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at least in some cases, by some retailers, so steve madden is down b about 3% or so and this is after shedding 9% thursday. that makes sense because 94% of its u.s. sold goods are made in china. but that's not necessarily the case for all retail. so thursday's wide and deep sell off was a little overdone for some names for instance, levi has said total annual china imports are less than 8% of its u.s. imports and that stock was moving lower. the impactsligib negligible abercrombie sold up sharp ly, sh up about 6%. fdr said it could shift more production into the non china factories it uses, so it's making up ground coach and kate spade parent company tapestry sources about 17% of its goods from china, but less than 5% of its handbags and shares are up about 1% today so maybe some cool er heads are prevailing >> we'll ask thank you. our next guest says the additional tariffs won't be catastrophic, but it's saying retailers could see a disruption since the holiday season is just around the corner. jerry is former hudson's based ceo. there was somie panic yesterday. was it unjustified or

best buy and steve madden was hit hard i was surprised that investors took this much more severely thanhat you're describing, which would suggest what exactly. i mean, what does that tell you? is it just this mindset of caution? is it a sense that there might be worse yet to come, or are we all not understanding why this could be a bigger problem? >> well, i do think there could be worse yet to come i think there's a dividing line in chinese retaliation that we might be getting close to. the chinese have largely left u.s. firms who operate in china alone. of course they try to steal their intellectual property. but there hasn't been explicit retaliation against those firms. if we were to go at some point to 25% on all chinese goods, the chinese have nothing material to do on u.s. trading because it's so small they have to act against u.s. firms. that creates a lot of uncertainty for some big-hitters in the nasdaq. i think that risk is what's weighing the market down >> and i'm sure you heard what kayla just said. but the executive she spoke with, we are starting to speculate what those

shoe seller steve madden shares lost more than 9%. nearly all othe products it sells in the u.s. made in china. but even retailers and brands with lower exposure to chinese manufacturing liketapestry, the owner of coach and kate spade an copry holdings when owns michael coarse and jmy choo, sold off on the news. for "nightly business report", i'm courtne agan. >>> investors were not expecting to start august this way, and if history is any guide it could become trickier to navigate. bob pisani is at the new york stock exchange. th talk about a tough setup for august. market sold off today on a string of twreets from president trump signaling more tariffs are coming next month. even before today's move history has notke l kindly on august. it is the worst month for the dow and s&p since 1987. the s&p might be up 20%, but earnings are flat, making stocks lookig expensive now. trade tensions are oiously ratcheting up. there's little cla oty the global growth story in general, and a federal reserve chair jay powell made clear at his press conference yesterday, future rate cuts from t

from china directly then as you look across outside of athletic footwear, it's companies like steve madden and g 3 which have f a disproportionate amount of production 63% in china >> let's talk foot locker. earnings were disappointing, but it's another leg lower based on the trade wars and i'm wondering how much of this is the terrible quarter. how much of this is the trade war and is this is this warranted? 17% decline in one day >> sure. so i do think the majority of their decline today is much more on some of the structural challenges of their business when you look at what's happen ng the ath lletic market overal it's really healthy market just r more and more of the trend rs happening and the transactions are happening on dtc. so vendors like nike that have f really strong -- correct and so have strong online businesses i think at the core, that's what's driving the majority of the decline. also the teariffs don't help chi think that's 4% incremental risk numbers. >> you've got a hold on this cut the price target down to 33. now trading at 34.86 why not put a sell on it is. >> it's a

steve madden lost nearly 9%. nearly all of the products it sells in the u.s. are made in china. a name analysts are watching closely gap inc. shed 8% it has only 20% exposure sourcing to china, but since it sells its own goods there are no vendors to split the cost with like tapestry, the owner of coach and kate spade, michael coarse and jimmy choo, those names sold off the retailers have been working on diversifying their supply chains outside of china for years, accelerating those plans when they can in recent months, but china is still the number one country where u.s.-sold apparel and footwear is made near 40% of u.s. apparel and 70% of footwear was made in china last year. retailers are waiting to speak on this issue. the national retail federation saying in part, quote, these additional tariffs will only threaten u.s. jobs and raise costs for american families on everyday goods, and the tariffs imposed over the past year haven't worked scott. >> yep, courtney thank you very much for that how do you want to play this >> so courtney just said -- >> destroyed. >> courtney sai

jill is the one they identified with the biggest risk, then steve madden and skechers carters, gap inc., urban outfitters are also names they could be in trouble because of the china manufacturing exposure, and each manufactures the majority of their own goods. they don't have another partner to help absorb the higher cost nike, adidas, lululemon, under armour, those names actually could be less exposed because of a couple things. number one, they have a global revenue stream they have diversified sourcing high margins, and a little bit more pricing power than other names. then you have the off pricers, tjx, ross stores, burlington, they're more insulated too because a smaller percentage of their goods they sell are bought directly from china and they have a strong negotiating leverage relationship with a lot of those suppliers because that actually has been a strong part of retail as of late tyler. >> thank you very much courtney reagan. >> apple, one of the big trade war victims today. those shares getting crushed they're down 5% or so right now. as you see there 5.5% roughly the sto

steve madden said, we are planning on raising prices on our shoes and handbags to deal with the situation: scarlet: bloomberg retailer -- scarlet: bloomberg retail reporter jordan -- jordyn holman, thank you so much. the rally in chancery's continues, this is -- treasuries continues, this is bloomberg. ♪ bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i literally say 'ah'. experience deeper rest with the award-winning leesa mattress. this bed hugs my body. i'm now a morning person. the leesa mattress is designed for every body. providing strong support, pressure relief and optimized airflow to keep you cool. hello bed of my dreams. order online, we'll build it, box it and ship it to your door - so you can try the leesa mattress at home. love it, or get a full refund. and rest assured, returns are free and easy. i love my leesa. today is gonna be great. find out why so many people love the leesa mattress, then try it in your own home. order now to get big savings - but only for a limited time. just go to leesa.com today. you need this bed. mark:

sold apparel and footwear is made steve madden manufacturers nearly all of its products in china, shares down 10% g-iii has more than 60% pro china. those shares down 9% even retailers with low china manufacturing exposure like capri and tapestry, baby out with the bath water. these additional tariffs will only threaten u.s. jobs and raise costs for american families on everyday goods and that tariffs imposed over the past year haven't worked wilf, back to you. >> last earnings season weep got a real taste of this because all of the executives were required to spell out by analysts and investors what their exposure is, what the impact on the consumer i remember it wasn't pretty. >> but then in some cases it was a little bit surprising as far as the exposure from the cost of goods sold as i mentioned many retailers have been working to diversify the supply chains and move things out of china. so home depot, for instance, did sell categories that have been exposed to some of these tariffs already in place they said, look, it's like 1% of sales. it's not that big of a deal. we have levers t

hillary clinton did the same thing when steve madden joined the campaign and there were a lot of conversationswhether or not that was too strong. in retrospect, it seems like we were probably not strong enough. on the fact that donald trump has clear associations with white nationalists and saying things that's very close to what some of them are saying. they hear the message. i think that that's the key. it's not that you and i in a studio can look at the words and say, okay, this is white nationalist rhetoric. if the white nationalists, themselves, are saying i hear what donald trump is saying and he's speaking my language, we should pay attention to that, too. >> zerlina maxwell and donna edwards, you both know your way around these campaigns and big debate night. really appreciate you being part of our coverage. >> thank you. >> absolutely. now, we have a lot of analysis and more reporting fresh from tonight's debate. msnbc has live coverage going all the way until 2:00 a.m. eastern. settle in. up next, big deadline. stay with us. stay with us and you should be mad at simple things that ar

we had tw reporters out there last night watching the scene up, steve's pulling madden showing up inonvertible, lots of designer clothes all over the place, and then there is kamala harris with his great comment, i believe in capitalism. david: she must. same time, not all the candidates were mentioned. i didn't see elizabeth warren, bernie sanders. is that a coincidence? >> not at all. they are deliberately missing in the primary season on small dollar funding, using different sites to collect small dollar donors. elizabeth warren is doing fairly well, bernie sanders is, too, from his leftover popularity in 2016. warren,h is, elizabeth if she is the democratic nominee, will start to raise money the way that others are now. she does not want to unilaterally disarm. david: they are all up against donald trump, how is he doing? 0 ok. the polls are showing more weakness as we move on. he said his biggest selling point is the economy. with these warning signs going off that the economy may go south before the election, that could leave him extremely vulnerable. there was a fox news poll

start realizing, wait a minute, it doesn't make sense to sell off walmart as much as selling off a steve maddenariff risk is very different for those two names. >> all right we will watch it interesting that they are still above some of the key levels in may. when we come back, how the recent ipos are being hit by the market volatility. will that impact those still in the pipeline some names we are going to away much more "squawk on the street" when we come back don't go away. we switched from ford. i switched from ram. i switched to chevy. we switched to chevy. we switched to chevy. for dependability. for these guys. and just look at it. we switched to chevy. see for yourself why people are switching at the chevy all-star open house. get 20% below msrp on all 2019 silverado double cab pickups that's over $9,750 on this silverado. find new roads at your local chevy dealer. >>> welcome back everyone. here's your cnbc news update at this hour. hong kong's airport will restart flights at 6:00 a.m. local time on tuesday this after thousands of pro-democracy protesters holding signs crowded the main

steve madden, name on many analysts' list, as particularly heart hit on shoes nearly all of the u.s.na. department stores no longer spared macy's has a pricing category by category when looking at evaluating what to do. they are going to hold prices on products that are more elastic and raise them on others plus, it could also possibly split those higher costs with some of the vendors, which is something retailers like gap, inc. can't do because they make most of what they sell there is no one else to negotiate with unless it's the factory directly. >> are there stand outs that you can think of that have shifted production away from china that are insulated? >> there are so tapestry, which is a parent company of a coach and kate spade, they have been working for years on moving production out of china even yesterday those names were hit. i want to watch the pricing action today to see if some cooler heads prevail when we start to pay attention and wonder, wait a minute, is this name going to get hit? >> thank you. >> yes. >>> staying with retail, joined by former walmart ceo bill sim

retailers with a decent amount of chinese manufacturing that are under pressure today include steve maddennd g-iii and then you think about the retailers that actually generate revenue in china by selling to chinese consumers. nike produces just about 10% of its goods in china but generates 16% of its total sales there other retailers that count on revenues from china include tiffany, tapestry, walmart, abercrombie and others but those are the names with a higher percentage of revenues from china tariffs can hurt really bad there, as well >> thank you very much we are now at new session lows dow did get down below 609 200 points or more above the lows from last week but still session lows today that was the low for august last week down about 25 let's get to seema mody for more on the industrials. >> i want to share new commentary of stevens tracking the industrials saying for caterpillar a key bellwether, 5% to 10% of revenues exposed to china on an indirect basis the mining business is heavily exposed. cat generates roughly 25% of rove knew from the resources industry business which is l

jill, the biggest rick, steve madden followed by sketchers >> action in the retailers, continue follow through from the negative tweet. >> there was >> and it is -- it is already a weak group not like this came -- more an exacerbating factor there. this has been a rule for the tariffs in general it is mostly been in industries that have been under pressure anyway steel or something else. manufactures that don't have that much scale. >> well, after a wild day for stocks, worst of the year, we have much more coming up on "closing bell. >>> the china trade war takes a turn >> china letting its currency move like it did today, that's a sign they may be stealing themselves for a longer conflict. >> stocks plummet. >> investors worrying about the u.s./china trade war. >> what should investors do now? top ragystteiveists give us ther playbook ♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. >>> worst day of the year for stocks, escalating

you shouldmaker steve madden lost nearly 9% nearly all the product it makes is made in china gap incls its own goods, and there are no vendors to absorb the costs. they fell 8% even coach and michael kors sold off as well. many retailers have been working on diversifying supply chains out of china for years, but more u.s. apparel and footwear is made there than anywhere else. the issue with investors, they want to wait for earnings. but in a statement colombia's sports wear ceo calls the tariffs a disaster for the american economy, employers and consumers saying his company and others will be forced to raise prices and let's not tank the economy with the misguided conception that trade wars are fun. >> all right let's talk more and continue the conversation on the impacted of tariffs on retail. let's bring in liz dunn, founder and ceo of pro forma i was looking at the averages thinking, okay, couple percent yesterday. only 45% points today. then i look at oil, best buy, look at 1.85 on the ten-year, there's serious moves, reactions to this. stocks are holding up well, actually we are

retailers with a decent percentage of chinese manufacturing under pressure of late steve madden, g3, brands that count on sales in mainland china, retaliatory tariffs make those items more expensive. 16% of nike and tiffany sales are generated out of china 13% for estee lauder and 10% for walmart. joe? >> courtney, thanks. for more on the u.s./china trade fight, let's bring in our guest melanie heart director of china policy and anna ashton with the u.s./china business council. melanie, where do you stand? i hear the same thing from a lot of people that maybe come from your side of things, and that is that, yeah, china has done some things in the past but we should be addressing it through tpp or addressing it through our allies and we're doing it the wrong way. but then again you have schumer saying stay tough. where are you on this, melanie >> look, we can be tough with china without holding a gun to our own heads and forcing american consumers to pay, american households to pay up to $1,000 a year to cover these trump tariffs. we can be tough standing together with other countries

steve liesman. stocks are now taking their cue from the bond market bob pisani is at the new york stock exchange bob. >> it's maddening. been happening all month mixeded market in the middle of the day. stocks continue to move in the direction of bond yield, which has been down today, but we're off our lows moved down after 10:00 a.m. eastern time likely a very important part of that decline the market weakened shortly after the open after the august pmi report showed that manufacturing activity was weak in august, it was below 50 indicating traction. lowest level in ten years, but also the services sector was weaker than anticipated. next major market mover, fed chair jay powell many fear are not going to be signalling an aggressive rate cut psy cycle, although everyone believes at least one other rate cut is coming in september and you can see here that markets have rallied in the middle of it have day, but the rally is now moving sideways slightly down as we have seen the ten-year yield group move again. it's a 1.60 on there and looks flat compared to the two year. >> thank you very much >> so can the markets rally