 Stocks continuing in the October sell-off. When will it end? Fox Business' Susan Lee has the latest Susan. Okay, hard to say, but I can tell you that October has traditionally been a tough, tough month. And it's been a long, long week of volatile trade, so the Dow is now on track for the worst month in eight years, while the technology-heavy Nasdaq index, looking at its worst month since the global financial crisis all the way back in 2008. Now, the big drags have been the big Silicon Valley names like Amazon, Apple, Facebook, Alphabet, and Netflix. These are the same ones, though, that have also been leading the markets up to these record levels this year. Concerns over higher interest rates, global trade tensions, and fears that corporate earnings might be peaking have sparked this current sell-off. Now, this week, disappointing earnings from Amazon and Google's parents, Alphabet, seemed to confirm the negative market sentiments. But let's keep things in perspective. You know, we're still in the midst of the longest bull market run in history, and you've done pretty well from the depths of the global financial crisis with the Dow, the S&P, and the Nasdaq, up astoundingly since that time. Take a look at the Nasdaq. We're up over 400 percent. And by the way, we still have a strong U.S. economy, expanding 3.5 percent from the June to September period, less than the second quarter, yes, but still better than economists forecast and really puts the U.S. economy on track for the best year of growth since 2005. That's 13 years. Consumer spending, the bright spot, very important as well as it powers two-thirds of the U.S. economy. Americans are spending at the fastest rate in nearly four years, thanks to lower taxes. And of course, that great jobs market, the best in close to 50 years. Government spending, including defense, also powering economic growth as well. But the main drag, housing. That's a big concern. Falling in the quarter because of higher interest rates and tax code changes, housing important to the U.S. as it accounts for nearly a fifth of the U.S. economy, Charles. All right, so what exactly is going on here? Susan's going to join us along with Fox News contributor Jonas Max Ferris and stock swoosh founder Melissa Arma. All right, Melissa, what's going on because every day was Halloween this October? At least for investors. It was definitely been a disappointing month and particularly this past week because we were talking about this earlier in the week. Google and Amazon expectations were that they would gap up and rally on the earnings and they fell. But I have to be honest with you, they didn't fall as much as they could have fallen and they actually held pretty good into the close on Friday. This is another big week. Apple reports this week. If Apple bombs too, that isn't going to be good for the market going into the midterms. It's so funny, Jonas, when a company says one company says we're going to do $72 billion in revenue in this three months. The other one says, yeah, we got $106 billion in the bank and they both get hammered. But again, Susan points out that this market has come a long way. No stocks are coming any further. Okay, Apple hasn't bombed since the Newton came out. So it's been a long. I'm optimistic. I'm not saying it's going to bomb. I'm very optimistic. I do think investors, you know, it's been a long party. Look at those numbers. You're just looking at, I think investors are looking a little too hard for signs. The party's over. And I think the primary focus has been interest rates. They went up a little too fast when you got to about three and a quarter percent on the 10 year, which sent mortgage rates up for 30 year up to about 5 percent for consumers. That's a high rate given how high home prices are in many parts of the country. And you're seeing some weakness down in real estate. So investors are scared. Is this is this the end? Is this is going to go to 4 percent? Are we going to see 7 percent mortgage rates? Then when that settled down and rates sort of dip back down, the market kind of generated back up and then back down and back up. So that's the primary focus. And the kind of like the chaser on the whole panic is top line revenue growth at tech companies. Not so much the profits. Everyone knows those are super great right now. Things look so great. It's like 2000 or 1929. But what are they going to keep growing? Is there something? Is it is it a lot of engineers, a lot of venture capitals, a lot of borrowing? And that's where the focus is right now. The reason mentality I think affects trading more than economics does. Jamie Diamond has said that over and over again. And I would agree because people forget that there is still an intact growth story in the U.S. Right. Look at the GDP numbers pretty much confirming that. And when Amazon makes record profit in the quarter, they get hits because they're not forecasting as much as what analysts had anticipated. Don't you think that's an overshoot of expectations more than actual fundamentals at this point? I think short term sentiment drives markets. Long term fundamentals would dictate when markets and stocks probably ultimately go. So your point, if it's great news. Listen, by the dip has been a great, the greatest money making tool for any investor over the last nine years. So is this one of those periods, perhaps, Melissa, based on what you just said? The fundamentals are fantastic. The emotions aren't take advantage of the emotions. Listen, I'm bullish on the market. I don't think the emotions are necessary negative right now because you wouldn't see consumer spending up. I'm talking investor, not consumer or business, but the investors that create these swings where we go down 600 points in one session. Because I think that may be worried that if the Democrats win, you know, the House, then possibly some of these things that Trump has put into place as policies could be overturned or changed. And I don't think that would be good for the market. The market is going to react, I think, very positively if Republicans keep both the House and the Senate in Congress. But that being said, the capital gains tax right now is low under Trump. So if that would change, if they overturn that, then that again would create people going into 2019 and saying, listen, the market's been up. We want to take profits. We're going to pay a lower rate under Trump because they might bump it up. But nobody wants to be stuck with the hot potato at the end. No one wants to be stuck without a chair. And when you're in the longest bull market run, we're in the 10th year of expansion. That's probably the longest on record. People are thinking, when does the music end? Does it end soon? And they're probably looking for any excuse to take money off the table. Yeah, I don't think it ends. I don't think it ends any time soon. And so at its point, I think Apple could report well this week. I mean, that would be great for the market going into the Tuesday election. You know, there's you can't dismiss just pure insanity, essentially. But look, there's irrational exuberance sometimes and there's irrational pessimism. And people are told right or wrong that October is a volatile month and it is. And it's been crashes in the past. They should have no bearing whatsoever on your behavior, but it does. I mean, the bottom line is like, oh, this is a crash. Sort of self-fulfilling kind of. And you're like, wow, things are getting rocky. This is in October. And that doesn't make any sense. But that's how people behave. Just as the. And the Fed isn't helping with that. They're it's like every time the Fed comes out and says a statement, it's like they're trying to choke the life out of the growth in the economy. I blame most of October on October 3rd. Jay Powell said something that scared the heck out of big money about not being able to tell when the top was for interest rate hikes where neutral was because most investors know or agree that the recessions, the last 11 or sessions, maybe were caused by the Fed overreacting to a good economy. Well, there are, you know, history has said that the Fed has put an end to the party. But I think with the strong rhetoric coming out of the White House, I still think they're going to go into some break because you have to. Otherwise, you look like you're counting to the presidency. But do they do they raise interest rates three times next year as a dot blot? That's a federal reserve speak for how many interest rates they have priced in for the next year. I'm not sure they're going to do that. You think this impacts the midterms or you think maybe this is because of the anxiety over who wins the midterms? Some of it, I think the primary thing is interest rates and tech growth. However, it's a little related to midterms because there is an underlying fever with raising rates going on. This government debt is now an issue again. And the interest rates payments are going up and what we're seeing from both sides is their reelection plans are both plans to make the deficit worse. You're either getting, let's do more tax cuts or let's do Medicare for all. Let's do basic income for everybody. Those are plans that on top of what's going on now is not going to work with high interest rates. Mimolta, everyone pox on both houses until either one learns how to stop spending money. Yeah, that's going to be a ticking time bomb. Thank you all very much. While the markets try to work their way back up to care.