Apple have shut a number of Stores Across the country. Microsoft shutting all of its Retail Stores today. Joining us break it down is Abigail Doolittle who has been following all of the action by a rough day for stocks. This virus is really starting to weigh on investors. What do you see . Abigail stocks are lower in the selling pressure never relented. We have stocks responding to data as it comes out with the big drop on the data from the u. S. The nasdaq and s p down. Confirming the risk off, the fact that haven bonds rallied once again. We will bring welcome to the picture. Investors want out of risk. This week, they are not tiptoeing, they are running out of these risk assets on fears , perhapsaps the virus this is the first wave. That it could hurt the u. S. Economy. Emily you have been talking about havens rising as stocks have been down. What would you point out . Abigail it feels as though this week is new in terms of this risk off. And wednesday, we had a big down day and a big down day today. It is lining up on the negative info with the virus. Week of june 12 is when we had the yen rallying, bonds rallying, stocks down any oil starting a downtrend. It from across asset class standpoint, this may make the case we could be moving toward a period of riskoff and we continue to see stocks and oil down next week while the havens are up, it could make the point that stocks will finally do something that they have done in every other bears period, which is test below. It happened in the 1930s another time periods as well. Are returningars to the u. S. Emily facebook shares planting as more and more advertisers pull out of the platform, and join us on going boycott, including unilever, procter gamble, initiating a comprehensive review of the platform that it advertises on par not a good day for facebook shares. Abigail to put the selloff into perspective, this is the worst day since march 16. Going back to that horrible bear Market Selling pressure back in march is the kind of selling pressure we saw in facebook, down 9. 5 . You know i like charts. Today, it is ugly. Going near record highs to plunging below its 50 day moving average. That is a fancy way of saying the floor fell out. Buyers disappeared and there are reasons to think the shares of facebook at continue to plunge on the fears that may be other big advertisers would pull away, if this could happen with facebook, it could set off a negative round with other bank stocks. This would be an additional pressure relative, in addition to the virus that could really be a negative for the markets. Next week will be an interesting one very it will be an interesting one. Emily all right. Abigail, thank you so much for that update. We will be watching a facebook shares continue to stay under pressure is more advertisers joined this boycott, which includes a boycott of instagram. Patagonia,erizon, just some of the companies the stop hate for pay program. The adl is a number of civil Rights Groups unhappy without facebook and moderating its contact and what they say is a long history of allowing posts that encourage voter suppression. Joining us is the ceo of the antidefamation league, jonathan greenback. Jonathan, thank you so much. Talk to us about what youre hearing from advertisers at this moment, as your campaign is picking up steam. Jonathan sure. Stop paper profit is a long time Advertising Campaign organized by adl, the naacp, color of change, and a bunch of other groups specifically to tackle the problem of hate Online Gaming we focused on facebook because they are the Largest Social Network in the world, and the biggest advertising platform on the planet. , our phoneshis call are been ringing off the hook with advertisers. Mentioned, verizon or verizon, unilever, north face, honda joined this afternoon, birch box join this afternoon, and i can tell you more are coming. Advertisers, who have seen their own ads published against hateful, horrible content on facebook, racist, antisemitic poison, they are finally saying enough. Think what is it that you facebook is doing wrong . What are the real there are a number of issues. What are the main issues in your mind . Jonathan for years, we and others have called on facebook to change, and they havent. They have really prioritized profits and reach over people and the safety of their users. There are several very specific things we want them to do. First, you want them to be accountable. They should be providing audits and refunds to advertisers whose tent was shown to be near that violated terms of service. They should be regulated. Very usefulng isnt when the author has a vested interest in what they are sharing. We want them to focus on the safety of their users. Remove public and private groups it private groups that focus on racism and violent conspiracies. When people are harassed on facebook, there should be a mechanism to give them the support that they need, like every other business does. But this is indeed about accountability. It is about transparency and it is about leadership. We want facebook to establish at a leadership level, a civilrights infrastructure that would evaluate their products and policies were discrimination, violence, and hate. It isnt too much for a company that earned 70 billion in revenue to invest a little people,making sure all regardless of how they pray or what they look like or where they are from, everyone should be fairly protected when they use the platform. Emily speaking of leadership, Mark Zuckerberg did hold a town hall today, talking about how they are responding. They are adding new features and theire directing users to center. They will talk about voting. They say they will prohibit ads that pit anyone of a certain race is dangerous and Mark Zuckerberg sounded fairly upbeat to their ability to address the controversy. Take a listen to part what he had to say. Mark i am optimistic we will deliver progress on these challenges. We will make progress on public health. We will make progress on racial justice, and i think we will do that while maintaining our democratic traditions around Free Expression and voting. Im committed to making sure that facebook is a force for good on this journey. Reaction,t is your jonathan, to that end the changes facebook is making . Jonathan look. Markert Mark Zuckerberg was part of the small number changes. To say the are going to apply their hate policy to the ads while not address hate more broadly. I just dont get it. I think mark doesnt really understand the problem. The problem is not verizon and salesforce are pushing hateful ads. The problem is that there ads are subsidizing hateful content. Be harder to spread that on the day of the election, that is good, but does any voter misinformation will run rampant the rest of the time . The idea that posts the call for violence will still be allowed if it is newsworthy, but none of it will be verified . I dont think it makes a dent in the problem. It tells me we still have a long way to go, but make no mistake, what you heard from Mark Prichard yesterday and what you have heard from eileen fisher, many honda, unilever, so Many Companies are saying, we dont want to advertise on a platform that undermines our values, and that is the real story here, until facebook will take meaningful steps and make real changes that reflect the shared values, not just of those brands, but i think of the general public in our society, i dont think we will be in the right place. You build a coalition around this and you got the naacp, color of change on board, along with various other groups representing underrepresented minorities. Why does this issue matter to so many different kinds of people, not just africanamericans, not just immigrants . Jonathan well, look, i mean this is an issue that affects all of us. We are living in a time where hate crimes have been indisputably on the rise. You can see the fbi data. We are living in a time where , taxax on people, latino on people who are jewish, tax on people who are these are all up. Last year, the adl tract more antisemitic incidents that we have seen in our 40 year history of doing that work. So, the reason why so many groups are concerned is because immigrants are indeed under siege, because our president cant seem to refer to the covid19 as anything other than the china virus or the chinese flew or even more offensive things when Asian Americans are being harassed in the streets by people. And again, the issues with george floyd really laid bare, watching him die on the street, laid bare and we have this public reckoning on issues of systemic racism, which have always been there, and yet at working with the companies, we are monitoring these issues, and we saw white nationalists literally organizing them on facebook, to disrupt those protests. We saw extremists coordinating their efforts to spread conspiracy theories and show up and try to undermine and disrupt these peaceful gatherings. Im sorry. I dont think any traditional media would allow that. I dont think any normal company would allow that. And it is long overdue for facebook to say, we will not allow that. Emily a social crisis in the midst of a held an economic crisis. Jonathan greenblatt, thank you so much for joining us. Up, the sun belt state another states across the south pulling back on the reopening of their economies as covid19 surges across the country. We will look at how children are being impacted. Bostonsave the ceo of childrens hospital, next. This is point guard. Cases of covid19 topping 9. 6 million around the world in the u. S. Without brakes learn up in texas, florida, and california. Texas and florida halted drinking at bars and as the pandemic worsens for some, it is Getting Better another states. New jersey has seen over 12,000 deaths and is in the midst of slowly opening up. Today, the governor said it will the governor announced school reopened in the fall, but children not fearing the worst of the infected, but there are other ways they are being impacted. Joining us as sandra fenwick, the ceo of boston childrens hospital, which is the number one Pediatric Hospital according to u. S. News world report. Thank you for joining us. Seriouslyrent as impacted by the virus from a health perspective. What have the cases of covid19 among children looked like to you . What have you been seeing at your hospital . Sandra we have seen a number of children come through, both with the virus would also with this , the multisystem inflammatory syndrome in children. We have seen 150 children with positive covid. Most of them have had a relatively mild form of the disease, and several of them have had more need for intensive care, but it has been mostly told with underlying disease. The more Sick Children are the ones with this new syndrome, and we have seen just over 30 of them in the last couple of weeks. That has been our experience, but we have been preparing for the same kinds of situations that even all of the adults have had to deal with as well. Emily so that counters the point some have tried to make the children are immune to this virus. How concerned should be be about our children out there . Sandra well, children have been testing positive. Many of them have tested positive and are not symptomatic. So the question is whether they are also transmitters of the disease, even though they are not showing symptoms . That is something we are still attempting to study and truly understand why this virus, unlike other flus have not necessarily have had the same degree of impact on children, and that is still a bit of a mystery, and therefore, a lot of research is going into that. [no audio] tested positive and over 70 hospitals. Because we have had few cases in each hospital, we are going to have to spread the entech of the end take of these patients we are going to have to spread the intake of these patients throughout our hospitals. They are going to be trying to understand all the questions. Why are children less impacted by the virus . Which children are more impacted . What is this new syndrome . Why is it showing up weeks after the child has been exposed to covid . What is the immune response that children have that perhaps adults do not have . Who is protected . What happens to a child when they have an underlying, either immune or other chronic disease . There are many, many, many questions that will be apart of this study. Got schoolsime, you closed, camps not happening. I imagine this is having a mental and emotional impact on children as well, even if they are not getting sacked. Of itu seeing cases kids mental and Emotional Health . Sandra you are right. Children have not been in their normal routines, whether in childcare care centers, in schools. They have been sociallydistanced. They had been impacted by stress in the home, where parents are either at home and trying to work, or they have lost jobs. , particularlydren in the innercity, who are hungry because many of them were getting their meals at school, and they are not getting them at school. There are parents who are parents were struggling to meet their red and we will see an increase in the amount of homelessness. All of these issues will have a Significant Impact on the childrens mental and behavioral health. This is another thing we need to begin to understand much more deeply to really study our children impacted more behaviorally and be if they have even Underlying Mental Health conditions, and if so, how do we prepare the child care centers, the schools, families, physicians to both recognize and how to handle it when the children start coming back into the settings . Emily so, as a parent, wondering if schools are going to reopen, and wondering if they do reopened, should i send my children, given there are health concerns, and the uncertainties transmit children will the virus, and all of these emotional issues around my child losing several months of their education. Do you think schools should reopen or not . Sandra absolutely. First and foremost, they need the social interaction. They need routine. They are hungry for wanting to be in those kinds of settings. Both for the learning. Some of them are really missing that. And for the play that occurs, the interactions, the potential sports, just the connections they are making. They missed their teachers. We have a Daycare Center at childrens, and we just opened this week, and they have been trying to do things remotely with Remote Learning and virtual learning, and it has been very difficult. How do you do playtime with a bunch of threeyearolds . How do you do will learning with children in Elementary School . So we believe it is very important to try to find a way to safely bring these children back. Clearly, we will have to figure out ways to think about protective personal equipment with masks and intense cleaning, socialdistancing, not allowing the kids that much touching interaction, but we believe opening those are going to be good for family life, for parents to be able to go back to work when they need to as well is the children. Resurgencegiven the of cases across the country, how concerned are you about that, and what is the hospital preparing for . ,andra we have learned a lot obviously, from this first round, more than we ever really wanted to, i think, but we know now how to test. We know how to treat. We have set up so many different ins of bringing our patients safely. How to keep our staff say. There are many things that will probably be in place now in some respects forever. If we can get through this round. The real concern is the flu season. We are going to double down and really encourage this is something i want to say over and over again we need to have everyone get their flu shots come this fall because the layering on of covid and flew will be really problematic. The flu in is far more dangerous than covid. I would just recommend that everyone think about this carefully, and in short youre still going to hospitals when we need to, getting preventive care, taking medication, and making sure that if symptoms increase, that people get health care. Emily point taken. Thank you so much, the ceo of boston childrens hospital, sandra fenwick. Thank you for joining us. I want to get to breaking news. Apple is being further scrutinized and a probe by the u. S. Department of justice. Mark joins us on the phone. What do we know . Mark so, what we know is that apple has been one of the main tech players under the u. S. Antitrust investigation by the department of justice for a year now. Haveow that App Developers been continuing to meet the Justice Department as of last week, at least two developers we spoke to met with the doj. Asking has been questions specifically about the apps store rules related to app subscriptions and purchases. We know that is one of their current focused areas and inquiry about apple is related to the apps store. We also now that the apple inquiry is in a much earlier stage than the google inquiry. Andnow that both the doj that App Developers have reached out to each other. It is not necessarily that the doj starting with the questions. Sometimes the App Developers are coming to them and sometimes it is vice versa. The majority of the resources from the Doj Antitrust Division are focused on google, and it is unclear if there will be a formal case brought against apple. They are still in the investigation stage. Emily ok. Mark gurman with that quick update. Thank you so much, mark. We will continue to follow that story, just out from our government. He is leading the largest black lead Venture Capital fund in the world. We will hear from the cofounder. This is bloomberg. Emily welcome back to bloomberg technology. Im emily chang. The Worlds Largest black lead Venture Capital fund just got bigger. Base10 partners says today it has raised 250 million in a second fund to fund startups and other initiatives aimed at diversifying predominantly white Tech Indu