This is the session low. Look what is hit the hardest, Energy Stocks and exxon dragging down the dow. Chevron as well. Some technology, intel. Look at that dropoff. What do you think, charlie . Well i wrote a column earlier in the week in the New York Post i said this will be the new norm for the markets. Listen, heres the problem that janet yellen. Melissa you mean volatility. Volatility and steep drops. Here is the problem janet yellen has. There are pockets of inflation out there. Weve been keeping Interest Rates at near zero for what, five years now . We are tapering, but that is not, were still printing a lot of money. It really hasnt helped the economy. At some point you have to rely on the underlying economy for the markets to keep going up. When traders look at underlying economy, it is not that great. Melissa yeah. I dont know if it is merits 17,000 on the dow. Melissa jack what do you think . Look at that dropoff. We saw a spike in the vix. Investors will drive themselves crazy if they keep asking themselves, what is the next big 10 drop coming . Much better to say, what will returns look like next 10 years . The answer to that valuations are a little bit high right now, which means returns will be a little lower than average throughout history but still better than what you get in bonds right now. Melissa were seeing more of a reaction to things going around the world. Were more immune right now. Traders talk about ukraine related reports as reason for this precipitous dropoff. Energy is getting hit the hardest. This is, i mean in the past, we were shrugging off these kind of things. Thats a great point. After the financial crisis, macro level Global Economic shocks drove the economy. The financial crisis. Then Federal Reserve response around the world. That receded in last year or two as economy and fundamentals took over. But those threats are always there. Putin is becoming increasingly unpredictable in his actions. New york times reported other day, that russian army is amassing troops on border of ukraine. Melissa yeah. In preparation for potential another assault. That is making people jittery. Listen, if the gdp print of 4 in the Second Quarter is an aberration, should the market be at 17,000 . Im just, in the face of, youre going to have rising Interest Rates no matter which way you put it. You have to have some rising Interest Rates. Eventually. They could stay low a long time. Melissa we have seen tremendous run. Were seeing some traders take money off the table. Meanwhile hot spots around the world on fire. U. S. No longer immune to panic surrounding deadliest Ebola Outbreak on record. If you saw papers this morning, killer virus, dominating the tabloids as suspected ebola patient is tested in new york city. But Health Officials claim it is quote, unlikely the patient is actually infected. We have a lot going on. Jack what do you think . I like a good New York Post headline as much as next guy. Melissa of course. Im not sure it is helpful for the broader public. We have a couple patients returned to be treated down south near the cdc at hospital that specializes this sort of thing. A man was tested in new york. You dont think that is a story . My understanding is that test didnt pan out. But he was tested. The fact is, that, this virus melissa Upper East Side nonetheless. This virus has crossed ocean. Crossed ocean in two cases. Im for that. These are american citizens we need to help. Lets be clear here. A third man was tested. Melissa spencer, jump in there. Were talking about unpredictable threats. This is like unpredictable threat. Melissa right. Doesnt seem like its a real issue in the u. S. Yet but the thing that struck me melissa i dont know. It is getting closer every second. Weve been saying, just in west africa. Oh, there are no americans involved. It is getting closer and closer. Staff is not dealing with this . Why doesnt state department send humanitarian in e mission over there. Why was the guy was fessed because he was potentially exposed. Tested. Basic hygiene things, basic precautions are lacking in west africa. People with the disease can be treated. Just that close supervision in modern hospital dont have that. Okay, i agree with that. Did you see the precautions we took with the gentleman we brought over here. Melissa yeah. This wasnt like put him in stretcher. Like suit him him up. This stuff is nasty. Melissa turn you back to the markets. Because the dow is down 164. Dollar general started climbing amid reports considering a bid for Family Dollar might be a day late or dollar short. We reported this, didnt i . Melissa Family Dollar accepted dollar tree. Melissa the offer from dollar tree last month this is the back and forth dollar store war. Just so you know the Fox Business Network was first to report this this is the one carl wanted. Carl icahn when he took his position, getting all dollars mixed up. What was the first one . Three dollars. Family dollar. Melissa dollar dollar, dollar. Family dollar. At that point we first report is that he was advocating for Dollar General or some merger but he mentioned Dollar General. Dollar tree came in between. Dollar sign on this deal i think is too high because i think Family Dollar is expensive relative to its rivals and underperforms. I think there is way too much store overlap which points to high costs for closing stores. Youre talking rational here. Talking rational. Like insanity of this. If youre an investor and listen to carl, i think he made a few bucks. He got two of them to bid on him. Melissa show markets again. Were down 170 points now. Were sinking precipitously here as were talking about this. I mean, what are the signposts you see in the road, spencer . People are looking for a reason to sell now. There has been so much melissa thats true. Any little thing, you know, will just make people, sort of like push that sell button. Ebola . I dont think so. Melissa not just ebola. Whole combination of things. It is palestine. It is russia. It is ebola. Melissa the fed really signaled a change in stance last week. Thats it. Melissa they really came out and said look, this is the end of the road. Were sounding more hawkish. The end is near. Easy money has been made. So what is on investor say . The investor says we have to rely now on the obama economy, on earnings. Reflecting 17,000. Measures of the support value for stocks, they look pretty good right now. Dierdre yeah. Second quarter numbers, 7 earnings growth. More important youve got 4 sales growth. We lacked sales growth a long time. Shows some consumer demand is coming back. Early signs of recovery in europe. If that 4 gdp print is aberration, if it is not aberration, it is absolutely right. If it is we have problems. Melissa look at some of the other relationships out there. I dont know if we have oil chart. Oil getting hammered. We had supply data out earlier today. Oil getting hammered to sixmonth low. At the same time youre seeing oil stocks within the dow trading lower here. Look at that chart. That is one of the ones, gold, also turning positive as were watching selloff, indicating that people are getting nervous. Look at treasury market as well. It feels like, there is a sea change going on. Talk about problems for putin, that decline in the oil price is the biggest problem he could possibly have right now, the costs for them drilling oil in siberia, is higher than what it costs other folks to pull oil out of the ground. They cant compete if oil falls below0 bucks, closer to 75. Big problems. Melissa same 6 at the same time, i dont know if you guys saw this, s p said a wealth gap is growing around u. S. Never miss a chance to blame the wealthy Going Company missed fil crisis and orange countys bankruptcy. They dont have greatest track report record. And they are under investigations by doj for misleading people on stocks. Melissa i was trying to drill down what the reason would be. You seldom hear the wealth gap may be a lot of things. Doesnt necessarily spur a slowing economy. Trying to say, having lower income folks lower on credit, makes us more susceptible to swings in the economy. This is big part of the population. Lower income folks are shoppers. They shop at stores, but shop at big companies. Melissa you buy it . I buy it. Melissa come on, charlie. What are you doing sitting there while he buys it. Walmart is struggling to grow sales. Melissa spencer, you agree. I buy it too. Here is what scares me about the obama economy, the rich have gotten richer at feverish pace. The poor have barely kept up in terms of their wages. I dont care what anybody says. Im a conservative. Im a compassionate conservative. When poor people cant make a living that is not a good thing. Melissa were bumping up 200 points as we move lower. Spencer. The thing that struck me about that report, the prescription for this is actually, there is no easy fix to this problem. Melissa no. The longterm fix is actually investing more in education because Unemployment Rate melissa we always say that. So irritating. But we dont do it. [all talking at once] melissa that will fix it. Wall street journal right . Journal wrote this really good story how about all the jobs out there that pay that people are not being trained for. Welders. Melissa right. Carpenters, whatever. Bluecollar jobs where you dont have to go to college. There is skill involved. I agree. My dad was iron worker. Okay, made a few bucks. Melissa all right. Were keeping close eye on the market. Meantime be there or be square. Blackberrys square smartphone raises to get a leg up on iphone 6. Longevity for the golden arches, report says that mcdonalds will be the last burger left standing. More money on the way. Crestor lowered bad cholesterol in its a fact. Highrisk patients more than lipitor. Bad cholesterol. Youre going down yeah lowering cholesterol is a big deal, especially if you have high cholesterol plus any of these risk factors, because you could be at increased risk for plaque buildup in your arteries over time. So, when diet and exercise arent enough to lower cholesterol, adding crestor can help. Im down with crestor crestor is not right for everyone, like people with Liver Disease or women who are nursing, pregnant, or may become pregnant. Tell your doctor about other medicines youre taking. Call your doctor right away if you have muscle pain or weakness, feel unusually tired; have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. These could be signs of rare but serious side effects. Are you down with crestor . Ask your doctor if crestor could help you. If you cant afford your medication, astrazeneca may be able to help. Melissa stocks decline accelerating. Nicole petroleum on the floor of new york stock exchange. Weve seen a real dropoff, nicole. All reports saying there are more tensions out of russia. Polands foreign minister that Russian Troops are ready to invade ukraine. Is that what traders are talking about there. Theyre definitely talking about that. Theyre talking about pressure from russia. But russia has been absolutely talk that i have seen over the last hour. You know, i get to see sometimes instant messaging from different traders in their booths and such and definitely seen some of that. There was also concern about how they may be restricting airspace. You know, im not really sure what is actually, you know, then you would have u. S. Planes having to go way around, use more fuel. Just the fact that tensions are building does not poise well. The market overall has been to the downside. We dropped 600 points in the last two trading weeks. Yesterday we had a little bit of a bounceback. I was talking to mark newton at gray wolf partners. Look, nicole, bounce back yesterday after losing 600 points last two weeks, felt like a blip. It didnt feel solid. Didnt have volume behind it. You have now basically selling across the board here. You tried to give it a go. Tried to break through some keytek calls. Not able to do it. Look at a name like halliburton. Energy is the biggest losing sector. All 10 sectors we follow by the way are all red. Energy, look at intraday of halliburton or any of them see them dropping. Health care, aetna would be a great example of that. Tossing it back to you, with the s p 500. 461 names, melissa, out of 500 are red. Melissa nicole petallides, thank you so much. I want to go to jason rotman, he is on the phone. With a big drop like this you want to get as much perspective as we possibly can. Jason, we fell off a cliff at top of the hour. In your mind what cued it . As ive been saying past couple weeks ago, melissa, i really believe the reason why were entering simply the normal market much the market is looking major, at Major Company earnings. If earnings arent good, there will not be anymore buyers, he especially with the tapering in full effect. Motorola solutions, target is down 4 , so on and so forth. Were not seeing positive earnings. That really what started the whole downfall last week. Ups, kraft, whole foods. So if earnings arent good, well see momentum continue to favor the downside. Melissa jason, when they blame tensions around the world or latest comments out of poland, ukraine, russia, do you buy that or do you think it is just an excuse . Well it is not necessarily an excuse, it is definitely real but i think the markets are made of people and people are emotional and i think when you get depressing, kind of fearbased news out, hey, maybe the whole world isnt albright and rosy you will get some protective measures, taking tremendous amount of profits that have been made by the longs over past several years off the table. Were still above 1900. So we could still go a little further down. Melissa yeah. We saw a big selloff on friday. We bounced back, yesterday. A lot of people felt relief based on that. Was that a deadcat bounce . I believe so. Were making new lows today. Anytime you make a new low, that is an obvious sign of momentum favoring that direction. In this case, were making a new low, not a new high. And so therefore i still believe again, were above 1900. Melissa yeah. My next key level from a trading technical standpoint comes in about 1860. Melissa so are you selling . Well, we do have some recommendations out for some bearish s p positions. We deal in the futures. So we just look at indexes and again we are saying that the markets have topped out. And we think theyre going lower. Melissa yeah. Let me ask my panel, what do you think of what he just said . I think he makes a good point but you cant underestimate this russian thing because russia as europe by the cajones. I dont speak spanish. They can squeeze them pretty hard. 30 of the natural gas being exported into europe from russia. So the u. S. Can talk a big game here but they dont have a lot of room to move. And if something does happen, the price of energy is going to skyrocket in europe and it could hurt the recovery in europe. Melissa jason, is there anything that looks like opportunity right now . It does. You literally read my mind. Good for you. The major thing i see is great opportunity is natural gas. Natural gas is below 4 for the first time in the many months. It is still hovering near clearly lows, 2014 lows. When there was whole polar vortex craziness back in february, i know you guys in new york remember that, natural gas was above 6. It is now debow 4. Everything you read whether Warren Buffett invests to qatar, worlds energy, everything is moving towards lng, liquified natural gas. So i think natural gas has a tremendous future. Technically the fact it is below four i think its a great buy. Melissa jason, do you think the fed signals a change in course last week . Are you reading it that way as a lot of folks are . No, not at all. The thing is, there are 1,000 different interpretations for every letter that the fed says. Melissa always. But i think the fed is very, i actually applaud the fed and heres why. The fed has not paused the taper. If the fed were to pause the taper, people would have been jeez, man, how can you trust anything they say. I applaud the fed because they keep tapering every single meeting and i think they are very consistent. The next question when will they raise rates and that is to be told. Melissa dont move. Well be right back. Well squeeze in another break. Ebola headlines just keep coming. The second sufferer arrives in atlanta as patients are tested for virus everywhere from new york to ohio. Were discussing the chances of an outbreak. That is coming up next. Plus calm returns to gaza but for how long . Well be going live to the border with israel. A lot more money. A lot happening today. Dont go anywhere. Well be right back. We never thought wed be farming wind out here. Its not just building jobs here, its helping our community. Siemens location here has just received a major order of wind turbines. It puts a huge smile on my face. Cause im like, this is what we do. the fact that iowa is leading the way in wind energy, im so proud, like, its just amazing. 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Dr. Kent brantly and Nancy Writebol both contracted ebola while doing missionary work in liberia. Theyre receiving treatment the of experimental serum that appears to work incredibly well. Meanwhile a new york city man being tested with the disease. Are we at risk for an outbreak . Fox newss medical