was it something where, you know, the administration reached out to blackrock, blackrock, blackrock reached with interest. how exactly it unfolded? because i think that is perhaps about as interesting as the deal itself as it pertains to this geopolitical environment. but it sounds like, at least according to the press release and according to those quoted in it, that it was a competitive process, kind of a standard. you know, what you would expect to see in this type of deal, right? >> gfp obviously. >> has funds. they're a large sort of private equity infrastructure group, is what we should point out, bought by blackrock. and they're obviously the ones doing the purchasing here. leslie, look forward to more reporting on it. thank you. we've got a lot more live market coverage for you of this significant decline in the s&p. some 1.75%. we're right back. >> is this how you're. >> hoping to retire? >> well hope. >> isn't a good. >> retirement strategy. you've worked for. >> a comfortable retirement for years. >> now. >> you need to plan for retirement income. learn ways to avoid. >> common m

thank you so much, rick rieder of blackrock. we are coming right back and later in the show the bitcoin king, michael sailor of strategy. stay tuned. chocolate fundraiser. ♪ with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours. pronamel clinical enamel strength can help us to keep our enamel for a lifetime. it's backed by science it is clinically proven to strengthen our teeth. i would recommend this toothpaste to everybody. it's really an amazing product. (♪) the onboarding, the benefits, time off requests, fixing payroll. it has to stop. [explosion] ♪unnecessary action hero♪ ♪unnecessary♪ was that necessary? no, paycom automates everything. get paycom and make the unnecessary, unnecessary. what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like ai. and how the industries born to support ai might better su

leavitt: blackrock is now interested in investing and taking over the port because the president was vocal several weeks ago about the need to ensure that china is not controlling the panama kind now. this is a very important place for the united states of america. we also saw the panama canal listed fees on u.s. naval ships going in and out of the canal. the president will continue to ensure the chinese government cannot be infiltrated in the western hemisphere and certainly not in the panama canal is a very important place for our country. >> continues to call justin trudeau governor of canada. i am curious what he means by that and if there are any plans moving forward with time to make candid on the 51st state. ms. leavitt: the president put that in his truth social post earlier today. he feels strongly it would be very beneficial for the canadian people to be the 51st state of the united states. they would have much lower taxes if they were part of our great country. >> you and i traveled country during the campaign this is an issue so many voters decided to cast their ballots o

charlie gasparino reports blackrock wants to buy that and 43 ports around the world at suez canal. jason rantz is here to break it down tonight. >> i'm the only president this sentence that doesn't have any -- this decade that doesn't have any troops dying anywhere in the world like he did. liz: that falsehood, president biden remember this wildly and falsely claimed no u.s. soldiers died on his watch. when they did in afghanistan and jordan. now the trump white house nabbed terrorists that helped terrorist bomb and kill 13 u.s. soldiers in afghanistan u.s. army veteran jim hanson here to react to the details. plus this story for you. >> commitment to protecting allures tent-like structures of the city of chicago, no matter where you come from or how long you've lived here. >> we're not changing how we run the city if we don't think that's the problem facing the country. >> i will never back down from a opportunity to defend boston, to defend our residents. liz: that was sanctuary city mayors being criticized for recklessness, negligence, incompetence and invited illegal aliens to

on the upside, we own blackrock for the charitable trust. oh it's been a complete. it's been trying to crack into infrastructure. it hasn't really done anything. well wait a second. ceo larry fink had a brilliant idea. trump wants to pin him up. now, back here, there are ports on either side, and they're owned by a hong kong based company that were for sale. and, well, fink, one of them, the company ck hutchison, wanted to sell these two and 41 others. why not buy them, put them into that new infrastructure portfolio that fink bought? others had the same idea. but fink got those properties, and now he has the premier infrastructure product in the world to go with his recent purchase of global infrastructure partners. could be an amazing return both for blackrock and its investors. fink kept trump up the whole way. trump obviously loved the deal. it doesn't hurt that he praised the panama canal last night. these blackrock shares what they do well, they're still down 5% for the year and way below where the company traded after its last good quarter. it's ridiculous. i

that is blackrock.er after a $23 billion deal to buy ports at the panama canal. it was a move praised by president trump in his speech last night. blackrock shares, as you can see, are up about one and three quarters of 1%. we also want to look at the etfs that are tracking tracking canada, mexico, canada and mexico that are facing 25% tariffs, and also china that's facing an additional 10% tariff. you see right here a bit of a bounce back when it comes to these names as well. the iww that tracks mexico up over one and three quarters of 1%. the iwc that tracks canada up nearly 1%. best performer the ncci that tracks china moving 2.25% higher. also, again, we're getting that chinese stimulus news this morning. perhaps another catalyst moving this etf higher. at least right now when you take a look at treasury bond yields just moving a tick higher a few basis points. the benchmark right now at 4.25, moving a few basis points higher than we saw in recent days. but keep in mind still about 50 basis points l

and blackrock strikes a deal. >> to buy ports. >> on the panama canal. the implications of that move. >> and more. >> i'm melissa lee coming to you live from studio b at the nasdaq. on the desk tonight. karen finerman, dan nathan, guy adami and danny mozes, founder of moses ventures and a host of the on the tape podcast. we start off with a wild day of action on wall street after the trump administration's tariffs on canada. mexico and china went into effect at midnight. a sell off in the last hour sent the s&p to its lowest close since election day. they finished off its worst levels of the day. the nasdaq closed just shy of correction territory, down 9.5% from its record highs. and the dow saw the biggest losses, shedding more than 600 points for the second day in a row. meantime, the yield on the ten year treasury briefly fell as low as 4.1% before climbing higher. but another twist after hours. stocks like palantir, tesla, broadcom all moving higher after hours as commerce secretary howard lutnick made new comments on tariff negotiations. for the lat

. >>> i want to look at a blackrock. taylor, good good morning to you. >> good morning.they just made a deal to take control of i think two ports on the panama canal. that's it -- what's it going to the stock? >> blackrock announced they're taking control of multiple ports. it's about $23 million. i think it's about a 90% stake that they are acquiring from hong kong-based firm c.k. hutchinson who has the licenses. panama has to sign off on this, but again, we are hearing that the ceo of blackrock, larry fink, went to trump and said you don't have to take panama forcibly if you let companies like us go in and try to buy it. and for now it's working. stuart: that's the negotiation. [laughter] i'm going to call that a win for trump actually. >> yes. stuart: i don't see why not. trump wants to kill the chips act. okay, is that good for the chip makers? because they're getting a lot of government money. >> yeah, you know, it's interesting, i think trump made the case last night when he said the chips act was horrible, why are we giving all this money away when i've just prove

blackrock is calling retirement funding an impending crisis and is calling for lawmakers to attend a summit next week to discuss ways to help americans save fewer than one in 3 americans believe that they have the tools they need to save for retirement, says blackrock's chairman and ceo larry fink high school is now spending millions of dollars to upgrade shot classes following the white collar hiring slowdown. renewed interest in the trades and the rising cost of college. the campus in madison, wisconsin just completed a 90 million dollar overhaul but hands-on skills curriculum. wall street journal reports the demand for skilled trades like welding hpc in carpentry are at an all-time high. i'm jeff on that your morning report. all right. still ahead on the kron, 4 morning news, a new smash burger spot is opening up in the east bay. the owners. >> a local food, social media influencer will their story influencer will their story coming up in a minute. ry excited about saving big with the comcast business 5-year price lock guarantee. five years? -five years. and he's not alone. -high

blackrock is calling retirement funding an impending crisis and he's calling for lawmakers to attend a summit next week to discuss ways to help americans save fewer than one in 3 americans believe that they have the tools they need to save for retirement, says blackrock's chairman and ceo larry fink high school is now spending millions of dollars to upgrade shot classes following the white collar hiring slowdown. renewed interest in the trades and the rising cost of college. the campus in madison, wisconsin just completed a 90 million dollar overhaul but hands-on skills curriculum. wall street journal reports the demand for skilled trades like welding hpc in carpentry are at an all-time high. i'm jeff on that your morning report. all right. still ahead on the kron, 4 morning news, a new smash burger joint opening up in the east bay. the owner of a local social media. a local social media. >> a local food, social media ♪♪ ♪♪ dreams begin here. welcome to the goodnight club. it takes a rebel to make something beautiful. beauty takes courage. it's an act of joy. so resist the ordinary.

. >> deal for blackrock. it's actually the largest.ent fund. >> it's a $23. >> billion deal. blackrock effectively agreeing to. >> take hold. >> of. >> two major ports. from their. >> current hong kong based owner. >> ck hutchison. and these are two ports on. >> the panama canal. this is quite. >> a strategic canal. >> and president trump. >> in his inauguration. >> speech. >> vowed to. >> take control of it. he has said. >> he wanted to take. >> it back from the chinese. he is touting this as. >> a win. as you. >> alluded. >> he is. frequently suggested. that the. chinese are running. >> the panama canal. >> now. >> as. for ck hutchison, publicly they. >> are saying that this. >> is purely. a commercial transaction unrelated. >> to. >> recent political. news reports. cnbc is digging around the sources, try to understand. >> more of the backstory. >> about how this deal came. >> together. >> given the. >> heavy political. >> interest in the canal. >> and certainly even last night, as the president was talking. >> about it. >> he wished

response to that, it also curious if the president and a reason for not specific the mentioning blackrockt is buying, reports around the panama. >> secretary leavitt: i'm not sure panama knows was going on with their own canal but blackrock is not interested in investing and taking over the two ends of the port which is very important because the president was very vocal several weeks ago about the need to ensure that china is not controlling the panama canal. this is a very important place for the united states of america. we also saw that the panama canal lifted fees on our u.s. naval ships that are going in and out of the canal, that is a win for the united states of america and the president will continue to ensure the chinese government, the ccp, cannot be infiltrated in the western hemisphere, and certainly not in the panama canal, which is a very important place for our country. >> reporter: the president continues to call the prime minister of canada justin trudeau governor of canada. i'm curious what he means by that and if there are any plans that are moving forward with trying

lisa: blackrock's fink used a direct line to trump on the panama canal deal.stening to what he says and saying i have a deal for you. i can figure out how to put $19 billion into this and get the net estates ownership over a key trading infrastructure piece the united states helped build. a question of what else is to follow. these are all of the ways people are hearing donald trump speeches differently. if they are in the private sector, what can we do to take on some of those projects? we can expect more of that. jonathan: a 100 minute address. he defended his tariff plan. america may go through "a little disturbance." annmarie joins us from washington for more. over to you. annmarie: that's right. the president doubling down on his tariff agenda and plan even though he said we could see a little bit of economic disturbance when it comes to those, diluting to the financial markets. potential from corporate executives. i'm very pleased to say we are now joined by congressman french hill of arkansas, chairman of the financial services committee. thank you for

financial system, treasury bills, treasury yield ri', cash with blackrock bank new york mellon globalbanks gives surprise stability the utility intent brings ability to move instantly for financial world. >> i am glad you said that is that predominantly the reason we need it to move money fast huge for small business. >> a couple ways to look at this, i think, ib think, one is you know we digitized everything, immediate, communications, software, information, and all of those digitalization allowed communications to motive freely, et cetera, we haven't had that with money digital currency a way with money the implication for states, profound united states allows u.s. to project export digital dollars around the world in competitive with china trying to decide with a system is going to winner a technology superpower dollar that expands the role of the united states around the world a national, small business is really, 3% fees to credit card companies banks, households send money, paying 6, 7% we can do that, at virtually no cost there is real way to put money back in you households, s

cofounded openai in 2015 lawyers look forward to the eventual jury trial, the case will continue to blackrockg the panama canal as well as dozens of other ports around the world $22.8 billion buyout of hong kong ck hutchinson highlighted by president trump. >> my administration will be reclaiming the panama canal and revert he started doing it, just today a large american company announced they are buying both ports around the panama canal and a lot of other things having to do with the panama canal and a couple of other canals. the panama canal was built by americans, not for others but others could use it it was bill out tremendous cost of american blood and treasure it was given away by the carter administration for 1 dollar but that agreement has been violated very severely we did not give it to china we gave it to panama and were taken aback. maria: the united states gained control of the canal to panama back in 1977 and in recent months trump's said it was foolish to give it away. new york congresswoman alexandra ocasio cortes skipping out on the joint address instead going live on inst

investment firm blackrock.sident trump had said china essentially operates this canal since jimmy carter, president jimmy carter sold it back to them for a dollar many years ago. panama has dug in and said they will not return the shipping lanes to the united states but an interesting development there that changes the dynamic of the panama canal a bit and here is a live with now at the dow as president trump announced as he said he would these new tariffs that have gone into effect today for mexico, canada, china obviously tonight he has his big joint address to congress. the dow down 235 points off the lows of the session after a tough day yesterday. all three of those countries threatening to retaliate with tariffs of their own. china says it is ready to fight a trade war or any kind of -- any other kind of war until the end. strong words there from china. president trump posting on true social, if companies move to the united states there are no tariffs. with that we bring in kevin, director of the national

blackrock today announced another tens of billions of dollars in infrastructure.hat does it go next? when you think about the future promise of ai, where you think, especially in the financial industry, that it will be the most productive? what is it the next big thing? marco: you need to think about it in two waves. the first wave is seeking efficiency. in our developer relations we see examples of like 20% efficiency. in the big picture of the number of developers we have, that's actually a big number but it does not stop there. the future is where ai will actually help you grow your business and make better decisions, faster decisions. what is called an agent tick framework with the ai can do tasks on your behalf. at that point, efficiency is no longer a fraction of what the human can do but it can be a multiplier of what humans can do. that is the basic premise of ai long-term. scarlet: sonali: we are watching engineers in charge. that is marco argenti. scarlet: coming up on bloomberg markets, u.s. tariffs now a reality and markets have been hit by a wave of v

they have great investors, citadel, blackrock, they have a great management team as well.hree. maria: the companies you mentioned enable lots of liquidity. >> for sure. maria: there you go. that's what investors and certainly companies who are trading want. rob, it's great to get your take on all of this. >> thank you very much. maria: rob holmes joining us this morning. stay with us. we'll be right back. the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. maria: , walt disney making cuts to the workforce. cheryl casone with all the details. >> disney going to be cutting 6% of the workforce at the abc and entertainment networks. the majority to of the cuts will affect the abc news division here in new york. this as viewers continue to c

think people don't want a 5 person, their net worth of crypto, but i would prefer it to be with you, blackrock. nervous if you're nervous, you're making me nervous not nervous. i'm nervous. but the markets cautious. okay, good never. i don't know what's going on trial. and and i. >> and i mean, you were just on the precipice of the day, you know, tariffs and stuff, which let me ask you about that, because i see that some businesses have already come out saying. >> we're going to eat it so that we're not going to charge you more. and then some other ones are saying, you know, we're not going eat they want, i think for you and me because we both love guacam le. >> just saying the words fun, poli is going to absorb the cost of avocado 25% tariff starting tomorrow. 50% of avocados to pull uses come from mexico. that's actually a good number. it sounds high, but it's a good number because they also have sources in colombia, peru, dominican republic taking off from, they say would hurt their business. how about 6 basis points? 100 basis points equals one percent to talk about 6. it's not much so con

global investment firm blackrock has agreed to acquire 2 ports serving the panama canal from hong kongand a 22.8 billion dollar deal. president trump threatened to retake control the canal do what he perceives as unfair treatment of us vessels because of chinese influence. the deal expected to be formally signed april 2nd gas prices expected to drop following opec's announcement. they will raise output by 2 million barrels a day. the price of crude oil dropping in trading on tuesday. tariffs imposed tuesday, midnight brought retaliatory measures from america's trading partners. china impose additional tariffs on u.s. agricultural goods. canada announcing 25% retaliatory tariffs and mexico is planning to announce tariffs on sunday. goldman sachs ceo david solomon says trump's tariffs are needed to level the playing field, but economists fear the aggressive moves could trigger inflation, target warning consumers. that tariffs may force the company to raise prices. ceo brian cornell said tariffs on mexico may force the company to raise prices on fruits and vegetables as soon as this week,

firm blackrock is buying two ports at either end of the panama canal.nals are currently operated by the hong kong-based group c.k. hutchison. they've been at the center of a dispute between the trump administration and panama, as president trump accuses china of influencing the critical waterway. last month, panama's president denied that china had any control over canal operations. the roughly $23 billion deal requires approval from panama's government. now for some "egg-citing" news about two love birds who've found fame online. bald eagle power couple jackie and shadow of california's big bear valley are now proud parents of two baby eaglets. yesterday, a livestream showed cracks in two of their new eggs. then, just before midnight, new life entered the nest. over 80,000 viewers tuned into the livestream this morning to watch the protective parents admire the eaglets and monitor a third egg, which is expected to hatch in the coming days. congratulations to jackie and shadow on the new members of their family. and, from the beginnings of life to the p

global investment firm blackrock has agreed to acquire 2 ports serving the panama canal from hong kong. ck hutchinson and a 22.8 billion dollar deal. president trump threatened to retake control the canal do what he perceives as unfair treatment of us vessels because of chinese influence. the deal expected to be formally signed april 2nd gas prices expected to drop following opec's announcement. they will raise output by 2 million barrels a day. the price of crude oil dropping in trading on tuesday. tariffs imposed tuesday, midnight brought retaliatory measures from america's trading partners. china impose additional tariffs on u.s. agricultural goods. canada announcing 25% retaliatory tariffs and mexico is planning to announce tariffs on sunday. goldman sachs ceo david solomon says trump's tariffs are needed to level the playing field, but economists fear the aggressive moves could trigger inflation target warning consumers. that tariffs may force the company to raise prices. ceo brian cornell said tariffs on mexico may force the company to raise prices on fruits and vegetables as soo

be just the second time in his papacy that pope francis will not lead the ash wednesday service, blackrock has agreed to buy the two ports at either end of the panama canal. the global investment firm agreeing to pay $22.8 billion to the hong kong based company that owns them. president trump has threatened to take back the canal, complaining that china now runs it. in fact, panama operates the canal. a powerful storm is set to reach the east coast of the u.s. later today, affecting more than 55 million people in areas from florida to new york. it could bring gusty winds, rain and hail with a chance of tornadoes. meanwhile, blizzard conditions are expected in the central u.s. and the midwest through this afternoon. well, the stock market hates them, and retailers say that they will drive up prices. but donald trump is defending his new tariffs against canada, mexico and china. he also told congress last night that he will roll out dollar for dollar tariffs against other countries, starting on april 2nd. a leading farm group says that the trade war will take a toll on rural america and driv

it sold its controlling stake in a panama canal port operator, and they sold it to a group led by blackrockthe $22.8 billion sale also includes dozens of ports in other countries. the move is considered a big win for president trump, who has aimed to curb china's influence in the canal, and shares are up 23%. scott. >> christina, thank you so much, christina partsinevelos. we are just getting started here and the market is continuing to get better. up next plexo capital. tony is standing by to tell us how he's playing the tech space right now in the face of those new tariffs. he will join me right after the break. we're live at the new york stock exchange and you are watching closing bell on cnbc. >> in a world of uncertainty and disruption. >> how will your investments. >> stay resilient? we've been navigating change for 125 years, always looking forward, anticipating risks and trusted to manage over $1 trillion in assets worldwide. solving for the needs of investors today and tomorrow. that's the power of nuveen. >> at public.com. >> you can. >> earn. >> an industry. >> leading 4.1%. >> a

this is fund manager blackrock leading a consortium of investment firms in buying two ports on either ports around the world from that company, which is, by the way, one of the companies that operates under hong kong billionaire li ka shing's empire. now, president trump, remember, has called into question the security around those ports, in part to their perceived connection to china. so there's a lot of moving parts for sure, jonathan, in this whole business day so far. >> yes, a couple trump advisors really pleased with those purchases around the canal last night. we'll see where it goes from here. cnbc's dom. dom. thank you mara. of course, last night's speech was not just about economic issues. there was a lot of real cultural red meat that president trump was throwing to the base. there was quite a bit on attacks on di, a lengthy section about transgender athletes, and of course, the usaid, much of which he was really mocking, you know, the some of the programs, some we should note factually incorrect, but mocking some of these programs in countries around the world, including m