doug ramsey is joining us. he says it could reach 20%.hat is going through the minds of investors after today? >> it was a crazy day. i think, given the experiences that we have over the last five or six years, we are preparing to buy another dip. that has been awarded time and again now, and i do believe they're getting ready to do it again. i would not be surprised if we they saye bounce were it's good to do. i would be a seller in any meaningful bounce. ust might be a catalyst for to get to maximum defensive posture. we're almost there right now. we have a little bit of powder where we could reduce our equity .xposure even further alix: you are forecasting that the fall in the s&p could reach 20%. take a look at my bloomberg terminal. this is the number of stocks in the new york stock exchange that have hit new 52-week lows and this is just as of friday, 601. what does that tell you? >> what we had keyed on prior to the last few days was the until youad this collapse that had a very large number of stocks making new highs and lows simu

doug ramsey is joining us. he says losses in the s&p 500 could reach 20%.hat is going through the minds of investors after today? >> it was a crazy day. i think, given the experiences that we have over the last five or six years, we are preparing to buy another dip. that has been awarded time and again now, and i do believe they're getting ready to do it again. i would not be surprised if we get a nice bounce where they say it's good to do. i would be a seller in any meaningful bounce. that might be a catalyst for us to get to maximum defensive posture. we're almost there right now. we have a little bit of powder where we could reduce our equity exposure even further. alix: you are forecasting that the fall in the s&p could reach 20%. take a look at my bloomberg terminal. this is the number of stocks in the new york stock exchange that have hit new 52-week lows and this is just as of friday, 601. what does that tell you? >> what we had keyed on prior to the last few days was that until we had this collapse that you had a very large number of stocks making n

doug ramsey, michael, lisa, and joseph here with me. down the most since 2011. the nasdaq down the most since 2011. ♪ olivia: good morning. it is 10:00 p.m. in shanghai. welcome to "bloomberg market day." ♪ olivia: good morning. we have to get you straight to a market check. there is no stop to the bloodletting. stocks, commodities, current cies plunging worldwide. at one point in the open, the dow was more than 1000 points down. 500 down 82 points or not. the nasdaq off more than 200 points. all the main u.s. that smart indexes officially in correction territory. that they are often percent from the most recent peaks. the selling started overnight in asia with the shanghai composite fell for the single biggest a drop since 2007. the emerging markets index off the most since 2011. in europe, the stoxx 600 heading toward its

we actually had someone yesterday, the chief investment officer doug ramsey, he said as soon as we get a correction, we could definitely know the eminent rate hike. that is an extreme view. that remains to be seen. we were down big today. who knows if the bleeding will stop. he mentioned the asia and markets down in early trading so it should be interesting. angie: that is what we are doing right now. thank you for bringing us all of the market action on wall street. asia is waking up to that turmoil that happened overnight. what a day for wall street. and look forward now to what we are watching today with global markets. david joins us. it is turmoil, indeed. david: it is. district was actually looking a little busy. there were a lot of people in the street. a lot of these traders got out of little earlier because of this continuing bloodbath we see in the markets. it doesn't look good. you talked about new zealand earlier. dropping the most yesterday in 30 years. david: it is something we haven't seen in a long time. chicago new futures down. that is also down to the japanese yen. s

we have heard from doug ramsey and he thinks the selling will get worse. >> this is german by sentimentthe probability of acer camera hike is all we have seen. i do not think it is likely we will see 20% recession on the s&p 500. looking at to specific industry groups, energy as well as financials, they are leading the s&p 500 lower today. are those areas in which your prospecting? i have been concerned about energy per the drop in energy stocks followed the drop in oil. while you will see at some point in the next three to six months in of value for the sector, given what we're seeing right now, it is not clear it will make it to the bottom. we'll me hurt other aslowing commodity prices human gloom for the global economy. i understand if you work in industry, clearly, or if you are a country like russia, or it depends on venezuela, for the rest of the world, isn't it a good thing to have cheaper commodity like that? >> it is. the fallen expectation, or the fallen crude, it will actually help restore equilibrium. think about the u.s. economy. lower crews cap -- lower crude, they are pos

police commissioner charles ramsey spoke to us a short while ago about that tow truck driver and about his officer. we are working on that story coming up in just a little bit. i'm doug shimell, nbc 10 news. >> see you shortly. >>> lamar pool, by the way, is the third philadelphia police officer killed just this year. sergeant rafael ali died a little more than a week ago when his pickup truck crashed into a tree in roxborough. investigators say he was speeding on henry avenue when he missed the curve and hit the tree. police are looking into whether he may have fallen asleep at the wheel. sergeant robert wilson iii was killed in the line of duty during a robbery at a north philadelphia game stop store in march. you can count on nbc 10 to follow withis latest tragedy on air and online on our nbc 10 news app. >>> a hot, cloudy day at the shore but still crowded along the atlantic city boardwalk, people trying to get in last minute beach time before labor day. here's a live look over center city philadelphia. we are bracing for what could be, yes, our fifth heat wave of the season. there's even warmer weather ahead this week. >> first alert meteorologist brittney shipp

doug is the father. wait, what? >>> big news today is the dow closed with a loss of nearly 600 points. what does that mean for you? here to answer that is dave ras ramseyme and answering your questions. where are you putting your money? in real estate and the stock market as well. >> i invest in mutual funds always. i always have, and always will. i want to take advantage of things that are happening at apple or dell or mcdonald's or coca-cola or lowe's or home depot. you can name on and on and on. these are wonderful american companies. they make great decisions as a whole -- there are a few individual idiots involved. but as a whole they are great, and i continue to invest steadily. >> for someone who is young, i would imagine the same advice. i mean, if you are older in the stock market, should the strategies be different for young and old? >> sometimes folks tend to slide to a little bit more conterve sieve -- sometimes too far contervetive when they hit conservative age. they move it to a money market or bonds. when you are 65 years old, if you are in decent hemt, the problem is you have got to live another 30 years and outpace inflation. i had a