1931. i know it is wrong. stuart: i go with 1889. 1908. a woman named anna jarvis held the first mother's day celebration in west virginia. it wasn't until 1914, president wilson designating sectioned of may, as not mothering sunday. dave asman in for neil cavuto. david: i'm david asman in for neil cavuto. we'll look at the latest from elon musk and twitter. why he second. out that cryptic tweet about

dying under unusual circumstance. brock pierce, we have former office of manage amend ant budget director russ vought, republican florida congressman michael waltz. he is here to talk about abortion, many other things. a busy two hours. we go to capitalist pig hedge fund manager jonathan hoenig on another market selloff. jonathan what is clear happening with markets that the fed failed last week to convince investors we avoid a recession. i think that is what is happening with the markets. what do you think? >> david that is exactly right. this is six weeks, week seven of really dramatic losses for the dow. as we say it's a bear market. almost no place to hide today. 1000 new lows, only 20 new highs when it comes to the market. 80% of stocks are trading below the 200-day moving average. the trend is certainly down. the only good news out of today's action, perhaps we're

starting to get to the place where markets are oversold. today there is no place to hide, oil, oj, coffee, coin, there is no place to go. we're seeing the good girls and the bad, are all getting taken to the woodshed today. david: are you surprised the jobs number it was pretty good jobs number, top line wage growth not meeting inflation and some other things, labor participation was not so good, it came down a little bit, overall the number was good. are you surprised that didn't have more of a positive effect on markets? >> david, it is great that the job numbers are good but those are backward numbers. the markets are the forward-looking indicators we have to keep an eye on. think about it, today's action, last week's action of the dow was based by the inversion of yield curve which always is a good harbinger of the economy. the markets are suggesting that recessionary indicators are like

toy to continue. david, you can't discount the impact of inflation massive savings destruction, even beyond what people are paying for goods and services. the savings are being destroyed by high interest rates. that is not stopping anytime soon. david: oil is down good. usually good for consumers. our buddy phil flynn said because of recession fears. there is demand destruction. people are not going out and driving as much. they're not taking planes as much as everybody thought they would be doing s that what is happening? is there demand destruction going on in the oil market? this is the up figure for the past few weeks but today it is down. go ahead. >> sure. exactly it. expectation of a slower economy, lower demand for all the commodities which, david, have been only place to hide this year have been the higher commodities on that inflation play. i think also looking big picture, are margin calls. people have been very leveraged. a lot of stocks taking it on the

chin now, apples, teslas, microsofts, they have been the leaders and now they're the laggards. i think there are a lot of margin calls, frankly forced selling going on when you see loss of five, 600 points on the dow. david: interest rates are down a tiny bit today. but they have been going up. the 10-year rate is over 3% now. i'm just wondering, mortgage rates are edging up towards that, towards that and above that 5% level. are we in for a housing crisis? >> well i think we're in for higher interest rates, david. the trend is, it is not always your friend or really our friend in this case but it tends to persist and the trend toward higher interest rates. we're going on 30 years of lower interest rates, but the move to higher interest rates -- david: how will it affect the housing market specifically? >> i think it's a major damper on the housing market without a question. housing is localized, it is location, location. that is an place where investors

can hide and save money. as interest rates go higher, housing is less and less attractive. inflation destroys all elements of the economy. no one is helped by it. thus far biden and democrats don't seem to do anything to try to remedy that economic -- david: i want to stay on housing because it is so important to many people around the country. we have a shortage of housing. we have an inventory shortage. that kept prices high. we also have the surplus of jobs. we have 11 1/2 million job positions open right now which is usual thinking of heading into recession. you're usually hit on the jobs front. so it's a very strange moment in our economy? >> yeah. i mean it is. what, my fear, david, that lower the stock market goes the demand for jobs will go down, the ability to hire people go down as especially regulation goes up. i'm not a kazan today. think about the housing market

2005 to 2009. think what happened with rates going up. what is the difference between 1 1/2% or 2 1/2%? if you're making $100 million, billion dollars investment a little bit on the interest rate makes a big deal. these shudders are filtering through the economy and they're not over yet. david: i'm getting a wrap from the producers, i have to ask, so much of this, obviously policies have been very destructive in many ways certainly on the energy front over the past year-and-a-half, but turning off the economy in 2020 and 2021, parts of 2021 as well, that's really, that threw such a wrench, monkey wrench into whole workings of the world economy, didn't it? >> that is a great lesson to learn from the pandemic. not that american innovators and scientists cannot remedy it, they can. when you forcibly shut down the economy you create havoc in the economy. we see that today. china continues to shut down

their economy. their economy hasn't recovered. the more we freeze the economy, americans are suffer. that is the takeaway. david: jonathan, good to see you. fuel prices hitting records again and long lines are forming at costco and sam's club gas stations because how much cheaper gas is there compared to nearby stations. madison alworth is at a costco gas station in new jersey. madison. reporter: hi, david. yeah, we've been seeing lines grow here at this costco. that is because you can save on average around 20 cents compared to your normal gas station down the street. for example, here in new jersey, the state average for gas, 4.47. here at this costco, 4.23. that is below the national average that sits today at 4.32. we're nearing a record high set back in march. it is sending people to hunt for good deals. it seems that high prices are here to stay. >> i think it is highly unlikely we're going to see gasoline

prices go below $4 a gallon unless the world, along with the u.s. goes into recession that the depresses demand significantly. reporter: while of course we don't want that the other side is that lipow does expect gas prices to hit $5 a gallon national average. you know, about that happens, that will really impact what americans do, how they spend their money, how often they travel. i spoke to one shopper here. it would mean only make necessary trips. take a listen. >> then i probably wouldn't go really anywhere, just like food shopping back home and to work, that's it. i wouldn't do anything else. reporter: all right. that was a little fuzzy. pretty much all he was saying was go to food shopping, and to work. nowhere else. gas at five dollars a year ago would have been impossible to imagine. that is where we stand today. lipow is expecting this week we

will see another five to 10 cents added on to the already high 4.32. david? david: made me rethink a couple long trips i was thinking of taking when i add up the cost of gas. thank you very much, madison. appreciate it. energy stocks taking a beating as we mention. the blame game higher prices for gas continues. democrats are looking to introduce legislation that would expand the federal trade commission authority to investigate plies gouging. we have can scenario ceo, dan ebb erhardt. dan, good to see you again. we've had these investigations before. have they ever turned up evidence of price gouging? >> they have never turned up evidence. this is kind of a show trial. the ftc has the ability to investigate if they think there is price gouging market manipulation or anything else. this is show trial. democrats look in the mirror. we have a supply problem. that is why prices are too high.

if they care lowering price of gas increase supply. i was talk towing president trump last week. he agreed to me. this was completely avoidable. david: the bottom line when we were energy independent because of the policies of the trump administration we had a lot more flexibility to ourselves. the united states is a country to set prices. now we're dependent on opec again. we're going "back to the future." back to the days of the '70s, they could turn off the switch and cripple our economy. >> yeah, no, it is amazing. we produce 13.2 million barrels a day before the pandemic. now with higher oil price and better economy under the biden administration we're producing 11.6 million barrels a day. that is because of the chilling effect of policies reducing supply. that is why prices are high. calling the oil ceos in front of congress like a month ago trying to get this ftc to investigate, these things are fingerpointing. this is not solving the problem which is a supply problem.

we didn't have this problem under president trump. we had energy independence. we were exporting oil and gas and democrats really ruined all of this. they're looking around trying to figure out where to blame. we need more supply and need policies out of d.c. to support that. david: you know what is particularly rich when a congresswoman from california, katie porter, released a quote, consumer price gouging prevention act. now a california representative where diesel is selling over $6 a gallon because of the policies that katie porter and other democrats in california have imposed on the citizens there. she's now calling out price gouging. i find more price gouging coming from the hands of congresspeople inside the beltway than i do from gas companies. >> yeah, look, oil and gas prices are set by world market, set by supply and set by demand. what the politicians need to do.

it isn't really complicated. we don't want lower demand. that is when we're seeing today. oil is going down because of recession fears. with what we need is more supply. in the industry they need to talk to us, administration needs to come to us like they did under president trump, not fingerpointing about price gouging with the ftc, calling oil and gas ceos in for congress to point fingers at them. the biden administration should have had them to the white house, hey nice, we want more supplies to lower the price, how can i help? that is not what happened. called them before congress to.fingers. all about blaming people. not solving the problem. that is not what i don't understand. david: a lot of people don't understand. doesn't make a lot of sense. a california congresswoman talking about lowering gas prices when the prices are astronomical. thank you. elon musk at it once again, his latest tweet setting the internet on fire. we'll show you right after a

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♪. david: well elon musk sending the twitterverse in a tizzy again, this time with a cryptic tweets about the workload for twitter staffers in a very mysterious circumstances surrounding the billionaire's potential demise. kelly o'grady joins us now. what is going on, kelly? reporter: hey, good to see you, david. never a dull moment with elon. many current employees are expressing frugs strays at the takeover but those outside may be lining up to get in. the days following announcement, daily clicks on job posts rose 263% according to grass door data. he will look to double down on software engineering, security and design. after slashing headcount twitter woe hire in those areas and reach over 11,000 employees by 2025. that is up from 7500 today. elon shared a warning with current and potential staff, quote, work expectation was be extreme but much less than i demand of myself.

that is because musk will need to make good on promise of equity investors. the platform raked in 5.1 billion last year, he is forecasting to quintuple revenue to 26.4 billion by 2028. that is a huge jump. the billionaire is known for missing his targets. one piece of good news, experts suggest that the fcc investigation will lead to nothing. >> the fcc has absolutely no authority to stop this transaction. doj, ftc is called to take a look at it. i'm not expert in their legal authorities but i would be surprised if they have any legitimate authority to block this transaction. reporter: amid all the opposition now you can add the russians. the kremlin threatening to hold the billionaire accountable for providing starlink satellites to military. musk tweeting, if i die under mysterious circumstance, nice knowing you. never a dowel moment especially on mother's day, elon musk. david: thank you, kelly, very much. sewers san, that is really the

message that got everybody stirring. if i die under mysterious circumstances it's been nice knowing you, suggesting because of the work of starlink until a you looing communication from ukraine to continue to get out some putin hit squad might be out to get hymn? reporter: that's right. so, you know, looks like elon musk is picking sides when it comes to this ukraine russia debate and this battle and invasion of course. it was mother's day yesterday and musk actually tweeted in reaction to the elon musk tweet saying that's not funny. then elon musk says, okay, i will try to stay alive. happy mother's day. is that so elon musk's style. david: really is. reporter: one thing i want to get back to that leak to twitter investor presentation that "the new york times" got ahold of, only elon musk can sell hopes and dreams because if you think about it, tesla is worth a trillion dollars in valuation. tesla only produces a million

cars a year. so someone can get i guess wall street to look on the future side of potential earnings, potential quadrupling of users, it is elon musk. david: keeping on transportation. you have news from uber, right? >> yeah. so we do, yes. this is really emblematic of this new paradigm that we're living in, especially in the stock market. so a seismic shift according to uber's ceo in this leaked memo. what does that mean? they need to preserve cash. they will cut back when it coombs to spending, marketing incentives for drivers and riders and it also looks like what they're doing they're trying to get to profitability, not just say on an adjusted tax basis but they want to get to profitability when it comes to free cash flow. hiring privileged according to uber's ceo in this memo. it is revaluation taking place

across silicon valley, whether publicly-traded companies like uber or private markets. as you know a lot of vc funds are scaling back on the investment and valuation they put on these unprofitable technology companies, david. david: not only unprofitable, they had a 6 billion-dollar loss. used to be that would be absorbed by all the willing investors out there in silicon valley. are they gone for good or just taking a breather? grow at all costs. cv funds and the stock market would give you benefit of the doubt as long as you're growing you eventually make money on the users and interest. there is rethink especially with interest rates going up sharply over the near term and next few years that cash is not free. you have to prove that you're worth the money to invest and reinvest in the company especially at high burn rates which a start of startups have

been at. david: a lot of people were asking why wasn't nasdaq was getting hit harder than the dow with interest rates going up. you just explained that. on the right-hand side of your screen, dow is down 389 points, nasdaq is down twice that percentagewise. reporter: down 25% from its recent peak. more than a bear market right there. david: remember 1999. we had the dot-com crash. then we came roaring back. so it could happen once again. susan, thank you very much. good stuff, appreciate it. coming up russian president vladmir putin defending his invasion of ukraine during a massive military parade celebrating victory today on a day without any discernible victories in his war in ukraine. we'll break it all down for you when we come back in a moment. ♪.

♪. david: a show of force in moscow as russia celebrates the soviet union's victory over the nazis in world war ii with their annual victory parade. fox news national security correspondent jennifer griffin with how the pentagon is keeping a close eye on vladmir putin's actions here, particularly within the rhetoric we hear in this parade. what's the latest, jennifer? reporter: hi, david. well it was not a mission accomplished speech. he did not use it to declare all-out war in ukraine as some had suspected or to call up more conscripts. instead of a subdued alternate reality presented by vladmir putin suggesting the war will grind on. >> translator: you are fighting for the homeland, for its future, so that no one forgets the lessons of world war ii, so there is no place in the world for executioners, punishers and nazis. reporter: though despite the

clear skies there was no air component to the parade. the russian state television said the russian warplanes did not participate due to bad weather. more likely it's because most are bogged down in ukraine, some even shot down. of note, there was no sign of the top commander of the russian forces, general gasarmov who was reportedly targeted, possibly injured visiting the front line of ukraine last week. while the russian t-90 battle tanks rolled across red square the ukrainian armed forces marked victory today by releasing drone footage of the third generation of russian t-90 tanks they have destroyed own the battlefield with anti-tank missiles with m laws provided by the uk and u.s. and eithers. first lady of the united states jill biden spent mother's day in ukraine on a secret visit to meet with president zelenskyy's

wife to show solidarity with the ukrainian people. how 11,000 cheering russians filled the square, evidence of putin's control of the propaganda narrative inside of russia remains attack despite new reports 1.2 million ukrainians were deported in russia, in what they're called infiltration camps or concentration camps. that is how putin decide to the mark victory day the end of world war ii against the nazis. david: unbelievable. a contrary universe he lives in. jennifer, thank you very much. 1000 miles east of moscow shanghai is tighten the lockdown to hit the zero covid goal. grady trimble with video, new details on how china's trade is hitting the supply chains. grady? reporter: those lockdowns are spreading to other cities. some cases they're being extended.

people are growing more and more frustrated by them but the chinese government is not backing down on the zero covid policy. yes, that could cause problems for you and me in the form of supply chain strains which could go worse. strict rules in shanghai will reportedly last this month you about they have been pushed back multiple times already. people are forced testing and forced at times to stay in their homes. some people test negative for covid are required to quarantine. there are worries that people do not have access to food and other essentials. the lockdowns as i said are spreading to dozens of other major cities even many with covid deaths in the single digits. in beijing, gyms are closed. dining at restaurants is not allowed. public transit has been reduced by about 15%. to keep factories open workers in china are being forced to essentially live at them. tensions boiled over at this plant that assembles products for apple. this video appears to show

employees, you see them there, breaking through isolation barriers and clashing with guards. so how will all of this impact you and me? well exports from china, they're slowing. a recent study by analysts at the royal bank of canada found total number of ships waiting to birth at the port of shanghai stands at 344. that is up 34% from just a month ago. that same report says that shipping goods from a warehouse in china to the united states right now is taking about 74 days more than it normally would. david? david: grady, thank you very much. now with more on both russia and china is claudia rosett, former moscow bureau chief for the "wall street journal" and former editorial editor of the asian "wall street journal." claudia, we always get two for one with you on these subjects. it is perfect. let's start with china, their zero policy but first on putin. he had his big war celebration today.

he didn't mention nuclear weapons. we didn't see the flyovers of the military. it almost makes me feel more self-assured when he talks about nuclear than when he doesn't. i wonder if he has something up his sleeve now? >> very possibly. he is brassing out his problems in ukraine, defaulted straight to the usual world war ii victory and i have a accusing ukraine of being nazis, so they're fighting world war ii 77 years ago again but i wouldn't be surprised but i would look among other things with his partnership with china which does continue. david: is he, is there a possibility, we heard a couple weeks ago, it was the rage to talk about putin using tactical nukes somehow in ukraine, is that still on the table? is that still a concern that we have, or perhaps has he been hurt so severely and his generals hurt in ukraine, that he is at least putting that aside for the moment? >> it is still a concern but i

think, to evaluate that, is he serious about it, look at the kremlin, which he refurbished since he took power in 2000, which is really nice. he has built an enormous military cathedral on the outskirts of moscow. these are things i don't think he wants to see obliterated f he believes we would retaliate in some terrible way he probably isn't serious. if he doesn't believe that, then we are in trouble. david: palace intrigue, let's talk about what is happening inside of the kremlin. is it conceivable a group of people inside of the kremlin could be capable of getting rid of him? >> it is conceivable but i wouldn't bank on it at all. his thing is security. david: he is a former kgb guy. by the way had a purge of the fsb, the new kgb. is that just the beginning of a number of purges to make sure that there's no palace intrigue? >> oh, i think, that is very

likely. again i don't have inside information. if you look what he just did with the victory day parade, i don't think he necessarily expects all russians to believe what he is saying but he is instructing them in what they must pretend they believe or else they will face terrible penalties. they could end up in prison. they could end up poisoned to death. they could be shot on their doorsteps. that's russia. he takes great measures. is it likely some cabal in there that sees he needs to go? very probably there are people who think he needs to go but getting rid of him is very hard. david: 1989 is an interesting year. the berlin wall came down. that was the beginning of the end of the soviet empire. it was also the year the russians left afghanistan, another foreign misadventure caused them to lose thousands of soldiers but they have already lost more now in this short war with ukraine than they did in all the years they were fighting in afghanistan.

i'm just wondering, could we, like we saw in '89, see the beginning of the demise of this empire, of putin's empire? >> i would like to think that, david. i'm not confident and one of the reasons i'm not confident that is how it will go this time there is a very powerful china differences, and i think putin's endgame involves the moment xi xinping will turn on him, i think china would love to have the russian far east i think it's a different balance in the world right now and china is a very large threat and growing and we're not doing enough to stop it. david: well it is not growing as fast as it was. >> no. david: they're having serious growth problems right now. 1989, go back to 1989. that was also the year of tianamen. there was a popular uprising against the communist government. you were actually there in tianamen square when that happened. >> yeah. david: these zero covid policies

and the pictures that you're seeing, the video of people committing suicide because they're locked in their homes, fighting, literally fighting back, it does, it does bring to mind what happened during the tianamen. that didn't end well for the protesters. >> we all think of the lone man standing in front of the tank. that incredible icon. that is unusual that they didn't mow him down. they actually killed people until the protest stopped, and that changed the course of china. today, they have enormous surveilance. you're right. people have been howling from the windows of shanghai, let us out. they're terribly frustrated. they're not fools and they hate this but xi xinping has immense powers to isolate them as we're seeing, to repress them. you haven't seen an uprising that has overthrown the horrors going on in shanghai. i think one of the big differences in 1989 we had a

period of strong u.s. leadership. right now we don't unfortunately. we have very weak. we have appeasement. we have afghanistan. we have the refusal to use u.s. energy resources as they could be. we have over and over the idea, we will not pursue anti-satellite missiles because we're hoping to lead by example? china and russia will not follow that example. they will continue to work on them. and that is one of the big differences, you have a strong leader for freedom in the world. it can really matter. it is what we desperately lack right now. david: by the way, the stats up about covid, the chinese statistics on covid deaths, et cetera, that is us why bs. that is complete bs. they obviously have had more than 14,000 deaths as the world has had 6 million. this is a country of 1 1/2 billion. so i mean, we don't buy any of that. do the chinese people buy into any of that? >> probably not. again in both russia and china

the propaganda narrative, some people believe it but the real purpose is to tell people what they must pretend to believe if they are going to keep themselves safe from their own government. that's the purpose of that. yeah, china has, i wouldn't trust a single statistic out of there, especially about coronavirus. it is just, they lie. david: and the people, again, we're always going to have evil empires out there. now it happens to be russia and china. it has been russia and china for generations now. is it possible, a lot of people are hoping though, that the information revolution we've had over the past couple of decades will prevent these dictators from shutting off all the information. as information gets out about the dead soldiers in ukraine, about the actual statistics of covid in china, won't that at least tap away some of the, some of the, some of the barriers that these communist governments have put up around them?

>> it will help, but david, this is coming down to guns. it is what it came down to in ukraine. people are dying from guns. that's the big thing. china is arming itself with missiles, hypersonic missiles to defeat our air defenses. russia has been developing them as well and the information is very important. i love the power of the pen, so do but this also comes down to america needs a stronger military, not one based on ecological fuels, but able to fight and win a war. that might have deterred this war in ukraine if we had actually, we're building up our navy in particular even though that is not directly involved in ukraine, but a message to putin, to xi xinping. vital thing is build up our military. this is coming down to guns. david: by the way, president biden's 10-year projection in his, budget they came out with shows a decrease of over 20% in our defenseal locations. a decrease of 20%, not an

increase at all. >> that is disasterous. the biggest danger we face is not from the climate which is always changing. it is from the real rise of a real life, think of it as a conglomerate of evil. david: claudia, thank you very much, appreciate it. let's check in on the markets. it is a big down day, not only on the dow but look at the bottom of your screen. nasdaq is down over 3 1/2%. huge tech selloff. we'll stay wit. stay with us. we'll be right back after a quick break. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this.

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well the white house is strongly condemning that arson in madison, wisconsin. it happened over the weekend, while another protest is now expected later this evening outside justice alito's house in maryland. the president himself has not yet made remarks about the madison, wisconsin, arson but a white house official tells us that he does strongly condemn this attack and really any political violence of any stripe. now someone through a molotov cocktail into the office of an anti-abortion group called wisconsin family action. the building was also spray painted with these words, if abortions aren't safe then you aren't either. well the president of that group wrote on facebook, apparently the tolerance that the left demands is truly a one-way street. violence has become their answer to everything. now this morning, white house press secretary jen saki tweeted this. potus strongly believes in the constitutional right to protest but that should never include

violence, threats or vandalism. judges perform an incredibly important function in our society and they must be able to do their jobs without concern for their personal safety. other dems on the hill are also speaking out as well. >> no one should be threatening violence against supreme court justice or against any member ever congress. i will be honest, i have had plenty of protests right around the corner from my house over the course of my time in public service but, you know, any threats of violence are beyond the pale. reporter: more protests are expected later this week including again one outside of justice alito's house in maryland. it is planned by a group called shut down d.c. protests happening outside homes of justices catholic churches. protests so far have remained peaceful. by the way, david, there is a bipartisan bill in congress gaining a lot of steam, favored

by democrats and republicans alike, that would provide round-the-clock security, personal private security for those scotus justices, supreme court justices and their families. it is getting a lot of steam. could see a vote possibly today although some sources are now telling us there are a few kinks they will work out. may not happen today. david: asia, i -- ashiah, i think you can hear me despite the lawn mower behind you. >> it is spring. david: even peaceful protests outside homes of justices and judges are illegal if it is meant to influence opinions. has anyone mentioned that that even peaceful demonstrations outside houses of justices are illegal? reporter: they have not mentioned that. you're right, there are states

where some justices live or reside, even picketing outside of a residence is considered a misdemeanor. so you're absolutely right. but nothing from the white house on that just yet. david: no. it is a federal statute. ashiah, thank you so much. meanwhile the baby formula shortage is showing no end in sight. some parents are beginning to get a little frantic. lydia hu joins us with the very latest on this. lydia. reporter: hi, there, david. parent concerns are growing as major retailers like cvs, walgreens, confirming limiting customer purchases of baby formula to three products per transaction. now the supply shortage of baby formula started during the pandemic with supply chain issues but it has gotten worse since abbott nutrition issued a voluntary recall back in february after four babies fell sick and were hospitalized. another two died after consuming the formula, possibly in connection.

most recent data shows that the national stock average for baby formula, out of stock average for baby formula jumped to 40% but, david, just three weeks ago, only seven states showed baby formula was 40 to 50% out of stock. now that has risen to 26 states. some states are hit harder than others like iowa, south dakota, north dakota, missouri, texas, tennessee. >> when you look at the alternative, they are dangerous. someone rationing their formula, when a baby is unable to receive the nutritional needs at hand, or even worse, make homemade formula, then find themselves with safety concerns. it is unacceptable. reporter: now, david, the infant nutrition council of america is saying in a statement, quote, formula companies are committed to insuring continued

availability of infant formulas for every babe, but so far, david, it does not appear supplies are increasing. it is not bringing any relief to parents in desperate need. david: a terrible situation. lydia hu, thank you very much. appreciate it. reporter: thank you. david: bitcoin is down below 51% from its peak. how low can it go? bitcoin information council head brock pierce has all the details. you will want to hear what he says coming next. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis.

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♪. david: bitcoin getting hammered today, hits the lowest level since july 2021 and following a trend that began with last week's market selloff. our next guest says this is likely the end in only one of two-ways. joining us now, bitcoin foundation chairman, brock pierce. brock, you see a crucible coming, either make-or-break for these cryptos, right? >> well i think the technology is going to continue to exist and i think it is going to change the world. that is my perspective. now the question is it bitcoin like you had friendster, myspace, instagram, tiktok, will bitcoin be the winner? will it be ethereum or something

else? i think it's a by nary outcome. bitcoin is going to million plus or likely going to zero but all things eventually go to zero like all of us die. david: you bet on ethereum, if i'm not mistaken, right? you think that is the one that is going to survive? >> oh, no, i'm chairman of the bitcoin foundation. bitcoin is clearly in the leading position and will likely stay in that leading position. what ethereum is added additional functionality, with smart contracts, decentralized applications. though they're going through their crucible moment as they attempt to upgrade to ethereum 2.0 built on proof of stake. we will see that soon and if they succeed in doing that, they're well-positioned to continue to be in the place that they are in and even a better place than they currently are, or we'll find one of the other layer one block chains taking their place. which i'm also -- david: we have only 30 seconds,

but i remember the dot-com era very well, when we saw all the valuations drop through the ground but we saw tech come back. could it be the same because as you mentioned the blockchain technology is such a breakthrough technology? >> yeah. any we're exactly where the tech industry was in 1999, 2000. many of these projects will go to zero but many will become the ebays, amazons, that paypals of our time and future but with probably even greater success. david: brock pierce, great to see you, brock. thank you so much for being here. wild times for cryptos. i appreciate it. coming up new questions bp who is going to pay the cost of cancel ising student debt. more "cavuto: coast to coast" right after a short break. ♪ you know liberty mutual customizes your car insurance, so you only pay for what you need? like how i customized this scarf?

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♪ ♪. neil: here we go again the stocks probably need another tech lead selloff, the bottom right hand of your screen, the nasdaq is down almost three to half% today alone extending last week's losses, the ten year treasury yield is edging a little bit down but it briefly top 3.2 percent, we will dig into these markets later this

hour, taxed to the max, janet yellen pushing congress to agree to a global tax deal. when this european bureaucrat start designing our tax code former white house omb director is here to break that down coming up. our top story inflation surpassing historically strong wage gains with the most recent data showing 5.5% pay raises, sounds good but compare that to a.5% price hikes because of inflation. edward lawrence is at the white house with how the biden administration is responding to all of this is been a u.s. chamber of commerce's and businesses are just beginning to feel the wage price cycle, they say they're struggling to find workers so they have to pay those workers that they do find more and they might have to raise prices to a feel the pressure because they have to pay the workers more.

the latest jobs report, wages increased 5.5% over the past 12 months. the cpi inflation said that they .5%. workers are losing money to get another cpi reading on wednesday. the bank of england and the economic forecast says they will face double-digit inflation and prolonged stagnation, even recession. it was a most gloomy business outlook for any major central bank this year so far, the federal reserve acting chairman jay powell says he sees a soft landing but it will not be easy but powell would not say the r word recession. the president feels more government spending will help lower cost in some areas and ease pain for some americans ahead of the committee for responsible federal budget, government spending got us into this mess. >> think about how we got to this point, a huge input component of this was the american rescue plan which is much larger than it should've been at this time.

there was a lot that we did for covid that was the right and important thing but the last package was too big premature, much larger than the economy needed and despite warnings at the time we went ahead and did that so that contributed to inflation. >> she asked the president and congress need to be on the same page with no more borrowing, the president 30 minutes is going to announce more spending, he wants to lower internet cost for 48 million americans across the country tomorrow will be the bigger economic speech where he talks about inflation and how he's going to deal with inflation he's making that address again. neil: he's made it several times, good point, thank you very much. the white house is playing the inflation blame game saying the railroad industry is partly responsible for derailing a post-pandemic economic recovery, jeff flock is live in philadelphia with reaction. >> derailing i see what you did.

i am at the yard in philadelphia here, jen psaki the soon-to-be former press secretary, the railroads not enough competition out there, that is leading to inflation. that sounds like a familiar line, maybe it is because it is. listen. >> volatility in the oil market is no excuse for excessive price increases, private padding or any effort to exploit american consumers, if we look back at the facts of what was happening at the time and we talked about our concerns about me conglomerates jacking up the prices. >> that's the meatpackers in the oil and gas industries in the crosshairs. the fact is despite the suggestion that this had a chilling effect on shipments and the lack of competition in the rails, last year record rail

shipments, take a look at the numbers 26 million railcars up between five and 6%, the u.s. is already the king of the rails. i did not realize it was this dramatic but the u.s. by far more attractive railroads, they are very efficient when it comes to moving freight, 250,000 kilometers of rail that is 150,000 miles, a lot more than china and russia and india in all of those countries, the rails are controlled by the government. here it is private industry talk about competition here in pennsylvania alone 61 separate freight rail companies that is more than any other state in the union texas and illinois behind that. the notion of blaming industry for inflation is a bit misplaced. >> it is clearly absurd in their attempt to deflect blame from the trachea and others buddy

valastro the fed had more to do with it than anything else. >> i will point out the railroads had a really good year last or. they made about $6 billion, union pacific also six and a half billion with record earnings for them. i think you know the old line success has many fathers a failure is an orphan, in this case inflation has many fathers, the problem is it's like jerry springer show, none of the fathers wants to admit to being the father. neil: what an analogy only from jeff flock, great to see and cog student loan debt. particularly middle tax class payers many don't have college degrees or they paid off their kids college degrees they are now asking to foot the bill for

everybody else. hillary vaughn and capitol hill with the potential impact on americans student loan forgiveness, what are the details. >> some democrats are insisting that canceling some or all of student college student loan debt would ultimately cost nothing and all it would take is a stroke of the president's pin. >> he has the authority to do it i would support a more limited forgiveness of debt, i wanted a few numbers of the sit and transcendent that has that and i don't need a forgiven. >> lawmakers are long about those things, the committee for federal budget says even small scale and targeted student loan debt cancellation would cost taxpayers $230 billion, 70% of that money would go to people who really do not need it, the group also says doing so would make inflation worse and make college more expensive in the long run.

>> i think it's a crazy idea and way too much money to say were gonna put more money into the economy with out-of-control inflation with people that worked hard to pay for the loans are good to be punished because the other folks to get everybody. >> the white house is grappling with the decision because they admit they don't even know if it's legal and looking to outside legal experts to give them guidance and elite legal memo of the education department that is leading student loan cancellation by executive order may not be legal. the executive branch likely does not have the unilateral authority to engage en masse student debt cancellation. legal or not, free or not, progressives are pushing for the president to go ahead and do this before the midterm election but the other point that should be noted a lot of the people that successfully paid off their student loans, they could ultimately be paying student loan debt twice because they're

gonna be. the brunt of this if it's going to come out of taxpayer pockets as well. neil: the middle class. that went up to liz warren when she was suggesting this and said i paid off my kids debt i worked three jobs in order to do that, do i get a refund down. a lot of people making questions about this, thank you very much, the wall street journal editorial board writing spare america from janet yellen's global tax, janet yellen still claims that letting europeans help decide how to reconstruct our tax code will help straighten things out, former white house would be director russ vote joins me now. great to see you, did i miss the part of the constitution that talks about foreign bureaucrats replacing u.s. taxpayers in designing our tax code. i must have nixed that part. >> we both did, it's because it

is not there. unfortunately this administration wants to export the lawmaking functions of the united states constitution to foreign bureaucrats to make sure that we have the rising escalator of revenue of tax increases instead of having america the attack saving for the world that attracts businesses and entrepreneurs and make system people want to come here to start and have their businesses. this is going the wrong direction, this is the a pygmy of the america economic policy that we see from this administration. neil: i have an idea, why do we design a tax code that draws businesses to the united states. wait a minute, you guys did that with the trump administration video. >> we had a tax policy that was designed to get companies to repatriate their earnings here to bring manufacturing back to this country. we had business investments

going aggressively, the economy was going well. it was a great economic situation that we largely walked away from in this country because of this administration economic agenda. neil: wait a minute, the president just said last week, those policies that you were just lauding actually cost us $2 trillion to which you say. they were paying for themselves. economic growth from the entirety of the president's economic agenda and we saw that from the economic analysis that we were doing from the congressional budget office. change was the pandemic and the kind of spending that this administration through on top of the federal government. once we were largely out of the pandemic and the economic shock that's what caused inflation with the last $2 trillion the divided administration insisted that the congress do. neil: we heard a lot of talk about paying your fair share and

a lot of people aren't paying their fair share, it turns out the president released his 2021 tax forms that his family paid 24.6% of their income and federal taxes. i pay 37%, i would much rather pay his fair share then their fair share. period they are such hypocrites, their advising something that they do not deal with at all, they are not paying their fair share, why should anybody else. >> it's a great point and everyone thinks that someone else is tax more than they should be but they never say that about themselves. those of us on the conservative side who are raising taxes are always cognizant of the fact that people want to be freer, they want to have opportunity and make their own decisions, this is not about something gets back on something. get a spend money on housing,

i'm get a spend it for my own housing or through a nonprofit to be able to ensure my community has housing. i do not want the department of housing and urban development to the big spending woke be a rat during the housing spending on behalf of someone else with my money, that is how we look at it, that is not the way they look at it. they want to raise taxes across the country speak what i would say it's fair to say that we should bring down the top rate, he is in the top income level, bring it down to what he paid, 24.6%, now 37%. that's what i paid and a lot of other people. bring it down to 24.6%, isn't that fair. >> it is fair and you can get our numinous contact, let's get it done right now. neil: if the two of us could do a you numinous contact, that would be it but unfortunately there's more to it. thank you for being here. appreciate it. latino voters shifted away from the democrat party ahead of the

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>> i feel like that's an oxymoron but black republican. >> then i don't understand latino republican. >> that was the view cohost joining me now initiative president he says blacks and latinos live with this ignorant projection every day. you just have to look at the polls, another not the final answer but bottom line there's a poll showing about only 23% of latino voters are for biden. i think it's 23% and we have the mpr pool show we latino voters 52% go for the gop and 39% go for democrats. this woman is saying 60% of

latinos are ignorant because they're going for republicans. how can you say that and gain any credibility. >> this is the last powerbrokers that are desperate to recover latino by imposing the same tired group narratives 160 million latinos who by the way 60 million individuals who have their own dreams and sense of identity and vision for america, there has always been a core group of latino republicans that believe in limited government like pro-life in school choice. what is different, you emphasize into the polling and there is a huge swing of those of the middle that is swing into the gop. neil: particularly now you look at the bottom right, three to half% right now. these are people who are industrious or entrepreneurial

the coming for the american dream whether recent immigrants or long-ago immigrants from their generation. these are people who understand that they are here for the markets, not for the government. >> the spirit of ronald reagan latinos didn't leave the party the party left them. democrat to focus on the true price of washington to all americans. i am not simpleminded like most americans predict most americans are paying $5200 more per household because of inflation in their paying $1500 more because the progressive policies and $400 more in groceries because the progressive policies then change the party. if the party in power is not what to change their way as the previous segment was pointed out. when you tack on the urban crime and the impunity of the border in the war on energy adjusters to pileup in the created a huge

chasm between themselves and the latino community. >> the border in particular, their policies specifically meant to encourage latinos to come and vote for them and that's having the opposite effect isn't it? >> it is i was talking to a nephew of mine who is a border agent i live on the border and you said the worst thing that i see is the impunity of human smugglers. is there something more than 45 folks in the car we drop them off at the local gas station and that's all there is to it has to be ten or more before we begin to charge anybody in there some kind of consequence that is turning off latinos like you cannot believe. >> you mentioned social issues, i would imagine abortion is among those, while democrats might feel that they can get support from latinos on that issue, they are dead wrong on that. >> there is an extreme to the abortion issue where there is full term abortion most leaders

in the democrat party would actually allow for that, latinos are nowhere near that, the random party also seem to be more about judging people for what they think and what they say that about the real thing. and to defend the free market and preserve free speech, these are the kind of issues that latinos care about. i would say also the left is prioritizing education systems over children and the broken promises on immigration is not working out. >> wonderful points, great to see you, thank you very much for being here, i appreciate it, the stock selloff is deepening were breaking down the market moves coming up next. stay with us. ♪

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neil: stocks falling out another tech lead selloff, look at the nasdaq down about 3.5%, extending last week's losses, lauren simonetti is here with the moving markets. >> last year we had one day we remove more than two at half percent. we are at number eight this year, it is so volatile. the five-week selloff has dragged into week number six, the biggest culprit in my opinion is the fed who might have to act more aggressively to contain inflation. we get numbers on wednesday the cpi for april is expected to start, that is what they're battling 8.1% inflation. ahead of that the ten year treasury yield climbed to three and a half year high, down a little bit from that but well above 3% with that you have tech

stocks falling like apple and amazon. steep losses and somehow they say they will keep dropping the tech sector until all that the pandemic games are wiped out that could mean down another 25%. now for twitter if you ask yvonne musk he expects the revenue to grow five times if his private deal goes through but that stock is down another 2.5%. the market losses are being led by energy, wti -- that is not wti, trading sharply lower by 4% on the continued lockdowns in china. china is a top importer and their struggling right now so they won't use as much oil. among the biggest losers on the s&p 500 today. the dow is bowing did you see bo shares. eight and a quarter percent, the

getting delayed, the fea not certifying them as quickly. neil: i have my gold. >> i'm sorry that is down today. where is the safe haven gold is down $25 because the dollar is up spiking to a 20 year high. at one point i would make the argument that crypto currency could be a safe haven or inflation completely not the case and lets indentures of rivian, so is ford, the news is yesterday ford can get out of the rivian steak so that's what they started to do they sold a chunk of the 8 million shares, ford is going to refocus its own resources on its own electric vehicles at this time but the down 7%. is are they throwing the baby out with the bathwater right now, that is the question the selloff is steep and broad-based.

>> you are asking about the s&p it was close to the 3000 handle, came down to 4003 at one point the dow jones is doing better people are going through the blue-ribbon. >> the blue-chip names but industrial and tech in the dow jones industrial getting it the most today. neil: thank you, bring the good news next time. thank you, we are watching the big board with the dow down but it's doing better than the other index, former investment banker and small business author carol roth joined me now, lori did i think that the fed is the culprit, the fact is investors do not believe what powell the head of the fed is saying he could cut inflation without causing recession, what do you

think. >> what a mess we have the market and my allergies are in a mess today. >> i think you're right the reality of the market and the economy side is entirely driven by policy, fed policy, government policy and unfortunately this was all largely avoidable but here we are, what were seeing now is a clearing out of the access risk that the fed is put into the market. obviously they are supremely behind the curve, we're seeing something that we really haven't seen at the school before, 50 basis point hikes, we also see a rapid deleveraging of the balance sheet, runoff of their balance sheet at the same time. they clear out the risk and it is taking everything down with it. >> the only good thing about the horrible policy decisions that a

been made over the past year end a half, we can definitively say they do not work. it's absolutely clear now. >> we can be dragging the mmt people figuratively and putting them on a pedestal and pointing and laughing. unfortunately we're just not doing them i have not seen people growing around the blame and saying we were clear this does not work and we need to render the other direction. it's clear we have all the information that we need now, they will find a way to say that wasn't really what we met. it's going to be different next time. >> for those that don't know modern monetary theory you can. as many dollars as you want and nothing will ever happen we have about 2000 years of experience showing inflation is exactly what happens when you do that. i want to as quickly we had a

negative growth, i hate that phrase is a oxymoron, we had adopted the gdp in the first quarter. we have it in the second quarter that is one definition of recession. we still have the 11 million unfilled jobs, i do not remember recession we had somebody jobs available, do you? >> this is a really difficult part, i think the gdp standpoint, the comps are very difficult with the decrease in government spending without the stimulus and the consumer under weaker balance sheet position at the same time fewer people who are participating in the labor force and almost at this point to jobs open for every job seeker. it is possible with people's 401ks going down and feeling the pain that we plus the inflation that will take the early retirees and get them back off the sideline. what i'm really concerned is the mismatch and skills. we have the tech companies and

were starting to see some layoffs and those may not be the types of jobs that are available. we may still see people getting canned but not been able to find jobs even though we have all the jobs opening and i think it is historical unprecedented macroenvironment. >> if we do have a recession, those businesses offering those jobs while existing teamwork, the jobs will disappear relatively quickly. great to see you, thank you very much, see you on twitter. covid relief loan fraud costing taxpayers billions. how the justice department is cracking down, that is coming up next. ♪ for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset...

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neil: as we draw closer corporate ceos may be shifting their focus to profit over politics. charlie gasparino joined me now that's what they were in business to do sometimes this way the ceos position of policy because every investment standard environmental social government were not an investor money in your company whereby your stock, she directs rainsy and get rid of your carbon footprint. here's how we know it's under pressure just not politically washington from the republicans if they get the house and senate there will be hearing it inherently inflationary dan loeb one of the best investors came out with the quarterly letter and here's what he said about

yesterday. well-intentioned but disastrous. very mainstream investor who is the beginning and people are starting to call for changes. >> that would mean corporations would have to change the structure which is empowered to have -- the. >> the investment parameters invested in exxon or invested this one, you will not mandate exxon that they have to reduce their carbon footprint. esg initiatives are inherently inflationary. people are waking up to the asset managers, their highly powerful, blackrock has $9 trillion it is not just being dark, it's all about, they forced the behavior of

corporations because corporations are afraid they will not attract investors. were waking up to the fact the esg. his inflationary, if you're telling exxon not to drill a lot guess what they will not drill a lot if you say we are not when you invest in your company they will not drill as much. that's good to go one it may work when there's a non- inflationary environment. guess what's happening in inflationary environment, things go nuts and that's what the reason the market is selling off i will say blackrock he is a we said let's get a transition to esg let's not go overnight, the problem many, many consultants are working with pension funds and other funds that are saying we want to stand overnight and it causes massive changes in corporate america. now there's a backlash, andy puzder a friend of ours, let me get the name of the sea as a

fund that is anti-woke i found really interesting second woke advisors do the opposite of the stuff i shouldn't say that they don't use the esg filters. >> they focus on profit which is the fiduciary responsibility. >> the chairman of that fund and kevin hassett the former trump economist is much more about profit, they will investigate manufacture. great story i turned around and say why is tesla and esg darling. electric batteries, don't you have to burn coal to get electricity where are you going to put the batteries when they're done with don't they have lithium and all this bad stuff you don't want to put in the ground. >> today have an answer for that? >> no i'm not surprised phil flynn who follows the energy

business says a lot of oil companies would love to be drilling more right now but they can't because they cannot get the money from a lot of the woke banks that have these policies. it's affecting our overall energy prices. >> if you're the average investor, you should know a lot of your investments particularly half of the managed funds that don't have an active manager has a huge esg filter. even actively managed, that could be changing and if you really wanted to change complain to your broker complained to the fund. that will work. >> we are still in control for the moment, good to see you. massive fraud found in the paycheck protection program. federal investigators them estimate $100 billion in covid financial relief wound up in the wrong hands, david spunt is live at the justice department with the very latest. >> it is jarring to hear these numbers, two and a half years into this pandemic a little over

two years finally it is starting to become clear how big the fraud operation is. i'll give you a clue it is massive. investigators with several oversight committees in washington estimate 100 billion in covid loan funding earmarked to help small business owners make payroll stolen by the fraudsters, since a small business administration in the famous patent protection program ppp exactly a year ago last may the fbi has invested hundreds of people, let's give you an example richard and his wife adopted fake identities, they secured $18 million in ppp loans according to authorities there alleged abuse those loans to purchase gold coins, luxury watches in multiple homes, richard was sentenced up to 17 years while his wife was sentenced to six, both awaiting extradition fox news said that when michael horowitz the chair of the pandemic accountability

committee and inspector general at the department of justice. >> is people made a conscious decision were getting get the money out and if there's fraud you'll chase it later. that is not an acceptable motto we believe transparency is the best disinfectant announced anor sentencing one person sentenced in florida for covid relief fraud ten years in jail, they're not messing around. neil: they should not mess around, the supreme court. what it means for the most powerful institutions in washington. that is next. passion for learnig through our grow up great initiative. and now, we're providing billions of dollars for affordable home lending programs... as part of 88 billion to support underserved communities...

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>> overturning roe v. wade does not mean overturning abortion across america as many people seem to believe. it means people get to vote on the issue which is how it should be. >> that was crisco leah the son of antonine's scalia weigh-in and on the supreme court draft this is in the latest of a string of leaks, congressional correspondent chad pergram is live on capitol hill with a closer look at what's going on.

>> here's a look at the history of news leaks in washington envelopes tester for the transit messages encrypted in a parking garage and bernstein style, news leaks are part of the bloodstream in washington everything from the tapes of house majority leader kevin mccarthy to intelligence of the war in ukraine. intelligence leaks about russia bothered cia director williams burns since the u.s. appeared to boast about the leaks. >> interested they just call when people talk too much, whether it's leaking and private and talkative public about specific intelligence issues. >> gop texas editor ted cruz clerked for william rehnquist, yes theories about the supreme court leak. >> it is almost certainly one of the 36 law clerks and i think it's a most certainly one of the 12 law clerks that are clerking

for the three liberal justices. that is a small suspect pool. beyond that you and i both know a lot of supreme court clerks. many of them are book smart, very few are streetsmart. information is power in washington. a strategically can impact the debate and policy. >> it's like oxygen to have sources on the inside to tell him what's going on. i think it's really a matter of how business gets done in washington. the leaks are very important part of it. >> leaks form a relationship in washington between reporters and policymakers but leaks are as old as the republic ranging from the pentagon about vietnam to the initial roe v. wade decision in 1973 which was leaked. >> chad pergram, thank you very much. the white house continues to voice support for illegal

protest outside of the homes of supreme court justices, several whom have been moved in the white house encouraging obstruction of justice. i'm joined by florida congressman michael waltz, great to see you, thank you for being here it sounds hyperbole to say that but in fact there is a u.s. code 18 section 1507 that vanzetti protest outside of a judges home with the intent of influencing his or her decision. it is a legal code that makes this protest even if the nonviolent and part of a justice home he illegal but the white house seems to be encouraging it. >> it is illegal and someone needs to inform the white house. i suppose especially president biden's jen psaki, this kind of messaging coming from the white

house is incredibly dangerous it green lights the activity that has been happening for quite some time outside of mitch mcconnell some, it is been happening in front of some lawmakers it's also a felony to lay a hand on any type of elected official or a judge but look we all remember what happened to representative get prudes who is literally shot at a rally. this could get out of hand very quickly. i would like to see some responsible messaging from this white house to say knock the stuff off. >> it's really gotten out of hand, as bad as the violence, that is absolutely unacceptable. so are the protest in front of a judges home was making did attempt to adjudicate facing the court, that already has

out-of-control its obstruction of justice but apparently obstruction of justice is in a crime in the minds of the administration if it's on their side. >> i think you're hitting on even though this was not classified material per se and therefore not necessarily in my understanding illegal elitist, it is illegal to obstruct justice, that is what this should be investigated under the statutes in terms of getting to the bottom of who did it and sending it very clear message that the institution of the supreme court cannot and will not operate this way. >> you continue to hear from democrats saying what the supreme court is about to decide is in fact that the preliminary report that we saw that is antidemocratic. as we heard justice scalia's son just mention. the fact that you're taking it out of the hands of the courts and putting in the hands of the people they can vote on it is in

voting on it by the public more democratic than letting judges decide? >> that's right were continued to remind people we don't have a natural abortion law either for or against. congress has never acted on it that's what the supreme court overstepped its balance in 1973 in dover road the elected action by the state legislatures. i think you will see a huge push from the democrats to do just that. at the end of the day they will have to kill the filibuster entered on the institutions of the senate in order to do it. let's hope both senators manchin and sinema stand strong because when we flip all the democrats talking about tearing down the filibuster going to wish they hadn't speed. >> is a strange split among the public about 63% in overwhelming majority say there will be wade should stand as it is. then what do you ask whether abortion should be illegal or

illegal is very close to a split decision, 52% say legal and 47% say it should be illegal, how do you think this is going to turn out, only 15 seconds. >> at the end of the day most people are against it you're taking the life of an unborn child but a lot of people want to reserve the right for women to do that. what this is going to boil down to, when does life begin its change since the 70s in most days are being pain laws we have to protect those children when you become a child you have to have a debate. >> they convey much for being here. back to the selloff shares of amazon, alphabet, apple, meta all to the downside the real selloff on nasdaq as well. more to come. that covers everything that's important to you.

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