FIRST AIRED: October 24, 2018

Nice work! Enjoy the show!


You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program
More Info

COMING UP:Share Opener Variant 1



>> US stocks on Wednesday plummeting, extending their recent slide. The losses felt deepest in the NASDAQ, which plunged more than 4%. Its worst one day sell-off in more than seven years. Dragging down the index Wednesday, tech giants Facebook, Alphabet and Netflix, shares of which finished down more than 9% just a week after surging on earnings.
The NASDAQ is now down more than 12% from its recent high hits just two months ago, putting the NASDAQ into what's known as correction territory. Reuters editor Alden Bentley talks about what's weighing on stocks.>> Today's really, I would say, the first sign of panic selling we saw, particularly in the NASDAQ.
The backdrop, really, has to do with a number of things. There's China tariffs. We had the beige book out today, there were 52 mentions of tariffs, and clearly, tariffs and trade are an issue that can be a negative for the market. Particularly, in an earnings period and now we're in earnings, and we've had a mixed bag of earnings.
Banks started out to being pretty strong earnings-wise a week or so ago, but we've had some disappointments.>> Like disappointing earnings reports from Texas Instruments and AT&T, both closing down more than 8%. The broader market suffering as well. The DOW sank more than 600 points. That index and the S&P 500 have now erased all of their gains for the entire year.