Allianz's Mohamed El-Erian on what Friday’s margin call means for the broader market

Shares of ViacomCBS and Discovery both rebounded after coming under intense selling pressure last week. The two companies were believed to be hit by forced liquidation of positions held by the multibillion dollar family office Archegos Capital Management, a source familiar with the situation told CNBC. Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, joined "Squawk Box" on Monday to discuss what he thinks the move means for the broader market.