rick newman is a senior writer for yahoo finance.ood morning, great to see you. >> hey, stephanie. >> has this interest rate move made wall street more upbeat? >> i have my doubts about that. it's a little bit puzzling that investors would feel better, given that the chinese authorities basically said the banks can lenning more money into a economy that has too much debt. i think it shows they are certainly paying attention in beijing. another interesting thing didn't happen, and that's that the chinese authorities did not intervene in the stock market itself. they did not direct anybody to buy stocks, which they have done before, they basically just let it fall. so maybe that's an indication that they are going to let their markets -- let those normalize and just find an equilibrium state so at least we'll know what is really going on with those markets. >> a lot of analysts have said that those markets may be overvalued and may not reflect anything real happening in the chinese economy anyway. what forces are at work that are lifti

rick newman, great to see you. thank you so much.ve been asking how worried are you about today's market dive r. you very concerned, not worried at all or somewhere in between? it's the bing pulse question of the day. this is what you have been saying. 84% are slightly concerned. and only 16% are moderately concerned. you can go to pulse.msnbc.com and cast your vote there for responses later in the show. and as we have been talking about the ripple effect of the markets and the rebound as we're watching as we amp toward the closing bell, we have the 1,000-collapse in the first few minutes of trading enough to cause donald trump to warn of impending doom to the followers on instagram and twitter. take a look at what he had to say. >> i'm telling everybody china's taking the jobs, the money. be careful. they'll bring us down. you have to know what you're doing. we have nobody that has a clue. >> let's bring in jonathan allen of vox. good to have you with me. and is this a one-day event for 2016 campaigns or do they need to start seriou

let's bring in rick newman, a senior financial writer for yahoo finance and rick good to see you. let's piggyback on some of what ali was talking about here, what in your mind from your desk at yahoo what is driving this sort of market sell off? >> the markets have been going sideways for most of 2015 and if you go back a couple of months, let's remember what everybody was worried about, greece. that is what everybody was paying attention to. you know, greece what happened in greece was really no surprise. i think you could fairly call that a known, unknown. we didn't know what the outcome was going to be but we knew we had to pay attention to it. we got through that and what is happening now with china you might call an unknown, unknown and this sort of came out of no where and i think two things are going on. first i think there are some problems within this shanghai stock market which is not a real stock market the way we think of it. it's kind of a closed stock market. >> wait, when you say a closed stock market and there are some things going on, some things that we weren't a

. >> reporter: rick newman says china's contribution to this volatility was difficult to predict. >>hat is happening with china is what you might call an unknown unknown. first there are problems within the shanghai stock market, which is not a real stock market the way we think of it, it is kind of a closed stock market. >> wait, when you say a closed stock market and some things are going on, things that we weren't aware of? >> well, we have been able to see what is going on in the market, but we didn't anticipate the activities of the chinese government getting involved and doing things like encouraging people to buy more stocks and then doing things that encouraged them to sell, and then telling companies they didn't -- buyers they can't trade stocks. they have to stop. there has been a level of involvement that we're just not used to. so we have been trying to sort that out, and number two trying to figure out if that tells us something somebody weakness in the chinese economy that we did not see. so what to watch is what more do we learn about the real chinese economy, not just

well, rick newman over at yahoo!latest article and here's here this afternoon to tell us about it. >> you have viewers throwing coffee mugs at the tv set right now. >> it's you, not me. it's your article. >> fair enough. >> you start out with immigration. let me play the latest on that. >> lot of these gangs and the most vicious are illegals. they're out of here. first day, i will send them people -- those guys are out of here. you need enforcement. you need lots of things. but you also have to get the bad people out, the people that aren't supposed to be here and they'reillegally. it's going to be tough. not like oh please will you come with us? >> what do you imagine him doing on immigration? >> i try to take some of his statements and policy ideas and try to translate them into action. how would you do the things if you were president? first of all, is 1 million, 12 million illegal immigrations here in the united states. they would be incredibly hard to find. everyone thinks you can't track them down. i don't know

chief economics commentator for the "wall street journal," and columnist for yahoo finance, rick newman. austin, how do you rate today's last minutes in light of the tumult use few days that we've been seeing. >> i think it is a false analogy to look at 2008. fundamentally this is being driven by economic problems outside the united states. where 2008 was a problem of our own creation. but i think it is unrealistic to think that the u.s. economy is just going to ignore if they have a flat out melt down in china that that is not going to affect us in a negative way. i think something like that could easily push the u.s. towards another recession. not a huge one. but to see this kind of volatility and this kind of decline when the second largest economy in the world is really facing, kind of an epic hard landing, i think is totally natural. >> today what happened, the big swing throughout the course of the day. a lot of people still seem very on overage the course of what's happening over the last week. what should investors make of the strong show early and then the faltering towards the

. >> we spoke to rick newman of yahoo finance about the market trouble in china.id the dives are not going to affect most americans. >> this will harm consumer confidence a little bit, but most ordinary americans, they're finances don't depend on the day to day movement of the stock market. as long as people feel secure in their jobs, i'm not sure it will do much to force people to cut back on spending or anything like that, because people feel pretty secure in their jobs, companies really aren't laying people off and we're getting to a point where people expect they're going to be earning more. >> mary snow is back with us. a real change of tone this morning since reporting on this 24 hours ago. what is behind this rebound we're seeing in global markets outside china and nikkei. >> we did see asian markets with a selloff, but did see the futures accelerate after china came in cutting interest rates for the fifth time since november. occasions are the dow futures are indicating a gain of more than 500 points, or 3.4%. to put that in perspective, the loss yesterday