a lot of this has to do with scaring kids into believing there is no future. that comes in disbelief in american greatness and overwhelming fear, there's imminent doom for the planet, that message is so influential our kids are saying why bother? some good news according to the daily mail, the new superman movie will restore american way into the hero's model and highlight kansas, the middle american heritage. maybe there is hope after all. liz claman, over to you. liz: far be it from me to add more fear, we've got some breaking news as we kick off the final hour of a week, white knuckle ride that appears to be continuing. we are getting headlines from regional bank western alliance. in an effort to apparently

reassure the markets the banking crisis, the arizona-based regional bank says it remains in a, quote, strong position despite significant outflows, silicon valley bank and signature bank, western alliance saying it is insured department's make up 55% of the total deposits and has an immediate available liquidity of $20 billion. is that helping the stock? not exactly. the stockett intraday low of $30, still down just under 10%, keeping very close eye on western alliance at the moment. the month today charter is extremely ugly, has taken a clip of 76% since march began. the markets are gripped by a crisis of confidence. look at the dow jones industrials down 434 points.

crisis of confidence in first republic, western alliance, shares of the regional bank, they are falling at the moment by 32% despite its ordinary development during this hour when a coalition of us banks announced it was cobbling together a $30 injection of money to stabilize it. the cash infusion did stanch the bloodletting and reverse the losses. for the moment it has worn off and the very banks not just first republic, but jpmorgan, wells fargo, bank of america, state street, the ones that fashioned first republic's bloodline are down. jpmorgan at a loss, goldman sachs down 3.4. bank of new york mellon down 4%

with 58 minutes in change to trade, let's look at morgan and goldman dragging down the dow industrials, a loss of 517, we are down 537, that was right as charles tossed to me. s&p is losing, let me check this quickly. i want to make sure you understand this is a moving target, the nasdaq down one hundred 12, russell 2,000 getting clocked, biggest percentage loss, the blue chips lost all their gains. the s&p, you can see the s&p is in the green for the week, 1.4%. the nasdaq which this week became the safe haven, has less exposure to financials and more to technology, the best week of the year despite today's losses, looks to close up 4% for the week.

speaking of week, exactly one week ago today the trigger to this banking sector chaos, subsequent to broader market turmoil went off when silicon valley collapsed becoming the nation's second largest bank failure behind washington mutual in 2,008. 48 hours later new york signature bake got swamped in the contagion and slipped underwater. reuters reporting bids for the assets of both of these now shuttered banks are doomed today. the volatility which is up right now, 12.4% and more pronounced spike of 19% this month alone, bargain hunters, brings up the question, will bargain hunters sweep in during the final trade or is there too much fear other regional banks could stall. what's behind the stunning flight to tech stocks? coming up with our can ovation merging is one of the best performers during the bank stress fractures, arc

investment's kathy would joins us in a fox business exclusive on what she scooped up this weekend the scramble into crypto send her investment in coin base up 40% this week, and who she's blaming for the crisis. former fbi teacher william isaac on whether more banks are asking for a fall. charlie gasparino has breaking information on just who is bidding on what is left of silicon valley and signature banks. we begin with our floor show traders, it is triple witching friday, the expiration of all options and futures, ramps up even more the volatility we are seeing, why is in the bank coalition at lifeline, came in during the hour yesterday. and why is it not keeping the markets afloat.

>> all the deposits are a rush to find out who has been last real dollar in the system. nobody's nobodies stuart:s exposure, they let it settle but this reminds me of 2,008. many of these big traders are deliberately walking away because they believe there's going to be a bailout, looking to do some bargain hunting. it is market mechanics at its best and worst. liz: all we have to do is look at the 5-day picture of the dow jones industrials and the point gyrations. after signature and silicon valley bank failed over the weekend from friday to sunday, start to see the dow respond negatively and we can put up what each point day actually did and as headlines come and about the fbi see guaranteeing all deposits not just insured deposits the, again you have the gyrations from day-to-day

for the dow jones industrials. my question to you, what happens, at what level do the algorithms start to kick in and suddenly begin to either buy stocks on the debt, pretty big dip, or continue to flee? >> you just said a lot. there's a lot of unanswered questions. like you said, the big-money stays on the side, correlated this to 2008. there was a lot of shoring up confidence for the banks and the dow lead to pressure all week, but there's been a head scratching diversions between the dow and the nasdaq. indices don't look as bad but under the surface is bearish action. you are seeing bank of america lows, that could be a problem. people say credit suisse is worthless as an equity, same with these regionals but the

s&p is 12% over% over the october lows, you are asking for a level of the s&p that they kick in, monday was 3808. i traded through the financial crisis and every time we had a bounce i look to see what didn't bounce and what the problem might be, we tried to bounce the tech rally, banks, all of that going on. jpmorgan continues lower and tries to catch up to bank of america that bank won't find buyers. the cash won't hold, the strength in tech -- liz: we are at 3910 for the s&p, we have all of these financials really struggling, bank of america down 4% at this moment and keep cycling through those western alliance headlines that hit before the top of the show that don't seem to be working, stock is still down 10% to $33.24 even after

this regional banks as we are good, have a lot of cash we are able to access, 20 billion plus, and keith, stay sharp in this last 52 minutes of trade because anything could happen but is there an opportunity or are you saying i am staying away. >> i'm on the hunt for opportunity. days like this, you embrace the bear and a few claw marks but there will be outliers, we are seeing apple and microsoft respond, the tech that was such a wreck last year's a safe haven because people can touch it, they can use it. big banks are an enigma right now. no one knows what happens, through the money and and you never see it again, that doesn't work so there's a crisis of faith more than a

crisis of banking but as a trader this is the kind of stuff you live for because this is where you find the bargain, maybe not today but monday and tuesday i'm looking for supplies. liz: 10 year yields are down, all of the yields are down depending on which part of the curve, it is 3.86%. and 26 points above the 10 year. and in the treasury world for movements about the equity. >> we started the year, then no landing and back to a hard

landing, 5.7% of 5.1. the bond markets, 12% above where traders are pulling their hair out, they are looking at the action and the action right now is summoning mixed signals that you take your trades fast as someone wants to put money to work, might as well wait unless you promote these funds, this won't be the low of the s&p. sometimes a dribble turns into a waterfall. we will see what the fed does next week. they have to fight inflation. the street has it wrong where they will cut 2 or 3 times. that's what they show for the duration unless you get a really big breakdown in the s&p which means more things are breaking than regional banks.

liz: the fed meeting is wednesday of this coming week. we had fed funds futures at the top of the show and a pause, 30 one% odds of a pause. it jumped from the time we looked at it, 30 one%, now to 38%. as scott said, traders and investors, this is a moving target and we end with keith fitzgerald saying stay sharp this hour. that's now out of date. it should be 38%. thanks to keith fitzgerald and scott radler. the closing bell ringing in 49 minutes. credit suisse and first republic face plans even after an unprecedented injection of money into both those banks. black rock ceo larry fink warning more seizures and shutdowns are lurking in the market, was awfully prescient at this hour but is it true? former fcic chair bill isaac shooting up afresh morning

flare predicting another bank domino could fall soon. which domino, we are going to ask him next. with the dow jones industrial down 432 points, we've got, let's call it still 48 minutes left on the clock before we see how this wild weekend, stay where you are, "the claman countdown" is back in a minute. chairs, gotta go... okay! i'm thinking couches... or loveseats? yeah, loveseats. something about loveseats make me feel happy. kevin...? i bought the team! ♪ cash brothers! your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ choosing miracle-ear was a great decision.

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>> as we look at the dow jones restaurant -- and president biden has released a statement saying he wants tax go after

executives at failed silicon valley and signature banks. to give the fcic, to up clawback executive compensation including gains from stock sales before their banks failed. and they stampede before the federal reserve's discount window. and with the fed confirming in the fed this past wednesday, banks borrowing surged to a record 152 $0.85 billion, during the financial crisis, bancshares continuing to plummet, what is really needed to calm the situation? we don't know which banks rush to the discount window because

it is a secret program, and the names of those who use it are withheld for two years. can you describe who you believe might have been vulnerable enough to belly up to that window? >> at the fcic we tracked that. it is undoubtedly and they are in markets, and it is entirely overdone right now. and the signature, they were poorly run. and they borrowed it, a ton of treasury money and loaded up on

it at low rates, i don't know what they were trying to do, and they started to raise rates and -- liz: wise first republic, if i'm getting your message correct, wise first republic right now after getting a capital infusion big ones of $30 billion down 32% in this final hour. >> the one to banks are outliers, none of those 3 is a typical bank, two are in california. there's a lot of high rolling going on -- >> about western alliance?

it is in arizona, these banks felt it important enough, it was important enough to russian like first republic is market is just $4.2 billion. it is almost as if those two that went under, signature and spp were so weak. investors right now are shooting first and asking questions later. they are exiting, they are stampeding out of these names and that destabilizes these companies, does it not? >> there is no credit, no doubt there's a lot of speculation by investors or concern, they don't understand what is happening, and the government needed to be probably a little

more stabilizing in their actions. they reacted very quickly on two banks. former chairman of the of the icy sheila bear, i agree with her 100% but these banks combined, $300 billion, the banking system is $23 trillion so together they just don't matter in the scheme of things. so i think people are overreacting. i believe the government overreacted. people who have a lot of money and i don't think they should have been protected. the fcic can cover folks over the insurance limit over time. they don't want to have a lot of money if the fdic abandons it.

liz: we have a panoply of government organizations whose sole job it is to look at these banks before crisis like this, comb through them, talk about federal reserve bank of new york, the fcic, the comptroller of the currency, the treasury department, and they are supposed to be there, making sure these types of bad bets aren't going to take the system down even through a couple of banks. my question to you right now would calm these flames to embers and douse the whole fire. does the fdic need to guarantee all bank deposits beyond each account insured, 250,000. >> the if the icy can do anything it chooses to do along with the fed. i am not concerned about their

ability to stop bad things from happening. you need to make sure you aren't shooting too fast, taking steps that panic people. what they did this weekend was too much too soon. they should have taken their time, thought it through, and let the fdic the fed do their job. i don't know why the treasury was involved. the treasury wasn't involved in all the other things we did, 3,000 banks in the 1980s. treasury was not involved. the fdic and the fed were handling it and don't know why you get the politicians involved in this. it is a mistake. liz: whatever it is doing is not working. dow jones industrials off of the lows of the session, thanks for joining us. >> thank you. i do think we have ways of dealing with this and we will

as soon as people get calm. liz: not everybody has been wiped out by the banking brouhaha as multiple funds tank, one of the biggest beneficiaries, a fund giant run by kathy wood coming up in a new fox business exclusive live on the moves she is making and who she says is responsible for the crisis. closing bell 36 minutes away, the s&p is down 39 points, losing 1.4%, the nasdaq down 2 thirds of one%, we are coming right back, stay tuned. we've been creating it for more than 100 years, putting the most advanced technology into people's hands. generation after generation. tool after tool. again and again.

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liz: the financial times reporting government regulators in the us are open to potentially sharing in the losses of silicon valley and signature banks in order to facilitate a smooth sale of institutions. charlie gasparino has been bird dogging this part of the story since two nights ago. those bids are supposed to be in today and this weekend. >> wall street is showing, the banking system, extreme reluctance to bidding on spps and signature assets, worried

about long-term liability, there is some talk about sharing liabilities but i don't know if it is enough. banks are telling the federal government they want complete backstops. they want to not be held accountable for the liabilities of these banks, both of them are likely to face shareholder lawsuits and investigations by the federal government, the california attorney general, this could get messy the way both of them went down, we will bid but we want complete exoneration to any legacy liability, we want some backstopping of the losses. that is what it is. i will tell you point blank, jpmorgan is not bidding, that's

the nation's biggest bank, jpmorgan fields burned in 2008 at the government's insistence, it bought bear stearns and other assets and got screwed again and stuck with liabilities. they were attacked by state attorney general's so jpmorgan fields burned by that. if they been on svp, this would have to be one hell of a backstop the federal government is putting in. bids are due today. it is unclear if anybody is bidding on this. this is one of the reasons it is difficult, there may be other banks that step in and purchase. bank of america is an interesting play on this. huge offices in san francisco on the west coast, that might happen as well. keep your eyes on this thing. it is rapidly changing.

i can tell you jpmorgan is out of it. don't know who else is in it. liz: extreme reluctance on behalf of institutions, we will take the assets of the failed banks. fox business alert, let's get to the markets and reset, 28 minutes left to trade. it has improved since fedex last frightened the market with a downbeat forecast. turning to fedex, shares moving higher by nearly 8% after the package delivery company crushed earnings expectations and hired -- hiked its full-year outlook saying its cost-cutting measures which include slashing headcount began to offset weakness in demand. the stock is sinking on uncertainty over gene therapy for muscular dystrophy. stock has gone 16%, the fda initially said it would not have to hold a panel meeting to

review the drug but has reversed its stance. the meeting will take place before may 29th the day the fda's do to make a decision whether to approve the therapy. nvidia, after morgan stanley raised the chipmaker from underway to overweight, stock is up 4%. the investment bank raised its price target from 255 to 305. 259 and change, the company is benefiting from a push towards artificial intelligence. guess who owns a boat load of nvidia in one of her funds. kathy would in a fox business exclusive, there she is, we will ask where she has seen bargains out of bank stocks and plow hundreds of millions into her flagship arc innovation etf. if, like many, you wonder what triggered this market distress, download my latest ever, risk

analyst chris whalen, these lines on the screen, which later failed and led to wild market swings, he spins it forward to what he thinks will eventually come to pass in a direct and clear way. chris sifts through events of the last 7 days, if you are late to the party or the funeral got to listen. find on google, apple, spotif dagen: or wherever you get your podcast. the dow was down 509 points. we have our eye on the moves of the stocks in distress. kathy would. kathy wood next. we got this. we got this. we got this. we got this. yay!

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liz: as the banking sector gyrate, one fund has been reaping benefits was i want you to look at this chart, arc innovation is the blue line.

this past tuesday alone investors warned $397 million in 2 arc innovation compared with the s&p regional banking etf which is kra down 14% over the time period. that, by the way, is the biggest one day inflow since april 2021. it popped 7%, top holdings include tesla, zoom, and roku, all in the green, but that is nothing compared to the 1-week spike of the crypto stock. she has been building a position for months. what moves is she making? in a fox business exclusive, kathy wood. there's so much to unpack. tech has become certainly the

flight to safety, your stocks are not necessarily huge tech and they've done very well. why do you call it market psychology? so pointed with a laser focus on tech away from anything that's not related? >> the markets beginning to understand how deflationary the fed monetary policy has been, a lot of problems with the bank regulation or oversight so there's a flight away from value, away from anything cyclical. we own no banks, no energy and we see what is happening to energy prices. there was already a lot of cash in the system. i am sure there's more building up now. by some measures, near record cash and so there could be a

rotation back to our style which was hit horribly as everyone knows, from february 2021 through december by fear of higher interest rates. i believe the fear of higher interest rates is dissipating with the exception of larry summers and mohammed el-erian. we have a banking crisis, and what the bond market is signaling that the fed must do is cut rates, and cut them severely. liz: if you believe jay powell and what the central bank telegraphed yesterday by raising rates half of one% ahead of the meeting next wednesday, we may not see them. banking more of a pause at the moment or betting on it, let me focus on what you have been buying this week. there have been a lot of stocks

that have not done well across the board that you've had your eye on. is there anything you have been adding to as far as positions? >> recently when we felt coin base was misunderstood and it seemed banking regulators were blaming crypto for what is going on which is not the case at all, we think crypto assets could be a beneficiary asset, in the case of coin base, what a lot of people think, is trying to be regulatory compliant as possible with the new asset class while educating regulators what the asset class is all about.

it is a good move. liz: 114% higher and in the last week alone, it is up 42%. are you buying any other crypto related companies? >> we put some money into block. people know it as square. there is a bitcoin link, block is very supportive of the bitcoin developer community and is starting to develop new products around bitcoin which would be its trojan horse into other countries. we are excited about that one as well. liz: that one has gained 4. one%. regarding crypto, how can crypto be thought of as a safety haven, when safety turns out to be the new kid on the block, crypto currency that has yet to prove its endurance.

considering we've seen an implosion of silver gate and other crypto related gains lately, how can you simply say that is the right move to safety? >> we did the first white paper and it is on our site and art laugher, my mentor and friend, helped us with it. very strong, not only in fiscal policy and tax policy but monetary policy and as we were taking him through what this is, at one point after reading the paper and digesting it, he said wow, this is what we've been waiting for, for the last 50 years since we went off of the gold exchange standard. it was only a $6 billion back then. it is up to $500 billion and i

said art, how big could this be? how big is the monetary base? at the time the monetary base in the united states was 4. $5 trillion. today, we are closer to 8 trillion, maybe a little bit below that. what he was really saying, each one of these words is important, the first, global, private, no government oversight, digital, rules-based monetary system. it is decentralized. it is transparent. it is auditable. and it hasn't skipped a beat through all the crazies starting with the crypto crazies last year. those crazies and the companies have protocols that went under, they were opaque and centralized, sam bankman-fried

didn't like bitcoin because it is decentralized, transparent, he was the master of the universe and fought he could control everything. we think it is a flight to safety antegrade insurance policy. >> bitcoin is banning $1000 and change. from kathy, speaking of transparency, the fed discount window hasn't been transparent but what is the future, the near future of what is going on in the current banking mess, kathy wood stays with us, that is next. we are watching credit suisse, closing bell is 12 minutes away. there are more headlines coming through. we bring them to you when we come back. dow jones industrials losing

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and stress-related weight gain, i recommend golo to you. this is a real thing. this is not a hoax. you follow the plan, you'll lose weight. liz: let's look at the picks. this is wall street's sort of fear gauge. it's up 12%.

we do have triple witching friday. the expiration of all kinds of index and stock futures, and of course options. there is a lot of volatility going on. some of this is also attributed to what is going on with the banking crisis. the big beneficiary has been tech world. who better to talk about that, ceo cathie wood. this discount window, this is the facility, the program banks are allowed to stampede up to when they need quick loans. 90-day loans. a record amount was written in loans the past week that just ended this wednesday. it's secretive. they withhold the names of the banks month tapped it for two years. you do not own any banks. your funds have been soaring.

you just hit transparency hard. what do you think should be changed in the wake of what happened the past 7 days? >> this harkens back to'08-'09. the solution is transparent city. decentralization, no central points of failure. completely auditable. that's the answer. in

others say, 25 basis points, it won't be 50 basis points. the bond market is screaming at the fed. typically the fed follows the bond market. to be honest i'm thoroughly puzzled by that. and i'm puzzled by how much was going on in broad daylight. where were the bank regulators and bank analysts? >> western alliance down 15%. that's the arizona bank that just came out before the top of the hour and said we have got $20 billion easily accessible. we should be looking at frc just to keep an eye on these break

headlines. credit suisse down 37%. you have been a strong fan of tesla. we are getting some news about volkswagen. it's saying it has come out with an affordable electric vehicle for $26,000. beating elon to what he said a few years ago that he wanted to do. are you concerned when it comes to tesla, the competition. the competitive world is heating up here. >> we think tesla's competitive position has improved. i would like to see the specs behind that volkswagen. my guess is, like for like it has either less range, less power, otherwise given the way the battery cost structure is today with tesla's battery cost

structure so much lower than the industries. if they are selling a like for like car they are losing money on it. what elon is doing is unbelievable in terms of the number of factories that he has on the drawing board. and the automation and robotics, i think in order to make our expectation that it will scale to 20 million units from 1.3 last year, they will have to populate the world with factories and they are moving faster than anyone else. liz: these high technology companies -- i am talking the smaller ones, not necessarily tesla. you have invested in draft kings which has a technology aspect to it. as we put up regional banks and

show the stresses and the kdwr. how can of the future tech companies, because we are seeing distress in the banking world spreading. how many of the tech companies you invested in have enough cash on their balance sheets to make it through what could be a difficult six months to a year ahead of us. >> because our companies have been hit so hard for fear of higher interest rates, they have spent the last two years shoring up their cash positions, getting their cost structures in line. arrk's cash position, weighted cash position, the runway is six years. even for arkg, we call it the

genomics revolution fund, that path runway is four years. liz: so you are comfortable with those balance sheets. >> very. liz: we'll have to leave it there. we are so appreciative that you came on so we could get the technology side that has been roaring ahead when there is so much going on with the banks. the dow turns negative for the week. closes off the session lows. the regional bank situation is still very tentative. "kudlow" is next. [♪♪] larry: hello, folks, welcome to "kudlow." i'm larry kudlow. the weekend is coming up, and my best advice to anybody interested in a potential banking crisis