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Closing Bell

Closing Bell Overtime: Recession Fears Spook Investors, Stocks Slide; Delta CEO Says Policy Uncertainty Is Hurting Consumer Spending 3/10/25

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 10 March 2025

⏱️ 46 minutes

🧾️ Download transcript

Summary

Hennion & Walsh Asset Management President & CIO Kevin Mahn and Morgan Stanley Wealth Management Executive Director Dan Skelly on the market sell-off and brutal beatdown in tech stocks. Delta Air Lines CEO Ed Bastian gives an update on demand and why domestic uncertainty is hurting consumers. Evercore ISI Senior Managing Director Julian Emanuel on how to trade stagflation worries. D.A. Davidson’s Gil Luria on Oracle earnings and what it means for the rest of the sector. Plus, ServiceNow CEO Bill McDermott on his company’s largest-ever acquisition and AI demand.

Transcript

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0:00.0

That bell marks the end of regulation, mercifully maybe.

0:05.6

PPL Corporation ringing the closing bell at the New York Stock Exchange.

0:09.4

Silicon Labs doing the honors at the NASDAQ.

0:12.1

Stocks closing off the lows, but it was another big sell-off to start the week, especially

0:17.0

for big tech, with the NASDA tanking 4%, dragged down by Tesla, Pallenteer, Apple, and Nvidia, the S&P 500,

0:24.6

finishing lower by more than 2.5%.

0:26.6

The Dow dropping just over, well, just under 900 points.

0:30.6

That's the scorecard on Wall Street, but winner stay late.

0:32.6

Welcome to closing bell overtime.

0:33.6

I'm John Ford.

0:34.6

Morgan Brennan is off today, and we're going to be all over this sell-off. The impact on your money throughout the show. What to do next? Evercore ISI's

0:42.4

Julian Emmanuel is going to join us with his thoughts on the sell-off, the risk of stagflation,

0:46.8

and when to pull the trigger and buy equities during this pullback. Plus, much more on Tesla's

0:51.6

tanking, share price and a closer look at the dramatic pullback from record highs as the downturn in Elon Musk's company accelerates.

0:59.3

And then we're going to get a real-time read on tech when we get earnings from Oracle, which is trading at six-month lows, along with Asana reporting as well.

1:07.2

Now, let's get straight to this sell-off, what to expect next from this volatile market.

1:11.1

Joining us is Hennington Walsh Asset Management President and CIO Kevin Mon, and Morgan Stanley

1:16.4

wealth management managing director, Dan Skelly. Guys, tell me something. Kevin.

1:22.0

What happened? What happened? Give me a diagnosis here. Why the dramatic move today without a ton of news? And does

1:31.2

the buying that started just before 315 tell you anything? Yeah, I would start, John, by saying

1:37.3

that March madness is upon us. However, this year it started in the stock market as opposed

1:41.8

to on the basketball courts. As investors continue to

...

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