Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
"I think the public is walking into a trap again as they did in 2007," the activist investor told CNBC's "Fast Money Halftime Report." "I think it's almost the duty of well-respected investors, like myself I hope, to warn people, to tell people, that really you are making errors."
Icahn compared the current market situation to the prerecession days, when mortgage-backed securities were being widely sold. "It's almost deja vu," he said. Many companies are selling at huge multiples and reporting earnings that are "sort of fudged" due to various accounting methods, he said.
"I do think you are going to have a dramatic pullback, certain things may happen," he said. To remedy this, Icahn would like to see the government and regulators look at the way earnings and guidance are reported by companies.
The chairman of Icahn Enterprises said he doesn't understand why someone would buy a high-yielding bond that is significantly riskier than a corporate bond, which could bring in 3 percent over seven years.
"Even if the Fed starts raising rates, those high yields are very suspect now," he said, because who is going to buy them?
Meanwhile, Icahn said that the economy is picking up, though "I'm not sure how much of that is artificial because of low interest rates."
"The longer you wait to take the patient off the medicine, the harder it will be to curtail inflation, and it [inflation] will come," he warned.
Earlier on Wednesday, Icahn said his firm sold off its remaining stake in Netflix, a day after it announced a 7-for-1 stock split. He said Apple "currently represents [the] same opportunity we stated [Netflix] offered several years ago."
Read More Carl Icahn sells last of Netflix shares
This isn't the first time Icahn has warned about the markets. Last October, he cautioned that the high-yield market is in a bubble and that he was ''quite concerned that something is going to happen'' to the stock market.
—CNBC's Everett Rosenfeld contributed to this report.