look at. charles: plus, they've been around for over a hundred years. they'll be okay. david, thank you very much. folks, as we drift towards the lows of the day, i want to hand it over to my colleague, liz claman. you know, it's tough, i don't see any buyers stepping up into this thing right now, liz are. liz: i don't either. but do you see a reason? that's what we're kind of hunting for. could it be powell saying, look, we've done everything we have done at the federal reserve. we're searching too here. what do you think? charles: that randy quarrels piece that came out echoed almost everything the fed has been saying, but there was a line in there -- and it came out exactly at 2:00 when the snowball became a boulder -- that seemed to be saying loud and clear that the economy is going to fall apart if the federal government does not act. they've been whispering it, now it feels like the federal reserve is yelling it. the market hears ultimate, i'm not sure d.c. does.

liz: let me be clear, he's right, the fed moves the markets. stocks -- thank you, charles -- are stinking, are sinking -- think kind of are stinking -- [laughter] as big tech selling of apple, amazon, facebook offsets j&j's vaccine, they're not able to lift up this market. the dow looking at its fourth losing day in five. we are down 465 points, low of the session down 475 or so, so we're just about there. s&p is losing 66, the nasdaq hitting a new correction low, down 291 points. the nation's top pandemic fighters from the fda to the cdc and more testifying on capitol hill just one day after american depths from the coronavirus -- deaths from the coronavirus trooped 200,000 -- topped 200,000. we'll take you to d.c. for all the drama.

meanwhile, one tech company that helps americans get cheaper prescription drugs making its debut on wall street just hours ago. the co-ceo of good rx is here for his instant to his stock's day one pop and what he can promise, he says, without any help from washington d.c. and a pandemic gaming boom paving the way for the first publicly-traded mobile e-gaming platform. they're skipping the ipo process and doing it with the same guys that handled draftkings' debut. the ceo of skills is here. plus, the most important promise elon musk may have made on tesla battery day 24 hours after it debut as the wheels come off. the amazon stationary bike, yeah, that didn't take long. we're less than an hour to the closing bell, let's start "the claman countdown." ♪ ♪

liz: all right, let's get to this fox business alert. we need to take a look at the nasdaq. this is an intraday picture, so you can see how it really is plunging. couldn't quite make a go of it even at the open here, but we do have very heavy selling in the tech space. now, we do have a bright spot as well, it's the first-ever for zoom shareholders. zoom video shares just zoomed right out of the gate, surging the $500 mark for the first time ever. just less than $2 below that right now at $498.83. so it's still a gain of 1.25%. the video conferencing platform's stock has been on a tear, and i'm not just talking about since the lockdowns in march. it's up 60% this past month alone with companies and schools, many of them, still meeting by zoom. so the company hiked its annual revenue forecast. check the dow right now, down

513 points. all right, 24 hours ago we told you about amazon debuting the sale of -- and i put this in quotes -- its own $500 connected exercise bike? that news sent virtual exercise firm peloton into a tail spin and amazon popped up. today a total reverse. amazon is down 4%, peloton is up a third of a percent. peloton hit a record high earlier after amazon denied it had anything to do with the bike while the head of echelon, which is sort of the big name on the bike, said, wait a minute, we were in partnership with them. we have the ceo of echelon's response to this disastrous roll outcoming up, you'll hear it, we'll get it to you in just a minute. all right, nike hitting a record after they returned to profitability in its most recent quarter. digital sales were the real driver here. surging 82% even as so many of

the stores had shut down or were barely open. you can see a great move, up 7% for nike. and then the is spillover effect from nike's success is splashing on lululemon, adidas and puma, all of them getting higher with puma up about 3%. the race for a covid-19 vaccine adding a new competitor today. johnson & johnson announcing it has now begun stage three trials of its candidate. they have enrolled 60,000 participants. the stock popping on the news. right now it's holding on to gains. you can see from this intraday picture, folks, this is great what we offer you here. you can see the price, you can see the percentage jump, but then the intraday picture gives you that perspective. it was a lot higher today, just above $146, now it's at 144 and change with 55 minutes left to trade. this morning health officials including national institute of health, the national institute of allergy and infectious

diseases director anthony fauci testified in front of a health committee on the federal coronavirus. our blake burman was watching every minute of this. blake, we have the president saying we're weeks away from the vaccine while dr. fauci pumped the brakes, but what is the consensus of all the experts who testified in washington on when we'll see a vaccine? >> reporter: well, speaking with the president, liz, the president was certainly highlighting -- speaking about the president, i should say -- highlighting the news coming from johnson & johnson today regarding its phase three covid-19 vaccine candidate. the news while it is a single-dose candidate, the president said the following today and people sort of highlighting this on his twitter feed, quote: numerous great companies are seeing fantastic results. but look at the back half of the tweet. the president said fda must move quickly. now, up on the hill today, you're right, there was the testimony of several of the government's top health officials. dr. stephen han, the head of the

fda, he was asked this point blank hypothetical, liz, will you and your family eventually take an approved vaccine? this was his response. >> absolutely, yes, senator, mr. chairman. i have the complete and absolute faith in the expertise of the scientists who are terrific at fda. if they were to make a determination that a vaccine would be safe and effective, i would do that, and i would encourage my family to take the vaccine. >> reporter: also testifying, dr. anthony fauci. fauci today continued to reit rate that an answer on a vaccine, in husband belief, is at least -- in his belief, is at least a month plus away. >> we feel cautiously optimistic that we will be able to have a safe and effective vaccinal although there is never -- vaccine although there is never a guarantee of that. we predict that sometime by the end of this year, let's say november or december, we will

know whether or not these are safe and effective. >> reporter: we will be hearing, liz, from president trump later today at the white house, 6:00 hour he will have a press briefing. the johnson & johnson announcement really caught his attention today. if you just go through the president's twitter feed, he was retweeting a lot of the news, links and some tweets there as well. ing the president says tonight he will be talking about the economy, jobs and give an update on vaccines. liz? liz: and we are also, blake, keeping an eye on names like google and facebook and twitter because -- >> reporter: yeah. liz: -- the president is meeting right now with some state attorneys general about the specifics of controlling some of these companies and their sites. what are we hearing sort of inching out of that? >> reporter: section 230 of the communications decency act is really what is at stake here. that is the sort of blanket protection that gives these social media platforms protection over those who post on their platforms so that these

social media companies aren't responsible for it. right now at the white house there is a meeting going on with president trump, the attorney general bill barr, states' attorneys general. the headline today, liz, is that the department of justice via the attorney general, bill barr, has put forth its recommendations as to what it wants to see for legislation to update section 230 of the communications decency act. they basically say that the moderators, that there needs to be some sort of control or at least a level playing field as it relates to the moderators. they also believe that the law should be updated so these companies don't have blanket immunity for when they knowingly are aware that criminal activity is taking place on their platform. so those are some of the suggestions that are being put forth by the doj, but we should also note no matter who is the next president, the president feels conservatives are being censored, joe biden and

democrats feel tech companies need to control the miss information on their sites. liz? liz: yeah. let's control the child pornography just to start, please. that has been the outrage, i think, on all of this. and then we'll e get, you know, the political issue too. blake, thank you so much. all right, folks, we're looking at the market. they are getting dragged down. it's a number of issues, but if we just hook at the names that are dragging down this market, technology. but it's also the fact, if you're looking at sort of the granularity of what's bringing these markets into the red so deeply, the fedheads are out in force today. jerome powell testified for a second day in a row, charles evans, rafael bosick, neel kashkari and marely talely have been speaking -- mary daley have been speaking throughout the day, and charles payne just mentioned randy imarls, who is vice chair, he has made some

comments at 2 p.m. in an op-ed, and i think that is also weighing into it. in essence, what are we hearing from all of these fedheads? could it be a lot of talk and not a lot of action left to take since it does seem the fed has done quite a bit to the boost the economy? let's bring in our traders, ted ity weisberg and phil flynn. teddy, are you putting sort of credence like charles was into what the fed is saying at this hour, moment by moment, and who are you watching most closely? >> well, i think, i think not to listen to the fed and pay attention to the fed clearly is a mistake. you know, we have this old cliche, don't fight the fed. but on balance, i think the fed has been in a very accommodate i mode, and i think that -- accommodative mode, and i think that their doing, certainly up until now they have been very constructive. you know, vis-a-vis monetary policy. but at the end of the day --

liz: yeah. >> -- they are the 800-pound gorilla in the room. they can only do so much, and perhaps they need a little help in fiscal policy. it would be nice if we could get a stimulus package. and there are all these other knowns out there that weigh on the market. so when you get the fed perhaps sending a mixed message and all the other issues that the market is concerned about, you end up with an ugly day like we're having today. >> report that's right. liz: well, phil, let's be clear on what randolph -- randall quarrels said. he's the fed's vice president of supervision. and in essence, he painted a very optimistic picture, okay, that would be certainly something where he lays down the table the forks, the knives and then he spills the wine, and the red wine right on the table cloth. he said risks are weighted to the downside, and the economy still needs further support. but does that really fall in the lap of the federal reserve who has been brilliant at doing exactly that?

in essence, it falls at the feet of congress who have been intransigent. their feet are stuck in cement right now when it comes to any more help. >> it is. and i new not only did he say it, but i think every fed official in their own way said, hey, we cannot carry this economy on our own. washington, can you hear us, we need help. you know, we can't do it along with monetary policy. now admittedly, we know that that could do a lot of things because they have a whole bunch of ink. i think there's a bunch of other things as well when it comes to negative interest rates, but nobody wants to go there. why? beneed a little help from washington -- we need a little help from washington. one of the things that i saw that concerned me and, i think, the market today was fed president charles evans basically suggesting that the fed might not wait until they saw 2.5% inflation or 2% inflation before they raised rates. well, that was totally op out of what we've -- opposite of what

we've been hearing. the fed wants to see inflation run hot. and to me, that was kind of bearish, right? if the fed's really worried about inflation, then the talks about a flexible inflation rate might be overstated, and the fed might be more aggressive as they really start to see prices start to spike up as far as inflation. i don't think they're there yet, but that's something that might be one of the negative takes from today's fed speak. liz: yeah. i'm just looking at the 10-year yield. we're at .674%, so we'll keep an eye on all of the flights to quality or the safe havens. okay realtime grammar. realtime grammar on "the claman countdown." teddy, phil, great to see you again. we are watching gold, silver, all of the metals, and it is rather interesting because gold earlier today had fallen below 1900 and is going even further,

down $45 right now. "the claman countdown" is coming right back. tesla battery day, we've got to tell you what happened, what propses were made, what tesla's stock is doing and what might actually be a bright spot in all that elon musk said. ♪ ♪ look, this isn't my first rodeo and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior,

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♪ ♪ >> we need to make more affordable cars. the, you know, i think one of the things that troubles me most is we don't yet have a truly affordable car, and that is something that we will make in the future. liz: okay. how affordable? elon musk stood on stage yesterday during his battery day, and he announced his ambition, a $25,000 tesla. and this, of course, was just one of the many things he talked about yesterday. the carmaker aims to lower electric vehicle prices by producing cheaper batteries with longer range. hut yum battery -- lithium battery makers see their big product becoming commoditizedded, right? churning them all out. but lithium america's corp. down 20%.

but comping this in that price range, we a decided to put that together. will it be the toyota corolla at tesla? will it be the hyundai sonata the version at tesla? gm buick? those are all cars that sell for around $25,000. while that price point sounds terrific, wall street at the moment is giving a thumbs down to tesla's stock, down 10% to $381.61, but susan li, you and i both watched this hourlong presentation. i know it was fascinating to say it was a drive-in, by the way, where everybody who was there drove in. if they liked what they heard, they honked their horns. tell me what you thought. >> i think the shareholder meeting, it was almost three hours long, but you're right, i liked the setting, held in a drive-in movie theater. but a lot of people were saying it was long on promises, short on details on how to get there. remember heading into this battery day there was a lot of hype that elon musk was putting

around a million mile battery, but in the end a lot of people said, look, it's a battery redesign, and it's going to take three years to ramp up production. that's a long time. also heard about that $25,000 self-driving vehicle in three years, autonomous, he mentioned, and also making 20 million cars each and every year. you know, volkswagen only makes 10 million, so that's a lot of ramp and a lot of promises to make. he had a lot of monday morning quarterbacking amongst the analyst group, and they're divided in terms of whether you believe elon musk. goldman sachs seemed impressed, they've got a price target of just around $400, that's a raise from 295. deutsche bank raising as well. but then enough the naysayers, rbc's calling it a sell, and we have also wells calling it just a hold at this point. why do batteries matter? i've had to explain this to people, because this is how you

brung down the cost of electric vehicles, and you want it on par hopefully in the next few years with the gas powered ones so people will buy more electric vehicles in the future. you also want it, i guess, more optimal, in fact, you want more range than just 400 miles per charge. but a lot of things happening with tesla including we heard about a global outage of the system this morning, tesla owners couldn't get access to their cars via the mobile app. it looks like that's been sorted out in some capacity. some people have been able to now access their teslas. and one more piece of news for you, liz. we had elon musk and tesla suing the u.s. government, i guess they're going against these trump tariffs that actually made a lot of the imports of tesla-made screens and displays more expensive, and they're looking for interest on top of the e fund. refund. liz: well, what's really interesting to see when he pointed out that the shanghai factory went from dirt to just churning out teslas in 15

months. it seems just amazing. my favorite point though, because i thought all those guys up on stage, made science very cool, was when one of the guys up there said every atom the has its place. every atom has a place. and then elon was worried that iron would get offended because they were paying so much attention to nickel. [laughter] susan and i were geeking out. you know, we really like this. all right, thank you very much. this is a buying opportunity, goldman sachs says. closing bell, we're about 37 minutes away. draftkings down today but certainly wearing the crown in 2020. that stock is up 376% since just the start of the year. digital betting became a cure-all forking lockdown malaise, and coming up the ceo of the all-star e-sports competitor joining forces with flying eagle to test its skilz

in the public market. the ceo, andrew paradise, is here. ♪ ♪ and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. with the icon that does the same. the rx, crafted by lexus. lease the 2020 rx 350 for $409 a month for 36 months. experience amazing at your lexus dealer.

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i've been taking prevagen on a regular basis for at least eight years. for me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. and i enthusiastically recommend prevagen. it has helped me an awful lot. prevagen. healthier brain. better life.

liz: all right. we're seeing a volume spike in airlines right now. we need to tell you that there's some breaking news at the moment on united airlines, and the use is that ual has actually struck a deal with its pilots' union to delay furlough ares which were set to start one week from today, october 1st. but they're going to delay it until october 30th. united had planned to furlough some 2,850 pilots without an extension of federal payroll support that expires this month. of course, they got during covid, the airlines in aggregate, got about 25 billion. each one took a certain amount, but we have united airlines down 2%. flip it over to delta and american airlines, all of those

stocks are moving significantly in the red at the moment, but they're trying everything they can to stave off large scale layoffs, large scale firings, and we do know that they're trying to preserve cash. they're delaying all kinds of deliveries of jets. we'll be watching the story, but right now the airline sector is in the crimson. while the market has shown a lot of chop with spikes and selloffs, look at how resilient the ipo market has been. from snowflake to gaming tool leader unity, get, some of -- yes, some of them are red right now, but all are now trading above their initial public offering prices. no wonder there's a rush to jump on the ipo train. mobile game platform skillz has already had one foot on the locomotive. they game, solitary tube, a huge part of that moment will be the first e-sports platform to go

public. so we thought let's get the founder and ceo, andrew paradise in. wow, andrew, eight years in the making. are you on target to meet your goal of ipo-ing before the end of the year, december 31st? >> absolutely. and thank you for having me. it's an important milestone for us, so it'll give us greater access to capital to grow faster than we've ever been. we've always believes fair competition is something everyone should have a stake in. liz: air airbnb -- and i bring m up because we've been waiting for years on that ipo -- it's very tough to pinpoint a time on the calendar, especially this year. clearly, you're thinking just get it done. but what is it about going public that excites you so much? you guys are already making triple-digit revenues here. i know you're not profitable just yet, but talk to me about what you would do with the

money. >> we could be profitable today, but we've been strategically reinvesting our growth into the business. so it's a rapidly expanding market that we're in, mobile gaming, it's $68 billion today, but it's projected to be $150 billion by 2025. mobile gaming's actually now larger than movies, music and books in terms of media industries. it's really the fastest growing segment of gaming, and it's -- when you think about it, gaming is interactive content built for devices which is why it's the future of entertainment. and the way we think about our business and going public, it's this opportunity to bring e-sports to everyone. today we're the leading mobile everything-sports platform in the world. we're running 2 billion tournaments a year, but there's still so much left to build to create the competition layer for the internet. liz: okay. beyond what you just talked about, what left to build? where do you foresee your app going?

i downloaded it today because i had to do my research -- [laughter] some of these games are moving so quickly, you know, say you're fair and fun. but awe side from that -- aside from that, how is it fair, and talk to me about how you envision it expanding beyond what you just articulated? >> so just to give you one small piece, today 90% of our revenue footprint is in north america whereas the international gaming market is four times the size of north america. so when you think about these next few years, market share expanding throughout the world is a huge part of what we see ahead of us. to put it in another context, today we're at 2.6 million active users, so we're only .1% penetrated. liz: you know, you're going this route that many are doing, and that is via spac, special acquisition companies, and

flying eagle is the company that helped draftkings go public. to me, it's obvious, you don't have to go through the whole that gill la of road shows and tap dancing for potential investors, but what is the incentive for you as a founder and ea ceo when it comes to is spac? >> we met the team behind flying eagle corporation, we met them three years ago when they were billing out a different spac. we'd also planned to be ready to go public by q4 2020, and we showed them our plan and the revenue build that we intended to hit. we hit that every quarter between 1-a 5%, and then we met up with the team behind flying eagle acquisition corp. which is harry sloan and ely baker, and i think this lets us go public faster. it lets us choose our partners, a minimal cost difference.

and we were able to partner with institutional investors by running 159 million, and we're able to partner with wilmington, fidelity, franklin templeton. so it was really an ideal transaction for us. liz: andrew, please come back on on ipo day. we would love to have you back to see how the first e-gaming mobile site goes public, and we would appreciate that. that would be great for how viewers. thank you so much. >> appreciate that. thanks for the time. liz: well, you figure, god, i wouldn't want to do it on a day like this where the dow is down 476, the nasdaq down about 300, but that's exactly what goodrx is doing, talking the plunge today. now -- taking the plunge today. now, with about 26 minutes left before the closing bell rings, goodrx is looking like the picture of health in its debut. up next, the reigning prescription drug coupon king's

co-ceo on how he's accomplished what even presidents have not yet done when it comes to drug pricing. the nasdaq down 297. the russell down 2.5%. we're coming right back, don't go away. ♪ we've often wondered what keeps the world running. economics? algorithms? magic? turns out, it's you. doing your thing. dreaming dreams. building new worlds. it's why we built our workspace technology. to help you do your best work and to see what you can become. you're made for bigger things.

>> they have a full complement -- >> well, it's a great question, a very fair question. yes, i think it's very important. i think this will end up in the supreme court, and i think it's very important that we have nine justices, and i think the system's going to go very quickly. i'll be submitting at 5:00 on saturday the name of the person i chose for this most important of all positions, and i think we should go very quickly. you see the republicans are very united. as far as timing is concerned, we were elected. we have a lot of time. one justice was picked in 19

days. 19 days. we have -- we could do four at that rate or five. no, we have a lot of time, you know, before the election, and then you have after the election too. but in terms of time, we go to january 20th. but i think it's better if you go before the election, because i think this, this scam that the democrats are pulling, it's a scam, this scam will be before the united states supreme court, and i think having a 4-4 situation is not a good situation. if you get that. i don't know that you'd get that. i think it should be 8-0 or 9-0, but just in case it would be more political than it should be, i think it's very important to have a ninth justice. >> do you feel confident in lindsey graham -- [inaudible] >> i can only say we're giving you a person, whoever it would be, i could say any of the five, frankly. five women are the finalists, and they are all world class,

brilliant, great, they're great in every respect from academic -- >> [inaudible] >> oh, we could do it very easily. very quickly. from what i heard, he doesn't even have to hold a hearing. he wouldn't have to hold a hearing. >> he's going to. >> he's going to, i think. he wouldn't actually even have to hold one, and, you know, most of these people are young, and they just went through the process. you know, many of them just went through the process recently, so it's not like, gee, let's look at papers that are 15 years old. no, i think the process is going to go very quickly. the hearing, i think lindsey's going to call the date -- you can't call it until you have the candidate, and once we have the nominee, i will, you

we have nothing but time. >> no, i think, absolutely, we can get it done. we can do it even with a full complement of hearings. i think the president alluded justice stevens was confirmed in 19 day, justice ginsburg in about 40 days. we have got the wherewithal to do it, and i think we should have a vote before the election for the reason the president articulates, and i think we can get it done and we will. >> mr. president, do you believe justice was served in the breonna taylor case in kentucky, and what is your message to the black community who belief that perhaps justice was not served by the decision that was rendered by the grand jury in kentucky? >> well, my message is that i love the black community, and i've done more for the black community than any other president. and i say with the possible

exception of abraham lincoln, and i mean that with opportunity zones and with criminal yous first reform, with prison reform, with what we've done for historically black universities, colleges, schools, what we've done, nobody's done more. abraham lincoln, let's give him the nod, but beyond that nobody's done more. i love the black community. i don't know enough about a it. i heard a decision was just made. we've been together here, and so we haven't discussed it, but after i see what the decision is, i will have a comment on it, okay? thank you all very much. thank you very much. [inaudible conversations] liz: all right. president trump just having completed a meeting with state attorneys general, specifically talking about social media, keeping checks and balances on social media. we've been watching google, we've been watching twitter,

facebook. interestingly, twitter is higher, but facebook and google are both just off session lows, i believe. so, all right, we do have a market selloff, a broad-based selloff happening right now, but it is actually quite a good day, indeed, for goodrx's debut. the price comparison and coupon site for pharmaceutical drugs priced at $33, popped 40% when it began trading which immediately gave it a valuation of $17.7 billion. now it's up 45% to $47.97. and let's just give you some texture here. goodrx is a free web and app-based engine, aggregates drug prices around the country and gives patients the lowest price and then the lower case of that lowest priced pharmacy. doug hirsh, co-ceo, is with us live. we've got 18 minutes left in the session, this is quite a day for you, a very impressive day. let's talk about how you really are thinking, did you expect

something like this on a day where we have such a major selloff? >> you know, i didn't have a lot of expectations for today. i can tell you there's been a ton of effort going into all that we've achieved which we're super proud of, but i'm also excited about tomorrow when i get to go back to work and focus on helping americans get the care they need at a price they can afford. it's crazy times right now, for sure. les liz well, congratulations. you're not just a unicorn, which is a tech company that's actually a billion dollars plus. you're a pegasus, which means you are profitable. how do you look ahead and say we want to double these profits? i know that your expectation is that last year with 66 million in profit on $390 million in revenue, what are you looking for and what will get you there for this year? >> you know, since our founding we've been focused on one thing, and we do one thing really well which is we help americans find ways to figure out affordable

health care. there's so much room for us to continue to grow and continue to offer more services in a $4 trillion industry. health care is huge, bigger than, i think, any other industry in this country. and today we operate in a small sliver of that, and we're growing quite quickly and quite profitable, as you said, so we're excited to expand in both new services and addressing more needs across the customers we already serve. liz: let's show our investor audience how you do what you do. so goodrx, and here's a little bit of a gone straight for you. we took a -- demonstration for you, we looked at the price of zoloft on the side site, and it said that wegman's carries it for 46% cheaper than retail. stop and shop, walmart was in there, and then you tend to offer a coupon as well. tell us exactly how you do what you do. >> you know, health care pricing

is so opaque, and the data is so confusing and complicated, so we just try to decipher the mess that is out there because there's so many incredible ways for a consumer to save if they just put in a little bit of effort. we basically have to deconstruct all these complex contracts to make it simple like any other industry where a consumer can download the app and quickly save. there's no need for insurance, in fact, our prices are often lower than insurance, and we're just trying to make health care like anything else, we want to make it a transaction that a consumer can approach, easily understand and fine savings so they can actually get their -- [audio difficulty] liz: i know that you know we have an election coming up on november 3rd. you've got to tell us if you've been modeling for a win for either side. how would things fall through if they went to one candidate or another as it pertains to your business? because president trump has made no secret of the efforts that he has made to try and lower the

price of prescription drugs. joe biden has said that, of course, he was vice president when obamacare was put out there. he has said he will make health care a focus as we wait on the republicans to float an idea. what are you expecting? >> you know, we're fortunate enough to have been in business for over a decade now, and when we started the business, we were told we were wasting our time because the aca was coming out, and we weren't going to have to worry about the cost of health care anymore. fast forward, ten years later it's getting more expensive, insurance is paying for more -- sorry, insurance is paying less, and consumers are paying more. and, you know, we've heard lots of conversations on both sides of of the aisle and executive orders and lots of initiatives. anything that drives down the cost for consumers, we're a fan of. but we're not going to sit around and wait for the government to solve this. we're going to give consumers the tools they need now so they can make the decision on their own health care instead of

letting someone else decide it for them. liz: well, we hope, certainly, we're big believers, on "the claman countdown," of capitalism. we we hope that you will continue to do so. doug hirsh, goodrx is a huge stock today. folks, we're going commercial-free right now. the dow jones industrials down 52 points and falling. ing -- 522 points. all major indices close to session lows, so we are watching a landscape at the moment where just about everything -- except goodrx and twitter, there are a few more names in the green, certainly, but we're looking at all of this and more including potential threats to -- threats of potential changes to immunity that social media companies have had up until now. and i mentioned twitter. let's look at it. it's not enough. whatever president trump talked about and said moments ago, it's not enough to have twitter get dampened here. we're up 6.5%.

intraday, pretty strong at the moment, but moments ago we said that twitter routinely restricts expressions of conservative views and some platforms exploit their power. the president said he expects to come to a conclusion on the issue of technology platforms in, quote, a shot period of time. maybe -- short period of time. pivotal research boosted shares to a buy with a price target of $59.75, high hopes for a pop in business from this year's, of all things, delayed olympic games now set for 2021 in tokyo as well as there are a bunch of things here, but as well as the potential for a new subscription-based business. currently stands at 45.45. but the nasdaq down 317 points. just about, just above the lows of the session which i had at 343 points at the moment. social media rival to twitter

tiktok feeling the heat. charlie gasparino reporting now that the white house in-fighting is ramping up as the deal with oracle faces uncertainty and now even more uncertainty, charlie. we've got the chinese media, which we know is translation for the chinese government -- >> right. liz: -- in a huge wave. everybody wakes up in china, and they see on the front page of all the business secs this should never happen, it's extortion, it's a disaster for china, let's not allow this to happen. >> listen, there could be a way of doing this deal, and i can tell you that i know that oracle needs a deal, trusted partnership between oracle and tiktok to allow it to operate in the u.s., and there could be a way, i can tell you a, that people at oracle, general atlantic and sequoia who are major investors, they're trying to work out some deal that threads the needle. but this'll give you an

indication just how crazy it is. president trump over the weekend said that he's in favor of the oracle pitch. his good friend, larry ellison, a bigtime trump supporter, was going to make a lot of money out of this, and trump felt very secure in that. fast forward it to today, wednesday, and here's what we're getting exclusively from the justice department. we asked where attorney general william barr sat on the deal, and they said that he has not reached a final decision or made a final recommendation to trump on the tiktok matter. that's a quote. that is pretty amazing that at this late stage the attorney general is not either, is not onboard with this thing. we had heard, we were fist to report that he had expressed misgivings about the notion that the chinese are still going to own either a major chunk of the new company that tiktok is being licensed to that's run by oracle or maybe tiktok will still

control the app -- excuse me, the algorithm, which it's their algorithm, or bytedance's algorithm. so barr, for him not to be onboard right now tells you the heavy lift that oracle is going to have to do to get approval. steve mnuchin, the treasure true secretary, who sits on the all-important cfius board which is the committee on foreign investment in the u.s. which has to approve any transaction, is onboard with this thing. trump is -- he's going back and forth, from what i understand, being pressured by national security hawks on china that, you know, maybe this isn't the best thing to do. but barr, if barr's against it, it's going to be very hard for this deal to get done. that doesn't mean he will be against it, that doesn't mean they won't make him comfortable. but i'm telling you, for him to be at this late stage for him not to be onboard right now is pretty big. we should also point out that there is a lot of talk with people who deal with tiktok,

they think this thing will be punted until after the election. i think trump has said it has to be done in the next week or so. there's been -- also the commerce department put a soft ban on this until november 12th which is after the election. and, you know, i'm getting a lot of word from vendors of tiktok that do business with them -- liz: charlie, we're -- charlie, yeah. charlie, let me dovetail for the markets here. we need to transition because we are now hitting session lows for the nasdaq. actually, we're right about there. session low was 343, at least that's what i have. we now have the dow jones industrials 568. when we started this hour, we were down 467. we got some buckling and recoiling, investors are turning tail. to what do you attribute this? you know, we had randal quarles who is, of course, one of the big wigs at the federal reserve who gave a speech and said even

optimistic adjustments will take a long time to recover from the shock of covid. we knew that, jay powell has said that multiple times, but he said strong momentum for consumer spending will likely slow. >> listen, there's the headwinds that stock traders trade off headlines, the stock headlines are not good, they're keeping the government open, but there's no stimulus. so maybe some of the froth is coming along, the froth that was baked in for another stimulus plan is baked in. where's google trading today? can you put up a chart of google? liz: yeah, it was down about, town about 1% last i checked. there's a new low for nasdaq. now it's down 3.9%. >> okay, so just remember there's going to be a crackdown on tech. the google finish the antitrust case against google, liz, is coming very shortly, like the next week or so. and, you know, these are the stocks, google, apple, amazon,

facebook, these are all stocks that are powering the market. liz: yeah. >> there's a regulatory onslaught, if there's more scrutiny of them, you know, they're going to take a hit, and that's going to impact -- liz: great point. >> i think some of that you're seeing right now. google is big because i don't know exactly where that case is going to be. if it's far-reaching, it could really impact the stock. as you know, google is a widely-held stock. liz: well, we do have amazon now below 3,000. i do want to just -- can we bring up apple as well? thank you so much, charlie. we really appreciate it. it bring up apple because at $106.90 a share, again, that's post-split, of course, we now have the market cap at $1.8 trillion. so below $2 trillion at the moment. and we do have this pretty significant selloff here. s&p down 349. we have the dow down 565. i will give a quick look at the

vix. this is the fear index. so this usually goes up when we have a major selloff, up 9.5%. it had been up 8% when teddy weisberg referenced it. but you can see the s&p 500 pushing into correction territory at this hour. since its record close on september 2nd, correction means we are down 10 plus percent since recent highs. the s&p is there, if i'm correct. we do have the s&p down 80 points at the just slightly below it. down nine points. 6%. all right. then we got to talk about amazon. i just mentioned amazon. just one day after this company echelon announced it would be launching a 500-dollar x-prime bike, one of the connected bikes in association with amazon the e-commerce giant had to do major backpedaling after that very

product. amazon down after a decent bump yesterday. you're looking this stock straddling $3,000 a share. reporter: never underestimate the power of amazon not our bike they're saying. echelon said they collaborated to make that 499-dollar stationary bike. they deemed it the first-ever connected fitness product, but people are raising eyebrows about that one. amazon says it is not amazon product. it is not related to amazon prime. in fact there is no formnal partnership. amazon is working with echelon to clarify all of this in its communications this is according to a amazon spokesperson working with echelon. the ceo of echelon appeared on fox earlier? >> we were asked to develop a bike that would fit a 500-dollar retail price point. echelon and buying department decided to call the bike prime, even though all the correspondence and our purchase orders called the bike, ex prime bike, we learned the internal

team were not in full alignment t was a complete surprise to us. reporter: the bike is still on the site right now. you can't order it though. echelon says they will rebrand the product, get it up for sale, that will not be today. the prime bike is supposed to compete with peloton. look at that stock in the middle of a major selloff. peloton stock went lower after the prime bike came out. peloton, this stock is up 234% year-to-date, by the way, liz. you know what? you and i both love the peloton. tough market. tough competition. liz: yeah. it didn't even have anything to do with that. it got hit yesterday. by the way it was trading as high as 100 bucks today. it is at 95 getting swamped by the broader market. news to us amazon was not on the same page? that is interesting.

thanks to "varney & company" grabbing that interview, the beg one. thank you so much. cheryl. cannabis stocks, not only have they been underperforming the broader markets in 2020 there is one name right now absolutely getting slaughtered and that is aurora cannabis. it is down bp 28% right now. but today's "countdown" closer manages the cannabis based yolo etf advisor shares. it is up 60% in the last six months but right now it is just $10.74 after a very rough march and april, down more than 30% year-over-year. on a day where we're seeing a major sell-off it seems flighty to talk about cannabis stocks but dan aarons, give us your thesis here why on a day where people are turning tail on this market they should be buying cannabis? >> it is a tough day obviously

but if there is one area that has an ability to grow heading into this election cycle and to act differently than the overall market i say it is cannabis but cannabis in the u.s. primarily. there has been a lot of misinformation, miseducation about cannabis stocks. some of the biggest names people talk about way too much are aurora and canopy and tilray and kronos, when in fact if you look at our fund, yolo, that outperforming the biggest cannabis indexes by about 30% in this calendar year, and we just launched a new fund this month and that is mso. that stands for ms state operators. those are the u.s. cannabis operators. we're the only funds that have access to those stocks in an exchange traded fund listed on the stock exchange. liz: okay. >> u.s. is where the real

opportunity in cannabis is. that is where people should be investing. [closing bell rings] >> liz: great to have you, dan. some of our investors would like to reach for a pot brown any after a day like this. dow jones losing 528 points. nasdaq down 331. it was a rough session. now for "after the bell." you guys get it. connell: we're on top of the late-day selloff with stocks end tending losses during the final day of trading, end iting the lows. not a great day on wall street. it was weakness in the big tech stocks that dragged us down. welcome to the show. i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." this is the dow's the lowest close since early august. the s&p is falling closer to correction territory. nasdaq down about 3% hitting a new correction low. yikes! fox business team coverage. blake burman is at the white house. let's kick it off with jackie in the newsroom on on the big sell. jackie.