going to put on my radar, lmf acquisition opportunities. it's another spac that i think is going to sound off. lmao. we're not doing that right now, but, liz claman, that caught my attention. liz: hey, when went steinway pianos were created? lvb, ludwig von beethoven. charles, while you were talking, did you see the dow whip saying all over the place? it fell to session lows i want to say about nine minuting ago, blinking back into the green before slipping once again. we do have it down 28 points. all this after hitting brand new record highs earlier in the session. but it is the nasdaq taking an outsized hit as treasury yields soar just 24 hours after jerome

powell said a pop in inflation would be short-lived. but will the market have more muscle than the central bank in this fight, and which stocks should you be buying? we're tackling that all in just a couple of seconds. in the meantime, the highest state meeting yet of the biden administration about to play out in alaska. president biden and president xi's top diplomatic guns set to square off for the first time since the 2020 election. u.s. secretary of state antony blinken landing in anchorage after meeting earlier today with south korea's president and earlier in the week with his japanese counterpart. how will tony blinken and, more importantly, should he respond to any attempts to roll back the trump administration's hard-hitting policies against the world's second largest economy? the man who had president trump's ear for the entire four years of his presidency for china, mike pills bury is here.

plus, the nonfungible token pile-on now moving into stocks, one crypto art stock is making a move, and the venture capitalist world's take on the staying power of this latest investment craze. we get to this fox business alert, and it is the nasdaq under pressure at this hour. remember when it was pretty much five names that for the better part of the last two years were responsible for most of the tech-heavy index's sustained record run? take a looked at those five names, apple, netflix, microsoft, google, amazon. now, year to date microsoft and google are pretty much the only ones in the green, and at the same time these names have languished or dropped. the 10-year treasury yield has concurrently surged from up five-tenths of a percent at the close last year to a 14-month high earlier, just two hours ago, of 1.75%. currently we're just at 1.725%,

but still very high. yesterday jerome paul dismissed -- jerome powell dismissed what appears to be to most of us rising inflation. >> people start businesses, they reopen restaurants, you know, the airlines are -- we'll be flying again, all of those things will happen. so it'll turn out to be a one, a one-time sort of bulge in prices, but it won't change inflation going forward because inflation expectations are strongly anchored around 2%. there was a time when inflation went up, it would the stay the up. and that time is not now. liz: not now. okay, but what about this, mr. powell? the prices paid component of the philadelphia fed index, that's a read on mid-atlantics manufacturing, prices paid is an indication of inflation. that part of it hit its highest level since march of 1980.

time to stop waiting percent fed to see what's really going on and start investing through reality. let's get to our traders who are very good at seeing reality. sarge and chris robinson. sarge, jerome powell acknowledges inflation but says it'll be gone with the wind soon enough n. a rising price environment, what stocks do you say and will do well? >> all right. now, you've got to look at that philly fed number because it's a little misleading. prices paid were very high, but prices received -- that's what we saw last week, the ppi being so more aggressive than the cpi. be long materials, highlight dow chemical, 4.4% yield, going to 76 if i have my way. i think you need some transports, fedex, i'm long that one. i'm looking for $3.23 on 19.9 billion, i'm taking theover. berke scherr hathaway, the b stock, and that's my railroad,

burlington northern santa fe, and it opens you up to the reopening plays that warn buffett gets involved in. jpmorgan with, best in class. wells fargo, two words, charles sharp. sooner or later he's going to be up there with the lisa suhs in my world. the guys i really think are the best ceos out there. liz: well, yeah. to the charlie sharp and wells fargo point, he is extremely bullish. you look at those charts, chris, especially of the jpmorgans and the goldman sachs, even if the fed says we are not in a rising rate environment. what do you think has the staying power out there as we see inflation really creep in, and at some point it may roll fast in. >> that'll be it. we'll see. just inflation as we've reinflated for the past year, you look at the growth that we've had, you know, crude oil this time last year was at $29,?

five days, six days ago we were near 70, and now we've had a big correction, down about 15%. so was it just a temporary inflation, or is this something that we're going to have for the next two, three years? that's something i would look at. all commodities had a tremendous rally over the last year. corn, soybeans, cotton, everything. i think from a big place endpoint if you believe that inflation is going to be there, you look for opportunities to buy these commodities on pullbacks. but the key to this i don't care if you decide to buy an x, you've got to be ready to get out if it goes x minus 10% because when you're trying to buy on dips, you've got to be very, very disciplined about not buying and sitting and watching it go correct against you. if you're looking for some hedge inflation, definitely you've got to look at any stocks that are sensitive to commodities.

and look at the actual commodities themselves. finish. liz: yep, yep. and i need to just point out here we've just fallen through the floor of the earlier session lows, sarge, quickly, we're now down 350 and dropping. >> that's why i was trying to butt in here, yes, inflation is the big news, but this big news is france shutting down for four weeks, france and italy and those countries are usually a few weeks of us. on this dip right now on television, i am buying invidia, amd, i am buying on this france-inspired dip. they're really getting hammered, because i'm already in 'em. liz: can you just -- sarge, where are you -- hold on. sarge, where are you seeing the french news that they're shutting down for the next four weeksesome. >> unconfirmed because it's off twitter but it's off someone we

both respect on twitter. liz: okay. all right. for our viewers -- >> i don't want to give the name -- yeah, it's not news. i saw it on twitter from somebody we all know. liz: got it. okay, chris, thank you very much. we're keeping an eye here, yeah, now the s&p's down 47, the dow down 72. fox business alert, america's top diplomat just touched down in alaska. secretary of state tony blinken wrappedded up visits to japan and south korea. in two hours he will meet with his chinese counterparts on american soil to discuss u.s./china relations. president biden has not exactly indicated whether he's willing to back down from his predecessor's hard-line stance against the middle kingdom, but early indications show an iron fist is forming. as china bets on a reversal of president trump's trade tariffs and crackdowns on chinese telecoms, we bring in trump adviser on everything china,

michael pillsbury, the author of "the hundred-year marathon." and now michael's director of the center for chinese strategy at the hudson institute. mike, yesterday right ahead of today's meeting the biden administration kind of, it's almost like they set you have a stink bomb, threw it into the meeting room in alaska and said, okay, now we're all welcome. they sanctioned 24 china and hong kong officials. clearly, the biden administration looking to start with the upper hand in these talks. is this right move? >> of course it is, but it may not be enough. i think the name of the game with the trump administration on china, and it looks like the same thing is going on with president biden now, the name of the game is leverage. how to get enough leverage to make change possible in china, to compel them to want to be rude and soars about it to change -- coarse about it to change their ways. there's ten main issues. so what we began to learn at the end of the trump administration, the president made it clear

himself, the leverage that was used in the first three years was not enough, was not enough. they that really wouldn't concede much at all. liz: okay. well, what was it that you feel would have done the trick? because right now we do see that the biden administration's fcc for the moment is moving toward barring the chinese telecoms. we've already seen that. but so did trump. so what was missing? what piece? >> well, it turned out that one thing that's happening right now with the alaska meetings, the chinese tried successfully in 2017 with president trump. they went for a meeting, a one-on-one session to build chemistry, as they called it, with president trump and cut out his more hawkish advisers at the time, wanted more leverage from the get go in 2017. looks like what they're trying to do now, the chinese know the views very well of secretary

blinken, jake sullivan, kurt campbell. they know these are hawks, so they're only winning strategy is going to be to isolate and get xi jinping alone for walks and talks with joe biden and rekindle the estimated 24 hours of talks, liz, the chinese say they've already had, 24 hours of talks in small sessions or one-on-one between xi jinping and joe biden. i think want to cut out these hawks and get right to joe biden and try to make a breakthrough and get him to, you know, make some serious concessions in order to have climate change go forward. liz: yeah. leapt us be clear though that the u.s. trade representative, katherine ty, is no shrinking violate. i know you know that, michael. she successly argued before the wto for years on behalf of the u.s. and won those cases against china. can i ask you about apple? apple just cut off ties with a chinese supplier because it discovered that they were using, you know, forced labor9 with the

uighurs, that muslim minority there. and yet at the same time, a company called luminar is opening a headquarters in shanghai. this is a lidar company, a light detection and ranging company, in shanghai because they have a new deal. it almost seems like it's catch as catch can, anything goes. >> well, a lot of this will fall under katherine ty's jurisdiction. and, in fact, i would use the word hawk about her. chinese on the phone told me she's bad news, she's from taiwan. so they see another hawk joining the biden team. that's why, as i say, to get leverage on us, they want to focus on joe biden alone and get to him in a summit. that may be what happens in alaska. we'll see in the statement that comes out if the chinese are successful, you'll see talk about the place and time of a summit with joe biden. or they can try to cut out katherine ty and jake sullivan and tony blinken and all the hawks and work directly on joe

biden. they've had a lot of success over the last 40 years on doing just that, liz. they try to get to the president alone. liz: michael pillsbury saying the number one thing the administration should not do is let the more hawkish people in the administration be pushed aside with a direct road to biden. we'll be watching it. so good to have you back on the show, michael. thank you so much. >> thanks. liz: michael pulse bury -- pillsbury. take a look at the nasdaq, lower right, down 2.5% right now or 326 points. the dow is struggling here, 6 points. and i say -- 36 points. it had been up 212. don't go away, we will come right back with all the action. ♪ ♪ let's meet the defending champs. kim kietz, investor. i invested in invesco qqq

a fund that invests in the innovations of the nasdaq-100. like 3d rendering software. become an agent of innovation with invesco qqq. ♪ become an agent of innovation with invesco qqq. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath,

chest pain and rapid breathing or heart rate, or if you are pregnant or nursing. every day matters. and i want more of them. ask your doctor about everyday verzenio. ♪ ♪ it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. lease the 2021 c 300 sedan for just $449 a month at your local mercedes-benz dealer. ♪ ♪ mom and dad left costa rica, 1971. and in 1990, they opened irazu. when the pandemic hit, pickup and delivery was still viable. and that kept us afloat. keeping our diners informed on google was so important. the support from our customers,

it honestly kept us going. i will always be grateful for that. some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

not everybody wants the same thing. that's why i go with liberty mutual — they customize my car insurance so i only pay for what i need. 'cause i do things a little differently. hey, i'll take one, please! wait, this isn't a hot-dog stand? no, can't you see the sign? wet. teddy. bears. get ya' wet teddy bears! one-hundred percent wet, guaranteed! or the next one is on me! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ liz: breaking news, sarge broke the news saying it was unconfirmed that france would be locking down for four weeks starting tomorrow. we have confirmed it. this fox business alert, sources at the french finance ministry just reporting that the new covid measures being taken in france, this includes paris and the area around paris will be

locked down beginning tomorrow. that, of course, will weigh on france's gdp. as we look at this situation, they had begun to see basically a spike in cases of covid once again, so they are calling for four weeks of lockdowns. some areas outside of paris, but definitely the parisian area. we'll keep you updated on all this and more, but that is the reason in part, at least sarge assesses, that we started to see a gap down, certainly in the nasdaq, down about 342. a year ago just about no old economy company would touch cryptocurrency. well, look at this today. jpmorgan, paypal, bny mellon, mastercard, visa, tesla, blackrock, they are all cozying up to crypto. beyond the currencies themselves though, we now have a very crowded ipo pipeline. we bring in charlie gasparino

and the crypto-trading platform which just made a deal to go public via spac, valuing the company at nearly $10 billion. yoni, welcome. the spac that you're merging with, let's get the details right now first. >> sure. we announced the business collaboration together the cohen group and betsy cohen, the chairman of fin-tech 5 now and are very excited about partnering with them to take us to the next step of growth of etoro. liz: charlie, you know, she's very involved in spacs. go ahead, charlie. >> yeah. yoni, i found it fascinating that one of your investors, and maybe i'm reading this wrong, is the activist hedge fund run by dan loeb, third point?

is that accurate? >> we've had an immense interest in the prior transaction to the spac. we had great investors, fidelity, wellington the, soft bank, ing as well as dan loeb from third point. >> but they're a little different than dan. dan's an act hedge fund person. of he's very, you know, you know what activist investors do, they break chops. are you worried about dan, you know, making changes to your business model, forcing you to do things? >> what we found out was how much e hedge fund managers and owners love what we to at etoro. so today we're the world's large central trading network. we have 20 million registered users on our platform who can trade stock trading and cryptocurrencies from 120 countries. what's very unique is all our

user automatically share their investments, their track records where users can actually see, follow and automatically copy top traders. we have a network of 1400 -- >> i guess that's -- the answer is you and dan are getting along great as of now. [laughter] another question i have to ask you and then i'm going to turn it over to liz, you don't, you don't sell your trades. you don't do payment for order flow, unlike robinhood, that's where you sell your trade and someone matches, buys and sells on -- matches the buyers and sellers and pays you a fee. that's what robinhood does. you don't do that. you -- i guess you match your own trades. you make money on the split between the bid and the ask. let me ask you this, if the spread's -- if you're making money off the spread between a bid and an ask, is it possible the end user that uses your program gets, essentially, a less efficient trade -- a less efficient price than they would

get otherwise if they a paid for order flow where the spreads were narrow? >> no. so we adhere to regulation, obviously, we're one of the very few high growth fin-tech platforms that operate in a hundred different countries, regulated by the u.k., in the europe, in australia as well as in the u.s. of -- each regulator would have a different set of rules, but they all adhere to what's called best execution, so we have to provide to our customers best possible pricing. worth noting that in some asset classes we are able to mark up our prices which is how the business works. of in cryptocurrencies, for example. so we've been able to grow last year 147% year-over-year growth, our revenues to oh $600 million. and while crypto was only 15% of that, we are seeing significant increased volatility and transactions in the crypto industry as we're seeing crypto

rally 2.0. >> okay. liz, back to you. liz: you know, you've got competition. i was going to say, you know, coinbase is going public. how are you different? i know they do take a commission. i tested that out because i wanted to see exactly how well it works. there's a lot of buzz about that. how do you beat them, and is it with -- did you see this, charlie? -- alec baldwin as your face right there on the first page of the web site here. >> that's great. >> so, first of all, again, the unique if part of etoro is the fact that we enable our users to be able to see, follow and automatically copy the most successful investors in the n network with. and if you look at 2020, for example, when the crypto rally 2.0 really hadn't started yet, we've been able to grow our business more than 140% just from our equities business and

from the rising retail interest all around the world around stock trading. so we have both our foot in both the equities market as well as the cryptocurrency market, as well as commodities market and traditional currencies market. so a very diversified business. and, again, the unique part is you can actually see what other people are doing and the same ease of use that you can buy facebook or bitcoin, you can automatically copy top traders from all around the world. liz: got it. yoni, we'll be watching -- >> can i just add this question, liz? liz: really quickly. no, you know what? i'm so -- >> when is robinhood going to become public? liz: sorry. >> we can only comment on the fact that we are super excited about this current business combination, and we're excited to see retail investors all around the world excited and flocking into the markets, both the equities markets globally as

well as the crypto markets and are happy to see more digital platforms you and scale their business. >> so you don't know. liz: we'll watch it. and please come back on the day you go public. yoni, charlie, thank you very much. the dow solidly in the red, but it is the nasdaq as far as percentages are concerned really getting hit hard, down 363 points or 2.6%. we are coming right back with pop and drop stock. ♪ ♪

i'm a verizon engineer, part of the team that built 5g right. the only one from america's most reliable network. we designed our 5g to make the things you do every day, better. with 5g nationwide, millions of people can now work, listen, and stream in verizon 5g quality. and in parts of many cities where people can use massive capacity, we have ultra wideband. the fastest 5g in the world. this is the 5g that's built for you. this is 5g built right. only from verizon.

do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. use a single hr software? nope.

we use 11. eleven. why do an expense report from your phone when you can do it from a machine that jams? i just emailed my wife's social security number to the entire company instead of hr, so... please come back. how hard is your business software working for you? with paycom, employees enter and manage their own hr data in one easy-to-use software. visit paycom.com for a free demo. hon? first off, we love each other... lately, it's been hard to think about the future.

but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones. ♪♪ liz: breaking news, president biden is now speaking, he has just announced that tomorrow, 58 days into the administration, they will hit 100 million covid vaccine shots administered, weeks ahead of his 100 million shots in 100 days' goal. he is also saying that 65% of those 65 years and older have been vaccinated as well.

so once again, well ahead of the original goal of first 100 days to have 100 million shots. tomorrow will be the moment that they hit it. we're going to monitor this. of we're still looking at a market that is looking very weak at the moment. in fact, we just lost gains for the week on the dow, the s&p and the nasdaq. so right now we're keeping an eye on that because, of course, france just announced that it will reimpose lockdowns starting tomorrow for four weeks. certainly in the paris and paris region. to this, one bruised ev apple is spoiling the bunch today in our pop stocks. shares of lordstown motors tumbling after the electric vehicle trucking company reported a fourth quarter loss and said securities and exchange commission has reached out regarding a report alleging that lordstown misled investors about orders for its endurance electric pickup truck. lordstown is down 12.8%. but another early hindenburg

target nick la, is down 3.5% after south korea-based investor said it's selling half of its stake in the electric maker of the badger truck. plus, deutsche bank saying nikola needs a billion dollars more before it even breaks even. we should look at lyft shares at this hour after the ride-hailing company recorded the best ride volume in a single week is since the pandemic began, shares moving here i by 1% even in this -- higher by 1% even in this down market. daily ridership for the first time in a year. keep in mind, of course, the bottom fell out, so the comps are a little bit easier. lyft's stock is up 310% over the past year while uber is up 290% for the -- 290% for the same time period, down half a percent at the moment. the reopening optimism spilling over to amc entertainment stock.

first new york city, then los angeles and now the movie theater operator says 98% of its u.s. properties will be open beginning tomorrow. the stock is moving higher by 1.7 a 5%. but, you know, you would have known this news about 98% of the theaters had a you watched my morning market minute on tiktok because every morning i post a hot headline from over night. i don't even do my hair or put my makeup on, okay? we're almost at 50,000 followers. we've only been doing this since late november. but help me get there. help me get to 50,000. we're almost there. hop on tiktok and follow me@t red@red fox liz. they're only -- @redfoxliz. still stressing over the finishing touches of your march madness bracket? you have about, let's see, about an hour and a half left to decide and make your picks. the ncaa men's college

basketball tournament is set for tipoff at 5:10 p.m. eastern time. texas southern tigers will battle mount st. mary's in the first game. and not only will millions of americans be watching, they will be wagering as well. play usa says 1.a 5 billion will be -- 1.5 billion will be bet on the tournament during its three week duration. to grady trimble who's outside of lucas oil stadium, the home of march madness, and the stocks that are a part of it. >> reporter: hey, liz. this tournament certainly has a different feel to it compared to years past. all of the teams, as you mentioned, 68 in one city for the first round, essentially in bubbles. and the ncaa says so far it's administered 9100 covid tests, only 8 came back positive, and that's when you count hundreds of players, coaches and other staff that are involved in putting this thing on for each of these teams. so off to a good start so far.

all 68 teams expected to be playing this weekend. and you mentioned the sports betting, that's another big change this year that we haven't seen as much of in years past. we know the bracket, but what's changed this year is this, look at these numbers. online sports betting up about 200% compared to two long years ago, last teem we had march mad 'em, and physical sportsbook betting is also going to be up this year according to projections by about 80%. and people have just familiarized themselves with the penn national gaming, with its barstool sportsbook, draftkings, rush street interactive. they familiarized themselves with these sports betting apps during the man demick, and now they're expecting this to be the largest wagering sport betting event in history. what we are expecting, liz, according to the experts is not as many people will be filling out the famous brackets this year, and that's because, well, not as many people are going

into the office as in previous years, so you don't have that peer pressure from your coworkers to fill it out. but i did fill mine out in between commercial breaks earlier today. i live in illinois, so i've got illinois going to the finals. liz? liz: i can't believe duke isn't in it. i just can't believe duke, so i'm going to have to go with syracuse because cal ain't in it either. grady trimble. stocks are getting rapid here in the final hour with the nasdaq down 366 points, dow is down 134 and that blows through the low of the session for the dow as well, same with the s&p which is now down 53. we are coming right back, please stay with us. ♪ ♪ get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen...

and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. (vo) ideas exist inside you, for smaelectrify you.ecisions, they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. (calm music) - did you know that americans that bought gold in 2005 quadrupled their money by 2012? and even now, many experts predict the next gold rush is just beginning. so call u.s. money reserve.

the only precious metals organization led by a former director of the united states mint. as one of the largest u.s. gold coin distributors in the country, u.s. money reserve has proudly served hundreds of thousands of clients worldwide. there may have never been a better time to start diversifying your assets with physical gold and silver. and right now it's easy to get started. pick up the phone right now. call to receive the complete guide to protecting your hard earned assets. don't put it off another day. the call is free and you'll speak with one of the u.s. money reserve account specialists who will get you your free information guide in the mail right away. - i enjoy buying gold. gold has protected me. i feel comfortable when i got involved with gold and it's something i could physically touch. i have it and i have it secured. of all my years involvement with buying gold it's only gotten better in my faith in the company, u.s. money reserve. that's the company i do business with.

and i don't see doing business with anyone else. - [narrator] if you've bought gold in the past or would like to learn more about why physical gold should be an important part of your portfolio, call to receive the complete guide to buying gold, which will provide you important, never seen before facts and information you should know about making gold, silver, and platinum purchases. for faster wealth protection request a digital version of our complete information kit which will be emailed for faster delivery. - pick up the phone and call america's gold authority, u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide u.s. money reserve is one of the most dependable gold distributor.

♪♪ liz: again, we are watching big tech and small tech stocks absolutely cratering, so let's

look at the nasdaq laggards at this very moment. it's kind of changing, but you've got tesla down 6%. in the commercial break it was down 5%, so we are seeing acceleration to the down us side. amd down 5.25, micron down a 5%. now we need to show you one stock that's gone absolutely parabolic this week, and it's continuing to do so. it's calledcap art, and you've -- khan art, and we have to show it to you. this is a company that while very few people have heard of it, it's absolutely going nuts. it was trading at $5.90 yesterday around 11 a.m., now today the alone it's jumping 24%. but on the wake, as we said, more than 900% upside. what do they do?

tkang is an online listing service that allow artists, art dealers and owners to trade their holdingsings with potential investors. just the latest company making money on the nonfungible token craze seeping the world. -- sweeping the world. here to talk about it in a fox business exclusive is a seasonedded venture capitalist and angel investor, one of the men behind the booming audio app clubhouse which has gotten super hot, superhuman's ceo. and, yes, that's your company, superhuman. great to see you, raul. tell me what you think of what's going on with the tcaps of the world simply because you slap an nft on it. >> sure. and thank you for having me on the show. i think the first thing the people need to realize is that nfts are digital products where you can prove that you own a copy of the product signed by

the creator of that product, except that these are products that exist in the digital world. i think what a lot of people are asking is, is there true value here. and i really do think there is real value. for example, why would you want to own an original painting over a print of that same painting? it might be a financial investment, it may be sentimental, or you might simply want to support and have a relationship with the creator. these are examples of true value and what they're being used for today. liz: is it a quick money grab, or is it here to stay? is there legitimacy that ten years from now we'll still be saying, oh, look at this nft i bought? >> we are seeing a lot of financial speculation, and some of the prizes, gosh, they're eye watering. but the real value is supporting the things that you love, and art has always been this way.

liz: yeah. >> i think the really interesting thing is we will see the technology used for so much more than art. ten years from now i would not be surprised if governments and institutions have adopted nft to replace things like car titles or even university degrees. liz: you were an early investor in clubhouse. tell us where that stands. first there was a mass you have rush -- massive rush where everybody was scrambling for invitations. my sister danielle got invited, and she said i've been given one extra invite, she gave it to me. i've listened on occasion, i get the i a letters -- alerts certainly, look at the people who have been on it already, bill gates, john ledger, formerly the chief of t-mobile. but tell me where it stands and where the pay outcomes for you. >> well, the payoff to me as an early investor is just seeing clubhouse grow from one stage to

the next and then, ultimately, to realize the founders' ambition of billing not just a $1 billion company, a $10 billion company, but a $100 billion plus company. and i really do think they can do it. imagine the personal hero of yours is talking on clubhouse. you casually drop into the group to see what's happening, maybe it's bill gates. you hit that raise hand button, and the next thing you know you may get invited to speak. you are now talking to your personal hero, and they will talk right back. this happens every day on clubhouse. now, twitter can give you a little bit of this, but with clubhouse it feel authentic and intimate. i really do believe we are witnessing the birth of the next major social network. liz: well, it's very much radio but for the new millenium. tell me right now when do you hope to see clubhouse go public? >> oh, whenever they want to. i think one of the things as an early stage the investor i'm invested in over 70 companies at

this point i've learned is that the founders are in the driving seat. so they will go public if and when that makes sense to them. i 100% trust their judgment in that regard. liz: well, you're a good investor to have. [laughter] you're not constantly nudging them, come on, you guys. rahul, please come back. we love angel and vv investors and what they're looking at as the next big thing. thank you very much. we do have to say losses are accelerating right now on the dow jones industrials as well as the nasdaq which is lower now by nearly 400 points. when we came into this hour, the low of the session for the nasdaq was a loss of of 341. we're now down 383. we're coming right back. we're going to figure all of this out. so much of it has to do with what's going on on the international stage, lockdowns being reimposed in france, but we'll come right back with more. ♪

these days, we want sophisticated but simple. cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, with ibm. a hybrid cloud approach with watson ai helps manage supply chains while predicting demands with ease. from retail to healthcare, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm.

it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217.

we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217

♪♪ liz: breaking news, now the nasdaq has fallen through the 400-point loss floor here. we're down about 411 points. if you look at the big five beyond the intraday of the tech-heavy index, you can see -- and we started with this at the top of the show. you know what, the five is stocks that really got with us through the past year and a half, they were responsible for most of the nasdaq's consistent record-breaking highs day after day for the past two a and a half years? those five -- microsoft, netflix, amazon, google, you know, they're all down. they are all moving down. amazon as well. so you're looking at session lows for the major indices at the moment. do we have those five? but you can see we are at is session lows for the nasdaq which is now down three full

percentage points. and you can see the s&p is losing 60, transports down 23. we-higher there. russell is getting clocked, down more than 3%, and the dow down just under half a percent. two major earnings reports that we need to watch right now, they're coming out right after the bell, nike and delivery giant fedex. first, the swoosh brand looking to post 76 cents per share with revenues of just over 11 billion. believe it or not, that's up 9% from a year ago, investors looking for strength in digital sales. for fedex's third quarter earnings, analysts with expecting $3.23 a share, $19.9 billion in revenue, a jump of 14%. shares of fedex surged more than 70% in 2020 because, yes, we were all ordering everything to be delivered, so we thank our fedex and ups and u.s. postal service deliverers every day.

thank you. take a look at -- surveying 235 people to find out where they will be investing their stimulus are checks. check this, 40% of respondents said they would put some of their stimulus funds into both stocks and bitcoin to the tune of $40 as estimated. let's bring in larry kudlow, host of "kudlow." we know you don't think the stimulus was needed for the economy, but it is looking like the market's spark plug. larry: i guess that didn't turn out too well, huh in. liz: not today. larry: the whole week's been pretty sloppy. you can't find a bear anywhere because wall street has fallen in love with stimulus, and i know millennials are using their covid money to buy stocks which really was not the intent, i

think, of policymakers and taxpayers. so i guess you have to have another $2 trillion to put more money in the stock market, something like that. but somehow this story's not working out, liz. you and i are going to talk about this when you come on "kudlow" later, you're going to be on our star. i'm going to put you on the spot, bulls or bears. [laughter] interest rates are rising. liz: i agree. larry: a lot of things that are not supposed to happen are happening. very interesting to me. liz: indeed. we're looking not just at the 10-year, but the 30-year. i'll be appearing on the famed "kudlow." i'm so excited, larry. see you in about 40 minutes. special guest today, kevin hassett. a very rocky day for stocks. you could blame lockdowns in europe, spike in covid cases overseas and maybe, yes, jay powell saying there isn't inflation just as bond yields spike. we're coming right a -- right

back. ♪ ♪ it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. lease the 2021 c 300 sedan for just $449 a month at your local mercedes-benz dealer. ♪ ♪ our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected.

if you're turning 65, staying on top of your game takes a plan. that's why at aetna, we take a total, connected approach to your health and wellness with medicare advantage plans designed to surround you with the care you need every day. aetna medicare advantage plans.

♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

♪♪ liz: okay. we're looking at three minutes before the closing bell rings. look at the fear index. the volatility index is spiking. something woke it up. it's been kind of lackadaisical over the past several weeks. it is now up 13.5% for the volatility index, stands at 21.8. i want to bring in jordan kimmel, joining me now. jordan, what are you making of this selloff where with we are now at session lows pretty much although just off, actually, the nasdaq down 393. a lot of fear in the market at this very second. is that a buying opportunity for somebody like you? >> well, you know, liz, we all begged for a pullback. everyone was asking for a pullback, and now you got the pullback -- [laughter] it's incredibly important -- and

so people were saying i'll get in on the very next pullback, but you know what happened. again, i was watching the show, you have to have your limits, you have to have your buy picks ready and, frankly, i think some people overpaid for too many nasdaq stocks and they're punishing it. the overall market, frankly, was hitting new highs on the advance/decline line, i do think it's an opportunity to get into quality. liz: yeah. and you like three different buckets here. among them, the consumer bucket, and you like disney and two other names. give us a sense of why. >> well, liz, disney's best in class every which way you go whether it's digital, whether it's -- people can't wait for the actual parks to reopen. i also am showing, you know, scott's miracle gro, everyone's looking for a green lawn. it's sprung time. and then hain is another one i share here, a great organic food

company -- [audio difficulty] in your closet. liz: yeah. that's not scott's miracle gro, maybe we could fix that. all three are could be so they are the, yes, indeed, cheaper. give me your tech plays. >> liz, i think -- liz: can you hear me, jordan? >> i can hear you -- liz: i think we lost the jordan connection. our apologies about that. a name like microsoft -- oh, here. okay, down 2.5%. jordan, quick mention of broadcom, very quickly. >> broadcom is very, very clearly, i think, one of the top semiconductors. they do business basically in every segment, and logitech makes all the perennials, the mics you probably have one in your hand right now.

liz: i bought a ton of that the accessories, certainly, during the lockdown. jordan, thank you very much. there is the closing bell. folks, the nasdaq getting clocked, down 3%, red on the screen. markets taking a pounding. it's time for "kudlow," and i will appear in just a few minutes. ♪ ♪ larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. markets traded sloppy again today. everything was down across the board. and i wonder whether all this tax hike talk is beginning to penetrate the collective psyche of the market. incidentally, you can't find a bear. but what's supposed to be happening -- i.e., stimulus is good for stocks -- doesn't seem to be happening. we'll talk about that later in the show. there's a lot of media coverage today over president biden's mistaken characterization of his personal income tax hikes. he's saying it's only 400,000 for individuals will qualify