Squawk on the Street SOTS 2nd Hour: Navigating the Sell-off, Blackstone COO on Credit Concerns, & LIVE: Target CEO 3/3/26
Mar 3, 2026
John Gray, Blackstone president and COO, tackles private credit, record redemptions, and liquidity questions. Michael Fiddelke, Target CEO, outlines his turnaround plan, merchandising resets, tech experiments, and investor guidance. They discuss market volatility, geopolitics, and how long-term strategies shape responses to redemptions and retail recovery.
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Hidden Volatility Preceded The Big Selloff
- Market breadth deterioration signaled a broader flush as negative volume topped 90% and the S&P cracked year-to-date support near 6720.
- Mike Santoli highlighted hidden internal volatility despite calm index levels, making index-wide volatility likelier.
War Aims And Limits Shape Market Reaction
- Richard Haass criticized the U.S. approach to Iran as a 'war of choice' and warned mission creep risks since regime change can't be achieved from the air.
- He emphasized unclear U.S. aims and the likelihood Iran remains anti‑American and supportive of proxies.
Use Frequent Collaborations To Reignite Retail Excitement
- Reclaim merchandising authority by increasing collaboration cadence and newness across key categories to drive foot traffic.
- Michael Fiddelke plans more limited-time partnerships, 3,000 new items and 60 new beauty partners to spur growth.