Market futures down this morning putting a stop to that 2013 rally worries in Europe. That is the reason the Dow and the S&P took a bit of a tumbled to tell us why the Euro zone is so frazzled at... See More
Market futures down this morning putting a stop to that 2013 rally worries in Europe. That is the reason the Dow and the S&P took a bit of a tumbled to tell us why the Euro zone is so frazzled at this point and breakdown the other business headlines for this Monday wanna bring in Jeff -- got finance Jeff good Monday morning to you sir yeah I was -- Saddam -- -- how -- -- depends on how your -- it was I suppose. Let's get right to what's go to the Euro zone. Well we had Cyprus now most of American school students confined Cyprus with an hour -- the thousand -- on -- globe. But it's when they do in the Cyprus banks was the country and Euro zone decided they were going to. Go ahead and grabbed 10% of all deposits in -- Cyprus banks. For anyone with over hundred cave bears might imagine. Folks weren't that happy about it and we've seen a little bit of a run on the banks in Cyprus before the government -- -- grabs at 10% to crazy decision -- We are let me ask this did you -- -- was there with a little bit -- -- run back to me any time you hear those words. I mean -- there is the possibility that panic could then spread throughout the rest of the Euro zone. I was sure you know it an ideal dispatched comes way out of left field near -- and -- daily savings and -- we're Jimmy stores and they're all your real money is not here. That adds. They can't withstand this type of pressure and the idea never occurred to anyone else -- gas and the heroes on that the country could just by -- decide you know what. We're gonna take those deposits and we're going to apply them to the Cyprus -- And that's gonna take care of problems in Europe the united -- sends ripples. The route not just Europe but the entire financial system because JPMorgan has little bit betrayed your city -- trade their Goldman -- -- trade there. No windows -- kind of exposure they're getting and so everyone -- to safety. That as weird things trading books and you don't know what's happened and that's why the financial sector is getting hit today giving -- perspective and I just a year you -- the Cyprus obviously a lot of people are not familiar with the island -- country. But how much -- they contribute to that seventeen country Euro -- One half of 1% -- a very -- contributor. They're actually smaller than Rhode Island -- -- -- about the economy size of Shreveport Louisiana now settled yet you're talking. I'm not sure what kind of Campbell these guys went when they -- the water but -- for a country that size to send ripples throughout Europe. Again the three stupidity of this decision for wanting a better word is orders of magnitude about anything we've seen so far -- -- sound and that's saying quite a bit. Arts want to bring it back -- -- US future regulators are looking something called. Watch trades what he is what is -- watch straight while us and we spark incidents and investigation. Well wash trades it's a way to get Japanese high frequency traders that you hear about those relief -- -- -- -- -- really super fast computers. That are trading back and forth and just trying to get half a penny. On these trees regulars have been looking for a way to get out these high frequency traders because it's not relief fares -- -- -- human element and that. The wash trade -- I did get around point eventually. It's just -- -- Cooper traders buying and selling the same asset want to makes looks like there's a lot of volume make manipulate the price. And that can get folks are real human beings getting long on false information so it's I'm not sure -- laws against the right now. But they're certainly looking into enforcing. Those laws to make a market a fairer place for mom and pop out there that's really the goal -- any regulation museum Wall Street is to instill confidence. And the folks at home that they can invest in this without getting fleeced likes native residents of Cyprus -- Bringing it back bringing it back over Europe I'll talk -- but this morning not a Wall Street Journal and the Justice Department right -- Wall Street Journal. Owned by Rupert Murdoch and news corporate and of course they had a phone hacking scandal in Britain made its way here the United States and about -- the Justice Department. Is checking up -- as the Wall Street Journal. -- that China bureau had some bribery going on. Yeah apparently so are out of the allegations are that -- matters you've laid out the -- bureau is is thriving some officials to get kind of -- on these stories. To figure out what's happening first now this is a problem that a lot of American companies have when -- go abroad. Sometimes that's just the way business gets done the Chinese now have been part of -- our computers that -- unfair trade -- trade regulations they've got sweatshops happening. And -- ago there and -- start bribing Chinese officials of the Wall Street Journal. The Department of Justice battery careful about what they're after here because we need a level set -- playing rules. Now the Wall Street Journal there there it's the Department of Justice that looked into it they haven't seen. Really any smoking guns at the -- denies having done this I'm not sure what happened over there but -- boy you can get and what really caught up in litigation. -- for the Wall Street Journal and -- and it might just be business as usual. As crucial latency HSBC. British bank there cutting 5000. Jobs and it's up for eyewitness -- -- -- that this is a pretty significant. There's a big one there are some problems and you need to US HSBC but. Really we've seen a lot of cuts in the financial sector -- that has been absolutely no part. Of the employment story that we've seen the state so far -- employment is getting better bank -- continue to happen these things and we continue to adjust the size and nature of our -- And the way to financial crisis and given that uncertainty. Those banks are trying to make earnings numbers and with their business smile man there they are pretty -- happy. And there are still cuts be made and so you're saying these things these massive massive layoffs 5000 people from British economy's not doing that well. This is yet another -- commissions for about men and actions I'm being nice to clean up -- -- -- and we certainly precipitous it is apparently show after all just Zack Carr and listened to this story caught my attention I was kind of blown away by this. But if you're looking to book your next vacation North Korea. -- If this -- -- big. I don't think a carnival cruise line. Currently and it's on -- trip. Brad say it's a great package American just float outside apparel and for over a few days resigned Dennis Rodman over there. As you know he's a magnet for tourism everywhere he goes. I'm not sure this is what 500 people or something like that -- and an area that essentially it is quadruple there or quintupled their a lot of people of -- allowed into the country now. Do you think and I have to come up with some attractions I think beyond just underground testing and militaristic and marching or whatever -- -- actually do over there. Pictures gonna work -- they have 500 tourists are there why not new Wall Street Journal go over there and Starr's friends and -- around. Fascinated powered up the power of the war one last look at the big move -- -- -- The Dow is down about 85 points at 141429. Jeff MacKey thanks -- have a good Monday. Absolutely -- to him.
This transcript has been automatically generated and may not be 100% accurate.