To do here. I have always been reluctant to say this truly could be one of the most important things we as members of this committee do. The world is experiencing today and what the american and as is americas face is one of the most significant challenges that a lot of us will face in our lifetime. The bad news, the really bad news is that its entirely possible that it will happen again. I say this of course because the experts tell us that this virus that made the leap from one species to another can very easily happen again and if there are 2000 of these viruses out there you have no idea what they can do when they get into a human being. Thats what experts and scientists tell us have identified within their branch about 2000 different viruses. Having said that we need to look forward and i want to stress what im trying to do with this and what about all of us are trying to do, to look forward. There are a lot of hearings going on and a lot of hyperbowl going on and a lot of blame a
Markets pointing to lower opening. Major averages. Take a look. The nasdaq lower by 65, the s p lower lower by 34 after the markets rallied last week, the dow, nasdaq and s p 500 second straight week of gains with market up on the session as you can see about 2 higher on the dow industrials for week. Oil prices having a rough morning, take a look at this. Taking a steep dive as the coronavirus slams demand. Crude oil now at 13. 54 a barrel. Holding china responsible, questions are swirling this morning about the origins of the virus. Chinas lack of transparency. Congressman andy barr to investigate chinas handling of the pandemic. Mornings with maria begins now. Noble markets look like this. Germany taking a step with reopening the economy. Some stores. The white house is allowing some companies to delay payments of import tariffs if they can demonstrate significant financial hardship, tariffs on chinese goods are not included in the interruption of the white house tariff program. In a
Cramer, david faber coming to you live from separate locations this morning its risk off following those onemonth highs from yesterday empire and retail sales for march were abysmal the worst on record. Below Expectations Oil below 20 earnings from citi, goldman, bank of america showed the major banks are, as expected, bracing for a wave of defaults some more than others when you look at the percentage of the total loan book at jpm and city. Jpm is the one that people decided wasnt that great. When i look at it, i think it had to do with tone. Jpmorgan, the crucial lines were something that were uttered by jamie, which were, look, may is not realistic. It will be june, july. The problem with basing everything on that is that you dont realize these banks are much more much better prepared than we thought you have a citi thats down from its tangible book value, its actual youll have multiples that are incredibly low because people feel the dividends are in question yet you have a tremend
We continue welcoming them now. We may have to group some of them to get through as many as we can and we may edit for brevitys sake. As you send in questions, please submit only one per outlet. With that, president malpass, over to you. Thank you and good morning to everyone. Im happy to speak to all of you. You wish the circumstances were not as grim. I would start by saying i hope you and your families are healthy and coping in these challenging times. I want to express my deepest condolences to the millions of people around the world suffering from covid19 and who have lost a loved one to the pandemic. I just concluded a very productive virtual dialogue, low carbon, virtual dialogue with our Development Committee. I was joined by managing director of the i. M. F. And it was good to hear the views from shareholders on how the World Bank Group and i. M. F. Can Work Together to support our member countries, especially the poorest and most vulnerable. I was pleased earlier this week th
You wish the circumstances were not as grim. I would start by saying i hope you and your families are healthy and coping in these challenging times. I want to express my deepest condolences to the millions of healthy and coping in these people around the world suffering from covid19 and who have lost a loved one to the pandemic. I just concluded a very productive virtual dialogue, low carbon virtual dialogue with our Development Committee. I was joined by managing director of the i. M. F. And it was good to hear the views from shareholders on how the World Bank Group and i. M. F. Can Work Together to support our member countries, especially the poorest and most vulnerable. I was pleased earlier this week that the g20 took up our joint call to provide a suspension in debt service to bilateral creditors during the crisis. Chris and i worked hard on this and supported it and were happy to see it done. Its a powerful, fastacting initiative that can bring real benefits to the poor. In respo