Transcripts For FBC Countdown To The Closing Bell With Liz C

His new web video of his own describing what hell do on his first day in the oval office. Well beasking Katrina Pierson about the billionaire businessmans white house plans. And oils big drop causing chaos in caracas, basic necessities nowhere to be found in venezuela as toopec nation falls into a state of emergency. The former u. S. Ambassador to venezuela is here to describe the reality of the situation and its possible impact on america. Ambassador Charles Shapiro will be joining us. Plus, the very latest on the iran deal hearing. Were doing some wall street watching as well and, oh, yeah, charlie gasparino, hell break it. With less than an hour to the closing bell, im Ashley Webster in for liz claman. Lets start the countdown. Ashley well, a bear brawl for the markets today. Right now the dow off nearly 200 points, bouncing around around that 200point loss. Here are todays biggest movers. We call it the retail ice age. Whats going on . Lots of names in the Retail Industry continuing to hit multiyear lows today including names like office depot, big five sporting goods. Those stocks moving lower. Also the Big Department stores like nordstrom and macys and apparel plays such as elle brands, the one behind victorias secret, gap, buckle and stein mart. Tough day for these names. Home depot, the biggest Home Improvement chain, reporting better than expected sales. The company said inconsistent weather was a driving point for sales, raising their guidance, and they are rewarded with a stock price that is going down some 2. 5 in a tough environment today. Well, to politics, and voters are taking to the polls today in kentucky. Hillary clinton has been stumping in the state for the last few days as she tries to stop the momentum of rival senator Bernie Sanders from extending his string of victories. When asked how he thought todays vote would go, heres what sanders had to say. Well, i feel about oregon and kentucky the way i usually feel, and that is if theres a large voter turnout, i think well win. I havent lost yet, have we . Well see what happens. Our goal, we have been working really hard in both states to bring out a large voter turnout. Ashley he seems confident, smiling. Jeff flock is on the ground in prospect, kentucky, listening to what the voters have to say today. Jeff . Reporter hes smiling because hes not here many kentucky right now in kentucky right now where a 20 voter turnout is forecast. Maybe you see this polling place here. Three different precincts, its been light all day. Apparently, thats the way it is across much of the state, a state that Hillary Clinton took very, very seriously unlike some of the other states that shes lost to Bernie Sanders in. She was here multiple times, 12 separate stops over the course of the past several days. Taking the state very seriously. Its a real choice for these voters. Some of these democratic voters really kind of torn between these two candidates. We talked to one guy who, i think, articulated it very clearly. We were conflicted as to who to vote for in the democratic primary. Thinking that Hillary Clinton probably is the presumptive nominee, and so we wanted to provide some support for the democratic nominee. But our hearts were telling us that we really, really like Bernie Sanders. We were just talking and said, gosh, i kind of feel like i sold out Bernie Sanders. So, but i think sometimes, you know, politics is the art of whats to possible. Reporter the art of whats possible. Well see if its possible for bernie to pull it off here. It would be a big loss for her if she were to lose this one. She really has been pointing up though. Her strengths in this state, like her husband, who won in kentucky in both 92 and 96. She also won here as a president ial candidate against barack obama be in 2008 barack obama in 2008. So, ashley, well see where it goes. Its raining like heck out there, that does not help turnout, i can tell you. Im glad im inside. Ashley yeah, good for you. 20 turnout, not a lot of folks yet, but there is still time. Jeff flock in kentucky, thank you so much. Well, Hillary Clintons also battling donald trump over the airwaves. You know, you could see there was blood coming out of her eyes, coming out of her wherever. Does she have a good body . No. Does she have a fat ass . Absolutely. Do you like girls that are 51 . Ashley thats just one of two attack ads launched by hillarys super pac, priorities usa. You kind of get the sense where thats going. Lit air in the battleground states of florida, virginia and ohio. Both ads use trumps own comments in an effort to paint him as antiwomen. Mr. Trump wasted no time in responding, tweeting this amazing that cooked hillary can crooked hillary can do a hit ad on me concerning women when her husband was the worst abuser of women in u. S. Political history. Thats Donald Trumps response. Im joined by democratic strategist steve murphy and republican strategist ron christie. Thank you both for being here. Steve, let me begin with you. Weve seen this type of attack ad before. Is it effective . I think itd be effective. Donald trump has horrendous numbers among women. His disapproval number approaches 70 among women, and thats because hes been, behaved in a misogynist fashion throughout the entire campaign. We want to keep that, as democrats n front of the voters. Ashley all right, ron, this is not the first time weve heard this type of attack, is it effective . When you have the candidate in their own words saying comments like that, people are going to say ashley he has apologized or pulled back from some of these comments, or is it too late . I think its a little bit too late for some people. I think a vast majority of women are going to say i might not like this guy, but perhaps independents and democrats who he might need to win the presumptive race will say he might not get the women vote, but he might get some others. Ashley Bernie Sanders definitely has the momentum. Look, Hillary Clinton could lose every state and still have enough delegates to be the nominee. However, if she continues to lose to Bernie Sanders, she kind of limps into the convention. How important is it that she takes kentucky today . I think its important that she wins a primary or two between now and the general election and, excuse me, the convention. Butting looking what her campaign has done is financially, organizationally and in terms of her own personal campaigning, they have shifted their attention to donald trump, and theyre paying a little bit of a price for doing that in the democratic primaries and caucuses. But its really impossible now for bernie to win nomination, so i think theyre making a sound decision. Ashley ron, its interesting, its going to be fascinating if, indeed, it is donald trump against Hillary Clinton which is what it appears to be. We know what Hillary Clintons going to see say. Weve seen her comments on women, lack of experience, a guy whos kind of a loose cannon in the white house, thats another expression she likes to use. What and how does donald trump counter all of that . I think if you look at the primaries that donald trump has done well particularly in the rest belt states rust belt states, the voters have said we are worried about the economy. She would represent a third term of the obama administration. If trump focuses on the Kitchen Table issues like the economy and what people want to hear and say how were going to fix this country, think hes got a shot. Ashley is he trying to become more president ial . Do you think hes sounding more president ial . As a republican, ashley, i can only hope. [laughter] ashley that doesnt sound optimistic. Im the jurys still out with this one. Ashley all right. Let me give last word then to steve. You mentioned Bernie Sanders dropping out. Hes going to go the whole way, isnt he . Well, i think hes going to go through california and new jersey, sure. Ashley yeah. He has clearly stated that his goal is to overtake Hillary Clinton in terms of pledged delegates. Hes not going to get anywhere near that. That takes over 70 of the vote for him for the remaining states. Ashley so what is it about hillary that people just dont trust . In poll after poll, they dont trust her. Is that her biggest weak spot . No, i dont really think thats a huge problem because it is a republicandriven narrative. The republicans have done a really good job of stoking up a controversy over something that is absolutely nothing. In the case of the emails. Ashley ron . Wow. Ashley you rascals, you, youve invented all of this. Well, the former secretary of state created her own home brew server. She said she ran her base in bosnia under fire. Theres story after story shes made up. Shes not honest, shes not trustworthy, and nearly a majority of the American People agree with me. Ashley and the polls reflect that. Steve murphy, ron christie, thank you very much for joining us. We appreciate it. Much more on the 2016 race later in the show including Trump National spokesperson Katrina Pierson who will tell us what President Trump will do on day one in the white house. Heres a quick look at the dow 30 heat map for you. Caterpillar leading the way, followed by dupont. Jpmorgan chase unchanged, but a sea of red with the dow down nearly 180 points. Coming up next, were going to the floor of the New York Stock Exchange to do a little whale watching. Our traders tell us what we can learn from the portfolios of americas biggest investors. The floor show is next. And wildfires again threatening canadas main oilproducing city. Details on yet another dramatic evacuation. Thats ahead on countdown. You pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Ashley horrifying images of the canadian wildfire that continues to shift north in canada. The massive fire moved towards Energy Production facilities near the oil sands of Fort Mcmurray, albert that, forcing the evacuation of thousands of people. The fire responsible for the loss of one Million Barrels of crude oil per day. The catastrophe is expected to cut about a third of a percent from albertas gdp in 2016. Tough to get those fires out. Whale watching, not just a fun weekend activity. Thirteen f filings from the worlds most successful investors are out today, but if youre just about getting onboar you might not be too late. How are the experts playing it . Traders at the New York Stock Exchange and the cme group and the nymex. Let me begin with my good friend, stephen guilfoyle. Sarge, let me ask you, first, about this selloff. Is this all about decent economic data, inflation rising, better chance the fed will raise Interest Rates this year . Is that why were losing 200 points . Well, yeah. I mean, we had lockhart, we had williams and kaplan say, we had three fedheads none of which are voting members, but theyre listened the and they all spoke in hawkish fashion today. Weve had better headline cpi, not true core cpi, industrialization was better, retail sales are better, so aprils to shaping up like a slightly better macro month. And dont forget the Federal Reserve is owned by the banks. Theyre not working for you and i, theyre working for the banks. If the banks need a rate hike and these guys can justify it, they might just do it. Ashley very good point. Danwork, dano, we like to cal him, george soros getting back into tesla, as an average investor, should we Pay Attention to what these guys are doing . You and i, can the average investor take stock of what theyre doing . You know, i think its important to look at what, in fact, theyre doing. Theyre longterm investors, certainly Warren Buffett is. So if youre a longterm investor, and most everybody is. You shouldnt be a trader unless you have really strong stomach for those types of things, they bought apple. Apples at 93, its down 30 over the last six months. This is a quality stock. Its got a pe ratio of less than 12, it puts out a 2. 5, 3. 5 dividend. An investor has to target a company they think is solid and maven beaten down, and theyve done that may have been beaten down, and theyve done that. Ashley goldman putting out what was seen as a bullish report yesterday saying this global glut of oil is soon disappearing. Weve seen oil gain nicely, crude up 48. 51. Where do we go from here . Well, you know, it seems to me within the last month or two i heard goldman saying crude oils going to stay 20 forever. [laughter] thats true. Its possible theyve flipped their own position. Like the thing to remember is were up 80 since the lows. Im not going to argue that it could go higher because we sort of passed the levels where i like selling it. I think this 48 level is a number, but, you know, again, there is still plenty of oil, and production is lower, and theres lower rig count. I would also look at natural gas which is sort of stuck. I think that was a sale, and i think you could argue that crude oil, i think crudes going to bounce around in the 45 50 range for a while now, to be honest. I dont think its going anywhere. Ashley very good, we shall see. Thank you so much, gentleman, stephen, dan and elliot, appreciate your comments. Thank you. Up next, the downside of socialism rearing its ugly head in venezuela. Oils drop crushing the economy. Theres a state of emergency that remains in place. We have riots, Food Shortages, you name it. The former United States ambassador to venezuela tells us how the opec nations instability could create more problems for america. Charles shapiro will be joining us next on that. And be sure to connect with us on social media. Follow liz on twitter lizclaman and find all the links at lizclaman. Com. Countdown is coming right back. With usaa is awesome. Homeowners insurance Life Insurance automobile insurance i spent 20 years active duty they still refer to me as Gunnery Sergeant when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and im a usaa member for life. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. You wouldnt take medicine without checking the side effects. Hey honey. Huh. The good news is my hypertension is gone. So why would you invest without checking brokercheck . Check your broker with brokercheck. Ashley venezuela is in, quote, a constitutional state of emergency declared by the countrys president. There are massive protests in the capital, crack rahs, and across the country as venezuelans deal with food shortage, Power Outages and a breakdown in the health care system. Adam shapiro standing by with the latest in the chaos sweeping this south american nation. Its rough. Adam . Reporter one way to describe it. U. S. Diplomats, ashley, use terms like Economic Disaster and catastrophe to describe the meltdown taking place before our eyes in venezuela. Shortages of food, electricity and medical supplies motivated protesters or to demand a recall referendum later this year on leftist president nicholas me door row. It takes 30 days to validate a recall petition, but Government Employees in caracas . They only work two days a week. Venezuelas president declared a 60day state of emergency to deal with the developing chaos and failing economy. The government announced a deal with china in which its going to trade oil to china for cash. Thats ahead of large debt payments venezuela actually owes investors. Chinas lent 50 billion already to the struggling socialist country as it tries to deal with recession, Food Shortages and a drastic drop in revenue tied to the drop in the price of oil. Venezuela sits atop the Worlds Largest oil reserves, but the state company was nationalized in 2003 and owes 4 billion just in interest to service its debt this year, and Oil Shipments from venezuela have fallen for several years. Inflation runs at more than 180 , and economists belief time is run believe time is running out for the president. Trade between the United States and venezuela totaled almost 31 billion last year. Ashley, when you hear people try to explain why there are Food Shortages on the drop in the price of oil, those Katrina Pierson<\/a> about the billionaire businessmans white house plans. And oils big drop causing chaos in caracas, basic necessities nowhere to be found in venezuela as toopec nation falls into a state of emergency. The former u. S. Ambassador to venezuela is here to describe the reality of the situation and its possible impact on america. Ambassador Charles Shapiro<\/a> will be joining us. Plus, the very latest on the iran deal hearing. Were doing some wall street watching as well and, oh, yeah, charlie gasparino, hell break it. With less than an hour to the closing bell, im Ashley Webster<\/a> in for liz claman. Lets start the countdown. Ashley well, a bear brawl for the markets today. Right now the dow off nearly 200 points, bouncing around around that 200point loss. Here are todays biggest movers. We call it the retail ice age. Whats going on . Lots of names in the Retail Industry<\/a> continuing to hit multiyear lows today including names like office depot, big five sporting goods. Those stocks moving lower. Also the Big Department<\/a> stores like nordstrom and macys and apparel plays such as elle brands, the one behind victorias secret, gap, buckle and stein mart. Tough day for these names. Home depot, the biggest Home Improvement<\/a> chain, reporting better than expected sales. The company said inconsistent weather was a driving point for sales, raising their guidance, and they are rewarded with a stock price that is going down some 2. 5 in a tough environment today. Well, to politics, and voters are taking to the polls today in kentucky. Hillary clinton has been stumping in the state for the last few days as she tries to stop the momentum of rival senator Bernie Sanders<\/a> from extending his string of victories. When asked how he thought todays vote would go, heres what sanders had to say. Well, i feel about oregon and kentucky the way i usually feel, and that is if theres a large voter turnout, i think well win. I havent lost yet, have we . Well see what happens. Our goal, we have been working really hard in both states to bring out a large voter turnout. Ashley he seems confident, smiling. Jeff flock is on the ground in prospect, kentucky, listening to what the voters have to say today. Jeff . Reporter hes smiling because hes not here many kentucky right now in kentucky right now where a 20 voter turnout is forecast. Maybe you see this polling place here. Three different precincts, its been light all day. Apparently, thats the way it is across much of the state, a state that Hillary Clinton<\/a> took very, very seriously unlike some of the other states that shes lost to Bernie Sanders<\/a> in. She was here multiple times, 12 separate stops over the course of the past several days. Taking the state very seriously. Its a real choice for these voters. Some of these democratic voters really kind of torn between these two candidates. We talked to one guy who, i think, articulated it very clearly. We were conflicted as to who to vote for in the democratic primary. Thinking that Hillary Clinton<\/a> probably is the presumptive nominee, and so we wanted to provide some support for the democratic nominee. But our hearts were telling us that we really, really like Bernie Sanders<\/a>. We were just talking and said, gosh, i kind of feel like i sold out Bernie Sanders<\/a>. So, but i think sometimes, you know, politics is the art of whats to possible. Reporter the art of whats possible. Well see if its possible for bernie to pull it off here. It would be a big loss for her if she were to lose this one. She really has been pointing up though. Her strengths in this state, like her husband, who won in kentucky in both 92 and 96. She also won here as a president ial candidate against barack obama be in 2008 barack obama in 2008. So, ashley, well see where it goes. Its raining like heck out there, that does not help turnout, i can tell you. Im glad im inside. Ashley yeah, good for you. 20 turnout, not a lot of folks yet, but there is still time. Jeff flock in kentucky, thank you so much. Well, Hillary Clinton<\/a>s also battling donald trump over the airwaves. You know, you could see there was blood coming out of her eyes, coming out of her wherever. Does she have a good body . No. Does she have a fat ass . Absolutely. Do you like girls that are 51 . Ashley thats just one of two attack ads launched by hillarys super pac, priorities usa. You kind of get the sense where thats going. Lit air in the battleground states of florida, virginia and ohio. Both ads use trumps own comments in an effort to paint him as antiwomen. Mr. Trump wasted no time in responding, tweeting this amazing that cooked hillary can crooked hillary can do a hit ad on me concerning women when her husband was the worst abuser of women in u. S. Political history. Thats Donald Trumps<\/a> response. Im joined by democratic strategist steve murphy and republican strategist ron christie. Thank you both for being here. Steve, let me begin with you. Weve seen this type of attack ad before. Is it effective . I think itd be effective. Donald trump has horrendous numbers among women. His disapproval number approaches 70 among women, and thats because hes been, behaved in a misogynist fashion throughout the entire campaign. We want to keep that, as democrats n front of the voters. Ashley all right, ron, this is not the first time weve heard this type of attack, is it effective . When you have the candidate in their own words saying comments like that, people are going to say ashley he has apologized or pulled back from some of these comments, or is it too late . I think its a little bit too late for some people. I think a vast majority of women are going to say i might not like this guy, but perhaps independents and democrats who he might need to win the presumptive race will say he might not get the women vote, but he might get some others. Ashley Bernie Sanders<\/a> definitely has the momentum. Look, Hillary Clinton<\/a> could lose every state and still have enough delegates to be the nominee. However, if she continues to lose to Bernie Sanders<\/a>, she kind of limps into the convention. How important is it that she takes kentucky today . I think its important that she wins a primary or two between now and the general election and, excuse me, the convention. Butting looking what her campaign has done is financially, organizationally and in terms of her own personal campaigning, they have shifted their attention to donald trump, and theyre paying a little bit of a price for doing that in the democratic primaries and caucuses. But its really impossible now for bernie to win nomination, so i think theyre making a sound decision. Ashley ron, its interesting, its going to be fascinating if, indeed, it is donald trump against Hillary Clinton<\/a> which is what it appears to be. We know what Hillary Clinton<\/a>s going to see say. Weve seen her comments on women, lack of experience, a guy whos kind of a loose cannon in the white house, thats another expression she likes to use. What and how does donald trump counter all of that . I think if you look at the primaries that donald trump has done well particularly in the rest belt states rust belt states, the voters have said we are worried about the economy. She would represent a third term of the obama administration. If trump focuses on the Kitchen Table<\/a> issues like the economy and what people want to hear and say how were going to fix this country, think hes got a shot. Ashley is he trying to become more president ial . Do you think hes sounding more president ial . As a republican, ashley, i can only hope. [laughter] ashley that doesnt sound optimistic. Im the jurys still out with this one. Ashley all right. Let me give last word then to steve. You mentioned Bernie Sanders<\/a> dropping out. Hes going to go the whole way, isnt he . Well, i think hes going to go through california and new jersey, sure. Ashley yeah. He has clearly stated that his goal is to overtake Hillary Clinton<\/a> in terms of pledged delegates. Hes not going to get anywhere near that. That takes over 70 of the vote for him for the remaining states. Ashley so what is it about hillary that people just dont trust . In poll after poll, they dont trust her. Is that her biggest weak spot . No, i dont really think thats a huge problem because it is a republicandriven narrative. The republicans have done a really good job of stoking up a controversy over something that is absolutely nothing. In the case of the emails. Ashley ron . Wow. Ashley you rascals, you, youve invented all of this. Well, the former secretary of state created her own home brew server. She said she ran her base in bosnia under fire. Theres story after story shes made up. Shes not honest, shes not trustworthy, and nearly a majority of the American People<\/a> agree with me. Ashley and the polls reflect that. Steve murphy, ron christie, thank you very much for joining us. We appreciate it. Much more on the 2016 race later in the show including Trump National<\/a> spokesperson Katrina Pierson<\/a> who will tell us what President Trump<\/a> will do on day one in the white house. Heres a quick look at the dow 30 heat map for you. Caterpillar leading the way, followed by dupont. Jpmorgan chase unchanged, but a sea of red with the dow down nearly 180 points. Coming up next, were going to the floor of the New York Stock Exchange<\/a> to do a little whale watching. Our traders tell us what we can learn from the portfolios of americas biggest investors. The floor show is next. And wildfires again threatening canadas main oilproducing city. Details on yet another dramatic evacuation. Thats ahead on countdown. You pay your Car Insurance<\/a> premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company<\/a> tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual<\/a> deductible fund\u2122, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual<\/a> and you could save up to 509. Call Liberty Mutual<\/a> for a free quote today at see Car Insurance<\/a> in a whole new light. Liberty mutual insurance. Ashley horrifying images of the canadian wildfire that continues to shift north in canada. The massive fire moved towards Energy Production<\/a> facilities near the oil sands of Fort Mcmurray<\/a>, albert that, forcing the evacuation of thousands of people. The fire responsible for the loss of one Million Barrels<\/a> of crude oil per day. The catastrophe is expected to cut about a third of a percent from albertas gdp in 2016. Tough to get those fires out. Whale watching, not just a fun weekend activity. Thirteen f filings from the worlds most successful investors are out today, but if youre just about getting onboar you might not be too late. How are the experts playing it . Traders at the New York Stock Exchange<\/a> and the cme group and the nymex. Let me begin with my good friend, stephen guilfoyle. Sarge, let me ask you, first, about this selloff. Is this all about decent economic data, inflation rising, better chance the fed will raise Interest Rates<\/a> this year . Is that why were losing 200 points . Well, yeah. I mean, we had lockhart, we had williams and kaplan say, we had three fedheads none of which are voting members, but theyre listened the and they all spoke in hawkish fashion today. Weve had better headline cpi, not true core cpi, industrialization was better, retail sales are better, so aprils to shaping up like a slightly better macro month. And dont forget the Federal Reserve<\/a> is owned by the banks. Theyre not working for you and i, theyre working for the banks. If the banks need a rate hike and these guys can justify it, they might just do it. Ashley very good point. Danwork, dano, we like to cal him, george soros getting back into tesla, as an average investor, should we Pay Attention<\/a> to what these guys are doing . You and i, can the average investor take stock of what theyre doing . You know, i think its important to look at what, in fact, theyre doing. Theyre longterm investors, certainly Warren Buffett<\/a> is. So if youre a longterm investor, and most everybody is. You shouldnt be a trader unless you have really strong stomach for those types of things, they bought apple. Apples at 93, its down 30 over the last six months. This is a quality stock. Its got a pe ratio of less than 12, it puts out a 2. 5, 3. 5 dividend. An investor has to target a company they think is solid and maven beaten down, and theyve done that may have been beaten down, and theyve done that. Ashley goldman putting out what was seen as a bullish report yesterday saying this global glut of oil is soon disappearing. Weve seen oil gain nicely, crude up 48. 51. Where do we go from here . Well, you know, it seems to me within the last month or two i heard goldman saying crude oils going to stay 20 forever. [laughter] thats true. Its possible theyve flipped their own position. Like the thing to remember is were up 80 since the lows. Im not going to argue that it could go higher because we sort of passed the levels where i like selling it. I think this 48 level is a number, but, you know, again, there is still plenty of oil, and production is lower, and theres lower rig count. I would also look at natural gas which is sort of stuck. I think that was a sale, and i think you could argue that crude oil, i think crudes going to bounce around in the 45 50 range for a while now, to be honest. I dont think its going anywhere. Ashley very good, we shall see. Thank you so much, gentleman, stephen, dan and elliot, appreciate your comments. Thank you. Up next, the downside of socialism rearing its ugly head in venezuela. Oils drop crushing the economy. Theres a state of emergency that remains in place. We have riots, Food Shortages<\/a>, you name it. The former United States<\/a> ambassador to venezuela tells us how the opec nations instability could create more problems for america. Charles shapiro will be joining us next on that. And be sure to connect with us on social media. Follow liz on twitter lizclaman and find all the links at lizclaman. Com. Countdown is coming right back. With usaa is awesome. Homeowners insurance Life Insurance<\/a> automobile insurance i spent 20 years active duty they still refer to me as Gunnery Sergeant<\/a> when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and im a usaa member for life. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. You wouldnt take medicine without checking the side effects. Hey honey. Huh. The good news is my hypertension is gone. So why would you invest without checking brokercheck . Check your broker with brokercheck. Ashley venezuela is in, quote, a constitutional state of emergency declared by the countrys president. There are massive protests in the capital, crack rahs, and across the country as venezuelans deal with food shortage, Power Outages<\/a> and a breakdown in the health care system. Adam shapiro standing by with the latest in the chaos sweeping this south american nation. Its rough. Adam . Reporter one way to describe it. U. S. Diplomats, ashley, use terms like Economic Disaster<\/a> and catastrophe to describe the meltdown taking place before our eyes in venezuela. Shortages of food, electricity and medical supplies motivated protesters or to demand a recall referendum later this year on leftist president nicholas me door row. It takes 30 days to validate a recall petition, but Government Employees<\/a> in caracas . They only work two days a week. Venezuelas president declared a 60day state of emergency to deal with the developing chaos and failing economy. The government announced a deal with china in which its going to trade oil to china for cash. Thats ahead of large debt payments venezuela actually owes investors. Chinas lent 50 billion already to the struggling socialist country as it tries to deal with recession, Food Shortages<\/a> and a drastic drop in revenue tied to the drop in the price of oil. Venezuela sits atop the Worlds Largest<\/a> oil reserves, but the state company was nationalized in 2003 and owes 4 billion just in interest to service its debt this year, and Oil Shipments<\/a> from venezuela have fallen for several years. Inflation runs at more than 180 , and economists belief time is run believe time is running out for the president. Trade between the United States<\/a> and venezuela totaled almost 31 billion last year. Ashley, when you hear people try to explain why there are Food Shortages<\/a> on the drop in the price of oil, those Food Shortages<\/a> were taking place long before the price of oil started to fall. They put price caps on food in place years ago to try to help people buy food. But by 2011, those price caps were failing, food was nine times more expensive in 2011 than it was when they first instituted the price caps. Ashley wow, what a mess. Adam shapiro, putting it all in perspective. So the next question is, what happens next . And venezuelas okay cross actually impact the United States<\/a> . Well, for expert insight, we are joined by the former u. S. Ambassador to venezuela, Charles Shapiro<\/a>. Ambassador, thanks for joining us. Are you surprised by what youre seeing . Is the result of a socialist government that, essentially, spent all the money it got from oil without putting any away for a rainy day . You nailed it. The price of oil is cyclical. Everybody knows that. When prices were high, they spent it all and didnt save anything. Now theyre low, and theyre stuck. Ashley so what happens from here . I mean, we hear that the chinese are giving them some restructuring of the debt, but that doesnt help the people who cant get access to food, decent medical care, theyre on two days a week in the public sector. Theyring with encouraged theyre being encouraged to do that in the private sector. How far down does this country go . Listen, every time i think venezuelas hit bottom, things get worse, and they will continue to do so. Adam shapiro, my cousin [laughter] laid it all out. They, centralized planning doesnt work. Those price caps dont work that they tried to set in place for food. In fact, it exacerbated the shortagings. The opposition shortages. The opposition is more unified than its ever been. Its working hard to get a recall referendum going, and the state of emergency called by the president , i think, if anything, has solidified the resolve of the opposition to recall the president. Ashley well, thats the question, of course, president maduro blaming the capitalists of the west for creating this, predictably. How does this all how could this impact the United States<\/a> . Well, fortunately, Oil Production<\/a> elsewhere is up, and were no longer dependent on Venezuelan Oil<\/a> the way we were before. So i dont see it having a major impact on u. S. Economy. Id like to get those fires out near Fort Mcmurray<\/a> and get canadian Oil Production<\/a> back in line ashley yeah. And that million bares a day of canadian barrels a day of canadian oil would be real nice. But the truth of the matter is with oil at the price its at even if it gets up some more, the venezuelan government still cant get out the fix its in. Ashley so the question is can the president survive, you said the opposition is more united than it ever has been. I would imagine you would think getting a different type of government in there could be the only solution. Look, never underestimate the ability of autocratic governments to stay in power. Weve seen that around the world. If mismanagement were the reason for governments to get, to leave office, the North Koreans<\/a> would be the first to go. They can hold on, but i think that opposition is actually using the constitution that hugo chavez wrote. Ashley right. And to try to recall mad can uro, theyre more unified than ever. Oil prices are low. The brazilians, who poured money into chavezs elections and maduros election are distracted and certainly arent going to do that anymore. Ashley yeah, arent they ever. The organization of american states has got a secretary general who knows what democracy is and isnt and isnt afraid to say it. Ashley we will continue to follow what is chaos and a real mess. Ambassador shapiro, thank you so much for your insight, we really appreciate it. Its a pleasure, ashley. Ashley okay. Lets get back to the market. It is continuing to fall. The Dow Jones Industrial<\/a> average at session lows, down now 232 points. When we come back, were heading back to the floor of the New York Stock Exchange<\/a> for more on this big move lore. Dont go away. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points ti. All right. Lets get you back on the markets as you can see the dow off 213 points. The s p down at 2,043, exactly where we ended 2015. So weve wiped out any gains on the s p. The nasdaq down one and a third, same with the russell and the transports up slightly higher. Theres certainly an air, a bearish air of sell orders. Is it all about the fed . Lets go down to lori at the new York Exchange<\/a> and get her sense of what the traders are saying. Its a lot about the fed. And early this morning when the cpi, the Consumer Price<\/a> index came out, and it basically showed the fastest increase in Consumer Price<\/a>s in april. In more than three years. So obviously faster inflation supports the fed for raising Interest Rates<\/a>. And a lot of analysts knows right during the course of the day and someone pointed out that the fed funs futures, an Interest Rate<\/a> hike is june meeting. Is now up to about 14 from about three or 4 just yesterday. And that of course comes on the heels of a drumbeat fed seekers who are basically leaving the door open once again for this potential rate hike come the june meeting. So the knock on effect of all of this this talk is that we are seeing this selloff today. As you pointed out, the s p 500 is one point now into negative territory for 2016. The dow is off about 214 points. So off the worst levels of the day. But 200point loss on the dow. A day after, we saw a triple point rally. A lot of uncertainty of what to make of this market. Now, retailers today hitting multiyear lows. And whats telling about this group, zero in on the Home Improvement<\/a> retailer. Shares down 3 , despite reporting better than expected earnings but decreasing the forecast for 2016. Look at that. Home depot down 3 . Home depot just last week hit an alltime high. So that shows you where peoples concerns are. What would it be like if they reported poor earnings . You get beat up for good earnings. Interesting stuff. Lori, thank you very much. Appreciate that from the New York Stock Exchange<\/a>. Lets go to allen now with bullseye option at the cme. Allen, quite a heavy selloff this afternoon. Is it all about the fed as we heard from lori rothman, cpi is up, housing is up, all of this suggesting that perhaps the fed has more reason to raise those Interest Rates<\/a>. Would agree . I dont think theyre going to. Yes, those are positive things but in the big picture, still trading sideways for the last six weeks or so. A wide range where the market is going to make a decision where are we going to move next . Obviously were coming off the lows and backing off and as you saw with home depot, you have the sell the facttype news. Nothing but great things to say. Everything was up and guess what . They just made alltime highs last week. And in anticipation with that, some people are using that as a reason to take some money off the table. So well have to see where things are on a weekly basis. But, you know, were getting a lot of bounce. I dont think the rate hike is going to happen. Theres really just a small, small chance as you just alluded to there. But weve got coming up and i dont think that our policy is going to be changing ahead of something that substantial. Thats interesting. The brecks is june 3rd. You say forget that a june raise. But by the end of the year, would it be more likely. Yeah. Its certainly positive, but i dont think its going to be a negative. I think it could be viewed as a positive. And, you know, raising it from a quarter of a point is not going to cause any ripples. We are still so far away, the median price in the fed futures is about 4. 5 and look at where we are now. We would have to go up every quart for the four years just to get back to the midpoint. All right. Allen, if you could stay there. Let me get to steven now at the New York Stock Exchange<\/a>s. I read your note that you put out this morning and you also noted in that that 52 of americans own stocks. Thats the lowest that number has been in 15 years. I would imagine the quits are the only game in town. Why are people taking money out . Equities pretty much are the only game in town. But at least for the shortterm. If theres uncertainty regarding Interest Rates<\/a>, theyre going to take money off the table. Take a look at the utility sector today. Its down 2 across the board. This is your dividend paying sector that competes directly with Interest Rates<\/a>. Look at the shortened of treasury yield curve. Theyre setting the shortened. This tells you that traders are preparing for a possible increase in the fed funds rate. Maybe it doesnt happen but there is uncertainty. And when theres uncertainty, people take their money off the table. Steven, utilities best performing sector of the year. What does that tell you . Well, that tells you that people were searching for yields. I myself am involved in some of those. I take a certain part of my portfolio all the time and make sure i gettives. If im wrong on my bets, i get a pay. But you see people taking that money off the table. Volume down pretty light. 12 , steven. What do you read into that . Maybe theres a conviction in the selloff. Heavier than yesterday. Yesterday we had an update, and it was really light. Today its a little bit heavier on the downside. So i dont know if theres conviction either way, but it seems to me like lately, within the last couple of weeks while weve been seesawing, the higher volume is on the down days. Lets go to Warren Services<\/a> at the imax. We saw so long the markets with oil. Today it couldnt be further from that case. We see that movement decoupled is the word im looking for. Have we decoupled from the price of oil in the markets . Well, you know, yes, for sure. Weve talked about this a few times, and i do not like that idea at all. The idea of oil and stocks being considered. I mean i know that the movement sort of gave that appearance but i was not a believer in that now. Crude is not a stock. We treat crude like a stock here because it makes it more interesting to talk about i guess. But really its absolutely not. And i personally would like to see crude go lower. I just dont see that happening. So well see what happens. Ashley yeah, once it gets to a certain level, its hard to get back down there. Charlie gasparino joins us on the set now. Charlie. I think its kind of interesting today. A couple of things occurred. You heard mark cuban earlier. Ashley yeah. Earlier today is and we spoke to him afterwards. We said what do you make is this true . Did you really say this . Could you elaborate . He said the market could go down 20 if donald trump is elected president. Why the uncertainty . His trade policies, very protectionist, the uncertainty about taxes, hes waffling all over the place on this. So we thought ashley 20 . Yeah. And i think the other thing is and i mentioned it in neils broadcast. Who his treasury secretary might be. There really is a question mark. Theres a lot of financial people, runs sky bridge financial, its a fund of funds. Hes essentially a Hedge Fund Manager<\/a> and a few other people. Carl icahn is backing up trump. But. Ashley with his experience in the world, uncled pick a good hes very populous, hes going to have a hard time getting a good treasury secretary or someone that the markets would like. Ashley yeah, but he says things and then backs off. Thats the whole thing. Thats why theyre getting scared. Theres uncertainty. Thats what cuban is saying. So we went back and said look at Hillary Clinton<\/a>. Who might she appoint that might settle these skittish markets . And i tell you, if youre just looking at bona fides and background, we should put up a list up here. Its pretty interesting. Ashley yeah. Number one would be Larry Summers<\/a>. Clearly. Top of the list. Larry summers is the former treasury secretary for bill clinton. President of harvard, knows what hes talking about. Ashley hes got the credential. Larry fink, very well respected in the markets. A guy that you hear about every now and then, tony james, the coo of blackstone, the big Money Management<\/a> firm. Ashley i thought hillary thought these guys were the early doers of wall street. She loves these guys. Bernie sanders hates these guys. The last is tom who now is at morgan stanley. Hillarys former deputy of state. Considered a really smart guy. So those are the leading contenders. Its interesting we can name easily i can name five more who might be hillarys treasury secretary from wall street. One of the established players. People that the markets like. Very hard to do that with donald. The names i put up there thats the good news. Go ahead. Arent established players exactly who we dont want . Isnt Larry Summers<\/a> exactly who you dont want making listen, im not a big Larry Summers<\/a> fan. No. Not at all. Im not a big Larry Summers<\/a> fan, but am i missing something about the about the economy during his years . I dont know. It wasnt we werent talking about 1. 5 annual growth when Larry Summers<\/a> was treasury secretary. Not defending him. Im just saying he has a good track record. Ashley let me ask you this. Would you prefer donald trump even though the mark cubans of the world say the markets dont like him because hes unpredictable and protectionist and cuban says 20 drop on the market. What would you say to that, steve . I understand all day possible drawbacks. But in the state that our country is in right now, dont you want a businessman whos used to adjusting to the situation, whos used to being flexible. Dont you want that over established politicians . Established politicians, who weve had enough of for the last 50 years . Well, i dont think established politicians is exactly the reason why were in the economic mess were in right now. Yeah. I mean no offense. But left wing policies like, you know, doddfrank and obamacare and all of these drags on the economy. I dont think you can associate Larry Summers<\/a> with that. Remember it was deregulation during the clinton years. Like it or dislike it, the left hayes it. I would say it did help the economy. We had Capital Gains<\/a> cuts during the clinton years, which Larry Summers<\/a> was behind. Again, like it or dislike it, we had a good market, a good economy. And thats what it comes down to. It comes down to the im nondenominational ashley let me bring in allen. Allen, lets get your thoughts on this conversation. Well, trump first being bad for the markets because of the unpredictability and establishment kind of guy for treasury secretary clinton. Lets do trump first. Youre always one step away from some dramatic move in the marketplace. Misinterpreting or interpreting whatever he says. So the good news for us is the markets have not priced in the reality of him having a very large chance of being president. Were still relatively stable market condition right now. If we start to see a selloff, that may be an indication that people are taking him more seriously as far as the probability of him actually being president. But who is he going to pick . And whos going to make the decision . You dont run the country as a ceo. You dont get to make all the decisions like a ceo does. Its totally did i tell of. You have to allocate and put people in a position. You have to tell donald. That memo didnt reach donalds desk. Ashley hes going to have to learn quickly. Let me bring in warren. Let me get your thoughts on this situation. What do you think of trump and whether hes too unpredictable. You know, listen. I happen to agree with some of the things that charlie was saying. But i also agree with the other i think trump is unpredictable. In terms of, like, social programs and running the government, i think thats sort of fine. I think people want change in that wear. When it comes to finance, though, i think you dont really want that wild card. You dont want unpredictability. Now, i cant comment on the names that are dropped there because i dont know enough about them to do that. Hes one thing i like to make. Donald made some interesting comments about treasury debt. Now, he walked them back. But what he initially said, and lets go by what he initially said. Ly he said he would go to the chinese, and he would renegotiate he didnt say default. Renegotiate. Im paraphrasing a little bit. I would renegotiate the terms of what we owe the chinese. Now, he he went back and said no. No. What i really meant is refinance debt, which, by the way, is not what he says. Refinancing debt is done every day. Right. My point is this. If he ever said that as president , the market would go down 2,000 points because that is one step before default when you renegotiate the terms of the debt, which are bond holders. And especially the treasury debt. Ashley hang on. Sarge, let me get back to you. I want to get more into market talk now. We talked about are people getting out of the big momentum stocks, the i dont know, the apples, or the techs of last year. Cashing in and going into under valued stocks . Are we seeing a bit of that action as well . Well, yeah, just speaking for myself. Im a trader. Thats what im doing precisely. Im getting into safer names, getting into some of the beaten down areas. I got into oil a few weeks ago, i got into tech. Im not in it yet, but im thinking about getting into the retailers now that theyve been beaten up. What about the apple . Ive never touched apple in my entire life, and it doesnt give me encouragement that warren buffet is going into it. He doesnt done well in the last five years. Ashley well, apple dropped below 90 bucks, went down to 89. 47, this is a company sitting on 2. 5 billion worth of cash and one new hit product away from taking off again. Yeah. Sure. I mean but apple is a different animal. Its so widely held among the public. But when i talk to my fellow traders, when i talk to the guys, when it was up three, four dollars yesterday when buffet made the statement, they sold into that. They took a advantage of 3 premium of where it had been trading. Yeah, and apple is heres the thing. We have to remember. And i just read the apple book. And steve jobs said it. He said tim cook is not product. And i think if you buy apple, you have to weigh that. Do they have i mean thats what made jobs brilliant. Every product was good. He knew he had that sense. You dont get the same sense that tim cook is as smart as he is ashley a different dynamic. Yeah. If you think about it, theres a bunch of tech names. Where do you go for innovation . Youve got to think google is more of an Innovative Company<\/a> tit. They squeeze a dollar out of everything they do. Its really an amazing charlie, take a look at the revenues and the profit that apple makes. I mean its still huge, huge numbers even though the sentiment has backed off. But you can total all the top five guys and it still doesnt compare to what apple does on a quarter. Ashley allen, do you like apple . It dropped below 90, moving up now, president bucks, do you still like it at this price . I think from a risk reward standpoint, i think theres more upside. Think about all the big brands that have gotten beaten up that bounced back. You think mcdonalds, you think cocacola, the same thing has happened now with apple that everybody fallen out of love with it. But if you come down to the numbers, it has a pe in single digits. Maybe nine, maybe ten. Whats the longterm prognosi prognosis . Im confident that they will shift and approach that 100dollar level some time soon. Ashley elliott, go ahead. I actually agree with that. I think is a buy. Equities arent my special thing but i am a trader too, and i looked at the thing that has lost so much value and arguably doesnt deserve it. I agree. I think that apple is a guy buy. I think there are other bargain stocks to look at. Like, twitter is not going away. I see that trading 14 bucks. What are they trading at right now . Im not saying its not going to 14. 30. 14. 30. Its going to go higher eventually. Someone has to buy it at some point. It has value. It does. People use it. And get in trouble on it. Just so you know. I guess the traders, this is kind of an interesting question. I mean theres yeah. Theres some talk about a fed rate hike today, i think it was the San Francisco<\/a> fed. Ashley two of them. In atlanta and when i was studying economics when the fed raised rates, the economy is getting better. So people would buy. You would think stocks would go up. The minute someone sneezes about the a rate hike, stocks go down 200 points. It seems to me that the market ashley overreaction . Or people think that this economy is very weak still and a rate hike ashley a quarter percent rate hike would make borrowing more expensive for companies in theory. Right. Ashley who then hold back on spending. But the theory is if you play this out in economics 1 i101 it becomes a little bit more expensive because the economy is overheating. But who the market is saying is that that is not the case. Its interesting. When they raise rates in december; right . Ashley yeah. We had a couple not a couple. We had, like, some lousy weeks; right . Ashley the beginning of the year . Yeah. It was horrendous. So im wondering if they go through now. Ashley we had a suggestion theyre not going to do anything before june 23rd. Take june off the table. Are you okay with that . I think if youre janet yellen and you want to see hillary president , you dont raise rates. Ashley you agree with that . I agree with that. Ashley were seven minutes away from the closing bell, down still 200. Yeah. And i was just checking the levels. Looks like one point above the positive territory for s p 500 in 2016. The next level im watching on the nasdaq is 47. 11, one of our faithful viewers emailed me and said this is correction level on the nasdaq. So 47. 11. And, you know, its really just were coming off the session lows, well off the session lows. Now down 199 points. You know, we had that cpi report this morning. So its interesting i was looking at some of the food and beverage stocks, huge weight on the s p 500. Retailers, multiyear lows, got some new lows. Some of the retailers especially Department Stores<\/a> that recently reported earnings. Again, now theres the dow off more than 200 points. Had all kinds of fed so that supports the case for a rate hike. And getting back to that cpi. It was the fastest monthly increase in more than three years. So all of these things are coming together so that the fed could raise rates. And if you look at the fed funds futures, its a financial instrument. Its a way of playing the markets once again. The percentage expectation that we will get a june rate hike increase to about 14 to 15 from single digit percentages just yesterday. Important to point out. Volume on the light side, 12 on the average onemonth volume. But i think it was steve that pointed out that volume was actually lower yesterday. So you cant make a conviction call on that of whether people are more bearish or bullish. Because if you look at the trend of the market, the s p and the dow have each been down four of the last five days. So once again checking the s p 500, ashley, got 20. 45, looks like 20. 44 where we close and the support on the s p. Back to you. Ashley thank you. Great job, lori, the nasdaq the biggest drop in five weeks, oh, by the way. So certainly a sell off. Lets bring in executive editor jeff reeves. Jeff, we join you on a day where the market is selling off. What would you tell your clients in an environment like this . Well, i think this is pretty much what to see for the rest of the year. Maybe not ashley the rest of the year . I think were going to definitely see some volatility. I dont expect the market to be much higher or lower by the end, but i think were going to see a lot of fireworks. And its mostly because theres so much uncertainty, the fed possibility of a rate increase, theres china, we just went through an earnings season, which frankly wasnt that great for a lot of companies. So i think its very difficult for the market to find its footing right now. So were going to see swings high or swings low up 200 points, and were going to finish around 20. 75 for the s p for the end of the year. But like i said i think theres going to be a lot of fireworks along the way. Ashley so what do you like in this market equitywise . Well, i think youre if youre a shortterm trader, if you want to catch falling knives, but what im advising is go for the low beta investments, if the market is going to be flat, why not get income along the way . Or the stock i like right now is a Real Estate Investment<\/a> trust, vtr i believe. Ashley yeah. Owns Senior Housing<\/a> facilities, has medical real estate. So it pays a juicy dividend of 4 , its not going to burn the house down but with a demographic shift, health care is a pretty safe bet. So i would hide out in stocks like that right now. There are Growth Opportunities<\/a> if you know where to look. But for a typical investor, i think going for a foundational play thats going to stick in your portfolio for years, ventas. Ashley 52 of americans own stocks. Thats the lowest level in 19 years. I started i remember when i first got to the wall street journal back in 1995, the same week of the netscape ipo, which touched off the big boom in stocks and the marketization of investing. People flocked, average people flocked to stocks, and you have just the opposite right now with filing the financial crisis. But, you know, that sort of behavior cost average people a lot of money. Ashley yeah. If you think about it, if you started buying when it when everybody thought the end was year in march 2019, you did pretty dam good. Wherever it is now and however much its off. So, listen, im not a fan of Bernie Sanders<\/a>. I think Hillary Clinton<\/a> is much better than him. Shows points ashley from a market point of view . Yeah. I think borrowing a real lunatic as president. And if you see donald trump, you know, moderate some of his stance i mean, listen. Longterm . This is the best bet in town; right . Ashley right. Let me bring back sarge. Jeff just said that youre going to see this through the rest of the day. These big swings, down 200 point days. Do you agree . I certainly think youre going to see this maybe for the rest of the year. But certainly through the june fed meeting. We just told the fed Fund Rate Futures<\/a> are trading up 14 for june. But more importantly trading up 14 for september. I think september is too late in relation to the election. But the guys trading the futures dont think that. So there will be a lot of uncertainty but at least for the next five or six weeks. Well see how the 2040 holds in the s p. Were trading between 2040 and 2050. Now were at low end of the range. If you look at vix weve been trading sideways two full months between 17 and 13. Were right in the middle. Cant make a decision. Cant make a breakout. Market is not able to stay above 2100 in the s p. Charlie was talking about the contrary opinion that usually the public is wrong. So people are out of the stock market. That is usually reality. People should be buying when they sell and people should be selling when they buy. Just psychological aspect of the market so important and so difficult for people to manage and to master because the fears get overwhelming. Ashley let me bring in elliot quickly on the oil side. I find it hard to believe this massive glut, were swimming in it, 80year high of oil reserves suddenly disappeared on us. Clearly hasnt. Ashley it hasnt. When do we see oil prices come back down . You have to understand people are looking toward the future. People see that, production and is way off. Well the rig count is down. People are sort of counting on that to drive the glut away and drive price up. Nobody wants to be caught. I am not a believer of that. I agree with what the other two guys said. Average guy is sitting out the stock market that probably makes it a buy. I cant agree with that more. As for oil, people are a i grad of it. Goldman saying buy it. On the lows goldman was saying sell it. That didnt work out. Youre encouraging me to stay with my bearish feeling of crude. Ashley well let you. Oil is at 48. Theres the price of oil. Rather the dow, down 182. Thank you to all the our guests who rung hung inith us during the last hour. [closing bell rings] dow still up 180 points. Dave and melissa taking it from here. Melissa wild day for stocks tumbling triple digits, reversing all of yesterdays gains. Im melissa francis. Neil im david asman. This is after the bell. Here what else we have. Bernie sanders looking to take both states from Hillary Clinton<\/a> to keep his winning strike alive while frustration and anger grows over sanders supporters what they call rigged system. There are warnings, frustrations will turn violent all the way to the National Convention<\/a> in july. It cant get more frustrating than this. 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