you know it's actually one of the biggest losers here today at the blue chip index that's in general the blue chip in exactly was quite struggling today we are down here at the moment with more than one point five percent it seems that investors at the end were not that's thrilled about the diamond numbers what about that profit that's pretty amazing what was it eleven eleven billion yeah eleven billion exactly yeah i mean this number of course looks good and when you also talk about sales sales quantity of profit all that pretty much you couldn't even be better but stock exchange always means looking in the future as well and i'm no was also announcing that they're expecting higher costs now for two thousand and eighteen that's was making investors a little bit of war is that because of that their profit margin could down that their share price could be falling that their dividend at the end could be less so yeah that's why we're seeing this rather negative reaction today here at the stock exchange ok well let me ask you in a second about this next story also involves die in the ten

well investors on wall street are not ready to throw in the towel at this point after blue chips gained a good three hundred points on friday we saw an even bigger upswing a recovery here on monday when blue chips gained a good four hundred points still those big swings no matter if to the up or to the down side show that there is some nervousness in the market and wednesday actually could become a crucial day that's where we'll get the related reading on consumer prices an important gorge for inflation and if that should take a bit higher than expected then maybe we might see the yields of u.s. treasuries on the move again and that could increase the pressure here on wall street but that is wednesday so at least at the beginning of the week we did see their recovery going on for a second consecutive day and beginning of the week trying or so unveiling his long awaited infrastructure blueprint how's it looking and how's it going down. a lot of traders who are saying well that's good news in general if we might see a huge infrastructure program of about one point five trillion dollars in

dax index here at the blue chip index is also down with the possibility that we might not even see fourteen thousand points that we are might even see a correction maybe to a level of twelve thousand points here at the blue chip index stocks because technical correction of course is a ten would be a ten percent fall we haven't seen that yet. could we see that later today when wall street opens. well we expect that the shares at on wall street will actually recover a little but still be in the minus we're already seeing bond yields shares dropping already by three hundred points this morning so poorly and not a very exciting day on wall street as well when you call things for the look ahead so you see. org area has taken up the e.u.'s rotating presidency and i want you thinking so what well the balkan nation isn't a role model economy it's dogged by organized crime and corruption and still has strong links to the russian russian oligarchy. went there for. the city of vanna is bulgaria's largest port on the black sea. fleet pipeline sections were made in the german city of ours and and have b

you know it's actually one of the biggest losers here today at the blue chip in the execs in general the blue ship in exact was quite struggling today we are down here at the moment with more than one point five percent it seems that investors at the end were not that's thrilled about the diamond numbers what about that profit though that's pretty amazing what was it eleven eleven billion yeah eleven billion exactly yeah i mean this number of course looks good and when you also talk about sales sales quantity of profit all that pretty much you couldn't even be better but stock exchange always means looking in the future as well and i'm there was also announcing that they're expecting higher costs now for two thousand and eighteen that's was making investors a little bit of war is that because of that their profit margin could down that their share price could be falling that their dividend at the end could be less so yeah that's why we're seeing this rather a negative reaction today here at the stock exchange it will let me ask you in a second about this next story it is also involve

and that's also the way we finished here on friday a little bit was a happy ending at some point blue chips dropped to five hundred points in the friday's session but then regained some ground at some point we were up five hundred or so in other trading range of around one thousand points at the end of the day plus of three hundred thirty points and for the week we were down five point two percent so not that bad at some point it looked like we might experience the worst week since october two thousand and eight so that not happen so could have been even worse investors saying that this is the bursting of the low volatility short strategy how does that x. help us explain this week's swings. it's not the only reason why it's one of the problems that we experience of the past couple of days because what happened specially last year is that volatility was not really existing and so a lot of traders actually placed the bets that this one had to luty is to stay low and then when all of a sudden especially at the beginning of the week volatility started to increase heavily a lot of those investor

get cash otherwise so that is one of the main reasons for the easiness and for the day by the way blue chips dropped a good six hundred sixty points we haven't seen any point moves like that since the financial crisis in the fall of two thousand and eight even if percentage wise it's not as bad as it looks if you look at the points and then on top of it we did have some pretty strong job numbers wages increasing on the huli basis by the most in more than eight years meaning we might see some inflation turns that could mean rates might move even higher and then we even had some disappointments was earnings exxon for example the biggest oil company missing wall street expectations and that stock alone dropped a good five percent so it's seen that steep decline then is the longest bull market will strain history now over. it's too early to say that the bull market is over we might enter a certain correction phase most traders are not too worried yet it's not the end of the world some seven hundred points in eight years ago we were talking about a drop of around eight percent to two day point dr

one and well it was a rocky month and it was a rocky ending to the month of february we did see a blue chips trading up by about one hundred sixty points early at the trading session and then by the end of the day the dow jones industrial average lost a good three hundred eighty points meaning for the month of february wall street or the dow jones lost a good one thousand one hundred four and that was that this was also the ending of a ten month winning streak the longest winning streak since nineteen fifty nine so it has to come to an end at some point so now we are all curious to see of the turbulence as continue in march or if we will see a bit of a calmer trading but well if you take the last trading day of february it does not not look like the market will come down anytime soon everything does come to an end at some point thank you very much because the new york. police and protesters have clashed in athens ahead of auctions of foreclosed properties the property sales are one of the main conditions of the country's international bailout loan program which expires in just a few months d

that's what people are still trying to figure out made one point blue chips lost five hundred points within two minutes that is certainly not your usual trading session was the algorithms the automated trading that kind of really put the pressure on nobody really knows at this point but the overall picture is that we see a big change in the bond market we see it yields increasing and if you look at corporations they finance themselves through the credit markets they certainly did so in the past couple of years and now with rates it was yields increasing debt becomes more expensive and there is some rebalancing going on so that's also going to be the big questions will bond prices and also raids. at this point or not so this is a broad sell off who's losing out on all of this is it is it hitting everyone. and well i mean there are also people who are actually quite excited about those big moves if you look at the traders here on wall street for example they don't really make their money when we're slowly crawling up they make money it was high wall of chili to you was big changes with

proofing dime look didn't go down well the carmakers shares were among the biggest losers on the blue chip index index on thursday nevertheless the company announced it would be paying the highest invest the dividends in its history and don was one hundred thirty thousand german employees to receive bonuses of five thousand seven hundred euros in april that's also the highest in the company's history. now if you've been navigating your way over all under the great far wall of china using virtual tunnels known as v.p.n. looks like it's time might the experts say the government isn't to crack down on companies and individuals beijing wants them to use state approved software to access the internet with the aim of keeping a close eye on things. if you're in china trying to skype chat with colleagues in the u.s. think again what about surfing google or using twitter and facebook sorry game over the chinese government is banning all virtual private networks or v.p. ends these services help users to bypass online censorship but businesses also use them to move their data securely in an effort to

day at the trading floor the oily and occasional was actually showing that the blue chip index tax could be at a level of minus eight percent even under the mark of twelve thousand points it seems now that investors are thinking a little bit again with their brain and not anymore with their stomach there are very certain that we're not going to see any kind of recession of course they are afraid of more interest rate hikes in the united states because of this we are still seeing losses level of our two point three percent similar picture also around europe but not those massive losses that we have seen in asia and also on wall street but then you'll explain the panic around the world where experiencing because as i mentioned the fundamentals a so good right now and everyone you are correction of some sort would have to come at some stage. yeah exactly i mean when you talk about yesterday for example i mean investors are also telling me there was not really an event that was happening we had a new fed chief sworn in yesterday into office donald trump was speaking but not really big events

crash that many investors were actually expecting this morning and early trading shares here at the blue chip index dax were down with more than eight percent now when you look at the router and legs dax but also around europe yes we are seeing big losses most of the indices are down at the moment with a true percent but investors really seem to realize that the world has not really changed compared to yesterday that the market environment in general is still very song we are not going to see a recession of course there is this fear of higher interest rates of higher interest rate of more interest rate hikes this year in the united states but at the same time it seems that we are not seeing this massive panic that we were really seeing yesterday happening on wall street also i was just talking to an expert here at the trading floor they are also not expecting at the moment that we're really going to see a long term correction off the market. thank you very much for this update. now as we know misery loves company and beleaguered u.s. stocks soon found fellows suffer elsewhere in the world asi

that said, we don't think the bull market and the blue chips, which do best in the end of the cyclicalull market, will see higher highs over the next three to six months over the spring and summer. we are obviously watching the action closely. there are certainly breakdowns and developments fundamentally and technically that can change our mind on that one. select whatoves are happened earlier this week, so are we expecting that this equity selloff believed to investors to going back to risk-free assets, equities that the rising -- equity stabilizing, and self-correcting? >> that could be the case, but i don't know. the last six months got intense by a lot of measures in the last couple of months. i think it would take a serious --ak -- some fix it something serious to diminished appetite. i think it is going to take a wild and a lot more pain to disabuse them of that motion. i don't see that bigger decline until a minimum starting later this year. one thing i would point out, it has been a remarkable seven or eight trading days here, but two weeks ago on friday, we were at a new bull

. >> another 1,000 point drop in the dow plunging the blue chip into what is known as a correction.t means it has fallen 10% from their high. s&p is half way to a bear market. today's selloff was the fifth stock slump in six days. all of the gains for 2018 has been wiped out. what spooked the market today? many suspect the grid will top the spike. randy mar graves is the father of three daughter sexual assaulted by larry nassar. >> senoco will be allowed to resume construction of mariner pipeline that terminates in marcus hook delaware county, and the company is agreeing to pay a fine of $12 million and change practices to meet demands of environmental regulators. the project was shut down january 3rd amidst spills, leaks and improper construction methods. let eatlet's get the late word e next seven days from adam joseph. >> we have indoor plans made tomorrow. looking at sky 6 live, before that warmth comes in, and the cold is still here. they are doing all they can for spring mountain to crank out man made snow. tomorrow looking good. the first half of saturday as well before the r

blue chips closed up 230 points after a rollercoaster ride on walwall street. volitility is back with a 350 point spike in the morning, followed by a 900 point drop before a late afternoon rally into positive territory. all three major indexes are negative for 2018. health check tonight experts say the flu season is going from bad to worse. one of every 13 visits to the doctor last week was for flu. officials say one thing that may be contributing could be the vaccine. >> we know that many people have been vaccinated. we don't know yet how well the vaccine is working against all of the types of flu strains circumstance collatincirculatin. experts say anyone more than six months should get a vaccination. >> have you ever driven while tired? a new study reveals that drowsy driving is a bigger danger than once thought. the report from aaa finds it's a factor in one out of ten crashes. the numbers are higher after dark. one in 25 drivers report having fallen asleep while driving in the past month. the highway administration believes drowsy driving is responsible fo

seen another landslide here happening at the frankfurt stock exchange so that's not the case the blue chip index docs after this massive correction on wall street currently up with half off per cent but yes there are those words also coming from the chamber off commerce here located in frankfurt they are also saying that they're. a little bit disappointed that what this new government most likely is going to do for business as you mentioned the corporate tax they're really calling the core the tax reform in the united states as an example remember that donald trump was a lowering the corporate tax rate there to a level of only about twenty five percent and they're saying that germany in order also to be a competitive in the worldwide market should have a corporate tax level at this level as well. done in the finance ministry we're hearing is going to the social democrats and it's either going to be sure that the party leader mohsen shows or show it's the current mayor of of what people say i think is it is that going to be good for business. well they're not that sure to be quite honest ab

we'll have this blue chip law firm look into it, check it all out, issue a report, explaining what happened here. the report prepared by that law firm gave manafort what he was paying for. yes, there was a face saving mild rebuke of tymoshenko's jailing maybe not being up to western standards but it excused the whole thing, it was "utterly baffling and pernicious." and by others it was called a nasty piece of work. i should mention, though, paul manafort's daughter got an associates gig at the skadden arps firm. they threw that in as a swe sweetener? i don't know. here's the second thing to know about paul manafort's lock her up adventure in ukraine. that report, that payment therein has just produced the latest criminal charges and latest guilty plea for your robert mueller special counsel's investigation. we know until last year he worked in the london off of skadden. the statement of offense spells out what the special counsel said he did "at all relevant times herein, the special counsel's office had an open investigation into paul manafort and rick gates in connection with among other

american express, dow, dupont some of the best performers, but a lot of big movers in the blue chips. >>> it's time for a cnbc news update let's get to sue herera. >> hi, everyone. president trump meeting with governors, mayors and cabinet officials at the white house just hours after his administration detailed a plan to spur $1.5 trillion in infrastructure spending over ten years. >> actually, to me this is a very, very sexy subject. the media doesn't find it sexy i find it sexy because i was always a builder i knew how to build on time, on budget that's what we want here. >>> russia successfully launching a new anti-aircraft missile. it released video of that launch saying it was a new modernized missile of the anti-aircraft defense system no other details were provided. >>> and husqvarna recalling more than 7,000 riding lawn mowers over a fire hazard the consumer product safety commission saying incorrect routing of a fuel line can cause wear and leaking posting a potential fire hazard. you are up to date that's the news update this hour back downtown to you >> that's a mouthful h

we'll have this blue chip law firm look into it and check this all out, issue a report explaining what happened here. there are two things to know about this engagement arranged by paul manafort. it gave manafort what he was paying for. there was a face-saving rebuke, maybe not being up to western standards, but it basically excused the whole thing. freedom house called the report utterly baffling and quote down right pwrong. that's the first thing to know how this worked out. well done. well-regarded, big law firm that will forever have this big bloody asterisks next to its name because of the inexplicable dance with paul manafort's pet ti dictator. that also looks great for the firm. they threw that in as a sweetener. i don't know. but here is the second thing to know about paul manafort's real life lock her up adventure that he had in e cranukraine. that report that has just produced the latest criminal charges for special counsel robert mueller's investigation. special counsel bingo cards and really not on anybody's bingo card. not on anybody's radar. we know until recently last ye

pretty much all of the losses and then in the past couple of minutes the heat is back on and now blue chips are down a good four hundred twenty points after losing six hundred sixty points on friday meaning into trading sessions we're down by more than a thousand points or we haven't seen anything like the like that at least point wise not percentage wise but point wise since the financial crisis so certainly investors are rather nervous at this point so this is all triggered by expectations of rising inflation also it seems that it was already widely predicted that the fed would raise interest rates in twenty eighteen so why is not being priced in already why this sudden market move. first of all the question is how many interest rate increase we will see in the next couple of months the market so far was expecting maybe two or three interest rate cut so now if inflation should increase more than expected then we also of course see your nose for five interest point increase but then interest rates it's not the only side of the medallion you also have to look at the bond market and was that

their shares were among the biggest losers on the blue-chip dax index. the company announced it will be playing -- paying the highest investor dividends in history, and their 130,000 employees are to receive bonuses of 5700 euros in april, also the highest in company history. reporter: i spoke to our financial correspondent, and i had to ask him how investors were reacting to daimler's profit. >> this number of course looks good, and when you talk about sales, quantity, profit, all of that could not even be better. but stock exchange always means looking in the future as well, and daimler was also announcing they are expecting higher costs for 2018. that was making investors worried that because of that, their profit margin could go down, that the share price could be falling, that their dividend at the end could be less. that is why we are seeing negative reaction today here at the stock exchange. reporter: our financial correspondent in front for. tens of thousands of germany's industrial workers are striking for the second day in the row, and the unio

the blue chips index saw it is biggest intraday reversal since .gust of 20 for the s&p 500 it was the biggest flip since 2016. if any one thing pressured stocks today it was the bond market. a weakur tre auction and a bumming deal in washington sent them on a fewer year high. that rise in terms triggered concerns that the federal reserve might raise rates. the dow was down to 25693. and -- with volatilitck are some are calling this a new phase in the market. but is there more selling ahead? bob pisani takes a look. >> reporter: it was another wild and whacky day of trading. he dow swung this a 500 rai and went from negative to up 200 points in 30 seconds but closed lower. we know a large part of the blood bath thiseek was perhaps due to obscure trading products tied to volatility. for the past year traders have been short the volatility betting it would drop and long on the stock market. this blew up on monday. trade hers toould have their short positions on volatility and had to lighten up on stocks. the question is, have the i had treers finished flushing out all these bets? is the

what this blue chip american company idoing to battle a shrink market for its core products. >>> hollywood game anger. why a new super hero movie could be a turning point for the film industry. those storiesnd more o "nightly business report" for friday, february 16th. geenk, everyone, and welcome. i'm sue herera. tyler mathisen is off tonight. comeback the s&p 500 posted its best weekly gains since 2013 following week that saw the biggest drop in stock market history. limb higher was not only big. it was broad. after a big run mp thisning stocks pulled back when special counsel robert mueller indicted several russian organizations and individuals for allegedly interfering with the 2016 presidential election. but the decline was grief and the dow and the s&p posted the sixth straight day of gains. the dow rose 19 points to close at 25,219. the nasdaq fel 16 x. the 500 add one. mike santoli takes a a lookt what could test the market next. >> reporter: the stock market's impressive comeback this the st week has been almost enough to make investors forget the shortharp drop that we preceded i

cheered the ideall init sending shares of ut up more than 3%, making it the best performing stock on blue chip dowin decks today. morgan brennan takes look at what could be next for united tech. >> reporter: all it the urge to demerge. just a month after general electric said it's considering a potential breakup of its core businesses, another industrial heavyweight, united technologies, saying it, too, is reviewing options. >> the real question is do you get a significant multiple expansion by having separate companies versus the congmerate or the fou businesses of utc? tough, tough questions. would tell you that we are looking at all of those possibilities as well as even within the portfolio that we have today, does everything fit? >> united tech operates in three main industries, aerospace, elevators, and h vac systems via carrier. the company, which is in the midst of a $30 billion purchase of airplane parts maker rockwell collins, plans to finish its view by year's end. united tech joins a growing list, one that doesn't just include ge. >> this is a trend we saw starting about three year

tonight the dow bounced back in a big way from yesterday's biggest point drop ever and even though the blue chipndex ended up 567 points today that didn't mean everything was calm today. in fact, it was a roller coaster day on wall street and saw the dow lose more than 500 points in the morning before swinging up more than a thousand points to end up in positive territory both trump's treasury secretary and white house spokesperson said today they are not concerned by recent volatility because under lying economic issues remain strong. and amtrak 188 engineer brandon bostian will stand trial15 dead philadelphia a judge reinstated involuntary manslaughter and reckless endangerment charges today and going twice the speed limit when it derailed and killed eight people and last year a judge tossed the case out because of lack of evidence showing intent and he will be free on bail but must surrender his passport. hampered by stalemates for three years running and a new fight is in harrisburg and hours after governor tom wolf unveiled the 33 million spending plan the governor is proposing to boost spe

f the biggest point declines for the blue chip index ever. >>> inflation threat. b jobs ang created, wages are growing. but good news on main street is bad news on wall street. >>> rising rates. as yieldsupo , how should you in st? our market monitor has some advice. those stories and more tonight on "nightly business report" for friday, february 2nd. >>> good evening, everyone, and welcome. sit back, relax, enjoy the flight. beca de the's turbulence is over, at least for now. and what a day it was. for t first timn a very long time,tocks hit some serious air pockets. t was, to be blunt, the worst selloff in years, fueled by concerns about rising interest rates and some nitpicking about selected corporate profit reports. the dow jones industrial average plunged 665 points to 25,520 or about 2.5%. the nasdaq dropped 145. and the s&p 500 dipped 59. all 30 of the dow components were lower. a day of rumrs. and of all the 500 stocks in the s&p 500, only a handful were in the green and higher. today concluded the worst week for the major afternoons since 2016nd >> selli

. >> the second best performing stock in the blue chip dow index this year is cisco. shares up 15% since january 1st and were bumped up today after a strong earnings report which we told you about last night. the company says it is moving billions of dollars back to the u.s. and much of it will end up in t pockets of investors. >> there is several options we have. we have always talked about the fact that we would leverage this capital to reduce our share count which we announced yesterday. obviously, to continue our capital strategy of returningsh o our shareholders, we increased our dividend yet again sterday. and then we also think we have left ourselves plenty of capacity t continue to deliver m and a that aligns with our strategy that we have laid out woover the last and a half years. >> cisco's $25 billion buyback helped put the total value of share repurchases this year at $170 billion. that is the largest a. corporate buybacks at this point in a year ever. and easily tops 2016's $147 billion. >> shake shack serves up a solid quarter with with a side of fries.

of seven eight nine or ten percent but this beat off it i mean yesterday it was in two minutes blue chips drop by five hundred points at the low of the day we saw the market selling off a sixteen hundred points after we already lost six hundred sixty points on friday then today we were up at some point by over five hundred points then down by over five hundred sixty points so swings off a good thousand points was in a few minutes or hours and that really makes people think about if something is off was the market structure itself in earlier today the former white house press secretary under president obama chimed in on the topic of mixing politics policy and stock markets take a look here at this tweet james carney tweeted good time to recall that in the previous administration we never boasted about the stock market even though the dow more than doubled on obama's watch because we knew two things one the stock market is not the economy and two if you claim the rise you the fall. now that was obviously on the mind of one reporter today he was traveling with the us vice president i want yo

nevertheless it does seem that volatility is back on the market says that carried over to frankfurt to the blue chip dax. yes dax trading in the course of this trading week has been very volatile very shaky while the economic data about germany has been very very robust this morning we got the confirmation that germany's gross domestic product g.d.p. the most important figure to measure the economy has grown by two point two percent in the course of last year especially towards the end of the year exports picked up also government spending and companies spending in the course of this morning later today we will be getting an update on the consumer price inflation the most important measure for our monetary policy makers traders and i of course will take a very close look at look at look at this for you helena back to you looking forward to hearing from you then candidate who is in it at frankfurt bank. in the netherlands public prosecutors have rejected calls to open a criminal investigation into four major tobacco companies on charges including attempted murder or manslaughter case was brought by a

it sent shares up 5% to an all-time hig making it the best performing stock in the blue chip index. that dded toboeing's hot run this year that has seen the stock more than double. as phil lebeau reports the company's outlook for y ther is still shining bright. >> pardon the n, but boein is soaring. n 2018 it could climb even higher. in fact, this year the company expects recordh operating c flow. why? look at the commercial airplane business, whereoeing is increasing production whilewn driving osts. meanwhile, its defense business has a record backlog of orders, and military spending is rising around the world. then there's the benef the new tax law, which also gives boeing more cash to spend on future products. >> we will be ramping up our investment in innovation as a result of tax reform in a meaningful way. >> there are still some bigac questionsg boeing this year, including whether it will succeed in buying brazilian plane maker embray air. the ceo says he still thinks the deal will get done. even if boeingot does buy embraer, he believes his comny is positioned to fly even hi

for the second time this week the blue chips plunged more than 1,000 points as fears about inflation and rising interest rates sent all three major indices into the red for the year. eclipsed only by monday's 11- hundred-75 point nosedive. and traders say: the selloff tomorrow the dow's quadruple digit loss was its second worse drop ever eclipsed only by -- worst drop ever eclipsed only by monday's 1,175 point nose dive. >> a 10% correction was what folks were suggesting we would get as a reversal of the trend. when we get these reversals, it's sharp, steep and very painful. >> the dow is on track for its worse weekly percentage drop since the 2008 financial crisis. >>> a leave look now on washington -- live look now on washington, kentucky senator rand paul is blocking the senate's vote on a massive budget deal. he is speaking on the senate floor preventing action on a bill designed to avoid another government shutdown. paul is blaming both republicans and democrats for "spending us into oblivion," the clock is ticking towards the midnight deadline. cbs reporter weigia jiang is live

some of those can be found in the bluest of blue chip tec stocks. for "nightly business report" i'm josh lipton. san frhecisco. >>>ubber met the road at general motors. that's where wegh begin tos market focus. the automaker said cost cutting initiatives and demand for suvs and cross overs helped them top estimates. gm saw a lot of bright spots in the quarter. >> very, very pleased wit the results in north america. a record there at $2.9 billion and 10%argins in the fourth quarter. another half a billion dollar quaromr of equity i from china. and really important improvement in our gm international marketsi another pble quarter in south america. >> gm finished up almost 6% on theay at $41.86. >>> strong demand for botox treatments helped he willer jen post better than expected profits and sales. igparately the cpany said its experimentaline treatment performed better in a study. up t 168.33 there tapestry said its coach and stewart widesman bran helped overall sales edge past expectations. earnings also came in ahead of expectations. and the company

we are seeing consecutively for almost three weeks hong kong large have been let by cap and blue-chipet is the same. so today what we are seeing right now is the momentum reverses on many of the stocks and blue-chip and large-cap stocks are the ones suffering the most selling. the selling pressure is for now difficult to ease. at thiso him on its way very strong, so on the way down wayan be worse than on its up, so it is a mirror image of the first couple of weeks we saw this year. i think in china the problem is that if you look at the market structure, many of the wealth management products filed into many of the large cap blue-chip stocks. before the market consensus stocks that these are cheap and low volatility, so they just piled been. theow because of deleveraging campaign and because there are new rules coming out saying that many of these wealth management products may not be able to extend their probably sometime this year, so that would have to sell down the positions, and that is one of the reasons we are seeing such heavy selling pressure. get an idea of how bad the damag