Welcome back to Worldwide Exchange. On cnbc im sara eisen. And im wilfred frost. Very good morning from me as well. Lets check in on the Global Markets this morning because we are seeing the selling continue after a rough week on wall street at least for the bulls. The s p did close lower by 1. 3 . Dow futures down 1200 points. Nasdaq futures down 31. Youve got the whole riskoff trade. The dollar is selling off. Treasuries are in demand. So is gold right now. As for the tenyear treasury note yield, lower yields across the board. This feeling that the Health Care Bill failed. And what does it mean for the rest of the stimulus and growthfriendly trump agenda like tax reform and infrastructure . Well talk more about it. But its some concern across global wall street. That 240 level. Absolutely. Some expect to see a move today. Given that friday afternoon kind of a muted reaction to that failure of the Health Care Bill. Didnt really do well, the markets, week as a whole, as you said, were down particularly on the start of the week. On that note, financials like the markets down significantly. Goldman sachs down 6. 4 in financials. And the moving yields that you just pointed to very much having a lot to do with it. That ended at 2. 5 and now well below 2. 4 . Another reason why futures are down so sharply today is that International Equities are reacting to the downside today as opposed to later friday. Asia is sharper. Particular particularly, the nikkei. You can see is down 1. 5 . The yen is markedly showing about 1 which well come to in a moment. As you look around europe as well, red, its just improved a little bit in the last half hour. We asked for them, the 1 . Lots of news has brought the euro over the weekend and the export markets across europe. By the way, as we just said, both asia and europe weighing on futures this morning. German Business Sentiments came in a little bit higher, a bit of a surprise. That came in at 112. 3, up from the 111, the index. But friday you got decent data out of europe, over the weekend, a german election result that went in favor of Angela Merkels party. That was a better performance for her. She is set to lose from the other party. Weve got less focus on the French Election than perhaps a couple weeks ago. All of that playing into a much stronger euro. Its about the dollar weakness story. Lets just show you commodities which are under pressure along with the dollar. Wti crude down 0. 5 . And another worry spot for the markets. Showing increases outflows over the last few weeks. Brent hangs above 50 a barrel. But it is down about 0. 30 . And nat gas up 1. 4 . The dollar index a good measure of the dollar, the euro, down, but now has officially erased all of that first election trump rally inflation rally gain that we saw for the u. S. Dollar. Theres the strong youre owe, 108. 56. Seeing pronounced weakness this morning. Weaker against the british pound as well. 125. 63. We said a couple weeks ago, on economics alone, if people can take their focus off the political picture in europe. The euro, talking about whether we hit parity or not. The euro could be 107, or 108, weve done that. And the real differentials which have narrowed significantly. Thats why weve seen the euro rise so significantly. Now, the same cant be said for the pound which has been marked over the last weeks. It went from a fiveweek low rallying back up to that 125, 126 level. The same economics there, it has improved a little bit but a lot of currency structure saying that once we get past some of this momentum on the political side, and the vote, we can put focus more on the yield. And the pound, whereas the euro is struggling. Theres uncertainty not just financial, political as well. The talks begin wednesday. Absolutely right. Lets show you gold. You are seeing some flight to safety kind of action this morning. Weakness of the dollar is yielding some strength in gold. And in treasuries. And gold prices up almost 0. 30 . Now to politics, the white house reacts. Mick mulvaney saying yesterday on nbcs meet the press that the bill failed because washington is more rotten that the administration had thought. When it fails. Folks will come back to us no longer a 100day priority . No because weve moved on to other things. The president has things he wants to accomplish. Hes not going to sit around and wait for congress do the right thing. Vice president pence giving more specifics on what the administration will turn to when it comes to the focus on the agenda next. Listen. Next up, as the president said yesterday, were going to roll our sleeves up and were going to cut taxes across the board for working families, Small Businesses and family farms. Working with this congress, President Trump is going to pass the largest tax cut since the days of ronald reagan. And were going to get this American Economy moving again. So, clearly, this is a line from the administration. Were going to focus on tax cuts. Many people actually have said in retrospect, they should have just started with tax reform as the first agenda item, instead of obamacare. And there are two schools of thought on this, as they relate to the markets and where the trump rally goes next. Number bun, tax reform is what the country wanted anyway, doesnt care about obamacare. Thats good for the markets. We can learn some specifics. And number two, on the flip side is the more negative investigation, and perhaps what youre seeing in the markets, its a lot harder to do tax reform when youve used Political Capital for obamacare and youve actually used some of the budget economic. Well get to my oped later in the must reads about saving money. As we saw in the republican party, an adjustment tax incentive. Absolutely right. The complications in obamacare, they cant get it through, there will be complications in tax reform. By the way, the reaction on friday i was in a plane during that, when i landed i was surprised, a, to hear that the vote had been pulled. And b, on friday, clearly an reaction around the world for whatever reason this morning, one key difference i want to point to, we had selloffs earlier in the week as were seeing this morning. And the moving yields i think is interesting to point to. There wasnt really reaction in the bond markets on friday, we stuck around to 2. 4 to fridays close on bond yields and the markets doesnt really. Today, were seeing the market react. With the dollar slipping. Clearly all of these things are linked. You cant sbrat them out. That was true earlier last week. Tuesdays big selloff, we saw a big slip in the euro, big slip in the dollar. Friday, there wasnt that really that reaction with the bond and the market. Today there is. Its important that whats happening in the bond market has had such a big impact to whats happening in other markets. I think thats true. Equities taking the lead with a 100point decline right now money comes out of stocks and safety with the gold. And also you could consider the ramifications for global growth, if the trump agenda doesnt get us optimistic. Right. Lets stick on political news. Other news out of washington. President trump has announced a new White House Office in fixing the government with business ideas. The White House Office of American Innovation will be run by trumps soninlaw and Senior AdviserJared Kushner. He will work with businessmen including tim cook, bill gates, elon musk. Its expected to operate as a s. W. A. T. Team of Strategic Consultants expected to float above the daily political grind. In terms of Political Capital being used up, im sure this is something that wont particularly please most washington insiders. Hmm. That theyre going to turn to ten executives. Ten executives. We need to solve the problems in washington. To do that, were bringing in washington outsiders. Im sure that will ruffle some feathers on capitol hill. Speaking of capitol hill on the agenda today, the Senate Judiciary committee is expected to vote on the nomination of neil gorsuch as Supreme Court justice. The Committee Chair said the vote could be held over a week. Republicans hope to have gorsuch confirmed before april 7th. This weeks wall street agenda is full of economic data. Look for Consumer Confidence in the speech by fed chair janet yellen. Wednesday, pending home sales. Friday, personal income, chicagchicago pmi. And look for results from lululemon, Dell Technologies and blackberry. And United Airlines is coming under criticism for two teenage girls were wearing leggings. They were flying under a pass which requires a specific dress code. United defended the decision in a series of tweets. And the Company Released a Statement Last night saying, quote, the passengers this morning were united pass Rhode Islander its and not in compliance with our dress code for the Company Benefit travel. To our regular customers, your leggings are welcome. Theres a lot of outrage out there. Including i flew united yesterday in leggings. Im not a teenagers. Girls fly, women fly in leggings. Theyve much more comfortable than jeans. I know theyre on a Company Benefit pass, but nobody else knew that. Thats right. Why did they defend it on social media. Defend what . That they have the right to bar people because of a dress code . Im just trying to find the full dress code which says no ripped jeans. Its not like its targeted two girls that wear leggings. Theres a set of rules who should the children should . No the airlines said that leggings are part of a rule is a rule. Theyve got to enforce that. I think the slightly unforgi unforgivable thing is that these two were 10 and 11. If this were two women the fact that theyre 10 and 11, clearly, these children didnt know about that rule. Therefore, it is a bit harsh of united. If theres a rule and theyre traveling for free how are leggings inappropriate . Similarly, ripped jeans and a long list of things not to wear on this thing. The point being, its not targeted at women who wear leggings. As a woman who wears leggings well, fine, you can wear leggings when not traveling on this if i were on a buddy pass despite the rules saying otherwise . Especially doesnt say leggings no, its a long list. Ive got to find it. This was tweeted out by the company. It said on this im going to find this for the next time we discuss this. It said no ripped jeans, various other things, no shorts. It wasnt targeted at women. It wasnt targeted at leggings. The fact that theyre 10 or 11, they should have waived that. If this were a 25yearold only the same ticket wearing the same outfit, i think they could. The react is how quickly people get on twitter and it starts hitting the stock. Having said that, i dont think this should affect ticket sales in the slightest. Moving on to uber which is temporary halting its crash tests after a crash on friday. There were no backseat passengers. Uber has been testing selfdriving volvos as part of the partnership with the automatic mow maker. Some stocks to watch now getting a buy rating from goldman sachs, with a 27 price tavern. Jpmorgan giving snap a neutral rating and a 24 price target. Other wall street firms, rbc capital, and stifle nicolaus calling it a hold. And ing saying chinese dont infringe on patentses for smartphone design. Bt has been fined about 15 million by a british regulator for failing to install highspeed business lines fast enough. The Company Spokesman mr. Garrin said not allowed to wear like california, spandex, half shirts, jeans or flipflops. Notal allowed to wear spandex . Im just saying its not fair. Its not up to date. And its totally inappropriate. Not totally inappropriate. Youll be standing from your next united flight in defiance . No, i dont think i will. Anyway, a few stocks to watch today. Barrons thinks shares could rise 40 . The paper points to the companys new ceo and other networks of viacom to turn things around. And anadarko may be leading to a tendecline in properties to speed up Company Drilling and development. And China Southern in talks with American Airlines which could result in the carrier taking a stake boosting the routes between the worlds two largest travel markets. Still to come, this mornings headlines from overseas, including the bank of england, outlining its scenarios for this years bank stress tests. But first, check out the futures. Dow futures down 93 points. S p futures down 14. Remember, this comes after the worst week for stocks, up 2017. Youre watching Worldwide Exchange on cnbc. Nbc. Welcome back to Worldwide Exchange. Only about 20 meters from sara still arguing. Im going to return to the market action. The futures low, coming on the back of sharp declines in both europe and asia as well. Of course, the citing of the pulling of vote on health care as one of athe reasons. It does come this morning rather than friday afternoon. Either way, you see its down option 1 on the futures markets. What could be another for that decline would be yield information the dollar which are slipping today. In a way, didnt slip on friday afternoon. The tenyear note, 2. 6 . End of friday, 2. 2 . And that continued slipping of yields and flattening the yield curve. Certainly a reason why were seeing markets decline. And banks were the worst performing sector off the back of that. Also means the dollar is slipping. Lets have a look at that particularly against the yen. The yen is over 1 higher. Nikkei sharply up in asia. The pound and euro as well. The colors are confusing. Pound, the yen and the euro, all higher against the dollar. The dollar is weaker across the board. So theres a more clear picture of what were looking at, dollar index this morning. Making headlines around the world. The bank of england published hypothetical cal scenarios, focusing on that coming up. Wilfred in other global news this morning, german chancellor Angela Merkel got a victory as her conservative party won big in the state election. The christian democrats got nearly 1 of the vote and the Western State of farline which hugged the states of lux som bourge. And that led america to winning a fourth term in septembers national election. A small one, but it was seen as somewhat of a sentiment test for merkel and her party. Exactly, for merkel and her party as opposed the mr. Schulzled party. The party either way proeurope party. Either way a victory. And general sentiment towards european politics, sentiment has improved. The European Union is calling on russia to arrest demonstrators in protest its yesterday. Opposition parties staged rallies with people chanting russia without putin. The protests took place a year before the countrys president ial election in which Vladimir Putin was expected to run what would be a fourth term. And worth pointing out that the highprofile leader of the opposition was one of the people arrested. Still to come, billion dollar backlash. Just how much money North Carolina will lose because of its controversial bathroom bill. Stay tuned. Well be right back. Upstate new york is a good place to pursue your dreams. At vicarious visions, i get to be creative, work with awesome people, and we get to make great games. what i like about the area, feels like Everybody Knows each other. And i can go to my local coffee shop and they know who i am. Its really cool. New york state is filled with bright minds like lisas. To find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. You give us comfort. And we give you bare feet. Search i love you, couch. Backsweat and gordos everything. I love you, but sometimes you stink. New febreze fabric refresher with Odorclear Technology. Cleans away odors like never before. Because the things you love the most can stink. And plug in febreze to keep your whole room fresh for up. To 45 days. Breathe happy with new febreze. The markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. Welcome back to Worldwide Exchange. Good morning. Were monitoring this Global Market selloff for you early this monday morning. Dow futures have improved a few points. Down 92. Down 100 at the top. Hour. S p futures down about 14 points. Nasdaq futures down 28. This comes a week after the s p 500 lost 1. 2 , 1. 3 of its value. Worst week since back in november before the election. And the selling continues this morning, with a focus on politics and the trump agenda. A new analysis this morning by the Associated Press puts a dollar amount on how much the bath room bill will cost North Carolina. To use the restroom which corresponds with the sex on the birth certificate. The ap estimates it will cost them 3. 7 billion in lost business over the next two years. Now, to sports and the ncaa tournament. The last spot for final four up for grans last night in a thrilling finish between kentucky and North Carolina. Down by three with less than ten seconds to go, the wildcats tied up with 73 with a crush threepointer. The tar heels were able to get