Page 2 - Big Correction News Today

Better so we are an island of stability, and sometimes that can flip and we can get dragged down. >> yeah, i am really interested to see how much affect a fall in the market, which a lot of people have a lot of money in the market right now, how will that affect the real economy. some people think if you see a big correction, it could affect consumer spending. >> on the issue of trade, this is a great point, investors are watching every day what is happening between the negotiations between trum...

Hes right. we have gary here with us, politic political commentator and jonas. its usually risky for a president to align himself to the markets. this president was welcoming this correction. the first time hes referred to it. what did you make of it? >> look, i like the fact that he talked about a correction. because all hes been talking about is a market going up, up, up. >> neil: who knew that he was looking forward to one? >> thats the only worry. hes the head honcho, big cheese. he does hav...

>> the stock market, i just see, with all of the ups and downs since election day is up 37% from -- 37%. now, it did a little bit of a correction. in fact, i started to say, you know, i was in it for 13, 14 months from election. i say, is this going down a little bit? its embarrassing. it was up 100, 1,000, up 90, up 63. i said goodness, thats better. we have seven years to go, folks. we have a long time to go. >> neil: i dont know if he ever said its better. that was a pretty crazy correction. ...

Now. we didnt need to throw kerosene on an economy that was actually growing pretty well. thats the sort of attack on the trump policies that you hear. and i think that there is some validity to that. we have been at the end of a long recovery cycle. it doesnt feel like it for most of us, but weve been in a recovery since 2009 if you can believe it. so its natural that things should have been slowing down. but of course republicans want to get through the midterms, theyre already starting to tal...

With it but of course we have incredibly polarized politics right now. >> i want to bring in our richard quest who is joining us right now. richard, as you see these numbers down 4.22% off the high, what do you make of it? >> well, add i said the best part of an hour ago, anderson, im not surprised. were in that tricky part of the day where the market closes its po books within that last hour or so. so that there was acceleration in the selling is not a surprise. we are overall and we need to pu...

Wealthier when the market goes up and that has an impact on our spending, right? youre willing to go out and unzip your wallet if you feel like, hey, my stock portfolio is doing really well so those two things really are connected. its going to be interesting to see as the market goes down how much real impact that has on peoples behavior. >> i want to bring in also claire sebastian who is live at the stock exchange. claire, im wondering what the reaction is there? >> yeah, anderson. we did hear...

Money into the economy. a lot of people think thats a band-aid over problems. its kind of like the tide. as warren buffett once told me, when it pulls out, you see whos been swimming without their shorts on. i suspect that if we get a more serious correction, well see exactly that. >> so youve got on the macro prudential side, yes, things are considerably better. there are a lot better buffers, all these sort of things. however, however, if you look at the debt levels and the rising debt levels,...

But prices -- people are always talking. as long as i can remember and rana probably would agree, people are either sagely saying, well, p ratios are very high and then pe ratios are very low. the reality is it depends on the sector and it depends on the point of the cycle that that sector is. so some like amazon will be at one end, ford will be at the other. >> yeah, i agree with that. id be looking particularly at the tech sector, at the financial sector. some of those have really driven the m...

Joining me now is hogan gidley. hogan, thanks for taking the time. i want to start with the markets. the president has been speaking in ohio through this market, i dont know if you want to call it a correction or a plunge. im wondering has the president seen it yet? whats his reaction? >> well, i havent spoken with him directly about that obviously. hes on his way back to the white house. but i can say the overall economy obviously is very strong. weve seen trillions and trillions of dollars of ...

On wall street. is anyone at the white house concerned that now hes going to be held responsible if there is a correction? >> no, because still its overall -- overall in a very strong place and its exorbitantly higher than when he took office. you did talk about the real economy. i did hear the previous guest and theyre right. the president this is a place where this company, they were giving their employees thousand dollar bonuses, wage increases. weve seen 3.5 million americans receive bone us...