april the 2nd. ashley: i want my money back. who do i see? do i go to the chamber of commerce and say come on. it's ridiculous. it was a tough journey in this morning. i come in around 5:30 and the roads were out in connecticut at least a couple of inches. going down steep hills. white knuckling it. i was, like, this is ridiculous. stuart: you come in at 5:30? ashley: yes. stuart: you slacker. it will pass. ashley: that's what they said last time. stuart: let's get serious and talk about your money, shall we? where's that market going to open? down, by the way. the market is coming off its worst month in two and a half years. we're down triple digit digits in the early going this morning. it looks like it's china tariffs that may be a drag today. back to tesla, big story last week with that massive recall. look at tesla now off another

$9, 3.5%. back to 257. just look at this. elon musk tweeting an april fool's joke. here it is. quote. tesla goes bankrupt. palo alto, california. april 1st, 2018. despite intense efforts easter eggs, we're sad to report that tesla has gone completely and totally bankrupt. so bankrupt, you can't believe it. that was an april fool's joke. ashley: maybe not good timing on that one. stuart: bad timing i would say. peter morici with us. some investors don't find that funny because there is indeed speculation in the market that it's all over for tesla. what say you. >> tesla is running out of money. it hasn't figured out how to make cars at a profit, and it's not likely to do so soon because it hasn't figured out how to make cars period. and essentially they've taken on too many different things. he has to build solar panels on roofs, which he's doing.

when his mission was to build an economically efficient electric car, and he has failed to do that. so frankly, the company's kaput. stuart: oh, strong stuff from morici first thing in the morning. okay. the president's gone after amazon again. while we're on the subject, it is reported that the u.s. post office will lose a buck 50 for each package they ship of amazon. that amounts to billions of dollars. peter, when the president attacks you, your stock goes down. but do you think amazon's in trouble. >> no. i don't think amazon's in trouble. i think it's on sound footing. the bottom line is the post office has to deliver six days a week to every address in america. that is a losing money proposition. by carrying packages for amazon, ups, fedex, whatever, basically reduces those losses. and that's a good thing. if it wasn't for amazon and the others, the post office losses would be mammoth and the taxpayers would've to bail

it out. stuart: okay. walmart reportedly considering a deal with a humanna. now, if they get together, does that mean lower prices and more efficiency? what do you think? >> no. i don't think walmart knows anything about running a health care company, and i don't think it's going to learn any time soon. i'm wondering if walmart has hired elon musk about entrepreneurship. the basic idea about getting some kind of health care provider into your system, you know, prescription drugs, whatever, is to draw people into the stores more often. that cvs with these minute clinics and things like that. this doesn't make any sense. there's a lack of synergism. walmart's going to highly leverage to do this. i don't think this is a smart move. this is an example of me tooism. the drug retailers are consolidating, so somehow or another walmart think so it has to follow the same. i don't think it's bright at all. stuart: we're still trying to recover from your comment that tesla is kaput, but we'll move

on from that, peter. you start out sharp edge this morning. >> well, you didn't have a lot of great news. all of your opening stories were negative. black friday getting started. come on. remember, this is america. there's supposed to be a future here. stuart: okay. love, peter. see you later. i'm going to switch to the china train. china confirms, yes, it is putting 15 maybe 20% tariff on american fruit, nuts, pork, and a total of 128 products. this is a response to president trump's tariffs. tim phillips is with us with americans for prosperity. if that was the counterpunch, $3 billion worth of tariffs against our $50 billion worth, didn't sound like it was a real powerful counterpunch from the chinese. what say you. >> i don't think anyone's benefiting, certainly not american consumers and the american agricultural sector from the tariffs and the trade wars elizabeth warren is talking big about how great

tariffs are as well. which is not ringing to have elizabeth warren of all people praising what you're doing. politicians get to thump the table and look tough but in the end, american businesses and politicians will pay the price. and this is the wrong way to go, stuart,. stuart: the position has been president trump takes a hard line stance right up front and negotiates from there. you think that's not happening that, in fact, it is a trade war, and we're in it, and you don't like it? >> we're starting to see the beginning of a trade war, which is what folks have been warning of. and, stuart, this always sounds so good. even back to the 1930s, a lot of politicians and folks think talk big using tariffs and trade wars. but the result is higher prices for consumers and american businesses getting hurt. we need to take a step at a different direction. free trade is never perfect. it's not in reality. but it's far better for folks than the alternative of trade wars and tariffs.

stuart: well, the market is going to open lower to the tune of 100 points on the dow. and you think the trade situation is getting worse. that's your opinion. >> we do. the market is reacting. it did so when these tariffs, when the threats were first made. i think we were on together that day, stuart, and the market took a significant dip, even on the threat of these. now that we're beginning to see the reality, some of these tariffs actually going into play and a trade war potentially developing, it is harming the market. we need a different direction. we don't have a partnership with the pacific rim right now. we need to start looking for a trade agreement there. free trade as much as possible. this other way is not the way to go, stuart. i'm telling you. it's not. stuart: i hear you. on a monday morning, i hear you. i've been accused of being very negative this morning. and i'm not. i've got a big smile. >> yeah, despite the snow there in new york.

stuart: thank you, tim. we appreciate you being with us this morning. thank you. where are we going to open today? we're going to be down about 100 points on the dow. but look at the nasdaq. down about 43 points. that means more losses for technology. we'll be watching them closely. china's rogue school bus-sized space station crashing into the pacific just off the coast of fiji. it was launched in 2011. china lost contact with it last year. it was supposed to land in michigan. that's what we heard. ashley: that was a bit of a miss there, wasn't it? . stuart: close to fiji, not michigan. ashley: some guy on his boat. stuart: migrants moving north of honduras toward the border. judge napolitano coming up next. hi, i'm bob harper,

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stuart: the government refuses to review the drug company's depression treatments. the government's telling the company conduct more clinical trials. a lack of evidence of its depression treatment effectiveness. that stock beaten up. down nearly 20% this morning. this is intriguing. the murder rate in london beat the murder rate in new york last month. why? ashley: first time ever, and it's a surge in deadly stabbings. stuart: stabbings? ashley: knife attacks. there were 15 murders compared to 14 in new york city. now, for the year, still more in new york but london is rapidly catching up. and, you know, there's 8.7 million people more in london. 8.5million in new york. so they're very similar. huge cities. large, diverse populations. but disturbingly, london has become far more violent when it comes to these knife attacks. stuart: wow. ashley: the crime rate in new york city, murder rate, that is, has dropped 90% since

1990. stuart: that's extraordinary. ashley: unbelievable. positive. stuart: president trump tweeting on immigration. first thing this morning. here's the quote. mexico has the absolute power not to let these large caravans of people into their country. they must stop them at their border, which they can do because their border laws work. not allow them to pass through into our country, which has no effective border laws. all rise, judge andrew napolitano is with us this morning. you're familiar with this. >> right. he's talking about serious reports with photographs. this is not just anybody's exaggeration. about 1,200 people. men, women, and children marching from central america. intending the march through mexico and entering the united states. and he's basically saying mexico can stop them. he's right. but mexico needs to stop them, stuart, before they enter mexico. because once they enter mexico, mexico's goal will be

just to push them out, and it doesn't care if it pushes them out its southern border or its northern border, which is us. stuart: so they march all the way through mexico and get to our southern border, let's suppose they do that. >> then the border patrol has to prevent these people from entering. i disagree with them. we have the laws. we may not have the resources because the republican congress didn't give the president the money that he wanted for the border. but we certainly have the laws to stop them from coming in. stuart: oh, wait a second. they walk across the border. one footrot border. they're not met by a border patrol agent who says get back. no, they're met by a border patrol agent who arrests them, they claim asylum, they're then taken away to a place for a couple of days and then told to return for their court appearance. >> and they don't return. that is not the law of the

labrador. that has been what the border patrol has been doing under barack obama and donald trump could change it with a phone call or pen to paper. it is a shorthand terminology for the way the obama people intentionally for political and ideological reasons instructed border patrol to greet these people. . stuart: so when they come across the border. >> they should be stopped. if donald trump wants to enforce law. i'm answering your question as a person who understands and explains the law. they should be stopped in mexico on the mexican side of the border. . stuart: well, they probably won't be. >> that is not the fault of the american law. that's the fault of the people who administer the american law. stuart: this reminds me of the european situation. >> the saints which it was a million people entering france. stuart: let's not get carried away here. all those migrants marched on europe and angela merkel said

let them in. >> right. she regrets that now. now,. stuart: if there's a whole army marching to our border, why can't we have our border patrol or army face them and say don't step across the line. >> i doubt that he would use the army. but the border patrol has sufficient person power and resources to do it. they do not have all the money they wanted because the republicans and the congress didn't give it to them and that monstrosity that the president signed two weeks ago but they have the ability and the laws to prevent them from coming in. stuart: everybody knows what the republicans want. no. stay out. you can't come in. but the democrats will invite them in. and if they get to california, they stay. >> if they get to california, they get free tuition, driver's license, everything. stuart: everything. and before you know where they are, they'll be voting. >> well, california's going to

succeed from the union when orange county succeeds from california. stuart: by the way, spreads to contracounty now. >> all the more these arguments for two states. northern california and southern. actually probably three. stuart: okay. we're out of time. >> all right. you've got it. stuart: another massive hack attack. get reports of this. ashley: every day. stuart: nobody seems to get, you know, cleaned out. the parent company of saks fifth avenue says millions of customers credit card number have been stolen by cyber criminals. details in a moment. we'll be back

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. stuart: data breach affecting millions of saks fifth avenue customers. christina. >> yes. thank you for that intro. stuart: welcome to fox business. >> thank you. stuart: this is your first appearance. >> well, first appearance with you. stuart: oh. >> that's why -- i should just really count it at my first appearance period because that's all that matters. stuart: oh, you're going to do well. >> i know. i know. i know. . stuart: okay. let's get serious. >> yeah. stuart: we're given the details 5 million customer accounts. who's doing it. >> according to gem knee,

which is a consulting firm, they look into cyber security, they're saying the russians are involved with it. the well-known russian hacking group called spin seven. and what they do is they have about 5 million credit and debit cards, and they're slowly starting to release them on the dark web. they haven't released all the numbers just yet and hudson bay company, which is the parent company of saks fifth avenue and lauren taylor, the department stores that have been hit says right now they're looking into the matter. but customers don't worry, they think your social security card as well as your driver's license -- exactly. they can't guarantee it. they think it's safe. stuart: look at that on the screen. target, 40 million, home depot. >> 56 million. you have tj maxx, 46 million. equifax 146 million. i know you spoke about my fitness pals at under armour. stuart: have all of our information. surely, isn't that the case. >> a lot of them do, yes.

but you said offset that maybe they're not hitting you or you're not encountering any type of situations like that. they have the information, but they're not doing anything with it. it's valuable information that's being sold on the dark web. they immediately go and try to -- especially wealthier customers because they don't even notice these high end electronics or designer shoes that are on their bills. that's the reason, which is why a store like lauren taylor as well as saks fifth avenue is perfect for hackers. stuart: that's very interesting. they got the information, so they pick on maybe wealthy customers. an extra pair of shoes. they won't notice. stuart: would you notice? . stuart: oh, yes. the fine initial performance. you want to come back for more? okay. you're on. >> yes, i do. stuart: thank you very much, indeed. where are we going to open that market? be down 120 odd points. we're told china is the trade for the market this morning. when we come back with us.

you'll see the opening of the ms

now, we're coming off not a very good quarter for the stock market, in fact, it was the worst with quarter what was it two and a half years something like that. okay with so we start a new quarter this week a new week new quarter an we actually expect to

open on the downside. but i'm going to repeat the caution which we offered every days last had quarter which is -- i can tell you how it's going to open. i haven't a clue how it is close that's the truth. 9:30 eastern time monday april the 2nd snowing in new york. but so what the market is down at the opening bell. off 30, 40, 47, 62 points down, 64 points down. 65 do i hear -- 83. [laughter] >> no -- no. no we're down 50 okay leave it at this for this second that's a quarter percent down for the dow industrials. how about the s&p is there a similar decline there a yes pronounced down .4% that's 11 lower for the s&p and now important one. the nasdaq the downside move has been concentrated in technology stocks nasdaq is a technology indicator. and it is down more than the dow or the s&p. you're down about what .7.as we

spoke a 49 point loss you better take a look at tesla. it is down this morning. nearly 4% $10 down, elon musk tweeted the bankruptcy april fools joke. that did not work. there's more to that than the downside movement just april fools joke but it is down. how about a.m. horizontal the president has gone of a him yet again and oh they're it on the chin again down $27 on amazon 1419 is the price. wal-mart teaming up with humana may be may be just a maybe at this point. you can call this maybe had the amazon effect. we've got humana up 13 dollars. that's nearly 5% wal-mart is down a buck 40. 1.5% the market doesn't care for that if all right monday morning look who is here all star cast himself -- ash webster is us i believe elizabeth comes back very soon. okay. jeff seeger is with us and james

freeman wall street journal editorial kind of guy. in a financial times that's the -- that's the pink paper okay if you don't -- they are saying that the big tech names have lost more than a quarter trillion dollars in market value since the facebook two weeks ago that's a quarter trillion dollars down. jeff seeger -- you don't particularly like anything these days do you like these beatsen down? >> i like a lot of things but not big text right now because this is the problem that i've had the market since -- since text took over leadership. is that market has been so dependent on the tech titans an now you have the facebook problem. which is -- to me monumental. the amazon problem, so when you have stocks that are priced to perfection as these are, they go under microscope and when they do they tend to find fault when they find fault you take a stock like facebook, the number two stock for all of hedge funds you

could believe that a lot of these hedge funds are going to be selling massive amounts of facebook because of what they have going on. i would not touch this sector. >> pretty dramatic stuffing right there as we used to it from jeff happy easter to you. now look at tesla. it was -- been a rough time for tesla. and it is a rough day today. it is down another 4%. there's speculation on wall street that this company could collapse in a matter of months that's the word they use. collapse. now, james elon musk comes out with what a what they thought was april fools joke about bankruptcy. that didn't go over very well. do you think this company is close to -- collapsing is? >> well i think joke was a little too close for comfort you mentioned recent trouble both in the stock and bond trading for tesla. bonds have been downgraded, this company needs to constantly borrow money to -- fulfill the vision of elon musk and questionses about whether

they can execute i think, you know, maybe -- maybe april fools humor is concern is better with something where there's less at stake i think he has a problem in terms of convincing people to execute to make money and it's not just about government subsidies that there's a really business here that's going to challenge the incumbent. >> better produce cars and make a profit at some point -- so more money of his way back. >> back moody downgraded debt to junk and automickers need to rely on money, and junk gets expensive borrow more money. >> down 11 now. keep in mind now, elon musk he's either the most think he's the most self-important person alive or he's already gone to mars. that's his plan. but here, if i were a share hold orer thank god i am not. i would be so, so annoyed at that comment. because what james says is true, eight billion 9 billion in debt only chance of survival for --

for tesla is if e elon muck convincing wall street that he is the guru everybody made him out to be. very bad. >> let's get to amazon. because president trump is still going after him. he said in a tweet, the post office loses a buck 50 for every package he delivers for amazon. so you're an amazon kind of guy but look falling of bed today down 31. >> well keep in mind president trump is the -- he wrote the art of the deal. amazon made a very, very good deal with the post office and last i heard the u.s. government has some influence over the u.s. post office and if they want to renegotiate, they can. you can't be on them for negotiating a good deal. >> nothing to do with -- amazon if they're losing with their massive -- health and pension benefits the system actually that buried them without amazon post office would be nothing. >> well i see going down

further. look at now we're down 39, 40 per share on amazon. very close to breaking below 1400. >> what point do you jump in? >> great. or do you? you jump in there, james? >> i don't i don't know about t. i wish the government would just stop helping them how about that? don't prosecute them. you remember during the obama years the government used the antitrust division of the justice department to protect amazon from competition from apple so how about just getting out of the way. stop subsidizing through the postal service and just let them -- let the market do it. let nature take its course. i wanted to get some comment on the possible deal between wal-mart and humana this story broke last friday when the markets ftion closed now the market is open. so you've got market reaction. doesn't like wal-mart down a buck 50 that's nearly -- >> maurice didn't like it and humana is up 6.5%. 17. so can anybody define for me

james what's -- what's wal-mart's problem here? i would have thought that it would be doing okay. >> they're looking for growth beyond their traditional businesses which especially given their size it is hard to grow that we cannily and you mention amazon threat both in fact traditional business and in health care. i think this is a reminder that 8 years after the enactment of obamacare people really still looking for an answer to how do you make health care affordable. and i think -- sorry wal-mart is looking at this. they already are -- largest private employer in the country so they buy a lot of health care. they've become expert at getting deals for their own employees. they, obviously, are are big thousands of pharmacies but big in a part of the health care market. so they're thinking now, why not go further. why couldn't wal-mart be the place you go not only for the -- normal groceries but also health insurance and they have a lot of expertise in that area. >> pay attention to the big board because we've a complete recovery we thought we were going to open about 100, in fact, just brought to a basic no

change -- we're down two points but 24,101. i love to show you bitcoin. let me do that or for you because we're down to 7,000 a coin. way down today. that's a loss of 1,536 right there. underarmour said that someone hacked into data from one of its fitness tracking apps late last month. affecting 150 million users on its my fitness pal platform the news broke friday. market was closed friday. this is the first opportunity for invest or force to pass judgment and they're down 1.5% not a huge loss there. another data breach to tell you about. millions of saks fifth avenue and lord and taylor customers affected. there's no stopping these hackers is there? >> no, for something for this -- for hackers to be able to infiltrate hundreds of millions of personal client information to me is very alarming. but what it also shows is these

retailers are not taking cybersecurity as seriously as they should. they need to it make it their top priority because it's -- there's a whole black market for this information. and this information trades like a stock market out there. and it's getting bigger and bigger and the cyberthiefs are getting more and more -- integrated into our lives and it's very dangerous it needs to be a priority. >> let's talk trade for a second. china has answer ad president trump's tariffs with tariffs of their own. on 128 different products adding up to about $3 billion. james, i didn't think that china's counterpunch was as powerful as a president trump's opening gamut with $50 billion worth. so i'm trying to suggest maybe this is not a full blown trade war but it's made out to be -- >> but i think that's the hope they hit agricultural products. this is a -- a negative for growth. but i think what you would hope is that this is evolving into a

more focused -- case against china and theft of intek chul property. that we're still, obviously, the steel and aluminum are not about that. but -- i would hope that the administration instead of wanting trade disputes would wie entire world focuses on what i think should be the real problem and you see that bringing the case to the wto as far as china stealing american technology. >> okay. look that time already. 9:40 on a monday morning. i've got to say good-bye to jeff seeger and to what's her name again -- [laughter] have i got nerve or what? james he's a good man. right editorials or for "the wall street journal" and i read them all of the time. >> appreciate it. >> and i'm the one who is blushing. james, jeff, thank you so much. check that big board this is a minor league it is loss. 15 points lower 24,087.

you said why are we downs in the premarket it can't be this china trade concern. look what's happened? >> we're back to a minus 14 that's it. a south korean pop group, putting on a concert in pyongyang that is the capital of north korea. kim jong-un that is wife attended the show looks like another sign -- this diplomatic progress or what? we'll discuss it and president trump taking aim at the border as a caravan of about 1,000 migrants moves north. from central america through mexico to our board or. our president says any hope for a daca deal is dead. lewy goldman coming up next on the taliban. and the wolf huffed and puffed...

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a modest, modest turn but we're up 13 points, 4,100 is where we are. wal-mart going high-tech in china. lauren come on in please and tell me what exactly heir doing. >> so they have escaped with jv.com in china and that's the number two e-commerce retailer there behind alibaba ho do you compete with amazon here in the u.s.? and this is what they're doing it is called smart retail. they have a store in china physical brick-and-mortar has about 8,000 itemses in it so yoo into that store it buy what you want but they're also using that store as a warehouse. so you can place an order and they can get your stuff from the store to your home and half an hour or less. so this is the inti dwraition of on and offline as we try to justify the existence of brick-and-mortar the physical store and also with our, you know, i need it now kind of way. i demanded on my doorstep and put it in my refrigerator too. >> that's what it's coming to you're absolutely is is right.

yeah. all right lauren thank you very much indeed see you soon i promise. toys"r"us -- shutting down its website, look that to me ashley is gone totally. >> goart down the plug as they say yes shutdown as of 5 p.m. last thursday -- you go to the website, you'll be redirected to good buy toys"r"us.com. but it's not good-bye bye but buy and they'll give you information on the lick byization is sales that physical stores around a the country you know, they filed for bankruptcy. and then killed by a horrible holiday season by the end and they're gone. all she wrote. thanks ash. president tweeting this -- about the dreamers program and literally first thing this morning it is just very, very just momentses ago. daca is dead -- because the democrats didn't care or act now everyone wants to get on to the daca bandwagon. no longer works, must build wall

and secure our borders with proper or border legislation. democrats want no borders and hence drugs and crime. now the president also tweeted about that -- that van of illegal migrants marching towards our southern board. louie republican from texas. sir, what are you going to do? what do you think is going to happen if and when this tar ban of migrants arrives at the border i have to tell you it reminds of what happened in european when they descended a million strong and angela merkel let them in. >> well, it shows that mexico is not our friend. it shows the level of corruption in mexico they make money, the drug cartels make money every time any individual crosses our border, our border is divided up among the drug cartel it is they get paid for anybody coming in or that person's life is not where the plug nickel when they get into the u.s. they send people in, they let

them pay off a their -- wages. some part of their wages, the dps i'm sorry, the dhs in the pass under obama said to be the logistics by the -- drug cartels because -- they would get them across our border and then the dhs pay to get them whenever drug cartels wanted them. they would work off some of their wages by selling drugs or -- even worst things, and so fortunately we have a different party, a different president. a president really wantings to stop things but i have to tell you stiewrt as long as he add mcmaster in their advising over intel matters he got poor information. he was manipulated so now he's on track. but -- this nudes to be turned away. but we know what president trump and what republicans want -- turn this caravan away stop it at the border. >> you know what had the

president wants, but you -- that was different from what the leaders of the house and senate want. they didn't want to wall. they didn't want to stop the problem. and that's what -- you see reflected in the last spending bill. >> doesn't this pose a huge problem for in thes what are they going to do? stand on border to say come on in? that's not politically popular. what do they do? >> well -- stuart that i going to do a soft shoe but look at this last spending bill schumer got basically everything he wanted and like the president says, he didn't want daca or they would have gotten it in there they wanted 700,000 the president offered 1.8 million. and they turned it down. they're not interested in solving the daca program. they're interested in keeping it as a political problem. but we do need and i tell you what, this spending bill was also by republican leaders a slap in the president's face. not only did they not give him

the $25 billion he asked for so he could get this wall done. they gave 1.5 billion and by the way said it can only be used for a fence that you can see there. that is outis ragous. >> lewis just terrible. >> you're right but we have to turn them away. >> i have to go but thank you verify indeed that will -- for you. now breaking news and this is it. momentses ago, the president tweeted on amazon. here we go. only fools are worse are saying that our money losing post office makes money with amazon. they lose a fortune and this will be changed. also, our fully tax paying retailers are closing stores all over the country not a leveling playing field we'll have burt coming up on that momentses from now. stay there please. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets

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also, our fully tax paying retail reverse closing stores all over the country. not a level playing field. we can imagine that that really -- really brought stock down some more amazon right now down 58, 57 dollars 1,0389 per share and he's with us now. last time you were on the show you said, hey, lighten up on amazon sell a quarter of what your ownership. what are you saying now? >> quarter than a half now take three quarter withs you can never win a battle against the u.s. government only person in history did a successfully howard hughes. so you're saying get out of it. >> yep. >> what -- at what point would it be a buy 1300 now where would you consider it a good buy? >> within the commission wait until then because stuart amazon is and wall with mart have put 25 of the top 30 discount

department stores out of business 40 of the top food retailers, toys, book, sporting goods, pet category everything you reported -- so the burden is on the american taxpayers and citizens that will have to pay the higher prices because no commercial state taxes are being paid even in new mexico. collecting state tax about, not collecting for albuquerque in the county that's going on across america so ultimately you have price increases that the -- consumers and the taxpayers will pay for if -- the amazon and mart will get at them. so now you're down 61, 13085 that's down there. okay. moving on to wal-mart interested in a hookup with humana. now, i'm interested in wal-mart's stock. it is down 2.5% back up to 86. why? because -- >> wal-mart has the balance sheet.

but at the same time it would tap wal-mart balance sheet to do a deal that big typically -- wal-mart even when they do three to five billion dollar deals they failed. they failed -- with discount drug, and germany, and a lot of others. wal-mart doesn't have the right people with the right skills to do this. wal-mart can still win by having a preferred partnership with humana. vice versa they don't need to merge. >> okay got it by the way, amazon is now down 63 a share. yep. yep you opened your mouth see what you it. thank you for joining us, sir, got it. a tarvan of migrants that's a long column of people marching heading to the united states. president trump says mexico must stop them at the mexican border. their border they're being supported by activist groups and intend to claim asylum in america. my take on that coming up next. top of the hour. big deal. my mom's pain from

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stuart: it's been called a caravan of migrants. about 1000 people, starting out in honduras. the plan is to walk through mexico as a large group, collecting people on the way. it is being organize by an activist, people without borders. when they reach our border, they will walk across, claim asylum, and then be released into the general population. told to return for court hearing very few do. they would be in. this brings back memories of the migrant march across europe. remember that? tens of thousands, hundreds of thousands, largely muslim young men claimed to be refugees from war and violence. germany's angela merkel opened the door, let them in and changing europe forever. there is considerable backlash over there. the caravan on the way to america is not the same size,

but the challenge is the same. you're rich, that us, we're rich. they are poor and oppressed. let them in. that is a direct challenge for democrats. are they okay with this? they don't want a wall. they don't want to deport illegals already here. when this migrant march at borders democrats have to take a stand one way or the other. they will look hard at the experience of european politicians who let their marchs in. that experience was not good. but for the trump team, this is clean cut. early this morning the president tweeted a challenge to mexico. it is up to you to stop these caravans coming through. the migrant march is becoming part of the nafta renegotiation debate. over the weekend the president repeated his demand, build the wall and end catch-and-release. the ball is actually in the democrats court. does senator schumer want to become america's angela merkel? will california attorney general

becerra make the golden state a sanctuary for new wave of illegals in watch that migrant caravan. it will be an issue in november's elections. the second hour of "varney & company" is about to begin. ♪ note. stuart: we're pretty much flat t was a rotten first quarter for the stock market. now we're opening up the second quarter relatively flat. but look at those big tech names again on the downside. president trump a slammed amazon yet again this morning. it now down $58. that is a 4% drop. take a look at tesla. down again this morning. it was down, what, 12% last week. it is down another 6% right now. $17 lower, 248 on tesla. widespread talk about the

collapse of the company. walmart may be teaming up with humana. walmart is the biggest loser of all the dow 30 stocks. it doesn't have the money to take on humana. it is down 2 1/2%. >> into the hudsons bay, which is the parents of saks fifth avenue and lord & taylor, millions of customers affected by a hack. that stock is down 5%. under armour announce had data breach, friday, as a matter of fact, somebody hacked into the data from the fitness tracking apps, affecting 150 million users. today is the first opportunity of the market to respond. it is down 2%. i want to get back to my editorial, top of the hour, the caravan of migrants which understand is headed towards the united states. they started in honduras. we want to walk through mexico, collecting people along the way. they want to end up at our southern border. what's going to happen? harlan hill, is with us, trump

advisory board member. harlan, i think it's a challenge for the democrats, what will we do? >> if the democrats have their way they will do nothing about that. there is an invasion headed our way. stuart: that is a strong word. >> that is a strong word. this is a small group. 1500 people at the moment. they're growing in numbers. my problem, this will the is the tone, if these 1500 people are effectively able to invade the united states in a group and they're not challenged at the border, once they're in the united states, we have zero chance of being able to apprehend them at scale, then more will come. this caravan, just foreshadows the wave of immigration that will come across our border unless we start to invest in our national security. which starts on our southern border. ashley: that's right. stuart: do you think this is revisit what happened in your rap? ashley: the parallels are very,

very strong. in europe's case they were invited in by german chancellor's angela merkel. to harlan's point, if you open the doors, if they are detained, where are they released california, sanctuary city. invitation for many more to follow. stuart: that's right. they step across the border. they will be appreend haded. they will claim asylum and be released. >> they will be released, that is catch-and-release. >> in europe, the bar bear cans are at the gate. -- barbarians. i don't use that lightly. the people coming to this country are not people with the ability to fill highly skilled jobs we need. they're not coming with college degrees. stuart: harlan, you called them barbarians. the arguement that they should be humanitarian. >> there is a process for that. you can seek asylum through official avenues. if that is what you're looking for. but what is happening they're

looking to skirt the law, get to the united states, and then to take advantage of our good nature in the process. there is a proper way to do this if you just invade the united states by taking advantage of our porous borders and humanity of americans that is the wrong way to do it. that is absolute wrong precedent for us going forward. stuart: i say the president wins this one politically, politically. you say? >> i think that he should as well. but we need to start investing in the border wall now. stuart: got it. you agree, ash. ashley: i do. stuart: you and i covered the march in europe. ashley: extensively. stuart: extraordinarily. ashley: angela merkel has never been the same politically. stuart: if it develops to the same scale on the southern border you have a crisis. i think that is what activists want. >> to you your point that puts democrats in awkward position. stuart: it does. what a development on monday morning. i wasn't expecting that when i

walked in. we're on the downside, especially the nasdaq composite, 89 points down. technology has its problems. keith fitz is with us, that would be keith fitz-gerald money map press strategist. since the election of president trump you were always relatively optimistic. you say get in there, market is going up. you changed, completely. do you think a correction is coming? >> i do, stuart. the sentiment i'm seeing is consistent with key inflection points with the past 35 years in markets. there sun certain think. growing volume in bonds. growing volume in gold. traders are thinking about fear more than thinking about opportunity. absent a strong earnings season that points to me to a correction. stuart: are we being pushed lower by technology? >> yes. not pushed, more like pull.

really what that is, stuart, something walking away from the bid. there are lots of people who want to sell a stock as a function of normal market activity. what you don't is the buyers. they're simply moving the price down. stuart: let me ask you about spotify, the streaming outfit, they go public. first time they can buy shares in it. would you be a buyer. >> absolutely not. here is the thing. they're circumventing the normal ipo process to go direct listing. the problem is not the listing process is the valuation process. what tells me nobody knows what the thing is worth. they will sell stock. there is no central bank to stablize pricing, it could mean a very rocky ride. as an investor there is no rush for something like this. prove themselves for a quarter or two. see if they have a real business. then make a investment decision. stuart: tell me about facebook. that stock tumbled 15% over last couple weeks as the scandal surrounding that the social

media posts, down 15%. down again this morning. is it time to buy you think, facebook. >> no, i don't, stuart. we got clear of that 170 what i recommended. i don't think it is time to touch it. zuckerberg ironically is the biggest problem. facebook is has naivete, calculated naivete, the the bosh memo coming out. i think the stock ironically has a lot of downside to it. stuart: you want zuckerberg to go? you think he should go? >> i think should, would and want are different questions. i think there is compelling argument to make he should go. if i were sitting on the board i would take a hard look whether he has the chops needed to navigate such a complex company at time like think, amazon, dropped below $1400 a share. under vigorous attack by

president trump, would you touch it at 1397 where it is now. >> that is ironically the one company i would take a look buying, stuart. it is built on a business model that will not to away no matter what the president says, no matter what the fed does, no matter what wall street does to hijack its earnings. it is growing. it has the capital to compete. bezos has a very solid vision what he wants to achieve. if you have the right perspective that's a bargain, a bargain. interesting use of the word there. keith fitz, thanks for being with us as always. coming up this hour off "varney & company," kim jong-un attending a pop concert in pongyang, shaking hands and taking pictures with south korean performers. looks like i could say tensions are thawing a little bit ahead of a planned summit.

the out of control space station burned up over the south pacific. it did not hit land. this might not not be the last time we hear about space junk falling from the sky. creators of south park are republican. a shock to me. a friend hosted by friend of the show, larry elder. he is with us later this hour. no, it is not april fool's but that is snow that you're seeing. philadelphia, new york city, getting hit right now. most areas will see two to five inches. the heaviest april snowfall in 15 years. you're watching the second hour of "varney & company." ♪

stuart: we're open 45 minutes. what you're looking at selloff in the technology stocks. nasdaq composite down 1 1/2%. that is 103 points.

serious losses for technology companies again today. just look at amazon, please. president trump's gone after him again. tweet about amazon, it is a tack tweet. $55 to the downside. 1391 is your price. better check bit to inthat is coming down. down $1600 as of now. $6950 is is the bitcoin price. now this north korean leader kim jong-un and his wife attend ad rare k-pop concert of south korean performers held in north korea's capital pongyang. we have a former uss cole commander. i'm inclined to ask, does all this kumbayah signify a little progress between north and south, america and china,

everybody getting together any suspect you don't believe that? >> good morning, stuart, i don't believe it, or i take it with a large grain of salt, put it that way. the bottom line although this opening is occurring and kim jong-un is clearly making a trip to china, he is now visiting south korea, he is continuing every single day to march forward to work on his nuclear weapons, their miniaturization, ballistic missile technology that threatens the united states. until we see a pause there the reality of it is, every minute that we're now investing in actually meeting sooner rather than later is time wasted. stuart: but when the actual meeting does take place between president trump and kim jong-un, when it actually does take place, that will be extremely importanted. i don't think kim jong-un knows what to make for president trump. he has an american president who

he can not predict what he will do? >> it works two ways. number one it looks like he is getting legitimacy in the international stage by meeting with the president of the united states in unprecedented meeting but by the tame token the president trump is holding a meeting with a country's leader that is threaten the united states with offensive nuclear weapons. when you look at a potential conflict whether you see a nuclear detonation, whether it occurs over there or god forbid here, you have to exercise every option in the diplomatic world first. we're doing that nonetheless, secretary mattis is preparing for the worst case cause. why these exercises are continuing to go forward with the south koreans and the u.s. stuart: do you actually believe that the north koreans would set off, so to speak a nuclear explosion, either on the korean peninsula or over here or in the pacific? do you think they would actually do that? there is this thing,

mutually-assured destruction, they do that and we can knock them out? >> well, mutually assured destruction is is a whole different argument. i for one do not believe in that concept. the reality if come jing unwere to detonate one, he knows his reg would cease to es exist. nonetheless we can allow him to keep the weapons to the point where they are deliverable to the united states and threaten us. we have to work toward that end. we have to make sure he does not get put into a position that he feels he has no choice what may be left of his regime by detonating one. create the conditions for denuclearize without creating conditions for a war to occur. stuart: as former commander of american warship, can you tell us we do have the firepower near the korean peninsula right now to knock out any missile that could be fired by the north koreans? can we do it? >> i think that it would be challenging at es about. i think you have to look across

the full spectrum what is available for the united states and our allies, especially south korea and japan what they could bring to bear. could we shoot down every single missile? probably not. could we shoot down the vast majority of then, yes. the challenges were to occur. woe release everything possible to start the conflict so he could preserve his country's existence that would come to an end very quick. stuart: you don't think we would get to that point, do you? >> i'm hoping we don't. i'm hoping we make all the preparations to do so but by the same token let diplomacy work to the end. my belief china is key to this. i believe china will walk our nation to the brink of a nuclear conflict before they told north korea you must give up nuclear weapons. we would negotiate what the status quo will be in the future for the korean peninsula. stuart: strong stuff. thank you for joining us, we

appreciate night thank you. stuart: the selloff on technology continues. we're off 116 on the dow industrials. the that young man. "affluenza" teen will be released from jail after serving two years for killing four people. ashley: 720 days. he was called the "affluenza" team because psychologists said he was spoiled by his parents to the point where he could not tell the difference between right and wrong. he was given 10 months probation the first time around. that created massive outcry. a video appeared on social media, showing him violating probation. he was jailed for two years, which two people say is not enough for thekying of four people when he was 16 years old. he was three times over the legal limit and drunk. stuart: thank you, ashley. minutes from now the president and first lady will host the white house easter egg roll. if you're a history buff, i will tell you this, the first one was 1878 hosted by president rutherford b. hayes, we'll take

you there, the modern-day white house. we have television these days. we'll use it too. we'll take you there in a moment. ♪

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♪ >> come over here. put your hand like this. pull it toward me. >> there you go. >> behind the secret sliding wall, don and his brother discover what they didn't know they were looking for? the original rockwell painting. stuart: i call that a revelation. that was a clip from new episode of "strange inheritance." jost jamie colby is with me now. so, that's the, that was just a, that was the real norman

rockwell painting. >> we haven't had one like this. when you inherit a norman rockwell. you think it's a norman rockwell. you donate it to the norman rockwell museum. they accept it. it hangs. turns out the real one was hidden behind that secret wall. this is famous story, an i will truss straight tore, don tracte, he left kids what became cover of "saturday evening post." you remember the iconic covers norman rockwell painted. this did very well-known one. stuart: hold on a second, that picture is the real one, painted by norman rockwell, found by you, correct? >> found by the family. stuart: found by the family. >> behind the wall you see me moving. stuart: the same picture was in the norman rockwell museum. it was a fake. >> they didn't know it was a fake. stuart: until you found the one behind the wall? >> they were showing us where they found it.

amazing story. it was sold at auction. broke a norman rockwell record, $15 million. absolutely fantastic painting. family has a great story to tell. their father, did i will -- illustration of the cartoon henry. it was famous. they lived near each other in vermont. there are twist and turns to this one. as twisted as the second episode we have about trees of mystery. stuart: what time tonight. >> 9:00 to 9:30. another one of those roadside attractions, folks, you have to see to believe. stuart: i want to find out if the owners of the norman rockwell real painting got the 15 million. don't tell me. >> i told you too much already. stuart: there will be more "varney" after this.

♪ stuart: paper back writer. not one of my favorites. ashley: but we play it anyway. you're picky, aren't you? stuart: president trump and first lady, drop the beatles for a second. first lady melania trump, they're holding the annual white house easter egg roll. you will see some of it. ashley: they have the band and everything. stuart: first a selloff, the dow industrials down 138. that is half of a percentage point. we're down below 24,000. this is largely concentrated with the big tech names. will you look at that. amazon down 58. microsoft below 90. alphabet is down 21. facebook is back to 156. take a look at fitbit. it hit a record low. morgan stanley's called fitbit's wearable business unattractive.

that is a put down and a 1/2. now this, nbc's chuck toad got a lot of heat because he tweeted this. i'm a bit hokey of good friday. i love the idea of reminding folks any day can become good. all it take as is a little selflessness on our own part. works every time. howard kurtz with me now, author of the book, "media mad necessary." howard sometimes to me, secular humanism is the official position of america's media. is it? into i think that is going a little far. every day people get upset at public figures who say anything. i understand that some people found chuck todd's tweet offensive because the day of the crucifixion of jesus christ. he starts out by saying, no disrespect to the religious aspect because it is called good friday he involks that for a

little self lessness on his part that sounds like a christian message to me. i think that is overheated. stuart: my reaction is overheated? >> the general people on twitter fulminating about this. you're always measured. stuart: we're episcopalian. we never get that upset. at least publicly. on the other side of the coin, president trump tweeted about daca over easter. i'm you are sure you have seen it. border patrol agents are not allowed to do their job at the border because of ridiculous democrat laws like catch-and-release. getting more draws. caravans coming. republicans must to to "nuclear option" to pass tough laws now. no more daca deal. the president got a lot of heat because he tweeted over easter. what do you make of that. >> i think it is fine for him to tweet over easter. he seemed to be reacting to a segment on "fox & friends weekend" what is called a caravan. self hundred, you know, central

american refugees moving from mexico, hoping to get asylum in the u.s. it is not a law, as president said, catch-and-release. it is a practice that needs to be revisited. the president put this whole dreamers issue in play. he wanted to get a deal with the democrats in exchange for funding from the border law. he is under a lot of heat for signing that ga gant juan spending bill. this is the way he negotiates or vents his frustration over there has not been a deal. stuart: judge me journalistically. what should i call the people in the caravan? are they illegals? are they migrants? are they refugees? >> i think refugees is fair because they haven't done anything illegal yet. were they to sneak into the united states they would i be illegal immigrants and would be subject to the law. i understand the president's strong feelings about this. i'm just saying this is what triggered it. then he went off on nafta which he has been very upset b when he does these things, this is a way

of putting pressure on the other side. pressure from democrats to get a deal. pressure on mexico to rein in some of the people getting into the u.s. i have to point out the president repeatedly said to himself border crossings are down under his administration. there is not a connection to the daca issue. i'm starting to understand whether both sides, demonstrates or republicans this election year, they don't want a deal on daca and the wall. they want an issue to campaign on. stuart: i want to know what the democrats will do when the caravan arrives at our southern border what will the democrats do? come on if everybody. trump side will say you have to build a wall. >> you to enforce the law. let's start right there. stuart: we'll agree to differ. howard, thanks as always for joining us. >> see you. stuart: big tech, listen to this, the five big-name technology companies their market value dropped

$278 billion since the facebook problem began a couple weeks ago. down $278 billion in value totally. that is a quarter of a trillion dollars. scott wren is with us, wells fargo senior global equity strategist. seems to me, scott, this is one enormous selloff in the technology sector and it is going on again today. nasdaq, home of technology stocks is it down over 1 1/2%, i think it is. my question to be sure, to the point here is, technology led us up. is it now leading us down? >> stuart, first let me say i can't believe you don't think paperback writer is not one of the best beatles songs. stuart: get out of here. you know it is not. >> technology, stuart, for two years up until the january january 26th record high. the tech sector was up 60%. we pulled back 7% a little more from that. this is a pullback.

tech is almost 25% of the market cap of the s&p 500. you know those "fang" stocks, obviously they led the way. but i don't think it is all over for tech. what the market is worried about in my opinion you're going to see less earnings growth out of the tech sector this year. people are fearing regulation. stocks did really well. when the market goes down, you want to sell some stocks where the liquidity is, and certainly those stocks had a lot of liquidity. stuart: do you see any buying or the probability of investor buying back into big tech and running it up some more? when did that start? >> used to see me in the very near term we're just about 30 s&p points above the 200 day average in the s&p. we'll test the level. we'll probably run a lot of stops below it. i don't think there there will a

lot of follow through. if we get to the 2850 level we think will be in the s&p by year-end techs will have to take the lied. will they certainly are a player if the market will finish higher by the end of the year. stuart: you are saying if i'm not mistaken, there is some buying opportunities or there will be buying opportunities in big tech relatively soon, right? >> i would say, you know, would i say there has been and there will continue to be buying opportunities not only in big tech and also for the market as a whole. we're not overweight technology. we certainly think you need to have the allocation, even weight type of allocation there. we like industrials and consumer discretionary, financials and health care more but certainly as i said when you have a market cap, when one sector has a market cap that is almost 25% of the entire value of the s&p 500 that sector has to participate for this rally to continue and

this bull market to continue. stuart: scott, thank you very much. while we have been talking by the way, the dow dropped 204 points. it hit the low as we were speaking. scott wren, thanks for joining us, we appreciate it. what is your favorite beatles song? >> i like "back in the ussr." stuart: okay. we can accept that. thank you, scott. we'll see you again soon. get yourself in a lot of trouble with beatles songs. i will tell you. tesla angering people in the aftermath of that crash. the stock is down 6%. >> ntsb said they always appreciated tesla's cooperation in the past but they should not be putting out statements saying their autopilot system was activated prior to the crash that kill ad 38-year-old man in california. they also, tesla had put out no action was taken by that driver right before the crash, and that he had received earlier warnings

to put his hands on the wheel. all that upset ntsb. us go through the facts. we'll decide what went on here. we'll release a report. there was suggestion that this driver had been complaining about autopilot system. the tessa said no. the only complaint we got from the particular drivers that the navigation system was not working properly but had nothing to do with the autopilot. stuart: the stock is taking it on the chin. it was down $17. that is 6 1/2%. 248 is the price. there is real pressure on other tech stocks. i'm reading off my phone. microsoft is down a buck 68. can you show me amazon? i think we should really cover that closely. ashley: i have amazon down close to 60 bucks. 59 or $60 thereabouts. stuart: that is significant drop.

1387. ashley: as last guest said the fear here is regulation will ultimately crimp earnings. this is a sector that led the way for so long. what is going to come out of all this? how much will that hurt the business models of these companies. stuart: you talking about facebook. facebook is down $2 lower last time we checked. $3 lower. that is on facebook. ladies and gentlemen, we're waiting for president trump to arrive and start the easter egg roll at the white house. you are going to see it. he will emerge momentarily so we understand. ashley: right there. stuart: right now i take to you larry elder because he knows a thing or two about the subject. not the egg roll. there is the president. sorry, larry, you will have to wait a while. the president is taking center stage. there he is. ashley: with a giant bunny.

♪ >> ladies and gentlemen, master sergeant benny benie. r, and the president's own united states marine band performing the national anthem. ♪ o say can you see by the dawn's early light, we so proudly hail at the twilight's last gleaming, who's broad stripes and bright stars, through the perilous fight ♪ ♪ o'er the ramparts we watched were so gal lantly streaming ♪ ♪ and the rocket's red glare, the bombs bursting in air ♪

♪ gave proof through the night that our flag was still there ♪ ♪ o say does that star-spangled banner yet wave ♪ ♪ o'er the land of the free, and the home of the brave ♪ [cheering] >> i wish i had that voice. he was fantastic. thank you very much. well, welcome to the 2018 white house easter egg roll. so many people, you know, it was

supposed to be pouring the weather. it was supposed to be very rain any and nasty and cold and windy and look what we have? perfect weather, perfect weather. beautiful weather. thank you all for being here, folks. thank you all. i want to really thank the first lady melania who has done an incredible job. she worked so hard on this event. so i want to thank you. that's beautiful. [applause] also i want to thank the white house historical association and all of the people that worked so hard with melania, with everybody to keep this incredible house, or building or whatever you want to call it because there is really no name for it, it is special, and we keep it in top shape. we call it sometimes tippy-top shape and it's a great, great place. it is an honor to have everybody

on behalf of the trump family, many of whom are with us right here in the audience, i just want to thank you. this is a special year. our country is doing great. you look at the economy, you look at what is happening, nothing is ever easy but we never have an economy like we have right now. we'll make it bigger and better and stronger. our military is now at a level, will soon at a level it has never been before. you see what's happening, you see what's happening, the funding of our military was so important and so many military people are with us today. so just think of $700 billion because that is all going into our military this year. so i want to thank you all for being here of the band, unbelievable, i love you people. i hear them a lot. there is talented as anybody and any players anywhere. so thank you very much. i'm going to come down and we're going to watch this roll.

thank you. have a great time. have a happy easter. thank you very much. stuart: only president trump can turn the easter egg roll into a speech which mentions the economy and the military. ashley: of course. stuart: and the tippy-top shape we keep the white house. the president will go around and help with the easter egg roll. kids will go for that. it's a fine thing indeed. good weather. dow industrials is down 180 points. a big selling day today. big technology in particular on the downside. and now this. the reboot of "roseanne," big, big ratings. she came out as a trump supporter. then at a awards event, creators of "south park" said they are republicans who knew. the event was hosted by our next

guest, larry elder. i didn't know the "south park" creators were republican, they came out with it at your event. do you think other people in hollywood may not be encouraged to come out and say, i will give this president a fair shake. >> stuart, first of all, it wasn't my event. it was an event done about it norman lear group, people for the american way. norman lear is a very left-wing guy. but the south park guys asked me to introduce them for this award. so i did. after i did, they came out and they said, this is, by the way in 2001 they came out and said to the audience, all liberal, we're republicans. there was a smattering of laughter because the audience assumed they were joking. they said it again, with very serious expression, we're republicans. dead silence. it was priceless. you had to be there. stuart: i wish i was, actually. seriously. now we have roseanne, we have the south park creators. do you think that there is a possibility here that we will

see more emerge and go public about their politics? >> i really don't. if you look at the "roseanne" show it is conservativish. "roseanne" is a pro-trump person, as far as i can tell she is the only one of the family that has come out to be pro-trump. that shows how low the bar is. it got such good ratings a lot of people who voted for trump like the idea they will not be kicked around and treated like they are child molesters. so the series meets that bar, one of the lead writers is woman wanda sikes, who is rabid anti-trump person. you go online look at some of her work. she is as rabid as bill maher is against president trump. i'm not sure it will hold the same audience. it is a step in the right direction. it shows trump supporters are not complete and total idiots. that is enough for trump

supporters. stuart: very low bar. low bar. stuart: this caravan of migrants, refugees, call them what you like, president trump has tweeted about this vigorously about this already, when they arrive at our border, suppose it is the can california border? what do you think cat fornash authorities will do? will they welcome these people? if they do what happens to them politically in california? >> these are all very good questions. my suspicion once you set on american soil, under the catch-and-release policy, they will remain in this country. this is huge, huge problem. the big question what will mexico do? will they let them come through knowing full well this will irritate us knowing they are trying to renegotiate nafta? that is big question in my mind. stuart: larry, thank you for joining us. a great coup with the "south park" creators. we'll see you, larry.

>> see you next week. stuart: yes, you will. the out of control space station burning up over the south pacific. it didn't make land. ashley: no. stuart: is the first of other instances we will see coming over the years with the space junk coming at us? we'll is that question. sad news. winnie mandela, wife of nelson mandela, died of a undisclosed illness. winnie mandela was 81. a cockroach can survive heresubmerged ttle guy. underwater for 30 minutes. wow. yeah.

not getting in today. terminix. defenders of home.

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stuart: a chinese space item about the size after school bus did fall back to earth. it landed in the south pacific ocean. tariq malik with us, the space.com managing editor. tariq, this is your turf. i thought it was supposed to come down in michigan? >> a lot of predictions had it coming down in michigan, the south atlantic. tough to predict where they will fall, once they get low in the atmosphere all bets are off. they could veer wildly off track. part cost fall off and not get confirmation and fallen out of space until later.

stuart: any big object coming in to burn anytime soon. >> there is arian rocket body falling out of space. parts of rockets come off all the time, second stage. that is being tracked but not as, large as the space station that china lost and it is pretty well monitored. so they know what is going on there. stuart: the real problem seems to be, like a space station that is circling the earth and satellites running into space young because there is call kind of young out there. -- space junk. >> there is poise damage stamp can damage spacecraft over time. this instance with uncontrolled space station falling out of orbit is wake-up call or practice case for eventual disposal of satellites. many satellites have end of life plan. stuart: what is the end of life plan?

they burn them up and bring them down deliberately? >> first they have to make sure they have control of the spacecraft, good communications. in china's case they lost control in march of 2016. once you lose contact you can't tell it, dive into the pacific ocean or whatnot. then to have a kind of a manuever or thrusters or that kind of a plan, so that when you decide you're going to replace the satellite or at its end of life you tell it to either fire the jets fall down into the pacific ocean. or if it's a really high satellite, go to a graveyard where satellites. stuart: a little bit of space junk does not bother me. but an asteroid is another story. is there an asteroid on its way? >> there is lot of asteroids out there that cross earth's path. nasa and other countries are tracking a the lo of big ones. they biggest ones that could

cause planet-wide damage mapped and they're watching them. stuart: are they coming to us? >> matter of time. dinosaurs are not here because of them. tracking with technology used to monitor space junk. late this year, nasa will visit an asteroid to practice some of the techniqueses -- stuart: you have to come back. i want to hear more about that. >> it is going to be cool. it is going to be cool. stuart: tariq malik. appreciate it. one california county says it will announce the release data of felons so that immigration officers can question them as they walk out. looks like a revolt in california, does it not, against sanctuary city status? you will get my take on that at the top. hour coming up. ♪

. .

stuart: california just can't do enough for illegals. news today that students from out of state, american citizens l have to pay a 1,000-dollar charge at state colleges, illegals will not. democrats believe they can preserve dominance by looking in the hispanic vote which is the largest block of vote nester the state, throw in the green vote, hollywood vote and trump haters and you can be forgiven to thinking that the state will never, ever elect a republican again. hold on, there is a revolt brewing and it is growing. the sheriff will announce release date of felons from the county jail to immigration officers can question them as they walk out. it's not such a big deal, actually it is. in california, you see, local authorities are not supposed to cooperate with ice, the costa

sheriff which opted for sanctuary law and it's hit in the north right around silicon valley area to be precise, sign that is many californias are not happy with bending over backward, high taxing, heavy-handed regulation are pushing middle-class californians out of the state. they will elect a new governor in november. the democrats look like shoe-ins. recent polls in second place and unheard of achievement in formally golden state, there's the caravan of migrants on its way to the southern border, what will governor brown and attorney general becerra do, accept new awe of illegals. the times are changing even in republican. at a moment lieutenant governor

lydia, ortega, have we been totally wrong, can it be that a republican wins in state of california? find out as the third hour of varney & company rolls. ♪ sphoat stuart: i do want to promote this again, lydia ortega will join us shortly, republican candidate for california lieutenant governor, we we willt her reaction. president trump tweeting about daca this morning, here it is, daca is dead because the democrats didn't care or act and now everyone wants to get to the daca band wagon, no longer works, must build wall and secure borders with proper border legislation, democrats wants no borders hence drugs and crime. look who is here, let me just go

back to my take and this caravan of people coming, arriving at our border, i think that's a huge challenge for democrats, what are they going to do in we know that president trump is going the say, no, build the wall, stop this, are the democrats going to say come on in, you're welcome? >> this is a very difficult issue for the democrats and it's playing right into the hands of the president. look, people who want to come from this country like poor countries like méxico, south america, they are suffering, it's understandable why they would want to come to the land of opportunity, that being said, we are a country governed by the rule of law and if they would like to come to the country there are certainly ways, legal ways for them to do it. this caravan it's unfortunate for the people involved, this caravan will bolster the president's argument for the wall and that's why, i think, part of the reason why he felt emboldened to put out the tweet today, he was perfectly fine

with striking a deal over daca recipients in exchange for real money for the wall, omnibus spending bill only $1.6 billion allocated for wall. maybe the pentagon budget can assist in helping build the wall. donald trump from a political standpoint has got build the wall. i am for it for security reasons, for criminal reasons, you want to keep the criminal element out for the rule of law reason but also from a political standpoint that was a single thing that got donald trump elected. stuart: yeah, this issue, this caravan, arrival at the border will be a real problem for the californians in particular and could fuel this revolt against sanctuary state status. >> yes, because now you've got the revolts going on even within the far-left blue states where they are saying, look, we are a country that's supposed to be governed by the rule of law,

federal law, trump state law particularly on immigration issues, it's time that we gathered control over our own sovereignty and own borders. stuart: okay, we will leave it at that, monica, appreciate it. that's politics, we have to turn to money, lock at this, we are down sharply on the dow industrials, we are off 1%, 275-point drop right there, tech stocks, they are huge losers today l you look at am tone down $68, microsoft down too, apple is down, alphabet is down and facebook is down another 3 bucks, 3.71 to be precise. bring in fox news contributor scott martin, all right, we have an overall downside move, i say it's largely because of the technology selloff, do you think it's got anything to do with the china imposing tariffs on 128 american products? >> i do to some degree, stuart, you know, the overall market has

spread to many areas, you're seeing a lot of sellers pile on, i hate to do this again, i have to channel my inner lloyd bridges and it looks like i picked the wrong week to quit smoking, nice stock to what seemed rebound last week -- stuart: we are down 300 on dow industrials and nasdaq well down 100 points. first of all, tesla, lots of talk that this thing just might collapse and that's the word that's being used, what's your read on tesla down 7.9% as we speak? >> yeah, tes slea a rough one here and the bankruptcy name has been thrown out with respect to the company, stuart, tesla to me is an idea, of course, it's a technology and it's elon musk, two of those things are good, the technology is a concern now because we had the crash in san francisco a couple of weeks ago,

not as concerned about the recall to have power steering but the crash in san francisco in 101 is interesting and it was regarding the self-driving mechanism that pulled him into the barrier which he complained about supposedly. behind tesla, the self-driving mechanism, if that's not working, if that's dangerous, that's a reason to be worried about the stock. stuart: talk to me about am done, president trump has been tweeting about it several times over the weekend and again this morning, look at it now, amazon is down 5%, $73, at what point do you say it might be worth a buy? >> any moment now, you know, especially in low 1300 levels, i disagree with trump, i've agreed with him on a lot of economic policies and statements but i disagree his take on amazon, this can be something more with ceo jeff bezos.

i don't think there's much that trump and the administration can do to them, to me this is not an antitrust issue and there's a reason to buy amazon especially if it falls lower below 1300 which is my target is to pick up somemore. stuart: scott martin, difficult day, but thanks for joining us. thank you very much. >> see you. stuart: epa, environmental protection agency, expected to roll back mileage and pollution standards for automakers, the current rules were put in place by the obama team to combat climate change, the automaker says the rules will cost them billions of dollars, raise car prices, they want them gone. check the price of gasoline, where are we, not checked that for a long time. the nationwide average is 2.65, 3 3 cents more than it was this time last year. where is the price of oil? not effecting the stock market today. sixty-three dollars a barrel. it is down over 2%, look at

bitcoin, is it following the market down or leading the market down, i'm not sure of the relationship but it is down significantly down 6,900 is the price. where is gold on a day like this? price of gold is up, 13.41. we have a star, jam-packed hour. warren, do you know she's a sheriff, there he is, he's patrolling the mexican border, does he support the border wall. very special guest, he's got a new book out that highlights what he call it is rapid decline of morality in america, there's a headline for you, he's with us shortly on the set next to me. now i'm going to share this with you, that's me in the middle, of course, with my daughters,

rachel in the hat, angela right by my side, we went to easter bonnet parade on new york's fifth avenue, we do that almost every ashley: what was your bonnet like? [laughter] stuart: i have beautiful daughters, those are just two of them. that's the way to spend easter sunday, ladies and gentlemen, third hour of varney & company, oh yeah, we are getting started, all right. [laughter]

stuart: i'm going to call this a graif -- graveyard for cars, vw's, volkswagen, they got caught cheating on air pollution tests, wv say they will sell all those cars once they do meet emission standards, the park in the desert looks like a graif yard for carves, doesn't it?

very special guest on the program this morning, has a new book and highlight it is rapid decline of morality in america, this is denise praga he's gracing our program by popular request and we would love to have him on the show, the rational bible exodus, welcome to the program. it's an honor. >> thank you so much. stuart: give me the central premise of the book, go. >> people go to surge to synagogue and hear the bible and most of them don't know thousand make heads with tails with it, i like the founders of america know this is the greatest become ever written and i want to make the case, i take one book here, the second book of the bible and i will be coming out with a volume for each of the five books, genesis will come next, this has the ten commandments, i'm using reason alone to explain everything in there, slavery, ten commandments, the

burning bush, the ten plagues, exodus and show how this is life-transforming that this was the source of wisdom in america for a good reason. abraham lincoln almost never went to church but he read the bible every night. stuart: now, christians and i'm a christian we don't seem to prove existence of god and we don't seem to prove that jesus was who he said he was. are you trying to prove the existence of god rationally in this book? >> not prove but argue for, yes, i will give you an example of why i believe that -- that these -- these specially the first five books are divine rather than human made because they depict the jews often so negatively, no group has ever written badly about itself in history. so either the jews were unique in all of history in their ability to be self-critical or they're really not the authors that ultimately there is a divine author, that's what i believe.

the very critical way that the great way in which nonjews are depicted in five books, and the negative way jews not always obviously, moses was depicted beautifully but even he has flaws, that is one of the many arguments of divine author to the five books. stuart: you have written in this book that this is the first generation, current generation of people around the world, the first generation which has been brought up denying the existence of god without godless you say. >> this is an excerpt may work out, i don't think so, the first again ration in the west, the first generation in human history, not just western that's being raised godless, no religion, no god and the results, i believe, the end of western civilization as we know it. not god punishing us, has nothing to do with divine intervention but a wisdom-free

generation, a generation that doesn't believe in any truth will not survive. stuart: you think that the judeo christian ethic which is built western civilization is gone over and therefore our civilization is gone and over, is that it? >> yes, i'm not alone in believing that. this is what the great british prime minister, my favorite, what's her name, margaret thatcher said that. with judeo civilization goes we go. so i am not the first to note this, this -- why did -- people should answer this question, not who had slaves, everyone had slaves, the only intelligent question is who abolished slavery and the answer is those who bought the beliefs of this book. stuart: denise pragger, i wish it wasn't so short. it was a great pleasure.

>> very sweet of you. honor. stuart: the name to have book is exodus -- >> rational bible. stuart: this one is ixodus. i will give you a pen and you will autograph that copy for me, is that okay? >> with my own mountain pen if i may. i'm a snob only with regard to pens. [laughter] stuart: i won't watch you do it, thank you very much. you better check the market, let's talk money for a moment because we are down and then some, i will draw your attention to the bottom line of your screen which is the nasdaq composite down 159 points, that's two and a quarter percent, much bigger than the loss on the s&p and the dow, what we are looking at here is a whopping great big selloff of technology stocks and it is ongoing. by the way, there was one lucky number of the 521 million-dollar mega jackpot, came from a gas

station in riverdale, new jersey, that wasn't far away. that was the fourth largest jackpot in mega millions' history. this is a rare picasso, what is believed to be a self-portrait, how much would you -- [laughter] stuart: no, you, how much would you pay for that? forbes looks where people are moving to and from, we have the list, can you guess which state has the most people fleeing from it? it is not california. i wish it was but it is not. back with some answers in a moment.

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ythen you turn 40 ande everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade. stuart: all right, q&a time, we asked you before the break which state has the most people moving out, answer, illinois, top five, new york, new jersey, new york, connecticut, kansas, in that order, i'm surprised that california is not there. where are people moving to, according to forbes the number one state to move to is vermont. that's a shock. the rest of the top five there,

oregon, idaho, nevada and south dakota, not texas, not florida, not tennessee. i'm surprised. there you go. a rare picasso believed to be a self-portrait expected to sell for 70 million at auction, it's called, picasso painted in 1943 when threatened of deportation. a flight instructor in florida, happened in penbrook pines, he had to spend an hour to burn off fuel, finally touched down, the plane landed on its nose, he was safe, gets out and kissing the ground, wouldn't you? we were down over 300 we are down 300 exactly. next howard buffet will join us.

he recently visited the border and highlighting how drugs are coming across border, quote, creating epidemic that touches all 50 states, howard joins us next. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week

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stuart: quiet on the set. [laughter] stuart: you will get your time in a moment. the dow industrials are down, nasty down, 317 points lower, close to the low of the morning, we are back to 23,700, that's where we are. president trump continues to tweet about need for border wall and our next guest says we need more than just a wall, howard buffet, he's the son of warren buffet, he's on the show because of that book, he wrote it, our 50 state border crisis, howard buffet is with us now, there's a subtitle how it fuels the drug epidemic affecting all 50 states. >> absolutely, yes, sir. stuart: i presume regardless of your politics or your dad's politics you want to build a

wall? >> well, it's very important to have structures and barriers across the border but building a single wall that helps conceal people on the backside, méxico, does not help border patrol and a lot of -- a lot of areas where a border wall just won't work. stuart: okay, but you're in favor of a structure? >> absolutely. stuart: some kind of border security, different from what we've got now. >> what we have now -- there's two issues, one is we need to improve what we have, if you go across one of the ranchers, one of them -- stuart: you own property. >> you will find eight different types of border fencing, most of them are in effective, they are old, poor material, those are not effective. that needs to be upgraded and that can be upgraded. that's one of them. stuart: we are not all hearing about whether we have some kind of way of stopping people coming across, that's not the argument, what we want is a way of people stop coming across, we are in agreement on this? >> we are in agreement that

structures are needed and i won't agree that structure will stop people from coming across the border. stuart: what's the impact of those come ago cross the border? you write about a flood of drugs. >> absolutely, i was out saturday night and two out of the four arrests are drug related. drugs have just come so common play across the country and you, the people that you have typically have viewing program will be concerned about how it will affect people hiring. stuart: fair enough. most dangerous one in my mind, fentanyl. >> we have many drugs. the biggest challenge for law enforcement is that those drugs,

legislation can't keep up with the synthetic drugs, we know that certain drugs are killing people, we actually can't arrest people for possession of it. stuart: i see the badge you're wearing, you're a deputy sheriff? >> i'm actually the sheriff. stuart: i'm sorry, you -- >> it's like you're saying you're he's assistant. i'm a sheriff and i volunteer on the border which has 83 miles of border. stuart: okay, what's the main thrust of the book, is it to seal the border or do something about drugs? >> well, it's both except you can't really be successful with our drug issue unless you do seal the border up and that's kind -- again, everyone wants a sound bite that makes it sound simple. stuart: you want to seal it up, that's the keyword, i don't care

how you go about it, if you agree in principle, i think we are in agreement? >> you have to stop people from bringing drugs between the u.s.-méxico border. stuart: what do you think will happen when the caravan of migrants come at the border, you know what's going to happen, do you? >> that's part to have issue of not having border security, people believe they can daughters or sons border, they are going to continue to come to the border. stuart: are you a trump supporter on the border issue? >> i'm not taking a political position on it. i will tell you that those people that are coming across méxico, whether they are immigrants or whether they are drug mules, it's not doing our country a good service to allow them to just walk into the country. but that goes beyond politics in my opinion, you have 65,000 people a year now dying of drug overdoses. that's republicans and democrats, so it's not a political issue and that's part

of the problem, making it a political issue. stuart: would you mind if i went completely off the reservation -- >> i expect you to. [laughter] stuart: i will. your dad, worth 60, $70 billion. >> i stopped counting a long time ago. stuart: when he passes, he will give most of his money to the bill and melinda gates foundation. >> he's given a lot of money to five foundations. he has given us a lot of money, we gave $180 last year, it would be pretty hard to be sheriff and do other things i do if i had to give away a billion or two billion dollars a year. i'm perfectly happy with what we are doing. stuart: do you share your dad's politics because i clashed with him a few times about tax cut? >> well, i clashed with him a few times too, we are in agreement there too. [laughter] stuart: nice try, young man. nice try. howard, it was a pleasure.

i wish you well with the book. >> thank you very much. stuart: before we go on, do i -- i really have to check that -- show me the big board again, you to see, we are down 343 points and falling. the main point here is technology stocks having led the market straight up and now leading it down. huge losses today among those very, very strong technology companies, okay, now let me get to this, a shortage of truck drivers, it does affect the restaurants across the country, all kinds of delivery services are being upset because of truck drivers, they are not getting deliveries on time. this young man now with us is zang, he owns and runs and you were telling me that there is a truck driver shortage and it's affecting you, tell me. >> it's much broader than that, stuart, what howard is saying

about the drug epidemic, it's much broader than just coming across the country, rail heads drop it there and distributed and no one stops to really think about that, the trucking industry is short of about 54,000 ata american trucker association, 50 to 54,000 drivers and no one is coming in, no new driver ras -- drivers are coming. stuart: you have to have a super clean license, you to pass a drug test, you can't have any difficult stuff in your past. there's not that many people who qualify, that's one of the reasons, isn't it? >> there's a multitude of reasons, stuart, one is it's expensive, you have to go to couple -- school for a couple of weeks, you're on the road, over the road drivers are on road for weeks at a time and don't come home, it's stressful and enters a whole lot of price about

self-driving trucks, who wants to go into an industry for 3 years or 4 years and find out that they don't have the job, so there's so much press going on, it's something that folks like you quite frankly i'm really surprised having grab a hold of this thing because it impact it is entire country, ie, for example, truckers are held up from coming, so the manufacturer is late in delivery, now it's got to be distributed to the retailer, the retailers are short on truckers, ie, myself, myself, i don't get food deliveries. stuart: you run -- you are down nearly 500 points. >> i won't eat for quite a while, so -- watching the market. stuart: you're an investor. i'm saying this is largely the result of a huge selloff in technology stocks, amazon,

tesla, in particular, what do you say? >> i say that the downdraft brings a whole lot of people down with them. the drug epidemic, truckings brought downdraft to the market, 439 points impacts everybody. stuart: really, let me go back to the truck driver thing, you run all the applebee's, what are you doing about it? >> there's all sorts of things, we are trying to get, induce suppliers to park trailers, refrigerator and we could send drivers to pick up and bring to restaurants, it's a serious problem and there's lots of -- they are putting bonuses onto get people to come in the industry. stuart: not good. >> not good. stuart: zane, stay there. we have two dow stocks out of

the 30. ashley: united health and mcdonalds. stuart: the others, all 28 of them are down and down sharply. 438 points lower the dow industrials, can you show me the nasdaq composite, please, i want to show our audience how concentrated the selloff is in the technology stocks, right now we've got the nasdaq down, i am -- ashley: 193. stuart: 193 points down on the nasdaq, that's a gigantic loss, 2.7%, that's leading this market down, this is a selloff and a half, we are down 195, that's on the nasdaq, now, can we see, please, whether really big losses are for technology companies? i'm thinking can you show me amazon, can you show me tesla, well, look at that, am done is down $81, president trump has been tweeting -- is going after amazon, he did it again this morning, he did it over the weekend that is having an impact, that's a 5% drop and

previously high-flying stock, indeed. microsoft is down 2 bucks plus, that's near a 3% drop, apple is back to 165, google is down $34 otherwise known as alphabet, three and a third percent, that's a drop, facebook down at 155. now that's a drop and a half, ash. ashley: it really is, at this stage it becomes indiscriminate to selling. amazon with the presence of facebook data scandal, once the dam breaks there's a move to the downside. stuart: howard buffet is still with us, son of -- [laughter] >> stuart, i don'ton any of those stocks so i'm okay. [laughter] stuart: what do you think is going on here? >> you're not going to roll me doing into analysis of the stock market, there's no way. stuart: you want to talk about the book and that's it? >> yeah. stuart: we are down 500 points.

that's over 2%. now let's be clear here, we've just come through the first quarter of the year, january through the end of march, it was the worst quarter, i think, ash in twa what's two and a half years? >> since january 2016, just over two years, now we are starting on the second quarter and this is a very negative start, obviously. >> april historically has been strong for the market, i think the dow average 1 and a half percent gain in the month, not a good way to start it, that's for sure. don't forget we have earnings kicking off soon, maybe that will help tap down some of the volatility, big bank started earnings april 139, unofficial kickoff. stuart: that's the great hope, isn't cincinnati ashley: at this stage, yeah. s&p earnings are supposed to average 8 plus, 18%, we will see. stuart: i use the phone occasionally and am done is down 80 bucks, yeah, long time since i saw a drop of that magnitude,

i'm focusing now on the big name technology stocks because that's where the big losses are occurring, we also have ge is down one-third of 1%, thank $13 a share, does howard buffet have any comment on the likelihood your dad buying into ge? >> i don't know about ge, i can tell you when stocks are down that much it's time to buy, you know that? stuart: dipping his toe in investor waters, i'm surprised, i really am surprised. go. ashley: a couple of ten, ten-year, down, flight the safety, people are buying treasuries, the bonds are going up and gold is getting a big, big jump today as well for the same reasons. stuart: great deal of concern and worry on the market first thing this monday morning, we are back to 23,600 right there. bitcoin was down today. ashley: i don't think bitcoin leads the market. stuart: follows. we are taking zane off the set.

[laughter] stuart: thank you very much, indeed. howard buffet you say just in case you might say something about your dad. [laughter] stuart: we are down nearly 500 points. stuart: no laughing matter. bitcoin is at 6,000 -- no, just $7,000. ashley: yeah, actually off of its low today, came back, still down 1500 bucks. stuart: you're right, this is not leading the market now, it may be following it down but it's not leading, we have the price of gold up, nicely so this morning, again, it's the flight to safety, you are looking for some way of mitigating your loss so you get into that kind of investment like gold, up $13 on the day so far. ashley: yeah. stuart: again, go back to important point, ash, the yield on the 10-year treasury? >> down 2.74, a couple of weeks ago or less pushing 2.9

something, everyone was freaking out because interest rates were getting high that it would be tipping point. now backed off -- being because money is going into treasuries, safe bet. stuart: okay, we've got selloff in technology, we don't have any buying that i can see almost anywhere, certainly not in this stage, we do have concern over china, tariffs on 128 american products, nuts, sorry, nuts, fruit, pork -- >> i don't think that's leading the market. scott martin say that is adds and he's probably right. stuart: okay, just walking on to the set moments ago we have judge andrew napolitano and i have to ask you, judge, about amazon. under attack from the president, he says that it's costing the u.s. postal service a lot of money to have amazon use to ship -- use the postal service to

ship products, he's attacking amazon vigorously, what do you know from a legal standpoint, what's going on? >> i don't know where he's going to go with this. the washington post is owned personally by jeff bezos, it's not owned by amazon, i don't know if the president knows that or conflating the two. stuart: he knows. >> i agree with peter, the post office was saved by all the business that amazon gives it, the post office is a horrific model, do you know it's a crime, crime to compete with the post office for first-class mail, try and deliver a letter across town for less than 50 cents and the feds will shackle you, that's one of the statutes that congress to keep the post office. ashley: losing money -- >> having said that, when the justice department objected to the at&t-time warner merger and we wanted to use the president's tweets to show that the objection was politically motivated, the court wouldn't hear it. stuart: so you think the same

effect might happen now with the president's antiamazon tweet ifs they were put in front of a sort antitrust charge -- >> let's say the doj says that amazon is amonoop olist and want a federal court to break it up, will the defense be this is all politics because the president hates something that the -- that the founder of amazon owns, the washington post, i don't know if the court care what is the president thinks. stuart: amazon on the screen, down $76, 13.71, jason will join us on the phone, jason, i'm saying that this market is being pushed down by a whopping red big selloff in technology, is there anything else going on that we should know about? >> yeah, of course, three major factors, number one there's always going to be the backdrop of overly hawkish or surprisingly hawkish fed with the new regime which is something i've been pointing to for the past few weeks, the

other bearish factor is from a pure technical standpoint, the s&p, the dow, nasdaq are to breach certain high reference points, and yet finally, you know, almost needless to say at this point, the china tariff news is clearly not -- so you have multiple factors starting off the week which are scaring investors at this point. stuart: okay, is there any -- any point in today do you think you'll be a buyer of any group of stocks like technology, would you be a buyer of any of the tech stocks today? >> well, if you recall, i think, the last time i was on the show or maybe a couple of times ago i said facebook will continue to go down and i wouldn't really touch it until the 120, so if i stick to that which i am i will say my answer is no, i think we are going to continue to head lower, i don't think it's going to crash the market but i do believe this is a fundamental down move and when something is

fundamental it could last a little bit longer than people expect. stuart: you think we might drop below the previous low which we hit in february, i can't remember what the low was, we will test it and go below it. >> right. i do think precious metals will be strong, bitcoin has gone down enough where people will start to get into that, is stake heavens is where people need to look. stuart: jason, stay there for a moment. i have the judge with me and i want to know what is the legal risk that amazon faces if you can quantify it in any way? >> god, that is such a profound question, in my view amazon just keeps growing because there is a market for it and there's no numerical number but there's a certain point where when a certain percentage of the market, horizontal and vertical has been captured by a single

player that the doj will begin to examine whether its growth was an effort monopolize, there's no hard and fast number, they can raise or lower depending on how aggressive they want to be with the target. stuart: last word to jason before we lose you, give me 20 second, please. >> yes, i'm here, well, i do believe that the safe havens are going to be in favor heading into the summer, i think the market is either range bound at best or bearish to be more realistic and i think investors should be patient, i think the fed if they are smart they'll back off their hawkish stance and honestly try to support the market that needs it. stuart: jason, we appreciate you being with us on short answer, good man, thanks for joining us. by the way, i'm interested in the black stone group.

bx is the symbol. i do not own it. i was looking at it, yields 10.4%. >> you don't own it? [laughter] stuart: yields 10.46%, down 60 cents at the home but $31 a share, the blackstone group, i'm told that they can take care of that dividend through cash flow, establish cash flow, that really surprises me. i'm thinking about it, go ahead. ashley: i i want to come back to amazon issue and something judge brought up as monopoly. i thought monopoly has too much -- it doesn't hurt the consumer. >> great story of the monopoly case of 20th century standard oil, what the rock fellers did to lowering cost from point a to point b, the government still split them up. i hate to say, sometimes the

government is more interested in victory than it is in good outcome for consumers and invest mores. stuart: about ten minutes ago we were down 500, now we are down 450, david deets is on with us on the phone, time to buy anything at all, david, tell me. >> yeah, stuart, i think investors have an opportunity by exploiting what we have here is a data gap. the key information, what investors can look forward next week are corporate earnings, they should be up 17% year over year, that's going put backbone in this market, we are also looking forward to the march job's report on friday, so in between now, investors are cluesless and cautious in some company specific stories are really pushing the market around. i would look for companies who have strong earnings, good valuations and take advantage of the sweetness here. stuart: david, wasn't it you

that told me about the blackstone bx, didn't you tell me that? >> i'm not sure it was, those are the types of things, stuart, that we are looking for, blackstone group is one of the top performers in terms of what they do, now you are being paid to step up to it with a 10% yield, what's wrong with that? stuart: i'm not recommending anything like this at all. i don't recommend stocks, but i do recommend a 10% dividend yield to be safe. [laughter] stuart: in a market like this, that seems to me to be a safe haven and a half, anything else that you would regard as quality-safe haven david deets? >> yeah, stuart, we see some very solid real estate investment trust, the one that we own, that we have been buying for client, ventr. nurses, facilities and so forth, largest in the industry, i know the ceo well, i would step up and buy things like that as much

better alternative to very low yielding fixed income. stuart: do you own it, david? >> yes, i own it and does my family and our clients. stuart: thank you, david deets, thank you very much, sir, we have gone down to 500-point loss, 23,597 is where we are at this point. the concentration of selling is in the big-name technology stocks but it's really across board. it's very hard to find any winners on wall street today. ashley: david is right, we have the job's report friday and earning season kicking off next week, in the meantime you tend to listen more to the headlines coming out of washington which could be chaotic at times, we have the china trade war, not big issue but disturbing for some and once things move to downside u they pick you mean momentum. >> does wall street care that trump hates amazon? stuart: it's regarded as almost

personal that jeff bezos owns the washington post, founder of amazon, the washington post is the principal trump-hating vehicle amongst the maid juror media outlets and i'm sure that president trump doesn't like that going on. >> they provide tough quality goods to a vast, vast array of people in the country, people watching and listening to us now, do you think they join in that hatred and think it's politically motivated? stuart: i think they probably think it's politically motivated. i'm going leave this information only the screen, you will be able to watch the market and see what's going on, i will bring in let's see lydia ortega is with us, she's running for republican -- she's a republican candidate running to be the lieutenant governor of the state of california, lydia, welcome to the program, it's great to have you with us. i want you to tell us more about this revolt in contra costa

county, the sheriff will tell everyone when felons are leaving the prison so ice can have a chat with them is that correct? >> that's correct, thanks, stuart for having me on. i think the californians are waking up to that by protecting criminals from deportation everyone is put at risk, citizens, residents, documented and undocumented alike. many people fled their home countries because of unrelenting criminal activity, so when california puts criminals back into the community these people are victimized again. so we see that -- go ahead. stuart: i just -- i'm trying to figure out if there really is a revolt in california against the sanctuary state status, we see it in orange county, we have seen a couple of towns try to exit the sanctuary state status thing and we see it in costa county, can you give us

indication on how powerful the revolt this is, is it powerful enough to put a republican into a statewide office? >> i think the revolt is a new resistance, this lawlessness where california is i don't know living its old west days, people would have gangs going to a hide-out and trying to escape the possie and the sheriff, that's about making california one big hide-out for criminals avoiding deportation and the sheriff are taking note of that and they are -- they found a look hole just 12 miles east of san francisco near where i live, we see individuals acting to stop lawlessness, the problem is the underlying problem is the lawlessness, the new resistance is fighting sacramento to get it to follow california's constitution. ihad to read the constitution of

california, let me tell you really quickly, article 3, section 1 says the state of california is an inseparatable part of the united states of america and the united states constitution is the supreme law of the land, end quote. stuart: lydia -- >> we have individuals fighting for this. stuart: i want to get you back when i can spend more time, we have a pressing financial issue called the stock market selloff and i've got deal with that. but lydia ortega running as a republican candidate for lieutenant governor of california, we will have you back and thanks for joining us today. >> thank you, bye. stuart: ongoing story clearly is the big selloff on wall street. on your screens you can see the big tech stocks and this, again, this is where the selloff is concentrated. look at amazon, a few minutes ago it was down 80 now down 63. ashley: yeah. stuart: facebook is down $4 at 1

point r5 5, not on your screens but i'm sure tesla is way, way down as well, the judge is trying to make a comment. >> can the president with impunity drive down the share value of corporations he personally hates, answer, yes. stuart: of course he can. >> no recourse to him other than political when he runs for reelection. stuart: he can say what he likes an it's having an effect. ashley: tesla down 12 bucks. stuart: news broke on friday when the market was closed that tesla had the whopping great big recall, 123,000 model s, also that the auto pilot system was turned on -- ashley: yes. stuart: when tesla was involved in the fatal accident. two negatives for tesla and now you've got all of this -- all of this speculation that they are out of business soon. what's his name? elon musk, he put out what he

thought an april fool's joke suggesting that, yes, tesla might be bankrupt. ashley: not funny. stuart: look at it now. that backfired didn't it, judge? >> the use of the first amendment to shoot one's self in the foot. [laughter] stuart: ibm is down. there's a technology stock, ill thought it was going rebound -- >> ashley: gets caught up in blackstone group. we talk abouted it. it was down 66 cents. down 64 cents. it is coming back. i wonder if we have impact. i wouldn't want to say that definitely. we'll leave you with, our time is almost up. we have a selloff.

it developed in particular in the last 45, 50 minutes. particular selloff concentrated in the technology sector of this market. but it spread throughout the overall market. our time is up. charles payne in for neil. >> thank you, stuart. welcome to "cavuto: coast to coast." charles payne in for neil cavuto. the market is in selloff mode this of course sparking even more trade uncertainty. here to help us all break it