they gave a very public backing of rivian management.t the same explicit backing from rivian -- amazon. they did not will out shall -- selling shares of the later date. throughout the day monday there is a lot of data to suggest that retail investors are looking at rivian, they were oversubscribed at the ipo, the retail investors missed out, there could be upward trajectory from here. a really rough day here. >> a rough day for many, we thank you so much. less talk about more that roughness in the tech selloff happening now. what does that public market spillover effect mean for private markets? early stage silicon valley venture capitalist funds, not unaware of what is happening in the public markets and the rates in those public markets, what you think, currently let's talk stocks first, how much do you see the ripple effect affecting valuations in the private market? >> i think, as an investor that really focuses on early stage infrastructure software, the market is brutal. it will certainly impact a lot of the devaluation in the priv

ford holds about 12% of rivian.ing at $24 a share, way off from the post-ipo hi, so it is really a curious time to sell, it seems. they are selling a block reportedly at 8 million shares. they still have, by my count, 94 million shares in their holdings , selling at the bottom. guy: well, maybe the bottom. what kind of signal does this send? this is either an opportunity to buy the shares they could not by earlier or signals that those closest to the company have doubts. ed: this is a stock that is sensitive to all the things we are seeing in the broader selloff. higher rates, a higher multiple stock. they've encountered supply chain problems. have earnings on thursday that will give us a good lens into how they are managing that. you and i have talked about this before, investors have choice in this space. previously tesla was the only game in town. now you've got options. but the timing is curious. we asked amazon with a plan to do. they are another big shareholder. they declined to comment on whether they will se

when you look at rivian, there are three things weighing on the stock right now. of times now lowered their production forecast in part because of supply chain issues and higher costs. the question is will they be profitable in 2025, which many analysts expect from this company. if you do believe that, that's a long time to wait to say, okay, i want to see a payoff here. we'll find out more on wednesday afternoon when rivian reports its q1 results. >> the other thing that could be playing into the sell-off today is ev stocks across the board are down 10% this group just continues to get hammered what are you hearing about the pain >> they're getting -- they're getting hammered and will continue to get hammered, sara, especially the smaller ones. forget about tesla tesla is cash flow positive. it has the money to support its growth in the future i'm talking about the small ev startups, many of which went public through spacs do they have the capital to make it to the point of production and sizeable production? if they don't, they'll have to go back tont capital ma

. >>> rivian trying not to fall further. sales missing estimates as that stock is down from the high. >>> dethroned. apple losing its title as the world's most valuable company. we will tell you the name that took over. >>> it is thursday, may 12th this is "worldwide exchange. >>> well, good morning, good afternoon or good evening. as always, welcome from wherever in the world you are joining us. i'm brian sullivan let's get to it. look at the headlines. i know they were tough not a lot of good news we are glad you are here with us it is what is happening. let's check stock futures. they are down across the board nasdaq futures down on a percentage basis more than the dow. down 181 dow down 50. a rough day for stocks on wednesday, the markets tanked on the inflation data and crypto selloff. sellers bullied. the markets down all afternoon it looks like the downward momentum will continue today on wednesday, the nasdaq lost 3% it is now down 27% this year on pace for one of the worst years ever dow falling for a fifth session

at ford invested $1.2 billion starting back in 2019 in rivian.uch ford put into rivian at one point last november, that investment was worth $17 billion. worth far less now given the fact that you have the stock coming down, what, almost 84%. so, for ford, this was just a portion of what they own and not a surprise it has been indicated. people i talked with at ford, rivian people knew ford was going to be unloading their stake in some capacity this is not a surprise that we are seeing this move by ford once the lockup expired. loose lack at shares of lordstown motors all the ev stocks are getting hammered today they have been under pressure for some time. lordstown reporting q1 results a lots loss of 46 cents per share. but the real news was during the conference call when they needed we will need to raise more capital and we haven't even completed the deal to sell our plant to foxconn to establish a joint venture with them. they have until may 18 to the make that hatch look at all the ev start-ups if they are not 52 week lows they have touched

beyond meat on pace for losses and rivian down 79% since january. will their earnings turn things around the action and trade for all of these names ahead on "the exchange." ♪ on the road again ♪ ♪ just can't wait ♪ ♪ to get on the road again ♪ ♪ the life i love ♪ ♪ is making music with my friends ♪ ♪ and i can't wait ♪ ♪ to get on the road again ♪ hit the road in skechers. >>> welcome back to "the exchange." remember the great financial crisis at its climax since september 2008, the reserve primary money market mutual fund broke the buck that triggered a fresh wave of panic that peaked days later with the collapse of lehman and the bailout of aig is something similar now happening in crypto? the stable coin terrausd plunged low as 26 cents this morning how did it happen and where do we go from here? kate rooney is here to explain. >> not every day we talk about a big move in stable coin as the name suggests. these are supposed to be stable and pegged to the price of a dollar but today the terra usd stable coin down to a low of 23 cents. investors a

>> shares of rivian.hey are down nearly 20% today ford has unloaded 8 million of its shares and we'll tell you the real reason and coinbase getting crushed in the crypto carnage. does that represent an opportunity. should you bet on a bitcoin bounceback we'll get a trader's take on that and during may we celebrate asian-american and pacific islander heritage and feature our teammates and contributor and here is gunjab >> one thing my mom and dad emphasized growing up was education and that was one of the big reasons that they moved to america was to give me and my sister access to the best education possible, and i watched them while i was growing up move to a totally new country and not knowing the language, not knowing anyone and kind of having to build up their lives from scratch, and ve crii'ared those lessons with me throughout my life. (driver) conventional thinking would say verizon has the largest and fastest 5g network. but, they don't. they only cover select cities with 5g. and with coverage of

rivian fascinating. it is a beaten down stock at the moment >> fascinating one we hope to flush that conversation out in a future show rivian story is fascinating. lots of tentacles in the market. let's look at u.s. futures and see how today is shaping up. green across the board it looks like a rebound is in store. the dow looking at a triple digit gain 300 points nasdaq looking to gain 200 the s&p 500 implied open is 43 points higher. none of these as strong as the losses we saw yesterday. do stay tuned. coverage continues that's it for today's show i'm julianna tatelbaum >> i'm rosanna lockwood. "worldwide exchange" is up next. >>> it is 5:00 a.m. on wall street here is your top five at 5:00. markets rocked by global slowdowns. futures are higher right now >>> it is not just stocks. commodities and crypto and oil sold off as investors look to raise cash is the bottom finally at an end? >>> and the staggering number of the biggest stocks lost in just a matter of days. >>> tesla once again hitting the br

we'll talk soon. >>> check out shares of rivian plunging those shares are down 16% now.ay with us visible. single-line, unlimited data as low as $25 a month. - in the last two years, we quadrupled our team and the pace we're growing, i couldn't keep up without ziprecruiter. they do the legwork and they get my job posting in front of the right candidates. i love invite to apply. i instantly see great candidates and i can invite them to apply. we have hired across all departments, engineering, marketing, hardware, field techs. you can basically tell ziprecruiter who you need, when you need it, and they deliver. - [narrator] ziprecruiter. rated the number one hiring site. try it for free at ziprecruiter.com try it for free at ziprecruiter.com >>> krim toe bowls are under even more pressure after a tough week in the world. largest crypto currency now 50% below its all time high. falling below $33,000. it's by higher fees. inv investors are not willing to wait around. we're also seeing outflow. that's the only bitcoin available. products see pretty strong inflows since novemb

. >> coming up, we'll over the after hours news in beyond meat and rivian and those companies moving in opposite directions. and sundar pichai sitting down for an exclusive interview after the developer conference what he had to say on the tech titan's future the details when "fast money" returns. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. [ doorbell rings ] whose resumes on indeed match your job criteria. my fellow xfinity customer! watchathon week was a resounding success! young man! [ snoring ] and, even though it's now over... you can keep watching the hottest shows all year long... ...on netflix... ...prime video... ...starz... ...and hbo max! just say “watchathon” into your voice remote to add a channel or streaming service. there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose

brian kelly joins us next to lay it out rivian dropping 21% as the ev makers lkuexre got the detailsast money" comes right back. joel, since kansas, we've taken our own path. we've never done what everyone else did. we took on the fear. we ignored the doubt. we loved the excitement. we believed. even when our path didn't make sense to everyone else, we kept going. we keep going. until our path is the one they wished they had taken. ♪♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. (dad allen) you know when you see a great deal on a phone, and then realize it's not for you? not at verizon. can help you build (mom allen) yep, they just gave us all a brand new iphone 13. (dad allen) we've been customers for years. (dad brown) i thought new phones were for new customers? we got iphone 13s, too. switched to verizon 2 minutes ago. (mom brown) ours were busted and we still got

and, rivian results in production goals. that is all next.. ♪ emily: -- >> we believe we can move up and cascade up our net price over time given the price we started with in the increasing price-value relationship for all new content, but we are pretty bullish about that. emily: bob chapek speaking about pricing power and future pricing power for disney plus. disney saw big growth for subscribers, beating estimates, finishing the quarter with 137 million subscribers globally, up 30% from a year ago. disney not the only one reporting results. rivian out with earnings. ed ludlow has been listening on the call. what are the headline takeaways? ed: it is still hard for rivian, but they still plan to build 25,000 this year. semiconductors are still hard. supply is still hard. the good news for investors is they have a lot of trucks built sitting in a parking lot waiting to be delivered. they are finding out the hard way it is not easy to be real company. emily: what about the supply chains and what is going on with china? ed: they are disappointe

ed: it is still hard for rivian, but it was as good as it could be.plan to build 25,000 ev's this year, split across the consumer product in the van. semiconductors are still hard. supply is still hard. the good news for investors is they got a lot of trucks built sitting in a parking lot waiting to be delivered. they are finding out the hard way it is not easy to be real -- not easy being a real company. emily: what about the supply chains and what is going on with china? are they feeling the brunt of that? ed: they are disappointed. they built 5000 people since production started. around 2500 in the quarter. but at times they had to pause the line. you saw the video. you were in the factory. all these great robotic arms stopped because they don't have enough points. semiconductors are still an issue, but they say they are speaking to suppliers and we have seen the worst of it and have hit the bottom. we will get better from here. there were some reports from the wall street journey about battery cells supplies. if you look over a five-year horizon,

. >> i would vote for you after that speech, no surprise to people i would take a look a rivian, it isning cash but it got to the point market net of cash was almost 0, slowing their cash burn, have a plan delivering cars, might be time to dumpster dive to use that term, these others -- jack: i want to tell you i drove are rivian pickup, it is a little low going in. i had to get in dukes of hazard style but go ahead. >> it is a good truck. the others have earnings, recent ipos with earnings, stronger support on wall street, global boundaries, it hurts, you're going to look at earnings but they are strong earnings, the travel rebound hurts global, i practice this. they come up with this that they added to their shampoo. what is not to like? jack: what is it called again? i don't know. good ideas, thank you. roundtable members give their roundtable members give their only two things are forever: love and liberty mutual customizing your car insurance, so you only pay for what you need. if anyone objects to this marriage... (emu squawks) kevin, no! not today. only pay for what you need. ♪

everybody's bought one. >> we did see a rivian truck being carted away on a flatbed truck. >> oh, no,driving just fine. >> you're look ooh, noteworthy in the neighborhood and then, oh. >> maybe it was a delivery? >> no, it was going the opposite. >> there's the sound, wah-wah. >> offer the guy a ride. thanks, scott. >>> happening for you today, meta's first physical store is set to open its doors in burlingame. meta the parent company of facebook says the store will allow people to gets hands-on experience with all of its products, interactive demos showing how the company's virtual reality equipment actually works. >>> so trending for you this morning, we all pretty much love going to live concerts but the cost can sometimes be too much. if you're looking for a chance to see some of music's biggest names but don't want to spend a fortune, listen up to this. >> live nation is selling $25 tickets for shows during the company's concert week. here's one of the big names. ♪ lately i've been loving you to sleep ♪ ♪ dreaming about the things that we could be ♪ >> i'd go for 25 bucks, among

. >>> the pain for rivian. it cuts its stake in the ev maker even further a very busy hour on "worldwide exc exchange." stay with us secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. >>> welcome back to "worldwide exchange." there's a high risk factor the u.s. is headed for a recession in an interview yesterday, the former goldman sachs ceo says consumers should brace for one he has a narrow path for the fed to use tools to avoid one. >> it is a risk. if i were running a big company, i would be prepared. if i was a consumer, i would be prepared it is not baked into the cake. >> let's talk about this and other issues with seema shah thank you for being here, seema. >> thanks for having me. >> interesting note from you rapid inflation and rise in the ten-year left many portfolios misaligned in 2022 which is the era of real assets securities tied to the rea

so rivian is saying you know what? the parts dispute is going to affect slow down production of the van. the news comes on the heels of word last week that ford sold another 7 million shares it held in rivian and so we do have amazon down about 1%, we don't have ford on the screen but let me just check it ford is down 2% from roadways to runways, spirit airlines flying hyatt this hour after jetblue launched a hostile , now it's hostile, all cash takeover bid of $30 a share spirits up 13%, now spirit had rejected jetblue's offer a couple of weeks ago on regulatory concerns and had instead said you know what? we're sticking to our sale to frontier. frontier is also moving higher by 7% because spirit says do you know what? we'll review jetblue's offer and we will inform our shareholders of our position within 10 business days, jetblue on the losing end today down 4.8%. the golden arches are leaving russia, after 30 years, mcdonald's says it's quitting russia due to an unpredictable operating environment related to russia'

rivian down really big, they are off 17% on reports that ford is going to sell 8 million of its rivianes rivian and ford is back to $13 a share. the drug crisis in seattle, so bad that bus drivers are getting sick from secondhand fentanyl smoke. people are lighting up on the buses and nobody is stopping them we've got the story. president biden claims he is a catholic, can he call himself that and support abortion rights our resident theologian jonathan morris takes it on, next. ♪ keeping the faith ♪ do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining stuart: all right, check those markets, please. h

. >>> still ahead, shares of rivian are going to an all-time low. let's also check on the dow heat map. only a handful are in the green but there are a few. a lot of the staples names walmart, amazon. 3 m, home depott one of your worst performers, chevron and boeing ar - hiring is step one when it comes to our growth. we can't open a new shop or a new location without the right people in place. i couldn't keep up until i found ziprecruiter. ziprecruiter helps us get out there quickly and get us qualified candidates quickly. they sent us applicants that matched what i was looking for. i've hired for every role, entry-level technicians, service advisors, store managers. ziprecruiter helps me find all the right people, even the most difficult jobs to fill. - [announcer] ziprecruiter, rated the number one hiring site. try it for free at ziprecruiter.com - [narrator] at southern new hampshire university, you can finish your degree faster and for less money. transfer up to 90 college credits toward your bachelor's degree. - i was able to transfer a lot of

rivian down 80% year to date.isa: just shocking talking about the bubble bursting, and ford sold some of those rivian shares at a discount, and we are to seeing that play out. jonathan: joining us now, christyan malek lisman -- christian mueller-glissmann of goldman sachs. is this a bubble breaking? christian: to some extent, that was in the making. we spoke a few months ago and we wrote about it in our research. unfortunately, coming out of covid, you had this constellation of both bonds and equities being incredibly expensive, and now you are entering into a very challenging growth inflation mix, where inflation is sticky, growth is decelerating, and i think the market is the rating those valuations, and in particular in the markets, i guess the uncertainty on the growth and on the earnings is the highest, so long duration tech and more recently, before that, defenses i think have been derated materially. lisa: how far into this are we? christian: it is tough to say because if you look at valuations compared to

look at rivian. rivian ford is selling more shares of the company. how many are they?n shares so that's on top of the 8 million they sold last week. ford still owns around 9.5% in rivian they are still a big stockholder with 75 million shares on their books still and rivian did rally last week, after reaffirming that 25,000 truck production target for this year and they had 90,000 reservations so there's a lot of demand for their pick-up trucks if they get on the road. tesla, since we're on the electric truck theme and electric car theme, it has the widest analyst gap of all stock out there, we're talking about $250 calls, all the way to $620 a share, according to analysts. now the stock is up 22000 percent since it's 2010 ipo and ark invest cathie wood is calling for 4,600 for the stock by 2026 but there's some shanghai covid lockdown hangover over the stock today and let's check in on lucid which is the other high flying electric car name, gas prices hitting a record high not helping the stock right now. ashley: you don't say 22000 percent very often, but hey -- >> i

now down 70% for rivian. beyond meat down more than 50%. disney more of a question with streaming but the meme stocks bank have had a massive retracing. jonathan: looking forward to your coverage on that through the day on bloomberg tv and bloomberg radio. i know you are focused on the difference between what wall street will trade on today and what mainstreet feels. a big difference. when we start talking about core, who at their dinner table is talking about core inflation? tom: larry kudlow was big on this decades and decades ago and he was absolutely correct. it is a nominal statistic. phd's can go to cleveland. bill dudley, i think it is so important to get through this before we get to our good guest this morning. bill dudley focuses on what do you do when you get back to 4% inflation? even for percent could be an underestimate. the fed is still providing stimulus for the security which will take three to four years to wind down. this coindesk is a mistake -- this coyness is a mistake. it reinforces the chart disconnect between fed of

. >>> rivian will receive $1.5 billion in state and local incentives and tax credits for the upcoming assembly plant in georgia. the $5 billion facility is expected to employ 7,500 worker was the average salary of $56,000 each rivian aims to open the factory in late 2024. >>> and hasbro has not one, but two activist investors on the case wall street journal reporting it has a 1% stake in the company by ancora and pushing for changes that include spinning off the fast growing wizards gaming unit and exploring a full or partial sale of entertainment one. a studio hasbro bought for $4 billion in 2018 which is responsible for the show "peppa pig. hasbro shares higher in the pre-market, but lower for the year >> every time i see "peppa pig" and think the cartoons we watched when we were kids were more fun >> reporter: she is cute i like our cartoons from back in the day. >> these are educational the ones back in the day were fun. silvana henao, thank you. >>> turning attention to a developing story and one likely to shape the country discourse for decades. according to the draft opinion, t

cnbc reports forward plans to sell eight million of its shares in rivian rivian stuck down 16% but itnasdaq dropped below 12,000. it was at 15,000 at the beginning of the year. as investment in technology stocks drop as an interest rates rise the s and p 500 as we take a live look at the dow, the s and p. now at a 52 week low, it's barely hanging onto 4000 now and the dow jones you can see down 1.5. 500 points on the downside there today. facebook's parent company is opening its first retail store where you can try out some cool gadgets. the meta store is located right here in the bay area on airport boulevard in burlingame. shoppers can try things out like smart glasses and virtual reality games, including golf and fishing. retail analysts say. this will be a challenging venture, though for the social media company. i think this is very much a test and let's see what happens concept because putting stores all over the country is a really resource intensive thing to do, and facebook has resources, but at the heart of it, there's still technology forward. they like to build stuff. they

worth 29.72. >> there's a lot of rivian coming to the market, david. >> look, you were dead, right?ook at these things i just look at affirm, rivian, roblox, asana, and then you get to ewe wee path. good rx, oh, my god, they're in the -- david, you and i should set up a teledoc thing we'll be doctors of, youi don't know the market. >> let's take a break, we've got pmi final coming up in a few moments. take a look at treasuries. we mentioned the ten-year getting close to three as for equities we hit 41.10, new intraday low for the year as the s&p 500 year-to-date losses approaching 15%. (vo) verizon business unlimited is going ultra! get more. like manny. event planning with our best plan ever. (manny) yeah, that's what i do. (vo) with 5g ultra wideband in many more cities, you get up to 10 times the speed at no extra cost. verizon is going ultra, so your business can get more. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ >>> welcome ba

billion in revenue and rivian didn't sell a car.obinhood, where most of it was, crypto. it is a great lesson for people going forward that fundamentals matter and you better stay on your game and never ever, ever, let stocks drop as far as they have gone because very tough to recover both financially psychologically. charles: absolutely. gary, phil, great stuff. i always appreciate it. both of you. thank you. >> thank you. charles: folks, total reality of runaway inflation shaking resolve of this market as you can see. i just mentioned the bond market is getting a bid and also the vix. that is kind of lower today. what are they saying? does phil have it right? i will take to you the chart school. i have brian shannon, one of the best. get ready to learn how to earn. we'll be right back. ♪. (dad allen) you know when you see a great deal on a phone, and then realize it's not for you? not at verizon. (mom allen) yep, they just gave us all a brand new iphone 13. (vo) now everyone can get a new iphone 13 on us on america's most reliable

shares of rivian have sunk as the company warned of production delays, as far as ford and rivian shareshen there is this. three wisconsin middle schoolers accused of sexual harassment for using the wrong pronouns at their school. the school alleges the boys did not use the words "they and them " to address a fellow student. one of the mothers is defending her son, she says he was just confused. the parents hiring an attorney. fox news reaching out to the school district, maria, having no comment. the wrong pronouns gets you accused of sexual harassment. maria: unbelievable. that is ridiculous. thank you, cheryl. meanwhile, we want to take a look at the broader economy. companies on the frontlines of the supply chain crisis facing an uphill battle. freight businesses are dealing with driver shortages, high inflation, soaring gasoline prices, diesel of course hit a record high, $5.56 a gallon today, that the is compared to $ 3.16 just a year ago. meanwhile, xpo logistics reporting a phenomenonal quarter we are talking now with the ceo brad jacobs, xpo logistics focuses on freight transpor

and rivian issuing its first recall, covering 500 of its r 1 t electric pickup trucks, according to a filing dated tuesday, the company discovered an issue with air bags that could pose a safety risk to children sitting in the front passenger seat carl, back to you. >> okay, morgan, thank you. >>> as we go to break, take a look at the markets here, at these levels the dow has roughly cut its point loss for the week in half. we were down about 1,200 points on the week, getting almost 500 back take a look at the ev space, tesla and rivian are up, along with many chinese players after china introduced incentives to promote promote auto sales which had fallen off a cliff over there. (mom allen) verizon just gave us all a brand new iphone 13. (dad allen) we've been customers for years. (dad brown) i thought new phones were for new customers? we got iphone 13s, too. switched to verizon two minutes ago. (mom brown) ours were busted and we still got a shiny new one. (boy brown) check it out! (dad allen) so, wait. everybody gets the same great deal? (mom allen) i think that's the point. (vo) n

liz: fox business alert rivian stock at one point stood at $172 a share is slumping 21 points, 6% att we get the stock, this is the electric vehicle start up the amazon took huge positions before it went public in november to $22.53. word today that ford is selling 8 million of the 102 million shares of rivian following the expiration of the ipo lockup. yesterday according to cnbc the easy sector is getting zapped at this hour, tesla down 8%, ford is down 6.5%, canoe down about 14.6%, keep in mind looking particularly ugly because they reported a wider than expected loss in the signal needs more capital to boost production, can we flip it over to uber shares they are looking at 11% leaner after the ceo told employees that the company plans on getting skinnier than it already is, shares down 11%, $23.21 after uber announced it's going to cut back on spending and focus on achieving profitability on a free cash flow basis, uber says it'll trade hiring as a privilege. boeing shares are sinking at this moment to about nine and a quarter% to 135 and change sinking to the lowest level in tw

that 300 goes t 38 bonds getting crushed, credit worries are back this week insiders sold shares in rivian. it dropped to 30 the insiders just sold a block of 22 million shares at $26.90 special weekend closing, they got on sunday morning. that includes ford who dumped 8 million dollars. today rivian lost 20% of its value, went down to 22 and change this is one of the premiere electric vehicle stocks with tentative orders from amazon but now nobody cares about theoretical orders they delivered 1,227 vehicles the first quarter. forced selling by companies or their shareholders doesn't come through to an easy end these forced sellers put pressure on the whole market so get some terrific bargains david tepper always talks to me about how you can get to your preferred levels must faster thanks to these sellers because they are creating great values he reminded me of that to me just today the last group is individuals who bought highly speculative assets that have plummetted beyond all recognition so they had no choice but sell they spent the money the government gave them and when their stocks

lauren looking at some of the movers including rivian down another 6%.d. some of people who placed their reservations really early are saying well we're still waiting because customers who place their reservations after us use some of the updated combinations that were easier for rivian to get. they started saying, you know, fewer paint colors, so if you place the later order using the new selection, you're getting a rivian before the people who placed the early order. does that make sense? stuart: it doesn't sound like a terribly serious problem. lauren: do you know what the serious problem is? rivian ipo'd at $78 and hit nearly 180 and now it's 27 and if this is the green dream and everyone is pushing into electric vehicles look what happened to this company. stuart: look at what's going on at amazon. aren't they reducing their capacity now and the stocks down 2%? lauren: there are reports they are stuck with just too much warehouse capacity so now, reportedly looking to sub-let at least so million square feet of space, and could vacate even more by en

to turn a profit in the not too distant future anything connected to the game is in the doghouse rivian was supposed to be the best manufacturer, tens of thousands of electric delivery trucks, the kind of truck amazon needs, even ford had a stake in it too watched the stock go to 118 to under 30, then ford sold 8 million shares over the weekend, putting more pressure on the stock and rivian is at 21. the board was right to get out they still have tons left. the bag got worse. that's the story of the market the numbers were terrible. tusimpl, another one too simple, cool self-driving truck technology the stock from 37 in november to $7 today that's a pathetic 81% decline. and what do we have to show for beats me how do you not like an energy play like fluns energy you don't like it if you bought the stock at 36 in november because you got stuck with a $7 piece of paper go health had been annihilated in november when at 3.60, now 76 cents. this is a health insurance marketplace and i think it's a victim of volume the brokerage firms pumped out too many health care ipos to fit the covid th

and rivian shares would slide through. ford plans to sell $8 million.expiring. >> on a morning when stocks are set for another big fall salesforce down by 2.56% stay tuned, you are watching "squawk box. this is cnbc >> minneapolis fed president with us moments ago. joining us now, from the bind administration member of general council expected to give a major speech. we went over six weeks or so fed will be in a tightening mode for a while. >> what else can the administration do to soften this blow and other things you have proposed to say, maybe not with this stuff >> thanks for inviting me and teeing up that important question >> our job as dispatched by our president is to do everything we can on the task force dedicated to this. is to help ease pressures on the supply side reducing deficit and supply under each one of those buckets, when it comes to transportation and logistics. our work at ports and trucking have worked to he deuce port time those are the buckets we are in. we can help from our side of the equation. >> you are still proposing some

. >>> watch shares in rivian today. the lock-up period on that company has ended.t means the original investors who were not allowed to sell their ownership as part of the company as it went public can do whatever they want. cnbc says ford originally an investor is getting out. you see kris and marcus, the share price $28.79. that's where it closed on friday. cnbc says ford will sell it at $26 a share at a discount to make sure it gets sold. that's unnerved a lot of investors. >> the sell-off do you think is because they're making their own trucks, ford? >> but still why not have a hand in everything? >> right. >> rivian when they went on what they call the road show, explained how great their company was going to be had a number of trucks they were going to make and they're only making about half, doesn't mean they can't ramp up to it but they're not performing as well as i think a lot of people had hoped. >> could we see what we saw with tesla? remember it was like $30, $60 a share, now $800. >> when tesla first got started they'd miss production deadlines and nu

rivian and disney after the closed, disney closedly watched after losing. elon musk he would reverse decision to unban donald trump calling it morally wrong. mornings with maria live right now. ♪ ♪ maria: morning mover, coin base, down 18%. the company reporting first-quarter earnings, revenue was down 27% from year earlier as general and administrative expenses were up 39% for the previous quarter. coin base chief financial officer said the currency platform could have grown more slowly to focus on profits and decided to focus on diverse products instead. the company says that they believe these markets companies are not permanent and we remain focused on the long term despite being down nearly 67% year to date and this morning down 17 and a half percent. cowboy base at 60.20. meanwhile the ten-year treasury yield below 3% this morning. that would be a positive for stocks now down 5 and a half basis points and ten-year 2.94%. investors waiting the consumer price index report. all hands right here. economists are predicting year over year rise of 8.1%, belo

. >>> rivian is the other flame we'll watch.from the ipo phil lebeau joins us what would reassure investors. >> some reassuring numbers three things we'll be looking f for. first of all, what is happening with the cash burn reservation was about 83,000 reservations last time we heard. and the production rate. if they don't change any of that, that might provide some relief, but all the ev stocks are getting hit. >>> mike i'm looking at the continued deterioration here there's still a few groups positive, but not as many. and barely material, everything else down, just another drubbing for these tech stocks. >> yeah. basically the biggest names, trillion dollar club is coming under a lot of pressure today, so apple in particular really lose support that it's had for a while. the stock had traded, you know, arguably it's a good thing if investors sort of give up and feel like there's no place to high, at least trying to have a culmination of this process. the breadth of the market is negative, but not as bad as you might think. yo

rivian automotive plunged more than 20% after the stoxx lock up. of restrictions came from -- gave stake holders a chance to sell shares. they will also reduce positions pretty rivian is down almost 90% from its november high. shery: we have breaking news out of china. were getting the latest beijing covid cases coming in at 74 local infections from may 9. shanghai also adding 3014 local covid-19 cases. shanghai's death numbers easing, adding six covid deaths for the past 24 hours. as we continue to watch some of those stocks across japan, we will be watching including sony, of course, they have just reopened partially their shanghai plant on sunday. they will gradually increase output there. we are also watching olympus, offers from carlisle. we do have the market open it sydney, seoul, in tokyo next. this is bloomberg. this is bloomberg ♪ shery: welcome to daybreak asia from new york. haidi: and i'm in sydney. asia's major markets have just open for trade. the dollar sitting at a 2020 high. more than half of experts say lockdowns will hit more of

earnings season, look at this board, rivian, 18%, relief rally , reinstating or reaffirming guidanceo build 25,000 ev's this year. the other big piece of news, who else? elon musk. he is trying to line up even more equity financing so he can do away with the entirety of the margin loan portion of the deal to buy twitter. there could be some relief on paper for tesla but still down .8%. emily: another date, another twist to the elon musk story. i want to talk about apple falling again, behind saudi aramco as the world's most viable company. our guest heads-up a team, so is this a changing of the guard or a momentary blip? >> will, not much is happening if you take a step back and look at it in the perspective of the world i'd look at on a daily basis. it is down 20% from the highs, 17% from the average value of the last 18 months. look at tesla, down. amazon, down 30%. google down 30%. apple on the relative basis is doing quite all right. and there are a lot of reasons for that. they have done very well. they have grown to the last five years, earnings, more than 20%, and they have be

. >> really important, rivian was the first to have a battery electric pickup truck in the u.s., theyespite the money, ford has the scale. the cyber truck from tesla has been is such -- has been a fixation but keeps getting pushed back. for ford, this is bragging rights. ford sells a new goodyear 900,000 units of the f-series. america loves pickups. the electrification story, being able to successfully scale, ramp, and sell electric pickups is big. ever can get that market first also assures brand loyalty. it is just the beginning. alix: you have written in one of these? >> last week, i got behind the wheel in sonoma county. i drove around vineyards, basically. that is me there. look. that is the pro version of the f-150. it looks shiny and cool but it is a no-frills version. my goodness, it is fast, fun, rugged. that is a real photo of me driving around in the dirt. that is on the scene reporting. alix: i've got to be honest, well, that is the back of your head. that counts. thank you. we appreciate the fun story. this is "bloomberg." ♪ anna: welcome back to "bloomberg markets." let'

susan you've got movers let's begin with the electric vehicle. >> ev makers in the news, rivian justng you have ford delivering their first electric f-150 the electric version of a best-selling car in america the past 40 years and that also means ford beat tesla to the punch which won't deliver their first cyber truck until next year at the earliest and rivian also says they will produce 25,000 of their electric pick-ups this year, and that doesn't necessarily guarantee they will get them in customer's hands. meantime you have tesla stock losing over $575 billion in value, hitting an 11-month low on tuesday when it hit 620 recovering of course but the overhang is from the elon musk twitter circus and twitter is up today. there's news silver lake founder is staying on the twitter board despite shareholders voting him out this week because silver lake is entitled to a board seat now dwac, behind trump's truth social, also just announced they are relisting 100 million shares , and finally, i got to talk about this it's a 40 years but yes, top gun 2 is up this week and there's a lot of b

. >>> rivian trying not to fall further. sale

there's a difference between google and apple in peloton, or raytheon -- or the rivians of the world. went you know it's time to buy these large cap growth stocks that we are not going to live without? david: we don't actually look at the individual stocks side, we focus on the sector side. the things we look for is signs of capitulation, moves lower, moves into major support levels that are not confirmed by momentum. also evidence of a peak in the real yield picture, that is a key part of this. our view is we are not there. we think there is more to go. those of the type of things we will be looking at and where they align with the major long-term technical support levels. guy: let's talk about what is happening with the inflation story. depressed mood -- the president will speak later, a lot of people are watching what is happening in the bond markets and trying to judge where we go next. because the bond market is being whipped around just as much. real yields are a focus but tell us what is happening from your perspective in breakevens right now. are we getting to peak inflation?

rivian is down almost 9%. and finally, this, maria.conference in ukraine in a subway shelter turned bomb shelter the. he was joined by his youtube band mate the edge, performing for the ukrainian troops, telling the soldiers we pray you will enjoy peace soon. ukraine president zelenskyy invited them to do the show as a sign of solidarity. maria: i love that bono did that, cheryl. a big shot hollywood lawyer paid off the delinquent taxes of hunter biden, amounting to $2 million. entertainment attorney kevin morris has been footing the bill for biden's lifestyle in los angeles, including rent and living expenses and advising him on art sales as well, as hunter awaits the results of an investigation into his personal finances by a grand jury in delaware. joining me now to talk about that is north carolina he congressman, ted bud, a member of the house financial services committee and candidate for u.s. senate. thank you for being here this morning. we're going to get to hunter biden in a moment. first, have to get your take on the nervous

, so is ford, the news is yesterday ford can get out of the rivian steak so that's what they startedrces on its own electric vehicles at this time but the down 7%. is are they throwing the baby out with the bathwater right now, that is the question the selloff is steep and broad-based. >> you are asking about the s&p it was close to the 3000 handle, came down to 4003 at one point the dow jones is doing better people are going through the blue-ribbon. >> the blue-chip names but industrial and tech in the dow jones industrial getting it the most today. neil: thank you, bring the good news next time. thank you, we are watching the big board with the dow down but it's doing better than the other index, former investment banker and small business author carol roth joined me now, lori did i think that the fed is the culprit, the fact is investors do not believe what powell the head of the fed is saying he could cut inflation without causing recession, what do you think. >> what a mess we have the market and my allergies are in a mess today. >> i think you're right the reality of the market

we also have a earnings after the bell, disney and rivian.orrow we get some more cpi out of russia. and you kg p and earnings in europe as well. plus the g7 and nato foreign ministers meeting in germany. coming up, jean sperling be joining chad -- david westin for "balance of power." that is it for me and guy on television, but we are going to radio. check us out there. this is bloomberg. ♪ >> this is balance of power westin. -- power with david westin. david: from bloomberg world headquarters in your to our television and radio audiences worldwide, welcome to balance of power. we got the numbers we were waiting for, the consumer price index numbers for the united states of america. down a little bit from last month but still way up there. to give us a report on what we saw, we welcome michael mckee, bloomberg's policy correspondent. great to have you here. welcome back from florida. what did we learn? michael: we learned inflation is hanging

speaking of names, after the bell reporting results you have rivian which is trading lower, speaking of evs as well. that's going to do it for "squawk on the street. "techcheck" starts right now. >> good wednesday morning. i'm carl quintanilla with jon fortt. d dei deirdre, what's coming up. >> this event mostly streamed but we're here we're on the ground in mountainview this is where the place where alphabet makes big product announcements, where the company and trends are heading that reverberates throughout the tech community alphabet has lost a fifth of its value. what the giant says is going to matter more than ever. later on i will sit down with ceo himself, sundar pichai i can't wait to bring that to our audience. >> that's going to be key, especially on a day when we're watching faang the latest numbers show hotter-than-expected inflation, the nasdaq down about 35 our next guest asks has the tech bubble finally burst he notes despite the come poise it losing more than a quarter of its value, there could be further to fall. joining us is luke ventures managing partner gene mun