Bear Market Woes: Crypto Contagion & Inflation 6/13/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 13 June 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

$200 billion was wiped out of the crypto market over the weekend, and Bitcoin has hit its lowest level since December of 2020. Skybridge Capital founder and crypto bull Anthony Scaramucci unpacks the global market sell-off, the slide in crypto, and why the drama at crypto lender Celsius could make things worse. Inflation and gas price pressures are hitting consumers and corporations; CEO of Stew Leonard’s details the fuel and food supply chain issues impacting his bottom line. Plus, a break from the markets: the latest box office hit, straight from the Jurassic Period. In this episode: Stew Leonard Jr. @StewLeonardJr Anthony Scaramucci, @Scaramucci Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:08.0	The Bears come from Wall Street and crypto carnage,
0:12.0	making sense of and staying steady through the Street and
0:13.6	crypto carnage making sense of and staying steady through the sell-offs with
0:15.7	investor in crypto bull Anthony Scaramucci.
0:18.0	We're in a bloodbath. This is my eighth bear market.
0:21.3	I expect to survive this one as well and a pinch of food price
0:25.6	inflation all along the supply chain the CEO of Stu Leonard's stu Leonard Jr.
0:30.8	you can feel it out there from the suppliers that their cost is going up.
0:35.8	Just look at the diesel fuel to put in their tractors and their fishing bunkers.
0:40.1	Those stories plus gas prices, market technicals, and box office treats, another summer
0:46.2	blockbuster.
0:47.2	I don't know how these dinosaurs got back this time.
0:50.2	It's Monday, it's June 13th, 2022. Squack Pod begins right now.
0:55.0	Stand Becky by in three, two, one, fuel break.
1:00.0	Good morning.
1:01.0	Welcome to Squackbox right here on CNBC.
1:03.0	We are live from the NASDAQ market site in Times Square.
1:06.0	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
1:09.1	Last week the Dow was down by 4.6 percent.
1:12.3	The S&P was down by more than 5% and the NASDAQ
	...

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