now, the bottom line here, folks, is that this market at the very end reflects mankind. not the actions of one madman on the loose, but all of our collective goodwill and the things we do to make life better for each other. and with that, i'll hand it over to liz claman for yet another wild hour of the markets, last hour of trading for the week. liz: did you see on the s&p's birthday what they're doing? they're kicking all the russians stocks off the indices, charles? charles: great, great. liz: folks, we do need to tell you the shock waves from russia's attack on that ukrainian power plant are still being felt in this final hour of trade, and we have a lot of breaking news on this. u.s. and international airline stocks are getting absolutely creamed as jet fuel prices soar along with the rest of the energy complex here. you see american airlines down 8%, ual down 10%. you can look at some of the european and foreign airlines, they're getting hammered as

well. we are about to show you how much the average retail price of a gallon of gasoline has jumped over just the last 48 hours. even as russia's 40-mile military column still remains small on the outskirts of kyiv after the ukrainians, we just heard from the state department, blew up a key bridge along the route, the fighting shows no signs of stopping as russia increases its missile attacks, already at more than 500, on the cities of kherson and mariupol. the chaos has investors asking questions. in a fox business exclusive, carlyle group cofounder david rubin stein, the wall street giant is here to share his insights along with his daughter, ellie, who's got her eye on the disruption of the global food supply chain stemming from what's going on in eastern europe. plus, e elon musk coming to the rescue using his starlink satellite system. he stepped up to provide communications to the citizens

of ukraine, but could vladimir putin soon target the billionaire's helping hand from space? former federal communications commission chairman ajit pai reacts in a fox business exclusive, you'll see it only right here. this breaking news, russian bears are roiling the markets as the dow is now on track for a fourth straight losing week. the s&p and nasdaq on pace for the first down week, down losing 422, s&p down 63, the nasdaq losing 301. we should take this moment to look at wall street's fear gauge, if we could. the vix, the volatility index, it is on track for a winning week, no surprise there. it spikes when there's fear. it will have turned out to gain 21% for the week. it's up 9.5% right now as fears deepen after russian troops attacked a nuclear power plant in ukraine. it's not just in ukraine, it's the largest in europe with the u.s. embassy in kyiv calling the attack a war crime. the smoke visible today from the

plant which russians seized, but oil remains the biggest market driver as the war in ukraine reaches day nine. reuters reporting that the biden administration weighing a ban on u.s. 'em ports of russian crude oil, and that only made oil spike higher. you're looking at the after market. crude at the moment is up 7.25% to about $115.53. it closed at about $115. that is the highest level since 2008. and as we continue to look at everything jumping, i mean, you see natural gas, a pretty big move there, up 5.5%. congress, you've heard a lot of them on our air today saying, you know what? both sides of the aisle want to race towards passing a restriction that would ban all imports of russian oil, that according to bloomberg. the russian defense minister pouring cold water on any idea of a ceasefire saying talks have not progressed since day one or square one. and we just get this moments ago, russia blocked twitter

online across its nation, shares of twitter moving lower by just about half a percent. but at 1:09 p.m. eastern, it banned facebook parent meta platforms, you see that stock down about 1.5%. russia booted facebook off the internet, accusing it of restricting access to russian media. it did not stop videos like from this going viral, a 37-year-old -- 77-year-old russian woman, look at her, saying no nuclear war, was arrested at an anti-war rally in st. petersburg, russia. two officers tried to take her poster she had made, and she was protesting the war. then you see them leading her away as a crowd of protesters watches and takes video of that. the world is watching. u.s. tech businesses doing some boycotting of their own. microsoft and intel saying it will suspend all new sales of products and services in russia. google had already said it

suspended selling online ads in the nation. but we have a high-level meeting right now about to take place in washington d.c. let's get to edward lawrence who's at the white house following all the action. edward. >> reporter: that meeting is taking place. the president took no questions from reporters but just getting this from inside the oval office, he said that we've been in touch and coordinate may noted response to hold russia accountable. he says it's an attack on ukraine and europe and that they're a partner, finland, a partner to nato, and we're committed to helping ukraine defend itself. that is what the president is saying the oval office. the two world leaders, the president of finland and president biden, are meeting right now, talking about makinging a closer bilateral relationship. finland has a border with russia. finland's looking at this aggression in the ukraine, they're usually neutral, but now poles in the country are tip -- polls are tipping in the favor of joining nato. vladimir putin does not want finland to be part of nato, it's

already a european union country. >> finland's current status as an enhanced opportunity party partner for the alliance helps insure close security ties in the baltic sea region. but, again, you know, this is a continuing conversation. i'm sure that their defense and security and our close ties will be a part of it, but we'll let them have the meeting. >> reporter: and the finish are look -- finnish are looking at that bombing of neighborhoods and also the largest nuclear plant in europe, and the concern has led the u.s. to activate its nuclear response team. right now there does not seem to be a radiation leak, and that's what we're hearing out of the white house. listen. >> russian forces are now 20 miles and closing from ukraine's second largest nuclear facility. so this imminent danger continues. we narrowly avoided a disaster last night. the international community must be unanimous in demanding

russia's forces stop their dangerous assault. >> reporter: headed for another nuclear plant. so as you mentioned the tweet, the u.s. embassy tweeting in ukraine that the attacks are a war crime, adding putin's selling of europe's -- shelling of europe's largest nuclear plant takes his reign of terror one step further. the russians now control that nuclear plant, as you heard, moving toward the second. liz: and we are looking at the video that has just come in of that meeting, president biden with finland's president. as we continue to monitor the situation, and edward just brought us all the news out of that meeting, we do just want to tell you here is another headline that just hit the tape. the aerospace maker bombardier or has suspended all activities with russian clients, and that includes services and technical assistance. you recall that air bus and, of course, boeing have done the exact same thing earlier this week, and i believe bombardier

shares are moving lower at this moment. fox market alert, i mean, what else can happen here? wheat futures this week on a historic tear, up a record 40% on fears that russia's invasion of ukraine will cause massive disruption to supplies from the black sea region. the conflict has shutteredded major ports in ukraine, severed transport links and rocketed freight and insurance costs. and according to rbc capital markets, russia and ukraine combined account for close to 30% of global wheat exports. ukraine alone, 13% of corn experts -- exports. that leads us to look at corn prices, highest since september of 2012. and while the russian attacks on ukraine began toward the end of last month, job growth in february accelerated here in the u.s., pushing the unemployment rate to a two-year low of 3.8%, suggesting the u.s. economy is moving past the covid-19 pandemic. but can it withstand the headwinds over these past eight

days wrought by geopolitical disastrous tensions and tightening monetary policy? joining us now, billionaire investment david rubinstein, 300 billion in assets management. also joined by his daughter ellie who invests in companies that focus on improving nutritional health. thank you both for joining us. david, i would like to begin with you. this nuclear situation, the attack on the nuclear power plant, almost feels like russia is now threatening to use its nuclear arsenal to keep western nations at bay but then targeting nuclear energy on the ground in ukraine. what does this lead to, do you see? >> well, i don't think this can continue very long. i think the pressure now being put on the russian economy and the russian political leadership is such that at some point putin will say i've got to blink.

at some point he blink. what he wants to do is to move as far into ukraine so he can negotiate from a position of strength when there is a negotiation. the question is whether he can continue his war machine and his economy longer than the ukrainians can withstand the bombardment that they're now facing. i suspect the ukrainians can outlast putin and the russians. the russians, obviously, don't have the heart in this, and i do think that some point between the next week or two, i think he will recognize that the game is up, he'll have to do something. but what we've now seen is war crimes of the type that clearly could be tried after this is over. trying to attack a nuclear power plant is a war crime by anybody's definition. whether it was done inadvertently or not, i don't know. but clearly, the ukrainian people have not begin up, and i think the fact that the allies have come together in a way that i've never seen the western world united, not since world

war ii has the western world been so united, so that is heartening. but it's sad and tragic. in my own case, my ancestors came from ukraine. i am very sympathetic not only because of that, but because of the tragedies that they're going through which are so senseless and needless because there is no purpose to this war. it's the most senseless war i've ever seen in my lifetime. will. liz: well, that's a rather large statement because we've watched so many situations develop over centuries, but you have to focus on one thing for us. in operation desert storm, the united states entered the fray to defend what it considered vital interests, energy, oil, itself at what point -- etc. at what point do you see the united states or nato countries entering this fray? >> well, because russia has nuclear power, it's a different situation. obviously, in kuwait there wasn't nuclear power. so we have to be a little bit more careful. also i do think that we can squeeze the russian military

machine and squeeze the russian economy such that the russians won't be able to resupply their troops, won't be able to really give them energy to move forward. so i think that will occur before you will see the western troops and the western allies saying we need to go into ukraine. i think that is an absolute last step. liz: ellie, you got your degree in agriculture economics at purdue. you understand the very delicate supply chain, and i look at what's happening with this intertwined linkage as we see russia and ukraine el call about 30% -- equal about 30% of the food export when it comes to corn and wheat. what do you foresee? and your company, manatree, invests in a lot of plant-based companies. what are you seeing on the ground with the disrupted supply chain? >> thanks for having me. i've always said i think the most helpful economic theory is

agricultural economics because it is an understanding of the global food supply chain. manna tier was started -- mannatree was started to reduce commodity exposure as well as businesses sources -- sourcing from north america. i want to remind people that that sourcing of north america and commodities is a real thing. so as you know, there's four things that matter in resource investing, food, water, shelter and fuel. but even though for the u.s. only 1% of gdp comes from agriculture, we're still the third largest producer of corn, the third largest producer of wheat, the fifth largest producer of potatoes, so when you marry production with innovation, that's why you're getting a lot of strong brands coming out of north america that are not as affected by what's going on. liz: well, just randomly i thought, hmm, let's look at harvest stock. we had the ceo on on the day that they went public. this is an indoor farming

structure company. it's spiking today, and they are set none kentucky. and as we look at app harvest up 9%, they are maybe an answer here to keep the supply chain domestically, are they not? and then you have beyond meat which is falling today probably because they depend on, certainly, some other commodities that come from elsewhere. >> yes. to answer your question, the commodity exposure usually comes from food prices. we're one of the largest investors in a company called gotham green which is that exact trend. it actually has nine grain houses, and that allows for indoor leafy greens year round. it's also an answer to some of the esg components as well, so i'm not surprised to see that the markets are rewarding that asset class. liz: david, your daughter appropriately said among the four things that need to be protects, energy is certainly gyrating these markets as well.

i want to go back to oil, natural gas, all the distillates. there has been a push in this country to go toward green energy and electrification. does what's happening now push us closer to that? i've heard a lot of people saying, i'm done, i don't want to go to the gas station anymore. i need an electric car. or does it take us further away or incrementally away as a lot of people here, and maybe rightly so, push to start drilling more and releasing more energy from this country? >> well, we're energy independent in our country but, obviously, europe is not, and europe is very dependent on imports of natural gas and oil. and so it does remind people that when you're so dependent on commodities like natural gas and oil, you are really vulnerable to these kind of shocks to the market. i just think that getting to a green economy in terms of energy will take quite some time. i wish it were quicker, and i think electric cars probably will continue to go up in salings. but remember, the amount of

electric cars is insignificant to the amount of internal combustion engines sold each year, so it's going to be quite some time before we're really out of the internal combustion engine. the most important fact here, i think, is that the united states has the capacity to deal with our own energy needs. we have a strategic oil reserve which we've already gone into, and we could go into it again, and we also can increase our own production in this country if we want to do so. the real prop e problem is europe, how is europe going to get enough energy given russian, the resistance in using russian energy or russia's resis resistance to selling it to europe. i do think that the united states will increase its liquified natural gas exports to europe and is others in the middle east will probably increase their supplies to europe as a way of helping europe get through this. but i do think at some point in the not too distant future the russian economic machine and energy machine and military machine will feel the pressure and even mr. putin are realize he's got to blink, and i think he will.

are. liz: we only hope that you are collect. -- correct. david and ellie rubenstein, thank you so much. have you seen the 30-year fixed mortgage? we're going to show it to you and speak to ara hovnanian about it next. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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tape right now, first it was twitter getting booted out of russia, now hotel reservation site booking.com can no longer be used to book accommodations inside russia, this according to ria news agency. the stock is falling just about 5.8% at the moment again, this is a russia ban on utilize aring booking.com. the stock market's not the only economic data point suffering from volatility regarding the russian invasion of ukraine. this week mortgage rates went all over the place. first going into freefall following russia's military moves reversing weeks of increases that had if pushes rates above 4%. but after dropping to 3.99 % on tuesday, the 30-year fixed has suddenly reversed and is now back up to 4.17%. record high home prices along with jewish yo political -- geopolitical fears, jerome powell said the central bank is

not confused. it's on track for a series of rate hikes beginning on march 16th. listen. >> i do think that it's going to be appropriate for us to continue to proceed along the lines that we had in mind before the ukraine invasion happened, and that was to raise interest rates at the march meeting and to continue through the course of the year based on incoming data and the evolving outlook. liz: what does it mean for the housing market which has been a shining star of the investment world over the past year? let's bring in hovnanian enterprises chairman and ceo, ara hovnanian, in a fox business exclusive. we see mortgage rates as a moving target. >> you know, surprisingly and amazingly, home buyers right now are very focused on buying a home. the tragedy in ukraine doesn't matter, inflation fears don't matter to home consumers, and is higher mortgage rates don't matter.

we released our results this week, and sales right up through this weekend have been just rock solid. liz: through the weekend. but you're also dealing with forget, you know, consumers and home buyers dealing with inflation, you guys have dealt with the materials inflation. lumber had crashed about a month ago. we do see lumber all over the place now, and we -- not to mention have to look at everything from cement prices to, you know, everything else that goes into making a house. how are you dealing with that, ara? >> well, fortunately, we've been able to raise home prices more than enough to compensate, and our margins are still increasing even with a lot of our costs going up. so we've been in a fortunate environment. liz: yeah, i would think so. but tell me where you see home buying going if these mortgage prices continue to rise? you heard jay powell if, and it appears that he is boxed in now because they waited too long to

move rates off of emergency levels of 0-.25%, and there will be that shock of the new for many first-time home buyers. >> no question about -- first, it's important to always remind everyone, obviously, short-term rates are one thing. that doesn't affect home buyers very much. it's mortgage rates that really matter. rates are up, as you pointed out a moment ago. it's at 4%. sounds high from where we've been over the last year, but if you look historically, last decade and a half 4%, last five decades, 4% is a very, very low rate by historical standards. if you go back for 15 years from '93 to the mid 2000s, mortgage rates were between 5-9%. and we built more housing per year as a country, more single-family housing, than we did last year. so i think there is an opportunity the still. no doubt if rates rise more

rapidly, even more than what has happened to mortgage rates over the last month, then, yes, consumers might have a little sticker shock. that happened in 2018. they hesitated for a bit, and then they reset their expectations for what they could afford and went back into the market. maybe a little smaller home, maybe a little less in upgrades, but they went and they did buy. liz: well, ara, you and i remember when they were much higher. but i said shock of new for new home buyers, i still think it may work through the system and perhaps be, certainly, a cap on what's going on with home buying. great to have you, ara hovnanian. disney share ises are on the move. why are they falling close to 4%? we'll tell you in just a moment. ♪ ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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♪ liz: fox business alert, there is clearly a gap in how the parent of banana republic is performing in its final hour

versus premarket when it surged after a better than expected fourth quarter earnings report and a strong 20 2022 earnings forecast. shares zoomed up 8% before the opening bell, but they have lost all of that and just a bit more, down about half a percent after it forecast first quarter sales would be low estimates. so the bad news overshadowing the good there. how sweet it is for sweetgreen after its first post-ipo report, wider than expected losses, well, in that case they were overshadowed by a revenue beat and news that the same-store sales numbers rose 35% in a quarter. smith & wesson under fire after the market for guns has,s quote, cooled significantly from the height of the pandemic when nationwide riots are led to a rise in firearm p sales. if gunmaker missed on both top and bottom lines, shares getting hit down 12.33%. look at disney. i believe right now it is still

the laggard on the dow jones industrials falling 3.5%59 this hour after the parent of disney plus said it's going to roll out an ad-supported tier to its streaming service to launch later this year. the company said the move is a, quote, building block in achieving its goal of reaching 230 million-260 million subscribers by 2024. but clearly, investors see the move to add the cheaper tier as a grab for more subscribers as interest cools. no word on the tier's new pricing here, but at&t-owned warner media streaming news service, cnn plus, now has a price. it's just been released. i it will launch at $2.99, and after the first month will pop up to $5.99 a month. the network also is planning an ad-supported tier and a bundle with hbomax. the plan is to launch it around the close of the discovery/warner media merger. disney shares have been in

correction for a while because the shares are now down 30. from -- 30% from their recent high. as russia bombs communication towers, elon musk is keeping ukraine connected in the middle of the invasion. but now he's warning those starlink satellite antennas he sent to the region that are powering ukrainian smartphones could become the target of putin aggression in outer space. former fcc chairman ajit pai live exclusively next on whether the ground war becomes a space war. closing bell ringing in 28 minutes. the dow is falling 336 points, the nasdaq down 275, s&p down 32. you need to hear what ajit pai has to say. of we're back in a minute. ♪ ♪

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♪ ♪ liz: one of the very first targets russia took out on ukraine was a tv and communication tower knock out

wireless internet and television signals. that is when elon musk stepped in. the spacex ceo sent dozens of portable antennas to you to crane with the good intention of helping them connect to the internet via his starlink satellites. but musk is now warning ukraine -- ukrainians using the technology to connect to the outside world right now may become targets of russian airstrikes. musk is tweeting and with everyone aiding ukraine at risk of becoming a russian target, could an attack as our at -- satellites, as he puts this warning up, aka, how we commune if candidate with the world on the horizon? joining me now former fcc chairman and american enterprise institute non-resident fellow ajit pai. where cowe begin? if elon is right and the russians try to knock down the antenna on the ground, but maybe the satellites in the sky, what

does that mean and what does it equal? >> well, i think it's an unfortunate and even terrifying proposition to the extent that they're even contemplating such a move. and certainly, i think one of the key priorities the russian government has established is they want to control information by any means possible, knocking out the broadcast power, potentially interfering with internet access on the ground as well as potentially interfering with some of the satellites up in space. they want to control the information environment which is difficult in the internet age. but nonetheless, they've clearly shown they're willing to do a lot in order to achieve that, so i think everybody has to be on their guard. liz: did we ever get close to having russia knock out our communication satellites, and would that be a declaration of war? >> certainly not during my time in office at the fcc, we didn't see that. certainly, in a military environment, of course, there are different considerations that might apply, and i would have to defer to some of the experts on whether or not that would constitute an act of war.

i know you had a nato person on recently who said that could trigger article v obligations for member states, but one of the things we've found is the communications sector now is of great relevance to those involved in military operations. i think it's opened up an entirely new dimension. unfortunately, for policymakers and others, in the communications phase. liz: communication is getting blacked out in russia. just 1:00ing this afternoon eastern time they banned facebook, they just in the last couple of minutes banned twitter. and you start to see how the russians are getting pretty infuriated. there have been mass protests, and even now what is left on television there, russian television is getting troll by people. we found this clip from russian business television, their business network, where a prankster somehow claiming he was an economist got on the air to talk about the disaster that has become the has cow stock exchange. listen -- moscow, and it is subtitled.

[speaking russian] liz: okay. so what he said was i'm going to become sap that claus because i have to give away, you know, my job as an economist, etc. and then he picked up a bottle and pretended to drink alcohol saying, you know what? i'm drinking to the death of the stock exchange here in russia which, of course, has been frozen for the entire week. ajit, what do you see as the biggest harm of this tit for tat where countries are knocking russian television off the air, russia's knocking our television and the bbc off the a air? >> well, i think there's two different factors. number one is the ability of people in russia to get access to credible information when the russian government is essentially trying to exercise a monopoly on what information gets to them. that's a dangerous situation. and that clip, while funny, does underscore the fact that there is a thirst from russian citizens for real, meaningful public discourse, one that's being stifled by the russian

government. the second is from an economic perspective, obviously, information flows are critical across borders and now with the sanctions really taking effect, it's going to be the interesting to see what happens to the russian economy if they're not able to, for example, get liquidity from trading stocks or other types of instruments, tata's going to be very difficult for them to figure out how to make their economy function. i think it's a very dangerous time ahead, and i certainly hope that, of course, the russian government refrains from any further so-called special military operations in the in the ukraine. it's to the detriment of everyone in the region including their own country. liz: yeah. they do not see it that way, needless to say. as if we didn't have enough problems, a huge piece of a space rocket, apparently we're told -- we can't see it just yet because it's on the far side of the moon -- crashed into the moon today. and according to expercent its, there's something like -- experts, there's something like 128 million pieces of space junk or that are circling around in the atmosphere.

you were always concerned about this. how serious a problem do you foresee this becoming? >> it's a very serious problem. when i came into office in 2017, we saw that all of these low earth orbit satellite constellations were being launched and that the fcc didn't have updated regulations starting in 2004. so we put on the table some reforms. there were a lot more left to be done, however, because i think there are a lot of different satellites being launched, a lot of different constellations. and even a sickle centimeter of debris could damage another satellite or cause an unsafe space environment. the debris you're talking about was a 3-ton discarded rocket that that's thought to be chinese in origin that hit the moon at 5,000 miles an hour. that's a pretty serious piece of debris, and so everybody, united states and other countries, really need to make sure that debris regulations induce a safe space environment otherwise none of these satellite innovations are going to be able to take

place. liz: can i get a quick comment about developments inside the beltway? the candidate for your replacement, you know, fcc chair gigi sohn, the candidate, was approved by a senate committee down party lines, 14-14. your thoughts? >> it'll be up to the full nat to make a determination on that nomination just as they did mine, and every other commissioner who has the chance to serve, so i can't comment on that particular nomination except to say as in all similar cases, the senate has to exercise judgment. liz: ajit, thank you for joining us. an incredibly business busy -- busy news day. the dow still losing about 332 points, off session lows. ♪ ♪

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♪ liz: well, another reason russian oligarchs have to be furious with russian president vladimir putin, fox business the first to report that the world's largest luxury goods report or lvmh is the latest to announce it is closing its stores in russia. to charlie gas brie know -- >> by the way, this is louis vuitton, right? let's see. liz: very good. >> relate me see what's in here. [laughter] you know, for -- this is lizzie's. you've got a cvs card, $5 -- [laughter] liz: look for the gold eagle coin that i bought online. >> got some ripple in here, i mean, xrp. [laughter] this is not -- actually, we should not be laughing at this story, this is a serious story. most european companies have been boycotting russia or looking to close stores, move out. because of the tragedy that's in clothing and the ukraine -- up

folding in the ukraine which is a humanitarian crisis, refugees and just untold numbers of civilians that are dying because of vladimir putin's blood lust. amid all this, companies are moving out, u.s. companies are reassessing their relationship with russia. what was interesting is that lvmh, the big, huge french conglomerate that does this, right? this and a lot more, they were kind of silent, and they kept their stores open -- liz: shares getting killed, down 7%. >> now they are. they came out today, and ellie, my producer, first reported that they're considering closing permanently the stores. i think -- liz: permanently? >> that's what i heard, what we're hearing, and they are at least temporarily halting business. and i think that's going to begin on sunday. liz: viva he france. >> you know, the french have been interesting in that they

have not embraced the boycotts as much as everybody else. people have been saying what's up with macron, you know? he did have some dialogue with putin rather -- early on -- liz: rather harsh, just the other day. >> at first they were kind, like, dancing -- >> liz: he told putin on the phone the other day, you're lying. >> well, it's about time after how many people died. anyway, you do now see french businesses boycotting russia. i will say this, liz, and this is the interesting thing that i think is the reason why you see this sort of weird volatility in the markets. you know, at first it was the portfolio managers and the companies that did business in russia basically taking a hit based on their russian exposure, whether it's an investment fund or whatever, right? because they had to sell -- they were selling out of those things. now it's something different. every investment manager i know is looking at their portfolio and looking at the european assets and what their exposure

to russia. this is going to spill over to europe with, there is going to be a slowdown. all these companies, lvmh, they're under pressure -- liz: well, the chinese and russians are huge purchasers of all of these brands -- >> i guess you could do it online, right? liz: no, they'll shut it down. >> they'll shut it down online to do? okay. liz: like apple has done. >> just remember this, if you're an investor and you have money in a mutual fund or whatever, it's not just the russian exposure that could hurt you going forward, it's your exposure to european assets, stocks, bonds, whatever that have these companies that have exposure to russia. and that's what everybody's looking at right now, that sort of secondary exposure. because europe is going to go through a lot of economic pain with this. it's just the bottom line -- liz: look at this headline, charlie. new york's pension chief has sent a letter, he wants to

consider mcdonald's, pepsi, estee lauder, telling them they should consider pausing all russian operations, mcdonald's - >> well, mcdonald's is still operating over there, as you know. liz: they have tons of stores. a thousand. enter they built their first store in moscow, i think, in 1987. liz: and most of them are, i believe, owned by mcdonald's. they're not franchised. >> i'm just saying this is getting messy and, again, that's the reason why the markets are trying to forget out exposure. the u.s. may be somewhat blunted if you're in a u.s. investment fund, but if that fund has exposure to european assets, which a lot do, right? liz: yeah. >> these european assets are going to take a hit, obviously. liz: good to see you, charlie. can i have my if wallet back? >> i want to see what's in here. liz: there's a j. gordon liddy. p squared, putin and powell.

driving the markets w. today's countdown closer has a third p he says you need to be considering -- >> there's a marijuana cigarette. liz: you know, not funny. ♪ ♪

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become an agent of innovation with invesco qqq your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire liz: four minutes to go before the closing bell rings. the nasdaq down 1.7% and for the week down 3%. the dow is set to close lower for the fourth week in a row. ed the euro stocks banks index has been absolutely crushed. down 27% this month alone. we can show you the chart.

what this means is the entire banging system has been have much dinged, not thrown off, because they are heavily strong in liquidity. you see what happened. these are european banks. he they are all in here and it has been a very ugly time for those financials. you can point to putin for that. also we have power applying pressure to the market. joining me chief investment strategist dan stoball. what is the picture we are about to give to our viewers. >> these are companies doing well in the sectors showing good strength, in particular areas like coal and consumable fuels. oil and gas drilling.

even companies like retail are doing pretty well. companies in the ole area. neighbors industries, nbr in oil and gas drilling. clf is one we have had a strong buy recommendation on for quite some time. along with that, target and chevron, names that had been holding up well in some ways because of the geopolitical aspects. forthers because of company-specific issues. liz: whether it's target or cleveland cliffs. nickel has spiked. copper hitting an all-time record high. aren't you concerned that will work its way through their system and suppress some their stock prices? >> i think when you have to deal with higher input costs the

question is what is that going to do to their profit margins. will they be able to pass along those higher prices to the consumer? that's something our analyst believes is a possibility. even if they have lower earnings because of the increase in in2002 costs they will be able to make that up in increased sales because of the demands for these items with inflation peaking at this point, the concern is let's get it while we can before prices go even higher. i think we'll find one offsets the other. liz: do you expect this volatility to last until the ends of march or until this war is over? >> i think volatility is the name it sake of mid-term election years. usually 40% higher than the other three years of the presidential cycle.

add to that the worries about the fed and putin and that will keep volatility elevated. on a day where the greenback, the us will be dollar hitting a 2 1/2 year high. stocks are down off their lows. the other area spiking dramatically the entire n complex. "kudlow" is next. [♪♪♪] larry: hello, welcome to "kudlow." i'm larry kudlow. at the top i k again this evening, why is america buying any russian energy. when we do it at elevated oil prices like today's trading $115 a barrel. brent crude is $118. when we do that when pay into