compelling price. that's what i will be looking for through the end of year knowing we have these three things we are facing. charles: we got to leave it there, my friend. greg, thank you so much for helping us handicap that. liz claman, we came back a little bit. listen, we had been going down since 10:00 yesterday when that consumer confidence number came out. that might have been the last hope for a market that's been grappling for hope this week. liz: yeah. well, that was one piece of data yesterday and now we've got a flock of black swans swimming on the trading floors as we head into this final hour of trade. thanks, charles. the dow on track for its worst week since march and you remember what was happening in march. swan number one, new lockdowns of bars and restaurants in europe and fears of limited stay-in-place orders possibly coming back here in the u.s. due to spiking covid cases. swan number two, uncertainty over the outcome of next tuesday's presidential election.

swan number three, hurricane zeta. we will show you exactly where it is right now and how it's crushing oil, natural gas and energy stocks. at its lows the dow jones industrials had fallen 908 points. so when you combine that with the previous two days, that's a drop of more than 1700 points. the s&p 500 and the nasdaq are also struggling hard right now. we have the s&p down 94, the nasdaq down 332. look, now we see october's gains wiped out for those two indices and oil getting crushed in the aftermarket session, down 5.25%. we are now at $37.51 a barrel. this is not helping, either. three tech giants, facebook, twitter, alphabet google, adding to the nasdaq's woes. their shares hammered as their ceos faced congressional scrutiny from both sides of the aisle during a very contentious hearing on capitol hill. we are about to show you the key

moments and then our tech panel, top guys in the industry, will translate what it might mean for the stocks. will the renewed lockdowns invite a supply chain grinch to your home this holiday season? mattel's ceo is here live on the jedi tricks he's pulling now to ensure your baby yoda, your barbies and the rest of the mattel toy gang make it under the christmas tree. we've got a fox business alert right now, as bad news swarms the markets ahead of the election. the s&p right now is on pace for its worst week before a presidential election on record. so far, the first three days of this week have sliced about 4.9% off the broader index here and it has been a volatile couple of days. take a look at the volatility index, the vix. it is spiking at this hour. we see it up about 17%. it is up 40% so far this week alone and is on pace for the highest close since june 11th. what does that mean? a lot of fear in the markets.

but fleeing stocks and risk off is not your only option. i wanted to show you this etf, this exchange traded fund, because there's always a trade. the pro shares ultra vix short term futures etf which basically provides kind of leveraged exposure to the s&p 500, not the stocks, but the s&p vix short term futures, is spiking 17% right now. and that's just an etf that you can put your money in. hopefully you did that yesterday. regardless, there is more red than green on all the screens at this hour. team fox business coverage, with $408 billion in assets under management, we have frank rabinski, chief macro strategist, plus long-time traders teddy weisberg and scott bauer. frank, check the dow jones industrials down 813. what concerns you about how the markets are behaving and are you buying right now? >> well, thank you for having

me. what concerns us, i think you highlighted the points very well when you talk about the swans, the one swan i would add in there is the swan of the lack of stimulus. that's something we desperately need to kind of help bridge to normalization. i think it's those types of worries, clearly covid, the case rise is on top of the newsfold and this has been around but are manifesting themselves now. in terms of equities right now, we are neutral equities and we had been long. right now, we want to be -- get a little more of the uncertainty, you know, past us because you do have the potential for big structural change depending how the election plays out. you are talking about corporate taxes going way higher again so earnings growth could be really challenged for the next couple of years. that's a pretty big -- there's always uncertainty but you like to have a little clarity on

fronts like that. liz: yeah. i would note that corporate tax rates under joe biden, if he were to win, will not go back to what they were, 35%. he would bring them back up to about 27% and even when they were 35%, companies were managing to make money so i never count down american business and ingenuity there. scott, we are very close to correction territory for the dow jones industrials. we are down 9.5% plus at the moment from the recent record highs so tell me right now what you are seeing, where the flows are and where you see opportunity, because people have been bellyaching i missed the march lows. well, we are seeing kind of a different low, not as bad as march, but there is opportunity here. >> you're right. that's the psychology of the market. people that are on the sidelines waiting for a selloff, when we get that selloff, many times they don't act on it because all of a sudden that fear really steps in. so what i'm seeing right here, look at a stock that's beaten

up, look at microsoft. that actually came out with really good numbers yesterday, really good forward looking, you know, and the stock is getting beaten up because the market is getting beaten up. look at a stock like that, look at the bellwethers here to see not only if there are fundamental reasons to buy those stocks, but also technical reasons to buy those stocks. to me, this is a wonderful, wonderful opportunity. can we go lower, yes, we can go lower. you talked about the black swans in the marketplace. to me, the biggest thing is what prior guest just said. the lockdown but combined with no stimulus. we all kind of knew in the back of our minds that we could have these lockdowns going on here, but we all expected this stimulus, which i believe we are going to get sooner rather than later. liz: i am looking at a lot of names that have been higher. xilinx getting acquired by amd, and now it's down 3.33%.

you're thinking nuts, i missed it, at least you are seeing it cheaper than it was yesterday. teddy, you have seen many a session like this through your career as a long-time trader on the floor of the new york stock exchange. tell me what you're thinking about the fact not just that we are seeing a selloff at this hour with the dow considerably lower by more than 800 points at the moment, but when you pair it with monday and tuesday, we are now starting to see some real weakness as far as that aggregate of those three days. >> exactly. we have all the cliches to wrap around these markets, liz. the uncertainty clearly breeds volatility and markets just simply cannot deal with uncertainty. i think your previous guests have made a very interesting observation. when wall street has a fire sale, nobody comes because they're scared to death. you know, we all hear about all the folks on the sidelines with a lot of cash. what we have been doing for two or three days is actually adding up all that cash and working on

our shopping list. this covid-19 thing is terrible but we have kind of been there, done that. we sort of know what to expect. the big risk is what's going to happen to the economy and i think a lot of lessons have been learned from what countries and states did in february and march. the other huge unknown, of course, is the election. depending on the scenario you come up with, you could paint a very ugly picture potentially. we just need to get through the next four or five trading days. the sell programs are agnostic. they don't care, they sell everything. i think folks just have to get to the sidelines, keep their powder dry. there's going to be some terrific opportunities here. just sit on your hands for a few more days. liz: okay. can i just point something out? frank, as we have had several guests over the past several weeks say you know what, sit this out but make sure you have a little exposure to europe, you

look at what happened in europe today. germany's dax index, their version of the dow jones industrials, or sort of an s&p, got absolutely hammered, down 4% after angela merkel, the prime minister said you know what, we are going to have to lock down bars and restaurants because of spiking covid cases. you can see the ftse down 2.5%. is there anywhere else aside from the u.s. or europe you like at this point? >> from an equity standpoint, i think some of the em areas are starting to look a little attractive, especially when you think of how policy, if the democrats do win and have a sweep, i think that's very dollar-negative. i think it will change how trade, the tone of trade is from kind of a unilateralist to multilateral approach on that front. i think that could be a positive for the em asset class. i think that's one i would actually be looking at through

this. liz: i'm just quickly checking the ten-year yield because we did start to see that move and as we wrap up here, yes, we are looking at the ten-year yield at .77%. it was just at .80% plus just a few days ago. that's that flight to quality. i know you know that. frank, teddy, scott, great to have you. thank you so much. we are watching the nasdaq in particular, down 345 points. but the transports are down even more, down 4%. now, in pandemic land, just as one stock should udders, anothe soars. the urge to bake and cook during the pandemic is sparking joy for tupperware investors. today's gains of 34% right now are already tacking on to the 235% year to date that the stock has already surged. the storage container maker beating quarterly sales and earnings estimates, pushing the stock to a year and a half high.

by that same logic, you would kind of think bed, bath & beyond would benefit from tupperware's good fortune. instead, that stock is plunging at this hour by 13.9%. the retailer forecasts fiscal year 2021 comp sales will be quote, stable. yeah, that's kind of saying honey, you look fine when she comes out in the fancy dress and the makeup. wall street does not like stable. they were expecting growth of 13%. also, bbby announced a share buy-back worth up to $675 million over the next three years would be in play. that's not helping. do we have any good news? bed, bath & beyond will invest $250 million in its e-commerce business after its online sales were an absolute winner during the quarter. that urge to buy online helping united parcel service, ups, as it delivered way more packages but the stock not reflecting the double digit spike in revenue and profit. it's down 8% partly because it's

getting swamped by the broader market selloff. but domestically, ups has had to hire thousands of workers, it saw lower margins and spent millions in order to expedite deliveries, all of which ate into profits. did you guys see the fireworks on capitol hill aimed right at the ceos of twitter, facebook and google? we are about to show you that. and is the coronavirus pandemic about to produce the nightmare before christmas? could new lockdowns keep barbie from ending up under your tree? or baby yoda? mattel's ceo with the view straight from toyland, next. he's making some big moves to make sure you get what you need or your kids do. with the closing bell ringing in 48 minutes, the dow swooning, down 819 points. the selloff solidly in play. oura gives us confidence.

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liz: breaking news. french president macron has just announced new lockdown measures. they will begin friday.

he says covid-19 cases are circulating more quickly than france had originally forecast. we're watching the nasdaq, the s&p and the dow right now to see if this takes it even lower here. nasdaq down 350. i want to let you know the low of the session is a loss of 397. while germany and france are preparing national lockdowns following similar moves in italy and spain, we should, if we can, look at the airlines right now. i'm going to guess they are really getting hit hard here. specifically, the three that fly to europe, american, delta and united airlines. but jetblue is getting hit the hardest, down 5.7%. we've got of course new cases here in the u.s. and hospitalizations setting records, specifically in the midwest. china reporting 42 new cases tuesday. that's the highest daily case toll in more than two months. china of course is one of the many countries that toy maker mattel manufactures and packages its products globally. with widespread production and

warehousing facilities spread across asia and north america, let's talk about how the maker of barbie dolls and baby yoda plans to cope as he and his team ramp up for the critical holiday shopping season. here in a fox business exclusive is the ceo of mattel, ynon kreiz. right off the bat, tell me how your supply chains are looking at the moment as we see this breaking news not just about france but germany as well. >> well, we believe we are very well positioned heading into the holiday season. our supply chain is working very well. i can tell you that the toy industry as a whole grew and continues to demonstrate its resilience in challenging economic times. many of the actions we took before the pandemic to reshape our operations are contributing to the success in our performance both in sales and profitability and in that regard, we are ahead of the game. so we actually outpaced the

industry, we gained share in the quarter and in fact, achieved our highest quarterly growth for mattel in the past ten years. so our strategy is working and we are very excited by consumer demand and the continuing momentum we have heading into the holiday season. liz: it is pretty stunning, the improvement your stock has seen during the covid quarter. i'm just interested to know because you do have exposure with your supply chain specifically in major parts of asia, whether it be thailand or china or india, malaysia, indonesia, we've got a map here we can show you. you are also in canada and mexico. but are you making any pivots, any tweaks to your chain as it does appear we might see this phase two of the covid virus rearing its very ugly head? >> we established supply chain as a competitive advantage for mattel. we are in the middle of a capitalized model which is about transforming our supply chain,

and really driving performance both in productivity as well as in cost and efficiency overall. in fact, much of the improvement you see in our gross margin that just hit 51%, up 1,000 basis points compared to 2017, is driven by the improvement we brought into supply chain and you know, we already rationalized this q count we make at the company, we reduce it by over 30%. we consolidated three factories in indonesia and mexico, china and are in the process of consolidating one more in canada. so all in all, we are making all the necessary steps to rationalize the footprint and achieve efficiency. liz: and you've got -- you sell half a billion hot wheel cars and i can only imagine, i'm holding one of the top sellers, you are expecting this holiday season, the baby yoda, but you

have a new baby yoda that is remote controlled from a wearable, as i understand it. will you be able to promise that people, if they order now, should they order now, so that they can get those toys under the tree or the hanukkah bush, no real thing, but for their holiday, whatever they celebrate? >> yes. we are working very closely with ourailail ptnstn on chalchaleeting ttingng exrdinexrdinexonsu consudemand heheadin tto holideason. ave s very veryongtrong sge in demanin dem ford od uct. what cominututf th cov covid id srupditison istha pe p focus fos on on qerly q prucpr b dsbrands, par p p priorrioreiz spen onng t thin inn in lengalleg eincoc tmices andces a ole,whole, the indtrndustr istr se a lngf ofmomeme.ntum. iththatththate dat wha w we ca to makee suree w haveurdu ononheonhe ron forpepe, chrichstmas homaor the

li yn,,, weeisehhououous a ofluck.. good moveses andnd cng ceses th supply chain. now it's coming home to roost. this covid crisis once again. we will be watching it. thank you so much. appreciate you coming on. >> thanks, liz. thank you. liz: president trump just touched down, we understand, in arizona after attempting or at least speaking to another group and placing blame on former vice president joe biden for the covid lockdowns. as both presidential candidates prepare to make their closing arguments to voters, we are about to get you the latest from the campaign trail on both sides, straight ahead. closing bell ringing in 38 minutes. dow jones industrials down 792 points. "the claman countdown" will be right back. journey requires liberty mutual. they customize your car insurance so you only pay for what you need. wow. that will save me lots of money. this game's boring. only pay for what you need. liberty. liberty. liberty. liberty.

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liz: t minus six days until election day. you are looking at a live

picture of the airport in bullhead city, arizona, where president trump is just now coming out of air force one. and you can see the crowd there waving to him. he will soon be holding the first of two rallies in the grand canyon state. then democratic vice presidential candidate kamala harris also stumping in arizona while her running mate, former vice president joe biden cast his vote with wife jill after delivering a speech in wilmington, delaware. we do have video of that, so you can see on both sides here, blake burman. it is the latest in the final lap of the campaign race and arizona clearly is a battleground state. reporter: it is indeed a battleground state. when you look at some of the numbers there, it could help explain the story why this is so close right now. let's start with the unemployment picture in that state. according to the labor department, it was a 10% unemployment rate, earlier in summer it ticked up to 10.7 but

there was a dramatic decrease in august and slight tick up in september to 6.7%, where they stand right now in the grand canyon state. significantly lower than the national average. however, arizona undoubtedly has been hit hard. the arizona chamber of commerce, for example, says the state lost $7 billion in visitor spending in the first six months of the year and state and local taxes dropped by $312 million. arizona, a state that republicans have won five consecutive presidential elections, but the polls show right now that joe biden might have a slim lead in that state. we heard from president trump as he was leaving for arizona earlier today and he said he feels good, live look right now at the president, he said he feels good about where things stand across the country. listen. >> we're really up in almost all of the states that we're talking about, most of the states. we're up even or very close and doing fantastically in florida,

doing fantastically in north carolina. i don't think anybody's ever seen enthusiasm like this. our voters are going to vote early but they're really going to vote on tuesday. they want to wait until tuesday. reporter: joe biden today received a covid-19 health briefing. he is criticizing the president for last night's rally in omaha, nebraska, in which hundreds of trump supporters were stranded for hours afterwards in freezing cold weather. biden says it's another example of the president's lack of leadership. >> he gets his photo op, then gets out. he leaves everyone else to suffer the consequence of his failure to make a responsible plan. it seems like he just doesn't care much about it. and the longer he's in charge, the more reckless he gets. it's enough. it's time to change. reporter: let's go back quickly to the live pictures of the president in arizona, liz. this is one of two stops for the president today, bullhead city. actually on the border of nevada as well so he kind of gets a two

for one there. arizona, by the way, the vice president's running mate, senator kamala harris, in that same state today. traditionally red. two of the four candidates in arizona at this moment. liz? liz: blake, it's ramping up and i didn't think it could get much more dramatic and exciting but it really has. thank you very much. folks, i just want to let you know, we are now going commercial-free because we do have a very broad-based rally that is rather significant at the moment. let's check the numbers here. we are off the lows, believe it or not. the dow is losing about 755 points. look at the dow transports. this encompasses not just the airlines but the railroads and the big delivery guys from fed ex to of course, ups. we already told you ups's stock is swooning at the moment. the transports all together now down 3.6%. that too is off the lows of the session. let's bring in more floor show traders. we are amassing all kinds of

people who know how these markets move in the final 30 minutes of trade. john gagliardi and phil flynn. john, you just heard blake talking about less than a week until the election, all areas of the market, all the major s&p sectors are selling off. but the vix is spiking. phil flynn, give me a sense of whether investors should be nervous here or buying. >> i mean, obviously they should be a little bit nervous because there's a lot of uncertainty. we just got some news about france that they will be locking down the country a little bit. the reason why the market's rallying after that is because they do have some certainty that there's going to be a little more flexible than the last one. french president macron just made some statements about the lockdown and it's interesting, when he said we are open to a lockdown but it will be more flexible. the market likes that. getting certainty in the market will help. there are some bargains down here right now. we are being driven right now by a lot of fear about a lot of

uncertainty, whether it's election, you know, whether it's the hurricane we are going to have in the gulf of mexico. there's so many things thrown at this market. when you see that shake to the highest level since june, you know people are selling things they shouldn't and they should sit tight. my bet right now, if we can bounce into the close here, you are probably going to be pretty good. but it's interesting, if you watch the market action today, we kind of came down dramatically early in the morning and we kind of flat-lined for most of the session, trying to build a little bit of a base. what that tells me is the market is seeing more profit taking on fears and waiting to see what's going to happen tomorrow. we have some big earnings coming out tomorrow. the big names, the big facebook, amazon, you name it, they are going to be coming back and if they deliver, you can see this market reverse very quickly.

if they disappoint, you will probably see some more selling. liz: we're looking at the exploration and the drillers looking very very ugly at the moment. john, the number one worry from when you talk about the plumbing of the markets, is there enough liquidity. do you have any concerns about that? we know the federal reserve has been on top of these markets and making sure that rates remain low and that they put all kinds of windows into place that are wide open to make sure the banks are still running smoothly, but are you seeing any kind of glitchinessthere? >> no. the beauty of american markets, we have the widest, deepest and most liquid markets in all of history. when you see this kind of volatility and every major stock and etf are still trading with [ inaudible ] you know american markets are as strong as they get. liz: tell me what you would be

looking at. >> i was just going to say that. whenever there's a period of selling like this, don't look for the weakness. look for the strength. let's look at ford's earnings after the hour. look at the industrials. this might just be healthy sector rotation. we might be seeing software selling off and a lot of technology names selling off which has led us this far. they have done a great job. but if those things sell off, we have to take a look around the rest of the market. home builders flat on the day. huge turnaround midday. that's telling us there are certain sectors that are going to outperform in this current market. liz: yeah. you know, that's an interesting point about the home builders. but very much in part because of the inventory squeeze. there hasn't been a lot of homes that people can buy even as they rush to do that. phil, the energy complex, we tackled that. gold is also falling. this is so strange to me. there is no flight to quality in

the yellow metal at the moment. why is that? >> you know, you see that a lot of time after the initial big selloff. we saw that actually the first time we had the covid lockdown. gold and silver actually got hammered. it becomes a situation where they are selling everything and people that have gold make crazy money to meet their margin calls in the stock market or other places. so you see that entire sector go down. but if you look at the bigger picture for gold, every time we have seen a stock market selloff crash in gold, generally speaking, when the markets come back, it's been gold that's led the market back up. you see that come back first many times before the stock market. i think that could happen again today. looking at that energy today, what else can you throw at that market, right? covid lockdowns, how many hurricanes this year? it's unbelievable. i feel so sorry for the people down in the gulf coast, the energy workers.

they have had a nightmare down there. we are shutting down production, bringing it back online, shutting it down again. you look at the inventory numbers, you can't get a real feel of what's going on. we saw some demand signs in that report but it just gets totally washed away when you are really battening down the hatches every couple weeks. liz: let's be very clear. so much of this selloff, we called it a flock of black swans landing on wall street swimming on wall and broad, but a lot of this has to do with the fact we have covid still controlling the markets, john. we don't have that vaccine yet. we can even look at some of the vaccine developers, pretty sure because i saw it earlier, many of them were down. moderna, lower by 5.7%. johnson & johnson, it's kind of stunning here, we had expected this to happen around election day or sometime by the end of this year.

these names do not reflect that at all. >> the tough thing about going with the vaccine companies, no one knows who's going to have the best vaccine or get the best distribution. there are other ways of playing the same concept either looking at health care, biotech in general, or even looking at who makes the antibodies and who makes the tests. those are the things that become very interesting. the reagents and the test, there's even a company that does that in the genomic sector. i'm looking at a lot of major testing companies, it's down a fraction. they are holding on pretty tight. there's always going to be pockets of strength -- liz: testing, sure. >> yeah. we're looking -- we want to look to the strongest names. let's see how this plays out. if we get a couple weeks of selling it's healthy and normal. we have been on a tear for months, six months we have been on a complete tear. so this might be the

opportunity. the irony is, every time i come on where there's a big selloff, my clients call me begging, john, there's just a 10% selloff, i would get back in. then when they're presented with the opportunity, they're saying are you crazy, look what's going on, i can't buy in now. liz: you have just put your finger on the psychology of people who are participants in this market. you've got to be gutsy and get in there. it's very hard to do. phil, john, we thank you very much. again, folks, we are commercial-free between now and the top of the hour because we do have a significant selloff although we are waiting to see if phil flynn's prediction of maybe a slight bounce maybe, we're not seeing it yet because the dow is still down 790 points or so. big tech going from first to worst. let's look at shares of twitter, facebook and google. they are all down 4% plus. google alphabet down 5% right now, trying to find a stronger

pulse. you can look at the intradays and they really have not looked good all day. little attempt to move higher off the floor but their ceos endured hours of blows on capitol hill from both sides of the aisle. here's some of it. >> do either one of you have any evidence that the "new york post" story is part of russian disinformation or that those e-mails aren't authentic? do any of you have any information whatsoever they're not authentic or they are russian disinformation? mr. dorsey? >> we don't. >> you have no -- so why would you censor it? why did you prevent that from being disseminate ordd on your platform that's supposed to be for the free expression of ideas, particularly true ideas? >> we believed it fell in our hacking materials policy. >> what evidence did you have that it was hacked? they weren't hacked. >> we judged the moment it looked like it was hacked material. >> you were wrong. >> what steps has facebook taken to assure that your platform is

not being used to promote more of this type of violence? >> we have strengthened our policies to prohibit any militarized social movement so any kind of militia like this, we have also banned conspiracy networks so qanon being the largest example of that. liz: yes, three of the most powerful ceos in the world, mark zuckerberg of facebook, google's sundar pichai and twitter's jack dorsey facing questioning by a senate commerce committee pushing for clarity on whether section 230 of the communications decency act which in essence shields internet companies from liability for user-generated content, whether that needs to be altered to put more responsibility on the companies themselves. what does it mean for the stocks, which have been real winners over the past year? wedbush securities managing director michael pachter and jay jacobs are here to weed through

all of this. michael, to you first. what jumped out at you? what do you think was the most significant moments here? >> i think it's theater so the timing of this probably should have been shortly after the 2016 election and possibly again after the 2018 election. when we heard a lot of misinformation and a lot of theoretically others tampering with our elections and posting false narrative, and the senate waited until the week before the election. i'd say probably three or four people on that panel won't be senators in another week. so cory gardner, for sure. it just seemed to me this was positioned to make noise in front of the election to let their constituents know that they're watching out for them and that's fine, i appreciate that the senators are trying to do their jobs, but this is something we should have done years ago. section 230 is a 1996 law. there's no chance in hell that

congress considered there would be google, facebook and twitter in 2020 when they wrote that law. so absolutely it needs to be amended but i think they are going about it the wrong way. they can't even get together and talk about stimulus so this is not exactly the highest priority in our country. so theater. it's just drama and they played it for drama and we are talking about it now so they are getting what they intended. liz: well, it is drama. not a tragedy or comedy, but true drama right now. jay, what about you? do you feel that what happened today will have a meaningful long-term effect on the stocks? >> what happened today has been known for awhile, there's increasing heat on these social media companies to regulate themselves or to be regulated by a government organization. we are seeing bipartisan support for more controls over social media. we are seeing watchdog agencies and other academia related people trying to say there's

something wrong going on here with social media. but the question is how does this impact the stocks? i'm not necessarily sure this has a negative impact on them. regulating content on social media platforms requires hundreds if not thousands of people reviewing content in a very systematic way. that raises the fixed costs of running a social media platform meaning it's going to be very hard for any outsider to compete in social media if that's the bar that's being raised. liz: michael, you just brought up senator corey gardner of colorado. i want to play this interchange between him and jack dorsey. he was pressing jack dorsey on flagging president trump's tweets but not very violent threatening tweets by one of the iranian leaders who threatened israel. let's listen. >> it's strange to me that you flagged the tweets from the president but haven't hidden the ayatollah's tweets on holocaust denial or calls to wipe israel

off the map. >> we don't have a policy against misinformation. we have a policy against misinformation in three categories, which are manipulated media, public health, specifically covid, and civic integrity and election interference and voter suppression. >> so somebody denying the murder of millions of people or instigating violence against a country's head of state is not categorically falling in any of those three misinformation or other categories twitter has? >> not misinformation. liz: not misinformation. michael, i look at this and i think to myself these guys are in trouble when it comes to figuring out how to please rational people who are wondering why, yes, president trump has put some very inflammatory tweets on there, but you are going to censor him and not the ayatollah? >> i actually think senator gardner is right. that's a good example of

what-aboutism, not censoring the ayatollah is not an excuse to not censor president trump. i think senator gardner is right. they should have censored the ayatollah. i think senator gardner's right that there are three areas they regulate, should be four or five or six. it's up to congress to tell them which areas they should take down. i think anything that incites violence should be taken down. i don't care if it's a public national leader or not. i agree with senator gardner. they need to be consistent but not being consistent doesn't mean that what president trump did was right or should have remained up. they should take it all down. i completely agree with that. it should be taken down. liz: well, inciting violence, we know in this country, you're really not supposed to do that. >> no. agreed. agreed. liz: let me play this interchange with senator tammy baldwin of michigan on eliminating posts that call for violence, whether it be outright or dog whistle type of violence. senator lee, rather.

>> can you name for me one high profile person or entity from a liberal ideology who you have censored and what particular action you took? >> there are certainly many examples that your democratic colleagues object to when fact checker might label something as false. >> i just want one. one name of one person or one entity. >> we have, you know, ads from priorities usa, from vice president biden's campaign, we have had compliance issues with the word socialist review which is a left-leaning publication. we can give you several examples. liz: okay. he came prepared. i will say. the other two were not. is one of these different from the other? i'm thinking google perhaps but their stock has taken the biggest hit at this hour.

>> they are all making this up on the fly because there's no external regulatory environment telling them exactly what they can and can't do. each social media company is taking a very different approach. the reality is, none of them have really been punished by their stake holders for what they have done so far. you are seeing phenomenal revenue growth across the social media. this year it's probably going to be 10%, 11%, 12% in a year when the s&p will shrink by 3% on a revenue basis. so advertisers aren't complaining. they are still growing users. the consumers and creators of thisishing them either. that's why you have a scattershot approach to regulation because these companies haven't had to face any sort of punishment for a lack of consistent regulation. liz: you know, i think michael, you have made an interesting point. none of these guys ever imagined the power they would hold in their hands, 2008. i sat down with three kids, that was stone, dorsey and williams, the founders of twitter.

they were like we can do 140 characters, it's just a way to talk. things have changed. michael, jay, thank you so much for joining us. to pick apart what was a very interesting moment on capitol hill today. i need to take you back to bullhead city, arizona, where president trump just began his first of two rallies today but as the markets crater and election day draws near, how are hedge funders preparing? charlie gasparino has the details on what this all means for the markets. charlie? charlie: am i on the air? liz: clap on. yeah. clap on, clap off, the clapper. charlie: am i live? liz: yes, go. [ laughter ] charlie: you know, i'm not going to go there. okay? anyway -- liz: the covid live shot.

charlie: you knew who i was going to bring up. i was doing real research in between before i thought i was going to be on the air. by the way, someone just e-mailed me start talking, please. here's the thing. every year at this time, hedge fund traders particularly, lots of money, billions of dollars on the line, trying to game plan the election. as you know, they were burned big-time and futures, when it looked like donald trump was going to win on election night, when it was starting to get baked in, the futures traded off violently and i think the futures were down like 900 points. there was clearly wrong way bets the last time. this time again, the polls show joe biden ahead. i will tell you that hedge fund traders i know, these are household names, they have been calling me trying to gauge my read on it, they are really

still up in the air as to who's going to win this. here's why. the national polls obviously show joe biden ahead. there is some tightening in the battleground states. but when these hedge fund guys, they have money to burn, start to scratch below the surface, look at more specific polls, they see some light at the end of the tunnel for trump, that there are ways he can pull out a victory in pennsylvania. there's a way he can pull out possibly a victory in michigan. they see the enthusiasm of his crowds. they are looking at specific polling of specific districts and areas that trended to trump the last time, are they trending this time and they see some pickup there in those battleground states and you know those battleground states. it's michigan, it's pennsylvania, it's wisconsin. but i think the big ones of michigan and pennsylvania that trump does have a shot at that, and they are looking at polling

data that really starts to show that there is light at the end of the tunnel. now, i'm not saying i endorse that. just so you know, i'm just reporting what the hedge fund guys are doing. i will say this. if biden -- if it was baked in that biden was going to win, okay, that these polls are right and i'm just looking at, you know, what some trades out there, and they're not always predictive but they are interesting, you would think solar panel stocks would be going through the roof right now. they are trading well off their highs, particularly a few of them. you would think that, for example, the preferred stock of fannie and freddie would be down dramatically because joe biden is going to stop all the reform efforts that trump is doing right now regarding fannie and freddie regarding a recapitalization that should help the preferred shares. those preferred shares are not down that much right now. they are off their highs but they are not getting crushed. liz: can i -- charlie --

charlie: there's something going on here. liz: let me say a couple of things here. i'm looking at sunworks, for example. it's up 118% year to date. charlie: look at the last couple months. that's kind of where -- liz: okay. all right. charlie: more recently these things are off their highs. liz: sunpower is up 29% quarter to date. charlie: how about look up nee. there are a few solar panels, i just looked them up -- liz: next era? i'm seeing green on the screen here. i'm looking at it. yeah. year to date it's up 23%. charlie: are you pulling up a one-month chart? liz: oh, one-month. okay. oh, up 7.5%. i'm looking. charlie: not one month.

liz: on a day where we are seeing a major selloff, solar edge, solar edge, first solar, it's green. charlie: you are going to see some green now and then but look at a chart that's longer than one day and these stocks are -- liz: hey, we are about the trade. we don't care about, i mean, yeah, sure, here's a one-month picture for next era. 7%. charlie: i see -- liz: you know -- charlie: unless my computer is different than yours, it's not what it's saying on mine. liz: my computer is better than yours. okay. charlie, go back to your research. charlie: you would expect -- liz: i'm going to install a clapper. charlie: you would expect these stocks to be up more. there is something going on here with trading. okay? they do not have the trading community convinced that biden's going to win.

liz: let me just bring in john gagliardi, our trader. do you agree with what charlie said as far as flows are concerned? oh, phil flynn. i do need -- you know what, i do need, phil, a clapper for everybody's live shot here. all right. >> yeah. liz: okay, so -- >> the stocks have had an incredible run. i think part of it's about the election but part of it is about the fact we are going to see better efficiencies in solar, you know, in the future. so people are betting big and if biden gets in, that would be positive. obviously those stocks have been very very volatile. i keep reminding people, when you look at solar, and everybody thinks well, solaris going to replace traditional energy sources, you have to consider the fact, to produce the same amount of energy that you would get out of a natural gas plant or nuclear plant, the land mass

is like 300%, 400% more land mass -- liz: yeah, but dan brouillette was on this show a few days ago and he said the trump administration has been looking at a check all of the above boxes. so it's not as if we are looking at a situation where they are somehow trying to crimp solar and perhaps that is part of the reason we are seeing some of these solar names look strong on a day like today. look at first solar, up 13.25%. phil, thanks for weighing in there. folks, i just need to check the dow here. we are down nearly 900 points at the moment. down 894. we are seeing this wide selloff here, and the bears are coming out with claws bared but the earnings parade continues after the bell. maybe some of these names will pull a rabbit out of a hat and look very strong and change the narrative for the markets tomorrow. we are talking about amgen, gilead, a.

giants, ford, and of course, visa. let's go to cheryl casone in the fox business newsroom. with a close look at key names here. reporter: visa, liz, dow component that could change things a little bit. we have to look for good news, right? a key report of interest will be coming from ford. estimate for 19 cents a share on earnings. 33.5 billion in revenue in the quarter. ford's overall u.s. sales were down 5% from last year. ford trucks and commercial vans and as well. in china ford sales are slipping. we'll look for updated commentary on that market, china market. in europe, likely see similar sales story for the united states. it will be commercial vehicles performing well there. analysts believe the outlook from the automaker might be coming in cautious, that we'll get a signal from ford, the fourth quarter of this year could see losses. stand by for that earnings report. dow component visa, expectations, 1.09 earnings per

share. revenue at five billion even. that would be a loss of 18% year-over-year if revenue side of that proves true. transactions on update on $5.3 billion deal fintech played will be particular interest. the justice department seems ready to launch a antitrust suit to block the deal. that is according to the journal. visa on the screen. played connects financial data to services. mastercard they're trying to expand in mobile payments, mobile offerings. justice department may block visa on this one. master ward before the belle. disappointing earnings from mastercard. that hurt visa during the day. everything is red. everything is hurt. take your pick or your pain. going into the close. liz: we're at session lows for all four major indices, particularly as you turn your attention to these numbers here. the nasdaq is down 422 points. for a loss of 3.7%.

the dow down 941 and the s&p getting clocked down 119 points. in times of market uncertainty we know that a lot of you investors flock to the basic necessity sectors like consumer staples, health care but today's closer says look at business staples. even on a day like today, tim chubb? you're over there at girard, 3.8 billion of assets undermanagement. tell me? >> liz on days like today, so far we'll what we've seen on this week investor have to have the shopping list available. companies have gone too far too fast. ultimately businesses with the secular growth industry, sustainable competitive advantages, financially sound, now is the time for looking at some companies that really are the forefront of the future of work, what that new ecosystem looks like. when we have seen -- liz: such as. >> go ahead.

liz: such as? we're now looking virtual desktop, enterprise security, customer relations management, thinking of names adjusted to these things. >> a good place to start what companies or what services can businesses no longer live without with the future. enterprise security is top of that list. the average company was in the s&p has 47 different cybersecurity applications. there is a lot of different opportunity there. with more and more workers working from home, working remotely, even when things get back to normal, like you said, virtual desktop infrastructure is piggyback on the cloud. with cfos from recent gartner survey from april, 75% of them are looking at having their workforce work permanently from home at some point. having security, virtual desktop infrastructure in conjunction with cloud will remain important. same thing on the crm side of things as companies continue to navigate from brick-and-mortar.

look at the customer footprint from the digital perspective as well. [closing bell] liz: tim chubb of girard. that is the closing bell. we close out a rough session at the lows. the dow is losing 959 points and dropping. ♪. connell: new limitations on business. stocks plunging throughout the day as coronavirus cases have been spiking across the united states and in europe. that is fueling fears of another round of lockdowns. we're already seeing in europe. i'm connell mcshane. this is "after the bell." the dow down 941 points at the close at the lowest level since july. the s&p and the nasdaq closing at one-month lows. investors indeed are closing watching that situation in europe and wondering what might be coming our way here in the united states. national lockdown set to begin in france on friday. plus germany earlier in the day plans