our guest is still with us, and mike regan. want to get to your perspective, in what we saw with energy markets, the significant selloff. why the catch up today? >> if you look on a relative basis, energy stocks have been struggling very while. the s&p 500 energy sector relative to the s&p has fallen to new multiyear lows a week or so ago. so with the market down, that felt that much worse. throw on weak economic data on top, ok, the global economy probably won't support energy prices. the political risk with iran, may be taking out on the market a little bit. put that together, and here is a sector that is in a multiyear lies have, and most ral been selling opportunities and continue to be. joe: volume on equities was lower than it has been lately, but not massive. and it felt as ugly as it got today, and of course a rebound in the final hour of the day, at no point did it feel the panic, capitulation selling that would mark a bottom. mike: that is fair. there's a school of thought that to complete a correction you need one re

joe: joining us now for more, mike regan, editor for bloomberg's markets live blog. mike, what was the most interesting thing you saw? kind of straightforward, a selloff, but what stood out? mike: people are trying to separate what is the fundamental driver. obviously the lighthizer news last night started everything, and where does systematic hedge funds come in reacting to the uptick in volatility and start deleveraging? but it is difficult to sort one from the other. obviously, if volatility picks up, that will cause treasuries to sell, fundamental investors, in addition to the programs. i don't think you can really separate and say this is just a hedge fund phenomenon, given the reaction we saw after the opening of futures sunday night after the trump tweets and the headline about robert lighthizer last night. so that's clearly the match lighting the fire. willuestion is, how big the fire burn because of these computerized strategies reacting? joe: i have not heard many people blame the quant. [laughter] people have been restrained with quant bashing. everyone exp

vonnie: that is senior markets editor mike regan joining us.ow the standoff between the eu and italy continues. italy set to respond to the european union as it faces a multibillion euro penalty from the commission due to the failure to rein in --. we are joined the moment. it seems like we have been here before it is this time different? john: it is different because of the balance of power. now have a dominant force in the coalition because of his massive win in the you -- eu parliamentary elections. is latest we have is that he preparing for a coalition with brussels. vonnie: what will italy tell brussels to try to calm nerves ?ussian ma year was clash last over the spending policies of the populist government, especially the flagship ones. , it is expected to tell brussels that actually these two measures will not cost as much as had been expect to. that is one argument. they will try to use this to justify the italian budget measures. vonnie: are we set for another clash between rome and the european union? likely. looks very there are mit

jason: mike regan, so smart as always, thank you so much.r: another look at china in the features section. beijing's latest crackdown targets the country's liberal economists. jason: we spoke to mark campbell about how president xi is reasserting the state's economic role. matt: what has been going on with this think tank is something that has been known about among people in the economics community in china, among china watchers in the west. what has been happening to these guys is not a secret. they were and are quite prominent among the more influential of the think tank community in china, very rare, independent economic policy voice. they are silencing, or near silencing, which was something that was really noted among those who care about what's going on in the chinese economy. taylor: talk to me about the transformation of uniroll from how it was a decade ago to in the most recent years under president xi jinping, and how that has changed. matt: well, taylor, this is an organization that came to sort of mainstream status for quite a w

thank you so much, along with mike regan. to recap, nordstrom numbers, and a full year outlook for earnings-per-share that comes in later than expected, $3.25, whereas before nordstrom saw anywhere from $3.55 to $3.90. the company says they expect softer trends in the fourth quarter to continue into the first quarter, and a further deceleration. some executional misses as well. that does it for the closing bell and for me. romaine bostick is stepping in for what'd you miss, where we have more on retail's continuing challenges. this is bloomberg. ♪ ♪ ♪ caroline: live from bloomberg world headquarters in new york, i am caroline hyde. romaine: i am romaine bostick. joe: i am joe weisenthal. caroline: a continued snapshot of the melt-up we see in u.s. stocks. joe: the question, "what'd you miss?" caroline: china pledges retaliation for huawei as the u.s. gives the tech sector time to adjust to last week's ban. the cloud of the trade war looms large over retail, nordstrom joining kohl's and jcpenney in declines. and a desperate ga

mike waltz sitting on the house armed services committee. saw an interview last night the president did with trish regan on fox business. the military option is there. how close they might be to it, if at all. >> what the military is doing now in terms of the pentagon and i spent yesterday with admiral fowler, the commander of our southern command based out of miami. they're looking at all options. they're looking at what assets they have in the region. we've had special forces next door in columbia for many years training the columbian army. we have how do we pre-position ships in the region. importantly humanitarian supplies. and also talking to our allies. in talking to him the columbians are ready, brazilians are ready, dutch and french have assets in the region from french guyana and the whole dutch protector yat. at the ends of the day it needs to be a coalition effort. the u.n. is a non-starter because of the russia and china veto. we looked to the organization of american states, 34 nations and keep in mind, 50 nations have recognized the guaido regime. but importantly, bill, this would be a supporting and would

wall because it was ronald regan who wanted to tear down that wall, and defeat the soviet union maybe that's what he was for a wall. ed: governor we appreciate your time, mikesummer in august. it's not a milestone but it's not a small one either governor we'll get into that next hour. pete: happy birth day, a little early. thanks, governor. >> thank you. jedediah: we'll turn to headlines for you. president trump service members accused or convicted of war crimes according to the new york times that includes the cases of matthew goldsteyn. in separate cases charged in the killings of an alleged isis fighter in iraq. on fox & friends yesterday, gols teyn's wife calls the case heartbreaking. >> this is how we treat somebody who put himself in such grave danger to make sure that his men came home. this is about destroying my husband, and my family. jedediah: both cases are set to go to trial. and convicted cop killers could soon face execution in massachusetts. proposed legislation would give judges the discretion to impose the death sentence on adults guilty of murdering police officers. republican state lawmakers say cops are under attack and need to know the