to finance and joe weisenthal's reflection on the recent craze in sticking money -- craze of stickingcryptocurrencies and cannabis stocks. jason: we talked to him every day on our radio show. i have to say, he is always interesting. >> i really think that it's not an accident that we are seeing these things at the same time last year be crypto bubble, this year incredible moves and cannabis stocks -- in cannabis stocks. what i wrote about in this these is some of the underlying technology -- psychology around both. they attract a lot of the same people. ,ort of overwhelmingly young men, millennials. they have these antiestablishment, rebellious ways to get back at the system. in this post crisis era where there's still is a lot of distrust in financial institutions, we know there has been a huge collapse in the trust in government and those things. >> it feels like the woodstock of assets. i think we constantly look at these aphids, whether it is cryptocurrencies or cap -- assets, whether it is cryptocurrency are cannabis, is it --? >> it is very different. in the 1990's there was a m

jason: i love the way joe weisenthal's mind works, the connections he makes between dot-com, crypto,bis. more bloomberg television starts right now. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following paid presentation is brought to you by dr. ho. do you suffer from back pain? tension in your shoulders? arm pain? knee pain? or pain in your legs? pain can affect how you work, play, and sleep. the physical pain is horrible, and the emotional pain can be even worse. you are about to discover a breakthrough in pain relief technology. introducing the dr. ho pain therapy system pro, a revolutionary approach to pain relief. it provides instant, temporary relief for your aches and pains. imagine being able to relieve your paihe

>> joe weisenthal, it is a treat to talk to him every day.way his mind works and the connections he makes between.com, crypto and canvas. it's really a lot of fun. more bloomberg television starts now. ♪ ♪ emily: i am emily chang. this is "the best of bloomberg technology." we bring you all of our top interviews from the week in tech. coming up, sales forces marc benioff on his new co-ceo, his new magazine, and the responsibility tech leaders have to shape the world. plus, filtering out. instagram's founders are leaving facebook. the surprise announcement raising concerns over the future of the social network and competition with snapchat. big tech and congress agree on

jason: i love the way joe weisenthal's mind works, the connections he makes between dot-com, crypto, lot of fun. more bloomberg television starts right now. ♪ ♪ david: if president trump called you and said i really need you to come in and help your country, what would you say? condoleezza: i am happy to be doing what i am doing now. [laughter] david: you negotiated with north koreans. condoleezza: when i first heard he accepted the invitation, i thought, nothing else has worked, so why not? david: on the iranian agreement. condoleezza: i did not support that agreement. david: let's talk about vladimir putin. condoleezza: i know him well. he likes me. david: what are the qualities you think great leaders have? condoleezza: a sense of humility about what they can achieve. >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok. just leave it this way. alright.

i'm joe weisenthal. >> 30 miss from the close of trading, red across the major averages. s&p 500 falling to its lowest level in two weeks. >> the question is what you minutes -- would you miss? president trump ready to impose tariffs on an additional billion dollars worth of chinese goods. two senior executives announcing exits from the company after elon musk smoked marijuana on a comedian podcast. a labor market surprise. wages climbed by the most since the end of the recession as hiring also jumped. president trump amped up his trade war rhetoric threatening tariffs on 267 billion dollars worth of chinese goods. he spoke with reporters earlier today. >> we have added another 200 million. $267d that is another billion ready to go on short notice if i want. the occasion. joining us from chicago the big question right now for a lot of people is have markets already priced in another $200 billion in tariffs, let alone another 267 billion? >> they have not. first of all we have to think of how these work.

joe: i am joe weisenthal. carolyn: stocks lower and investors left with a few safe havens. e: the question is what you miss? scarlet: brett kavanaugh is in the hot seat. we will take a look at how his confirmation could impact business regulations. index tracking emerging-market currencies headed for the lowest those this year south africa leading the losses. what opportunities with this selloff create? round two of silicon valley senate hearings kickoff tomorrow. testify on russian election interference, we have gotinterfa review. carolyn: emerging-market sold us new today with south africa entering a recession or joining a recurrence the two are concealed -- argentina. for more, let's bring in the managing editor and managing founder, gavin, over the phone. gavin, are we in a state of contagious this at the moment? every single emerging-market engulfed in this today. >> i mean, we most certainly are in us date of intention, as much as those investors that are still toughening out in emerging markets and there are still plenty of them in their, hitting markets, but there ar

, joe weisenthal. joe, it is not just the value, it is the trading volume. is this the bottom? >> i have no idea if this was the autumn or not. with the price -- the bottom or not. with the price collapse, that causes a volume clash -- volume collapse. we saw a small round of layoffs last week at the popular crypto exchange. we are not seen that much more. we have not seen an exit is from the industry yet. if we were to look at past historical bubbles, we might expect to see more. on the other hand, we could bounce back more if the believers are correct. emily: somebody not exiting the industry is sitting with me right here now. do you think this is the bottom or is that still to come? >> it is hard to say. right now, the market is looking for some defining moment or catalyst. you're just seeing rumors right now. next year, you will see the big entrance become real. square might offer the coin processing for merchants, and others and all of it will become real and you see some adoption to see the price bounce up again. until then, it is up and down on rumors. emily: joe, let's

, joe weisenthal. joe, i know this is something you follow very closely. it is not just the value, it is the trading volume. is this the bottom? joe: i have no idea if this was the autumn or not. pricetely, with the collapse that causes an interest collapse and causes the volume collapse and that is bad news for the exchanges. we saw a small round of layoffs last week at the popular crypto exchange. we have not really seen that much more. we have not seen that accidents fromthe industry -- exodus the industry yet. if we look at past historical bubbles, we might expect to see more. on the other hand, we could bounce back more if the believers are correct. then we would not see that. emily: somebody not exiting the industry is sitting with me right here now. do you think this is the bottom or is that still to come? >> it is hard to say. right now, the market is looking for some defining moment or catalyst. right now you're just seeing rumors right now. next year, you will see the big entrance become real. if goldman does launch a trading desk, square offers

joe: and i'm joe weisenthal. line: the markets were up and who cares about a chinese tension and retaliatory measures because the s&p 500 closes up 5/10 of a percent. joe: "what'd you miss?" caroline: legal roadblock with of taking hiseet company private might be at the heart of a criminal investigation. china announcing retaliatory tariffs on u.s. goods. stocks shrug off the trade tension. there is a nuking king of cannabis, tilray is taking growth. the u.s. government gave them the green light to import medical marijuana into the country. tesla could be facing a legal roadblock. they are under investigation by the justice department following elon musk's tweet taking the company private. tesla conference it was contacted by the doj but has not received a subpoena. joining us from washington dc is thomas gordon. we would love to get your perspective here. you advised the firm on compliance. tesla, withadvising their compliance and gone astray? thomas: not at all. what they have here is an informal request from th

joe: and i am joe weisenthal. caroline: a snapshot as everything closed in the green. joe: the question is, "what'd you miss?" caroline: florence takes aim at the carolinas and some key crops are in the eye of the storm. we will see how devastating the storm could be for commodities. then, why one of the biggest bowls on the street says tesla is no longer a good investment. meanwhile, trade talks continue in washington. canada's foreign affairs minister is back at the u.s. representative building in hopes of making a deal. she is back in washington and using her favorite word, productive, to describe ongoing nafta talks. there is no hint of a deal in sight. that is not the only trade front trump is posturing on. there is still china to deal with. >> there is a broader question to be asked about with the tension of the united states and so-called china. many of the investors are not changing their position. china have an agenda and they have executed well. >> this long-term game plan by the chinese to shift the center of the universe from the states, all the proper trade

. >> joe weisenthal, it is a treat to talk to him every day.the way his mind works and the connections he makes .coms, ,coms,. -- crypto, and cannabis. more bloomberg television starts now. ♪ ♪ >> mega media mergers, comcast and fox in a $39 billion battle for sky. what regulatory hurdles remain. the world's biggest asset managers are bidding from a break from eu policy. ants scott scandal as investigations into the danish bank get -- get underway. how to go to the subject of one of europe's biggest cases of money laundering. welcome to bloomberg markets rules and returns.

scarlet: joe weisenthal joins us . you're looking at cryptocurrencies. >> the headline markets are not that exciting. there's a bunch of things that are interesting. notcrypto's go which have had a good day in forever are up. for the first time in a long time people are buying them. there is a strain between these two always. itthey have to choose if goes into cannabis or crypto. >> it is the perfect hedge portfolio. look at the risk appetite today in equities. .eems kind of quiet the dow still clinging onto the advance led by the likes of mick donald's. you can see the nasdaq off of 1%. a tech sector etf, lower on the day, the worst performer shares as a group. it is going to be the last you will see of it for a wild. .ou have 12 sect yours telecom is the best performing group up 4%. scarlet: let's dive deeper into the market reporter. what are you watching? n, i am looking at micro lonely in the information technology group without the buoyancy of that communication services group. yesterday, the forecast for sales,

joe: and i'm joe weisenthal. welcome to the closing bell coverage everyday from 4 p.m. to 5 p.m.julie: we begin with market minutes and stocks. we are seeing this divergence once again with the dow performing better here because a lot of the selling is concentrated in technology. nasdaq is down for the third tense -- is down for the third straight session. this is the deepest three session slump since july. it is notable that we are kicking off september here. a period of increased volume when people are getting back to work. the volume in the nasdaq specifically about 22% above the 20 day average. if you look at the 100 day volume, about the same level above. people are selling in tech in relatively high volume. speaking of tech, we just talked about a semiconductor maker, the worst stock in the industry currently. there is analyst pessimism we are seeing within the semiconductor industry. we are also seeing pessimism in the casino industry with when resorts walling -- wynn resorts falling. they cut their las vegas revenue per room. high alert has been issued for a fever. twitte

joe: i'm joe weisenthal and if you are tuning in live on twitter, welcome to the closing bell coverage every day from 4 p.m. to 5 p.m. eastern. scarlet: we begin with market minutes. we had a big selloff in tech relative to the rest of the broader indexes. the dow is up 24 points coming off of its lows. the s&p 500 losing a quarter of 1%. look at the nasdaq off. the xl k etf, that fell as much as 2.1%, the biggest drop since june. --ly closed it down while down about 26%. the hearings that we are following in washington with the ,witter ceo and sheryl sandberg testifying did not help sentiment. caroline: a marathon day for jack dorsey. he is still going. scarlet: speaking of, if you look at twitter shares, down on the day 6% closing just below $33 a share. -- idorsey is saying should say republicans pressing for jack dorsey of what they call shadow banning of conservatives. they focused more on russian meddling in the midterm election. we are also keeping a close eye on american express. tradinga dive in late after the wall street journal said fbi is investigating pricing practices. th

. >> i am am scarlet fu and with us is joe weisenthal. uthtocks now turning after jay powell wrapped up his news conference. joe: he seemed to like about dropping of the accommodative language in the text of the statement, but chairman powell downplayed that a little bit and throughout the course of the press conference, people sounded more hawkish. caroline: it is risk off in terms of stocks but not in terms of bonds. joe: that is the surprising part that we are not seeing higher rates on the move so 10-year yield is down to 3.05 today. thelet: i am looking at three major indexes and they were kind of positive, it was modest gains leading up to the news conference and they did get a boost initially after the statements, but there is a drop off in the afternoon over the last 20 minutes. it looks deeper than it actually is because it is fairly narrow, we are off by 3/10 of 1% for the s&p and dow and 2/10 of 1% for the nasdaq, but if you look at the industry performance here, industry groups, real estate, financials leading to the client --

joe: i am joe weisenthal. what did you miss?e: deputy attorney general bob rosenstein was scheduled to meet the president on thursday after report says he is set to leave. comcast spending spree as they fell the most since february as investors think they may have overpaid. argentina pinning its hopes on the imf as increased and its credit line will shore up investor confidence. the tariff battle between u.s. and china intensified today as the donald trump demonstration imposed tariffs on $200 billion of chinese goods ranging from a smoke let's to food seasonings -- baseball gloves to food seasonings. china refuses to talk trade with the u.s. and in -- impose tariffs. >> it is a trade war. >> it is an economic war. >> trade talks dominate the agenda going into the fourth quarter. >> we have a perfect storm. >> we are not seeing the u.s. rep up the script and walk away from trade talks entirely. >> bigger issue from the united states is if the dollar continues to strengthen. >> a lot of progress made with trade talks. investors h

over in washington, we have kevin cirilli and joe weisenthal and romaine bostick on the desk with me now. let's get to washington to get a reaction on the hill with kevin cirilli. this, how do you take first part of what is really a drama unfolding? kevin: it was gutwrenching testimony. unlike any testimony we have heard before and part of a gutwrenching day in washington dc. brett kavanaugh going off script from the testimony he had committed and crying at several points at the mention of his parents and his daughter. completely denouncing the charges and allegations that have been made against him. at one point, going against senator feinstein, and pushing back against her. that is the first round of questions we have seen. following that, we will hear from more democrats who get to question him. president trump, for his part, according to one of our reporters, is watching at his private residence at the white house. there was a very compelling testimony from christine blasey ford earlier. her attorneys say she is not watching judge kavanaugh's testimony. you,kevin, i want to ask e

joins usjoe weisenthal to you have been keep an eye on the inflation targets. joet the most exciting day in the world, but i think it is interesting that after the fed hike, we continue to get inflation data that is kind of cool. reading, not seeing the signs of upward pressure. we also get cpi later and all that stuff. i do think we should keep an eye on any possibility that inflation data doesn't play ball. caroline: interesting that tesla spending was not looking quite so pleasant at one point. scarlet: kind of cold a little bit. if you add it all up, not doing much for equity markets. at least today on the last trading day of the third quarter. there is a lot of motion. but it was in a narrow range. really, you have little changed for the major indexes. within the industry groups come up by better than 1%. this week we saw treasury yields get to as high as 3.11% on the 10 year. have come back in since. financials and materials are your big lacquers. -- laggards. down by 4/10 of 1% on the day. facebook. it little bit under pressure. we are just moments away from