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After a huge move down yesterday. i'm not sure i agree we can say that this has been such an extraordinary bull market or that it's over. yes, it's true. we're up huge from march of 2009, but we're up hardly at all over the past 15 years. it's kind of depends on when you count, right? so i'm not so ready to call an end to anything. all that's clear is we had four days, today being another one, of intense market movement. for a market to open up 600 points one day, down 1,000 the next, on a $15,000 basis is a lot of movement. it's a lot of computers. we talked about that yesterday, but it's a l...

I think there was this emotional wave about china last week, yesterday, and today, probably investors are looking at the economic fundamentals and realizing that some economies are actually not doing as badly as some of the emerging markets, rebound in europe that is improving and so we expect a rebound in the united states that is still on a path of relatively moderate but solid growth. >> and so the fact is yesterday china saw an 8.5% drop in their stock market. today, another drop, and yet why is it different? i know you gave us a broad picture, but take a look at that. china almost 8% down...

China was a real growth leader up until a few years ago, posting double digit growth rates. that's fallen by about half, maybe from about 10% to around 5%. you can imagine when such a large economy slows that much, it's going to have repercussions. the stock market is a particularly interesting story there. it's not like our stock market, it's heavily managed by the state, and they really orchestrated a massive bubble in the shanghai index which has now gone through a very big correction. >> why did they do that? >> because their state-run enterprises, automakers and factories, they're owned b...

We're expecting today. >> hi, yes, jose. encouraging signs from china central bank in the last few hours. they cut interest rates and the amount that banks have set aside in reserves in tandem for the first time so far in the last world market selldown we have seen. this is encouraging because we also saw buying, bargain hunting by investors across the asia pacific. despite the fact shanghai wiped out its gains, you saw hong kong gain. this is how foreign investors buy china. so there is some bargain hunting going on, and the fact they have cut interest rates, cut the reserves, now frees up a ...

International comufuniversity. well known and has a lot of knowledge of the stock market and economics. thank you, professor. >> my pleasure. >> for being with me this morning as we wait for the bell to be rung. what are you going to be looking for? >> i'm seeing how markets react, but i actually think what happened yesterday is good news. >> good news? >> good news. you might not think so. here's why. because everyone knew that the bull market had to end. every bull market ends. we had seven good years. the fear was it was going to end in a big explosion. it's better if it ends a little bit, ...