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stuart: this is a new one on me. i know zz top but not sharp dressed man. the producers are trying to do this to me. maybe say i am sharp dressed. 10:00 eastern. straight to the money on the day after fed they. the dow was down 240 points, the nasdaq down 55, s&p down 23. look at the regional banks. some of them are sharply lower especially pat west which is down 41%. the question is, will the authorities be able to get a handle on these banks when there's a run on the stock. at the market the market is selling up because of jitters about a continuing banking problem. the tenure treasury yield is down to 3.36%. that is extraordinary. that is not a flight to safety.

that's a huge drop in long-term rates, bitcoin is a $28,700 a coin as we speak. a coin as we speak. that's the markets. now this. what started in 1985, san francisco became a city of refuge, city officials were not allowed to help the feds enforce immigration laws. and planning which, if illegals made it to san francisco they were in and stayed. there are now one hundred 80 sanctuary cities, 11 sanctuary states. i wonder if they would have made themselves into sanctuaries if they had known the open board was coming, probably because democrats want to encourage hispanic immigration, bringing as many as possible, sanctuary made sure they stayed. they thought they locked in a group of democrat voters. the chickens are coming home to roost and democrat run cities are paying a heavy price.

new york spending $5 million a day feeding and housing illegals in hundred hotels. san francisco overrun with fentanyl which comes across the southern border. fox report illegals camping out in the lobby of two chicago precincts. where did he cities and states stop and drop their sanctuary status. don't hold your breath. democrat mayors and governors don't criticize a democrat president. the mayor of new york blames the republican governor of texas to for sending migrants to black run cities, someone must have told him don't blame biden, might not get a bailout. next week title 42 ends. there will be another migrant surge, talking 10,000 a day or more. they are in. they are coming to the one hundred 80 sanctuary cities and 11 sanctuary states almost all of them run by democrats,

second hour of varney just getting started. ♪ >> you know this person, you know her very well indeed, she's sitting next to me, kaylee machen any. kayleigh mcenany. how is she going to handle questions? been title for 2 is listed, how does she handle this? >> he has one option and that option is delusion. we saw that with the border security, if you have two is and years and listen to fox news you know it is not true. her saying illegal immigration is down 90%. i don't like calling things lies, i like giving people the benefit of the doubt but there's no other word for that than live when you look at the fact that immigration is at historic highs, is up by 136,000 in fiscal year 23 time, over 22.

it is untruthful which is why she couldn't answer peter doocy when he pressed her for answers and she called it dramatics. stuart: i feel bad for her because i think she is in a job where she's got to defend the president and that defense is difficult. she's out of her depth and i feel bad for her. how do you feel? >> it is a hard job. you get information coming in, sometimes conflicting information it up to you to discern the difference. an example is the document scandal with president biden, she said the search is over because that is information she had been given the turned out not to be true because they found more documents. i feel bad for her. you are only as good as the information you're given which is why you have to call department heads yourself, do the homework which is what i endeavored to do. we won president biden just released his second campaign add that focuses on his

economic agenda. role that tape please. >> over 12 million jobs have been created and joe biden is building an economy that leaves no city, no town, no american behind. stuart: no one left behind. >> it's not going to work. the new york times talked about manufacturing going down, problems in the manufacturing industry. number 2, the jobs coming back and we had a nationwide shutdown, jobs the comeback were already there but we were coming out of covid shutdown. the american people, polling says they think the economy is getting better by 18%. my fears this. they always say the old adage, it's the economy, stupid but it wasn't in the midterms because her publicans did not do well. it has to be bigger than the economy, we need a positive message. blue when i know you have a new book out and i will read the title, the title is serenity in the storm:living through chaos by leaning on christ.

i think fox is the only network which encourages overt christianity. >> without a doubt. i love being here because i can openly talk about my faith. i have a platform to do it. i worked at cnn at donley got to say 5 words on panel, no real opportunity to plug my faith. stuart: today? quiet? >> they didn't say don't talk about your faith but by virtue of being screamed over by 7 people, 8 people you didn't have much opportunity but that is what our country needs, young people who are depressed, lost, considering suicide this is what we need, turn away from self and look at the creator of self and that solves a lot of problems we have. we were living through chaos by leaning on christ, thank you for joining us. we will watch on outnumbered. the show is really called outnumbered on fox news at 12:00 noon today and we will be watching.

back to the markets. david bahnson joins us. what your judgment of the fed performance, raising rates and maybe no more? >> i'm happy to talk about the fed but i love that last segment, i will talk about faith anytime you want. stuart: fox is the only place -- >> i agree entirely and my defense of markets is rooted in my faith. i believe god made us all with dignity in his image and the free market gives us a chance to be our best god created selves in a world of freedom and opportunity. the fed, speaking of freedom and opportunities doing a lot to hurt those things. that's not a theological argument becca economically the fed's distortions, their interventions have heard economic growth. i'm not fed critic who says they are doing it on purpose or

have bad motives but they are operating off of a flawed model it is doing damage. we when is it doing damage to the market? >> it is doing damage to the market but hasn't done that much damage to the stock market. most of the pain was deserved in the markets, that is where things were overvalued. this high-tech and crypto and silly bubble things but right now with regional banks, small banks this is a byproduct of fed policy. stuart: now we have regional banks under pressure again today, bad sign for the overall market. >> a bad sign for the overall banking market at how much of it trickles into the broader economy, we have to wait and see and i wouldn't give a firm prediction because these things have a funny way of stopping when they stop. i don't know. with the but of the but the fact that it didn't stop with first republic, it looks like

it is going to keep on going. stuart: we always come to you and you've got one, that is simon -- i bought into that some time ago, when it was 6% or 7%, what is the yield now? >> 6.9, the factory model is rents are higher right now than they were earlier this week. they grown 3. one%, basically 95% occupancy, there have been some assets where jpmorgan needs to be repurposed and they are building thousands of hotel rooms and apartments. they just have great real estate assets generating a ton of cash flow with $9 billion of liquidity. it's a stable company with a 7% dividend yield. we won simon property group yields 6. 9%. i will take it. thank you very much for being here and we will see you again

soon. tiktok launching a new ad product for publishers. ashley is with us, how's this going to work? ashley: good morning. it will make it possible for publishers to sell ads alongside their posts. it's called post premier and allows creators to collect half the revenue from video ads that appeared just after their tiktok host, the new product only available to the top 4% of its creators posts and also comes as tiktok is pushing back against allegations of the company's ties to the chinese government which has been talked about a lot but advertisers have flocked to tiktok because of its appeal to young users, the apps downloaded more than 4 billion times around the world i was the most downloaded apps last year, 150 million americans are now on tiktok, not quite 50% but it is getting there. stuart: here's another one for

you. npr accusing elon musk of threatening them. over what? ashley: twitter owner elon musk directly emailed him and threatened to give the outlet's handle an account username to another account if it remained inactive on the platform. the latest confrontation since npr declared it was quitting twitter after the social media platform officially designated it as state affiliated media. npr didn't like that, musk sent another email saying it is twitter's policy to recycle handles that aren't dormant. meantime reports claim there are one thousand full time employees at twitter meaning the company's workforce is down by 90% from just before musk

took over earlier this year. stuart: could be making some more money. thank you. vice president harris will meet later this one with four big tech ceos to discuss artificial intelligence. harris failed on on the borders what makes a qualified to tackle ai? . coming up. whistleblower claims the fbi has a secret document that shows then vice president biden was involved in a pay to play scheme with a foreign national. topper public and dark using the fbi of sitting on that report. we have that story. russia trying to retaliate for what it says was an assassination attempt on putin despite ukrainian president zelenskyy denying any involvement. dan hoffman believes it was a false flag operation by russia. these next. ♪

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and see how golo can change your life. that's g-o-l-o.com. stuart: on the markets this morning there was some reaction to the continuing slide of regional bank stocks, the dow is down 3 and hundred, the nasdaq down 73, russia claims it foiled ukraine's as assassination attempt on president putin. come en in. is this about the reported drone attack on the kremlin. ashley: yes it is but there are a lot of questions being asked about it. russia says it is an unsuccessful assassination attempt against president putin also promising retaliation for what it termed a terrorist act but the ukrainian president denies it all. >> we don't attack putin or

moscow. we fight on our territory, defending our real interests. ashley: putin wasn't in the, not the time. there's there is no independent verification of this claimed attack in the biden administration says it is not going to speculate. listen to this. >> we are aware of the reports but are unable to confirm the authenticity of them at this time so i don't want to get into speculation about what happened but we are indeed aware of the reports. since the beginning of this conflict the united states is not encouraging, or enabling ukraine to strike beyond its borders. we been clear about that. ashley: the kremlin says russian's forces stopped the drones before they could strike and no one was hurt but questions being asked why took

the kremlin hours to report the incident and why videos of it surfaced much later in the day. false flag? we don't know. stuart: we will discuss it. dan hoffman is with me, dan hoffman, former cia guy. do you think it was ukraine behind this attack or russia? >> i think all signs point to this being a false flag operation. you and i -- blue and what does that mean? false flag, who did it? >> the russians, i think, did it. all signs point to that but we won't see the forensics to do the forensics on that drone ourselves. i think the russians, i was mentioning how he piloted his own aircraft in 1987, landed in red square, this is that. the russians exercise control of their airspace.

they forced down a us drone over the black sea. they have considerable air defense and what vladimir putin was doing, surprising as it might be to us, the risk of making russia appear weak, they couldn't control airspace over the kremlin of all places, vladimir putin wants -- did this on purpose as a pretext, first for heightened security in russia, second, to launch air attacks of his own which he's doing with impunity against ukraine but most importantly, the edge, he's hearing ukraine is going to be successful in their counteroffensive. i've been tracking russian media, the russians want to portray the attacks, they're going to suffer a lot of losses and want to portray those losses as a result of russia fighting not ukraine but the nato alliance. we want the ukrainians are said to be about to launch their spring offensive. do you have any news on that, how strong are they, what are they looking to do? when does it start?

>> reporter: the timing is unknown. nothing gives ukraine strength like knowing how russia has targeted there maternity wards, hospitals, civilians, neighborhoods, for the past 15 months and even secretary blinken emphasized that ukraine has the potential to take back significant territory in this counteroffensive. i think the next couple months will be very determinative in this war and that has black reboot and worried, that he took this extreme act of desperation, concocting a, kazi drone of the criminal. we one could ukraine win? by that i mean push russians out of the territory they have occupied? could ukraine win if they got the right weapons? >> they are getting a lot of the right weapons. the biden administered just announced $300 million worth of

aid which is going to high marks and howitzers. evicting russia from the territory russia took in the past 14 or 15 months is possible but ukraine wants rush out of the don bas and crimea. that would require a longer time period but you have to ask at what point does the russian army fade away, decide they don't want to take orders from the kremlin anymore, the kgb guy, vladimir putin is sending them to their deaths. morale is low, leadership has been bad for russia. at some point maybe their army is unable to carry on the fight. stuart: that is a fascinating scenario. you've got to come back at some point and sketch that one out because that is intriguing. see you again soon. senate democrats want to address competition with china. come back in and telling what they are doing. we 5 senate democratic leader

chuck schumer and democrat committee leaders are looking to introduce legislation to limit the flow technology to china, deter china from taiwan and titan the us capital from going to chinese companies. a tall order. president biden signed a law last year that provided $170 billion over five years to boost us scientific research to compete with china. $52 billion in new subsidies for semiconductor and manufacturing and research. biden administration also at the same time trying to temporarily remove tariffs on smaller materials imported from southeast asia saying the exception is necessary to keep up the supply of solar materials needed by utilities. the house and senate voted to block the move saying it harms us manufacturers while benefiting chinese competitors

who use southeast countries to funnel their product. stuart: new data shows test scores among eighth grade students have hit a new record low. book banning and censorship, ben domenech reacts to that. is on the show. the ftc says meta failed to protect the privacy of children on facebook. they are trying to make money from young users. gerri willis has that report next. ♪ ♪

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stuart: this is why the market is selling off. problem with the banks, western alliance became the latest bank to explore potential sale, they hired advisers to export the options. metropolitan bank down 24%. look at those percentage declines. that is what has upset the overall market. watch it go down. the federal trade commission says meta failed to protect the privacy of children in the ftc wants to stop meta from making

money from young users. how are they going to do that? >> reporter: they will prevent facebook from making any money at all for those 18 and under. making that happen could be difficult but we know the work heating up from meta regulators as the ftc says the company violated its 2,020 privacy order and prohibits facebook from monetizing data from young users. commissioners say facebook repeated privacy promises. the commission is proposing changes that would prohibit facebook's parent from profiting for data it collects from users under 18 including those from virtual reality. calling the move a political stunt facebook spokesperson telling fox business despite 3 years of continual engagement with the ftc around our agreement they provided no opportunity to discuss this

unprecedented theory, we will fight this action and expect to prevail. former ftc commissioner saying the regulator has overstepped her bounds. >> everyone is questioning lena con's authority, everyone is questioning her judgment and this seems more like an attempt to terrorize business into capitulation and protect consumers. >> the third time they've taken action against facebook, the 2020 privacy order. a $5000 penalty, it is hard to feel sorry for mark like aburg, he was overstepping. to negotiate with us. stuart: they are going after him because it is facebook and zuckerberg and they want to go after him. test scores among eighth grade students at record lows.

is this math. >> we are talking about us history and civics. since the pandemic, only 13% of eighth graders are considered proficient in us history meaning 87%, federal test results reveal the largest drop in math scores ever and a nationwide dropping reading that wiped out 3 decades of gains. the us history score showed the lowest proportion, out of any subject, with civics being the second lowest. they dampened morale and also left a short of instructors. and a big decline, the drop in test scores across the board.

very worrying. stuart: education secretary miguel cardona blames book banning and censorship for those plunging test scores. ben domenech is here, what do you think is going south in our schools? >> things have been going badly for some time in a number of subject areas but there is no question this is the consequence the level of school closures we saw unique in the western modern world that affected so many students across the country. closures were conducted at the behest of the most powerful lobbying arm of the democratic coalition in teachers unions who time and again put their own claims of safety, funding, essentially engaged in holding kids ransom in order to pool more support from the system for a lot of things including a

lot of money to this day remains unspent. what they needed to reopen. this can't be laid at the feet of books. it's not fair to call them banned books. this is about which books are in libraries. the material in those school libraries is too explicit for the children. it is deemed to have material that too adult for young kids is in no way a ban. china bans books, america does not ban books in this way. it has always been a misnomer and is shoddy in the news and accepted by a lot of people in the media. stuart: there's another angle on teaching civics in history. why do we in america always insist on portraying america as a bad place? why do we do that? >> it is about something more than politics of right versus left. it is about an overall agenda

pushed through higher ed, used to instruct a lot of teachers that depicts a false representational revisionist history of america and seeks to put it in the harshest possible light. when you have the effect of the 1619 project do you want to engage in the victimhood narrative that promulgated the educational discussion? it is out of step with what most americans believe about their children. stuart: another one for you. a headline from the spectator which is a british magazine. i think it is anyway. president biden is a bad feminist because he won't recognize his seventh grandchild. women are a key constituency for the democrats. is biden losing them? >> i am editor at large at the spectator. we have a british american component.

the truth is this is one more example of the false profamily narrative on president biden's part is used time and again, he depicts himself as a family patriarch, a lot of adversity in his life, certainly that is sad but this is a situation the media goes along with this narrative about the way they treated so many people in their lives including the failure to acknowledge this grandchild who is a victim in this scenario. completely unacceptable way. not the way any grandparent should treat a grandchild. we when i did not know you had such a high connection with the spectator. i didn't know that. you still come on this program and you' re the editor, you are incredible.

come back soon, ben domenech. another subject of great importance to me, eli lilly says their experimental our farmers drug - although i was drug slowed to cognitive decline by 1/3. the ceo of google says artificial intelligence is a few years from having human level cognitive abilities. it will be a game changer in the medical world. kelly o'grady has that story coming up next. ♪ ♪ ♪

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400 points, nasdaq down 86. the problem is more difficulties for regional banks, some are down 40%, a run on the share price is spilling over into the overall stock market. in one hour vice president harris meets the ceos from four major ai companies. do we know what is on the docket for this meeting. >> reporter: the focus is very much on the safe and ethical use of ai. kamala harris will meet with four ceos from leading companies including microsoft, google, open ai. they share this context saying we must place people and communities at the center by support in response. novation that serves the public good. company several responsibly to make sure products are safe before they are deployed or made public. they are racing to one up each other and they question how

substantive this meeting will be. >> it seems to me nothing more than a pr stunt. everyone's eyes are on this issue. seems the emerging policy frontier, this is a high-stakes issue to be rolling the dice on a pr effort. there's a ton of things to consider when it comes to not only electoral consequences but daily news coverage. >> reporter: the white house announced one hundred $4 million in funding to launch seven national ai institutes and publicly assessing existing ai systems. this comes as daily warnings are racking up from the dangers of ai, and just a few years from human level cognitive ability, i'm sharing a wild example, researchers are developing ai program that translates brain waves into text, incredible potential for those with obvious dangers. that's when example of the backdrop for today's meeting on

the question of whether washington has the experience to regulate this. stuart: that is a very real question. a subject close to my heart. eli lilly says their experiment all genres but at all times drug slowed cognitive decline. thinking skills declined 30% less than those taking the drug. doctor marty makary joins us. a lot of questions. this is a real breakthrough? >> it is a breakthrough but benefit was modest, the trial that lily did, half of the patients on this drug had slowing of their alzheimer's compared to 29% in the control group that did not have the drug, they had slowing. 20% of the overall group had some benefit. we call it significant but that means statistically there was a real difference. doesn't mean there was a major benefit.

stuart: please don't disappoint me on this. how does it work? >> the amount of plaques, other drugs from biogen, it was approved by the fda for alzheimer's, it had sort of marginal benefit. it is not fda approved but the thought is in combination with other drugs there could be a bigger benefit. what's the side effect? brain swelling has been described with these drugs. stuart: it is -- you take it. if it is fully approved at some point you take it when you first see signs of cognitive decline. >> it addresses the symptoms once they set in.

a lot of work in prevention, causes of alzheimer's postulated. an interesting area relates to food and lifestyle. stuart: they had been a straight's covid vaccine mandates end next week. >> it is as if 8 more days to snuff out covid, the biden administration has a doctrine that is in and out -- and unvaccinated person should not be able to travel into the united states, or work as a teacher or a federal contractor, that the biden's position to this day. stuart: do you think our handling of the covid emergency, 21/2 years ago, did we do the right thing. stuart: we responded as best we could, studies were not clear on many topics, public health

officials dismissed them and dug into their positions. that is where many americans feel violated. they were not being told the truth. of the one thank you very much for being with us. the you again soon. the fda just approved its first vaccine against rsv. back in again. will anybody go for this vaccine? no one gets vaccinated these days, do they? ashley: they don't. it's like the flu shot. deepening on your age some people may. enough vaccine available for the upcoming fall or winter season when respiratory infections are at their highest. the vaccine has been developed by glaxosmithkline, for adults age 60 and older, pfizer and modernity valving similar vaccines, the cdc needs to weigh in with specific

recommendations, and children and older adults overwhelm hospitals across the country. rsvp kill 60,000 seniors each year and as many as 5 and children under the age of 5. whether people will take it it is up to them and their doctor but it will be available later this year. stuart: the navy has hired a drag queen for new recruits. retired navy seal commander dave sears will tell us what he thinks of that. dave's years joins us in our next our. democrat lawmakers backtracking on a bill that would criminalize homeless in camas. furious residents say the law would allow people living in those camps to terrorize their communities. all about the reversal. ♪ should i stay or should i go ♪ should i stay or should i go

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stuart: check the regional banks, the big problem for the stock market. pack west down 50%, horizon down 56%, western alliance down

38%. that is a drag on the market. bottom right-hand corner dow is down 340. look at apple, they report after the bell this afternoon, they are down in advance of those numbers. that's not helping the overall market. the numbers come out after 4:15 or 4:30. democrat lawmakers in oregon want to decriminalize homeless encampments. that would allow homeless people to sue the city if told to leave. drug counselor in portland joins me now. are they going to reverse this mindless proposal? >> representative fahey from oregon took it off the table, this really is a distraction and isn't going to go anywhere or solve this crisis. stuart: what did people in oregon think of this?

you can camp anywhere and sue the city if you are asked to leave. what do people think of this lunacy? >> a lot of pushback. despite being a progressive city a lot of people thought it was backwards thinking, wasn't going to solve the problem and make everything to in times - 10 times harder. we, lies to drugs and that hasn't helped anything. to decriminalize homelessness, there's going to be no motivation for these individuals to leave the streets. the city has given me a free pass to do so, to stay here. stuart: i want to move the subject to this because you are a drug counselor. are you a drug addict? >> i'm not. i just studied it, i grew up around it and was inspired to go to school. stuart: i ask because -- >> doing homeless outreach.

stuart: the number of fentanyl overdoses dress -- death has tripled. they want the city to revoke the sanctuary protections for dealing with deadly drugs. should be rollback sanctuary status in american cities? there are 180 sanctuary cities. roll it back? >> of course. the decriminalization of drugs has been killing people left and right, one of the worst things i have ever seen. in oregon we have to measure one hundred 10 which equalized drug use and triple overdoses and deaths. every homeless person says 3 times a day, this is a tragedy and we need to rethink this because fentanyl, no one expected it, this is the deadliest thing i've seen in my career. it is not marijuana. 50 times stronger than heroin and cheaper and it is replacing

the drugs. it is deadly. we need to start reading it. stuart: well said. thank you for joining us. come back soon please. so i had, indiana senator mike brown on manchin and sinema realigning with republicans on debt. retired navy seal commander navy -- the drag queen digital ambassador. a whistleblower claims there's a document detailing a criminal scheme involving then vice president biden. republican lawmakers demanding the fbi turn that information over. that is "my take" next. ♪ ♪ i will keep you my dirty little secret ♪ dirty little secret ♪ ♪ ♪

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>> biden administration is not only ignoring americans, they're also ignoring partners that could help solve the problem. nine out of ten people do not qualify for asylum, so instead of busing them all over the country, bus them back to their country of origins. >> -- freedom and opportunity, it's doing a lot to hurt those things. the fed's interventions have hurt or economic growth. they're operatin