karen finerman, steve grasso, shares plunging to the tune of 13% right now. the social media giant missed on earnings and warned of a weak fourth quarter that big bet on the metaverse not paying off, the stock dropping to its lowest level since 2016 the call just getting started at the top of the hour. straight to julia boorstin >> reporter: that is a smaller drop than analysts expected. earnings missed expectations and the revenue outlook on the lighter end of what analysts were looking for reality lab losses aren't slowing, that's another thing to keep in mind despite concerns about how much meta is sinking into its metaverse building division i spoke to meta outgoing cfo, and he told me currency is a stronger headwind than they expected they are expecting to see macro head winds factoring into their 2023 budget. he was bullish on reels saying they are pleased with the engagement on reels and they're making progress on making money from reels he also talked about making progress on managing those apple ios operating system changes as they lap a quarter wher

. >> karen finerman. >> sort of along the same thing, somewhat boring businesses, going with gal greense're coming in with bank earnings they have been really track, xlf could be a way to play this to get all of your bank exposure. >> can >> you know, mel, we make this look easy, the "fast money." you know what the hardest segment is this cement. >> were is this? >> right now in this market it's really hard to recommend anything and that's why i was like happy to talk about the govt which i sympathy a safety trade here so that's what i'm going with right now. >> all right >> well, thank y a f youllorou watching "fast money." see yo >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to save you some money my job is not just to entertain but educate and teach you so-call me 1-800-743-cnbc or tweet me @jimcramer. time to accept we have a

live from the nasdaq market site and on your desk tonight, we have tim seymour, karen finerman, dan nathan and guy adami. let us begin at the beginning with a major rally on wall street the nasdaq surging nearly 3.5% today. and that move, my friends brings the nasdaq back to positive for the month. huh. the nasdaq 100, it was the best day since july the s&p 500 up more than 2.5 as long-time bear mike wilson of morgan stanley now says the index could see a bear market bounce that takes it back above 4,000. take a look at the moves in big cap tech amazon jumping more than 6%. adding almost 70 billion to its market cap today what will jeff bezos buy it's now 12% above its june lows and does today's monday surge suggest the bottom may finally be in? with stocks, we've got a lot to talk about is that your piece all right, dan? we're all on cam race, oh, sorry. >> doing one of these things all good i don't know where guy adami is in some bunker somewhere, but i'm going the start with him guy, let's play dealers choice joker's wild what was that game no whammies. i just conflated shows if you had

melissa lee, this is "fast money" live at the nasdaq market site a full house tonight tim seymour, karen finerman and dan nathan here on set and we start off with a big shock courtesy of the blank of england. the s&p giving up a gain of a full percent as the bank of england set a hard deadline to end the intervention this friday the nasdaq set a new two-year low and the dow lost a 400 point plus gain to end flat. the move comes after governor andrew bailey urged pension funds to rebalance quickly saying, quote, my message is you've got three days left now you've got to get this done. he added, quote, the essence of financial stability at intervention is temporary. it is not lo prolonged so, what is your take on this deadline and the markets reaction to these very dire words, tim >> look, the minute you start talking about bailing out u.k. pension funds and there is a central bank intervention that wasn't about losing resolve or central banks running back in. and a lot of people thought that this is a case how could they be buying bonds while cranking up their budget and making things look more di

builders might be able to weather the coming economic storm than you might expect on the desk ton karen finerman, dan nathan, guy adamiy and jeff nels the china etf dropping to an all-time low it's now down 80% from the record high hit. the china large-cap xfi dropped over 9%, on pace for its worst month since september 2011 among the biggest losers, an online recruiting company and fintech firm 360 dij irktech, alibaba dwopg 12.5% dropping to its lowest level since ipoing in 2018 starbucks which are counts children as its second biggest operating region and las vegas sands down more than 10%, yum china down nearly 14, all this after china's president xi jinping locked in an unprecedented third term in office the win sparking fears that his policies could hamper growth of private firms and make the country uninvestable we've got live reaction now from our eunice yuen in beijing good morning on the ground. >> reporter: hi, melissa president xi, as you said, secured a third five-year term so that much was expected, but the scale of his political victory has made him the most commanding leader sinc