we must be rigorous in the things that we need whether fossil fuels, a strong military, because, ultimately, that's the real world, and sometimes it's reflected in all that red. we'd better always be ready to meet those demands. meanwhile, buckle up. the last hour of trading, liz claman, she's got you covered. liz: yeah m well, we're hearing from russian negotiators saying that it's too soon to spoke of any if, quote, positive heldway after that third round of talks which just ended over an hour ago in belarus. that's got the markets baipted in a sea of red as the possibility of an embargo on russian oil continues to push crude and gasoline higher. late breaking news from the white house press department about that. the dow now in correction territory, down more than 10% from its recent record highs just down about 10.5% there. as you can see, we are at 32,957. will it close in correction?

our floor show panel is here to break down the market moves from energy to wheat, copper and the u.s. dollar, to why you should care about the tumbling russian ruble. meanwhile, in a 24/7 effort, the u.s. is airlifting weapons to ukraine's border, but as vlad vladimir -- vladimir withouten -- putin squeezes ukrainians, general jack keane is here live in kind of an interesting exchange for mig 29 gents that would then -- jets that would then be sent to ukraine, whether that is a strategy filled with promise. and the bat signal seen far and wild as the batman becomes the year's biggest box office hits. amc ceo adam around is here -- adam aaron is here on whether ticket pricing worked over the weekend and high -- why he's pursuing a crypto central. a red-hot selloff in progress in this final hour of trade. at one point the dow dropped

more than 700 points during the session, we're down 664 right now. the s&p and the nasdaq pushing deeper into correctionment we've got the broader s&p down 106, the nasdaq down 393. look at oil and energy. we thought the $10 swing in oil during a single session last week was stunning, so far today we have seen a $14 move from low to high. at one point oil blasted through $130.50. it's moderated in the aftermarket, we're at 119.31. but this afternoon word from d.c. that congress is working on a bipartisan bill to ban russian energy if imports. unity, imagine this, from both democrats and republicans on this issue. right now we've got crude at $119.21. we're going to keep a really close eye on that. and the king of electric vehicles, tesla's ceo elon musk tweeting: it's time for the world to break its against on oil. we need to increase oil and gas

output immediately. extraordinary times demand extraordinary measures. the long arm of inflation is choking soft commodities as well. not just energy. for the first -- sixth day in a row, limit up is the maximum price increase allowed in a single trading day, and wheat ended at $12.94 per bushel, the highest since march of 2008. traders worried about -yard line's -- ukraine's harvest going awry. by the way, russia has a currency that has plummeted to another fresh record low. you can't even see where it is on this board because our boards don't even -- [laughter] they're not even able to absorb is it. at one point today the ruble collapsed to.00 -- .07 of a penny. folks, just one month ago that number was at about 75. what are the aftershocks from

all of these developments? let's get to currency expert bny mellon daniel, stock technician expert scott redler and burt flickinger whose grandfather helped run the worldwide food distribution network during world war ii. daniel, i'll begin with you. you know, it's not enough to say there's this mass rush for the exits. there's a mass rush into safe havens, namely the u.s. dollar which hit its highest level since 2020. european currencies weakening, gold about 18 hours ago rose above $2,000 an ounce. is this a longer-term shift? >> i think it's very much a short-term fear because there's a lot of -- as you have mentioned before, there's a lot of uncertainty around what happens with commodities here. the good news out of this is that we need high oil prices to make a transition to the more, to a new renewables world.

and i think that the, again, higher oil prices are eventually going to end up being positive for the market. we're actually less worried about what happens over the next couple weeks. we think that the three months out is the inflation story somewhat more concerning. liz: okay. what about gasoline, daniel? we were looking at gasoline at a markedly higher price. i'm looking at arbob at the moment, and we do have it -- again, the wholesale price, because a lot of our viewers are paying more than this now, $3.56 per gallon. it is expected, and phil flynn's been saying this, that we could see $4 a gallon -- the actual average price. because, again, we know people are paying a lot more in different states. $4 by as early as tomorrow. what are the ramificationings as this works its way through the stock market? >> right.

that three bottom lines here, the first one is this is here to stay, right? so we will have to live with bottlenecks in the supply for quite some time. point number two is that given the uncertainties around the market, and this is actually the good news and the reason why we're seeing so much demand for safe bonds, we believe that central banks are going to be very cautious going forward. we think that they're going to deliver hikes, but the hikes are going to be less than -- [inaudible] liz: okay. >> and point number three is that we're going to see a gradual transition to renewablings. liz: i want to get to burt flickinger. burt, wheat. it's down slightly today after an a unbelievable spike, but this year to date chart really tells an aarm la -- alarming story. we set an all-time high, corn is not far behind. tell me exactly what investments are going to get dinged by this and which ones are opportunities and the worry that you have knowing with your family background of food and food

prices and the supply chain what this leads to. >> liz, from your award-winning background, worldwide, there's nobody in any country or continent that knows better than you, common sense is very uncommon in just about every capital in the world, and the implications for that, record-breaking inflation worse in 50 years, and it's going to go even higher for the next 15 months. it's going to make permanent the brand manufacturers are price gouging so even when the commodity costs go down for wheat which, like you said, has doubled and operates which has doubled, corn and soybeans doubled to tripled, corn and soybeans, the prices are not going to come down for a box of cereal or a box of pasta, beverages, etc. so consumers are literally going to go back to the bread bag of the 1970s when they couldn't afford gas, home energy and groceries and couldn't afford shoes, so they wore plastic

bread bags with rubber bands on their feet. unprecedented proportions, liz. it'll be worse at the end of the year than it was at the beginning of the year. liz: wait, why? i mean, in this situation, hopefully, is somehow ameliorated, why will it be worse? >> liz, as you know from your fantastic family history going from russia to the you'lls d uralings that crane's -- ukraine's the breadbasket of the world. lots of production problems and with the bad weather reported on fox weatherer.com in u.s. and canada, grain stocks and the silos are some of the lowest they've been in several crop years, and the production world wild is going to be some of the worst in several crop years. liz: okay. you know, this goes to all of the base metals and the industrial metals whether it's

palladium, copper hit a brand new high starting last week. we know that nickel has been just atrocious. this is an unbelievable price hike that we're seeing there whether it's titanium, platinum. and, scott redler, before we get to the real opportunities because there is in fear opportunity depending on the prism through which you look, i wanted to just show for people because the gasoline and oil story's going to be pretty serious. the price of a gallon of gasoline, and we broke it down in this graphic for you, 56% of the price is from crude oil. the rest is from taxes and distribution and marketing, refining. but, to me, it really all comes down to the refiners and the integrated oils at this point. i would imagine there are not real opportunities there, but where have you seen some previously hot names come down so much, up to 50% off their recent highs where you say it's time to get in here?

>> well, it depends on your time frame if. we've seen in these high growth names that have been pretty much 50% off, they can go up 70%, 80%. so if there is an investor looking to buy some of these names that are on sale, so to speak, they just need to know their time horizon and not be on margin. so we want to discuss some names that could potentially come back and be good opportunities, but they'll probably take time. you need to go with the blue chips. some names will never go back to the highs they were at in the last year, but from these entries slowly you can make some money. i think, you know, we talked about facebook, right? facebook was at high as 350 plus, it's trading below 190. i think for investors long term, i think it's meta now, they're going to went 3.0. that -- web 3.0. that's the cheapest it's ever been. facebook for investors could be an opportunity from here and below. and if they want to be a little more aggressive, i think snapchat, okay, which had a great water what, was just

thrown out because of the the market dynamics. i think those could be looked at from here down if you're an investor. i also think palantir, a different sector, pltr. that was, what, 35 plus a year or so ago, now it's trading at 11.5. i think just because karat cathie wood had her name on it, it got a little more abused, but it is data analytics. it also has to deal with the military, and i do think from here, you know, there's an opportunity in the hole, we call it, when there's fear everywhere. and lastly, you know, i do also think, what's it called, paypal. the stock was 300 plus, it's trading at 95. i think those four stocks are all in different types of sectors besides facebook and snapchat. i think if investors want to start looking at that with the time horizon and no margin, they'll be okay. liz: paypal, you said what's it called again? [laughter] that's amazing because that was one of the hot stocks but, boy, it has taken a real haircut

here. gentlemen if, thank you very much. daniel, burt, as always, and scott. we appreciate your perspective. i am checking the nasdaq, we are down 417 points right now, a full 3% loss. the domino effect of the war in ukraine is hitting fertilizer stocks. they have absolutely soaring with some of the biggest producers seeing major upticks. intrepid if potash, up 51%. cf industries, that one's jumping 33% year to date, while mosaic has soared more than 53%. fertilizer prices last year had already seen a 67% jump over 20. well, now in the midst of the war russia and belarus among the world's biggest ferret ifizer producers cannot ship any of their product out due to the fighting, and the repercussions are being felt with the growing season just a few weeks ago -- out. lydia hu is at an animal feed

farm. >> reporter: hi, liz. this is hay for the animal field. he says he's really feeling the pinch from these rising fertilizer costs which so far have been primarily driven by the rising price of natural gas. he already had to hike the prices by a buck at the beginning of the year, now he tells me he's looking at another price increase of about 25-30%, and get this, liz, last year he fertilized 300 acres for $17,000 in fertilizer cost. this year he's looking at fertilizing about half that but paying double, $34,000. >> my fear is that we're going to probably lose money this year. some farmers will sit it out. they'll say, never mind, i'm not going to fertilize my fields this year. if i know before i even plant the crop, why am i doing it? they'll let the fields go fallow. >> reporter: now, you can see here that prices are already up

as much as 93% for some typeds of fertilizer from a year ago, and now with the conflict in russia cutting down on supply if, farmers are bracing for the price of fertilizer to skyrocket further from here. there are some concerns about hoarding and supplies running out, and just like this farmer has to pass the cost along to consumers, so too will other farmers coming up on top of the red hot inflation that we already see including the grocery store we know is costing about 7.4% more now than it did last year. and on top of that, liz, world food produces are setting records. last month the united nations said food prices around the world cost 24% more than a year ago. all of this means americans should really brace to see more food price increases in their grocery stores. liz: this all began with the pandemic and the post-pandemic supply chain crunch and now this situation out of europe, pretty

unbelievable. lydia, thank you. and thank you to the farmers who have been so kind to let us be there. we are at session lows right now. at the moment we do have the nasdaq down now 3.25, so tech is getting hammered. dow jones industrials down 717 points. russia is the world's fourth largest movie a market, but hollywood is icing the empire out. in the 11th hour last week, warner brothers pulled the new batman movie from russian screens as amc cashes in on on the caped crusader, ceo adam aron is here on batman's box office success. how his theater community is looking at what hollywood is doing right now when it comes to russia and so much more. how did his surge pricing test work out for tickets? closing bell ringing in 45 minutes. "the claman countdown" is coming right back. ♪ ♪

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liz: warner brothers' "batman," we're just getting some detailed numbers, flew out of the shadows with u.s. ticket sales bringing in $134 million with international sales of $254 million. dc's caped crusader claiming the

second biggest domestic of the year, and robert pattenton's the batman sold more than 4 million tickets globally -- robert pattenson. amc entertainment for its third highest attended weekend in two years. the batman hit theaters, chairman and president, ceo adam aron joins us. i understand there was a scramble today to update the box office numbers because sunday is ticket sales came in way better than expected. how did amc fare? give us your best numbers. >> what you just said is, liz, is correct. and, boy, did we have a great weekend. it was our third biggest weekend in over two years, our third big withest weekend of the pandemic era -- biggest, second only to spider-man because the first weekend and the second week of spider-man: no way home were the two largest weekends.

warner brothers has a huge hit on its hands. it's got an 89% rotten tomatoes audience score. as i said, it was our third biggest weekend in more than two years. we're just thrilled. liz: you must be thrilled. you also the did a pilot program this time around on -- i like how you called it variable pricing. okay, it's surge pricing because the more popular blockbuster films, you have said you might charge a bit more. you tested that. how did that work out? >> well, it was quite successful, but i don't want to use the word surge because we only increase the price about a dollar. i think that's -- i mean, it is a price increase, but it's a nominal price increase. and it was a big success. our market share, which is normally around 25% in the united states, was 29% on this opening batman weekend.

so it's all signs go. liz: there is, obviously, a dramatic situation in eastern europe. warper brothers pulled the -- warner brothers pull9 the batman movie from russia. it was supposed to open march 3rd, and in the 11th hour, they said forget it, you're not getting it. you've got a lot of companies saying, forget it, we are not going to be party to this. russia is the fourth largest film-going audience country, and i'm just interested to know how the theater operators feel about hollywood movie makers saying we're out. >> well, amc, the largest exhibitor in the united states and also the largest in europe, we don't actually have any theaters in russia or the ukraine or, for that matter, anywhere in eastern europe. so we're sort of a bystander to this directly. but everyone in the world has their eyes glued to what's going on on the continent of europe

with. this is the largest ground war in europe in more than 75 years. as you're reporting, it's not good for the dow jones, for stocks generally. obviously, we hope that there can be a peaceful resolution to this as soon as possible. liz: of course. i want to get quickly to cryptocurrency. you're taking some, delving into this. what is the business benefit that you see long term? we talked about this for a while, that you're very interested in pursuing crypto, and you're already taking it in some cases. where do you see the real opportunity for the bottom line? >> well, let me tell you the side benefit of having to program our computers to take cryptocurrency -- [laughter] we also had to program our computers to take apple pay, google pay and paypal payments, and those three already are 15% of our total online ticketing. so already there's been an immediate benefit. look, only time will tell how big cryptocurrency is. if there's an enormous

opportunity for amc, i think it might be to actually issue our own cryptocurrency. but the regulatory framework around crypto is rapidly changing. amc is a company that, as always a, wants to stay very far on the right side of the law. we certainly would never dream of doing anything but complying with every regulatory guy dance there is for crypto. but that's the opportunity. we'll have to watch and see if we're able to take advantage of it. liz: adam, congratulations on the big opening weekend of the "batman," and is we'll continue to watch the ticket prices and everything that comes with it. thank you so much. >> hey, liz, who says movie theaters are dead? those people are wrong. liz: well, this was also exclusive theater opening, no streaming. that probably helped too. >> yes, it did. liz: good to see you, adam, thank you. well, amc is most always in

the top ten when it comes to meme chatter. one of the biggest names behind the intier movement now setting its site -- sights on a new target. where ryan cohen is placing a fresh bet. we'll tell you next. closing bell ringing in 36 minutes. we're coming right back. the dow down 713 points. ♪ ♪ i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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and a -- buy if buy baby and a full sale of the company. if the stock has been down more than 42% over the past year. cohen is known for, yes, igniting that meme stock craze after he was added to gamestop's board back in january 2021. for its part, gamestop is down 12% today to $98.26 a share. everything's coming up clovers after board member chelsea clinton bought 100,000 shares of clover health investments. filings show the daughter of former president bill clinton and former secretary of state hillary clinton bought the stock last thursday at a valuation of more than a quarter9 of a million dollars. the health insurer has been lagging badly, down 72% over the past year, but this purchase that hillary -- that chelsea clinton has jumped in with has the stock popping 20% and stops a six-day slide. when one billionaire exits, another enters.

warren buffett's berkshire hathaway owns now about a 10% stack in occidental petroleum. the stake is valued at more than $5 billion. now, buffetted had financed occi's bid to purchase anadarko in 2019, a move visit sized by carl icahn. criticized. icahn had upped his stake back in march of 2020. are you following he? -- me? now according to "the wall street journal," icahn has sold the last of that stake and instead is focused on the utility southwest gas. he's also running a proxy contest at mcdonald's, he holds a tiny stake, a 4.9% stake in downstream energy company -- holdings which announced plans to repurchase shares from icahn today. southwest is up just about 1%, mcdonald's and delek down a fraction. a no-fly zone is a no go over ukraine still at at this

how -- hour, but could the pentagon be about to trade to aid e the resistance? general jack keane joins us live next on the latest in this 12-day-old conflict and whether that kind of trade will work. closing bell, 28 and a half minutes away. we've got the dow could be 706, s&p losing 115, the nasdaq down 424. ♪ ♪ ♪♪ ♪♪ ♪♪ at adp, we understand business today

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you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! liz: breaking news, we want to take you live to the pentagon where press secretary john kirby is holding a news conference right now. he has just told reporters that russian forces are trying to encircling the port city of mariupol at this hour, but kirby also is saying that the russian military has not made any notable progress in its invasion of north and northeast ukraine over the past few days.

meanwhile, talks between ukrainian and russian negotiators earlier today in belarus went absolutely nowhere. russia said, sure, we'll end the hostilities if ukraine gives up entirely on any claim to crimea which, of course, is now part of russia, or any claim to the two contested states in the northeast. there will be a fourth round of talks soon. let's bring in retired four-star general and and fox news senior strategic analyst general jack keane. general, i don't even know what to say. first of all, mariupol is being encircled. maybe we can show a map right now, and you can see what's happening. mariupol was supposed to be one of the so-called humanitarian corridors where people could escape safely. turns out they were mined. so this is just a complete disaster at the moment. where do we stand on mening these poor -yard linings -- helping these poor ukrainians deal with the situation? >> well, first of all, the situation report by admiral

kirby certainly is the correct one. there's been no territorial shift of any consequence in the last couple of days. certainly, the efforts in the north have completely stalled. ukrainian military is reporting that the russians, it looks like the russians are getting ready to restart their offensive on kyiv somewhere in the next couple of days. preparations are being made. of course, they've done that three or four times to no avail. they haven't made any real progress. they intend to encircle that city much as they're doing mariupol. mare mariupol is certainly a major humanitarian disaster as we speak. they've surrounded and pummeled that city, and they certainly went to a ceasefire, and they violated that ceasefire twice, and civilians were killed as a result of -- the russians, for our audience to understand, has violated every ceasefire they've ever been involved in going back to ukraine 2014 plus and also in syria for a number of years.

this is what they. do. and for our audience also to appreciate, as much as military forces in ukraine are assigned a military objective to defeat the ukrainian military, they are also assigned a military objective to defeat the ukrainian people. and that is what we're seeing. it is part of their war plan to pummel these cities and to kill thousands of -yard line withen people, innocent women and children, because they want to force that killing and that horrific result on the government of ukraine and force them to ca -- capitulate. this is the russian way of war. they've done it in chechnya, syria and now here. liz: 625 missiles and counting have been lobbed at ukraine from russia. we know that there's a 24/7 mass airlift that is going on where c-17s from the united states are bringing in weaponry,

javelins, singer -- stinger missiles. the javelins are, of course, fire and forget it. they'll go right where they need to go and hit those tanks, those russian tanks. the stingers, anti-aircraft. is this enough or at some point, general, are we going to have to do something more? >> well, this path that we're on here with providing tanging assistance like this is absolutely crucial -- tangible assistance. as the russians, fortunately, they are being bogged down and stalled as this war becomes protracted. we're only in the first couple of weeks of the war, 12 days, and some go on a lot longer than that. the challenge for the united states and and nato is to continue to provide the quantity and quality of the arms and munitions that the ukrainian's need, because these munitions are truly making a difference. anti-tank weapons are killing tanks and other armored vehicle-

liz: right. >> -- and stinger missiles and the like bringing down airplanes. we have got to continue that. i don't know why -- or maybe we have -- given them anti-ship missiles. i hope we have, as those ships approach the port of odesa. liz: i want to just quickly ask, there is this possible trade that's being discussed where the united states would bring f-16s to poland. poland, in turn, would take their migs and give them to the ukrainians who are more familiar with that aircraft. how quickly could something like that happen, and is it even a possibility? do you think it will happen? >> well, i think it's a distinct possibility, and i like it. it's got some imagination associated with it as far as i'm concerned. the ukrainians, remarkably, liz, are still flying much of their aircraft. and i think they probably have home based some of that in romania and get it back into the theater. if they can get additional airplanes, of course, it will

certainly make a difference. i believe somebody from russia has probably made a phone call to senior political leaders in poland and likely have told them if you do that, we're going to look at it as an act of war. and i think putin and his cronies will continue to do this. they're going to say sanctions are an act of war as they did over the weekend. they're going to say conning to provide arms to the ukrainian's is an act of -- ukrainians is an about of war. and we've got to have to the spine to stand up to that. but just look at the facts. most of its army is bogged down in ukraine not making much progress. can they really afford to take on nato on top of that when they're already deployed in a war zone? i doubt9 that seriously. so we have got to stand the up to this rhetoric and do what's right. liz: agreed. general jack keane, appreciate you coming on. >> yeah.

great talking to you, liz, thank you. liz: wonderful to have you. as russia's economy continues to deteriorate because of those sanctions, wall street banks are making big bets on russian debt. who's buying and why? charlie breaking it next. closing bell, 18 minutes away. we are now at fresh lows. just a minute ago we were down more than what we had started, and right now we're down 713, and it's the nasdaq that's just getting absolutely crushed. we're coming right back. ♪ ♪

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♪ liz: breaking news, and this is just hitting the tape, tech news web site the information reporting that dog finish google is in talks to buy mandiant. the price tag, $4.5 billion.

mandiant's stock, which just resumed trading after being halted, is popping 1.2%. -- 13.2%. google alphabet down about 4%. mandiant had been bought by a private equity outfit, again, still mix publicly trading, but up 13% for mandiant for a gain of $2.56. we shall see if google is able to come through with that or if there's any credence to that report. the russian ruble, we told you at the top of the show, sinking to fresh lows this afternoon as traders say fewer banks willing to even settle transactions using the fallen currency. but wall street's big banks are reportedly snapping up russian bonds as they fall to record low prices. charlie gasparino here on the banks and how, well, listen, negative connotation to say vultures, but this is where you make money. >> this is called vulture investing. i covered it back over the years, i remember covering it back in the early 1990s when

the s&l crisis and the junk bond crisis, people were buying all sorts of stuff on the cheap. and we see a degree of that now. now, i can't tell you how much of this is going on. i'm not on a trading desk. obviously, there's a huge negative connotation to this, and some money managers are saying don't go there. i know that for a fact. i know at blackrock, or don't go there, okay? that's what i'm hearing -- liz: too dangerous. >> it looks so bad, okay? but what we do know is certain places are doing it and not denying it when we call them. pimco, the big bond fund manager, we understand they're doing some of it. we understand goldman's doing some of it, one of the more aggressive trading shops on the planet and, you know, guess what? when you get russian bonds at pennies on the dollar and, you know, and you can buy it even cheaper because the ruble's cheap -- liz: the ruble, it's now at about 140 rubles to the dollar. just a month ago it took only 75

to buy a dollar. >> so if you get one dollar, you're trying to translate into rubles, you can buy at lot of bonds for a dollar because you have to buy it in rubles. where you get screwed is if the russian ruble sort of comes back, right? so then you do get screwed on the currency exchange because then the ruble becomes stronger. you get less dollars for the ruble. however, you make money as it appreciates. we're also hearing another name that's coming up is jpmorgan is at least making markets of these things. so this is interesting. it's going to be a kind of, how can i put it, it's going to be controversial as more and more of this goes on. i will say this -- liz: sorry, can we put up the dow? we are now at session lows. >> you know, i looked at the nasdaq, and i said did the dow just come back? liz: yeah. we're making fresh bottoms here. nasdaq is one point away from bear market. >> okay. just so you know, what we're talking about is a distress play

here. this is, what we're talking about is divorce from the market. and some of it is based on, liz, it's based on they think maybe this thing could be over. there's a she their owe -- scenario where the ukrainians could win this and everything goes back to the way it was before. that's kind of the bet here. and, by the way, these firms are not highly leveraged. they're making strategic bets. they're not betting the ranch on all this. getting back to the markets, if you ever read george soros, i know a lot of people hate him because of his politics. he wrote a book about the mind of the markets, and, you know, herd mentalities change very fast. and sometimes it's just a reflection point to make everything dow looks like the glass is half empty than after half full. clearly, we were going into an environment of rising interest rates which i always warn people just watch out when that happens because if he's raising it 50 basis points, you know, that's a pretty aggressive move, and

stocks will trade off, things will normalize. very risky investment like meme stocks, butt up gme and -- put up gm if e and amc. liz: they were down earlier, gamestop down about 11%, and amc is down 8.4%. >> after you had him on, it went down further. no offense. liz: in your fever dreams. >> no, it was trading down -- [laughter] liz: they had a great weekend. i feel investors are look, you can agree or disagree, you're looking at the screen right now, the dow losing 770 points -- >> everything looks bad. >> liz: man, do i wish i hadn't worn red today. >> listen, the market needs a little bit of a puke. it was way overvalued. amc should not be trading at $5 a share -- 15 a share. liz: could we show oil, please? once again we just went down about -- >> by the way, liz, this is the

spark which people start looking at everything glass half full. and then you've got the fed. i mean, they're going to walk into massive inflation. the cpi number's going to go through the roof. it's announced in a couple of weeks? liz: thursday. >> that's going to be nasty. liz: again, consumer price index, this is the price consumers pay americans for goods that they buy for for their households whether that's food, rent, energy, gasoline -- >> gas is 4% of the cpi. liz: arbob up about 1% -- >> now, it's last month's number, right? okay, so it's not going to reflect the -- what do we have the print of oil now? 120. so it's not going to reflect that, but it is going to reflect higher oil prices. this is going to be a tough, tough time for investors. liz: i want to look at travel stocks, can we do that? they are getting slaughtered right now. obviously, with the high energy prices that it takes to run

things like cruise ships, airlines, this is a terrible confluence of issues that are coming together at moment. so we've got nor e wee january, royal caribbean, carnival, all of them are moving pretty dramatically lower at the moment. airlines are, obviously, getting just smacked at the moment. delta down 12.7%, american down 12.25. jetblue down 13. united airlines is down 14.9%. they had to suspend certain flights to india because in the past they had to fly over russian air space. they are not going to do that right now. so at moment you see airlines getting hurt, and there are your cruise lines down anywhere from 6% to norwegian down 11.5%. let's bring in our countdown closers, wealth management r -- cio john lynch and value engine capital management chief equity strategist jordan kimmel. jordan, can i just get your thought on what charlie just

said, and that is suddenly now really smart investors are looking at these red numbers and saying glass is now half full, not empty, things are cheap? >> well, you know, liz, a couple of months ago when i came on, you asked me what i'd buy right then, i said there would be blood in the streets, and i didn't realize there'd be this much blood and all over international. but, sure, the market has gotten cheaper, some quality stocks are available at lower prices. but what also happened is the nasdaq bubble got burst, and there are lots of companies that were trading at 190 times price to sales or 160 times price to sales. they're still not cheap. so, you know, you have to be really careful, you have to be really selective. and you know me, in the best of times only 1% of companies -- liz: nay -- anyway -- >> so i don't think we've hit bottom yet, and i think simply if you had a real long term, you

could nibble at high quality. but the nasdaq advanced decline hit a brand new low last week. this is a very rough market, and things are simply -- most things are ott not cheap. liz: john, just a moment ago -- we're right there actually, the nasdaq is now in bear territory. you need to see a loss of about 467 points. so at the moment we're down 469. where do you see the >> thank you, liz. larry: good afternoon. i think from an opportunity standpoint. the investors need for trends going into the geopolitical conflict. we had seen value firming to relative to growth. we had seen the s&p 500 firming relative to the nasdaq 100. we had seen equal weighted s&p index outperform the cap weighted index. so all those indications, value growth, all those, are looking at relative outperformance. so they're still down but not

down as much and i think as we get some clarity here we've seen hisser toally geopolitical events don't change the trend, they reinforce the trend and that is what viewers should count on. liz: i need viewers to understand i'm looking at my screens, currencies commodities, and looking at headlines. there is this headline, simply says john kirby giving the press conference at the pentagon, u.s. is assessing russia's move towards long-range strikes. those are increasing civilian casualties, damage to civilian infrastructure. clearly you guys are not more experts, we just had general jack keane on, he truly feel this is is ramping up. we're right on the bored of ukraine where general mark milley is overseeing he made an

unknownsed trip, didn't way which country, he is there watching c-17 bring all kinds of weaponry to ukraine. i think you're right. things could only ramp up. we haven't seen the bottom yet. what is at play here? >> don't blame yourself wearing red, has nothing to do with it, okay? they need to sit down and talk and i don't see that happening. so let me just also point out important to me not went down the most but in this market, what went down the least and on the lowest volume is really what's in the best hands and there are some high quality, large cap drug companies, the regenerons, vertex, on the model is selecting them. abbvies with nice dividends. people make the mistake what went down the most but i'm going to tell you that some nasdaq stocks that are down 50% will get cut in half again because they were just bid up, i think

ridiculously and when people are confident, liz, they will buy anything at any price. and when the confidence goes out even high quality gets overshot to the negative. so you have to be super careful. high quality and focus on cash flow, cash flow. liz: i want to get john in here. we have one minute left before the closing bell rings. the volatility index is up about 12%. we see a spike to 35.82. what is your long term game here for your investors, john? >> with the vix at 35 to see capitulation we need to see put calls blow out and i think the vix at a 4 handle. when we get to that i think long-term conviction playing value play i recommended earlier, and to the other guests comments about quality stocks, finding value names, large cap value names in the material space, in the industrial space, yes, even some defensive characteristics within health

care. longer term i think the market can run commensurate with profits 8% this year where we began january 1st. liz: john lynch, jordan kimmel. on a very crazy wild day. [closing bell rings] looks like the dow will close down more than 800 points. nasdaq closes in bear market territory. as you can see it's a day of red on the screen. that will do it for us. "kudlow" is next. ♪. david: hello, everyone, welcome to "kudlow," i'm david asman in for larry kudlow. ukraine rejecting a proposal to deliver citizens to belarus. russia said it will hold fire around major ukrainian cities. kremlin has been accused of breaking two similar agreements over the weekend. reports on the ground so-called humanitarian corridors for escaping civilians have