Detailed text transcripts for TV channel - MSNBC - 20190805:18:35:00
Wall street at the moment, the dow plummeting as the president's trade war with china continues to escalate. major markets on track for their worst day of the year. you see it there on your screen. the dow is down about 840 points. 3.17%. cnbc's contributor ron insana joins me now. good to have you with us. walk us through what is happening here. you and i spoke on friday and we saw this coming but i don't think anyone anticipated this is what would have happened when china responded. >> indeed, china did respond with respect to allowing its currency to fall through seven yuan to the dollar. t...