"Powell Effect" Extends Market Sell-off, Blue Chip Earnings Reaction, Snap's "Challenging" Quarter and a New Chapter in Musk's Battle to Buy Twitter. 04/22/22

Carl Quintanilla, Jim Cramer and David Faber discussed what to make of stocks extending Thursday's sell-off, which was sparked by Fed Chair Jerome Powell saying that a 50 basis point hike will be on the table when he and his fellow policymakers meet in May. The anchors also reacted to numbers from the likes of American Express, Verizon and Snap -- whose results reflected a "challenging" quarter according to Snap CEO Evan Spiegel. Also in focus: The Twitter board's next move after Elon Musk reveals financing aimed at buying the company, Gap tumbles on sales guidance and news that Old Navy's CEO is departing, Kohl's proxy battle, the end of the road for CNN+, and Disney's lobbying machine hits a GOP roadblock.