time. fox business will be all over that. charles payne is coming up. he's here now with making money. charles: the major averages tumbling big time today as global elites continue to attempt to ignore the will of citizens in was political turmoil in italy where euro skeptics are the majority. abc is canceling their hit show "roseanne" following her racist tweets. this happened on the same day starbucks closed thousands of its stores to have anti-bias training. here to help break down all of these moving parts, adam shapiro. reporter: lit's talk about what

happened with roseanne. the talent agency fired her as well. one of the top shows on television, renewed by abc. abc put out a statement in which they said roseanne's twitter statement is abhorrent, repugnant and inconsistent with our values, and we have decided to cancel her show. there were several tweets about several people. george soros, chelsea clinton and it was this tweet, muslim brotherhood and planet of the apes had a baby equals valerie

jared. valerie jared who is going to appear on a town hall on a competing network, says she sees this as a moment when everybody can learn. >> we like to look up to our president and feel he reflects the values of our country. but every individual citizen has the responsibility to push back, too. the reverend always taught me people on the inside have to push hard and people on the outside have to listen. reporter: there were other tweets. but that was the one everyone agrees crossinged the line. there were tweets about george soros where she'd called him a nazi who turned in jews to the nazis during the holocaust which is not true. and back and forth with chelsea

clinton. barr tweeted she was married to one of soros' nephews and that's not true. charles: tammy bruce, the independent women's forum's voice, john burnett, and lawrence jones, campus reform editor-in-chief. tammy, let theer me start with you. -- let me start with you. everything was fast. the tweet, the reaction to the tweet, the miss missal by disney. now the -- the dismissal by disney and now the fallout. tammy: what she tweeted was inexplicable and awful.

but jua wanda sykes, key to the comedy, key to the structure, she prior to this said i am leaving. when the people you surrounded yourself with aban down, that becomes a problem. people mention this was roseanne barr's mistake. hundreds of people will lose their jobs now. it brings up a larger cultural conversation you heard in the valerie jared clip. i was amazed she praised al sharpton during this conversation. but should people be destroyed in this conversation? hundreds of jobs lost? but in the world of social media and the nature of comedy -- the tweet wasn't funny. but comedy is obviously something that's not easy.

>> we all know comedians go over the edge. that's what they have always done. however, this is way too far. with respect to abc's actions, it was decisive and quick. that's what we expect from corporate america. charles: juxtapose what's happening at starbucks closing down 8,000 stores today after what went on in one store. >> with respect to starbucks, i think it's a first step. but it's not an end-all, be-all. i would suggest starbucks create focus groups. don't just bring in a consultant to talk to your people then everyone goes back to work. charles: as long as baristas

aren't writing messages on cups. some say this was a wrong move by disney. but a lot of people are saying what about this being applied liberals, bill maher using the n word. and joy behar. and michelle wolf who hit the big scene at the white house correspondents dinner. >> after he was nominated by best friend sarah huckabee sanders tweeted, any democrat who claims to support women's empowerment and our national security but opposes her nomination is a hypocrite. >> that was not a looks-based

joke. that was her personality. >> i have been going back and forth with people on twitter about this. i'm not saying what the left does is right. but i hate it when we on the right say what does the left do. it's like when your parents punish you you say, my friend this this as well. freedom of speech does not negate you from freedom of consequence. she is getting the repercussions of what a private business is doing. i think conservatives jumped the gun when it came to roseanne. we have 10 darn is to have flavor of the month. she was a liberal socialist. that's what she advocated for

the m -- for the majority of her life. but after she launched this show she be the conservative darling. charles there are private businesses are allowed to do what they want. the nfl and their kneeling policy. there is an inconsistency? is this a zowbl standard? bill maher can use the n word and be forgiven because there is an assumption he likes black people. >> i mom is a great barometer on all this. when i called to took you her about roseanne, she says two wrongs don't make a right. we can condemn folks on both sides when they do something wrong. when bill maher used that kind of language, he was rightly condemned by people on both

sides of the political spectrum. what she said not just about valley jared, but attacking the clinton family and being anti-semitic. what abc did today was an important first step. charles: you are all right with bill maher not being fired? >> bill maher took some time off, joy reid did the same thing. joian has a long history of tweeting and saying awful things, as bill maher does, too. but hbo made the decision to keep him on, he has great ratings. and abc despite her great ratings gave her the canada. >> abc knew what they were getting when they hired roseanne. the audience should know, they

saw an opening in the trump era. they felt they could have a show that talked about forgotten man. this was a business decision. this was never about them care being your political philosophy. they knew she was a wildcard. charles: a lot of networks are tying these tweets, they connected the dots back to president trump. tammy: the conversation is important when it comes to with we stand for as individuals. at the same time it's like a template unfolded where it goes back to trump. roseanne barr is roseanne barr. if we want a teachable moment, what they are standing for. i don't know miss barr. saying she does not have liberal protection because she is a trump supporter, where before

she did. i think that is irrelevant at this point as we look at how we move forward and accept culturally at this stage. charles: no one is off limits. remember when the #metoo movement started they were after fox news. but everyone has to clean their own house. charles: i have got a special programming note for you. tomorrow morning starbucks ceo, kevin johnson, joins maria bartiromo right here on fox business. turmoil in europe causing versussors tversus -- causing io hit the sell button. until... we lost it.

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charles: italy's economy wreaking havoc on the european economy after italy's bureaucratically appointed president blocked the euro skeptic government. you warned and talked about this long before anyone else i know. something is going to have to happen here. we saw the establishment rattle the markets with this move today in italy.

but is it going to get any better? >> they can gem out, they can get in. the market will be lock rocked no matter what. but it won't ever be okay until each national country get their act together. that means cut massive government spending, cut red tape. stop redistribution. give freedom back to the labor market. i have never been a fan of the european project. i always predicted it would devolve like this. but the national big government in europe -- and the euro is missing the elephant in the room. charles: i agree with that,

tammy. it's the reason they went on the euro. as it turns out none of them have any fiscal discipline. you have brussels giving marching orders. and there is only one central bank so countries can't print their way out of these circumstances. but the citizens are saying we had our epiphany and the establishment won't let them out. tammy: there is talk of another snap election to try to do it again. the establishments resisting the voice of the voter. at the same time it would be easy to think the euro framework would work because there wouldn't consistent economic rules. you have grease and italy and germany doing their own thing.

so certainly the italian people, and this an -- this is infectious throughout the world. they are watching what's happening in america, you can't dismiss that. what trump is doing is encouraging these people. charles: since brexit the u.k. economy has done extremely well. it hasn't fallen off the cliff. >> we can't compare the u.k. and italy. italy was a basket case all along. the way the u.k. decided to exit is different. but i think it european project, we can blame it on a lot of things and maybe the lack of integration. but i think it went too far. it was fine in 1966 when they

wanted to create the zone were but what happened is when they unified the money. then when were actually we'll do redistribution. there are tons of european subsidies. and they were pushing. and thank god it never happened. tammy: the british have margaret thatch tore thank that they aren't still in the same dynamic. she saw what was going to happen. that's good leadership. charles are you have to wonder where the end game is for all of this as more and more people are saying they don't want any part of this. ladies, thank you both very much. appreciate it. let's talk about the economic impact. at one point today the dow was

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charles: financial stocks dragging on political turmoil. the dow tanking 391 points. distress over the global economy will always get this kind of reaction. keith, we were down on this news but rallied on consumer confidence. but it fell apart when the european market closed.

what do you atribute to? -- what do you attribute it to? >> this was a trade mounted after t markets were closed. u.s. traders were caught flat footed on this one. he weren't selling so much as they were walking away. they weren't buying. could this get worse? it will come down to the european elections. and the euro skeptics may win. charles: they will probably win more in september because the establishment pushing around the people doesn't help. do we have to stay in this state

of flux? >> that's the problem it's a little bit like grease. we have the third -- it's a little bit like greece. we have the highest debt per capita. what is the impact of an italian default or leaving our largest trading block, europe. what will change the election quickly? charles: word coming out from the u.s. treasury department, they think italy would be betterf off if they stayed within the euro trading zone. >> i don't know about that. are they going to default on their debt? what currency are they going to use. what about the len ders in europe. if the european economy slows

down. charles: germany wants to hold this together so we'll see if they step up to the plate. >> you will get down to merkel is lonely. charles: today's session was compelling. financials taking it on the chin. where do you see pockets of resolve and perhaps where people could buy this thing. >> i think we are going to see financials continue to the extent they have derivatives exposure. if you look at big technology, they are companies that got put on sale. you want to go for profit because that's always better alternatives than trying to avoid the losses. >> we have been talking about how there has been an overreaction to the bond

surrogates. that we would be seeing 3.5 to 4 percent for a 10-year. charles: you like the value names particularly on the staples side. some of the costs have gone up and you are not worried about the squeeze? >> we have looked at the largest category killers. the smaller ones, the competition goes by the wayside. charles: north korea says it wants back in and it looks like the summit is back on.

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charles: efforts by the trump administration full swing to save the summit with north korea. a top official heading to new york city to prepare for the talks. president trump tweeting on this sang we have put a great team together for our talks with north korea. talks are taking place regarding summit and more. kim young chol, the new vice

chairman of north korea heading now to new york. and dave chang. dave, i have got to be honest. i never thought the summit was off. i thought even that june 12 date was possible. should our hopes also barrel back a bubble to the top that maybe something historic is going to happen? >> something historic might happen. but it's sort of like the line, it's not over until it's over. there won't be a summit until there is a summit. a lot of folks are hoping for a summit but i wouldn't bet the rent money on it. charles: it seems to me again

over the weekend we see another meeting between the leaders of the korean peninsula at the dmz. it feels like every party involved wants something to happen. >> the momentum is huge. kim young chol is a military commander and personal friend of the kim family. his arrival in the united states means we are getting close to make or break times. kim jong-un wants security guarantees, and the u.s. and our allies want denuclearization. we are not clear on exactly what that means. i would like to see this as not last summit but the first. they will be talking about what the security guarantee means and

denuclearization. charles: is it unreasonable to think we get the framework out of this first meeting and keeps optimism elevated? >> i think dean and rebecca are spot on. this isn't the end game you are talking about. this is a step toward that denuclearization. this an opportunity to define what denuclearization is. how japan and all of the players including the united states define that term. charles: how do you think north korea defines it? >> i think north korea is looking at a flatter term. and the united states is looking at all weapons of mass destruction and the capability into the future. charles: could that also include

irreversible abilities? it's one thing to stall it and put it on hiatus. but can we demand there is no chance they can restart their nuclear ambitions? >> we can demand that. but it will be difficult. north korea has thousands of miles of tunnels. north koreans are very likely to demand as their version of denuclearization to end the u.s. commitment to the security of south korea, which i hope is a non-starter from our point of view. charles: president trump made many overtures about the economics of it all. we know kim jong-un looks at south korea and the bullet trains and all that economic prosperity, that could be yours, too, if you get rid of the

nukes. >> kim said it's not about that. we know he also wants to be seen as a peacemaker. but economics will seal this deal. charles: the ability to promise he'll be safe, i guess that means he won't be overthrown or won't be outside intervention. can we make that promise? >> we need to make that promise. there are possibility that this can happen. charles: meanwhile, today the markets got crushed. but it's not doom and gloom for investors.

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charles: it's a tough session for the market. but we got several message beyond the situation in italy. it goes beyond banks holding italian bonds. italian voters in march gave a major rebuke of a united europe through the collective wisdom of unelected bureaucrats. ironically the top two vote-getting parties are even more popular than they were back then. italy has been a basket case for a long period of time. there has been an epiphany that it has taken a devastating toll.

that said, the establishment on both sides of the atlanta can try to intimidate folks by rolling markets. there is a wave of rolling markets. you have got the dollar strengthening. bond yields plunge. morgan stanley the biggest individual loser. i'm not sure how much of this is warranted and how much exposure they have. but this action is a reminder to american banks they can have great exposure to individuals in this country. remember when the treasury yield was running away? that was back on may 17. today the yields were 2.78. the yield curve and the

requireio between the 10 and two year got to the closest point in two years. i'm not concerned. the u.s. economy is nowhere near recession. there was some come belling action. we saw in the semi conductor stocks, both higher. consumer discretionary. macy's finished higher and kohl's continues to bounce after a reaction to their earnings. some of the staple names were higher today. i understand the general frustration people have with this market. it has to do with things that are speculative and very little with fundamentals. but today's sessions like today can reveal where you want to be

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charles: fallout mounting after certain liberals and the mainstream media came crashing down on president trump after reports that his administration lost 1,500 immigrant children. that report coupled with a picture of immigrant children

flocked a steel cage. but the picture was four years old from the obama administration. so children from the border in steam cages, they thought it was a recent picture. dems must agree to wall and new border protection for good of country. bipartisan bill. on this -- we see it almost weekly, sometimes daily, this urge to portray president trump in such a neglect advertised light. an awful photograph of children in a steam cage, happened during the obama administration faded from view. >> the fake news is pervasive. you see elements of the main stream media tripping over themselves to paint this

administration in a negative light. and in doing so they are caught in their own stories. they are putting up photos of immigrants from the obama era that have no bearing on policies from this administration. likewise with the so call missing migrants. this a lot more to that story. but the media puts it out there because they are desperate to make this administration look as negative as possible. >> we have seen reactions. we have seen the markets with some of these false reports and have seen other things happen. how does this help when they go so far into pushing this. i think if they want to play a role with bipartisan solutions, this would be the new tactic. >> this is bigger than any party system. more so than an immigration

issue. there are 400,000 children are in foster care. not even one should go missing. how do we make sure children are taken care of. charles: the u.s.a. headline was the feds lost 1475 migrant children. some of that i think we'll find they weren't necessarily lost, per se. how do we deal with illegal immigration. americans are saying if a husband and wife robbed a bank they wouldn't allow the children to serve the term with them. >> we know the immigration laws are broken. police a bigger law. a human law. should children ever be put in the face of danger and pecial? and what are the circumstances? at the end of the day children

should never be put in peril. charles: should there be a greater sense of urgency no in washington, d.c. to get this handled once and for all the. >> if we want to talk about kids who came here and most of of them are adults, the daca issue, the democrats had their opportunity to come to the table and solve that and they haven't. instead of sitting down and working with this president, they are playing into this media narrative. these children not mission. they were not in hhs. they weren't in federal government custody. they were in the custody of family members in is a reporting requirement where the government must reach out to the families on where the kids are and some of the families didn't report

back. that was a fake news story. if democrats want to help these kids, come to the table. charles: when would the pressure get on the democrats to make a compromises specially since they lost, they don't have the white house and something has been offered. do you think they will ever say we'll meet in the middle? >> it has to. at the end of the day something needs to happen. the immigration system is broken. we all agree on the principles much children. even on daca. the public opinion wants to see that being fixed as well. the parties need to take the politics aside and come to solutions. the challenge is at the end of the day, we have to take it bigger and there are humanitarian reasons behind

this. >> thank you both have much. president trump preparing fear key fundraiser followed by a big rally in tennessee. we'll have soas those details and a preview ahead. you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance.

charles: at this hour president trump is on the ground in tennessee where the political stakes are very high and climbing. president trump holding a fundraiser for republican senate candidate marsha blackburn. after that president trump will hold one of his hallmark make america great rallies. chris, the stakes are very high. congressman marsha blackburn has

been coming on strongly. she is only three points behind a popular democratic governor in the state. >> this is donald trump at his absolute best. reading about this rally, it's remarkable that the enthusiasm for these rallies has not waned since 2016. there were kids lined up and waiting outdoors in the rain for this rally. there are 10 senate seats in states donald trump won. for him to rally the trump voter that gave his his victory. north dakota were missouri, there are 10 of them. it's a big deal and make a difference in a lot of these

races. charles: when you look at the recent round of voting and primaries. the candidates who want to be part of the solution, they embraced president trump. you have the never trumpers gracefully exiting the stage, and those running forhese seats say we want to follow the president's policies. tammy: this is what they had to do. the president's numbers didn't go down with the attacks, but were increasing. he remained between 49 to 51 percent. this is the race in tennessee to replace bob corker who has not taken a position. charles: can't he say i support the republican nominee? tammy: maybe it will become a bit stronger. but what they need is donald trump going there. tennessee is a great state. it saved us from al gore. they know what they are doing.

his presence there matters. they voted for him for a reason. all these other states, it was the heart of knowing what needs to change in the country, and this kind of race is key to that. charles: it has become clear to republicans, on the local level you have to run candidates to win local elections. we saw that in arkansas and virginia. >> turnout indpleetion these states is an under reported story. patrick morrissey in west virginia, where republican turnout was up substantially in 2014. you saw republicans turn outincrease. in texas democrats had the lowest turnout in their history last tuesday. charles: what about the money

the democrat running against ted cruz is raising, is tt outside money? >> what you see is the texas democrat cannibalizing other democrats. it's jeopardizing their chance to protect their incumbent. but i'm not going to give them advice. charles: tammy, what about the states outside the rest belt? should he play the same role there? tammy: you are dealing with in the election hope for change in donald trump. americans across the board recognize this. the president is governing as a president for everyone. and that's going to make the difference as well. charles: even in states where he's not necessarily popular he

should go to? tammy: absolutely. the president loves the country and he's going to approach everyone i think the same way. charles: you are looking live at nashville, tennessee. marsha blackburn has president trump to help her out. here is lou. lou: our top stories tonight. president trump in deal-making mode, keeping global opponents off balance and putting america first. the white house says the respective summit with kim jong-un could be back on the table as the top north korean enjoy arrives back in the united states to meet with the secretary of state. china threatening new sanctions on $50 billion of imports from china, upping the stakes on trade negotiations by imposing a so-called 301. we have the latest on this