[Bolduan:] Two hours into the trading day on Wall Street. The market reacting to Britain's decision to leave the European Union. Alison Kosik is there, has been there all morning for us in the New York Stock Exchange with the very latest. Alison, what are you seeing right now?
[Alison Kosik, Cnn Money Business Correspondent:] We are, Kate, seeing the losses accelerate and the losses are sticking with the Dow down 465 points. Still a little better than it was earlier. We did see the Dow down as much as 539 points. But we still continue to see that flight to safety, to those considered to be safe haven investments like gold and U.S. treasuries. We are seeing yields really fall, and that could wind up affecting interest rates in a big way, especially if you carry a mortgage. It means your mortgage rate could go down. That's good news if you're looking to finance or refinance your home. Also, one other good bit to this to give you a little bit of a bright spot on this Red Friday or this black Friday as you can call it, oil prices down 4 percent. That could translate to the gas station as well Kate.
[Bolduan:] Watching it closely. Alison, thanks for that update. We're keeping a close eye on that. It will be a volatile day ahead, maybe a couple of days ahead. Let's bring back our conversation, though, to talk about not only the global economic impact but the politics of it now. Rana Foroohar is back with us. Steve Elmendorf is back with us. Also joining me now, CNN political commentator and Trump supporter Kayleigh McEnany, and Republican consultant Brett O'Donnell. Bret, important to note for this conversation, did consulting work for the vote leave campaign in the U.K. Guys, great to see you once again. Brett, Hillary Clinton's campaign did not agree with me when I posed this to them just a short time ago. I will ask you though. Is the U.K. having a Donald Trump moment?
[Brett O'donnell, Consultant, Uk's "leave" Campaign:] Well, in some respects. People in Britain were very frustrated with immigration and the loss of control of their borders. They face a situation where there's free movement amongst 28 nations, the prospect of five others joining and the overstretch of their public services left them in a situation where they believed immigration was a huge problem facing the country. So, in that respect, immigration being important was certainly a driving issue in the race.
[Bolduan:] One of the things that Donald Trump in his remarks today, Rana, he said that immigration was a key part about this, maybe the driving part behind this vote. When you look at Brexit from your perspective, how much of it was immigration and anti-immigration sentiment and how much of it was economics?
[Rana Foroohar, Cnn Global Economic Analyst:] You know, certainly, a big part of it is immigration, but immigration is really part of the whole process of globalization. If you think about what globalization is, it's the free movement of people, capital, and labor across borders, and I think that what voters were saying is that their questioning this. They're questioning the economic benefits of it. I think that there is sometimes a nationalistic, xenophobic part of that, but there are also legitimate reasons that one might want to control migration. Unfortunately, I think that the real legitimate economic debate got lost in a lot of the anger, you know, which, of course, culminated in the murder of an MP in the
[U.k. Bolduan:] You know, in reacting to this, Donald Trump is in Scotland an unconventional candidate with an unconventional first overseas trip itinerary and an unconventional then response after this historic vote. He spent the first ten, maybe just short of 15 minutes promoting his golf course. As I was listening to him, he's talking about an entirely new sprinkler system and how great the suites are and everyone should see the suites at the Turnberry resorts. The world was watching. I don't think that's an overstatement. Here and abroad we're watching to see how Donald Trump is going to react to this. That's how he spends a big chunk of that conversation as he takes to the microphone. Is that how you would have advised him to take it on, Kayleigh?
[Kayleigh Mcenany, Cnn Political Commentator:] I think he handled it perfectly today
[Bolduan:] Why?
[Mcenany:] because the first thing he said when he got off the plane is that he's proud of England. This is a big moment for the United Kingdom. He acknowledged it and then he did what he intended to do which was to be there for his son. It was a big moment for his son. He was a father who was there for his kids. He knew that the moment would come ten minutes later during a press conference where he had the ability to address what happened, and what happened was you had Barack Obama go to the United Kingdom, you had alongside Christine Lagarde, alongside the prime minister, alongside Hillary Clinton who stayed back here and advocated for this globalist sort of policy, and you had the United Kingdom, the voters rejected. And northern England you had huge working class turnout saying, we don't want this, it's not good for us, we're tired of regulations. The E.U. is about to put in regulations on hair dryers and kettles. And you can't even make a croissant without going through all of these Orwellian regulations. That
[Bolduan:] Don't hit with my croissants, Kayleigh. Don't hit my breakfast.
[Mcenany:] I won't.
[Bolduan:] So, I know you've got a lot to say. As we just heard from Brian Fallon, they are jumping on his words in the way what Donald Trump said today, saying that they think what he said today shows that he is even less qualified for office. He doesn't have the temperament to be president of the United States. But play this game with me, I like to do sometimes, Steve Hillary Clinton, though, woke up this morning, saw this headline, she was pro remain, U.K. decided to leave and she said what?
[Steve Elmendorf, Former Deputy Campaign Manager, John Kerry '04:] Well, she put out a statement and talked about the problem here, but I think Donald Trump's press was bizarre. I mean, the fact that you would spend ten minutes talking about how building a government golf course is like building a country and trying to sell suites at your golf course when we're having this moment of world economic crisis, when people are worried about their 401K,
[Bolduan:] Kayleigh, does it fly in the face of what was a strong message, one of the strongest lines, she says I'm with her. I'm with you, American people. Does that fly in the face of it?
[Mcenany:] I don't think so at all, because here's the thing. The reason he was articulating, you know, the prestige of this new golf course is because this is what his son built. He took a moment away from the campaign. Ten minutes, I think we can all afford 10 minutes to praise the work of his son. I think that's a great thing for a father to do, and then he pivoted to what is a very important issue. He handled this brilliantly. He was spot on today.
[Bolduan:] Brett, I want you to weigh in. What do you think and everyone has an opinion on this. What do you think the impact of the Brexit vote over there, what does it mean over here? Does it help Donald Trump's message? Does it help Hillary Clinton? What does it help more?
[O'donnell:] Well, I think it hurts Hillary Clinton and it hurts Barack Obama significantly. Both of them have campaigned or were support of
[Bolduan:] But wouldn't they have also been criticized if they hadn't given an opinion o it?
[O'donnell:] Well, maybe, but I think they should have respected the will of the British people to vote. I mean, this was an important moment where Britain decided to take back control of its borders, of its economy, and of its democracy, and I think that's what it represents. Now, how it plays in the United States we'll have to see but it super charges the immigration issue and sends a signal that worldwide, people want borders.
[Bolduan:] And also put that on the heel of this, coming on the heels of the very important, very non-conclusive, conclusive Supreme Court decision on immigration. Immigration once again front and center in this election. Guys, thank you very, very much. I appreciate your time. Thanks, Brett, great to see you. We're waiting right now. President Obama's first live remark since the U.K.'s historic vote. The president pushed hard for the U.K. to stay in the European Union, even saying that leaving would put the U.K. towards the back of the line when it comes to trade deals with the United States. What does the president say now? An important moment for Barack Obama. We're going to bring you those remarks live. We'll be right back.