It's Jim Kramer here. You're listening to the opening bell of CNBC squawk on the street.

Don't miss a minute of the action.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer at the New York Stock Exchange.

David Faber has the morning off. Pre-market is obviously wary after Monday's sell-off. Dow futures down about 60 here as the 210 spread is just three basis points from inverting, flattest in 12 years and the strongest recession signal we've seen in a very long time.

Europe's red across the board.

Germany down 1% German business sentiment hits an eight-year low.

And then watch our own 30-year falls below 210 overnight and everyone is going to be watching

today's close. Let's get straight to the market. Future's going to be watching today's close.

Let's go straight to the market.

Futures lower ahead of this morning's open following a sharp sell-off of the second consecutive Monday.

Global economic worries, falling yields continued away on investor sentiment, driving them towards some safe havens.

Gold now, the highest price in more than six years.

The president tweeting a few moments ago through massive devaluation of their currency and pumping vast sums of money into their

system, the tens of billions of dollars that the U.S. is receiving is a gift from China. Price is not

up, no inflation. Farmers getting more than China would be spending. Fake news won't report. What we will

report is that course, EPA 2-2 is the 17th month of plus 2%. Yeah, look, and there's a level of

inflation in our country, but there's also, I think, that when you see it, some of it is tariff,

but if you're a central banker, you recognize that there is a way of deflation coming.

When you have these rates going the way they are, that is about deflation.

The president seems to, I'm not saying that I want to be part of the fake news, so to speak,

but it's entirely possible that you can have the Chinese devaluing and you still get the tariffs. I'm not, no one's disinter. It's interesting. He's positing something that it's hard to disagree with. That's what's happening. Well, fake news, let's say we're fake news. All right. I don't know if it thinks we're fake news. But these are facts. There's not as much inflation. There's some inflation. But we're better.

I think what I would have emphasized if I were the president of this is that everybody wants our market.

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