joel: i am joel weisberg. alix: u.s. stocks joined the global selloff. joe: the question is "what'd you miss." china's growth is slowing. alix: the market must beg for the fed to raise rates. if so, when? joe: banks decide how much money to lend. alix: the dow is off by 185 points. we were down almost 300 points at one point. the dow is moving triple digits for the 19th time. joe: that is incredible. a really ugly day all around. volkswagen, which we will talk about. everything spread everywhere, the futures dropping and never recovered. alix: it's not just volkswagen. it spread to the auto suppliers. i charted them. this comes from bank of america, the worst four. they get 17% of the revenue from volkswagen. i'm going to zoom in here. it's really cool. i can't do it. you can see that decline. joe: people selling off all kinds of stuff. volkswagen bonds, blue-chip company, you don't expect to see much volatility. the bonds have been very stable, and you can see in this chart. just a cliff. people selling everything. alix: i have something that you might

teddy weisberg, lori? >> you said it, dave, you're not kidding. sets me up perfectly for the first question. of all the storms and volatility and crashes and corrections, where does this one stack up? how are we going to get out of it, if we will at all? >> i don't think we're quite in the storm yet. we're in the squall stage. listen, things are changed, lori. we keep talking about it. noned likes it when stocks go down, we like when it goes up for the obvious reasons and we're spoiled because we've been living in a positive bubble for five or six years. >> right. >> is this healthy correction? healthy consolidation? you don't seem all that nervous, but you're always calm, cool and collected. >> i'm not nervous because you can't survive in this business without keeping a healthy eye on the exit and have a seat when the music stop, inevitably the music will stop, and it stops when you don't want it to, always. stocks are going to do what they want to do. nothing rational about the stock market. i'm sure before this is over, it will get overdone on

joel: i am joel weisberg. alix: u.s. stocks joined the global selloff.question is "what'd you miss." china's growth is slowing. alix: the market must beg for the fed to raise rates. if so, when?

teddy weisberg, from seaport securities. we were calling it the cavuto rally that held into the close. >> exactly. >> you almost get numb to huge swings people around here talk about boring day. boring day? it was up 300 points. >> we never get numb on the up days. we only get numb to the down days. they are actually painful. >> there is place down the street that helps that. >> that's true but not enough booze sometimes to help the numbness go away. >> what happened today. >> i don't know what changed between yesterday and today. connell, don't forget we're still down from over 2,000 point from the trading highs. >> right. >> it is still pretty healthy correction. i'm not sure anything changed in the backdrop. maybe good news china apparently on vacation for couple days. >> that's right. get rid of them. >> just like when congress goes on say ages, we don't have problems -- vacation. >> you are comparing chinese to congress. >> no no. >> only because it is true we've been playing off the market in china. that didn't really

teddy weisberg, one of our favorite traders here. 47 minutes before the closing bell rings. it's a little bit of the gain for the dow jones industrials, now at 75 points. again, all of that really does take a backseat when we think about the firms inside the world trade center, because if your firm made it, that meant it was in the world trade center because those were two symbols of real success. well, one of the firms that was hardest hit on 9/11 was run by a man named howard lutnick. and as we wait for howard to join us in just a few minutes, i want you to be there to hear his story of fighting back and real success. we will look at ground zero today and remember that they can't keep us down. ♪ ♪ liz: welcome back. we're about 43 minutes before the closing bell rings, and we're here on the floor of the new york stock exchange remembering what happened 14 years ago. as you look at the freedom tower which has been built right there at ground zero and is now open, it truly is a symbol of resilience. but we do never want to forget what happened, and 14 years ago i mentioned b

david: teddy weisberg coming up with liz in a moment.t ready to vote on iran the country's supreme leader prepares to cash in. just how big and directly there in iran. we have details. david: the money is going right into the ayatollah's hands. not just trump is rising. dr. ben carson is with him up in the polls. how much longer than two outsiders climb in the polls while snubbing the establishment? we'll talk about that coming up. >>> first the dow is up triple digits. lost a little steam in last couple minutes of trading. still on the plus side. [closing bell ringing] major averages are on track to finish highest level since august as closing bells sound on wall street. dow jones industrial average was up as high as 273 points. is now down to, 230, i don't want to say down, nothing down to 230 points rise on the dow. looking forward to the big meeting on thursday. only thing you see in the red there is gold, melissa. melissa: this is look where we are on the close. 229 on the dow. nasdaq trading higher. p

teddy weisberg on floor of nyse and steve holland with me as well. teddy, this is a market we said all along is very dependent on the federal reserve. effectively that suggest bar high they kept going. they basically indicated they will keep it going for the foreseeable future. yet you have a market that's nervous, that's selling off. what is really troubling people here? >> think one of the problems, and it is not new news to anybody, that the fed still appears to be trapped between a rock and hard place. i'm not sure they know what to do. one things markets do not like is uncertainty. i think a lot of folks were primed to see the fed bump rates up at the last meeting. i think there was a lot of disappointment when they didn't do it no matter what the reasons. now we have a whole new set of pa rammers it. they're worried about china, they're worried about this and they're worried about that you know what? they can all worry about things until they're in never-never land. trish: the market keeps going down and the fed worries and everybody else worri

. -- new york stocks exchange and teddy weisberg. >> doesn't mean there isn't smoke coming out of the chimney doesn't mean the fire is not burning. >> really? i'll remember that. >> talk about trading action, all people see, they see great numbers on bottom. volume was less than expected. maybe i'm thinking in part. because some volume going two days when people get clarity on fed and triple-witching on friday. >> i, no question the volume was light. i think we came in today, yesterday i spoke to some pretty smart people. they said the market is way oversold. they saw rally coming. they clearly were right. they think is a little more juice on the up side. a lot of people got bearish, myself included oversold. it could be technical. as we get into the fed meeting everything will flatten out. the fed, as previous guest said, they're between a rock and hard place. dammed in if he do, damned if they don't. if you're in hard place, best thing to do is do nothing. >> how will the market respond if the fed stands pat and doesn't tighten. >> some people think they have no choice. for credibil

another floor show, bonus coverage, teddy weisberg at the new york stock exchange, he's with me on the floor of the exchange. the dean of things here in new york. maybe calm us all down. trent wagner with us at the cme. like groundhog day, could be an ugly close, right? >> 30 minutes to go and trading at the lows of the day. we could be fools on the upside but my guess is you ain't going to keep them pinned down. >> it's not like we're rallying into positive territory. glad we have me down here today. what is your thoughts on this, seems things are getting worse not better as we get closer to the stock market close. >> on the session, we're trading at lose. volatility in general is something that traders if you want to be a part of the markets in the near-term, you have to be used to. it's the first correction any of note that we've had since we've had the central bank policies implemented on a global scale this accommodative. what it does in a correction is it's hard to get through the price discovery process and find a bottom as it is. traders try to navigate between these accommodat

teddy weisberg on floor of nyse and steve holland with me as well.is is a market we said all along is very dependent on