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tv   MSNBC Live  MSNBC  August 25, 2015 1:00pm-2:01pm PDT

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trading. throughout the day we saw the dow rallying in triple digit, bouncing back from a three day rout. including the most dramatic point drop every in a market trading day on monday morning. but after being up more than 440 for a sex hission high earlier today, we are now down. listen to it. all of this coming even more steep losses in the chinese markets today. are we out of the woods yet? we want to begin with sharon epperson. it was a rebound early in the day. looked like we were going to be out of this trouble at least from what we saw yesterday. but with a steep drop late before closing, what happened? >> we are looking at the dow, the s&p 500 and the nasdaq having wiped out all of their gains after a big rally this morning. a lot of traders saying the
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market couldn't sustain the momentum earlier of the day. all three averages up at least 3% at the highs of the session. now they are all in the red. the biggest reversal to the downside we've seen since october 2008 during the height of the financial crisis and the first six day losing streak for the s&p 500 since july 2012. really remarkable considering the day started so promising. we had seen the dow up over 441 points at the height of the session. and that was due in part to news of china's rate cut. but there is still a lot of concern for the outlook of the world's second largest economy. and we're looking at all of the major sectors in the market, lower. only consumer discretionary stocks have been able to stay a little higher led in part by netflix and amazon. now the dow t nasdaq and the s&p 500 are on the decline, closing lower for day. the worst month we've seen for these major averages since 2008,
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2009. many investors very rattled by the markets that we're seeing. but the financial advisors, the wealth managers saying it is important stay the course and stick to financial plans. >> yeah, you were talking about some of these days and some of the records. you know, the six day streaks. the longest since 2012. you cited a few other dates. let's talk particularly about what we saw today. i mean, how rare is it to see a rally this big in the morning throughout the course of the day and then really drop this quickly within the last -- i'd probably say in the last 90 minutes that i've been watching it, that we're in negative territory. >> again, many traders are saying, you know, we -- the statistics show we haven't seen this since 2008 and many traders are saying, and investors are concerned, is this like the financial crisis? the market watchers, the experts in the markets are saying no, this is not the same as the financial crisis. we are not headed for recession here. this is largely due to something that is more of a external effect. it is our reaction in our
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markets to what is happening in china to concerns there. and that's really what's been driving the volatility here in addition to what will happen here with the federal reserve in terms of what they do for interest rates. >> sharon, thank you very much. the dow you are seeing there still settling. about down about 205 point. let's bring in the rest of the panel to break this down. joining us is the former chairman of the council of economic advisors and economics professor at university of chicago's booth school of business. chief economics commentator for the "wall street journal," and columnist for yahoo finance, rick newman. austin, how do you rate today's last minutes in light of the tumult use few days that we've been seeing. >> i think it is a false analogy to look at 2008. fundamentally this is being driven by economic problems outside the united states. where 2008 was a problem of our own creation. but i think it is unrealistic to
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think that the u.s. economy is just going to ignore if they have a flat out melt down in china that that is not going to affect us in a negative way. i think something like that could easily push the u.s. towards another recession. not a huge one. but to see this kind of volatility and this kind of decline when the second largest economy in the world is really facing, kind of an epic hard landing, i think is totally natural. >> today what happened, the big swing throughout the course of the day. a lot of people still seem very on overage the course of what's happening over the last week. what should investors make of the strong show early and then the faltering towards the end and the lack of resilience? >> you can never call a bottom. you never know that until months later really. we've all been hearing there is going to be a lot of volatility in the market and we saw it today. and it is not entirely i unusual to have a selloff like this late
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in the day. we probably wouldn't have even noticed if not more the turbulence. but buyers sort of evaporated today. nobody wanted to buy after shares went up a little bit and probably you had big institutional sellers and mutual fund holders and folks like that saying we're going to take advantage of this rally. prices went up from yesterday. we want to get rid of things. so they sold into the rally and that flattened out the outcome. >> we're talking about china this morning. chinese markets opened again continuously low. the chinese government trying to do what it can with adjusting a little bit of the interest rates in that country. but it seems that what is happening in china is still not cemented. are -- settled. are we expected more? >> possibly. but you have to make a distinction between the trouble in the financial markets and what is going on in the real economy. i think the chinese communist party is discovering to their dismay there is something out there even they can't control.
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that is the stock market. at the end of the day does it tell us the china keconomy is i trouble? i think the answer is no. they are looking at the slow down the a growth of at a minimum of the 4% and even if it slows down to that much, u.s. exports to china are so small that it is probably having little impact on the u.s. economy. just this morning we discovered that consumer confidence bounced higher in august. it was a good month for home sales. so i think that we are -- it is right to be a little concerned about what is going on in the rest of the world. but thus far i think this is mostly a market event. it is not an economic event. >> also you eluded to the notion that this could be a possible recession on our part although not a serious one. put this in perspective in terms of our own economic recovery here at home? is this a blip? a warning sign? houmd how would you characterize it? >> thus far, blip only.
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and hopefully it remains that. if greg is right that the financial market in china does not translate into a full blown recession or hard landing, then i think it would be a loot lot like the asian financial crisis of the late 90s or the big nordic financial crisis of the 1990s where major tumultuous financial events take place in the world but it doesn't derail the u.s. from its otherwise growth path. i would just raise this dark cloud over that you have had a really substantial rise of debt and borrowing in china. and that is the kind of thing that leads equity bubbles to translate into deep, horrible recessions in the real economy. and that could happen in china. >> some have been saying we're in a dysfunctional partnership with china economically. you are certainly hearing that on the campaign trails.
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is that at the root of this in the sense that it is behind what we're seeing today, the partnership between the u.s. and china economically. >> i don't think that is the root of it but certainly an overlay. we've had situations where countries whether mexico in 1994 or japan in the early 90ed when they got into trouble that cast a problem over the global economy. but i think the distinction is number one is china's size. it is much larger than mexico. and the geostrategic thing. even at the worst point the point of relations between the u.s. and japan nobody ever questioned the strategic relationship between our countries. whereas with u.s. and china is fraught with other concerns and mutual security. the south china sea. i think if we got into the dark situation that austin is talking about that would make the type of international cooperation so critical to deal with crises in the past much harder. >> thank you very much for joining us.
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we're going to be watching this as well throughout the course of the hour and tomorrow as well. now to a hot story developing this afternoon. a public fight between donald trump and fox news. we thought a call between trump and the head of fox news buried the hatchet after trump went after fox anchor megyn kelly for what he felt were unfair questions. last night it seemed renewed. trump took to twitter with a series of tweets questioning her ability, saying her show was much better without her. that she should take another vacation and that she was quote, really off her game. this afternoon the chairman and ceo of fox news released a statement playsing kelly's professionalism and class. saying in part megyn kelly represents the very best of american journalism. donald trump's surprised and unprovoked attack on megyn kelly during his show last night is
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sas unacceptable as it is zusstus disturbing. trump said i disagree. hopefully in the future i'll be proven wrong and she'll be able to elevate her standards. joining me no from iowa where trump will speak tonight is kate tur. thank you for joining us. let's that you can about this. it caught a lot of people by surprise. why would trump renew his war with fox after they seemed to have buried the hatchet? >> i don't think it's really catching people by surprise. i this i trump needs attention. i think he thrives on attention. i think his campaign is starting to feel a little humdrum lately. there is a definite loss of energy surrounding what's going on with him in the past few days after what we saw in alabama. although it was an amazing turnout. 20,000 people the most that any republican candidate has been
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able to get so far and no knocking him for that. but it wasn't quite as big as they were expecting or hoping. when you saw the visuals of half of that stadium not philadelphia to capacity and then donald trump avoiding the media afterwards. i think it took a little bit of air out of the trump campaign which is what he's used to doing for everybody else, so i think this was a calculated move on his part to get out there and try and stir the pot again. drum up some controversy. and he knows that megyn kelly is an easy target for him. there was a lot of controversy and he went back to it. why he did it again? that's up to him. i don't think it's particularly surprising at the moment. i don't think that many people find it surprising. what is interesting and what will be the question now is whether or not he's going to be able to appear on fox news again until he apologizes but i wouldn't expect an apology. >> let me play this sound bite from trump first. and i'll get you do talk about
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some of the focus you have been talking about there out there. >> it's fiber. you know it's fine and fox has been fine. roger ailes is an amazing guy. they have been very fair. >> so he's characterizing the network as fair. although he did take the shot at megyn kelly in particular. you are out there in debuke. how do you think iowa republicans are going to react to this? who's side are they more likely to take? >> well that remains to be seen. think there are a lot of people out there who will take his side no matter what. they see him as antiestablishment. they willtake just another example of him being antiestablishment because fox in some ways is the establishment for the republican party. and there are those who side with fox and side with what they believe and will look don down on trump. and i think there will be quite a turn out. and i think when you talk to people, they like when he says what he thinks. and the megan kelly stuff didn't
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hurt him. people might be bored of it at this point but being bored is more of a threat than people being oochbded by it in terms of his supporters. coming up, trump's also starting the political fight with jeb bush. and will joe biden run for president . >> and new developments in paris. today an official terror investigation was launched. we're going to be live in paris with the details. she'll log in with her smile. he'll have his very own personal assistant. and this guy won't just surf the web. he'll touch it. scribble on it. and share it. because these kids will grow up with windows 10.
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it is not just fox news that is the target of trump's attacks. also on fire today, jeb bush. bush was back on the trail addressing veterans at the town hall meeting in colorado. and it wasn't long before he was taking shots at trump. >> i'm not a talker. i'm a doer. there is a lot of really good talkers running for president. and there's one in particular i'm thinking of. mr. trump believes that you can just round people up. and that it is just an easy thing to do because he's a successful guy and you will just have successful people do it and it will all work out. >> at the event what bush was also confronted by one question over what many are describing as his latest gaffe. he said his use of the term anchor babies was quote, frankly a more related to asian people. >> i was talking about a very narrow casted system of fraud where people are bringing children -- bringing pregnant women in to have babies to get
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birthright citizenship. i appreciate the comment. but i'm 62 years old. when i was 17 years old i fell in love with a mexican women. and. >> earlier those comments had been seized upon by donald trump. who tweeted asians are very offended that jeb said anchor babies applies to them in order to be more politically correct to hispanics. starting with you joe, is this a smart strategy do you think on trump in terms of what he's doing? dragging jeb bush into this? >> i think donald trump is very smart and he really understands social media and he's constantly tweeting and constantly talking to his audience. he's constantly keeping things stirred up. and that is the way you stay in the news. earned media. and he's getting lots of
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ive. and he's very very smart to pick his fights carefully and then to say what he wants to say. he's best when he's unfiltered and he's unfiltered every day. >> do you think it is smart for jeb to get sucked into that? and to respond? or should he not and just ignore it? >> well jeb is a great candidate. and i think jeb's best bet is just to remain presidential. i wouldn't necessarily play the other guy's game. donald trump is excellent in what he does. i think jeb bush doesn't need to change who he is in order to deal with donald trump. certainly he's a jeb -- jeb bush has proven that he's a tough guy. he's a smart guy. he means what he says and he says what he means. but he should just keep on being jeb. he can respond to some of the charges but he shoutick to his battle plan. >> the "new york times" reports about bush's strategy that it is two fold. on one hand to dilute mr. trump's right wing support proving he's not a genuine
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conservative and to show the party that mr. bush is enough of a street fight tore survive the contest. is that also the goal here to show voters he is on one hand capable of rolling up his sleeves, capable but at the same time a man of substance and policy. >> it is interesting. because if you talk to people around jeb bush in florida, he had this theory of the case going back even before he ran that the party would come to him in theory as an establishment candidate who can be credible and win a general election, if let's say they nominated someone like a sarah palin. i think that the jeb bush team has always been set up to run against a more gadfly type of candidate who they might have presumed would have been rand paul or someone other than donald trump. so i think their basic strategy remains the same. which is that jeb bush is going to establish himself as the ingoing establishment favorite. and then back into proving the base to the more populous based
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that they can trust him. but that he's also tough enough to take on trump. where the other candidates have been flailing is that they have been trying to swing at trump and either missing or getting hit back harder. >> and there seems to be a little difference of opinion here from the republican party. the rnc chairman said over the weekend that trump's presence in party and in this race is a net positive. but today lindsey graham who's also running for president disagreed. take a listen to what he said. >> the policies that mr. trump is proposing are demagoguery, his approach to describing illegal immigrants are hurting us with hispanics. the way he attacks women is going to be a death below. donald trump is not going to be the nominee of the republican party. if he is, that is the end of the republican party. >> those are very sharp words there. i want your words as a gop strategist. is donald trump a net positive ar a negative for the republican
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party. is he the end of the party if he does win the nomination like lindsey graham suggested? >> he's not the end of the party if he wins the nomination. a as a matter of fact he probably brings people to the party that may not be in right now. i think he would be a good opportunity for the party to have a broader tent than it currently has. i don't agree on that. lindsey graham is a smart guy. he's running for president. he knows one of the best ways to get in the news is of course to talk about donald trump who is leading and to disagree with him. so lindsey graham is welcome to his opinion. a smart guy and seasoned u.s. senator but he's also a candidate for the presidency and running against a very sharp candidate in donald trump. >> there are also new polls that suggest if you will like a divergence of numbers. on one hand, you look up there, it is on the screen. south carolina republican primary. he on one hand trump is getting a 14% favorability rating among hispanics. but at the same time the new poll finds him doubling his
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nearest opponent in south carolina. are those two related? >> here is the thing. i think the thing he's bringing to the party are people who are attached to the party but are conservatives or conservative leaners who are not paying as much tx to politics. what they like about donald trump is the rhetoric that he is offending hispanics with. the receihetoric he's putting o there appeal to nativism. and people who blame immigration and what they see -- they think there are a lot more than there actually are. and that is what they blame for their own economic problems. people who are disgruntled with the republican party the establishment and the idea of immigration period and who aren't getting reinforcement from their own party for that point of view. that is who he's bringing in. i think he's winning precisely
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because he's putting forward that nativist platform. does that ultimately help the republican party? no. in a general election he's going to put a huge black tarp over the party with not only hispanics but now asian voters as well. it is terrible for the party but good for him personally right now. >> the trump show continues tonight. thank you very much for your insights. coming up p one of the three americans being hailed as heros for thwarting a paris attack is heading home. plus new details on the suspect as french authorities announce an official terror investigation. and what would a biden/clinton showdown look like? to folks out there whose diabetic nerve pain...
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before december 2015. defendants will get new options for dealing with cases such as payment plans and community service. changes come five months taf justs department criticized ferguson for disproportionately targeting black residents for minor violations and piling on fines and fees. now to france. they opened a terror investigation today. the paris prosecutor said there was, quote, clear evidence of the terrorist intent. we'll have much more on the charges later in the hour. but first more information on the hero group of american whose helped foil the attack. one of them anthony sadler left paris this afternoon and is now on his way back to the united states with his parents and a fourth american who confronted the gunman is recovering in the hospital in france. >> there he is. [ applause ] >> a hero's welcome for spencer stone and alek skarlatos.
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an impromptu honor guard. more than 200 airpla hu200 airm families cheering them on. french american, mark moogalian. tried to warn other passengers and was shot. it went through him. and spencer stone helped him live. >> i felt what felt like the artery and put pressure until the paramedics got there. >> it was painful to realize what he did and how he stepped in without even giving it a thought. we couldn't be more proud. >> moogalian, recovering at a french hospital will also receive a meddle of honor.
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>> the tributes keep pouring in. a parade in sacramento, another metal for spencer stone. stone was in an air force medical operations squadron. he was trained in trauma care. right person, right place. right time. back to you. >> nbc's kelly, thank you for that. coming up. new details on the suspect. including new evidence to lead prosecutors to believe the attack was terror remlated. and joe biden. plus call it the million dollar trip. one teen's visit to an art gallery takes an unexpected and very coastly turn. what hopping is illustrate ahead with four sizes that you can switch at any time. small... medium. large. and extra large. if you need less data, pick small. if you need more, go with extra large.
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. authorities in france have charged with a terror attack.
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the 25-year-old was disarmed friday night by four american passengers on a train from ams da er dam. amsterdam. joining me now live from paris is nbc news correspondent. what more did the french prosecutor reveal today about the suspect in this attack that led him to believe this was a terrorist attack in nature? >> well they described the attack and attacker in detail. they said that the attacker chose that train specifically. he got on the station in brussels and he was offered two earlier trains. but no he wanted that train specifically. paid 150 dollars for a first class ticket. so for some reason he wanted that train. then we got on the train we know he went into the toilet.
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he watched those videos in which they were inside. and then he came out shirtless with a specifically the weapon was a short kalashnikov. an assault rifle. he had nine cartridges, carrying. 270 rounds. a hammer. a 9 millimeter pistol. a bottle full of gasoline. it was an arsenal. enough to carry out carnage. and of course they do not believe his version of events and his insistence he was there to just rob the train. they call that pure fantasy. >> you brought up the point he was saying he tried to rob the train but the prosecutors going forward are going to have to now try to prove clear evidence of terrorist intent. how hard is that going to be for prosecutors? >> well they have a few elements there. they have proof that the man, the gunman traveled from berlin,
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from paris, to istanbul, where they are also trying to figure whether he also tried to enter or if he did enter syria, if he got in touch with the islamic state. well the fact all these pieces put together are already strong evidence this man certainly did not want to rob a train. you don't need an arsenal to do that. you don't watch jihadi videos before you do that. but certainly they believe that they have evidence to charge him with these three charges at least, attempted murder of a terrorist nature. possession of weapons, of course. and the participation in a terrorist organization. he'll also have to answer of course of the attempted murder of mark moogalian after he shot him in the back ayman. >> thank you very much. joining me now is senior analyst with flash point global partners. and director of the washington institute stein program on counterterrorism and
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intelligence. let's begin and talk about the prosecutor. the french prosecutor said that he had watched a jihadi video and had, you know, the motivation to carry out an attack he described as pre medita meditated. do you think the prosecutors have a case to link him to what we consider as global jihad terrorism? or do you think that is going to be tough? given what he has described. >> i don't think all the elements are clear yet. but obviously some are. and the mere fact he was watching some jihadi videos that urged violent jihad to be carried out that he was armed and about to carry out some sort of attack would lead them to believe he had intent to carry out a terrorist attack, meaning with a political motivation. of course it is very difficult now to ascertain whether he actually entered islamic state territory. he reportedly travelal to turkey. might have been in touch with isis recruits there. the elements are still unclear.
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they have to conduct digital forensics on any kind of electronics he might have to see any further links. >> and given what we know about the suspect so far. he lived in several european cities. jailed numerous times. travelled to turkey and possibly syria. what is the best way do you think for european countries to stop this kind of person from launching an attack? >> tremendous difficulty. the shear number of cases that are going on in europe in a space where traveling across borders is very simple, makes this very hard to do. authorities in spain, france, belgium have already in the days since this particular episode acknowledged that they have many, many cases. this is a known individual. he had been given an "s" file, meaning surveillance because of his ability to across borders and someone who might be an extremist. and you just don't have the resources to cover everybody
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24/7. which means they have to be much more aggressive in moving the needle earlier in the process and trying to enter into an investigation long before someone gets to the point where they might actually carry out an attack. problem is what threshold will they have then for holding someone on just extremist talk or behavior online. >> and we talk about this point a lot. we have looked into the profiles of many of these individuals. when you look at the profile of someone like this. he's had a lot of trouble with the law, runnens with the law. alcohol and other issues. doesn't seem like the profile of a determined terrorist in the sense of what we think of someone who's coming to actually carry out what we call a political terrorist attack. and i'm curious now as the profiles come to light, does it change the dynamic of who u.s. and western intelligence should be looking for? and how do you even safeguard against people who may be completely below the radar and get rad catalyzed in a short
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spanned? >> most individuals are self radicalized. but we see a trend with those in europe that have run-ins with the law and maybe they got to be disenfranchised and disinherited with their life and found a passage in the religiouswell, if you will. but they found it through the isis lens more than moderate muslims. in this case we can't ascertain how radical this individual was but certainly he was under the radar of authorities especially in spain, who alerted a number of european countries about him last year. so we -- authorities can follow a trend and see if an individual has been watching, you know, jihadi videos and purchasing weapons and so on and so forth in order to zoom in. >> and finally a lot of concern about folks traveling to turkey and syria and ultimately getting
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into the those places like iraq and syria and then coming back. i guess is there more of a concern that these types of individuals who may not have an organizational support behind them are much harder to detect? that they don't have any traces as they travel abroad? or do you think that the threat in europe and the u.s. is in the all time high because of the fact they can keep such a low profile as they travel? >> look the threat is certainly high. but it is just different. the fact is the type of trip wires we used to put in place back when i was at the fbi following the money, following communications following travel aren't as available when dealing with lone offenders who have not necessarily traveled anywhere. though this individual did. have not necessarily sent or received money. aren't necessarily in contact with known terrorist suspects and the sheer number of people who would fit into this wider category is so large that it puts tremendous onus and pressure on intelligence and law
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enforcement. so we have our job cut out for us. >> we're going leave it here for now. thank you gentlemen both for that insight. up next the joe biden rumors grow. what is president obama saying about a possible biden run. and also we'll go back to iowa where donald trump will speak tonight. you are looking at two airplane fuel gauges.
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the question everyone has been asking, will joe biden run for president. today he made his first public appearance in weeks, attending the funeral for former congressman louis stokes in cleveland. a rumor the vice president's office has label as speculation. meanwhile the washington post reports that top obama fundraisers have been invited to biden's home for the private meeting in the coming weeks.
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joining me now is my panel. what is your sense in washington? you are much more plugged in than i am. do you think this is going to happen or not? >> well keep this in mind. before mitt romney announced he wasn't going to run this time around, all of his advisors were saying he was 90% in. you know, you have to say that you are 90%, 99% in or else people stop listening to you and the conversation moves on. so as long as he has a slight inkling he might want to run he has to make gestures that make it look like he very well will run. and what he's going to do is watch hillary clinton over the next several weeks and maybe even month or two. i could see him waiting as long as october and make an announcement. >> is that what people are hearing that he is considering this still? >> no question. you know, i think the chatter
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might be a little higher than the reality. but he's doing everything that would indicate that he's planning to jump in. >> and you have a new piece suggesting that biden's wife jill remains hesitant about a biden run. what else would hold him back do you think besides personal considerations? >> i think if he talked to a lot of the donors and he got the sense that the money just wasn't going to be there. he has never throughout his entire career been a good fundraiser or been good at at building a fundraising network. that is a major problem. the second question is just politics. he thinks that he's mr. mainstream, mr. middle class guy. he can make the argument and how does he beat bernie sanders on that front and do they start dragging up everything he did for the credit card -- makes it hard to distinguish himself at that point from clinton. >> i see you taking your head. let's talk about that. political reports that elizabeth
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warren's backers are lukewarm towards bide p's possible candidacy. does biden have a natural base? and what he's he going to run on? what's going to differentiate him? >> great point. biden does not have a natural base. he doesn't come from one of the early state likes iowa, hb hn oar south carolina. he comes from delaware which in addition to not being politically strategic for him is not exactly politically important in the long run when it comes to electoral votes. so you have that. i think the problem for joe biden going forward will be finding whatever coalition he needs to win a primary. i'm sure as he's sitting down with donors and political strategists right now. he needs to find where he can cobble easy these 5 and 10%s everywhere and it is not going to come from the elizabeth warren wing of the party. in fact they aren't exactly best of friends in the senate. as ryan pointed out he hails from the state of delaware which includes some of the largest
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banks in america. not exactly elizabeth warren's favorite thing. >> i want to play you what obama had to say about biden and clinton in the spring. take a listen. >> i've got somebody who i think will go down as one of the finest vice presidents in history. and he has been as i said earlier a great partner in everything that i do. i suspect that there may be other potential candidates for 2016 who have been great friends and allies. you know, i know that we've got an extraordinary secretary of state who did great service for us and worked with me and joe. to help make the country safer. >> does a biden run put obama in a difficult position here? do you think the president is going endorse biden if he ran? >> not immediately for sure. and i don't think he'll make an endorsement that will drive the election one way are the other. i think if one pulls away could see him getting behind them.
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that is why i think josh ernest would say something like i wouldn't rule out the possibility of an endorsement. if clinton is looking to wrap it up i could see the president then saying i'm throwing my weight behind hillary clinton here. but i don't necessarily see him trying to push one or the other. >> really quickly, does biden get in? >> i think right now he is running like he is. when you are running for president it is such huge operation. you are running until you are not. i'd say more likely that lly t will get in right now as of this week. could change my next week. >> ryan, one word yes or no. >> why not. >> that's two. up next stocks try to recover following monday's brutal selloff. and kbhou never know what you are going to get when you open a you have to be butter in one woman's case it was apparently donald trump.
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now for some of the other stories popping today. does this look like donald trump to you? well that is what one missouri resident jan castellano saw when she opened a container of butter over the weekend and saw the gop front runner staring back. i can't believe it's not butter trump. maybe that is a sign. and bruce springsteen's landmark album turns 40 today. he was just 25 years young when he wrote it making all of us feel really really old. especially our floor manager. and a 12-year-old boy at the museum in taiwan tripped and broke his fall with a $1.5 million painting. it is a 350-year-old painting called flowers. according to the exhibits curators the boy's family will not have to cover the costs of the restoration. luckily that is not my kid.
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back to a top story. volatile day on wall street. a surge and late day selloff into negative territory. here is hampton pearson with the market wrap. >> we had a dramatic turnaround for u.s. stocks in the last hour of trading. the dow closing down 204 points after rallying as much as 441 points higher earlier in the session. the s&p ended the day 25 points lower. the nasdaq off by 19. that is it from cnbc first in business worldwide.
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marieto roll out aknows perfectly flaky crust that's made from scratch. or mix vegetables with all white meat chicken and a homemade gravy. but marie callender's does. just sit down and savor. marie callender's. it's time to savor. two hours from now donald trump will speak in debuke, iowa. joining me from iowa is casey hunt. casey, i guess it was a surprise to a lot of people but what are you hearing about the latest fight on the ground? >> well ayman, wire waiting for the people to come into this event venue here in debuke.
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they are waiting outside already to hear trump speak. but i think that this feud, the resurgence of this feud in what seemed to be unprompted on donald trump's part on twitter last night and responded to very forcefully from roger ails, a move we did not see happen previously when trump initially went after kelly in front of the debates. but in some ways there are some republicans that i've talked to who she this as an attempt to recapture spotlight. suddenly we're back focuses on fox news and donald trump. but this is one of the first times trump has really been under attack from multiple sides. jeb bush is criticizing him repeatedly stop after stop. of course bush has gotten himself into his own sets of troubles talking about anchor babies and comment about asians earlier this week. but trump between the comments
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that he's come under with bush, also now with ailes is suddenly on the defensive. >> live from iowa. thank you casey. that does it for me this hour. i'm ayman mohyeldin. michael eric dyson picks up live coverage next. i'm michael eric dyson. tonight blessing biden. president obama won't stand in the way. and bush blunder. makes his anchor babies comment worse. and fox fires back after donald trump attacks a fox anchor. the president of fox calls on him to apologize. but first biden reportedly gets the president's blessing. the budge is biden is moving closer to a run.

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