simon derrick, you are reminding me what dollar-yen did under bill clinton. n: the great thing discussed in the currency market is the second half of this year and the fact that this could well be the most politicized presidential race in a long time as far as currencies. to talk about hillary clinton or bill clinton, i would point out the 1992 campaign, immediately after that he started on a fairly successful campaign. that combined with easy monetary policy. he was all about japan manipulates currency. , onlys race coming up talking about trying to win over those disenfranchised blue-collar workers? japan, i think actually we could see a lot more of this stuff come back out between now and november. tom: megan murphy will join us later as we talk about bloomberg politics. this afternoon at 5:00 p.m., "with all due respect," mark halperin and john heilemann will continue the derby forward. ♪ get ready for the rio olympic games by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your

simon derrick. thank you so much for joining us. and what an extraordinary 12 hours it's been. >> and an extraordinary next 12 hours as the markets react. let's show you where we are after what's been quite the dramatic overnight session here in london. the dow futures indicated to open lower by 500 points. believe it or not that is not the worst levels of the session. at one point futures were down about 700 points. we've come off the lows. the s&p 500 futures were down as much as 5% earlier this morning. again, the gut reaction selling out of stocks. buying treasuries. the 10 year treasury note hit 140 overnight. we've come back from there. we're in the 150s so a little relief but still the gut is negative across markets we wait for central banks we wait for company reactions and of course we wait for the political response. >> indeed. we certainly do. sterling of course hit a 30 year low at 132. back up to 138. european equity market down sharply. continue nebl europe down more than the uk. that is it for "worldwide exchange" spe