Reports bloomberg has seen. Nonetheless we have a virus which continues to spread. In iran we have 19 deaths. The first case in latin america that,zil on top of greece, bahrain, and kuwait adding to numbers they have already. The Disease Control of the European Commission battening down the hatches as in italy we see the death toll mount and the number of cases multiply. In britain we have an isolation facility being set up at Londons Heathrow airport. This is in the backdrop of an overseas expansion. I mean outside of china. In china itself, the spread seems to be getting slower. Anomaly, 400is an one new cases in the last 24 401 ins opposed to the province. There are economic consequences. David lets talk about the economic consequences. We always want to remember this is a human tragedy, but it has economic and business consequences. They come in two different forms. Ies shutting down of factor and the effect on consumer confidence, the willingness to spend money. Rishaad we were talking yesterday about how you could cut Interest Rates by 25 basis points, but what difference would it make on families are so concerned about their loved ones health and do not want to go out on the streets. Every hong kong permanent resident will be getting 1284, helicopter money. It is a very serious problem. Resident will bevietnam halfingh projections for this year. They were looking at 10. 5 . Cathay pacific based in hong kong, 25,000 staff have been asked to pay have been asked to take an unpaid leave of three weeks. Parked on the side of the airport, which is over there. I want to end on something. How thealked about suppression of information made things worse. I want to go back to 102 years ago, to the spanish flu, which led to the death of about 50 million people. Im not saying this is anything on that scale. Part of that was blamed on wartime censorship so people cannot get information as to what was going on. They hope history does not repeat itself. David absolutely. I was not even around for the spanish flu. Great reporting in hong kong. Now lets go back to new york and drew armstrong to talk about what United States is doing or can be doing to deter the virus. We have the president addressing us at 6 00 this evening eastern time. Drew two key things to keep in mind. We only have about a dozen cases that have been diagnosed in the United States. Most of those are travelers from china and the flow of travel from china has been great read reduced have been greatly reduced. On the other hand you have cdc officials warning we are going to see more cases and we need to situationsd to see like we have beginning to emerge in europe in the United States. Giving very dire sounding outlooks about what that would look like in the u. S. In terms of the response. There are two sets of ideas people need to be able to combine. If you look at how this is beginning to slowly spread around the world or at least emerge around the world, that probably does happen in the United States. David are we confident we know the way it is transmitted . That seems to be a key element in figuring out how to stop it. Drew from what we know, it is like any other respiratory disease, and the steps you would take to not get the flu or a cold if you live in new york city are exactly the same ones you would take to not get the coronavirus. Wash your hands, use hand sanitizer, covering your mouth when you cough. Not holding onto a subway pole and rubbing uri. All of the things we hopefully and rubbing your eye. All of the things we hopefully practice in flu season. David thanks to drew armstrong. We will bring you President Trumps News Conference at 6 00 this evening. At what iset a look going on the markets. We have an uptick today. Abigial we had an uptick but a Bearish Development over the last 10 to 15 minutes. At the highs, the s p at what is going on the markets. 500 had been up 1. 7 . Now the s p 500 is up just. 5 . Even when each of the major indices was up more than 1 , there were cracks in todays rebound rally. Oil was lower, bonds were higher. At this point, the dow transports down 1 . It seems like the bulls wanted to buy into the by the depth mentality buy the dip mentality not working. The coronavirus fear is back into the picture. The dow transports sliced below the 200 Day Moving Average in the past. Without exception that means the s p 500 will go down to at least its 200 Day Moving Average. David as you follow these keying off it just of whatever we get good bad or indifferent about the coronavirus . At 6 00 this evening, will the markets be looking toward what President Trump has to say with his cdc officials . Abigial the futures market will be open it so be possible to track the live reaction to what President Trump does say. At this point, in terms of the markets themselves, there is so much technical buying and selling. These key Technical Levels and moving averages traders and investors want to Pay Attention to algorithm seem to be programmed into the 200 Day Moving Averages on a number of different entities. Even in europe, the stoxx 600 went below its 200 Day Moving Averages. All of this does suggest we have a commodity complex on the year down 9 , the s p 500 down 2 . When you have a divergence of that sort among risk assets it tends to suggest a disagreement, more volatility ahead. We had been in that period last year of the melt up of small moves. Now were into a period of the moves and they seem to be more toward the downside. David very helpful. Thank you to Abigail Doolittle for that report on the markets. Our crumpton is here with bloomberg first word news. Mark crumpton is here with first word news. Mark the coronavirus continues to spread. Brazil has confirmed its first case. A 61yearold brazilian who recently traveled to italy tested positive for the illness while dozens have been tested from mexico to brazil with similar symptoms. This marks the first confirmed case in latin america. President trump will hold a News Conference at 6 00 p. M. New york time to discuss the outbreak. You can watch it on Bloomberg Television. Hong kong is trying to push in the economic blow from the coronavirus and political unrest. The government unveiled a budget packed with giveaways. One of them is a onetime cash payment of almost 1300 for every adult permanent resident. Economists are forecasting hong kongs economy will shrink for a second year in a row. Turkey is signaling it may try to challenge russian control of syrian airspace. The turkish president said he is looking for ways to strike attacking Syrian Government forces from their own skies. Turkey has raised about 10,000 lib in its biggest move to counter the Syrian Government offensive. In the u. K. , Jeremy Corbyn accused Boris Johnson of being a parttime prime minister. Johnson failed to visit flood strip and parts of the u. K. Last week and instead stated government owned country mansion. It was also criticized by members of his own conservative party. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Crumpton. This is bloomberg. David . David coming up, palmetto state firewall. Joe biden picks up a key endorsement in South Carolina. Will it be enough . We had to charleston, next. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. The Democratic Candidates ripped into each other ahead of the democratic primary saturday in South Carolina. Most of the attacks were aimed at Bernie Sanders. Not only is this a way to get donald trump reelected, we have a house story about, we have a senate to worry about. I like bernie. We came in together in the senate. I do not think this person is the best to lead the ticket. I did the work and bernies team trashed me for it. Bernies team has not passed much of anything. Donald trump thinks it would be better if he is president. I do not think so. Vladimir putin thinks donald trump should be president and that is why russia is helping you get elected. For more on the big takeaways, lets go to charleston, South Carolina, where Kevin Cirilli is standing by. Give us your take on that debate. Biden, they are hoping this will be a launchpad into the South Carolina primary this weekend, where he is still leading the pack amongst democratic president ial candidates. They are then hoping that momentum will fuel them into super tuesday one week from today. Talking with several the top advisors to the Biden Campaign they feel confident at his performance last night. Beyond that, Bernie Sanders also saying that if he is not able to get the 1991 delegates needed to clinch the nomination, that he would get a plurality of those delegates and that will allow him to say he is the democratic nominee. From there, the whispers and the chatter in the center is that expect people to drop out sometime after super tuesday next week. That would mean that the next round of contests, this field will be very much more narrow and the contrast will grow sharper. David thanks very much to Kevin Cirilli, who has done a terrific job in South Carolina covering that debate. For their analysis, we welcome Bloomberg Contributor jeanne zaino in new york and in washington, lanhee chen, a fellow at the hoover institution. What will make a difference in this primary . Let me start with one thing. We had congressman clyburn endorsing Vice President biden. This is what he had to say. Ive known him for a long decided i had not whether to share my vote with the public. I want the public to know that im voting for joe biden. I know joe. We know joe. Us. Importantly, joe knows we know jim clyburn has been a very influential democratic figure in South Carolina. Do endorsements mean this year what they have meant in past years . Jeanne he is so wellrespected and has such a big voice in the state, yet we have seen these typical endorsements from more establishment figures like clyburn, who has a powerful position in the house close to nancy pelosi, may not carry the weight they used to, particularly with voters supporting Bernie Sanders and particularly with young people. For joe biden this is an important moment, and it should matter that i do not know if we will see that. In nevada, the lack of an endorsement by the Culinary Union did not do much. Members still went out and supported Bernie Sanders despite their clinics is a their criticism. David what is going to make a difference . Maybe endorsements . Maybe not endorsements. There were issues mentioned along the way but that did not seem to be a debate about issues. Lanhee it was not a debate about issues. I think this contrast on medicare for all Elizabeth Warren and Bernie Sanders have embraced, and the more moderate options proposed by Pete Buttigieg and joe biden, i think that dividing line will be important as we move ahead in this campaign. I think what is coming down to, what democratic voters are looking at as far as i can tell is who has the fire in the belly to go against donald trump. Who will be a candidate who can present and prosecute a case against trump. Not so much the substance of that case, but who has the wherewithal to take him on. That is why you saw joe biden get more aggressive last night. I thought it was his best debate of the season so far. It is going to be those personality elements, those elements of the style with which these candidates take on donald trump that will be more significant in this campaign. David i find that fascinating and it goes to the electability we talked about before. Is it turning into who can be as trump as trump is . Explosive . D Elizabeth Warren was combative. Jeanne she was combative. Pete buttigieg is a good debater. I agree that joe biden had his best performance. It is the one thing that unifies all democrats, who can be donald trump. It is striking that last night just like in the debate in nevada, very little was taken to donald trump. They were fighting each other in a circular firing squad, yet very little fire on donald trump. In my mind and the mind of other people, donald trump came out a winner. Democrats will have to take it to donald trump. Maybe they will do that after super tuesday when the field winnows. This will get very tight with donald trump very quick if they do not winnow the field fast and look at donald trump and start to take him on. David did donald trump when the debate last night . Lanhee any time democrats are focusing their fire on one another and not him i think it is a benefit. The reason why the trump team has to be feeling good about where they are positioned is because of Bernie Sanderss continued success. You have the leading candidate for the Democratic Party who has repressiveba at the history of the cuban regime. That does not even seem to trigger a response amongst the electric. I guess we will amongst the electorate. It has not seemingly been a factor. I think for the trump team they are looking at this gleefully. They liked the fact candidates are attacking one another. Having been involved in a number of these competitive primaries, i can say it is not necessarily a bad thing when candidates are trying to make each other better. There is not a bad thing in candidates attacking each other. You see what happens in uncompetitive situations, people come out unprepared. There is a Silver Lining to the yelling we saw last night goi. David people do not typically elect president s on foreign affairs. It is domestic issues. It is not just that Bernie Sanders was saying there are good things about castro in russia, but he also took on the United States and said we have had terrible Foreign Policy in respect to overflowing overthrowing the shaw of iran and guatemala in the 1950s. Will that work on the democratic side . Jeanne i do not think it will work in the swing states democrats need to win the election. It will not be a selling point to have Bernie Sanders in florida talking about the benefits of reading and literacy in cuba under fidel castro without at the very least taking on the people aspects of that regime, of which there are many. I think this is a problem for democrats. I agree that Foreign Policy seldom elect president s unless we are in a crisis time, but this is broader than a Foreign Policy issue. This is who Bernie Sanders is and has been. As the American Public gets more and more introduced, i think it will be hard to sell in places like virginia, South Carolina, florida, pennsylvania, and elsewhere. Panel ofank you to our jeanne zaino and lanhee chen in washington. Dont forget to tune into our special coverage on super tuesday. Will have the allows us the analysis of the democratic contest march 3 at; at 7 00 eastern time. His firstew ceo and challenge may be the coronavirus. That is our stock of the hour. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. I am david westin. Time for the stock of the hour. Disney shares are in the red after the Company Named bob quebec as the new Ceo Bob Chapek as the new ceo. Down onend to double the exact same strategy bob has established 15 years ago that has served us so well. The thing i have taken away from bob igers legacy is get the content right and everything will follow suit. We welcome Abigail Doolittle for what the move may mean for shareholders of the walt disney company. They are down right now. Abigial what is interesting about what he was just saying is he is planning on doubling down on bob igers strategy. Everyone knew he would step down as ceo but a lot of people were caught upside by the fact that it was so seven. The last quarter relative to streaming was very good. Streaming just happened. That is one reason why the stock is down. The second is why bob chapek. Many thought the head of streaming would get it. You can make the case and you would know more about me, that bob chapek will be just the seventh ceo at disney. Loyalty is clearly a big deal. That could be a big piece. He started off with dvds back in the day and