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Susannah streeter is senior investment analyst at hargreaves la nsdown. iamjust i am just trying to get my head around this, the amount of money that facebook, or meta, lost in one go, is more than the value of any company currently on the london stock exchange and listed in the uk. that is absolutely staggering. i mean, was itjust a correction, have stocks been priced for perfection and then they fail? or is there a wider issue here?— they fail? or is there a wider issue here? well, certainly, it issue here? well, certainly, it is art issue here? well, certainly, it is part of— issue here...

Finance those deficits as easily at this point in the cycle, could lead to higher rates and affect the stock market down the road. eight a double edged sword if you're going to live by it, you may also die by it. having said that, this for now is probably still a long overdue correction. it is premature to say it is anything more than that because the economy looks strong, corporate profits are quite strong and global economic environment is still solid. until that changes or unless central banks get aggressive in raising interest rates this is probably a correction that may go 10% t may go 15...

Rates it makes borrowing more expensive so companies find it difficult to well it's more expensive to borrow and invest that money and that impacts impacts on the stock price as the era of cheap money may be over a question of i said before we run out of time is this a a correction that we have heard that has been predicted or is this the correction that is long over due yes yes or no is it the correction that's long overdue. the correction is certainly overdue and we were just waiting for some kind of a trigger that came from the bond market but i have to repeat again the speeds and the volat...

Cut, you see where it's going to get hit, and there is no plan to raise the debt ceiling. given all that uncertainty, come friday and today, markets hate uncertainty. everybody knows that a correction was coming, but it all came today and it was largely, frankly, that anybody expected. >> prosperity, higher wages, more people working does not cause inflation. i just reject that theory, and i think that there is a misinterpretation of what's going on in the american economy. >> hit pause there. i will say the one thing no one is talking about is the fact that that is skyrocketing in general and...

Were giving a full-time raise. >> the biggest company is walmart and walmart has -- almost a million workers are getting increases. they raised their minimum wage a dollar an hour. >> steve moore, erin is exactly right, these wage increases are very, very tiny relative to the corporate tax cuts. most of the benefits of the tax cuts are going and will go, and you look at the buybacks that are being scheduled and already underway, are going to shareholders and executives. the point is that friday's job report did show, and here, steve, is where you're absolutely right, did show an uptick in wage...