some final keith fitzgerald words of wisdom to get us through this last hour. >> number one, always sit in an exit row because you've got to be prepared for the unexpected. charles: okay. >> number two, always play offense -- charles: we've got to leave it at number one, keith. and i've got to hand it over to liz claman. we have made some progress off the lows of the day. part of this is, my opinion, part of this is straight up wall street temper tantrum, and part of it is jerome powell ineffectively communicating. [laughter] liz: well, yeah, and what didn't he communicate? what has happened? around 12:56 p.m. eastern the nasdaq, folks, dipped into correction territory falling 10% from its recent highs set back on february 12th. we're a back out of that now the, but this may be the first time since jay powell has run the federal reserve that the markets think he may just be soft pedaling what's really going on with inflation. right now you can see the nasdaq

is down 216. to be in correction territory, it has to be down 311 points. investors are bailing out of some of the hottest names, zoom to okta, we'll get you all of the laggards. butwhat paul did and did not sa- powell did and did not say. president biden is meeting with bipartisan lawmakers, the $2 trillion infrastructure bill, is that ready to follow the nearly $2 trillion stimulus bill that's being discussed in the senate today? we're going the a take you straight to capitol hill for the breaking details. clean energy could very well be a part of that infrastructure bill, but as oil pops above $64 per barrel, settling just below it, big oil is already trying to get clean. we'll talk to the former ceo of nrg, david crane, who was way ahead of his time on this.

his spac target has the biggest market share in the electric car-charging space. and big apple real estate took just a pounding during the pandemic, but are homeowners about to come flocking back to the city? we will ask million dollar listing star ryan sirhan whether the best prices have already left the building, just like elvis. we need to get to exactly what chair powell said this afternoon that triggered a spike in the 10-year yield from 1.46% this afternoon to 1.55% right now. it might have been this on the recent spike in bond yields, listen. >> it was something that was notable and caught my attention. but again, it's a broad range of financial conditions that we're looking at, and that's really the key. it's many things, and we want to see -- and we'd be concerned if we doesn't see -- disorderly conditions, orderly conditions

in markets, and we don't want to see a or persistent tightening in broader -- we think it's unlikely that these deeply-ingrained lower expectations would suddenly change. it is more likely that they would be one-time effects of the fiscal boost fade. liz: is this powell's seemingly inability, refusal maybe, to admit that inflation might be rising and here the stay for a while? that may have been what sent the markets tumbling. right now the nasdaq, dow and s&p are all in the red but well off the lows. the nasdaq did officially turn negative for the year, it is back out of -- well, are we there? no, we are back out of correction territory, but let us bring in our floor show trade thers, kenny and phil flynn. ken first listen, nobody should panic, the nasdaq is still up about 85% since the pandemic lows, but it kind of feels like powell is hunting for a reason

to avoid acknowledging prices climbing and investors see through that. but how serious do you take this move into correction territory earlier today for the nasdaq? >> i think you're right. listen, i think i've been expecting it, i've been talking about a 7-9% correction in the broader market by the s&p, nasdaq certainly because it has so outperformed, you would expect it's going to get hit harder. as i expect the s&p to get weaker, the nasdaq is going to take9 another leg down. that doesn't mean it's going to crash because the fed is still there, right? there is still, ultimately, a floor underneath the market, but i don't think it's over by any stretch yet, and i think part of what he said today was putting up some guardrails, right? he started talking about when they might think about changing rates although he tried to reassure everybody, well, we're not there yet, but if this were to happen, that would cause us to do this. and this idea that he's not acknowledging what the rest of us see in terms of broader inflationary pressures.

it's amazing to me, but i think that the market's in for some volatility and, no, i don't think it's over yet. liz: i mean, phil, i'm sorry, the 10-year yield, so i meant to say this morning, this morning i look at it, because i always do at the first crack of dawn here, right? it was at 1.46%. then we got as high as 1.54%. and here we are at 1 is.552% -- 1.552%. i mean, who are we kidding here? this is not necessarily the worst thing in the world, it just means we're seeing a more stable situation, the dollar is strengthening, we do see oil moving higher, but i really need you to tackle what happened with the nasdaq. we can look at some of the laggards that got hit the hardest, the qqqs, and how you're absorbing this information that we see today and the behavior of investors. >> well, the first thing you've got to say is when they asked chairman powell whether he noticed the move in the bond markets, no, i didn't see anything, what happened? [laughter] as soon as he said, hey, it

caught my attention, everybody's like, wait a second, it caught his attention. that means that the fed is talking about this. he even said the word taper. a fed chairman should never use that word. [laughter] use some other word, okay? i think i was the first person to say temper tantrum, i'm not sure, but anyway, that's a different story. yeah, i think, obviously, you're right. the bond yields going up is actually a normal market. i mean, if you look at the economy's supposedly recover, that's probably the healthy sign. you know, the concern is if yields get out of control with all the debt we're talking about, with the potential stimulus, you know, we might not ever be able to pay that back. so i think that's what powell is saying. there have been some transitory issues on inflation that he thinks are are going to go away. i'm not so sure they are. you know, take a look at oil today -- liz: exactly. >> you know, i think we have inflation coming back.

but, hey, that's what the fed has wanted for some time, you know? sometimes you've got to be careful what you ask for, because if things start getting out of control with the type of debt, now we're talking about this huge infrastructure plan from biden and pete buttigieg, you know, it's going to be a lot of money. and if money gets more expensive, it's going to be real tough. liz: well, kenny, that was the word, transitory, which for those of you who need a little refresher, it means not permanent. he wishes it weren't permanent. >> right. liz: but it may very well be back to normal. it's not the worst thing to have some permanence there. what are you buying on a day like this, kenny? >> i think you've got to look at some of the names -- besides the fact most of the sectors are down, you've got to look at energy, industrial names. industrials are weaker today, but i think there's opportunity in some of the big industrial names. you just said or charles payne said he's hearing that energy has oil at $100 a barrel.

i certainly see oil holding here, and i think that's going to be good. i also like other parts of the tech state, i like the semiconductors, i like internet of things. separate from the fang names because, look, tech is more than just five stocks in the fang room, absolutely. so i think there is opportunity there. i like, certainly, always consumer staples, they're not sexy al at all, but they're safe. discretionary, that's getting clocked today, as it should, in this rising rate environment, the fact that there's all this nervousness kind of simmering right under the surface. liz: yes. and we say to all of our viewers, we have a shortage in semis, the semiconductors are cheaper today. we know there's a shortage, there may be great demand for these things, so things are less expensive. kenny, phil, we've got to run. love you guys, thank you so very much. check the dow, we are down by about 386 points. we were down more than 700

earlier. all right, we're looking live at the white house where president joe biden is meeting with republican lawmakers to discuss the future of u.s. infrastructure, right? one gop source telling fox business that any bill president biden presents will need to be a true transportation bill. not just a climate change bill in disguise, quote. we head to washington, d.c. and hillary vaughn. history, what are we learning? >> reporter: liz, president biden is not afraid to spend big especially on something like infrastructure which is a top priority for his administration. but he -- and he's not afraid to spend a ton of money because he thinks, ultimately, it will pay off. >> this not only creates jobs, but it make us us a hell of a lot more competitive around the world if we have the best infrastructure in the world. >> reporter: biden's target price tag right now, $2 trillion for his infrastructure package, but he says it will create over a million new jobs, putting people get to work a green

makeover, repairing bridges, qualm grading energy grids and delivering broadband. biden's infrastructure plan will help him deliver on his aggressive promise to cut down on carbon emissions by 2035, give u.s. cities with over 100,000 are residents access to zero emissions public transportation and also build half a million electric charging stations. but republicans in the meeting right now are concerned that biden's infrastructure package could be more about being clean than actually about infrastructure. a republican source directly familiar with this meeting tells me they want this to be a true transportation bill, not a climate change bill with some transportation in it. they also want to make sure it is not all about big cities and that rural areas are not left behind. a source familiar tells me this is a sore spot with republicans in the meeting with bidenned today because the transportation

piece of the current covid package, the 30 billion allocated for that, mostly went to urban areas. a republican amendment to try to change that in the democratic-controlled house was shut down, but it's not just what's in it that some republicans are keeping an eye on, liz. they also are concerned about this turning into a multitrillion-size package. they want to know exactly how he is going to pay for every penny he is going to spend. liz? liz: yeah. taxpayers want to always know that. we want to know where our money's going. hillary, thank you very much. okay, you guys, this is important. as the government talks about getting on the green infrastructure track, big to oil has already hoisted one arm and a leg aboard the clean tech train. the dramatic move exxonmobil's just made. and we'll get response from former nrg ceo david crane. he's here with his thoughts and details on a clean energy spac he runs that has just tied up with an electric vehicle

charging station company that owns the -- very big there. closing bell ringing in 50, let's call it 49 minutes. let me be clear here, the nasdaq earlier dipped into correction territory. we are out of it now, but it looks like we're heading back down. we will keep you posted tick by tick. don't go away. ♪ ♪ metastatic breast cancer is relentless, but i'm relentless every day. and having more days is possible with verzenio, proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for women with hr+, her2- metastatic breast cancer

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no, buddy! buddy, it's a filter! only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ ♪ ♪ liz: okay, so you just heard from hillary vaughn that the government is looking to race to keep up with the clean energy movement. the private sector is already on the job starting with, of all groups, the oil majors. investors apparently appear to love the moving son mobile just made. exxonmobil just made. even as the dow falls, you know, pretty significantly, down 475 points if you're looking at points here, exxonmobil's stock on a red market day is up 2.6% after the company announced it's welcoming activist investor jeff oven to its board. his entire focus has been on renewables. royal dutch shell announced it will cut production of

traditional fuels by 55% over the next decade and build out ev charging stations at the same time, and schlumberger, chevron and microsoft are partnering on a carbon capture project in california. to the man now who was way ahead of his time when it came to green tech in big utility, you know, fossil fuel world, david crane actually got fired from his job as ceo of nrg back in 2015 in part for pushing to embrace clean energy. dade's now the ceo of a spac which just made an important acquisition. nurse, your reaction to the break -- first, your reaction to the breaking news out of d.c. >> about the fact that they're talking about an infrastructure bill? i thought you were going to ask me about jeff oven who's a force of nature. liz: that too. >> that's an amazing step that exxon is taking, and you'll see big changes there. but the idea that there would be an infrastructure bill and that it will have a green tint to it, i mean, it's fan tarsic news. --

fantastic news. as you said, the private sector's already moving in this direction. you know, i, you know, the trump administration at the beginning talked about an infrastructure bill and never proposed one. the obama administration at the beginning did not put infrastructure at the same level of priority as health care and natural restructuring. so i'm very excited about it. but right now we're focused on the fact that the private sector is getting there the on their own. and if the government chooses to push us forward, that's all good. liz: well, yeah. you know, most of the oil patch right now looks really strong in part because opec announced that it is going to continue to extend production cuts into april. is crude oil spiked to its highest in two years. that's where it closed. we do see it just slightly off the highs in the aftermarket session. you talk about big oil's direction here, they found that

path, and they discovered that it was the right business move. but let's get to this mobile, exxonmobil situation with jeff oven. people need to know exactly what his background is and that that has been his very focus, green energy. and this isn't, it appears, a situation where exxon wants to just keep him quiet, put him on the board. the board now has to deal with the realities that the world sees at the moment. but let's talk a bit about the realities. there are still, if percentages are concerned, very few electric vehicles on the roads today. when do we see a big move on that? >> well, you're right, i think it's 1-3% depending on what market you're in. but the market leader in terms of ev penetration is norway, and i think they're up to 30 or 40%. so so it is good that the price of oil now is robust, but the future is alternative energy vehicles. i think, in my case i think plug-in electric vehicles for

light duty and probably hydrogen for heavy duty. and when you look at the oil companies, it's telling that they still refer to themselves by what they want to produce rather e than what energy consumers want to consume which is, you know, they call themselves oil and gas, but energy consumers want, you know, energy that's safe, affordable, reliable but also is zero carbon. and so i think this is a huge step, putting ubben on the board. i mean, his basic value proposition is that incumbent energy producers create shareholder value by going green as to opposed to slow-walking or resisting it. so i think you're going to see a lot of news, a lot of green news coming out of exxonmobil in the not too distant future, and i think that's a great sign. liz: okay. i just want our viewers to know the nasdaq has now dipped back into correction territory. the key number we need to see is down 311 points, we're down 320.

david, your spac has just announced that it is going to pick -- it's picked its target, and that is evgo which is the market share leader in fast-charging electric vehicle network stations. so talk to me about where you see this going and how you ramp up over the next let's call it two decades. >> well, thanks, liz. you know, evgo, as you say, is the largest fast charging network in the united states. obviously, as there's greater increased market penetration of electric vehicles, people are going to have to charge them. and so not only is that market going to expand, but the fast charging in public portion of the overall charging market is going to grow over time as people get more comfortable with driving their electric vehicles further. so we could be -- we couldn't be more excited about evgo and we think that it's, you know, a

high double-digit growth through 2030, and then it just keeps growing after that in terms of the market opportunity. so it's very exciting to us. liz: all right. we'll be watching when it goes -- when it actually makes the blank check merge. and you've got a second spac, come back and we'll talk about that. david, great to have you. thank you very much. >> thank you for having me, liz. liz: all right, everybody. the senate has just debated, just begun debate because vice president harris has just broken the tie, so we've got the motion to formally start debate on president biden's $1.9 trillion covid-19 relief bill. again, it passed 51-50. as i said, vp camilla maris stepped -- kamala harris stepped in to formally break the tie to start the debate. ron johnson is expected to force, in essence, a full reading of the 600-plus-page bill before the clock starts to count down on the 20 hours of debate.

normally you would just read the headline. senator johnson is going to force the reading of all 600 pages. that could be 20 hours of debate and much of it used up there. very interesting moves here. we're watching the markets. nasdaq right there in correction territory at the moment. when we come back, so much more straight ahead, we've got charlie gasparino, we've got the million dollar listing star, all kinds of news happening. dow is down 485, we're coming right back. ♪ ♪ how great is it that we get to tell everybody how liberty mutual customizes your car insurance so you only pay for what you need? i mean it... oh, sorry... [ laughter ] woops! [ laughter ] good evening! meow! nope. oh... what? i'm an emu! ah ha ha. no, buddy! buddy, it's a filter! only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

liz: a wall street bets m if eme stok had a pretty good morning but is swooning now. investors were flocking to tang gore factory outlet, but you can see that the stock -- we'll really show an intraday -- is now down 4.3%. trading focused social media sites like reddit were seeing

very positive interest in a start squeeze as tangor is among one of the most heavily shorted u.s. stocks. for the moment it did work and then it suddenly didn't. tangor is now standing at about $16.96, down 4.4%. gamestop and amc, it's important to show -- there's the intraday for tangor. reddit darling gapestop is up -- gamestop is up 9.5% on a very down day in the markets. but look at amc. ing even as new york city announces it will reopen movie theaters at partial capacity starting tomorrow, amc is down about .6%. now, wall street bets stock twists and twitter are getting scrubbed daily. that means a.i. is looking for any mention of certain stock names, and this is happening thanks to a newly-launched etf called bennett vectors social

sentiment etf trading under the ticker symbol buzz, right? and barstool sports founder dave portnoy's endorsement not enough to buoy the fund whose top holding today includes twitter, draftkings, ford and as we looked at buzz at the moment, all of those names are moving lower. okay. square at this hour also moving lower after buying a majority stake in jay-z's streaming music companied tidal. he will join square's board of directors. jack dorsey's digital payments company is going to pay about $297 million in a mix of cash and stock for tidal. okta shares struggling premarket and all the way through today's session after the identity management company agreed to acquire its rival for about $6.5 billion, this is an all-transaction. okta's down 4.7% even though it

beat on earnings and revenue also came in with some soft guidance and questions about the deal price, so that is what's weighing on the stock right now. a consortium of leaders in crypto hoping to have the ear of president biden's staff. will they get it? charlie gasparino has details on how they're trying to make that happen. >> liz, i don't know what bitcoin is doing today, but the -- liz: it's down. >> it's down or up? liz: it's down. >> okay, it's down. as you know, it's been going gangbusters, and the growing acceptance of cryptocurrencies, block chain technology has caught the eye of the biden administration, everyone from janet yellen to the incoming sec chief gary gensler is talking about incoming regulation, doing something to make sure the public is safe and knows what it's getting into when it buys the stuff, when it engages in cryptocurrent city. because of that, the

cryptocurrency's main location is saying it's aiming to meet with key members of the biden administration to try to convince them to hold their horses on regulation and trying to change the reputation of bitcoin and block chain and cryptocurrencies from, as they put it, that it goes beyond financing a criminal enterprise. that's a quote from an executive at the block chain association. so they're planning to meet with top people inside the biden administration to prove their case. the people they're aiming to meet with -- and from what i understand, they are working to schedule a meeting -- is with janet yellen, the treasury secretary, who's had some harsh comments about cryptocurrency, and a former blackrock executive who is the acting deputy treasury secretary who's essentially in charge of this space of the financing world.

they're trying to get meetings with them, trying to press their case with them. they are worried that regulation is coming down the pike. and it's interesting, you know, most, as you know, most wall street and major industries do have a trade group that meets with, that meets with policymakers. so in a sense, this is not unusual, but it is coming at a very interesting time when cryptocurrency is becoming a huge focal point of regulation and gaining wider acceptance in many parts of the business world. so that's what's going on, liz, on a down day. cryptocurrency people are looking up, so to speak. back to you. liz: charlie, thank thank you s. and we're looking at all kinds of companies that do, of course, now take bitcoin, everything from tesla to microsoft. alas, we are back out of correction territory.

it has been a wild sort of ride in the red for the nasdaq at the moment. but as we look at the coronavirus pandemic, one thing for sure, it sent homeowners rushing out of big me rob lis -- metropolis, but are we about to see them rushing back in? ryan sirhan, star of million dollar listing: new york, is here on whether the best pickings have already been picked or whether there's still some deals. and at a 15 years old a guy named george day founded gt's living foods. he dropped out of beverly hills high school to grow his empire out of his parents' kitchen. 25 years later his health tea is everywhere. it's on shelves at walmart, whole foods, you've got to hear what he was up against. his best friend and his father both warned him, don't do this. it's going to be a mess. thank goodness he didn't listen.

his story revealed in my latest everyone talks to liz on spotify, apple podcast, wherever you get your podcasts. closing bell ringing in about 26 minutes. please come back, we've got to see how this ends with the nasdaq. stay tuned, we're coming right back. ♪ ♪ a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity.

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listing their homes, we figured who better to bring in than the star of million dollar listing: new york, ryan sirhan. ryan, you've got to tell us what's going on herement not just the uber high luxury real estate, but sort of the lower end luxury real estate and whether the best prices are already in the rearview mirror. >> look at gold. look at bitcoin. there is a hedge against traditional equities and assets, and we're seeing a lot of that right now in real estate. for the first time since, i think, 2006. we are now seeing clients say to us as brokers i just need to put my money into real estate. i have never had that in my entire career, and i got started the day that lehman brothers filed for bankruptcy. that was my first day. [laughter] liz: hard to to open up, ryan.

>> new york city where we're based, and i'm talking to you from my office in tribeca, is still a buyer's market, but the market in new york city which was probably the worst it's ever been last summer where we were doing deals at 50% off, we sold an apartment had 157 west 57th, i represented the buyer, the seller paid $34 million, my buyer paid just under 17. finish and we also did deals where basically any seller in manhattan in 2020 had to be prepared to take a loss. now there are more contracts signed in february in new york city than in any february since they started keeping records about contracts being signed which predates 2000. liz: wow. >> which shows you that people are now starting to come back, which is what we always said. liz: we know in january that rents are down 17% in new york city from last year, home prices down 20%. you know, when do you think do you think that the it really is

too late and we're back at prepandemic levels? i say too late for the buyers out there. >> if you're a buyer, you're looking at manhattan. i think if you can make a decision now, you will really, really thank yourself. and your future self will thank you. but you could probably still get a relatively good deal by the fall. i think in six months we're quick to be having very different conversations in manhattan, because you have to remember the rest of the country is in the hottest real estate market the country has ever experienced. average days on market is six. there is no inventory -- liz: really? >> sellers don't know where to sell, they don't know where to go. we have agents everywhere, and they're having a good time because they sell any house they have, but it's also difficult because transaction volume is starting to get less and less because sellers don't have a place to go. but in luxury secondary markets, the sky is really the limit. and i don't see it coming down

anytime soon because where else are people going to go? where else are they going to put their money? and real estate is, to most people if you have the time and the patience, it's always safe. it's only not safe if you must sell at any specific time. liz: so let's talk a little bit about some of the big properties that have just either been on the market or have actually sold. you've got ellen degeneres finally selling, but she flips and rehabs homes all the time. this has been a passion of hers. she's got wunsch her beverly hills home, $53.5 million. she is listing that at the moment. you look at something like a 50 -- who can buy $53 million houses? maybe there's so many bitcoin millionaires out there, jeffrey epstein's former manages just sold -- mansion just sold for $50 million million.

if people don't mind saying, you know when? we bought this place this guy lived in. but tell me the sense you're getting about the big, gigantic properties throughout and how quickly they do move. >> well, i mean, we just sold a second -- i just sold the second most expensive home in the history of the united states in florida, in palm beach. it closed a couple weeks ago for just under $140 million. and we sold it in one day. and what i'm seeing is that there's a section of -- liz: who? who bought it? can you say who bought it? >> it's public. i mean, you can look it up, but it was -- there's a lot of finance executives who are out there who are looking to be in low-tax states. florida hasn't even seen the appreciation that we're going to be talking about in two, three years because people are just being run out of new york,

they're being run out of california from making money. so they're going to go to low-tax states because covid has taught them they don't need to be in a high-tack state every day to make their living. and i will tell you, the united states has still not -- up until last year, it's still not fully recovered from 2008 when it comes to real estate. if you look at the numbers, most people still haven't really moved. they've only moved out of need. they had a baby, they're moving from a job, they're just getting too cramped. but all of the speculative, exciting purchases, really what fuels the stock market, right? oh, i could make money there, let me go buy that. it hasn't been active in the united states since 2007. and it now is back. because 2020 was a, you know, $6 trillion p.r. campaign for the value of residential housing? no one was told to stay under their desk.

no one was told to stay in their car. and so housing got put on everyone's mind including and especially the wealthy. liz: yeah. >> and so they've been -- where else are they, where else are they going to buy? what else are they going to put their money into? liz: oh, chocolate for me, tie mondays for me -- [laughter] ryan -- >> and they're buying those too in record numbers. liz: indeed. ryan's got a brand new book out. great to see you, ryan. ryan serhant of million dollar listing new york. we are coming right back. ♪

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♪ ♪ liz: could thursday night football be about to find a new

home? the national football league set to sign new rights deals with media partners as early as this week, and according to "the wall street journal," a big winner could be amazon. now, while amazon has been streaming thursday night games, fox has actually had the thursday night games. but the word is that it could be exclusively going to amazon rhyme video platform -- prime video platform and will not be available on traditional t outside the markets for the teams paying. the deal won't take effect until after the 2022 season. so amazon down about two-thirds of a percent and fox also down slightly at this hour. speaking of the traditional networks, new deals could see them pay as much as double as their current run rate and could run for as long as 11 years, so we've got viacom cbs up 4.25% along with everything spn owner,

doesny. and we can see that comcast is up a third of a percent if, disney's down 2.25%. let us get to regulation of social media. now, while youtube is not in the game at least the for the mix of nfl games, its ceo sat down for a rare conversation, she really doesn't do a lot of interviews here, but just two hours ago we listened to the conversation she had with the atlantic council. and here's what she had to say about government regulation. >> the most egregious content, i think there's general agreement we want to remove it, governments want to remove it. they have some very clear laws about content that is illegal. but what i would say the challenge has really been has been content that's harmful but legal. i am concerned about government's ability to move quickly, i'm also concerned about some of the chilling effects when government starts overregulating speech and what the implications for that would be. liz: well.

see, let's bring in larry kudlow of "kudlow" on fox business. larry, she's right. i mean, we understand that there has to be some type of regulation. things have gotten completely out of control. but, you know, this is a very, very delicate dance that government regulators have to pull off when it comes to social media and free speech. how do they do it? the. larry: poorly. that's probably how they'll do it, poorly. [laughter] look, youtube, by the way, is just as guilty as the others. what did i read today? they're going to make a decision whether they'll let president trump back on youtube -- liz: right. she talked about that. >> he's a former president who was acquitted, blah, blah, blah. i don't want to relitigate that, i'm just saying that kind of power should not reside in anybody. we're a nation of free speech, or we used to be, and that's what i favor. now, if they're going to act liked to haves, liz, and publishers -- editors, liz, and publishers, that's a different story. that gets you back to section

230 of the indecency law in which the liability shields should be removed, and i believe that's the case. liz: well, a huge number of people get their news from facebook. so facebook can no longer say, oh, we're just a platform, and everything -- they are a news provider, they are an information provider. she did actually bring up what was going on with the donald trump channel. okay, so they had removed it, and basically she said that they will lift that ban on the youtube channel when they feel that the dangerous situation according to the government is over and, of course, today on capitol hill there were all kinds of concerns that today was some sort of day where you know, the capitol hill rioters were going to try and come back -- larry: so, what, they're going to implicate the former president. see, that's the kind of nonsense that i can't stand. and by the way, so i get it, a lot of people do not like former president trump, do not like

him. but that doesn't mean he shouldn't be on the air or on youtube or twitter, right? there's a loot of people -- a lot of people on twitter and youtube that i don't right, but, you know, it's a free speech country. we report, you decide. it's not up to these people, these little junior varsity type people to make these type of society-wide decisions. i don't like that. don't like it one bit. free speech is free speech -- liz: well, larry, you've got big guests at the top of the hour. there you go. you've got senator joni ernst along with a bunch of other great guests. larry: thanks, liz. liz: anytime. okay, so we are not taking a break here, right? we know that the closing bell is ringing six minutes away, and because the nasdaq is close enough to correction territory, although we're not there yet at the moment, we're going to blow up this final commercial break and watch it.

nasdaq needs to be down 311 points, 10% lower larry: a rough day for the markets. we're at lows of market. there is always a trade. let's go to edward lawrence. reporter: nasdaq down 10% from the record high after federal reserve chairman jerome powell spoke. the markets, spoke to the markets about long-term bond yields and inflation. the nasdaq wiped out all of the year-to-date gains and biggest laggards in the index, are tech and industrials. look at some of these darlings. look at shopify. it rose 200% last year. that firm is one that helps companies with e-commerce. it is down today.

look at intraday. down 6%. down 6.24%. crowdstrike, again. it is down 8% today. retailers in the online space deeing down days. talking about target, seeing 2 1/2% off. not in the tech space. they're doing a lot of on-line buying. you were talking about social media. twitter has been darling of recent for the tech stocks. it is down more than 5%. going on 6% today. one year ago that stock was at $54.53. still up from that, but sliding on the downside. february 12th was a record high. looking at number. 311 is the correction territory you were talking about. liz? liz: we're down, 297.

i'm feeling it. stay with us. thanks, edward. 2021 has been already such a wild ride. it has been a wild roller coaster ride. today's "countdown" closer says you know as we emerge from the pandemic he has the stocks that will give your portfolio some loop loops. tony is senior wealth advisor at strategic wealth partners joining us now. tony what do you love in this space for reopen >> three reasons why i love the space. money hitting bank accounts from stimulus. everyone is sick and tired of sitting around the house. we're seeing the vaccine is highly effective. we're warming up to the travel and vacation stocks. we like significance flags on reopen trade. right now a lot of reopen stocks like hotels and restaurants hit all-time highs. six flags is trading at pre-open

levels. we feel six flags is a laggard in the reopen trade. it is about regional amusement parks. there will be a fear of travel because of covid. it will still linger around peoples feelings. i think you can hop in a car, go to a regional amusement park, stay away from airlines and everyone will feel safer. liz: this is a stock, year-over-year it is up 101%. i get where you're going saying at pre-covid levels but you think it will jump. let me bring in your second picks stamps.com, what do you see here for this one? >> stamps.com is an e-commerce play and here to stay. covid created this addiction to online shopping. stamps provides logistics, track also helps find the cheapest carriers for small business. stamps came out and had a

blowout quarter. the problem they did not give any forward guidance. 9 stock market has been crushing those stocks that don't give guidance. this stock is down 30%. it is completely self-inflicted. liz: i got to ask you, tony, nasdaq down 272, third day straight of double, triple digit moves to the downside. are you concerned at all about this move? or you say, hey, we had such a nice runup? >> i think we had a good runup. i think this year will be highly volatile. i wouldn't be surprised if we see another one to two corrections this year. it will be provoked by either higher inflation, a rising 10-year yield and biggest headwind no one is really talking about a disappointment in future earnings. 2020 was easy money. free pass kind of year. 2021 will be a show-me year. liz: tony, it is great to have

you. guys, i am checking the 10-year yield and it is off the highs of the session. [closing bell rings] off the lows of the session, the nasdaq does not appear to be closing in correction territory but could tomorrow be that day? we are coming right back. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. a sharp selloff on wall street after federal reserve chair jay powell said he expects a one-time inflation spike as the economy opens up. powell believes that spike will not be sustained. said central bank will let the economy run hot for sometime without any tightening. >> if we do see what we believe is likely a transitory increase in inflation, where longer term inflation expectations are broadly stable at levels consistent with our framework and goals. i expect we will be patient. larry: all right, in terms of