and a lou, i really like the first name. it really works. >> thank you. lauren: breaking news this morning, the turkish leader dropping to a new low against the u.s. dollar and the turkish president saying washington is waging war against his country. cheryl: fresh worries are probably not mobile markets right now. fallen as much as 11% right now after the markets opened in asia before recovering some loss. the stock market futures on the red. s&p down six and three quarters, nasdaq down 22 and three quarters. lauren: stocks in europe in the red this morning. the cac down fractionally, but the ftse in london and the dax

down 0.4% each. trade your asian stocks thinking is the turmoil continues to tokyo's nikkei down 2%. hong kong's hang seng losing 1.5%. >> what exactly are they doing. "fbn:am" starts right now. 5:01 a.m. in new york. it is monday, august 13th. good morning everyone. i'm cheryl casone. lauren: happy monday. i lauren simonetti. cheryl: cheers to our mugs on "fbn:am". thanks to the team for getting us a beautiful coffee mugs. lauren: hope your weekend was great. a lot of news to get to. cheryl: we are going to staff with our great story.

a fresh low against the u.s. dollar after president trump authorized the dabbling of tariffs on turkish steel and aluminum. central bank announcing a plan to provide liquidity that takes effect today. it has tumbled more than 40% against the u.s. dollar and namely due to concerns about how president erdogan has handled the crisis and espionage crisis. lauren: ed royce was weighing in on "sunday morning futures." >> i think the types of sanctions that are effect on turkey, the focus on the human rights violations, holding the pastor for more than two years and therefore the sanctions against turkish officials for human rights violations. that is a fact date. >> the charges against the

pastor are bogus and he should be brought home. cheryl: also breaking this morning. president trump to sign a defense policy bill into law today and cracking down on china's pursuit of u.s. intellectual property. trump will travel to ft. drum in upstate new york for the ceremony. the bill also aims to tighten u.s. national security reviews of chinese deals. it includes the largest pay raise for troops in nearly a decade. >> china reportedly looking to increase one deal at a time. the new york has embarked on a plan to expand more than a dozen countries in eastern and central europe. china energy for instance spent a billion dollars on deals in the czech republic in just two years. china has reached deals in the united arab emirates as well as kazakhstan and chinese officials struck an agreement to buy $9 billion stake in the giant russian oil company.

cheryl: the united states is expanding to nations. the trump administration is targeting less developed countries by threatening to remove them from a government program that offers duty-free exports to the united states. the program is meant to stimulate the economy poor countries. countries like thailand and indonesia have been on notice that they could lose those privileges if they don't provide u.s. companies equal access to their markets. >> mexico's economy is back in washington this week to continue talking with the u.s. on nafta as both sides appear to be close on securing a deal. while it's unclear what the exact sticking points are coming to mexican economic minister says negotiations are going well. president trump did treat over the weekend that the deal with mexico is coming along nicely. we will see. trade to the white house fired back at former aide omarosa.

the former reality tv star releasing what she claims is the chief of staff fighting for in the white house situation room. without any difficulty in the future relative to your reputation. >> it's very obvious a threat. he goes on to say things can get ugly for you. the chief of staff of the united states under the direction of the united states threatening me on damage to my reputation and things getting ugly for me. that's downright criminal. the white house may have violated national security. the very idea is staff member would sneak into the white house shows a blatant disregard for national security and to brag about it on national television curves the lack of integrity of this disgruntled former white

house employee is serving less than a year as the trump administration's assistant to the president and director of communications for the office of public liaison. >> over the weekend in washington, counter protesters outnumbered white nationalists had a controversial unite the right rally yesterday. a scheduled protest was peaceful with few confrontations. organizers are expecting about 100 to 400 to miss to attend, but only two dozen showed up. i was in stark contrast to last years unite the right rally in charlottesville, virginia, which as you note ended in the death of one counter protester. the rain also helps keep it out. trade to elon musk's tweet about taking tesla private has put the company in legal trouble. two class-action lawsuits have been filed already. when accusing musk of manipulating tesla stock. the other with misleading investors. meanwhile, the board planning to

meet with financial advisers to explore the idea of going private. the board is likely going to ask musk to recuse himself. we'll have a lot more on this topic. >> earnings still coming in. the biggest retailers due to report home depot. macy's wednesday from a wal-mart on thursday along with jcpenney and nordstrom. earnings season still not over. the dispute between president trump and harley david then continues. the president lashing out at the company on twitter. >> tracee carrasco joins us without another headlines monday morning. hope you enjoyed your weekend. >> yesterday president trump said he supported boycotts as harley davidson after he and the company disagreed by the administration. many harley davidson owners please to boycott the company is

manufacturing moves overseas. most other companies are coming in our direction including competitors a really bad move. we'll soon have a level playing field of butter. it announced it would move production out of the ui as a result of the retaliatory steel tariffs imposed by the e.u. the new duties on motorcycles increased to 31% from just 6% by $2200 to the cost of bikes built in the u.s. and imported to the e.u. >> what is going on with the weekend box office? >> we've got a new box office winner. >> what's that? shark thriller debuted above

expectations of an estimated $44.5 million admission impossible fallout dropped to second place in its third weekend with $20 million. disney's christopher robin was told by 4 million rounding out the top five slender man in black klansman. true three why are we going to see robots on college campuses? >> the latest in food delivery. this is one of about 2000 that roamed the campus of you see berkeley in california delivering food according to tech crunch, has already made more than 10,000 deliveries. i imagine getting one of these in new york city be transferred. wouldn't last a new york minute. thank you very much.

cheryl: video singing her order and make donald's drive through and it is going viral this morning. ♪ out of number six or size. but don't you forget the cheese. ♪ chicken nuggets with ♪ lauren: she's pretty good. she said she was inspired by youtube dark with the tall striker's strong and 2010. she wanted to re-create it and has over 100,000 views and shared two dozen times when i wonder what the donald's worker receiving the order was thinking. trying to get the girl and agent. the workers feel straight from

the seattle tacoma -- [inaudible] >> what is happening right now? what we are now learning about the hijackers very unusual training. a plane with no air conditioning . passengers in smoke in the cabin. details on the chaos for some atlantic passengers traveling home from disney. taking a look at futures this morning. still talking about turkey on this monday morning. concerns about a recession or financial crisis in the country. dow down 81, nasdaq down 26. you are watching "fbn:am." year, i am sorry about that.

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lauren: 5:14 this monday morning. taking the likely u.s. features. we are looking up more declines on the opening. data 76. nasdaq down 22. legendary singer aretha franklin reportedly gravely ill surrounded by family and hospital in detroit. known as the queen of soul, the 76-year-old has not performed since last year citing dr.'s

orders. franklin has battled many home albums for a number of years and her family is now asking for privacy and prayers. officials have found the site data reporter as well as human remains after an airport employee hijacked the plane and crash it on a remote island. richard russell took off from seattle tacoma international airport among us about his experience he said that playing video games helped him to fly. he did not have his pilots license and and he was alone on that plane. a nightmare of a trip on a virgin atlantic flight with passengers thinking for the heat on board the plane. they sat on the tarmac in a land of with no a/c for two hours before it was finally canceled due to add to the chaos, the replacement rate to london had to be diverted to ireland when the cabin filled with smoke. imagine being on the way. not at all. as a flight attendant.

turkey is an economic crisis right now is the turkish hit a record low against the dollar yesterday. of course lane on u.s. stock index futures here this morning. let bringing cofounder and thespian contributer jonas. good morning. >> good morning. cheryl: let's talk about the structure of turkey. investors this morning a lot of folks, most folks have emerging markets in the portfolio. that seems to be a risk as their investment. >> emergency market bonds and stocks are popular in a lot of mutual funds. you have some exposure to not allow directly into turkey. more the other countries have been weak recently where you heard that the bond and stock markets recently. the full crisis in other countries is kind of the fear that those markets will fall 20 to 30, 40% when it spreads, if it spreads.

>> they double steel import tariffs, experts on them, imports to us that the trump administration doubled right now. the white house have been exactly admitted it has to do with the u.s. roster. that's what the financial community seems to believe that this is more of a bargaining chip with regard to getting a release date of turkey. simply sending antidrug messages over the weekend. is that political way on the futures? >> what is scary is that things political. it doesn't make sense from a total amount of debt. turkey does the increases on the euro but i've got their own currency which is a benefit, but it is not denominated largely in the currencies of the problems in a bag. the currency falls rapidly, it's not just this weird priest thing, which is why does this have anything to do it all with investing in the country.

the government there, the president wants to keep interest rates lower than the central bank. investors don't like it was a politically elected person huddled around a central bank policy. because controversial here. you see a lot of political things taking over. that scares investors that they leave the country and then they can't pay their debt back and it spirals out of control. but some of the strangeness going on. cheryl: what about the imf in all of this? if turkey does indeed need a bailout, they will go to the imf. >> it's not a tremendous amount of debt that it couldn't be contained. greece also had germany in a lot of richer countries that wanted to keep the low euro together. no one really cares that their weakened significantly. their biggest trading partner by

any stretch of the imagination but the additional tariffs on their cause problems. it's a currency that weekend so you can let tourism go out there and hurt things. they haven't seemed to have done enough twos top this. people want the interest rates to go higher. slow down inflation. cheryl: nobody wants to see another financial crisis rock europe in particular whether it the greeks are the russians their neighbors. join us, thank you very much. good to have you on as always. lauren: a break in the blistering heat outlast. firefighters battling the wildfires in california and flash flooding washing away more than a dozen cars in new jersey as the floods remain high in the northeast today. adam klotz will have your monday forecast. the stock index futures we are watching turkey, they are occurring theme and that this situation will spread to other currencies.

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lauren: relief in sight for firefighters to make progress on continuing the biggest wildfires in the state. the so-called holy fire now both my than 50% contained in the two -week-old car fire which killed eight people and destroyed more than a thousand homes is now 60% contained. cheryl: finally some good news. interior secretary ryan zinke he turning neighborhoods expected by the car fire comparing scenes

from the iraq war. agricultural secretary sonny perdue expected to join today as he meets with fire officials there. cheryl: crazy weather. flash flooding washing away dozens of cars at a dealership in new jersey. it was actually caused by a thunderstorm. cheryl: the rain could be here to stay in the northeast. fox meteorologist adam klotz has your monday morning forecast. >> hey, guys. good morning and yes. temperatures in the 60s and 70s across the country. the large part a little bit cooler at least starting off this week it's the cooler temperatures on the east coast driven by more rain. that's continuing as we watched rain against portions of the d.c. area stretching to the north or flood watches and warnings as a result of the place we continue to really need the rain is the place we are just not being as much rain.

some shower at dignity and the west over the last several hours. that's beginning to wind down so you have some showers and portions of the desert southwest. with all the good fires up and down the state of california we really need the rain to help with those fires. there just hasn't been the case. 93 of more than 100 acres all across the western half of the country. we need more rain and unfortunately we are not going to be getting it anytime soon. talk to you. cheryl: we still have a lot more coming up this morning as turkey braces for another week of potential markets for oil. more problems for tesla ceo elon musk over that one little tweet around the world. they did share price jump. the latest on the quest to take tesla private. futures this morning. turkey is soaring here.

the dow right now is down 84 in the premarket. s&p.eight and a quarter. nasdaq down 26 and a quarter. you are watching "fbn:am." ♪ your type 2 diabetes, what matters to you? you got a1c, heart, diet, and exercise. slide 'em up or slide 'em down. so let's see. for most of you, it's lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk of a fatal heart attack or stroke. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit for adults who have type 2 diabetes and heart disease, significantly reducing the risk of dying from a cardiovascular event

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cheryl: breaking news this morning. the turkish lira dropping to a new low overnight. the turkish president saying washington is waging war against this country. >> rattling markets will sell as much as 11% at one point and then recover some of those losses. futures right in the u.s. data on 73, s&p.admin. cheryl: europe, look it would have been there. they all opened lower again.

contagion in europe from turkey. we'll show you the market in a moment. there we go. >> asian stocks sank today as the turmoil continues. the nikkei in japan down just about 2%. the hang seng hong kong done 1.5%. >> to treat about taking tesla private now sending the company in legal trouble. "fbn:am" continues right now. 5:30 in new york. monday, august 13th paradigm lauren simonetti. cheryl: good morning, everybody. i'm cheryl casone. turkey once again facing financial crisis at the turkish leader with as much as 11% overnight in asia amid concerns about turkey's economy and

potential impacts on the other emerging markets. mark looked and felt as the chief income strategist at the oxford club and he joins us now. good morning. >> good morning. the turkish central bank this morning saying it will provide all the liquidity that the banks need. that's the statement that is not doing much to make investors feel better. the portfolios in the u.s. have emerging market risk, not necessarily turkey, that the other market. how concerned are you? turkey's problems are very specific to turkey. i don't expect any contagion or any kind is correct cheryl lead into these other market. it is not something that too terribly worried about. lauren: europe far more than the u.s. has come a particular the

banks. the e.u. exported $110 billion just last year. they're not concerned about that? >> a little bit of course. again, turkey is kind of a minor player as far as trade in the world did a little bit more in europe than the united states. very minor in the united states. certainly there is some exposure. in the grand scheme of things, it is not that big of a problem i don't expect, especially if it stays contained a turkey. lauren: there are political ramifications in all this of course. >> sure. the interesting thing is of course here in the united states slapping tariffs on turkey. as i mentioned, it's a very minor player as far as trade with united dates. we do about $22 billion in trade with turkey as well as five to 6 trillion with the rest of the world. ironically enough we do have a

trade surplus with turkey, which the president of course would like to see more of what other countries. here in the united states especially, i really don't think it's a very significant event. even politically if the president can get the pastor friedkin is certainly that would be a huge political win for them. economically this isn't going to move the needle very much. >> as it plummets, the u.s. dollar gets stronger and that does have some negative effects for companies. >> that is true. the u.s. dollar has been getting stronger regardless. it certainly isn't helping very much and as other currencies selloff, perhaps in relation to the lira by sentiment spread, it is certainly going to affect the united states a little bit. the dollar has been very strong for a while now.

tranter really quickly have to wrap this up. do you think erdogan, i know it's very proud, link it to a hard current fees such as the dollar or the euro? >> yeah, think that would help a lot. that strategy has worked historically in the past. several things you can do that would be very important as well as take his hands off the central bank and let the central bank raised rates. he has mismanaged this completely. the fault falls firmly in his lap. lauren: thank you so much for your time this morning. >> thank you for having me. cheryl: there are more questions than answers about elon musk's wish to take tesla private. providing no details on how he plans to attend the school particularly regarding funding. reportedly has not received a financing plan leaving investors clamoring for more information.

good morning. great to have you here. reading coverage of the tesla as we've been covering here in our network and what is fascinating here is the fact that he is going to need about $70 billion to pull this off. we keep asking the question who has the money, who's willing to take the risk? >> leverage by this site is unheard of. the question is who is willing to step up and provide this financing? there is a report that the saudi sovereign wealth fund will put money in tesla has acquired up to 5%. would they be a source of funding? that's really a clearer speculation about money may be coming out of china. it's extremely unclear and that is why elon musk is facing some pressure to say who is willing to make this happen. >> let's talk about that.

they've got about 3% to 5% with the holding in tesla. would they be willing partners in report say they are not interested. a report delivered yesterday saying maybe they are willing to step into this. where do you think? >> they want to diversify their economy in saudi arabia. something like this would certainly help put them a step further away from oil. i'm not sure. if they were to do this and actually helped us to go private, that could cause some political concerns in the u.s. and of course the u.s. government helped by some volunteers to go. cheryl: it's interesting, right? where's the nasdaq during the trading session, which is odd for a publicly traded company. 80 minutes of trading. stock is a 60% premium on what

is a vague tweet. that is the nasdaq really have investors back when it comes to something like this could be frankly untrue. >> investors have serious concerns about how this unfolded. the trading continued there until eventually they halted at and revealed the official plan their. tesla published the e-mail that elon musk tended to employees. of course that is now attracted some shareholder lawsuits not unexpected that i'm not so sure this violated fcc rules but they're also taking a look at it. cheryl: what is your sense here are 50/50 of analysts and it's a good idea versus this is a bad idea. >> honestly the general consensus is probably not the best idea for long-term growth. maybe in the short term, but the reality is he wants to get it up is back in effect the ultimate

goal, perhaps something the rest of his don't know. cheryl: great to have you on. please come back. >> will do. lauren: spot if i have the new creation for its users. cheryl: and we thank nathan again. lauren: they may soon let users have it supported streaming service select an option where they can choose to skip ads. spotify says the option is available to all users in australia and the idea behind this is allowing it users to personally advertise, skipping ads they don't want. one less reason to pay for the premium content. lauren: the rating for nielsen is under pressure now. >> at this investor has reportedly taken a large stake in holding.

"the wall street journal" reports that the hedge fund has 8% worth at least $640 million. it also measures how people shop has really struggled as retail habits have changed. if the s&p 500 start work performer in 2018 with a shares up around 40% so far this year. cheryl: if they would do more monitoring of how they watch things online and how the distribution has changed in getting whatever. california is pushing a new bill to benefit women in business. lauren: california could become the first state to require companies to have women on their boards. two female state senators are sponsoring a bill to promote greater gender representation in corporate decision-making because of the 445 publicly traded companies in california. a quarter of them lack a single woman in their boardrooms. however, critics of the bill say it violates the federal and state constitutions they would

require companies to discriminate against men wanting to serve on the board. lauren: tracee, thank you very much. cheryl: coming up from the zero tolerance against service. backlash for hosting attorney general jeff sessions. while voters in wisconsin say a president trumps trade war with china. the number two dairy supplier holds primaries tomorrow. you are watching "fbn:am." ♪ when you think of miami you

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cheryl: welcome back. taking a look at features. the lira under more pressure. down 22.5. the third summit before the end of september. this time in pyongyang. kim jong emblem have not announced for the next summit. minnesota congressman and dnc cochair keith keller saying denying allegations of abuse by his ex-girlfriend. the woman said that on social message about threatening his mother as well as video that shows him dragging her off of the bed by her fee.

they removed all the social media count after backlash surrounding this image. ltm po cantina said posted the photo did not mean the immigration policies many people have called on mine. the boycott and the restaurant chain said death threats to the staff. that's what happening now. minnesota, vermont and wisconsin holding primaries. the former u.s. marine. running in the republican senate primary. president could reshape the senate race, which is the number two dairy supplier in this country. capri cafaro at the university school of public affairs and john jordan a member of the group brings to and board of overseers. good to see you capri and john. >> good morning. lauren: john, want to begin with

you. if you look at the one particular race in wisconsin, two republicans going for the democrat senate seat. but the farmers there are concerned because mexico is putting tariffs of about 25% on their dairy products. so that affects them. we know for the first time since 1984 they voted republican in this particular race. >> they are engaged in bilateral trade negotiations right now in all the indications are that may be resolved fairly quickly. the situation with canada is very different. canada historically has been very protectionist with regard to having not only a 270% tariff, but a rigid quota system in a price-fixing theme within canada. notwithstanding $133 million surplus in canada. but there's another dimension to this and that is the unfiltered

lower quality milk that is held by passage cracked or which wisconsin farmers can sell their milk. but that was close last year. as a result, wisconsin exports into canada have really been dropping for the last year and half even prior to the current trade disputes. lauren: capri, what do you think? these are local issues speaking on a national sale. >> no question about it. wisconsin is emblematic of a number of states whether you have dairy producers are part reducers concerned about the impacts of terrorists. there is no question particularly in the dairy industry, to produce have often outweighed the amount of money that dairy producers actually get when they sell their milk into the system. you have a place like wisconsin by 26% of the nation's milk as you mentioned, number two in the

country. in wisconsin from what i have read. a number of the farmers rather have trade and aid. the individuals running in the primary have embraced president trumps trade proposals. the only one wisconsin by 1% of the vote curtailed. correct me if i'm wrong, very popular among republicans in wisconsin. how do democrats feel? >> it all comes down to the rural vote to try to extract better deals from our trading partners. will they stick with it and be patient through this. indications that he will be, but there's three months till november and also the harvest of all the other crops in wisconsin as well.

will they turn out in those numbers? if they do, it could be competitive in november. >> they could just sit out home as well and not vote for either candidate. lauren: if you look at the democrats commit terry baldwin is one of 10 senate democrats who are running for reelection in states that voted donald trump. capri and john, thank you very much. cheryl: looking forward to back tomorrow. still ahead, tiger woods falls short of winning his first major since 2008. but we have some pretty big news to tell you about. who won the pga championship. we will tell you. a grand finish a wrigley field last night. taking a look at features right now as you can see the stocks continued this morning. the lira under pressure overnight affecting global markets. s&p down eight and a quarter. nasdaq down 25-point to five. you are watching "fbn:am."

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cheryl: what an exciting sunday the pga championship. lauren: jared maxes watch it and all they told us about it. >> wow, what an amazing turnabout. it's like watching the kentucky derby with nine or 10 horses in one or two links. one of those was secretariat tiger woods who did not make one fairway on the front nine. his tee shot landed him bear in the woods. tiger clawed out of trouble. between 10 pounds on the front nine scoring 32. watched his tee shot on 13.

tiger near the part 3 gets the birdie. kept him for the lead than tiger bogeyed 14. tiger sinks his beautiful putt in his seventh birdie of the day scoring a 64. never scored better in the final round, not even for teenager wins. he finishes all alone in second place over a million dollars in earnings yesterday. 28 roads were ready in less than two months since winning the u.s. open at shinnecock hills. three straight birdies. becoming only the fifth golfer. three of the last seven majors. 16 under par, two shot better than tiger woods. chicago cubs last night down three to nothing, bases loaded out of the ninth inning and then this happened. [cheers and applause]

ahoy says bill murray. a time cubs fan on the lockout. cubs hadn't done something like that trailing by three since 1963. cheryl: about as exciting. thank you very much. catch sports reports fox's headlines 21st seven sirius xm channel one fifth team. tranter retyping follett printed there is freefall. that. that is still impacting your investments this morning. what do traders in europe have this say about it? after this. ♪ year, i am sorry about that.

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cheryl: stocks in europe under pressure as the lira crisis plays out overseas. pieter dixon joins us now. what is the potential impact on european and u.s. investors? >> well, the impacts are relatively limited at this stage, whether you're for the united states. this is increasingly a problem for emerging market.

although u.s. equities may come in the very near term to most of the dollar is the most errors moved back towards what are perceived to be safe havens. the u.s. equity market will come out of this less badly than other markets. lauren: peter, why are we seeing gold spikes or the dax spake at this crisis in turkey? >> it's surprising just how little movement we've seen over the course of recent months. i rather suspect that this is basically because this type of visa. the u.s. is going to be okay in too much about the intended downside. cheryl: thank you very much. lauren: let's say good morning to charles payne in for maria bartiromo. >> good morning. it is monday, august 13th. a lot of big stories at 6:00 a.m.

of course everyone focus on the turmoil. the lira plunging again even a central banks promised to support their current peak and renewed their support for sanctions on that country. >> i think that the types of sanctions that arafat is on turkey, the focus on the human rights violations for more than two years and therefore the sanctions against turkish officials were human rights violations. i think that is a fact days. >> uncertainty on global markets. the dow has been under pressure along with the major u.s. indices all morning long after the selloff friday. all the major indices looking down nearly 1%. this morning europe's talks continue under pressure with clients across the board a japan down nearly 2%.

funding questions remain ineffective they've intensified for tesla that conflict and reports that they will invest in the buyout deal. plus, back in the boycott. they've issued to pour for those who don't want to buy harleys if they move production overseas. robots are now doing more than just making. they will deliver it. republican strategist erin elmore. pwc partner mitch roschelle emmis lansky partner lee carter. crazy day on friday. tough week. now a new name out there. turkey is out there. what do you make of it? >> i think there's a lot more to do than just with the president treat. what about the fighter jets over