Trump blames Democrats for the massive stocks plunge. Here's what to know.
Channel: CBS News
Uploaded:
Duration: PT419S
Read a transcript preview of “Trump blames Democrats for the massive stocks plunge.
Transcript preview
Language: English (original, YouTube automatic captions)
[0:00] Well, we begin with major trouble on
[0:02] stock markets here in the US and around
[0:04] the world. It was a massive sell-off
[0:06] yesterday with all three major domestic
[0:09] markets taking heavy losses. None more
[0:11] than the tech heavy NASDAQ which NASDAQ
[0:14] which dropped more than 5%. And this
[0:16] morning futures are mixed with the Dow
[0:19] facing losses while the NASDAQ is
[0:21] expected to make some gains.
[0:23] Effectively, this is all about the
[0:25] future of AI. Nvidia, Tesla and SpaceX
[0:28] were among the biggest losers Thursday.
[0:30] Semiconductor and chip makers also saw
[0:33] heavy losses. Global tech stocks, they
[0:36] are also taking a plunge. You see the
[0:37] numbers here. Japan's Nicay dropped 5.9%
[0:41] this morning to enter bare market
[0:43] territory. And in Europe, all major
[0:45] indices were down this morning. A short
[0:47] time ago, the DAX there in Frankfurt was
[0:50] down 2.3%.
[0:51] Let's chat with CBS News business
[0:53] analyst Anne Bry to kick off our hour
[0:55] this Friday and good morning. So what is
[0:58] happening here? Is this investors
[1:00] reacting to the fundamentals or is it
[1:02] all about their expectations of what's
[1:04] to come?
[1:05] >> Well, they are absolutely connected
[1:07] because here'