Closing Bell: Stocks sink into the close, a warning for the market, and Energy Secretary Jennifer Granholm on Russia sanctions 4/5/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 5 April 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks selling off into the close amid new concerns the Fed’s rate hikes could slow the economy. Marathon Asset Management CEO Bruce Richards warning about a great disconnect in the market and why he is selling into any rally right now. Tech the biggest loser on Wall Street, but Wedbush’s Ygal Arounian lists the tech stocks that look like bargains. Mizuho’s Dan Dolev explains why he slashed Coinbase’s price target and the one fintech he is so bullish on. And Energy Secretary Jennifer Granholm on the outlook for oil and gas prices and energy sanctions against Russia. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Stocks are lower at this hour with the NASDAQ failing the brunt of the pain down around 2%.
0:06.2	The most important hour of trading starts now.
0:08.2	Welcome everyone to Closing Bell.
0:10.0	I'm Sarah Eisen, plenty of red on the screen for the NASDAQ 100 this hour.
0:13.6	Take a look at some of the biggest losers in the index.
0:16.1	Moderna, Lamb Research, Marvell Technology, KLA Corp, Data Dog.
0:20.5	It's a combination of a lot of different tech sectors.
0:23.3	Chips and software getting hit particularly hard.
0:25.8	We're getting back all of yesterday's gains and then some.
0:28.7	And we are near session lows as we speak.
0:31.1	Here are my top takeaways on some big stories today.
0:33.4	Coal, the next price bike from the war. U.S. coal prices
0:37.1	topping $100 a ton for the first time in 13 years. Look at Peabody
0:41.1	energy stocks bringing back to life.
0:43.0	Coal is next on Europe's list for new Russia sanctions.
0:46.0	Russia supplies 18% of the world's coal exports.
0:49.0	It's a big problem for electricity costs,
0:51.0	and it's a step closer to Europe banning Russian
0:53.8	oil and gas.
0:55.2	That could be the next move.
0:56.7	A big jump today in Treasury yields hurting the home builders and the growth stocks.
1:00.4	One of the catalysts, Fed Governor Lail Brainerd, who's usually pretty dovish talking very
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