Transcript for Dow Futures Drop as Election Projections Come In
Clinton tracking a court how the election is being watched all over the world in court. The market center with the Keating a very close eye on because the uncertainty not great. A but their record RS. Joins us here to give us some insight into baton innocent. Fun Atlanta Jarvis an introduction well it's an a wild night as far as the stock markets are concerned around the globe right now we're seeing a sell off you haven't in Japan you happen in China and that is ours our markets are concerned. The Dow futures which indicate essentially where the market will open tomorrow. Are now more than 720. Points lower and to put that into perspective that on up quit basis would be a larger decline in. Then some of the declines we saw throughout the Great Recession would be a worst day for the markets aren't up week basis than the day after the markets opened following September 11 attacks. And it would put us essentially in line with where we were during the Great Recession at some of those daily declines. The S&P 500 right now is pointing out and that's the one that most of our 401 k.s are tied to. Is down almost 5%. In terms of the future so if tomorrow if these losses. Were to hold it would be a wild taper forum in case ironic wherever Donald Trump during the Great Recession saying it is important to buy on the dips. And there arson PL tweeting that back at me tonight have been really active on Twitter and there are people talking about that as well. The brightly coming into this. Wall Street was not anticipating. This scenario tonight and I I'm so much reminded of the brags it. Because so many traders didn't want to get hot flat footed they were reminded of the breaks that coming into this and in the brags it tougher for reference our market sold off in the today's actor 5%. And then it bounced back in June but a lot of the market. A lot of the market analysts this round are saying it's a different ball game. That things might not bounced back Barkley is for example is forecasting eleven to 13% declines. If trump ends up as they take it as the president now that that's the thing is and I and I want to make sure that this is clear. Wall Street sees this as more uncertainty. They see Donald Trump as the wild card. Whereas Hillary Clinton was largely seen as the status quell the predictable candidate. And the main thing that Wall Street is betting on tonight eight. Is that unpredictability. There's plenty more down the road that Wall Street will bet on. Whether it's a Donald Trump presidency or Hillary Clinton pressed aren't there things for Wall Street doctor king's what they'll attempt at Wall Street should do that you which Wall Street should take delight like tax cuts. Bulls only there's there's is there and there have been some on Wall Street some big. Mark efforts spends hedge fund managers who have supported Donald Trump. But what's been really interesting is that very few CEOs. Have actually come forward in support of Donald Trump even though he is the candidate who has advocated for tax cuts for. CEOs for corporations rather. And and a lot of them and I've been talking to a number of CEO's it's that unpredictability. Factor it's the uncertainty factor that. Really rattles them because when they're speaking about. How to prepare for their next quarter if they're not really sure what's gonna happen as far as regulations felony. NAFTA potentially getting renegotiated. TPP be not the table. That's a big question. I think that the term that you're looking for a loose cannon. Sir where it's good evening point digging by an honest guy who some people think it is not. Reliable having his finger on the nuclear codes that got to think well there's that and there's also that he's been changing his positions that is renditions have not been consistent and it's and a grab bag it's not. It's highly protectionist and it's not entirely free market he wants to raise taxes for example on hedge fund managers he's against united the trade deal. But at the same time he would like to lift regulations when it comes to the EPA. That would lower the cost of energy be great for the manufacturing sector is steel sector so I didn't Donald Trump his economic plan. That in of itself. It's sort of unpredictable and it doesn't follow sort of predictable conservative free market and roaches and there's a lot of spending in the plan as well which is completely antithetical to what most Republicans would put on the table and it. And part of the reason Hillary Clinton is trailing right now and where it's always been sort of the anchor around her campaign is that she goes represent the status quo. But she has been predictable. That she used more with same old same old and Robin make there was some people in some industries figuring that comforts are obviously received tonight that the American people. A lot of American people want something different they don't want the status quo and they certainly didn't like it when they found out that she told a group of bankers that she has one position private. And another position and public I don't think about when her a lot of support on that trump dozens well you just do the broken public. Got to get power back as somebody who covers the jobs report every time every month we get that out. You can see and really feel how this country is really dividing in terms of how they individually how people individually feel about their circumstance we've had. A massive. Gap in wealth in this country the top 1% is getting a huge share. Big gains that this economy has seen. Also keep in mind while the stock market has largely been up in the last couple of years. Most people were I should say a lot of people are not feeling that they're not invested they don't have 401 -- they don't have retirement savings accounts. So even now on a lot of areas were seeing for example unemployment now four point 9%. Which is better than it was before the Great Recession it's still a big issue for the people who are on the lower income earners and the lower middle class earners who have not seen their welcome back since the Great Recession has. Does it have been presenting because there is important data point out of Arizona where sheriff Joseph Arpaio who had been talking about extremely. Controversial sheriff in the state of Arizona a lot of people are familiar with him he's been a big. Trump supporter he has lost. In his bid for re election. Now this is potentially a really important data point because the word has been that Latinos turned out being to unseat this guy. And one could logically surmise that that may also vote against Donald Trump. Who said some things about their community that and that they mean I'm like here at the polling Booth yeah yeah. Are. It just for the Fredette for the political pros here will what do you make activists thrown out one potential analysis of the of the Arpaio defeat what do you make of it. He. What don't seem exactly the counties for instance it right exactly what they were involved devotes it's hard to tell. Whether or not this is a true reflection of how it happened statewide or just happens to be an urban area where a lot of Latinos are located. So without the counties in front of me I don't want to give too much and so what I will say if you were on the Hillary Clinton camp and you hear this news it is ludicrous our beliefs because I think a lot of people thought this rates would have been decided. Rank and we're sitting here waiting to see what the midwest is going to do which is not near Tibet Clinton Campaign thought will be having a disparity eat next so at least here in its fifth. Someone who has had rhetoric dirty some it's Donald Trump go down in Arizona. Got to give a brief aside release saying hey may we have a chance to some posts here. Luckily some of the folks who thought they might know what's happening by an out any hope even print headline writers over USA today we got a lot pictured are bringing now it is pretty cool they've already started printing tomorrow's paper you can see the headline there trumps strength makes for close contest well logic many adolescent Gisenyi. Yeah. The mayor says he did he do. It's got elements from The Daily Show a couple of years ago witnessed this there was the hosting one of the reporters went to the New York Times and held up. The newspaper to the editor in said is there anything in here that happens today. I thought so that we need new editor US today is Superman yeah object and I agree. That's the only reasonable I. So I got. Her hands and just sorry to chime in but just to update you now Dow futures are at their lowest point of the night down more than 750 points so it's looking. Like you're gonna continue to see this throughout the night. Do you think it'll snap back its all of a sudden we see her and take home Arizona and these midway. I do I do think that essentially it will absolutely snapped back if she pulls it head winds I think they're right now. The risk on position that that so many traders are worried about. Getting hot flat footed like they did in the brags that that I don't think they're going to be you know snapping back. A hundred points or something like that all of a sudden she pulls ahead in one area but you might not see things down as migrant proverbial fat lady needs to send. Right exactly 30 yeah over over O yeah yeah and the Mexican peso is also down 11% this morning. Actually what is definitely clear regardless of who ends up winning. Is that the scenario that you know reportedly a lot of current GOP insiders were hoping for clothes that Schwab who lose Brett grant's life. But doesn't appear to it was going to be what happens what does that mean going forward even if he loses that needs to be pieces of the rhetoric that we hurt and 26 to any. Made repeated with a different nuance in 20/20 because there's something bear there's something that is translated into votes and you had a more polished candidate. Perhaps. This will be a victory in a dead vessel early demise to win tonight we're at with the rhetoric as it has put it deep does lose Arby's uterus something bear. He hit a nerve absolutely what interests economic insecurity. And national insecurity and it Rasmussen Reports you know we we found that of the number one issue overwhelmingly for voters across the spectrum once economics and of course personal economics and kitchen table pocketbook economics and Donald Trump which his message about up you know making America great again but also being America's interests first. I think really resonated whether or not. Opposing the trade deal puts America's interest first. I think it's quite debatable but for a lot of people who saw other jobs go way and not coming back and finding it harder and harder to find the next thing. I think it's it's going to be a group of people that we need to and we need to look to the apple. That somebody you know here go away and that it Jarvis. Are there are UK. Italy will get you back we be with another update on the market as the evening bridge. Thank you for coming out we really appreciated thanks.
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