Hong Kong protests weigh on the markets

Claman on Call: FBN's Liz Claman with an after-hours web exclusive on the markets, Hong Kong protesters' use of the app FireChat and former AIG CEO Hank Greenberg's legal case against the government.

Claman on Call: Hong Kong Protests Push Markets Lower

By Markets FOXBusiness

The three major U.S. indexes closed in the red on the first trading day of the week -- but they managed to storm back and erase most of their earlier losses in the last hour of trading. The Dow was down 179 points at the session low; it finished down about 42 points. 

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Computer Sciences Corporation, or CSC, rose on rumors of a leveraged buyout. The stock surged more than 5% as a result, and it was trading slightly higher after hours.

One of the reasons for today's market pullback: Hong Kong jitters. Protesters in Hong Kong are demanding democratic elections. While some social media sites are restricted in Hong Kong, protesters found a way to communicate using an app called FireChat. Micha Benoliel, CEO of Open Garden and the owner of FireChat, joined FBN during After the Bell and says in the last 24 hours, 100,000 people have downloaded the app. The app operates like a "decentralized daisy chain" of communication, where smartphones talk to each other.

Head to FOXBusiness.com/OnCall for the entire interview.

Steve Bernstein, Sinopac CEO, also joined FBN today. His office is in the middle of where the protests are taking place, and he says this is not a Tiananmen Square-type situation, but he expects peaceful protests to continue and grow larger in the coming days.

Another big story on Monday: Former AIG Chairman and CEO Hank Greenberg is taking the U.S. government to court because he says he and AIG are owed $40 billion. In his view, the government forced them to accept unfair terms during the government bailout. In a FOX Business exclusive, Charlie Gasparino says Greenberg is confident he will eventually win this case.

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Now, here is what you need to watch for tomorrow: At 9 a.m. ET, the Case-Shiller Home Price Index comes out; at 9:45 a.m. ET, we get the Chicago Purchasing Managers Index, and then at 10 a.m. ET, consumer confidence is released.

Be sure to check out all of today's interviews on FOXBusiness.com/OnCall and tune into Countdown to the Closing Bell every week day at 3 p.m. ET.

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