With the nasdaq losing almost 1 . The s p 500, we see it holding at a threeweek low, falling as low as 2050. Now recouping some of the losses and coming back down. Map functionat the i on the bloomberg, you will see what sectors are losing the most. We are seen Energy Stocks falling the most right now because oil has now fallen for six consecutive days. Now, another thing we are looking at right now is leasing companies. United rentals look at that fall of more than 6 right there. We are hearing data for may fractionallyld up on the year, rekindling concerns about equipment supply. We have other Listing Companies losing ground today. Look at the airline sector. They are another sector that are badly hit. A now see them falling for fourth in five days. American airlines now more than 4 . They have been just cut to to underperform from neutral by a banker from bank of America Merrill lynch. A say Airline Companies are very vulnerable to shortterm shocks. Seems like a lot of red on the board gold is up. It is feared trade coming back . Sherry it looks like it is. The big surging. It is up more than 20 . Just today surging more 11 . That is near a fourmonth high, reversing two days of declines. As traders seek safety, where are they going to well, they are going to treasuries, so you see the 10year yield now at 1. 5 percent, 1. 6 right there, lowest since 2012. We also see globally that Government Debt is seeing a rally, and in german, japanese Government Debt plunging further into negative territory. Yen see the japanese gaming 1. 8 . The bank of japan also refrained from adding more monetary stimulus. We now see the yen the strongest against the dollar and now the yen also becoming the bestperforming currency globally this year. Ver scarlet creating a lot of headaches. Lets check in on first word news. Taylor riggs has more. Was attackedx while meeting constituents in her u. S. District in wax West Yorkshire. I suspect has been arrested. Campaigning was suspended in Britains European Union membership referendum. Canceled aameron has planned proeuropean union speech in gibraltar. Facebook is being asked to provide the Senate HomelandSecurity Committee with information on the Online Activity of orlando gunman omar mateen. The committee has sent Facebook Ceo Mark Zuckerberg a letter saying during the attack he made several facebook posts and searches. The fbi is also trying to wifelish how much mateens might have known about the attack. Cia director john brennan updated before the senate committee. Isil fighters that could serve as occupants in the west. Taylor brandon says they are relying more on guerrillastyle tactics to compensate for losses. Hillary clinton has picked up an endorsement from oprah winfrey. The tv mogul told entertainment tonight it is about time the u. S. Elected a woman. She calls the election a seminal moment for women. Global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. I and taylor riggs. Scarlet. Much, two are so thank you so much, taylor. Unionides of the european exit campaign are suspended. Nevertheless, a brexit vote is scheduled for next thursday. All today, the bank of england reiterated that quitting the eu could materially affect the output for inflation outlook for output and inflation. I got some insight from the university of chicago professor and author of the book misbehaving, the famed economist robert taylor. Thaler. Aler haler the old part is thinking with your gut. The new part is thinking with a spreadsheet. Are tending people to think with their spreadsheets, they are probably thinking it is a good idea to stay in the eu. The leaves are thinking with their got. Scarlet how do the people pushing to stay in the eu use some of their gut instinct to convince others to stay . Mr. Thaler if i was advising the remaining camp, i would emphasize the potential downsides of leaving, which are all uncertain. I liken this to someone who is thinking about getting a diverse diverse and ive divorce without a prenup. They think everything will be fine. Most of the people have told me it will all be amicable, and it is never amicable. That is what this is. It is a divorce with no prenup rules. So, there is one of the a lot of trouble, and we dont know what it is. People tend, in their guts, to be afraid of uncertainty. So, i would accentuate that, and without any misinformation, it is absolutely true we dont know what would happen. We dont know what the terms would be. We dont know what the risks would be to europe, and i think that is one thing that british voters need to be thinking about. If they cause a cascade within disruptingn they are partner,gest trading and selfishness aside, it would yoube good for us or know, it would not be good for us to destroy the economies of canada and mexico. Its if that is what the br do, then that would be bad for them. Scarlet i also spoke with Richard Thaler on the u. S. Economy and why we cannot seem to get out of a slowgrowth business cycle. Mr. Thaler there are lots of reasons we are stuck in this. One that has not been explored quite enough is behavioral firms. We have firms, especially in Silicon Valley, that are sitting on tons and tons of cash that is earning nothing, soon could be earning negative amounts. It is already negative in real terms. Why are they sitting on all of that money . I think some of it has to do with fear. If i am a Smart Company and i cannot think of any investment that has a positive rate of return if i can borrow at negative Interest Rates, then i ought to think of some other kind of work. Scarlet at the same time they are looking at asset prices and how quickly they have risen in the slowinterest rate environment with the Federal Reserve making money so cheap and everyone bidding up share prices. It is not a great time for them to necessarily make acquisitions, so the tendency to sit on their cash gets reinforced. Mr. Thaler well, acquisitions you know, there is an oldfashioned way of doing things, which is r d you dont have to just by other firms at a 50 premium. So, now is the time the last decade has been the time for building new plants, starting new projects, and i see a lot of fear. Fear on the part of companies, and on the part of governments. Scarlet a lot of the times, when asked to explain why they lookearful, they tend to at centralbank policy, what Central Banks are doing, and how we are in this unprecedented era in which Central Banks can you push rate lower were wont raises Interest Rates. Talk about what the Federal Reserve has been doing with forward guidance, and whether that makes sense from a behavioral economists point of view. Mr. Thaler i would say it only makes sense from a behavioral pointicss economists of view. A standard economist would say for what guidance doesnt matter. They would use the term cheap talk. Cheap talk means, like, the check is in the mail, or i homicide will clean the garage this weekend. So, i promise i will clean the garage this weekend. So, these speeches are not binding, the market pays huge amount of attention to them. So, at the end of my book, i call for it, sort of, start of behavioral macro, and one of the topics i wish we learned more when is the effect of janet yellen gives a speech, what is the best speech she should be given . Giving . I do not think we have any idea. Behavioral of a somewhat of a behavioral economist. Her noble prizewinning husband is a behavioral economist. Im sure they are thinking about this, but there is little to guide them. Scarlet when you listen to her comments, other Federal Reserve official comments, are you shaking your head wondering what point theyre trying to make, or does it make sense to you when you think about it from a behavioral economist point of view . Hasthaler i think janet good intuition about these things, and is naturally call mean, which is good. I think she has gotten better over time. This is really hard. No, i think she is doing a pretty good job, but there is no Research Foundation for this sort of thing, and i am predicting over the next five years or so a of papers trying to analyze this. Scarlet that was Richard Thaler, professor at the University Chicago look business, and author of misbehaving, which chronicles behavioral economics. Scarlet coming up, the mystery stock of the day it has been running into pricing problems and has not been able to just do something about it or it cutting production it. Cutting production has hurt the soul. Scarlet ive a feeling i know what this one is. I have a feeling i know what this one is given is. Oliver you are watching Bloomberg Markets. I am oliver running. Scarlet and i am scarlet fu. We need to head over to the markets desk. Mystery stock. He we do have some breaking news here were going to check in with mark barton with london ashley, you know what, mark martin is not ready yet here it get you the breaking news when it comes. Meantime, lets check on how equities are performing right now. If you look at u. S. Stocks, were looking at the six straight day of losses. We did make a comeback following the announcement, but were not able to hold to it. Oliver still a lot of weakness. It keeps going down, really across every stock index you look at. Scarlet we do have the breaking news now. According to u. K. Police, the member of parliament in the u. K. , jo cox has died. She has perished after the attack. That is a tribute to the u. K. Police. Afterer jo cox has died an attack earlier today, and the campaign on brexit has been suspended by both sides for the rest of the day. The u. K. Police with the headline that lawmaker jo cox has died after the attack. Lets go more to mark barton who has more context on these headlines. Mark we are just hearing from the West YorkshirePolice Holding a News Conference that the labour member of parliament who was attacked earlier she was shot twice. She was stabbed. She has died after the attack. We understand she was in a critical condition, the West Yorkshire police have confirmed that cox died as a result of injuries. Now, the police have also said a man has been arrested, and weapons have been recovered. The News Conference is taking place in wakefield in West Yorkshire. She was attacked earlier today in her district, the West Yorkshire police say. They say it is too early to discuss a motive. It is unclear. In hisarlier unclear we heard earlier this was linked in any way to the referendum. A man has been arrested earlier. We heard from various news sources that a 52yearold man had been arrested. The bbc website said that a homemade gun was also found at the scene as well. The very tragic news, which has , theconfirmed, that jo cox labour mp, has died. There was some speculation in the Guardian Newspaper that attacker had shouted written first. Just to state clearly, britain first has come out and said they had nothing to do with the attack, and i should also say that the remain camps and the leave camps have suspended campaigning in light of the event. That was before we heard that jo cox had died. Some background on jo cox. She had just been a member of parliament for a year. She was 41 years old. She was a mother of two. She was an mp4 a yorkshire consists mp for a yorkshire consistency. She was an Ardent Supporter of the eu. Some further background, she was nominated as a young Global Leader by the World Economic forum in 2009. This is a very rare occurrence, not only for an antique to be mp to be attacked, but for a done attack to take place gun attack to take place on u. K. Soil. In 2010. Stabbed he made a full recovery. It is a rarity, and a very sad day, and tragic day. The police News Conference in West Yorkshire is still taking place. The big news here, the devastating news here, for jo cox, for her family, for the labour party, for her constituency, is that the Labour Party Member jo cox has died after this attack. The news reporting that she was shot twice. She was stabbed. And a man has been arrested and arrested. Scarlet mark barton, t y for those headlines. Fromso have headlines Jeremy Corbyn, the leader of the labour party. He says the party and the entire country will be in shock. We know that earlier when news of the attacks became public, he posted on twitter that he was utterly shocked by the attack. Labor leader Jeremy Corbyn giving some comments saying that the late the entire country will be in shock. We will have more on Bloomberg Markets after this. Scarlet we have breaking news, the u. K. Labor lawmaker, jo cox, a member of parliament, has died after an attack today. We have confirmation from the West Yorkshire police. She has that as a result of her injuries. The police are holding a News Conference, and the indication so far as they presume the jo cox is a loan incident. They are seeking information on the suspect and they are not looking for anyone else linked to the attack. They are not in a position to discuss a motive for the attack, but we know at the moment for today, the campaign on u. K. Referendum has been suspended. Both sides have suspended their campaign. When you look across the financial markets, brexit worries are pushing investors into safe haven assets. The sterling dropping to a two month low against the dollar as the bank of england leaves its policy unchanged ahead of the policy vote. In vinceets bring cignarella, who covers currencies for Bloomberg News. Tell us what is happening with pound volatility and what we are looking at as we get into this decision. Pound volatility has been high. We have seen continued move toward puts over calls, which essentially is the market betting for a lower pound, hedging against the pound dropping. Oliver that is, sort of, the preferred metric to get some kind of protection in some sense if you want to assume there is going to be downside. Are there other places where investors can go, whether it is an option, to get protection should this event send markets haywire . Is getting arket nice list as well. The swiss franc will see some strength going into this move. There really isnt a place to hide, if you will. I mean, this is a watershed moment. No one really knows what this is going to be. The markets are treating this as there will be light moment. It could potentially be a seven to 10your event. Scarlet and the euro seems to be getting caught up in this as well. Is that a euro story where it is getting caught up in the fallout, or a push into the japanese yen . Vince more of a push into the japanese yen, but the fallout with the euro, should the u. K. Leaf, it could raise antieuro sentiment throughout the european union, spark other countries to bring up referendums. If this snowballs, you will see the followup, and this could hurt the euro more than the yen in the long run. Oliver we had a decision from the bank of japan basically keeping the norm, what they are at, and continue to develop this relationship with a stronger yen. What does that mean for markets that large . A nice,he yen is that strong bear channel. The bank of japan did nothing with my. Everyone is not doing anything until after the u. K. Vote. There is another vote coming up in july. More likely, if they were to do anything, it would happen at that meeting, perhaps combined with some physical sinless as well to give it a bigger punch. Send stimulus as well to give it some bigger punch. Scarlet than citronella, thank you so much. We we back with more coverage. . C sv scarlet lets get back to breaking news we are covering this afternoon. Police and the u. K. Have announced that british lawmaker jo cox has died after an attack while meeting constituents. Mark barton joins us now from london. The latest headline links to this is that mark carney, the bank of england governor was due to give a speech today. He is scheduled to do so. Is that still happening . Mark it is. Just to tell you about that, today is the annual Mansion House address, and annual festivity held by the london mayor, the lords mayor of london, and in that eggs is an outlook on the economy, and he is joined by the governor of the bank of england, mark carney. From mark carney. He said he will not deliver his planned Mansion House speech. Instead, he will deliver a short speech, and the bank of england cited the jo cox attack if you just joined us, jo cox, the labor mp has died of her injuries. Held a newsave conference. The police a man has been arrested. Weapons have been recovered. The police also say the attack happened earlier today in her district. She is the member of Parliament Since 2015. Ae West Yorkshire police say full probe is underway to establish a motive, and i think it is very important to say, scarlet, and oliver, that police are not in a position to discuss a motive. Link this to the u. K. Referendum. On the referendum point, we know both parties have suspended their campaigns. Prime minister David Cameron wont be traveling to the british constituency gibraltar. He has decided to sta