A steep selloff on Wall Street with the Dow falling over 300 points Friday, posting its worst week in three years. And the S&P 500 didn't fair much better -- it saw its worst week in two-and-a-half years. The market downturn didn't end there: Oil settled at 57.81, the lowest level in five-and-a-half years. And taking a look at the VIX -- the so-called fear index -- topping 21 for the first time since Oct. 21.
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What could be behind this? Andy Brenner, head of international fixed income at National Alliance Securities, says we are getting closer to a Russian default and if that happens, it would have a huge ripple effect for emerging markets and the global economy.
Plus, Former Chairman of the Council of Economic Advisors Austan Goolsbee weighed in on the selloff and offered a different take on Russia. Head to FOXBusiness.com/OnCall to find out what keeps him up at night right now.
Former Apple CEO John Sculley joined FBN and said that Apple, with Tim Cook in the lead, is doing everything right. Head to FOXBusiness.com/OnCall to see which Apple products this former chief thinks are a big hit and which ones could use some work.
Here's what's coming up next week: The last Federal Reserve meeting of the year is taking place on Wednesday at 2:30 p.m. ET. Will the Fed drop the "considerable time" language from it's policy statement? We'll break down what it means for your money.
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.