Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.

I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and

I'm going to explore the lessons we can learn when creativity and ambition collide

with competition and power.

Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts,

or wherever you get your podcasts.

Broadcasting live to New York to New York, Bloomberg 11th Ryo, to Washington DC,

Bloomberg 99-1, to Boston, Bloomberg 12-100, to San Francisco, Bloomberg 960, to the country,

Sirius XM Channel 119, and around the globe, the Bloomberg Radio Plus

at Bloomberg.com. This is Bloomberg surveillance.

And good morning, I'm Karen Moscow along with Tom Keene and Barry Ritholz.

And the opening gal is brought to you by.

SEI Imagine when asset management servicing is unconstrained by infrastructure.

See how SEI's global operating platform could be your catalyst for business expansion at

SEIC.com slash Imagine.

And stocks opening lower this morning, the S&P 500, down 4-10% or 7 points at 2052.

Dow Jones industrial average is down 3.10% or 60 points to 17,621 and the NASDAQ's down 6 tenths percent

are 29 points to 4840.

Ten-year Treasury that will change yield 1.76 percent.

The yield in the two-year, 0.75 percent. The yield in the 2 year 0.75%

9x crude oil down 3.6% at a dollar 39 to 3695 a barrel.

And Comex gold is down 1.5% or $19 to 12, 16, 60.

...