Shocking news, an outspoken founder leaving the company. And beta bearing down on the gulf coast as they brace for another storm. This is Worldwide Exchange right here on cnbc good morning, good afternoon and good evening thank you for joining us to start your week and lets get a check on your monday money and its looking like the sell off we have seen recently. Its early but stock futures are down 500 on the dow. Nearly 200 on the nasdaq theres a ton of news out there today. Well get to all of it in a moment but theres two big and important things happening that you have to Pay Attention to right now. Number one, the s p 500 has fallen three weeks in a rowand it just flows below its 50 Day Moving Average for the First Time Since april two, the biggest stocks are beginning to underperform. Some of them meaningfully. Take a look at these the s p 500 dropped 5 this month. But the biggest tech names, names that you know, theyre down 11, 12, 13 apple, down 19 in the month of september. Remember those stocks that were showing you and a couple of others, they are about 40 of the entire market weight two big things to watch. Selling around the world continuing in europe lets start though with asia japan was closed for a holiday so tomorrow could be a wild open Chinese Markets down across the board in europe just getting warmed up. Or i should maybe say cooled off. They are in the red as well. Lead lower by the bank stocks. Money laundering, alleged fraud and activity by criminals setting Deutsche Bank down 5 and 6 in the european markets right now. In the meantime, breaking news here at home on electric and Hydrogen Vehicle maker not being tesla. Contessa has that and more of your head lines. Good monday to you. A big change in leadership at nikola the electric vehicles maker says its founder is stepping down as executive chairman effective immediately. Board member and former gm vice chairman will take his place as chairman both the Justice Department and the sec. And Business Practices and technology and you can see now look at that stock is off by almost 24 financials also front and center after a trove of Bank Documents reviewed by nbc news and reuters and others moving large banks of funds over a period of 20 years. Despite red flags over the origins of the money and the most are hsbc, jp morgan chase, Deutsche Bank, Standard Charter and bank of new york melon and you can see how those stocks are performing in extended hours among the types of transactions highlighted by the documents, funds processed by jp morgan for potentially corrupt individuals and companies in venezuela, ukraine and money from a pansi scheme and money linked to a ukrainian billionaire processed by Deutsche Bank and President Trump says he has agreed in concept to a deal where tik tok will partner with oracle and walmart to become a u. S. Company. Delaying the ban that was supposed to go into effect last night. Still current tik tok parent and byte dance maintained it will own an 80 stake tweeting out this message adding that the company is just getting started. They added a couple of really fun dance moves just to period ka it off. The major index coming off the first three week losing session of the year. Futures right now they are solidly in the red and chief investment officers and he joins us then just showed our audience the future is down 500 it appears that people are getting a lot more nervous whats your advice and recommendations for them right now . As i said in a broadcast earlier this month, september is the worst month for the market historically and it gets worse as time goes on. And so, were down now almost 9 from the highs and september has lived up to it of course we have this big market run up to it so it was set up for that and now we have the news about the coronavirus still raging here in the u. S. And in britain and brazil and other places and now with Justice Ginsburgs unfortunate death, washington is going to be the turmoil, probably all the way through election day so we may not get the stimulus that the economy needs you look at the passing of the titan rbg and then you wonder if theres so much else to do, is this going to sort of set congress off its track . If we dont get a Stimulus Program jump, what happens oh, we have to have the stimulus given that day. Economic activity is still quite low. Unemployment rates are high but now people are not getting what they used to get so the stimulus is paramount and were concerned that its not coming so it could very well continue. You spent the majority of your career as a fixed income guy. Bonds have been boring because they havent been returning anything nobody wants to own them which is one reason that stocks have done so well should we be revisiting the way we look at woring o boring old . We think so we think the most important thing is to minimize down side risk if you minimize down side risk then people will stay invested in the market and although bonds have no yield, they will still be a great diversifier for the equity market and because of that, investors still have to have a diversifier we even like long treasury bo s bonds. Its 20 plus year treasury in order to have the diversification that is necessary. Again, you cant think about the low yield. You have to think about the price diversification that the bonds and have the protection that they have you can see bond prices continue to rise as stocks decline. By the way, thats had a pretty good run as well even though its not sexy and doesnt get the attention. Its a pleasure to get you back on, chuck. Thank you very much. Big news day. Thank you very much, brian. All right youre welcome all right. When we come back, theres a lot more to do bracing for impact as beta bears down on the gulf of mexico another major storm threatening the region well get a live report on its track coming up next plus, the passing of Ruth Bader Ginsburg sparking a new political battle for d. C. Just weeks ahead of the election. A very busy hour still ahead were back right after this. The United StatesPostal Service is here to deliver your packages. And the peace of mind of knowing that important things like your prescriptions, and ballots, are on their way. Every day, all across america, well keep delivering for you. Every day, all across america, so youre a small bor a big one. You were thriving, flourishing, but then. Oh. Ah. Okay. Time to think, plan, pivot. How do you bounce back . You dont, you bounce forward, with powerful connectivity. Serious and reliable internet that lets you go bigger and better, with more sharing, more making. Whoa. More that. More talking. 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I love seeing you but not because of this. It is just storm after storm after storm. How big is beta . In my mind i cant remember all of them. We had three named in one day last week. So lets get into what we have to do with beta because this is in the oil country we worry about delays in the Oil Production and stuff like that in this region Tropical Storm warnings all the way back through coastal louisiana. As far as the new update in the hurricane center, the winds have weakened so many storms have overachieved. So today were going to look for landfall later on this afternoon and the problem with this storm is that its going to linger sometimes even a Tropical Storm can provide a lot of heavy rain. It sits here into tuesday and then its going to drift into wednesday. If it rains too hard you get a lot of issues with flooding and thats the concern we could see flooding all the way into thursday and louisiana. So flash flood threat. Well talk about the possibility of 6 to 12 inches of rain. Im happy to report theres no other threats to the u. S. Mainland the rest of this week. Yeah, we have a few days after this one and we still have to get through it. Bill thank you very much and just thinking about the follks around lake charles. Theyre still dig out from laura. Thank you very much. Still on deck, how technology could reshape a key sector of the American Economy and its not one that you might think of. Got the cofounder and ceo next. I keep working my way back to you, babe with a burning love inside yeah im working my way back to you, babe and the happiness that died i let it get away servicenow. The smarter way to workflow. Still a lot of selling two other stocks that you have to watch the founder unexpectedly stepping down as executive chairman saying that he will cheer from the sidelines a former gm executive takes over the board. Shares are down 23 right now as he steps back against fraud allegations. By the way, General Motors which just took an 11 stake we heard from a number of ceos in this network and program. And the industry has seen a rebound since back in april. But not at full employment yet, the sector is expected to grow 4 annually from 2029 and about 300,000 new jobs expected to be added. Launching today to support those is core a labor marketplace app specifically designed for the industry connecting companies and contractors with Skilled Labor that they equire this is an industry that is n notoriously scattered. You have independent contractors. Plumbers, electrician, they all kind of operate in their own time how is that designed to bring that market together so we are really bringing the matching capability to all the countries looking for their resources. Theyre famous for having the shortage which is a really Good Opportunity for doing a lot of what to do next with all the unemployment that were facing so its that ability to match and serve the worker for the industry theres interesting ways that people are tackling this problem but this is definitely a new way. What are some of the biggest hurdles in this industry again its one worth hundreds of billions of dollars but yet still feels, you know, sometimes oneonone i mean, handshakes and a personal check. And it is the number one way that people are getting jobs in the industry now is that and i think thats one of the key issues that were trying to solve is that how do you look at that referral . How do you Bring Technology to look at it at scale and this is something that we have to break out of just our individual networks if were going to succeed in this space. So its two things one how do you better serve the workers. Theres no consistent Career Development path layed out for people so we really want to bring that consistency and scale there and then the second is from the company perspective, its more like, can you imagine logistics but for labor. And what time do they need to be there and how do you manage all of that . Im taking a page out of the playbook and how do you bring this notion into hiring. And then how do you get paid . So we get paid through the company side its completely free for the workers. Again, as an effort we think its not just about access to jobs, its access to the jobs and the training and really thinking through the entire Career Development process and then the companies, like i mentioned, if youre bringing logistic skills its something that they want to pay for. These are real challenges they have finding the right people with the right skills. If youre able to do that, theres a tremendous Economic Opportunity globally. The cofounder and ceo of core an ap to help that marketplace we appreciate you coming on. Well check out the map. The renovation market has been red hot and finding good people is really hard thank you very much. Still ahead, a lot more to do the passing of ruth bade Bader Ginsburg first lets check out the biggest s p premarket losers including some of the travel stocks the entire market is down right now. Oil and gas, carnival, down 5 dow futures off nearly 400 were back right after this. At cdw, we get that employees working from the road are a major security concern. Cdw can assess your needs, then design and implement a secure Mobility Solution using the hp elitebook powered by intel 8th generation core processors. The hp elitebook features groundbreaking builtin security, like sure view to thwart visual hacking and cdw configures them to your companys specs. For mobile security, you need hp and it orchestration by cdw. [intel jingle] axfinity is your home for the return of live sports. Futures are deeply in the red. Big tech stocks this morning n irn nikola down 25 as the founder unexpectedly quits but a number of questions about the deal still remain and the new political fistfight after the death of Supreme Court justice Ruth Bader Ginsburg. Its monday, september 21st and this is Worldwide Exchange here on cnbc. A good start to your monday depending on where in the world that you might be. Its looking like the selling. It is early and futures, they are down big dow futures on 438 nasdaq futures upright now internally in the markets theres really two big and pretty important things that are happening today that you have to Pay Attention to the s p 500 is falling three weeks in a row just close below its 50 Day Moving Average for the First Time Since april two, the biggest stocks. The ones that run the show, theyre starting to underperform some of them meaningfully. In september the s p 500 down 5 coming in this morning but the biggest tech names lost twice or three times as much in the same time. Apple down 19 in september and amazon more than 16 can the market hold up if the 6 or 7 stocks under perform. Two other stock stories were watching closely this morning. Nikola the founder leaving the Company Effective immediately. He will take his place as chairman he is saying he will quote cheer from the sidelines while defending himself over fraud allegations. He does remain the largest shareholder. That stock down 24 right now. You also have to watch shares of some of the worlds biggest banks today. This after a blockbuster story out yesterday when a trove of confidential Bank Documents revealed that several large banks moved massive amounts of elicit money over a period of 20 years despite red flags over the origin of the money. The five banks appearing most within that document, hsbc, jpmorgan chase, Deutsche Bank, Standard Chartered and bank of new york mellon. Among the types of transactions, funds processed by jpmorgan for potentially corrupt individuals and companies in venezuela, ukraine and malaysia money from a ponzi scheme and money linked to a ukrainian billionaire. By the way, theyre being hit hard in european trading now on the report they are off 6 . Well as you might have gathered its a very busy weekend in washington and around the world making it an even busier monday for the markets and your money topping the list, President Trump saying he has agreed in concept to a deal where tik tok will partner with oracle and walmart becoming a u. S. Based Company Called tik tok global. That would delay the Commerce Department ban on the site that was supposed to go into effect last night still current tik tok parent and byte dance will maintain its 80 ownership stake in the new American Company another wrinkle for u. S. China relations comes after the u. S. Sent a top state diplomat to taiwan for a visit late last week sparking the militaries in china and taiwan initiate combat drills china taking the us. As a slight to its claim over taiwan as apart of china and in the meantime, back in washington, a political fight ramping up following the passing of Supreme Court justice Ruth Bader Ginsburg at age 87 late friday night the president will nominate the successor earlier this week. Looking for any loophole to block a nomination before the november general election. At least two republican senators say they will not support confirming a nominee before election day, at least two more need to join that caucus and delay a confirmation vote. And let us begin with you and the latest on tik tok and oracle and walmart. It was a