KNX, Kim Forest, Arson discussed on KNX Midday News with Brian Ping
Jim Chenevey. Very dangerous situation. The panhandle of Florida and beyond there right now sustained wings of approximately one hundred fifty five miles per hour. It is very close to a category. Five stay tuned to KNX for more of our in depth team coverage as it happens. You'll hear it here on KNX twelve thirty two on KNX. It's been it's been a very rough day on Wall Street to say the least let's get an update now to the desk. KNX ten seventy s Frank Motech saying it'll will wind blowing on Wall Street with stocks taking a big tumble here just before the closing bell. The Dow down about six hundred points the worst one day drop who've seen in months. Bringing Kim forest now senior portfolio manager at fort Pitt capital group Kimba, give us your view, what's happening here. Well, a couple of things we are I worried about interest rates rising, and that kind of happened last week where interest rate suddenly jumped and then we got a couple of earnings report saying, hey, there's a slowdown in China. And we're going to have to kind of take down the earnings that we think we're gonna make for the rest of the year. So those two things have decided have changed the mind investors, and they're getting out of the higher priced stocks. And by that, I mean, the price to earnings ratio stocks that have high ratio and that is dragging down the market. So now stack is is leading the selloff, and the Dow is kind of lagging because it doesn't have that many texts names in it. Kim will continue to follow it Kim forest at fort Pitt capital group tech stocks leading the way lower reflected in the NASDAQ which is down to three percent here at the moment down two hundred thirty seven points, the s&p five hundred down seventy and the Dow right now down five hundred ninety eight points, and Chris will keep an eye on it as we approached the closing bell back to you Frank. Thank you, which at twelve thirty four on KNX, very different demeanor today in court for the man accused of arson in the holy fire. Last August, the last time we saw forest Clark in court. You might remember the outrageous outbursts, they caused the judge to question his sanity arson aggravated arson.