As the Dow plummeted during the opening minutes of trading, the financial cable news networks geared up for breathless, ’round-the-clock coverage.
CNBC anchor David Faber embodied that frenzied attitude Monday morning when he tried to balance hosting Squawk on the Street live while not having as much information as he’d like as a reporter.
While watching stocks drop in real-time, Faber expressed hesitance to make any declarative statements on where the market was headed, telling co-host Carlos Quintanilla: “I… I don’t… this is, uh… I… I gotta make some phone calls.”
He continued, seemingly baffled: “These are enormous moves, and, of course, when you see these kinds of moves, it becomes self-fulfilling and then everybody is just like, ‘Alright, even though I see real value there, I’m not going to take a shot.’ Verizon’s backed off a bit now. It’s down only 9.8%, but some of the moves are dramatic and enormous and, uh… scary.”
Later on in the same segment, after Jim Cramer made comparisons to the 1987 stock market dive, Faber interrupted to say, once again: “I’m going to make a couple of phone calls. I think I should do that.”
“I think you should,” Cramer agreed.
Watch below, via CNBC:
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