Warns america to prepare for a painful time as new york surpasses chinas Hubei Province in reported cases, the deadliest day so far. Japan proposes its biggest ever stimulus package as the virus threatens a deep recession. The Business Survey this hour will gauge some of the damage. Haiti. Haidi haidi. Haidi lets take a look at how we are setting up in australia. Trickling online in the staggered open, seeing early signs of positivity when it comes to this market after ending the session lower yesterday. We are seeing upside of about. 7 at the moment as we are awaiting the rba march 18 Meeting Minutes later today. We are trying to get past the worst quarter ever, so downside of 25 for australian stocks over the last three months today is a new day and new zealand, we are seeing gains for a Third Straight session as the rbnz is doubling down in the bond purchase program. Japanese shares looking a little bit lower. They had the worst quarter since 2008 and the kospi also trending lower a
About 800 points on the dow. Youre still looking at a loss of greater than 5 a huge story today the crude oil crush as the saudis initiate a price war. We should think about it in terms of the speed and velocity of decline the s p the is down about 17 . We hear about the news with are the russians and saudi arabia. The problem i have is you have a very healthy patient being the market now it appears to be in intensive care we dont seem to have any doctors around to treat them in intense iive care negative rates are present in the uk, first time ever. We are battling here in the United States with the potential for negative rates the missing link in all of this which is what we saw in 2008 was a global coordinated effort. There does not seem to be a globally coordinating effort to address that i think thats what the market is riding against. Liz young, what do you see . Lets start with the globally coordinated effort i think theres been an effort from Central Banks thats been reasonably
Just a few minutes ago we hit another record low. The nasdaq of course is obviously under stress as well, down triple digits. Then of course, the Dow Jones Industrials completely lower by 1,862 points, although i would point out the low of the session is a loss of 2,096. Let me take you back to four minutes after the open. Stocks fell so aggressively that the First Circuit breaker as its called, the level, level 1, to halt trading kicked in and that exact trigger would be the s p 500 hitting level 1, a loss of about 7 at that time. Now, after 15 minutes, this is what the dow was doing earlier on the new york Stock Exchange, after 15 minutes of the halt, stocks then reopened and thats when the dow promptly fell 2,046 points. At its low, 9 50 a. M. Eastern time exactly, coming within 200 points of a bear market level. In the last 15 minutes, the dow hit another new intraday low so we can change that 2,158, 2,158. Lets talk about oils response to this deadly Coronavirus Impact on the glob
This is a boom bust the one business show you cant afford to miss unbends one and im 50 im liking 10 coming back on my end doesnt seem to be going anywhere and that is creating a new set of fears on waffles and around the world. The last few weeks have demonstrated just how quickly a new vine is going to spread around the word cozy why does it do you and disruption well how the latest plan doesnt have a measure of the mathematically a long time and money trying to make it like economic growth. Is rising prospers an independent nation is an example to every day should all over the world and one of the most outstanding achievements of our century. And the u. S. Is asking france for a safe haven for u. S. Companies in order to help them avoid a European Digital tax so what is that about and isnt the digital tax for u. S. Companies going to have a live report so much to get to on this very busy day so lets get started and we begin with the coronavirus which is sending shock waves once agai
In italy iran and in south korea here are the latest numbers on the virus as of monday there have been 409. 00 new cases of the virus and 150. 00 new deaths that brings the total to 77150. 00 confirmed cases in china with the death toll of 2592 in terms of china in the majority of the new cases 398 were in the who by province and that includes all but one death its also important to know that many thousands of people have already recovered from the corona virus which again mostly places at risk the elderly and the very young as is common with these kinds of things among those countries though that we were just talking about italy is now looking to take more drastic steps after a 6 person has died there italian authorities on monday get this they shut down schools universities and museums across the countrys north they also banned public and private gatherings including soccer matches and cultural events in venice ended its annual carnival early and Catholic Church leaders. Announce the