we discussed with alicia levine.ew york, this is bloomberg. ♪ emma: this is "bloomberg daybreak." i am emma chandra. that the has learned japanese carmaker wants to limit the power of nissan to nominate directors to its board. meanwhile, mitsubishi has joined nissan in dismissing the chairman. a strategic review is at an businessge -- to a involved in industrial robots. facebook haves at put immense pressure on sheryl sandberg. bloomberg spoke to eight current and former employees from her side of the organization. some now blame her for facebook's woes. they say, at times, she prioritized her own brand over facebook's. alix: thank you. so what is right, the market or fundamentals? socgen's ceo for that. >> it is fair to say there are more risks potential, geopolitical risks on one hand, and we have seen a correction of the markets recently. the question is the magnitude, at the end of the day, the correction and whether it could derail what remains, fundamentally, good economic conditions. when you speak with ceos,

we still have alicia levine with us and luke sticking with us as well.t to talk about the conditions overall. the monetary conditions, because they are tightening -- i do not want to say they are tight, because historically they are not, but they are tightening and they will get tighter as the year goes on. alicia: we are seeing the effects of that in the emerging markets. you are saying that when the corporates and countries barred at a low rate, countries kept coming back for more. and as rates are going up, that is no longer sustainable. so we're going to have tightening in europe, we have tightening here, and it will be a problem for the global economy. caroline: fantastic. something to be thinking about. talking about the emerging markets, they have stumbled and it is so much related to the u.s. dollar strength. the dollar was higher again. do you see as a one-way bet? alicia: in the near term it is, but not forever. primarily as long as the trade war with china goes on, the dollar will remain strong. europe has a problem with italy, and they have a

joining us now alicia levine, chief market strategist with bmy melon and michael laroni which has 2.7 trillion under management. a battle of the trillions. alicia, welcome, good to have you with us. >> thanks for having me. >> a lot of people think the bull market is in trouble, do you think it is? >> i think it is in trouble. we think that there's probably another leg down from here and if it can hold the low levels of 2018 then you could move higher, but right now we just see a very messy and unsatisfactorying market. >> when you look beneath the surface, a lot of stocks are already in bear market territory. >> that's right. the reason you're feeling it so much on the index level is because the large cap tech names which drove the market performance and became 25% of the index just in august alone, with those stocks dropping, you need the other 75% to carry it and its -- its a math problem. its very hard to get that kind of performance to move the index up. >> i was never very good at math problems and apparently the market isn't either. michael, what do you think does this market s