to make it happen. so they're not really that entitled in my opinion, especially when they're competing against blackrock. all right, folks, a little sloppy session here. we moved the needle a little bit, so i'm giving my friend liz claman a little bit more than i had coming into my show. take us over the top, liz. liz: let's see what we can do. the top is about 203 points awa- charles: you can do it. liz: we'll do our best, charles. president biden announcing the largest release of oil reserves in history, one million barrels per day set to be released other the next six months is -- it is working right now. on your screen west texas intermediate dropping 6.33% to $100.95 a barrel, that's a cut of about $6.84 off the a barrel at the moment p. now, at this hour we're going to show you what gasoline prices are doing

as well, and we'll take you straight to the white house for what the president said that has energy prices turning tail right now. vladimir putinen's assault on ukraine part of the reason oil prices have spiked, but his bloody battle shows no sign of stopping amid reports of heavy shelling in eastern ukraine and a military shift to the donbas region. the russian president also demanding oil and gas payments in rubles. one french bank is hours away from cutting off its russian -- completely. the bnp paribas ceo is here on how his bank is helping his global clients hedge against the worrisome headlines. and as the u.s. struggles to rein in russia, the securities and exchange commission is aiming at chinese stocks. the sec has just added a new chinese company to its list of u.s.-bested companies in jeopardy of getting booted off our exchanges, whether u.s.

investors should at least for now stay away from chinese stocks or dive right in. wall street closing out on ugly quarter on this final trading day of march with losses across the board for the first quarter and the worst for the dow, s&p and nasdaq since the start of the pandemic. thanks to high inflation, the coronavirus and the war in ukraine, it's bruising the u.s. and global markets at this moment. but right now, this breaking news. amazon, is it about to see one of its warehouses go union for the very first time? as we speak, votes are being tallied at amazon's warehouse in staten island, new york. and by the way, a do-over election is concurrently happening in alabama at one of those warehouses at this hour. right now alabama stands at 500 votes gwen unionizing -- against unionizing and 425 for unionizing. staten island union election stands at 466 votes against unionizing but 550 for unions.

okay. we've got more ballots still to count. we're keeping an eye on this. amazon shares are flat to slightly lower. early counts show a potential landmark victory at least in staten island for organized labor in the new york warehouse while the early tally in alabama indicates too close to call right now. last year amazon won by a 2 to 1 margin there. if final results show workers voted for a union, it would be a historic first at the online retail giant which has long opposed any effort to organize its workers. let us get to this breaking news, another historic move by president biden at this hour has oil and gasoline prices plummeting. his administration announced the largest release of crude oil in u.s. history. in an effort, of course, to stop rising energy prices dead in their tracks. the president says he has ordered 180 million if barrels from the strategic patrol petroleum reserve to come gushing forth. he claims the move will shave

from 10-35 cents off each gallon of gasoline to start. the unprecedented government intervention comes at a time when the biden administration is doubling down on american innovation. listen. >> i'm going to continue to use every tool at my disposal to protect you from putin's price hike. it's not time for politics. america's, americans can't afford that right now. so let's meet this moment together. remember, we're the only nation that has turned every crisis we ever faced into an opportunity. we have a crisis. the price at the pump. so let's show some true strength in this nation, show our unity, our resolve, our innovative spirit in america. liz: edward lawrence live at the white house. it is making a difference for now. we have gasoline, the wholesale price, down about 4%, but give us a sense how long we can expect it to continue to put a lid on these high prices. >> reporter: see, and that's the big question here. the president calling this a

wartime relief of, as you said, one million barrels a day for the next six months every single day. the last two releases that president biden and this administration made, one in november and one in march, they did not have the intended effect overall. you see where the reserves are right now. the release will happen over the next six months from this point down. now, the president also calling on congress to add an additional fee placed on oil companies that are holding unused leases. he went on to partially blame companies for the rising gas prices, but the president could not say exactly when those gas prices would start coming down. listen. >> there's no firm answer to it, but prices already came down when it was announced ahead of time that biden was going to release so much, so much energy, so many barrels of oil from the spro. they've already come down. my guess is we'll see it continue to come down, but how far down i don't think anyone can tell. and there's going to be a slight dray because if you go out there

and you're a gas with station and you've purchased x amount of gas at a certain price, you're not going to lower the price at the pump until you're able to get back what you invested. >> reporter: so the white house talks about unused leases. the american petroleum institute says the moment a company gets a lease, they're paying royalties on it, so there's no incentive to sit on the lease. the administration talking about 9,000 leases. the petroleum group says that 4600 are awaiting approval by the department of interior to start actually drilling, a permit to drill, thousands more tide up if lawsuits by environmentalists. so with the moves the white house says that a gas prices will come down. you heard the president say that. aaa though today said that the average price of gas for a gallon of regular is $1.36 more than a year ago and much closer to the record high set earlier this month. the industry can look forward to no changes in regulations or policies just at the moment accusations and a greater push to get oil companies to invest

and start drilling a little bit more. liz? liz: edward lawrence, thank you very much. so the question becomes the markets. now, look at the s&p 500. it has cut its losses in half after sinking to session lows when the president revealed his plans to tap the petroleum reserve. oil and gasoline, well, they are continuing to show losses at this point which was, of course, the hopeful intended effect that we're quite sure the administration had. if you look at the drillers at the moment, bp, chevron, exxonmobil are all falling at the moment, but even as the president lays out a plan to ease energy prices, the electric vehicles whether it's tesla, live january -- rivian, stellantis, all heading south except for tesla which is flat to barely higher at the moment. 10 of-year -- 10-year treasury yield is slightly higher than the 2-year, but the economic outlook still remains cloudy. markets closing out the worst

quarter in 24 months but always a silver lining, right in the best month so far of 2022. okay, we're only in-under-par. while we don't have clarity on the war many ukraine, will inflation be cut down with the federal reserve rate hikes, and what's going to happen in the second quarter? let's get right to our floor show trade thers. joining me now, phil flynn and scott bauer. phil, first, to your with thoughts on what the president did and the effect we're seeing right now at least when you start to see what's happening. we do have oil prices dropping in the after market. >> it's another promise by a politician that that e can't keep. -- he can't keep and a logistical nightmare that he's promising, a million barrels a day from the strategic petroleum reserve, logistically it's impossible -- hayes liz wait a minute, why are you saying that? i saw that the capacity can handle up to 3-4 million barrels a day of relief -- >> right. that is not the spr web site,

the real estate is -- reality is that's a number that would take months and years to get to. the reality is they can move about 500,000 barrels a day right now. in fact, if you rook over the last couple of months with these reserves, that's about all they can do. last week the strategic petroleum reserve, interestingly enough, released 3 million barrels from the reserve. what a great day, right? if look at u.s. inventories, they still fell by 3.4 million barrels a day. in other words, we're going to have a very, very tight energy market, and i think that the market's going to wake up to reality in the next couple weeks. whenever we get these headlines, it's like, we're going to move this oil, but traders realize it's not going to amount to enough, two days of total supply, and we're not going to get it as fast as we think. i think the market's going to rebound back quickly. liz: this is interesting. we do need to hear from the

experts like you to find out if this is even a possibility. scott bauer, we do see markets in the red for the month of march. last day of the quarter, last day of the month, but we certainly have had a better wee- [laughter] i mean, if you're talking specifically about how the markets are responding, let's spin it forward to the second quarter. would you be investing here ahead of the second quarter? >> liz, i think that's really tough, you know? people are feeling better than we were, you know, a week, two, three weeks ago, but there's certainly a massive amount of uncertainty abounding between inflation risks running high and the inverted yield curve, obviously, the ongoing conflict in ukraine, all those do not paint the most bullish backdrop for, you know, the second quarter coming up. and the immediate threat, you know, as you and phil were just talking about, is high energy prices, rising food prices and the supply chains are still disrupted. you know, they're not really getting that much better. now, we take all of that and you look at consumer confidence,

consumer confidence, this was the worst number that that we got in about a decade, but yet people are still spending. it's unbelievable how resilient the consumer is and how the economy is right now. that being said, liz, i think the second quarter's going to be as rocky if not more so than the first one, especially as we move closer and closer to that next fed meeting and more uncertainty, you know, comes into the marketplace, 25 points, 50 basis point hike, whatever that is. going beyond that by the end of the year, i think we're higher. the next quarter though i think we're in for some rockied road. liz: okay. so please tell our investor audience what you guys are doing. phil, you first. what are you buying, what are you selling? >> i think the sun comes out tomorrow, liz. i'm actually pretty optimistic on the second quarter. we know a lot of -- scott's right about the inflation and energy prices. but i think we priced in a lot of those fears during the last quarter, so now at least we know

what we're dealing with. look at corporate profits, they're still very, very high, and we have some clarity, we'll have more clarity on interest rates where we're at. so i actually think things can go back up. you don't really want to be short the stock market in times of war. warren buffett has said the same things, right? is. liz: true, true. >> i think energy companies are going to do good, i think tesla's going to come back. but i think you're going to see a lot of the materials do good, there's a commodities squeeze right now. commodity companies are going to do bell well -- do well. so i i think we're actually going to beat next quarter. of course, it's always nice to say that if you have a lousy quarter, the odds are things are going to look up tomorrow. liz: scott, we gotta go. give me a couple of names. >> be long jpmorgan, citibank with, maybe goldman sachs, and also it's a great time to buy protection because volatility is down so much from where we have been over the last 4-8 weeks or

so. liz: yeah. to your point, phil, tesla's at $1,090, annual low, 546. that window was missed. do what buffett if doe when everybody's nervous and running away, he goes in. phil, scott, great to see you. folks, how the mighty are falling at this hour. buy due shares are losing -- baidu shares are losing as the sec takes aim at the chinese darling, down 6.7. the latest u.s.-listed chinese stock to face scrutiny. when it comes to these chinese equities, who's the bigger threat, u.s. regulators or china's own government? gordon chang, who's the big china expert and beige book ceo leland miller joining us on whether it's too dangerous to be invest in chinese companies. closing bell, 47 minutes away. "the claman countdown" coming right back.

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it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. liz: first it was china attacking its own publicly-traded companies, and now the u.s. is piling on.

sides are in talks at this hour after the sec added a new tranche of chinese stocks to the list of companies it says will be kicked off u.s. exchanges if they do not open their books to regulators. they're alleging these companies now including baidu are not complying being transparent or following audit disclosure rules. the, sec the companies do not open the last three years of documents to u.s. officials, they will be wipe off american stock exchanges. earlier this week, chair gary gensler made it clear the only deal the u.s. would accept is full compliance with audit inspections. with china and now the u.s. both bearing down, is the entire sector too dangerous right now for investors? let's bring in china beige book international ceo lee leland miller and author of "the great u.s./china tech war," gordon chang. leland, let's get to the news here. what do you think?

will these chinese companies comply or allow themselves to be kicked off the exchanges? >> i don't think most of them will be allowed to comply. there's a possibility that some of them do comply. most of them can't because the chinese government won't let them. is there a solution in the middle? possibly. that's where regulators could be headed. it would take most of the the capital nation off the market, but it would allow for a nice sounding political solution. so that could be where they're headed. by is and large, this isn't really a negotiation because the u.s. has laws and regulations, and it's up to china to adhere to them. you're not having a back and forth negotiation, you're having a constitution about whether china is going to comply, that's it. liz: i mean, hot stocks are now down 7% apiece today, baidu clearly getting hammered at the moment, down can as well about 6.5%. this was at the annual high, i

believe -- well, let's see, $228, it's at 134 now. what is going on here, gordon? the it's almost like the chinese government is eating its own young. wouldn't they want to see that these companies do well overseas and globally? well, there's a lot of people in the chinese officialdom, and some of them like xi jinping actually believe chinese companies should be listed only in china, and he's very concerned about information sovereignty, as he calls it. in other words, he doesn't want data being leaked to the outside. and that includes the financial disclosure that the united states requires of all companies. so you put all that together, it makes it very difficult. now, the thing that we can't gauge is that xi jinping himself is in trouble. there's intense pretty in-night -- political in-fighting. they'll be forced off the a exchanges, but we also know that there are other people in china at the top of the communist party who want these companies

to stay. we can't really gauge that horse race. liz: okay. leland, if you can't gauge the horse race, would you even dip a tiny toenail into these stocks that looks extraordinarily dangerous to some investors? >> well, i think some of these stocks, i think, are investable, but you're talking about a completely different game than you were a few years ago. it used to be set it and forget it. you looked at a chinese tech company, you'd invest in it, come back in three years, and you've doubled your investment. now the opposite may be true. the only real way to do it is to have a level of sophistication on the policy side and on the economic side, you know, understanding what's actually going on. that's the only way to really grab hold of this. and even ten this is a much riskier environment than before. so this is not for the faint of heart, probably not for most funds, but it is -- i wouldn't say it's not investable right now, it's just a more difficult environment. liz: well, and awfully treacherous, right, gordon?

especially when we saw what happened last year where the chinese government came out swinging against the online education sites saying you can't teach kids on the weekends, you can't tutor kids. it basically blew up their entire business model. what is xi's focus, and what's his end game here especially when his country is getting hit again by covid? >> well, his end game is to be named general party secretary for a precedent-breaking third term. everyone assumes the communist party will hold its conference in november, and we don't even know that. you know, liz, in general the chinese market, even if you sort of put to the side all that's occurred over the last 18 months, it's a market where it's traded on government rumor. so you actually have to be in china, you have to have your ear to the ground. you have to devote, basically, 100% of your time. and if you do that, you can maybe do well. but if you're in new york, san

francisco or anywhere else around the world, the problem is you are not up-to-date on what people are saying, what the government is doing. and that's what drives these markets. not the things that drive markets in our country. liz: well, something's driving our markets to session lows, dow jones industrials down 249 points. gordon, leland, good discussion, and we're watching the chinese stocks today down. who knows? we've seen this story turn around on a dime. while the u.s. cracks down on chinese companies, apple may be ramping up its reliance on the asian nation. really. well, you've got to find out what it plans to do to keep iphones rolling off the assembly line. that is next. closing bell, 37 minutes away. we do have the market taking a little bit of a leg down here, session lows. dow down 2525 a 5 -- 255. we're coming right back, watching it closely for you. ♪ ♪ so my best friend sophie says you've been a huge help.

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liz: breaking news, we are getting this now on the tape, the state department confirming moments ago that russian forces have detained some is u.s. citizens in ukraine. state department spokesperson ned price saying that the revelation at a briefing that's still going on is basically that there's been limited additional progress in rescuing the detained americans who are being held in russia now. so detained in ukraine, held in russia. as soon as we get more on this, we will let you know. we've got this fox business ace letter a rare downgrade for advanced micro devices, amd dinged by 7.7% at this hour after barclays cut its rating on the semiconductor company to equal weight from overweight but also slashed its price target to $115. we're at 110 and change right now. the bank says it sees headwinds as pc shipments wane and gaming chip demand increases due to the pandemic end ebb. the expected drop in chip demand

is not stopping apple which according to bloomberg is now exploring new suppliers for memory chips used in its iphones if including for the very first time a chinese supplier. the report says a key supplier of flash memory chips from apple in japan has production issues, so the iphone maker is now testing chips by china-based yang sue memory technologies. right now it's down just about three-quarters of a percent. dow component boots alliance losing ground even after it beat estimates for estimate results. it did keep its 2022 the earnings forecast unchanged as an omicron-led surge in covid testing showed since january leading to fears of lower than expected growth for the rest of the year. let's look at cannabis companies. you know, they're not doing much, in the, they're all falling by 4% apiece by this

hour even after a key house committee we talked about yesterday did formally clear the latest bill aimed at legalizing marijuana at the federal level. this should be good for the stocks. it is not at the moment. the marijuana opportunity reinvestment and expungement now heads to a floor vote. we'll see what happens there. but a previous version of the bill, yes, it cleared the house floor vote in september -- in december of 2020 but ended up stalling in the republican-controlled senate and went nowhere. we had til ray's see you on countdown just yesterday. he himself was skeptical about the bill's prospects. >> i think my over/under is, you know, i'm not totally sure if it will get through, but with it makes so much sense. liz: we'll know soon enough as the floor vote for the more act could happen as soon as tomorrow. vladimir putin demanding payment for oil and gas in

rubles as the war in ukraine reaches day 36. kind of a shameless attempt to prop up his currency, right in but one bank is just hours away from cutting off all its russian corporate customers. bnp paribas usa ceo here next on why that move and what happens next on how they're helping their existing clients hedge against the bad headlines. it's a fox business exclusive. closing bell, 29 minutes away. we do have stocks in the red at the moment, nasdaq down 94 points, just under two-thirds of a percent. we're coming right back. ♪ ♪

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♪ liz: all right, folks, and we're looking for a reason, but it could simply be thed headline we just brought you, and that is that the russians have have detowned some american citizens in ukraine and moved them to russia. that's when we have suddenly hit

session lows, dow can jones down 339, s&p down 39, the nasdaq down 118. right now on the a last day of march we've got another tightening of the financial noose if around russia's neck. it is just hours away. after today all french bank bnp paribas' ties with russia will be receivedded, completely cut off -- severed. not only halting new financing operations there, but will no longer process any banking transactions with russian corporate clients. in a fox business exclusive, we're joined by jean-yves fillion who is back is assisting clients in hedging against all the headlines. not the least of which, vladimir putin's attempts to prop up russia's opportunity -- currency. bnp is ending all banking transactions and relations with any corporate clients in russia. what message does the bank want

to send to russia and vladimir putin? >> well, you say it very well, liz. we, we're not conducting any transactions onwards in the russian federation. by the way, we had downsized our operations there in russia to which we had very de minimis exposure way back when before the conflict started. we discontinued our retail activities in 2012, we stopped our consumer activities in 2020. and in the meantime, we just -- comply totally with the sanctions policies around the world. liz: but aside from that, bnp did more than what the rival european banks in saying we're done with even our corporate clients. we're not going to conduct transactions with them starting in just a couple of hours. as you watch what's happening in ukraine, bnp also has, i believe, some operations in ukraine. do those continue or what's going on with the situation on the ground? >> you are very well informed.

similar to russia where we have de minimis exposure, we do in terms of balance sheet to to ukraine, but we have a bank there. and, by the way with, i want to commend the staff because under these circumstances, this bank has managed to continue to serve their individual and corporate clients. and i think they should be really commended for that. the bank is, obviously, very focused on providing support to our staff on the ground and using some of the locations we have nearby on the other side to have border. liz: but the entire region is in a state of trauma. you know, you have to believe that eastern european nations and the ones where all of the refugees are flooding in, this is affecting those economies. fitch ratings came out today, just a couple of hours ago, telling reuters this afternoon pretty much, get ready. the first sign of losses due to the ukraine war will be seen on balance sheets of first quarter earnings for european banks. what kind of effect do you

expect? >> well, the last few months have been a very confusing time, and markets and economy are trying to find their way. i see three patterns, obviously, the inflation that we're facing linked to the supply chain disruptions which is really causing a situation we haven't seen in 40 years, the second category is what we're discussing which is the outbreak of this conflict which, you know, with the sanctions is really leading into an energy crisis. which, by the way, impact europe probably first. and the third aspect in terms of confusing time is this potential wave of pandemic related shutdowns in asia as we've seen over the past two weeks. there's a lot to be watched here. having said that, this u.s. economy remains one of the most resilient economies in the world. it's energy self-sufficient, i mean, individual and corporate balance sheets are very strong.

consumer confidence is fading a bit, but it's really consumer spending continues to be strong and last and not least, we see velocity in equities and the debt markets here which is very, very active as well. liz: our viewers are like your clients. they want to be in the market, but they need to be protected and hedged. you talk about currency fluctuations, now vladimir putin says, oh, you have to pay for the energy that you buy from us in rubles which is, obviouslyily i dick louse -- obviously, ridiculous. the ruble has tried to come back, it's closer to where it was right when they launched the war, but how are you helping your clients hedge against all of these headlines which are very worrisome. >> over the last two weeks, i've had the privilege to be on the weeks to be with clients in different industries including the tech industry. definitely, you know, volatility

across rates, currencies as well, you know, is at the top of the executive's mind. but it's, you know, supply chain management, raising capital to fund working capital needs as well as just, you know, funding m and a and different kind of cap-ex program. my bankers are telling me they've never received that many calls to strategies mainly across rates and currencies. commodities is part of discussion but, candidly, prices are already too late. it's more like discussion and not really execution yet. liz: we've got to go, but the return to normalcy perhaps was best exhibited just a week ago in indian wells, california, when bnp paribas open, the tennis championship, happened finally because it had been shut down, it was the first major

sports event to be shut down when the lockdowns happened in 2020. we had an american win, taylor fritz, i believe, congratulations. but what does this tell you when you look at the audiences that came and the ticket buyers? what does it tell you about the normalcy in the reopening trade? >> it's very exciting. to give you a sense, we had almost 400,000 fans visiting over the last two weeks which is close to pre-covid metrics. we were able to host our clients in person, like i have the privilege to be with you today in person, in your studio -- liz: thank you. >> it's really a good step forward to reach out to normalcy, and i know you're a tennis fan as well, and it's one of the largest promoters of tennis in the world. we leverage tennis to go beyond the support itself very important causes like social equity, social mobility as well as contribution to the communities. liz: we're watching everything that happens, and bnp is very

much as sort of the linchpin area between europe, eastern europe and the u.s. thank you for joining us. >> it's been a pleasure to be here, liz. liz: jean-yves fillion. the chairman of the ceo blackrock, issuing a dire warning for investors. oh, i'm sticking around for that. charlie breaks it next. closing bell, 18 minutes away. don't move. ♪ ♪ we all need a rock we can rely on. to be strong. to overcome anything. ♪ ♪ to be... unstoppable. that's why the world's largest companies and over 30 million people rely on prudential's retirement and workplace benefits. who's your rock? new projects means new project managers.

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♪ liz: okay. new session low for the dow, a loss of about 369. we're slightly off it at the moment. new session low for the s&p is, down 43. again, keep in mind as well this is the end of the month, end of the quarter, probably window dressing.

but as we watch these numbers get a little bit worse and worse, it could get even ugh uglier if you listen to blackrock chairman and ceo larry fink's most recent comments suddenly gripping investors, and they're clutching their pearls, charlie. >> right. remember, he said much of this stuff involving inflation and the end of globalization in the interview we did two weeks ago. but now it's starting to get out there in a bigger way. he's given, he's making the point -- he made the point earlier in the week in his annual letter to shareholders again about this end of globalization and how that would impact inflation. his number two, the president of blackrock, has been recently on the sort of concert tour, so to speak, speaking tour, making some of the same points. rob was actually a little more nasty about it. he said like the younger generation today has no idea about the inflation threat that's coming their way x they better get used to it because they've been pamperedded so

long. so both of those put together, and i think that's having an impact on the market. of les no doubt blackrock is trending right now. again -- liz: where with, on twitter? >> yes. what's fascinating, it's all the stuff that he told us. so if you watched fox business, you could have is gotten ahead of this curve -- liz: takes a while to work through markets. >> twitter's like a weird thing. in any event, larry's been making point. and here's the thing, and i think this is kind of key, liz, you know, for our viewers the market's off 300 points today. as you said, could be a little window dressing -- liz: 1%. >> but markets have been down the last couple of days. i'm trying to get my notes up here, just give me one second, here we go -- oh, thank you. there's a banner on the screen, wonderful. [laughter] if let me see, i'm a little bit -- liz: you wrote it. >> investors now expect the fed to raise -- [laughter]

so if you believe larry, that globalization which led to lower inflation is over because we have to deal with the emerging threats of china and obviously russia, the fed is going to embark on significant rate hikes. and that's what i don't know if the market is appreciating. if you believe larry, we're talking at least 50 basis points in the next may meeting. the pce number, the personal consumption expenditure number, was down significantly today because of people getting hit with inflation -- liz: the fed's preferred inflation. >> they love that gauge, right? liz: they do. >> so most people are thinking it's 50 basis points and maybe more going forward. if you believe of that, the markets are going to -- liz: but powell will be right if he can get a soft land aring. the market is doing the fed's work for it. >> this is not really a soft landing. this is 300 points, barely a percent. i'm just saying that i think the market is not appreciating how

much inflation if is in this. and, by the way, why should you believe larry fink and blackrock? just so you know, one of the things, i know everybody's out there beating up on larry because of esg, it's his fault. it's not his fault. take what he's saying seriously because he's a bond expert. blackrock does all sorts of investinging, they do a ton of etfs, as you know, but both rob and larry are old-time bond traders. and i'm telling you, if anybody knows inflation in the bond market because, you know, bonds are this sort of indication of inflation. bond prices fall, yields rise. that's simplistic form, but people that study bonds intellectually and for money like blackrock, they know -- take them seriously on inflation threats because that's their bread and butter. i would be really careful about this market going forward. if they're banging the drum on this. we should also point out that

blackrock had some interesting ties to, i mean, blackrock does a lot of work for the fed. jerome powell -- when blackrock says something, jerome powell listens. they have people in the white house that used to work for blackrock. that is a big thing. if blackrock is saying worry about inflation, that means biden has to get on his horse and powell as well. liz: okay. you need to stop talking because we just hit a new session low, loss of 419 points, slightly off it right now, 397. >> i still think we're only down 400 points. by the way, have you seen amc lately? not doing great. liz: yeah. >> you got the gold mine. ♪ i got the shaft. liz: grab a pencil, everybody. today's $26 billion countdown closer has three picks with characteristics of stocks in your portfolio, absolutely must-have. you're going to hear that. we are 8 minutes away from the closing bell. yes, we're seeing a bit of a struggle here but, again --

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♪. liz: hey, we are four 1/2 minutes before the closing bell rings. i am looking right now at the session low which was a loss of 457. here we go. now down 461. again last day of the quarter, last day of the month. dow, s&p, nasdaq are all lower. it is the worst quarter for stocks since the start of the pandemic. so we're looking at about quarterly loss for the dow of 4 1/3%. s&p 4 and 2/3%. nasdaq getting hit the hardest, down about 8.8%. we do have a quick update on amazon. the amazon alabama warehouse vote, right now alabama voting stands against 800 votes against unionizing, 678 for unionizing,

but there are still hundreds of ballots to count. voting is going on at new york's staten island amazon warehouse where at last check labor was ahead. so at the moment the stock is not ahead. amazon is down 1.5%. if we get anymore updates in the last couple minutes of the show we will bring them to you. three problems, inflation, higher rates, war in europe. our "countdown" closer has three stock solutions for your portfolio. joining us with 26 billion of assets under management huntington asset management chad obiat. what are the boxes you must check before committing or putting a stock in your portfolio? >> great question, liz, thanks for having us on. what we're looking at in this environment, as you mention it has been a tough quarter for stock investors so what we're really looking at, companies one help participate in inflationary environment. we're covering that in the last segment. you mentioned it on the intro

here. inflation is definitely a concern. when you look at individual businesses you want to look at companies that can participate in an inflationary environment and usually that means being able to pass on some of those inflationary costs, the unput costs to their end user the client. so you want a business model able to maintain some of the margins and then for our portfolios here at huntington we've had a u.s.-centric bias this year and we continue to look at predominantly the large cap domestic names, particularly dividends. three things that companies participate in inflation, are able to push margins through to consumers or end-users and also those names that pay dividend. liz: okay, let's look at some of the dividends here when you talk about how they do you have got to give us a sense. so you like j&j and talk a little bit how people can get paid while they wait because j&j down 1.25% although year-to-date

very close to its high. >> yeah, so when we're looking at dividends you're exactly right, it kind of get paid while you wait idea, but really if you think about why our clients are investing, particularly investing for the longer term so they can maintain purchasing power. if we're in an inflationary environment the yields we're getting even though we've had significant moves in bond yields this quarter, it is still not enough to outpace that inflation rate. so owning equities, we like the dividends, it is get paid while you wait but it inflation participation as well. liz: we have 15 seconds here. why are we at lows of the session today? is it window-dressing or something more insidious? >> i think more likely the end of quarter so likely window-dressing. three things continue next quarter war in ukraine, inflation and central banks concerns. that is playing a little bit as well. liz: chad, thank you very much.

looks like the dow is closing down 505 points. we still have 20 seconds before the actual close. we may see the numbers settle even lower? closing bell rings] that will do it for "the claman countdown" on a day we see the end of the quarter an ugly one but the best month so far of 2022. "kudlow" is next. thank you so much for joining us. see you tomorrow. ♪. larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. of course the price of energy is too high, it is way too high, over $100 a barrel for oil, near five bucks a gallon for gasoline. it has been an important contributor, though by far not the only contributor to the 8% inflation rate the past year. a new study suggests that the inflation story has added 5200-dollar tax on typical american