The Market On Tuesday

  Good morning. It is a humid 71 degrees and it is cloudy here in the Upper Hudson Valley. The forecast predicts that the temperature will go into the high 80s this afternoon and that eventually there will be sunshine. Trump has once again put a series of nails in his coffin with his highly offensive post of a picture of Hillary Clinton with a Jewish star and piles of money. This is unbelievaby offensive and thoughtless. This is one of Trump's many major and unacceptable flaws. He seems to have no basic concern about people, an utter lack of awareness. It's unimaginable, and yet this person has risen to the place where he will be on the ballot in November and will win electoral votes as well. I'm all for a Red America and a Blue America, a two state solution, I've said it many time. But now we have a very simple metric for how to divide up the country. The states that go for Trump need to be in a separate union.

  At 8:50 a.m. ET, futures are significantly lower and the price of oi per barrel is down. The market is poised to open much lower.

  The fog of the Brexit, the shock of it is lifting. What investors are now seeing is a troubled British economy that will likely fall into a recession accompanied by higher unemployment. You want to play the game, you got to pay the price. The Brexit will set England back, and that story is already beginning to unfold.

CNN: Stocks: 5 things to know before the open by Ivana Kottasova

The pound's crash reflects concerns that the country's exit from the EU will be accompanied by recession. A survey of sentiment among managers in the U.K. construction industry slumped to a seven-year low.

BBC: Bank of England warns Brexit risks beginning to crystallise

The FPC also has concerns over "the high level of UK household indebtedness [and] the vulnerability to higher unemployment and borrowing costs" for some households.