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Donald Trump Elected President; Global Markets Plunge. Aired 8:30-9a ET

Aired November 09, 2016 - 08:30   ET

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

[08:30:00] REP. SEAN DUFFY (R), WISCONSIN: Let's reduce the size and the influence in our lives of our government, and let's look back to the American people. We'll still have government in our life, but more limited, but letting families and people and small businesses run their lives the way they see fit without this nanny state looking over their shoulder trying to manage their lives for them.

CHRIS CUOMO, CNN ANCHOR: True.

DUFFY: I think that's the real message that comes from Donald Trump.

CUOMO: True, but, look, what has people anxious isn't the, wow, which tax plan are we going to go with. You know, how is this going to work economically in terms of our jobs engine. What was dividing the country was more of this cultural play. You know, Kellyanne, who, as you know, we've known a long time here, she was saying, boy, you guys sure are being negative about this. It's not on us. The election was very negative. So now it's just a practical question. Do you really appoint a special prosecutor to go after Hillary Clinton or do you deal with what you're talking about? What do you think the priority should be?

DUFFY: Well, listen, I think the priority should be what the main themes of the campaign were. And I just -

CUOMO: That was one of them. They chanted "lock her up" at all the rallies like the last month. Do you deliver on that or do you do what you're saying?

DUFFY: Well, I think the sentence and the conviction came last night in the vote and people said, you know what, we don't want corruption in Washington. We've seen it in the Clinton Foundation. We've seen it in the Clinton State Department. We don't want that. And I think that was probably one of the largest drawbacks to Hillary Clinton's campaign is the scandalous behavior before she ran. And so, yes, I mean that's - I think the American voters have done more to her than Donald Trump will.

But again, I don't think the American voter, Chris, they don't want us to focus on that kind of stuff. They want to focus on working for them. And again, moving the country forward with ideas that are actually going to - it's going to grow the economy. You know this. You and I have talked about this. Americans feel like they've been left behind, so many of them. In my part of the world, they've had a historic vote for a Republican president, first time since 1984. People are saying, where's the government working for me? Or, stop bringing me down, get out of my way and let me live my life. That was historic in Wisconsin, the first time since 1980 that a Republican senator won in a presidential year. So I think if we don't get about the business of the people, and that's disregarded and that focus is sent somewhere else, you'll see the people rise up and push back.

CUOMO: Well, you got a big mandate yourself. Over 60 percent of the vote. Congratulations to you. And as you know, these ideas for how to make life better for people in America always have a home here on NEW DAY. You're welcome all the time. Congratulations, congressman.

DUFFY: Hey, thank you, Chris.

CUOMO: All right.

Alisyn.

ALISYN CAMEROTA, CNN ANCHOR: If you are just waking up to the stunning news that Donald Trump won the presidential election, you are not alone in being surprised. Up next, Ana Navarro. You don't want to miss this.

(COMMERCIAL BREAK)

[08:36:53] ANNOUNCER: This is CNN breaking news.

CAMEROTA: We do have breaking news of the biggest variety. If you are just waking up, Donald J. Trump is now president-elect of the United States. Hillary Clinton is set to speak at 9:30 Eastern. And, of course, CNN will bring that to you live. We can only imagine what is going on inside Clinton's inner circle this morning. But, on the - the whole, Democrats' heads are spinning, it is safe to say. And so are some Republicans who called themselves never Trump voters.

Let's bring in one of them, CNN political commentator Ana Navarro.

ANA NAVARRO, CNN POLITICAL COMMENTATOR: With my shirt. (INAUDIBLE) -

CUOMO: T.G.I.O., thank God it's over.

NAVARRO: Thank God it's over.

CUOMO: Is it over or is it just beginning?

NAVARRO: Well, one nightmare is over. Another is about to begin. But, look, we are all Americans. At this point, he is President-Elect Trump. I don't like Donald Trump. I respect the office of the presidency. All of us who for the last weeks have been saying this is not a rigged system. This is a system we must respect. Well, that holds true today -

CUOMO: Yes.

NAVARRO: Regardless of what the result is. He -

CAMEROTA: Yes, sometimes with democracy you don't win.

NAVARRO: He won, fair and square. We've had 240 years of democratic peaceful succession in this country. And we're going to have four more years. And I think - I frankly think that, as much as I dislike him, he's now my president-elect. He is our president-elect. This country's success is all of our success. So at that point, I wish him success. I hope and pray -

CUOMO: How about what he said coming out of the box as president- elect? Wasn't that a message that you would find comforting?

NAVARRO: I found very little comforting last night. So -

CUOMO: He was conciliatory towards Clinton. He said flattering things about her.

NAVARRO: Yes, no, look, he had -

CUOMO: He said, I want you all to know I'm for all of you. It's time to bind the wounds. It seemed to be a nod that all that stuff I said during the campaign, let's leave it there. That's how some are taking it.

NAVARRO: Let's hope so. Let's hope that he was playing a character for campaign purposes. He's an entertainer. Let's hope that that's what he was doing and that the Trump that becomes president I think feels the weight of the position, the responsibility and duty of the position and realizes that governing a divided country is very, very difficult. It would have been the same thing for Hillary Clinton. Regardless of who would he won, we would have woken up today with 40, 45 percent of America completely disenfranchised and feeling in despair.

And that's what's happening right now. Whomever is the next president, with the help of Congress, with the help of the American people, needs to figure out a way forward to bring us together. And I hope and pray that the Donald Trump we saw in the campaign is not the Donald Trump we see as president of the United States. And I think that all of us who dislike when, you know, some people wanted Barack Obama to fail from day one, well, we can't do that to President-Elect Trump. We've got to hope for his success. We've got to hope for our country's success.

CAMEROTA: And what does this say about the country? When you wake up and you see all the red on that map behind you today, you're a Republican, what does this say about your party and its future and the country?

[08:40:02] NAVARRO: Look, I think - I think John Edwards was - was a little bit ahead of his time. I think it is two Americas. If you walk around today, if you talk to people, you - it really does feel like two Americas. It feels like - and I'll tell you what it feels like. It feels like a white America and it feels like a non-white America. So don't go far, my friends, because I'm holding you up as my white token (ph) friends, okay?

CUOMO: Although now that would seem to be what's in, because you have a very stark divergence in what happened in this election. The irony is, you say John Edwards. Mario Cuomo in 1984, against Ronald Reagan's message of a shining city on the hill, argued it's actually a tale of two cities. The parties have swamped that message. That is your party now that owns the middle class. The question is, can Donald Trump deliver on that mandate? What are your thoughts?

NAVARRO: I don't know. I know that he can't do it alone. I think that if he continues extending an olive branch and being conciliatory, I think we've got to give him the benefit of the doubt. I think he deserves a little honeymoon period, even if - you know, between now and the - and the inauguration. We've got to see what type of people he appoints to be around him. Hopefully folks with gravitas. God, I hope Kellyanne Conway is around because she's the Trump whisperer. She can manage him, his persona.

I think that what Hillary Clinton says today is going to be very important. What tone does she adopt? And I would tell you the Republican Party has tremendous problems. But so do the Democrats. So do the Democrats. And I would say -

CUOMO: Yes, they do.

NAVARRO: I would say, you know, they - we all own what happened last night.

CUOMO: Sure.

NAVARRO: You know, Democrats probably nominated the only person who could lose to Donald Trump. And she did. And I - you know, I think she - she ran a pretty good campaign. But at the end of the day, it comes down to the candidate. And there were things that the Clintons did in the last eight years that I think raised a lot of questions for a lot of Americans and they turned that into a benefit of the doubt vote for the outsider.

CAMEROTA: All right, let's bring in the rest of our panel. We want to bring in CNN political commentator and senior contributor to "The Daily Caller," Matt Lewis, CNN's political analyst, and Washington bureau chief of "The Daily Beast," Jackie Kucinich, CNN anchor of "Early Start" and "At This Hour," John Berman.

So, Matt, at the beginning of this morning, I said that you yesterday predicted that Donald Trump would win North Carolina and Florida, but you predicted Hillary Clinton would still pull out the presidential win. What are your thoughts this morning?

MATT LEWIS, CNN POLITICAL COMMENTATOR: First of all, I think that - that, you know, look, we can talk about the FBI Comey story. That changed things.

CAMEROTA: And you - do you think that that had a big effect?

LEWIS: It certainly helped Donald Trump close much stronger than he ran any other part of this campaign. He was on message. He was on script. And, of course, the wind was at his back and Hillary was on defense. You can talk about the Obamacare premiums. You can talk about the

Russian WikiLeaks story. I think the real story, though, is that this is an international trend. And I think Donald Trump, maybe the reason what he was seeing is that America lags Europe. And whatever Europe does, we eventually do. And if you look at Berlusconi, or Lapen (ph), maybe he sort of played that model out. And so I think that this isn't about anything that Hillary might have done differently, if she had just gone to Wisconsin. I think that this is a large trend that Donald Trump just caught at the right time.

CAMEROTA: A national (INAUDIBLE).

NAVARRO: You don't think - you don't think Hillary's trustworthiness issue, not what she should have done or could have done in the campaign, but, you know, what she - the Clinton Foundation, the blurry lines between the philanthropic, political and business worlds of the Clintons, Huma Abedin with four contracts at the - simultaneously.

CUOMO: Look, the proof - the proof is in the - the proof is in the underperformance. But I want to get your take. You both were technically never Trumpers. Now you're moving forward, right, as we all need to?

LEWIS: Call him out when he needs to be called out but support the president when he's right.

CUOMO: And that's - and that's the proposition that I want to ask you about, because what we're hearing this morning is, guys, don't be negative. Don't be negative. It's not that simple because of the nature of what this campaign was. This wasn't a man who campaigned on, I can fix the deficit and here are my four ways why and I know everybody says it's crazy, but I'm a businessman. That's not what it was. This was about root cause issues of who we are and who we're not and it was ugly and it was divisive. Isn't it legitimate to question now, well, which Trump are we getting? Are we getting the one who says, we're all going to be together, and that stuff was just a campaign, or is it, I'm appointing a special prosecutor and I'm putting Hillary Clinton in jail? Isn't that a legitimate question.

NAVARRO: The bottom line is - but the bottom - it is a legitimate question. But the bottom line is, we can't answer it this morning. We absolutely can't answer it. We've got to base the answer on is the last 18 months -

CUOMO: He could. The campaign could. He said he could say, I have different priorities. I'm (INAUDIBLE) -

NAVARRO: Well, we're - we're going to see it - we're going to see it through - through performance. We're going to see it through appointments. We're going to see it through the people around him. We're going to see it through the speeches he makes, the places he goes between now and January 20th and maybe we'll have a better answer then.

LEWIS: I'm with Ana, it's a tale of two Trumps. You know, is this the Donald Trump who wanted to ban all Muslims coming into America, or is this the Donald Trump that sounded much more conciliatory last night? I hope, like you said, that he was sort of fronting a little bit to win the election, and he will actually govern more in a more statesman-like manner.

JACKIE KUCINICH, CNN POLITICAL ANALYST: (INAUDIBLE).

[08:45:18] CAMEROTA: But, unknowable.

Go ahead.

KUCINICH: Although I do wonder if some of the people around him might change. Steve Bannon and the Breitbart news site has run some pretty terrible, divisive things. (INAUDIBLE) -

CAMEROTA: But why would he change after this success?

KUCINICH: Well, it makes sense. But I'm saying, now it's governing. It's different.

JOHN BERMAN, CNN ANCHOR, EARLY START & @THISHOUR: He won.

KUCINICH: It's - he won. But now we're talking about governing. And if we can't bring people together if you have someone who's put out things that are anti-Semitic on their website -

CUOMO: It will be an interesting confirmation process.

KUCINICH: Right.

LEWIS: There - there is fear - I mean there -

BERMAN: But it won't be. I mean the Republicans have control of Congress. The Republicans are a complete utter control and Donald Trump helped build, or maintain at least, the majorities in the House. I don't think there's any reason to believe the confirmation process will be anything other than smooth sailing.

NAVARRO: I do. I do. I do.

CAMEROTA: Why?

NAVARRO: Well, first of all, because it requires -

BERMAN: Who - who's going to stand up to him? Who's going to stand up to him in Congress?

NAVARRO: Every - Lindsey Graham, John McCain, Rob Portman. People who didn't need him to win. And, look, I - I think, Donald Trump, he is the dealmaker. He needs to bring in these Republican leaders who maybe did not support him and they need to figure out an agenda together.

BERMAN: (INAUDIBLE) together -

NAVARRO: Paul Ryan may it very obvious that he didn't like Donald Trump. That Donald Trump does not stand for the same Republican values he embraced. Now we're in for a reality check, right? Republican House, Republican Senate.

BERMAN: But when he signs - when he signs the Obamacare bill that they pass in the first week, they're going to like him a whole lot. And when they continue to -

CUOMO: That's true, too.

BERMAN: You know, when he nominates -

NAVARRO: Sure.

BERMAN: The next Supreme Court justice, that's not Merrick Garland -

CUOMO: That's true, too.

BERMAN: They're going to like him more (ph).

NAVARRO: Well, I'll tell you, if he - if he sticks to that list of supposed Supreme Court nominees that he published, I think they will. But I will also tell you that if he shows up with a proposal to build the wall the first 100 days, they're not going to like it at all. The Paul Ryan I know, the John McCain, the Lindsey Graham, the Rob Portman I know is not going to like it.

KUCINICH: But Paul Ryan still wants to be speaker.

BERMAN: Yes.

KUCINICH: And if he starts standing up to Donald Trump on the wall, he's going to have a - he's going to have a revolt in his conference.

BERMAN: And he - and the wall - the wall - so, you know, so you build a digital wall or you make a little bit of a wall here and then everyone says they win. The harder thing for Paul Ryan is when, you know, when Donald Trump passes an infrastructure bill and doesn't say how to pay for it. When Donald Trump doesn't pay as much attention to the deficit as Paul Ryan has jealously guarded, you know, said for the last, you know, 12 years of his career that he cares so much about. That's not a priority for Donald Trump.

LEWIS: There's also - there's also a theory that - and this might sound like wishful thinking and a bit quixotic, but you go to like someone like Thomas Beckett, right -

CUOMO: Sure.

LEWIS: This is a guy who was a drinking buddy, a pretty irresponsible guy with, you know, with the king, and then he becomes the archbishop of Canterbury, and now he adopts the persona that you would expect from an archbishop and he actually defends religious liberty, ends up becoming a martyr. Maybe that's a bit - asking a bit much for Trump, but sometimes people rise to the occasion and adopt the role that they're supposed to adopt.

CAMEROTA: On that note, that silver lining note that everybody is hoping for this morning, we'll leave it there. Panel, thank you very much.

NAVARRO: Thank you.

CAMEROTA: Global markets are in turmoil, though, after Donald Trump's big win. How will the U.S. markets open this morning? We'll discuss that next.

(COMMERCIAL BREAK)

[08:52:15] ANNOUNCER: This is CNN breaking news.

CHRISTINE ROMANS, CNN ANCHOR: Donald Trump will be the 45th president of the United States. Global markets sharply lower on this news. The U.S. stock market set to open in 37 minutes and it looks as those investors will sell stocks.

CNN business correspondent Alison Kosik is at the New York Stock Exchange.

Good morning, Alison.

ROMANS: Good morning, Christine.

So we are expected to see the Dow drop about 200, maybe even up to 300 points when that opening bell ring in about 40 minutes. But believe it or not, that's an improvement from what futures did overnight because as those election returns came in, we saw the Dow futures dropping as much as 800 points. So we're not anywhere near that. We're also seeing an improvement in global markets as well. They are trading off their lows.

So what has got Wall Street so spooked? Well, first of all, the shock of it all. The shock of Donald Trump becoming the president-elect. What also shocked Wall Street, or worried Wall Street, is the unpredictability of a Donald Trump. Wall Street doesn't like surprises. It wants to know what's going to happen. And with Trump he kind of just threw out the playbook on just about everything where Wall Street is concerned. So Wall Street doesn't know what to expect. But one thing to keep in mind, historically the day after elections, we usually do see a sell-off. Case in point, the day after President Obama was elected in 2008 we did see the S&P 500 sell off about 5 percent.

Back to you.

CUOMO: All right, thank you very much, Alison.

Let's discuss. Let's bring in - let's bring back Christine Romans, CNN global economic analyst Rana Foroohar and host of "Quest Means Business," Richard Quest.

So, Rana, the markets, we expect a dip. It happened every time Trump made a move in the polls. Why? Uncertainty? Who will he be? Who will he not be? What will his agenda be? We see volatility now as a result.

RANA FOROOHAR, CNN GLOBAL ECONOMIC ANALYST: Yes. CUOMO: How deep, how long?

FOROOHAR: I think you're going to see a sell-off, but I think it's going to be short and sharp. And then I think after that the markets are probably going to rebound to a certain extent. That's typically what happens, by the way, after any presidential election. Markets don't like uncertainty, as we know.

I think what's going to happen now though is any time you get a bit of bad news, soft growth figures in China, a bad jobs report, something problematic happening politically in Europe, you're going to see markets react more strongly than they might have pre-election because we don't know what Trump's economic policies are going to be yet. Is he going to be a demagogue or is he going to be a pragmatic businessman? We don't know. We're going to have to watch who he appoints. We're going to have to watch his rhetoric over the next few weeks.

ROMANS: Yes.

CAMEROTA: Richard, you also see some complications for Donald Trump himself.

RICHARD QUEST, HOST, CNN'S "QUEST MEANS BUSINESS": Oh, yes.

CAMEROTA: Because he has some conflicts of interest businesswise.

QUEST: Oh, yes. I mean he owns hotels. He owns buildings. His name's on buildings. There's nothing wrong with that. But how do you take those business interests, put them in a blind trust, and pretend they're not seeing them. My tourism policy. No it's not a - my real estate policies. No, it's in a blind trust. I don't know about these properties that have got my -

[08:55:06] CAMEROTA: We can see you, Richard.

QUEST: That's my point.

CUOMO: That's the point.

QUEST: That's my point.

CUOMO: You think you can't be seen, but the blind trust isn't really blind.

CAMEROTA: I get it. Thank you.

QUEST: Look, the old days of a portfolio where you put it all in - and, I mean, remember, now here's - if I'm not incorrect, I believe when Jimmy Carter came into office, he put all his farming stuff and everything into a blind trust.

CUOMO: Right.

QUEST: And when he and Rosalynn left the White House, they were just about bankrupt. The money - they were in a really bad way when they left.

ROMANS: So but you still oversee it though. Here's the question. He's got GOP control of Congress, right? I mean who's going to be the oversight of what he should do? You know, where are the rules?

FOROOHAR: Yes. Yes.

ROMANS: Who's going to - who's he - he's the president of the United States. Who's going to hold him accountable?

QUEST: First of all, there's no strict rule with regards to the president of the United States -

CUOMO: Right.

QUEST: With regards to blind trust. It's been custom and practice. It's not like there's a - there's a rule that says you've got to do this. He's expected, and I have no doubt he will follow the highest standards that are expected of somebody of that (INAUDIBLE) office.

CAMEROTA: You do? You don't think that he'll just keep his business, his businesses going, because he's broken the rules on so many things in this campaign?

ROMANS: He didn't release his taxes. I mean stays (ph) traditional to release your taxes to the American people.

QUEST: I think we have to give him the benefit of the doubt. The man has just - no, no -

FOROOHAR: I'm sorry.

QUEST: The man has just won the election. The man has just won the election.

CAMEROTA: Yes.

QUEST: We have to give him the benefit of the doubt (INAUDIBLE).

CUOMO: Well, he has actually - he - he has won the chance to get the benefit of the doubt.

FOROOHAR: Yes. Yes.

CUOMO: I think that's fair. He won the election. That means he deserves to be given a chance to succeed or fail based on what he does from here. That's easy with this conflict stuff compared to how he has to distinguish his message during the campaign.

QUEST: Yes.

CUOMO: With his actions because -

FOROOHAR: Well, no, I - I completely agree. I think that's a great point. And I think that really a lot of what happens in the markets and a lot of what happens in the economy is going to hinge on, is he going to take a democratic with a small "d" approach to government and communication? Is he going to be pragmatic? And really live up to our expectations of the leader of the free world.

ROMANS: Well, what is it (INAUDIBLE) American - but American workers. I mean he got elected because American workers feel like they're not getting a fair shake. So what is he going to do for American workers? I mean -

CUOMO: What if he goes to Paul Ryan and, look, Donald Trump, having known him a very long time, the guy knows how to make a deal. He wants to make a deal. He's never wanted to make a deal more than he does right now. He can go to Paul Ryan and say, what do you want that's easy? What can we get done?

ROMANS: Infrastructure. Infrastructure.

CUOMO: Why don't you give me a list of regulations and taxes that are on businesses right now that you want to go - you want to go away.

ROMANS: Now that would be good for Wall Street (INAUDIBLE).

CAMEROTA: Yes.

CUOMO: And he says, I'm proposing this. Ryan pushes it through.

ROMANS: Yes.

CUOMO: Quick, easy victory. That helps the economy. And you move from there.

QUEST: But he's got this number, 4 percent. He said he's -

CUOMO: Campaign promise.

FOROOHAR: I'm giggling again.

QUEST: It's more than a campaign promise. He repeated it again and again.

CUOMO: It was a promise he repeated a lot. Now he is governing and any growth is good growth. Pleasing his base, OK, will be the easiest job he has.

QUEST: But how do you get - how do you get growth when world trade is slowing down -

FOROOHAR: Yes.

QUEST: Europe's a basket case. And China's got economic problems.

ROMANS: He has (INAUDIBLE) -

CAMEROTA: (INAUDIBLE) -

ROMANS: He has an equal shot of a recession quickly as 4 percent growth. FOROOHAR: Absolutely. Absolutely.

ROMANS: Equal is not bigger chance for -

FOROOHAR: Chances -

QUEST: Oh, no, no. No, the greater chance of a recession than 4 percent growth.

ROMANS: Yes. I would agree.

FOROOHAR: Yes. I agree as well.

QUEST: Particularly when he's almost at war with the Fed chairwoman.

ROMANS: Well, that's the other big question, what happens to the Fed.

CUOMO: Janet Yellen.

QUEST: Yes.

FOROOHAR: Yes.

ROMANS: Does the Fed raise interest rates in December now or -

FOROOHAR: No. No - no way.

CUOMO: Why would they in this - in this environment, why?

ROMANS: Why wouldn't they or why would they?

CUOMO: Why would they?

ROMANS: There's a lot of uncertainty now about what the - what the landscape's going to look like.

FOROOHAR: Yes.

ROMANS: You know, the -

QUEST: They'd be mad to.

FOROOHAR: I think that they absolutely - one of the questions is, is Janet Yellen going to step down? I mean, you know, Trump has publicly disavowed her. He's said, look, she's political.

CUOMO: That was then. This is now. And I know that sounds naive. But, again, the man deserves a chance. He also deserves a chance to distinguish what he said during that campaign from how he'll be different and hopefully he does it through actions that are positive (ph).

QUEST: No. No, he doesn't - he doesn't have the -

FOROOHAR: Well, the economy is going to depend on it.

QUEST: He deserves a chance, but he doesn't have the right to run away from firm policies that he put forward that the American electorate -

CUOMO: Define a policy.

QUEST: Well, 4 percent growth, immigration, build the wall.

CUOMO: That's a goal.

ROMANS: This is going to depend a lot on who his team is.

CUOMO: Those are goals.

FOROOHAR: Yes, true enough.

ROMANS: We're going to want to see who his team is because there are people in his team, some who are very, very sharp on American trade policy, as is others who are less concerned about trade policy and more concerned about other pro-growth policies and tax cuts. So there's even some warring inside his team. It will be interesting to see who's the Treasury secretary -

FOROOHAR: Yes.

ROMANS: Who his - his - the cabinet's going to be the key here.

FOROOHAR: Yes. Yes.

CAMEROTA: Panel, thank you very much for discussing all of these possibilities with us.

ROMANS: You're welcome.

CAMEROTA: And thanks to you for spending this momentous morning with us. Stay with CNN. We will hear from Hillary Clinton at 10:30 a.m. Eastern. She will be speaking for the first time after conceding the election to Donald Trump and we will bring that to you live.

CUOMO: One of the most exciting moments in our democracy is to see what a new president does in these early moments after this victory. It was an historic day and it continues with coverage from the "Newsroom" with Carol Costello.

Carol.

CAROL COSTELLO, CNN ANCHOR: That it does. You guys have a great day. NEWSROOM starts now.

[09:00:07] And good morning. And thank you so much for joining me. I'm Carol Costello, in Washington, D.C.