Skip to main content

tv   FBN AM  FOX Business  July 8, 2015 5:00am-6:01am EDT

5:00 am
sandra: breaking news this morning and stock prices plunging china starting a selloff in the u.s. dow futures out within 220 points currently down 161. stocks in shanghai plunging another 6% with almost half the stocks they are now hosted by regulators who are warning that out panic selling. the situation in china overtaking development with greece which is only a few days to work at a dead deal with european creditors. a report from athens and beijing. good morning. i am sandra smith joined by lauren simonetti and nicole petallides it welcome to "fbn: am," the first look at today's
5:01 am
market in the latest breaking news in what to expect that they had. the next remarry day of trading in china this morning. stocks plunging 8% on the day. joining us now in shanghai's business reporter tracey cheney was played in beijing. the reporter for chinese state television. good morning, tracey. reporter: good morning, sandra. china has rippled across regional. nikkei composite dropping after -- 43% of all companies listed on the shanghai stock exchange about 1300 companies halted from trading. they are hoping to sit this out until things calm down a little bit. also a selling frenzy over in hong kong. the hang seng dropped 21 points
5:02 am
although 6% in history as it is caught between the tab problems and admit the americas. japanese shares took a turn to the south about 3% of his stronger exporters. it marked a four-day losing streak and in midday 1.2%. sandra: tracey chan, thank you. joining us on the phone from singapore on what is next for china is jim rogers chairman of rogers holding. thank you for joining us up early this morning in new york. >> i am delighted to be here. it's the end of the day. sandra: perfect. shed some light on what is taught today. some call it panic selling. how would you describe it? >> six the panic selling when you're down 6% in the day with several days in the last three or four weeks. for what it's worth i thought a few sales today.
5:03 am
sandra: are you still bullish on china? >> yes. paragraph and the setbacks in china along the way. america had many setbacks as he rose to power and china well to. sandra: if you want to call it a step back, you've got 40% of the country market capitalization as part of docs being halted. the chinese government trying to stem losses. it doesn't appear to be working. why did they continue measures if it is not having an impact? >> i would not take any measures. it's making a mistake if you ask me. they are making a mistake by trying to do this. there'll be some people who will come by at some point and they'll turn around and have a
5:04 am
nice market. sandra: chinese equities have lost more than $3.5 trillion in less than a month. the money has got to go somewhere else. but the money comes out of china, where will the money go as well? >> everything is going down. the money is coming out of stocks everywhere and commodities. they've got a salad every day can sell them a letter that goes into bombs and a lot of it the u.s. dollar. tree into chan, you and i have typed about commodities every country in many years. for quite some time we see commodities as a whole new arena 14 year low in the midst of the selloff. oil prices getting a lot of attention headed back above $50 a barrel. how low will oil prices go in your opinion? >> they have the big drop in a
5:05 am
big rally. after the rally to have a second test at the bottom. the bottom is in the 40s. and i suspect he would hold that low and then we will go ahead. every time america has problems with their brand, they go back to last summer. it's already started jumping oil last week. sandra: we are going to leave it there. i know you are a guy who does that has responses on this. while we look at the chinese market selloff in here at home, we are down. how much lower to chinese stocks go? >> you should watch fox business
5:06 am
and find out. i don't know. i got orders in view of the market several talks. i am ready to start fighting. sandra: the buyer of chinese stocks at these levels. you've been a believer in china for quite some time to jim rogers, thank you for joining us on the breaking news this morning. here is a lucky u.s. stock stock index futures ahead of the open this morning. as you heard from jim rogers as money comes out of the chinese stock market is find a home somewhere else in the bond market. here it on the job for 154 points in dow futures up the lows of the session. laura and, in light of concerns is to kick out the trading day. lauren: so many u.s. companies exposed to china. economic turmoil is a huge risk. if you start with the chipmakerchipmaker s, qualcomm has half of the revenue.
5:07 am
that's taken a hit in the market. for apple, 17% of the company's overall revenue last year came from china. they recently sold iphones in that company again here in the u.s. you have to remember china is the world's biggest car market and increase the number of car buyers can find purchase this comment even risking their down payment that the current top market rout has raised more than $3 trillion in value. passenger car association met with numbers say china's june car sales have dipped for the first time in two years. you have general motors, volkswagen, slashing their prices to defend their market share. watching all of these companies today and how they are exposed. >> is also the question. i am treating out right now.
5:08 am
jim rogers saying he's the buyer of the stock level. the u.s. investors trying to figure out what it means for investment at home and what exposure we have. nicole: the chinese stocks on our exchange yesterday did 6%. a 6% fall could be a nice time. >> we are also trying to assess the risk we have to grace. time running out to come with a proposal for sweeping reforms to head off a financial collapse. ashley webster file is the latest development for the u.s. our mouth is. good morning, ashley. we have all been watching alexis a 10 speaking moments ago when some riveting things that he had to say, not necessarily moving markets, but definitely played a big part of what is happening over there. reporter: yeah, sandra, he is getting a real earful from very angry european lawmakers.
5:09 am
he spoke in france have now is having to sit down and feel the wrath of other members of the european leaders telling him in no uncertain terms that greece has loaded up until now. companies are fed up paying for grace and he has to basically get its act together otherwise greases out of the european union. let me get out of the shot and take some more shots of the line. the greek bank is a daily occurrence rate out. this is the final deadline. we set it so many times, sometimes sarcastically, but race has to come up with a plan by the end of tomorrow and on sunday the full membership of the e.u., 28 countries, everyone, even those that don't use the euro will have an emergency summit and they will decide whether can expect what reese is offering or greases out of the euro zone. that could trigger a
5:10 am
humanitarian crisis. the banks are already close to collapse if indeed that happens it no emergency funding to prop up the financial system in greece they could go from bad to very very bad very very quickly. we are hearing reports of employees wanted to be paid in cash. there are food shortages although i have to say i've not seen that myself. certainly a sense of fear and offensive things to get out of control very quickly. the humanitarian crisis is an expression used by the e.u. plans in place to address that if it happened next week. five days and counting with the beginning of the dismantling of the e.u. which could have a big impact on the market. trained to ashley, thank you. now let's bring it back home to alcoa kicking off the unofficial start to earning season. nicole has a preview of god.
5:11 am
nicole: that would be a nearly 30% increase for the aluminum producer. revenue expected to come in at $.79 billion. one of the first high-profile names to get out of the cave with investors. pay attention to numbers crossed the wire. we'll start hearing from banks including jpmorgan chase. on tuesday, bank of america when they come the goldman sachs on thursday. also pepsico and walgreens this week. sandra: other breaking news, barclays with the departure of ceo anthony jenkins. the british bank said it decided the company needs a change of leadership. jenkins has been doing since 2012 at the board was not happy with the performance of the investment bank and cost cutting. darkly says the chairman john mcfarlane would take over executive duties until a permanent successor is found.
5:12 am
microsoft breaking news this morning reportedly planning a new round of layoffs. the latest cuts in addition to the 18,000 jobs they announced last year expect it to affect employees at the hardware business including the smartphone unit. the announcement could be made as early as today. the stock is slightly lower in the session. coming up, stocks in china plunge in its regulators they are worn and try to prevent a panic. the u.s. stock index futures down sharply overnight. we will have analysis. when we come back, you are watching "fbn:am," your first look at morning market in breaking news. dow futures up 164. ♪
5:13 am
when broker chris hill stays at laquinta he fires up the free wifi, with a network that's now up to 5 times faster than before! so he can rapidly prepare his presentation. and when he perfects his pitch, do you know what chris can do? and that is my recommendation. let's see if he's ready. he can swim with the sharks! he's ready. la quinta inns & suites take care of you, so you can take care of business. book your next stay at! la quinta!
5:14 am
5:15 am
5:16 am
trained to welcome back. let's get you caught up a global market this morning. the market dropping another 6%. it could've been worse if it had opened down 8%. the market of more than 30% in a month. the other asian markets close asian markets closing to the downside with the the hang seng off nearly 6%. in europe, stock market seems stock market is seeing some strength in the face of this headline coming up in a day. a critical point for greece in u.s. stock market futures pointing to a lower open this morning from asian markets in the selloff. joining us now for reaction in china and u.s. futures as kathleen brooks. she joins us by phone. good morning to you. what do you make of the global market action you see this morning? >> yeah, you put it quite
5:17 am
nicely. it is shrugging off would have been in these days and nights and ultimately we can see u.s. stocks the same. u.s. stocks today especially her a little bit more towards global market concerns and what's going on in china are they think it will come down. if alcoa can pull alcoa can cause the alcoa can cause the debate tonight that could change the whole outlook. sandra: kathleen, why do we see such a divergence? it's interesting to see the u.s. stock index futures that could lower. we have china and greece, but why do we see that the virgins? >> what's going on in china is a massive concern. in europe, people look at it from the sidelines has a lot of domestic fact yours in the stock market. the fact it is dominated by the retail rather than its institutional investor. i think people say what goes on in china is a much less mature
5:18 am
market doesn't necessarily have to infiltrate what happens in europe. nicole: the second-largest economy in the world. kathleen brooks, thank you for joining us this morning. stocks in china plunge another 6% despite rescue efforts by the government. now worried about the panic selling sandra: prevented from continuing. a live report from beijing. u.s. investors not immune to the turmoil. the dow futures down 176. corporate earnings season gets underway today. analysts hoping it can invest left investors spirits. the likely winners and losers. you are watching "fbn:am," your first look at morning market in breaking news. ♪ these two oil rigs look the same.
5:19 am
5:20 am
can you tell what makes them so different? did you hear that sound? of course you didn't. you're not using ge software like the rig on the right. it's listening and learning how to prevent equipment failures, predict maintenance needs, and avoid problems before they happen. you don't even need a cerebral cortex to understand which is better. now, two things that are exactly the same have never been more different. ge software. get connected. get insights. get optimized.
5:21 am
5:22 am
sandra: breaking news this morning. stock prices plunging and china and sparking a selloff there. one here in the u.s. as well. dow futures down 220 points overnight bouncing back just a little bit but still planning to triple digit loss on the open down 180. stocks in shanghai plunging 6% with half of the stocks now halted a regulators morning about panic selling. they do this in an effort to stem losses. the situation of retaking developments with greece that had a few days left to record a debt to record a tattoo with european creditors. live reports from athens and beijing ahead of the weekend deadline. i am sandra smith joined by
5:23 am
transfixing nicole petallides. welcome to "fbn:am," your first look at what is moving in today's market, the latest breaking news and what to expect if they had. an extraordinary day of trading in china gives stocks a percent as they and 6% lower. joining us to explain the wild ride in shanghai, tracey chang light in beijing from a reporter for chinese state television joins us now. reporter: good morning, sandra. chinese stock has rippled across regional markets. nikkei composite dropping 6%. nobody talking about race anymore despite beijing's policy after policy turned a sharp confidence. 43% of all companies listed on the shanghai stock exchange halted from trading. they are hoping things come down a bit. the mainland market also over in hong kong, the hang seng dropped about 2100 points, more than 6%
5:24 am
mark in the biggest single day loss in history as the market is caught between a debt problem many plunging mainland market. japanese stocks took a turn to the south as the nikkei is down more than 3% as the stronger yen for exporters and south korea the cost be marked a four-day losing streak more than 1.2%. sandra: tracey chang, thank you. a look at futures ahead of the opening bell a few hours from now. the economic inserted in china could pose a threat to the u.s. economy. lauren: china sneezes in the u.s. catches calls. that usually what happens. huge risk for many companies that do business there. qualcomm gets half of its revenue from china down sharply in the past year down again in the premarket. a quarter revenue comes through from china firm apple.
5:25 am
that's changing a bit if they speak to a 17% of overall revenue in china and recently sold more isos than in the u.s. situation hitting the car sector. china is the world's biggest auto market and an increasing number of buyers cancel their car purchases. even risking their down payment as a result of everything going on. the car association report in june sales for the first time in two years. this has general motors, volkswagen cutting prices to hold on to market shares. sandra: unbelievable how far-reaching the story is. meanwhile goldman sachs not even worried about it. goldman sachs still bullish with the selloff. sandra: calling for rallies. jim rogers says he was picking at chinese stocks. we see the market dropped 30% since june. imports another composite and texas hold them at 200 day moving average. a key technical point.
5:26 am
goldman sachs said in a china strategist in hong kong predicts that the largest index of fact rather 27% over the next 12 months and a lot of this because of what the government is doing. we talked about monetary easing that will spur growth. the fact receive support measures will boost investor confidence. goldman sachs says this is not a bubble yet. sandra: 40% of the listed companies to stem the losses, the salad can use. because of those measures but don't think there is a bubble. unbelievable story. greece has until sunday to come up with a proposal for sweeping reform. as the deadline set by you is so much as to keep greece from defaulting on the european central bank of dropping out of the euro. greek prime minister alexis tsipras speaking before the parliament moments ago saying they will continue with reform
5:27 am
effort and bring the concrete or oppose those in the next two to three days. but it was going to happen yesterday and they showed up with nothing. caught up on your global market action in europe. the global downward trend with europe stocks to the upside. the sad night of 24 points, cac and dax up across the board as teachers take their cue from the selloff in china. dow futures up 182, s&p 23, nasdaq futures 50. if you travel this summer, you might have to shell out for wi-fi service in your hotel. that's right. normally free, the free wi-fi could become a thing of the past. u.s. investors beginning to worry that an asian contagion? stocks in china plunge another night canadian futures markets here. the dow was up 181. this is "fbn:am," your first look at morning markets in breaking news.
5:28 am
5:29 am
5:30 am
5:31 am
sandra: lots of global stock market action to get you caught up on. selling in shanghai continued overnight. the market dropping 6%.
5:32 am
it could've been worse if it had open down a percent. the market now lost more than 30% in a month. the biggest sellouts at the markets is over two decades. the other major markets closing down in europe. it is completely to the flipside. europe shares are higher this morning. the 79, cac and dax. futures down taking their cue from the sellouts in asia. joining us now for reaction to the selling in china and u.s. features as chris beauchamp, market analyst at ag in london. i will ask you, why are we seen such different market reaction. they've got a huge plunge in china. a selloff at home and in the middle europe's dock sarah. what is happening. >> it does look odd but it's clear the crisis with greece do it give us one last chance before the exit from the year of sound and one could hope maybe
5:33 am
this time greece will finally get serious and make a proposal. sandra: does the selling in china continue? >> it will. the playbook we've seen several times before. we know how well that worked out. they've got a snowball of its own momentum really. that will continue to weigh on u.s. more than anywhere else. sandra: thanks for calling in. more hotels do away with something many travelers take for granted quite frankly they are used to it. go in the hotel on the airplane of free wi-fi. >> no more free wi-fi. more and more hotels are telling customers here's the reason they've lost money from revenue services like phone calls in movies. here's a tip. sign up for loyalty program that usually gets your free wi-fi.
5:34 am
if you bought a wi-fi whatsoever, complete disconnect come and stay at the luxurious village in germany. they will give you access to a kill switch to make it completely inaccessible if you're willing to shell out 1200 bucks a night. sandra: that's nothing. maybe if you've lost a third of your net worth. coming up, stocks plunging in china despite halting trading and about 40% of the listed stocks. the turmoil in china rattling u.s. investors view stock index futures pointing to a triple digit loss on the opening. futures off 176. earnings season kicking off today on wall street analysts hoping earnings will help with the mood of investors. we will tell you, could there be winners, could they be losers? will winners live up to their expect patience? you are watching "fbn:am," your
5:35 am
first look at morning markets in breaking news. ♪ your body was made for better things than the pain, stiffness, and joint damage of moderate to severe rheumatoid arthritis. before you and your rheumatologist decide on a biologic, ask if xeljanz is right for you. xeljanz is a small pill, not an injection or infusion, for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz can relieve ra symptoms and help stop further joint damage.
5:36 am
xeljanz can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers have happened in patients taking xeljanz. don't start xeljanz if you have any infection, unless ok with your doctor. tears in the stomach or intestines, low blood cell counts and higher liver tests and cholesterol levels have happened. your doctor should perform blood tests before you start and while taking xeljanz, and routinely check certain liver tests. tell your doctor if you have been to a region where fungal infections are common, and if you have had tb, hepatitis b or c, or are prone to infections. tell your doctor about all the medicines you take. ♪ one pill, twice daily, xeljanz can reduce ra pain and help stop further joint damage, even without methotrexate. ask your rheumatologist about xeljanz. if you have a business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance,
5:37 am
we're here to help you turn your dream into a reality. start your business today with legalzoom.
5:38 am
sandra: breaking news on this wednesday morning. stock prices plunging and china sparking a selloff in the united states. dow futures up 163 points. points are much lower open on wall street. they have found 220. stocks in shanghai another 20% with the stocks halted by regulators trying to set the losses calling a panic selling. that is what jim rogers at the top of the hour as well. the situation in china overtaking developments with greece which has a few days have to work at a dead deal with european creditors. live reports from athens and beijing. good morning i'm sandra smith joined by lauren eyes. welcome to "fbn:am," your first look at what is missing in
5:39 am
today's markets. the latest breaking news and what to expect that they had. a day of trading in china still watching the fallout there. stocks plunging a percent at the open, and in 6% lower. joining us now to join the wild ride his business trip order tracie cheney was light and beijing. tracey is a reporter for chinese state television. reporter: a bloody picture here in asia. nobody's talking about greece anymore. nikkei composite strap another 6% despite policy after policy trend sure confidence. 42% of all companies listed on the stock exchange, 1300 companies from trading hoping they can sit this one out until things calm down a bit. of course the markets also cause a selling frenzy in hong kong. the hang seng dropped 2100 points over 6%.
5:40 am
the biggest drop in the history market is caught between the greek debt crisis and a slow punching market. in tokyo, japanese stocks return to the south. the nikkei dropped more than 3%. in south korea across the mark a four-day losing streak with a 1.2%. back to you, sandra. sandra: the economic insurgency could pose a threat. lauren is watching here. >> basin is, we catch colds. qualcomm gets half of its revenue from china. for apple's 17% of overall revenue last year came from china. remember, many of us own apple in her 401(k). a drop in the stock truly influences the market. meanwhile the situation hitting the hottest after. the world's biggest auto market
5:41 am
seeing more and more buyers canceling car purchases, even risking down payments as a result because the current stock market broadcast the race within $3 trillion in value. passenger cars is the issue said june sales fail for the first time in two years in two years if we see gm and volkswagen cut their prices to defend their market share. sandra: one inches and aspect as i look away. watching the shanghai composite testing support at the 200 day moving average. our senior editor sending out the know. important to point out a lot of technical watchers and buyers of the market like jim rogers looking for that. something worth pointing out as we watch the selloff continued despite the efforts to stem the losses. time is running out for greece to come up with a proposal for sweeping reforms to head off financial collapse. ashley webster follows the latest development or the u.s. from athens. good morning to you, ashley.
5:42 am
reporter: good morning to you, sandra. when events again stand outside atkins with people trying to get their 60 euros for the day. many people get 50 euros. reports the capital control could bring that down to 20 euros a day. a family for trying to survive would be very tough. however, also following developments at the lively debates of the european parliament going on in france right now. let's take some more pictures of the bank for you. remarkable comments being made towards alexis tsipras, the greek prime minister gave an address to the european parliament today. nigel fromage said the u.k. dependent party this is not just greece we are talking about. the whole of the mediterranean is in the wrong currency. the continent is divided.
5:43 am
a new berlin wall called the euro. we really are seeing the very concept of the european union pulled apart by members of each country's lawmakers sent a part of this big experience experiment that many say is starting to fail and fraying at the edges. by the end of tomorrow that will be decided not by a hero summit on sunday including 28 members of the european union said the european union said if they don't agree to it, greece could very well fall out of the european union. i think it's telling the summit has been casual for sunday, a day that the markets are closed. i think plan b is already in place unless greece comes up with some pretty radical reforms and promises people can believe. that is no easy task especially for germany. things are going to get difficult for the people of greece. talking about a humanitarian crisis. back to you.
5:44 am
sandra: that is absolutely true. as you talk about the markets closed in greece. when starting to ask the question is china going to do the same thing next? china has halted trading in half the shares. are they going to close their stock market following to? greece has been closed for quite some time. thank you for the latest out there. alcoa kicking off the unofficial earnings season today. the poll, you were, you are watching now. >> here is a preview for you. twenty-three cents per share would be a nearly 30% increase from a year ago for the aluminum producer. $5.79 billion. the former dow component was the highest profile names the pacers also investors pay attention to those numbers and across the wires. some of the banks next week including jpmorgan chase, bank of america wednesday, goldman sachs thursday. they alcoa, tomorrow pepsi and
5:45 am
walgreens. some of the projections a little better than the first quarter. the second quarter should see some modest growth. of course once you include energy that wouldn't be as good. to be a drop of 4.5%. energy following a strong u.s. dollars plane into earnings. sandra: must be caught up in the global market action we see this morning. the big story developing has-been europe shares have been hired despite the global selloff. the 79, cac and dax to the upside as they walk into this dead time this weekend for greece. u.s. stock futures taking their cue for china ,-com,-com ma selling off this morning pointing to a much lower rope in. the dow off 176 right now. our clays announcing the departure of its ceo, anthony
5:46 am
jenkins has decided the company needs a change of leadership. jenkins has run the bank since 2012. the report is the board was not happy with the performance of the bank and its cost-cutting. jeremy john on the takeover executive duties until a permanent successor is found. microsoft reportedly planning a new round of layoffs. "the new york times" cuts are in addition to the 18,000 jobs the company announced last year expected to affect employees of the hardware business including the smartphone unit. the announcement could be made as early as today. the stock down premarket. a look at headlines in today's edition of "the wall street journal." jpmorgan for $125 million the bank intends to settle u.s. state and federal authorities over the collection and sale of credit card debt. shall place is huge bad art of oil riches. the company away from taking in
5:47 am
the arctic ocean to find enough oil to justify the huge risk to keep up with every competitor out of the icy waters. energy transfer may go for williams. the partnership will pursue a multi-billion-dollar steel to acquire williams space-bar without the company's cooperation. coming up, setting up for another volatile day of trading as turmoil battles global investors. u.s. stock index futures down 1% overnight. dow, s&p and nasdaq futures are down 1%. this is your first look at morning market and ricky news. ♪
5:48 am
new york state is reinventing by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at
5:49 am
5:50 am
5:51 am
sandra: w-whiskey you caught up in global market action this morning. sewing continues in the equity market and the shanghai dropping another 6%. could've been worse at one point of 3%. the overnight session market is up 30% in just a months time. the other major asian markets close to the downside. europe a different story however. optimism as alexis tsipras says greece will have a proposal in days. deadline coming up this weekend. here at home, u.s. stock market futures acted more to the china story is the selloff continues there. looking at a lower open, triple digit loss down 181. also pay you caught up in oil. oil prices have dropped the last four trading days and $50 a
5:52 am
barrel bouncing back slightly this morning. not much than we've seen in recent days. an inventory report in the morning. gold prices have seen a good effect dignity and all this as well. gold is tightly to the dollar again. turning to sports, sabrina williams will meet maria cheryl pope and the semi finals. williams rallied to beat number 21. sure up of advances with a three set win over american coq au vin the way. a tube and 17 record against williams. the u.s. open champ in today's quarterfinals. in baseball, the yankees had a three to two lead in the sixth inning. billy butler put an end to that with a solo homerun to tie things up. brett lowry had a leadoff home run in the 10th inning giving the athletics a three to four
5:53 am
win. the women's world cup chance going from coast-to-coast. getting friday in new york through the heroes. team u.s.a. was honored with a rally and loss. before you head out the door, let's say you caught up on the wednesday forecast with fox meteorologist for we have only now. >> at morning, sandra. a very messy travel day throughout the day today across many sections of the nation. the massive storm system moving eastward with heavy rain across parts of texas, oklahoma, parts of the planes in areas further raised in the northeast. also seen showers and storms developed today on the move across parts of pennsylvania and upstate new york and expect to see some localized flash flooding not only across parts of the planes of the plains proportions of new england over the past 48 hours we picked up as much as seven inches of rain of across parts of texas.
5:54 am
a number of flash but watch is in effect out there from texas to west virginia. sandra. sandra: maria, thank you. the global market action as we kick off the wednesday morning. before we head over to maria bartiromo. stay right there. the ♪ o? let's see if he's ready. he can swim with the sharks! book your next stay at!
5:55 am
5:56 am
cariand lead tomily membercountless questions, for them and for you. find articles, tips and tools from experts and others who have been in your place. the caregiving resource center at
5:57 am
sandra: the selling continues. yours look your global markets. a drop of 218 points. selling continues with the market dropping 6%. could've been worse i picked it up in a percent. the market down more than 30% in just a month. earlier i spoke with jim rogers on what he thinks is next for china. >> i started today, got court orders and below the market. i'm ready to start dying.
5:58 am
sandra: of the condition markets down across the board at the nikkei up 3%. hang seng following 6% and singapore up 2%. all the meanwhile europe trading higher. lots of anticipation graceful, but the proposal in the next coming days. time now for maria bartiromo on mornings with her bf. maria: but a story you are following. i will see you in an hour. i maria bartiromo. chinese is the story this morning. a sentiment attached to the chinese market but on the trading halt. i look at the damage overnight. the shanghai composite down 220 points. that is 6%. it has been down as much as a percent overnight. u.s. futures reacting right now. expecting a bigger opening for broader averages this morning the sec at the low to the u.s.
5:59 am
in europe takes a cue from china. with the onset is carrie sheffield in the enterprise institute and around cheryl casone. we look at them momentarily. first the heart of the action. adding to the losses of the last three weeks despite ms. byatt regulators to stop the selloff. tracey chang lab in beijing on the ground. talking about more than $3 trillion. wipes out in the last three weeks. >> that's right. that's about 11% to 12% combined for 12 years. a really bloody day here in a shape. china stock crash has rippled across regional markets to the point no one is talking about race anymore. nikkei composite dropped 6% despite policy after policy trying to shore up confidence. let me remind you 42% of all companies on the shanghai stock exchange about 1300 companies
6:00 am
really hoping to sit this one out until things calm down a little bit. the landmark has caused a selling frenzy in hot out at the hang seng dropped 2100 points over 60% to mark her biggest single day drop. over in tokyo, japanese stocks took a turn to the south. the nikkei lost more than 3% as they heard the exporters and south korea the cost they marked a four-day losing streak, losing 1.2%. maria: tracey, but they ask you what is behind this is what the catalyst is. leon of the chinese stock market is up more than 100%. when you look in what the has come from, someone did they come down but obviously a lot of more pronounced than that. what are the behind


info Stream Only

Uploaded by TV Archive on