About this episode
The Dow turns negative for the year as hot jobs data fuels speculation the Fed will keep rates higher for longer, while the 10-year yield hits its highest level since August 2007. Negative sentiment spills into Asia, sending major equity markets into the red with Japan's Nikkei dropping to a 4-month low. U.S. House Speaker Kevin McCarthy is ousted, putting the gavel up for grabs as he becomes the first lawmaker in history to be removed from the post. And Novartis officially spins off its generic drug division Sandoz today, in a move the Swiss pharma giant's CEO says will allow the firm to focus on its core business. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .