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Global Markets Drop Sharply on Trump Win; Interview with Congressman Chris Collins of New York; Trump Elected U.S. President. Aired 6:30-7a ET

Aired November 09, 2016 - 06:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

(COMMERCIAL BREAK)

[06:31:08] ANNOUNCER: This is CNN breaking news.

ALISYN CAMEROTA, CNN ANCHOR: We do have some breaking news for you right now. Global markets are down sharply, reacting to the news of Donald Trump's victory.

So, Christine Romans joins us with more.

What are you seeing, Christine?

CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Well, I'm seeing a big selloff around the world. It's not as bad as a few hours ago, but clearly a big selloff. If you look at Dow futures right now, we're still expecting what will be a sell-off at the opening bell, 415 points, had been a lot more than that. But 415 points, more than 2 percent. That's significant pain in your 401(k).

When you look at what happened as if became clear that Donald Trump was going to secure the presidency, you saw just fall off a cliff the Dow futures. They were down 600 points or so. This is right around the time of what many people thought was a calm and conciliatory speech that he gave where he talked about healing the wounds that bind us, binding that wounds that divide us. That's what he said. You saw the markets come back a little bit.

Real tough night in Asia, 900 points on the Nikkei. There were emergency meetings of financial stability boards in the like in the governments around the world. Look at London, Paris, Frankfurt. Not as bad as they could have been. This is a flight to safety. This is a scaredy cat move running right into gold.

This is the Mexican peso. There is going to be a press conference later today with the Mexican central bank and the finance minister, big concerns of what a Trump presidency would mean for the Mexican economy building a wall, immigration issues, NAFTA and the like.

This is what we expected. We expected a selloff exactly as you've seen. Can't predict it will happen later today. But a lot of people have said Wall Street, global investors, they wanted Hillary Clinton. They didn't get it. Here you go. CHRIS CUOMO, CNN ANCHOR: Let's discuss. We have senior legal analyst

Jeffrey Toobin. We'll be talking to you about the Supreme Court. CNN global economic analyst Rana Foroohar, and host of "QUEST MEANS BUSINESS", Richard Quest.

So, we're talking about business, let's stick with it for a moment. We expected the markets to react negatively to the volatility, the unknown of Donald Trump. The next layer is, well, what did we hear from other leaders in terms of the curative power of this being accepted by our friends abroad? Dr. Quest, what do you see?

RICHARD QUEST, HOST, QUEST MEANS BUSINESS: Oh, they haven't wasted much time.

OK, I've never read the most tepid set of congratulatory message. The president of France, basically says, "I've congratulated Mr. Trump as is usual in this situation. This result leads to uncertainty. I urge vigilance because of statements made by Donald Trump."

The foreign minister of Iran says, "Whoever is the president of the U.S. needs to understand the realities of our region and have a realistic approach."

Angela Merkel in Germany says that the relationship between Germany and the U.S. "is on the basis of respect of people's dignity regardless of race and religion, and on the basis of these values, I'll work with Donald Trump."

The only person celebrating, perhaps, Theresa May, the prime minister of the United Kingdom. Why? Because Donald Trump said Britain would go to the front of the cue, the front of the line when it comes to negotiating a new trade agreement.

CAMEROTA: Why are you skipping Putin's celebratory --

QUEST: Read --

CAMEROTA: I have it right here.

"Russia is ready and wants to restore the fully pledged relations with the U.S. I repeat, we understand this will be difficult, but we are ready to play our part." He is open to a new era.

CUOMO: You could argue they already have played their part. The hacking.

So, this is a little odd to have other countries in the world talking to the U.S. about being careful to respect rights and freedoms abroad. Usually that message is going the other way, but that's the reality.

So, you have the community with their response. What does that mean in terms of treading through economic impact?

[06:35:01] RANA FOROOHAR, CNN GLOBAL ECONOMIC ANALYST: Well, what I hear in all these messages is pretty please, let's not start a trade war. Let's not have a global tariff world that ends up tipping the U.S. into recession. At a time when global growth is already tepid, that, of course, was part of the election story here in the U.S. You know, a lot of economic anxiety but also a sense that the economy is rigged.

And that's something that people feel globally. That's a big part of Brexit. That's part of the rise of the populism in Europe, that's part of nationalism in Asia. You're going to see those feelings of fear and loathing and that kind of protectionist sentiment rise.

CAMEROTA: How long are we going to feel that fear and loathing?

ROMANS: I mean, it could be weeks and it could be months. We need to know what kind of president President Trump is going to be.

I already have a long list of questions. What happens to Janet Yellen? Does the Fed raise interest rates? Iran sanctions, he's been very critical of Iran, will he build the wall? How will they get rid of Obamacare? Taxes, will he cut your taxes? If he does, oh my goodness, how will we explode the deficit?

You know, there are a lot of real issues here. Campaign promises and statements have been contradictory. What kind of president will he be? Until Wall Street knows and investors know, there will not be certainty for building factories, for hiring new people and expanding and for global trade.

FOROOHAR: I think one thing we will see certainty on those. I don't think we're going to see a rate hike this year. I don't think the Fed is not going to raise rates because in this environment, it's just too fragile.

QUEST: It's important to remember that the U.S. is the fastest growing of all the developed nations. It is still the engine. We can talk about China and it slowed down and the outlook for China is weak and getting worse.

The U.S. is still the motor engine that everybody else is looking to. Now, it's not going to fail or collapse. But will it sputter as these changes take effect? That's the concern.

CUOMO: Hold on one second. We'll keep talking about business, but I want to bring in Jeffrey Toobin to talk about another huge aspect of this election, which may have brought a lot of Republicans home for Donald Trump -- the Supreme Court.

What does this race mean?

JEFFREY TOOBIN, CNN SENIOR LEGAL ANALYST: Well, I think we owe President-elect Trump the courtesy of believing what he says. And I think he means that he is going to appoint conservatives to the Supreme Court. That means limitations on gay rights. That means an end to affirmative action. It means less rights for immigrants, that easier deportations.

And this is, you know, what he ran on. It means a criminal prosecution of Hillary Clinton. And I think all these things are going to happen because this is the core of what he promised.

CUOMO: You think he's going to go after Hillary Clinton? I think that's a long shot.

TOOBIN: Absolutely.

CUOMO: Why would he do that?

TOOBIN: Did you listen to any of his rallies?

CUOMO: I listened to all of them. Did you listen to him this morning at 3:00? Did he say the word rigged? Did he say the word ask versus them? Did he say wall? He was conciliatory and congratulatory to Clinton.

TOOBIN: So, that one speech is going to cancel out the entire campaign?

CUOMO: Well, you just said we got to take him at his word.

CAMEROTA: Which word?

CUOMO: The most recent one, he's the president now.

TOOBIN: But he didn't repudiate. I mean, his supporters made promises.

CUOMO: You make a good point.

TOOBIN: And, look, Chris, who he was going to appoint attorney general? Rudolph Giuliani, who has been the leader of the group saying Hillary Clinton is a criminal. Half of his speeches have been about the crimes of Hillary Clinton are worse than Watergate. What is he just supposed to pretend he never said that?

CAMEROTA: So, Jeffrey, you think he'll have three cracks at the Supreme Court?

TOOBIN: Well, I don't know. I mean, look, the Democrats will try to hang on. I mean, he has one vacancy for sure, because one of the genius moves of all time was Mitch McConnell saying to Barack Obama, we're not going to even take a vote on your nominee. So, he kept that seat empty. That seat will, obviously, be filled by Trump.

Eighty-three-year-old Ruth Bader Ginsburg, 80-year-old Anthony Kennedy, 78-year-old Steven Breyer, you know, you never know how long they're going to serve and presumably Ginsburg and Breyer will try to last throughout Trump's term. But, you know, 83 is 83. She had a lot of health problems.

I mean, I just think, you know, this is what he ran on. And this is what he's going to deliver on.

CAMEROTA: Yes, panel, thank you.

FOROOHAR: You're welcome. CAMEROTA: We want to look now at the Senate races. There's still a

lot of uncertainty. Let's get to John Berman who is helping us with all the numbers.

What do you see, John?

JOHN BERMAN, CNN ANCHOR, EARLY START: Well, Alisyn, thanks so much.

There is certainty in this. Republicans have maintained control of both the House and Senate. Let's look at the map right now. We're looking at the chambers, I should say. Republican have 51 Senate seats. At least the Democrats 47. That guarantees a Republican majority.

Let's take a quick look at the run down. Illinois was the one bright spot for Democrats. Tammy Duckworth unseated Senator Mark Kirk. That race wasn't even close. But that was the one flip all night long.

In Florida, Marco Rubio won re-election there. Remember at one point, he said he wasn't even running, but after he loss the race for president, he jumped back in the Senate race.

[06:40:03] In Indiana, Republican Todd Young, congressman, beat former Senator Evan Bayh. At one point, Democrat thought, when Bayh got on the race, he'd be a sure thing. It turned out to have some real problems as a candidate.

Flipside for the Republicans in Missouri, Roy Blunt, an incumbent there, he was a troubled candidate, but he was swept into office on the Trump wave, defeating Secretary of State Jason Kander, a strong 35-year-old, who Democrats still think has a bright future there.

In Nevada, Harry Reid's Senate seat remains in Democratic hands. Catherine Cortez Masto defeated Congressman Joe Heck there. Harry Reid did have a big night. He won Nevada for Hillary Clinton and was able to help maintain control of his Senate seat in that state.

New Hampshire, this is still too close to call right now. The incumbent Kelly Ayotte, 1,500 votes ahead, but just like we can't call the presidential race there, so too the Senate race too close to call.

In North Carolina, this was thought to be a Republican seat in jeopardy and did not turn out to be the case. Richard Burr, the incumbent there, defeated Deborah Ross. Again, Donald Trump probably helps him a little bit in that state.

And in Pennsylvania, Pat Toomey won re-election there defeating Katie McGinty. This one was very close. If Hillary Clinton performed better in that state, perhaps you would see a different result.

Also, I should say, in Wisconsin, Ron Johnson, the incumbent there, beat former Senator Russ Feingold -- Chris.

CUOMO: All right, JB. Thank you.

CAMEROTA: Thanks, John. CUOMO: Got two big updates for you. Guess who just tweeted. President-elect Trump. What did he say? Right after this message.

We also heard from the Vatican.

(COMMERCIAL BREAK)

[06:45:35] ANNOUNCER: This is CNN breaking news.

CUOMO: Donald J. Trump will be the 45th president of the United States. The president-elect just sent his first tweet after his victory. Some had speculated, will he tweet as president? Yep.

Here's what he said, "Such a beautiful and important evening. The forgotten man and woman will never be forgotten, again. We will all come together as never before." Stark contrast to the message that propelled him to the presidency of the United States.

Let's bring in one of his earliest supporters in Congress, Congressman Chris Collins of New York. He was the first member to endorse Donald Trump.

But the big headline, Collins wins in western New York.

How do you feel? And congratulations.

REP. CHRIS COLLINS (R), NEW YORK: Oh, Chris, I just feel great. Yes, I'm very honored to be going back to Congress for two more years. I have a great district and constituency, but last night was all about watching the results and, you know, I had this, I've had this feeling for eight months, as you know. And I will say that he did as well or better that I thought that he might have into the night. I think we would have taken 270.

And so, when he started to pick off, look really strong not only in Ohio and Florida, but then Wisconsin, Michigan, Pennsylvania. I mean, it was an oh, my God moment, and then to know we locked down the Senate. I know it had to be a terrible night for Nancy Pelosi, Harry Reid, President Obama to basically get wiped out.

But I think it tells you the mood of the country. How this country is angry at the government. They are not satisfied with where their own lives sit, whether it's a job opportunities or wages. So, quite a night.

And I want to thank Americans for trusting Donald Trump and I can just assure them they will not be disappointed. They will be proud to call Mr. Trump their president as they get to know him as well as I do.

CAMEROTA: Let's talk about that, congressman. Not just Nancy Pelosi and President Obama and Hillary Clinton who are, obviously, having a very soul searching morning. There are so many Democrats that we've already heard from in just these past eight hours who are saying, how could this happen? They feel despondent this morning. They feel panic stricken.

Donald Trump did not run on unity. So, how does he work his way around now to the unity that you're talking about?

COLLINS: Well, what I'll say the Democrats have no one to blame but themselves. On the congressional floor, I called it the arrogance and smugness. They just knew that Donald Trump couldn't win, or so they thought. You know, they had this arrogance about themselves and it's amazing how that comes back.

But, really, what Donald Trump did. I mean, he won across the United States. He did not win the urban centers. He did not win the minority vote. It's that simple.

I don't think he cares if he ever gets the Hollywood elitists, like I suspect he doesn't want them to come onboard. He has pledged all along that he is going to work to rebuild our cities and make them safer and get jobs back and deal with the education system so he really lost the minorities.

(CROSSTALK)

CUOMO: Right --

CAMEROTA: But also 50 percent of the popular vote that didn't vote for him.

CUOMO: Right now, he's down in the popular vote. We still have some crunching to do with numbers. You know how inefficient the process is.

(CROSSTALK)

CUOMO: At least half the country. So, it's not just about the elites. He has half the country that has to be part of this tapestry and he started the right way this morning. In fact, better than you, Collins. He started by saying, he was conciliatory to Clinton. He saying, we'll be together like never before.

But how does he sell that to his followers, the ones who are on social media, right now saying, let's drain the swamp and you're on the list and you're on the list? They don't want conciliation. They don't want unit. They want to see rights, wrong. What do you say to those people?

COLLINS: No, this is going to be issue based. You know, build the wall and do what we have to do to get our jobs back.

But he is going to address the urban centers. That's where he lost. The urban centers and, in particular -- I mean, we know the African- Americans didn't support him hardly at all, Hispanics. But when he takes positive steps in the cities, relative to crime, jobs and education, they're going to come to understand probably even more so than if Hillary were elected.

[06:50:05] He cares deeply about our urban centers which have been under attack. The crime is rampant. Just imagine what goes on in Chicago every day. So, as he does address those as a priority, he will win back the

backing of those individuals who just didn't trust that he cared about them. And I think some of the, you know, some of the college-educated women that were put off by some comments, they're going to get to know the real Donald Trump.

And while, you know, you can't take back something you may have said 20 years ago, it's actions that speak louder than words and they'll find out that Mr. Trump is President Trump respectful and considerate and I think they will look beyond some of those comments that surfaced and they will be proud to say he is their president.

CAMEROTA: So, Congressman, he's made a lot of processes on the campaign trail. What do you think will be first in terms of will he build the wall? Will he talk about tackling, as you say, crime in Chicago? What about ISIS? What do you think his top priority will be?

COLLINS: Well, all of our top priority is to repeal Obamacare in the first 100 days. We already have the outline of a replacement plan. We've had it for a long time. Now, Mr. Trump will need to weigh in.

But we've already had the replacement plan on the shelf. The voters don't need to worry about their 25-year-old or younger staying on their policies or pre-existing conditions. We dealt with those. I believe number one, repeal and replace Obamacare in the first 100 days and, you know, then the other things will -- you don't defeat ISIS in 90 days, but he's going to have to put together his team, his cabinet, his advisers.

And, again, we're going to take a united front with our allies and even those like China and Russia to defeat ISIS other parts of the civilized world that is under attack. I believe the wall will be coming. You know, Congress had already moved years ago to build a large portion of that wall. Now, we can put that in as a priority.

And the other one is going to be the trade deals. We are not going to sit back and continue to have our jobs lost to Mexico and China. I think the president of Ford is going to have to rethink moving those small cars to Mexico.

CUOMO: The easy part, as ironic as this sounds, will be winning the election. Getting those things done will be a tall task and we'll see how it goes. Let's deal with first things first.

Congratulations, Congressman Collins --

COLLINS: Thank you.

CUOMO: -- both on the presidency to Donald Trump and your own victory there in western New York. Thanks for being on NEW DAY.

COLLINS: Yes, thank you very much, Chris.

CUOMO: Look forward to having you going forward.

COLLINS: OK. Thanks very much.

CAMEROTA: Let's talk about how Donald Trump pulled off this stunning upset and beat Hillary Clinton.

Here to discuss is CNN political analyst David Gregory and CNN political commentator, journalist, and author of "A Woman in Charge: The Life of Hillary Rodham Clinton", Carl Bernstein.

Carl, what are your thoughts this morning?

CARL BERNSTEIN, CNN POLITICAL COMMENTATOR: This is tragic and dangerous. That what is going to happen in this country, if Donald Trump follows through on what he said and the tenor of what he said and did in this campaign, there is an underlying racism that we can't get away from that is a big part of this story.

And, also, questions about, can a woman be president of the United States right now? But the underlying racism, that was the theme -- the idea of nativism, the idea of walling ourselves off in this country. This is now going to become policy in some ways.

We just heard the congressman talk about our inner cities in a way that defies facts. Crime is down in our cities. Yes, Chicago, there is a murder wave. No question. But the statistics are undeniable.

ROMANS: And New York is historically low.

BERNSTEIN: All over the country, basically.

CUOMO: But, Carl, America is also the leading manufacturing engine in the world.

BERNSTEIN: Yes.

CUOMO: But perception is reality, especially in politics. And Donald Trump took beautiful advantage of that in this election.

So, what do we see now as perception versus reality, David, because he comes out in the early morning hours and he doesn't say rigged. He doesn't say wall. He doesn't say Muslims. He doesn't say immigrants are all going to get out.

He says what we hear from every other president when they're elected. So, is perception now changing because of his reality?

DAVID GREGORY, CNN POLITICAL ANALYST: I don't think so. I think it will be an over-reading of a grace not in that acceptance speech to have that displaced what he campaigned on, which was divisive, which frightened his opponents, which was in many ways un-American talking about jailing his political opponent. There was bipartisan agreement on that.

[06:55:00] And I think one of the things we haven't talked about a lot is the challenge, not just from his opposition from Democrats, but what about from Republicans? Republican leaders, Paul Ryan, John McCain, Mitch McConnell, they opposed his talk about a Muslim ban, about building a wall.

So, what kind of opposition are they going to mount as they work with him or against him and hold him accountable for some of these things that he campaigned on and that his core supporters will expect him to follow up on, including pursuing criminal charges and investigation into the Clinton Foundation or perhaps more on the e-mail server, despite the fact that the FBI said, you know, I mean, maybe he'll fire Comey. He says it's all rigged.

BERNSTEIN: They also did not oppose him --

GREGORY: They did not opposed him, but the question is now --

BERNSTEIN: They went along with this.

(CROSSTALK)

GREGORY: No, no, I understand that. But what I'm saying -- absolutely. But do they exercise some accountability on him in their position of leadership or does he say, look, I'm leading the movement and I can -- because this has been building now.

CUOMO: But you're judging him as an ideologue and that's not what Donald Trump is. The idea that he is going to make good on his promises assumes a conviction that I don't know where you're --

BERNSTEIN: Actually, he's not an ideologue.

CUOMO: I agree.

BERNSTEIN: Many of the things that he's espoused in terms of substance are not ideological, don't fit with the right wing of the Republican Party. Rather there was, if there was any ideology expressed in this campaign, it was hate, disdain and marginalization. What he has to overcome if we're going to have some kind of hope.

GREGORY: You also said he's going to do these things. You have to hold him accountable. Barack Obama said he was going to close Guantanamo Bay. He never got it done. It's not that he didn't want to, but he couldn't because of circumstances. So, there's accountability, he ran on these things.

CAMEROTA: And he won.

(CROSSTALK)

BERNSTEIN: People voted for him. This is also about America.

CAMEROTA: Right.

BERNSTEIN: This is not just about Donald Trump. Yes, there is a genuine point of identification that Trump and Bernie Sanders made and they made it early about people who are suffering in this country and in this economy and it resonated, and Hillary Clinton was horribly late to come to recognition of this.

CUOMO: But Sanders didn't say, I will motivate your hatreds and I will write scores.

BERNSTEIN: that is the underlying message of the campaign and a reason why brown and black and immigrant Americans are frightened.

CUOMO: Not enough to come out and vote.

BERNSTEIN: No. They did come out and vote --

CUOMO: Not enough.

BERNSTEIN: Not enough to defeat him.

GREGORY: But Bernie Sanders, like President-elect Trump in that tweet talked about the forgotten men and women out there who felt left behind by the economy, by big institutions including government and the political process.

CAMEROTA: Carl, David, thank you very much. Great to have you here this morning.

CUOMO: All right. So, it wasn't just about electing a president, but that sure as heck was the biggest part. But there was a lot going on last night. We talked about the Senate and do you know how many different ballot measures there were last night? Over 150 and many advanced by citizens and many could change the way of life.

So, let's get to that. Christine Romans, what did you see?

ROMANS: All right, guys. On the ballot last night, some key issues. Among them, recreational marijuana. California approving a measure to legalize recreational use of pot. Similar measures were approved in Massachusetts and Nevada, Arizona and Maine's races on these issues have not been decided yet.

Florida voters overwhelmingly approving medical marijuana use, the first state in the South to do so. Arkansas and North Dakota also deciding whether to allow medical marijuana, while Montana voted on easing restrictions on an existing law.

Gun measures also on the ballot in four states. Voters in Maine and Nevada deciding on universal background checks for gun sales, including private transactions. Washington state voters approving a measure giving the power to judges to seize guns from people deemed to be a threat.

And California passing a referendum to require background checks for buying ammunition. Arizona and Colorado voters approving measures phasing in a $12 hourly minimum wage by 2020. A similar measure on the ballot in Maine. In Washington state, voters approved a measure raising the minimum wage there to $13.50 by the year 2020. The federal minimum wage is $7.25.

And California voters leaning towards a yes vote now on Prop 67, that keeps the ban on the use of plastic grocery bags statewide. Votes are still being counted on that one. Looks very close -- Chris. CUOMO: All right. Christine, thank you very much. We're going to

have a lot more coverage of what was certainly a historic election. What do you say? Let's get to it.

ANNOUNCER: This is CNN breaking news.

CUOMO: Welcome to you viewers in the United States and around the world. This is NEW DAY.

Donald Trump will be the 45th president of the United States. The president-elect pulling off a stunning upset over Hillary Clinton, 289 electoral votes at last count.

Three states still too close to call, but they won't change the outcome for Clinton. They could expand the mandate for Trump.