With stocks trekking oil, whats a kingdom to do . Saudi arabia might be about to take drastic measures to stabilize its finances including selling the crown jewel. Actually considering an ipo of a stateowned oil giant. Is saudi arabia losing its grip just as isis and iran bear down . Weve go to a fox business exclusive. You cant miss it. Weve got the former u. S. Ambassador to saudi arabia. Richard murphy. He knows what theyre thinking and the race to the cornfield so. Just 22 days until the iowa caucus and while donald trump may be leading the polls his economic plan is falling under scrutiny for the world leading economists. What they say they found and whether it will hurt the frontrunner. And as vw unveils a new concept suv with a slightly bizarre name. Jeff flock is live at the north American International auto show asking the really tough questions about the companys not so clean diesel emissions scandal. Consider Consumers Trust the car manufacturer and buy into the tiger suv. Were going to explain that. But less than an hour, season after the bell the last hour of trade. Strap yourselves in, lets start the countdown. Liz breaking news. Listen, we need to tell you that while these numbers dont look like the worst of the session, you might start to see some real capitulation at this hour. What does that mean . It means throwing in the towel. Right now the dow, the s p 500, the nasdaq, the russell, you can see are all lower at the moment. But the buy on the dips crowd, heres the problem. Still in leading. Not coming in to buy real bargains here. Take a look at the nasdaq. Losing about 36 points. If it closes down today, that would be the longest losing streak for the index in eight years. The russell 2,000 dipping into bear territory. This is the level to watch. 1,036. We are right there right now. This very second. Anything below that puts the index in bear territory. Its already been there today. So well see. Does it close below 1,036 . That would be the headline that you see. Now, as bad as it might feel to be in stocks, lets put this in perspective. All three embassies fell more than six last awake. Very tough as you know. The shanghai index fell a significant 10 . And if you add the 5 loss overnight this morning. Well, you do the math. 15 hoar filing ugly but take a look at the comparison. The shanghai versus the s p 500. The s p 500 is the yellow line there. Compared to the volatility were seeing in asia, the u. S. Looks like a sea of tranquility or just move. And right now were looking at oil. Touched a new 12year lowe dipping below 31 a barrel since the First Time Since december 8th, 2003 and we are slightly above it at 3132. And also hitting individual names, gopro hitting a lifetime low today of 114. 57. That makes it two sessions in the nah row that the wearable Camera Company was momentum and hot stock has hit all time lows. Currently down five full Percentage Points to 15. 37. You want green . I dont know. Can i give you green . Is it walmart . Barrel. We have up threequarters of a point. Fridays close, it was the only winner year to date in the dow. Of course the year is young. Two things. The years very young and number two, it was really very much a lagger. It was the biggest loser of 2015 so investors suggested it might be oversold. But why isnt bouncing higher . Right now walmart up just twothirds of a percent. So as oil hits that low, all 40 names in the s p 500 down. But look at these ones we decided to pick out for you. Marathon, williams, murphy oil, they are the biggest percentage losers with marathon down 7 . I believe marathons year high was more like 31. Right now its at 9. What is working . Well, if you were smart enough a couple of weeks ago when we told you about sco. This is basically the pro shares ultrashort oil. Its going gangbusters. Its jumping nearly 10 right now, and we picked some other power shares and etfs that are basically very short crude oil. The least risky would be the sco. Its not a double short or anything like that, but right now jumping three and threequarters percent. So if you see the trend that oil is going lower, you bet against oil, you make a little money on a day like this. So we bring in the traders at the new york flow show, the New York Stock Exchange and the cme, and you first. I just showed anybody was smart enough to go short oil in the last week or two or neil month or so ago, you did well. Why is oil falling 6 short today . What is going on . Theres a variety of reasons. One is theres a glut. Weve talked about this a number of times. Liz the glut has played in every single day. Right. Liz 6 today . Well, listen, if rumors were to be believed, isis is selling 10 a barrel to anybody with cash, so thats definitely putting a drag on it. The iranians havent sold theirs. The russians and the saudis have both said that theyre not going to cut back production. Theres no theres no reason to buy it yet. Although eventually were going to get into maybe oversold territory. We were talking about getting 30 days for a long time. And we finally got there and now it gets to 31, were not here to pick the bottom, so i think this stays until it pop. Liz elliott says eventually stabilizes. You would think that eventually some of the buy on the dips crowd would be coming in here today. Is it more about china showing another 5 drop or oil at 6 . And if i am a Retail Investor right now with about 58 minutes to go, do you buy some of the names that look i guess cheaper . Thats maybe a stretch. You know, liz, they say defense wins championships. And thats what traders doing. Theyre playing defense. Take a look at the staples. Theyre up. Take a look at the utilities. Theyre up. Also seeing movement cash. So its specific what guys are going into but there is green on the screen but also defensive. Liz yeah, you would say double short oil is really the play. Even treasuries arent behaving in a way that you think gold. Gold is not spiking. Where are the flows . Wheres the smart money going . Tell our viewers. Well, i think the real pros, you know, back when we were we couldnt get to 17. 8 and janet we will be came out with very bullish talk. We talked about that. We werent able to pick out new highs. That was the time to set your hedge. I think todays low was very important from a technical at some point. It was pretty much an exact 10 correction from the recent resistance. We couldnt get through 2,100 in the s p. We couldnt get through 17. 8 in the dow. Lows so far, 10 . So guys are watching that 10 level and then what are people looking at . Theyre trying to buy against that. Theyre looking for a bounce on people selling in fear. But watch the tenyear. We had a threeday high today in the teen year, and thats why i think i would be looking at. You have to look at the futures markets for your hedges. Liz well, were still looking at oil at this point just barrel above 31 a barrel and perhaps thats really the catalyst for bringing most of the markets to the red here today. Steven, chris, he will why the, appreciate it. We have 52 minutes before the trade, i keep saying watch out for capitulation but investors and this is a Bigger Picture story pulling more than you. You pulled more than 8. 8 billion out of Global Equity markets last week alone as stocks continued their route around the world from market instability in the middle east. So are stocks poised to turn around . How do you play it . We thought this was a perfect day for a debate. Joining me now National Security global strategist feeling bullish in many areas interestingly enough and peter shift. A bear but in specific areas. Andy, i want to begin with you because its tougher to be a bear on a day like this. Why are you bullish and where . Well, liz, as far as being bullish, i think youre on the verge of capitulation. I think youre seeing it in oil now. I think youre seeing some of it in stocks. Youve reached the correction area in a lot of areas of different stock. And as you just said a moment ago, youre in the bearish territory in the russell the russell. Liz okay. But this is a big list here. Stocks, bonds, emerging markets and high yields. Youre not worried about a jump. Im not worried about any of these. But i will tell you that im not stepping into these right away. I just want to see a little bit more of blood on the streets. And i think some time this month youre going to actually get some very good returns by stepping in. Im part of the buying on breakstype stuff. I really do. Liz yeah, hes listen, you have the unemployment number that just came out. 300,000. You know, youve got youve got different aspects of the economy that are actually looking pretty good. You had 2. 6 billion miles put on by cars. Youve had record sales of cars. You just had stimulus. You know, from the house. You know, so i dont think things are going to be that bad. Liz okay. Thats our but obviously the markets are bad right now. Liz thats our bull and, peter, you just heard our bear. Roll out some of the positives that he perceives to be. I know you disagree. And it would be easier to disagree on a day like this. What do you see and are you buying anything right now . Well, first of all, were nowhere near capitulation. I think were still in denial. Remember this entire bull market was about the fed. And the fed finally pricked its own bubble in december. And theres a lot more air thats going to come out. The market is going much, much lower until the Federal Reserve comes clean, admits that its not raising Interest Rates anymore. In fact, i think theyre going to have to launch e4 to save this market, and that is exactly what theyre going to do. In the meantime the great recession, which was interrupted by the fed is about to resume unless the fed comes back. But of course ultimately were going to die of the feds cure, which is actually worse than the disease. But, yes, this might be a buying opportunity. It all depends on how quickly the fed comes clean. But i still think theyre going to wait awhile. Theyre playing a game of chicken. But this economy is in lousy shape. When you hear people say, oh, its detained to manufacturing. Its just an industrial recession. Yeah, its as detained a contained as the mortgage or if you remember the nasdaq bubble burst by 2001 the s p and the dow still hadnt rolled over and people were saying it was contained to tech. Its not contained them, not contained now, people are still in denial in the markets and the economy. The fed and so the wind and now were all weeping the whirlwind. But, peter, you still have some of the lowest Interest Rates in the world, two Central Banks that are full throttle as far as easing. I dont think youre anywhere near the 2008 bubble or 2007 bubble. This is not an internet bubble. I think things are going to bounce back, and i still think the economy is going just fine. Granted its choppy. 5 bubble. This employment number. This bubble is bigger than those previous two bubbles combined. And even though Interest Rates are still low, theyre not low enough. Its like when you get a big heroin habit and you kick liz then why isnt gold bouncing more, peter . Why isnt gold bouncing more, silver is a mess too. I would think that those are the plays that you like and there is no fear trade here at the moment. Peter, if you were right people people are still in denial about the real extent of the problem. People still believe in this phony u. S. Recovery like your other guest. You keep talking about the low Unemployment Rate. These are lagging indicators and the only reason the Unemployment Rate is down is so many supreme left the labor force or settle for low paying parttime jobs. But, look, companies dont lay people off because they anticipate a recession. The layoffs start when employers are surprised by a recession they didnt anticipate. Liz and we can say right now all economic data. Liz yeah, it doesnt look like were seeing capitulation just yet because the stock market has been at least in the green earlier today at one point. Andy, peter, thank you very much for the bull bear debate. Were going to put their positions up on facebook. Com lizclaman because right now it is a very stuff market were going to walk you through every minute left here and about 47 minutes left to go before the closing bell rings. We need to talk about the diesel dilemma. The new suv concept at the north American International auto show that has a totally bizarre name. Totally bizarre promise but can the Consumers Trust the german carmaker after that scandal involving its diesel engines and emissions and the outright lies the company told . Jeff flock in detroit asking the tough question. And saudi arabia putting the family jewel up for sale. Why the largest member of opec is considering what will be the biggest ipo in history in any country. Bigger than anything youve ever seen. And what would it mean for middle eastern relations . And youve got to be sure to tune into lou dobbs tonight 7 00 p. M. Eastern. He is going to unveil the highly anticipated line up for the fox business gop debate. Set your dvr to tivo because the debate is airing this thursday. The first debate begins 6 00 p. M. Eastern. Sandra and trish followed by the second debate 9 00 p. M. Maria and neil. Dont miss either one of them. Countdown is coming right back. Weve got the Dow Jones Industrial down 72 points. When i went on to ancestry, i just put in the name of my parents and my grandparents. And as soon as i did that, literally it was like youre getting 7, 9, 10, 15 leaves that are just popping up all over the place. Yeah, it was amazing. Just with a little bit of information, you can take leaps and bounds. Its an awesome experience. Liz breaking news with 42 minutes before the closing bell rings. We are looking at the russell 2,000 in bear market territory. What does that mean . That means youre down 20 from your highs; right . 20 from your recent highs. So right now any close below 1,036, right now at 1,033, a very tough day in the markets, but we wont at least have another merger monday today. Another megamerger is on the books. Shier a ukbased pharmaceutical, a u. S. Company takes a big step forward as the pair announce a 32 billion cash and stock tie up worth about dollars a share. The deal would create the largest maker of blood disease and cancer drugs in the world. So it continues at a pretty dramatic pace. Now, from a merger to a outright ipo. The mere idea of this one shocked not just the equity world but the Foreign Policy world. Saudi arabia came last week state oil giant taking ram copublic but is that a sign of disruption for a country not only struggling with oil prices but terror intentions. Were lucky to have richard here, here in a fox business exclusive. Well, the news surprised everybody. Did it surprise you . Because its basically an appendedge of the saudi government. One that has negative been opened to the public. Besides of their reserves considered state secrets. Liz why would they do that . It looks to us panic a little bit as to all whats going on with oil prices where they really need to see oil a lot higher in the hundreds per barrel to make a profit or break even. Yeah. I dont think oil is headed for the hundreds. But i can understand liz so theyre in trouble. It is. Its tight. I resist the word desperate because the size of their reserves. They are enormous. They have dug deeply in to cover this year. But i think motivating more than anything, any other factor is your one year into this new Saudi Administration where the king had appointed a favorite son as both defense minister overseeing the economy and pledged to in effect shake things up. And this certainly has sent a tremor. Liz well, the saudis foss voice is maybe a few decibels lower. Thats not concerning me very much. What worries me is the stability take it or leave it. And right now it has to fight almost two battles on different battlefields. Its got to deal with the Oil Situation and a possible ramco ipo, the last time people valued this company it was at 10 trillion. Its crazy. But on top of it looking at hostile nations around them, violence in iraq, libya, syria. What is their strategy . Youve been on the inside knowing a lot of these players. Well, i think this is a nervous time. For many years in terms of bilateral relations, theyve been almost thinking about it, but they could count on the United States come what may. We gave assurances that we would handle their external any external threats to their security. Now theyre not sure where we are. The Nuclear Agreement with iran shook things up. They are not they dont know where we stand, and theyre convinced that iran is out to do them in around every problem they face. Liz we have frightened viewers who are worried about saudi arabia somehow being toppled as we know iraq had unbelievable distribution going on there. Libya as well. Could that possibly happen that the kingdom loses its strength and its grip . Well, Saddam Hussein was pretty much the whole personality running things. He had tough assistance with him. Even more isolated as a leader. This king has the support of remember some 9,000 princes in the royal family. Liz thats a big family i dont want that thanksgiving dinner. Kidding. Theyve been busy. Right. Liz they have. Richard murphy, thank you very much for joining us. Pleasure. Liz concerned but not saying its a disaster situation just yet. Hes the former ambassador to saudi arabia. Thank you. We appreciate it. Thanks. Liz all next week and this is definitely going to be the focus. The World Economic form. Dont miss our complete coverage of the meeting of the biggest names in both business and politics. The worlds leaders in both of these areas. Ill be there for the big kickoff for the west the World Economic forum as well as charlie and maria, were going to bring you the headlines and unbelievably important interviews with all the news thats going on. Youve got to join me. Closing bell. We are about 37 minutes away from hearing that bell ring. Donald trump can certainly talk the talk. We know that. But could a dark horse jump into the race and actually walk the walk . We reveal the man that may be the only candidate who could give trump a run for his money. Literally. And se