ross westgate. >> they say westgate. >> westgate. >> westgate. >> westgate. >> and you want me to talk like they do. >> all right. >> hey, ross. wait, real quickly, the spanish yields, is that because we look at greece and we worry that greece is going to drop oust the euro and it's not going to be greece? >> yeah. think it's all part of the same package. we've got spain, they're supposed to be announcing on friday. talking about putting more money back into that sector. obviously we've got post-france. it's a general risk aversion at the moment. so you're getting those record low yields for bunds and gilts. no surprise to see spanish yields rising. it's all in the pot, becky. >> thank you very much. >> andrew -- thanks, aus -- ross. >> come on. it's called a donkey. i don't understand. >> this guy -- >> lugar. >> you think -- you were born in indiana, right? >> yeah. he was there the whole time. >> he almost was there when you were born. >> yeah. >> just missed. >> yeah. >> i think six terms -- >> he's been there 35 years. >> 35. she's -- well, let's call her 35 if you'd like. >> okay

i'm ross westgate. >> and i'm kelly evans and these are your headlightlines around the world. >>> the year owe falls below in a wide selloff in equities. >> after reports suggest the ecb isn't willing to help bail out ban kia. >> they dampen speculation of a massive stimulus package saying beijing doesn't need to intervene on the same scale as 2008. >>> okay. so a warm welcome to the program. you'll see it's pretty hot for equity investors right now. one hour into the trading session, outbeaten by a ratio of 9 to 1. we snap three or four gains. the fears going on with spain right now. on top of that you have the overlay of these comments suggesting china isn't going have any major stimulus policy. ftse down. the contact core rarn down a per cents. the ibex down another 0.8. down over 9% already this month. there will have been none earlier. that is still the case. the weakest utilities. but then basic resources down 1.6%. the dollar index is up at 20-month highs. comments out of china, all of which is adding to a poor outlook as far as quantities are concerned. more indian stanley com

i'm ross westgate. >> and i'm kelly evans. these are your headlines from around the world. >>> spanish stocks the lowest at more than a decade. >> they agree to disagree during their first meeting. >>> plus they drop sharply. the shipping company is warned on its outlook. >>> another day and another size in the size of facebook's ipo. the offering may be 25% bigger as investors can't seem to get enough of facebook's social networking site. >>> all right. two hours of good stuff still to come, but you can see investors are still very nervous this morning. this after falls of another half a percent yesterday. ftse down. a fresh 2,012. nasdaq still up. the cac 40 still fresh. down three-quarters. the ibex down 1.68%. as far as the bund markets are concerned, fresh lower this morning. the gild, we'll bring that up in a minute. we're back over 4% for italian yields for first time and tenure bund yields back down to what we were. no surprise, that's drags the euro down to fresh four-month lows against the dollar. earlier this mornin

i'm kelly evans. >> and i'm ross westgate.he world. >>> european stocks down sharply following asia lower as hopes fade that eu leaders will agree to the block sovereign debt crisis. >>> also spooking investors, comments from former greek prime minister saying the risk of a euro exit is real, but he's told cnbc that no preparations are underway. >>> bank of england policy makers edge closer to another round of qe as retail sales in britain post the biggest drop in more than two years. >>> plus, the world bank cuts its growth forecast for china and says beijing should pursue policies that allow its people just to buy more. >>> you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right. if you're just joining us this morning, let's take a quick check at markets. first a look at u.s. futures, back in the red after a couple of down days, dow jones opening about 50 points low, s&p 500 will be down about eight points, largely keying off what's happened in europe. we started out trading this

firefighters on the scene at saratoga avenue and williams road about a mile north of the westgate malle fire began in the attic of the large two-story building about 10:30 last night. firefighters have had such a hard time ventilating the fire because the building has a metal roof. here's the good news. no one was inside the building when the flames started. firefighters say it does not look like the fire was intentionally set. but there's still no word yet on what caused it. >>> police in the east bay this morning investigating a gruesome discovery. the decomposing body of a woman found inside a trash can in pleasanton. "today in the bay's" christie smith is live at that scene. christie, good morning. >> reporter: good morning to you. absolutely they're shaken up. we're hearing that the autopsy may happen today. but i spoke with the coroner's office this morning and they're telling me even when it's complete that there is a press hold on this case meaning that they won't be releasing information. it'll come from where we are here at the pleasanton police department after a very grueso

. >> and i'm ross westgate. pa syry holding on toits lead. >> shares in bankia are suspended amid reports the lender will ask the spanish government for more than 15 billion euros. >> china launches a complaint at the wto against u.s. anti-subsidy duties that could affect over $7 billion worth of exports. >> and we'll see if the u.s. can buck the trend of closing lower ahead of memorial day. >> we're looking at the dow opening up 3 to 4 points once you take fair value if to account. nasdaq about 2. s&p 500 again slightly flat or potentially to the up side. and the ftse global 300 gives you a sense of how global markets are handing off this morning. up just a little bit. we've been recovering between gains and losses. cac 40 up half a percent and ibex even in the green this morning. plenty of ideas already on where invest is tore investors should consider putting their money. >> not so much in the way of fundamental news to justify it and it's a trade that's worked well so far. >> we're short euro obviously. euro

. >> wasn't that the ross westgate call, too?tion all things being equal, it would take another 10th of a percent off. so revised down and the weakness more than expected driven by the sharpest quarter on quarter construction drop since the first quarter of 2009. q1 revised to a drop, first since the fourth quarter of 2009. so we have confirmed a double dip recession in the uk. sterling getting knocked again against the dollar, now down to 15648. actually might we get more qe to drive the pound lower even without a greek exit? >> i think that the bank of england is considering additional measures and that especially in an environment where inflation has calmed down. so consider where we were accept or eight months ago. at that time inflation was higher and driven by import prices. so that will allow the central bank to act and the currency is a policy tool which it should use. if your local multi-applying process is not working, and it looks very likely that it has been interrupted here. so when you look into the morgan rate, the

good morning, you're watching "worldwide exchange" about ross westgate, i'm jackie deangelis..s. futures. we were looking lower earlier in the morning. seems like we're rebounding a little bit. the dow could be down now by 37 points, the nasdaq slightly higher over the flat line and s&p down by about 3 and change after we saw stocks closing mixed on thursday. investors still cautious over the eurozone, the dow manage to go break a six day losing streak closing up nearly 20 points higher, but of course we got the news out from jpmorgan after the close, focusing on this will during the show. how is it in europe? >> rest of the european stocks after slim gains yesterday, nice to see you by the way, ftse 100 flat, ex-extra dax two-thirds, as we wait for more measures in terms of capital raising for the spanish government. just had the latest gdp growth, forecasting flat this this year. eurozone gdp growth as a whole will contract 0.3% in 2012, so contraction over the whole year and then growth at 1% in 2013. so initial signs of recovery next year, although risks remain from the so

kelly underscore evans or at ross westgate oig. you can share your shouts on where you agree with our guest host this hour about whether europe equities have bottomed at least for now. >> also still to come, why does gold appear to be losing as debt problems worse snn our next guest has tips on how to read bouillon's next move. ♪ why do you whisper, green grass? ♪ [ all ] shh! ♪ why tell the trees what ain't so? ♪ [ male announcer ] dow solutions use vibration reduction technology to help reduce track noise so trains move quieter through urban areas all over the world. together, the elements of science and the human element can solve anything. [ all ] shh! [ male announcer ] solutionism. the new optimism. mcallen, texas. in here, heavy rental equipment in the middle of nowhere, is always headed somewhere. to give it a sense of direction, at&t created a mobile asset solution to protect and track everything. so every piece of equipment knows where it is, how it's doing or where it goes next. ♪ this is the bell on the cat. [ male anno

. >> i'm not ross westgate. he'll hopefully be here tomorrow. leave you with a sliev shot of the port's ka thee dal. ja the dow closes at its highest mark. today's test, the adp employment report. slipping further in into decline. new signs that trouble now seems to be taking root among core members france and germany. >>> plus the social offing facebook set to kick off its road show in what will likely be the largest silicon valley ipo ever. it's tuesday, may 2nd 20urks 12. "squawk box" begins right now.

. >> and ross westgate here in europe. up next, "squawk box" will be up next.have a profitable day. so from jackie and myself, good-bye. we'll be back again same time tomorrow. they have names like idle time books and smash records and on small business saturday they remind a nation of the benefits of shopping small. on just one day, 100 million of us joined a movement... and main street found its might again. and main street found its fight again. and we, the locals, found delight again. that's the power of all of us. that's the power of all of us. that's the membership effect of american express. >>> good morning. disney's earnings beat the street despite the climb at the box office. they take a genome offer directly to shareholders. >>> and in political news a well known u.s. senator is defeated in his party's primary. he's been there 35 years. indiana rupp richard lugar forced out by a tea party-backed opponent. wednesday, may 9th. "squawk box" begins right now. zbroopd morning, everybody. we

we'll talk to ross westgate standing by in london morning. ross, this is what everybody is talking about, i'm sure. >> absolutely particularly as it's just another bit of trading that's taken place will london. so we seem to create units for it over here. and bank stocks are weaker across the board in terms of advances v decliners, around about 3:2 today as we have slim losses after slim gains yesterday. ftse 100 up about a quarter of a percent yesterday. today we take a look down about a quarter of a percent. cac 40 down 0.4%. ftse mib is up heights slightly. have a fairly good t-bill auction. bid to cover ratios up. and yields down. but the bank reaction here to jpmorgan, in frankfurt is currently down 6%. was down 7.5% earlier. so just bounced off of the lows that we've seen. some of the other bank, barclays and lehman down 2%, credit suisse down 1%. pbp down about 1.3%. back to you. >> ross, thank you very much. we'll talk to you again soon. when we come back, we have two huge corporate controversies. one about whether yahoo! ceo lied abo