dan yergin. let's also check in on the equity market. in particular, the dow which has just plunged 400 points. now, coming off a low. we are hitting a low of our session. the worst plunge since september of last year. ♪ ♪ betty: good morning and welcome to "bloomberg markets." the markets we are closely following. i want to go to the market desk with julie hyman. julie: energy, i want to get to that. i want to start broad and look at what we are seeing. forave not hit these lows an early session. we have a long holiday weekend. short or longw investors want to beef. we are seeing oil selloff. thiscontinued selloff morning. it is below $30 per barrel. it is down 5.5%. we see money flowing into treasuries. that is characteristic of the risk option. below 2%.touch now, it is below 2%. ares a very big move we seeing in the 10 year. in terms of individual stocks, the oil majors are selling off, not the most, but we are seeking death scene big declines. the energy group is the worst performer. but we are seeing big declines. the energy group

tom: i think of dan yergin and his piece on royal dutch shell.on camels across the desert. this is a sophisticated company. it is just as much about downstream as up stream. what is aramco worth? awald: i think it is downstream refinery. tom: they are accountable. these forilding gasoline and diesel for the asian markets. they are healthy refineries and they want to value them. get some of the rents for those through the stock market. what are they worth? one refinery there is worth $2.2 billion. you gross up for what they have you could get to $20 billion. tom: just in the downstream. george: if you thought the salaries thought our -- the salaries thought our oil prices were $70 to $80 in the not-too-distant future -- tom: why are we doing bloomberg surveillance with george magnus -- francine: this is what it is about. magnessld you give mr. and the rest of us by hold cell? oswald: knowing them, i feel they want to be diversified downstream, not just selling the crudes. they want to sell the high-value products. that is been a ten-year strategy

. >> dan yergin from ihs. we are headed to the close. 35 minutes left in the trading session. still a 300-point decline for the industrial average. one that we're really keeping an eye on, though, the nasdaq, which is down sharply today with technology really taking the hit. nasdaq down 2.6% right now. >> coming up, why morgan stanley's chief strategist is telling clients to off load tech, too. >>> also, then there's twitter. losing half its values since jack dorsey came back to run the company officially in july. we'll look at why this stock just keeps struggling, when we come back. >>> welcome back. another tough session for stocks, but this was wasn't, bill. where we were watching china overnight first. i mean, this is one where it's really watching that intraday chart, we're sliding deeper and deeper into the red today and it's got everybody scratching their heads. utility is the only chip in the green there. consumer discretionary getting hit, even though oil prices keep falling. i mean, just go ahead and look at the financials. down 2% today. there's a lot of selling her