Correction territory, the dow has to be down at least 361 points. We are down 766. The nasdaq has to be down 145. We are already down on the nasdaq at this moment by significant 276. And the s p has to lose a minimum of 68 points. S p right now down 87. Goldman sachs now believes that American Companies will see zero Earnings Growth this year if the coronavirus becomes more widespread than it already is. Backing up goldmans call, a slew of companies revealing new warnings about how the deadly outbreak could hurt their businesses. Countdown bringing out all the big guns for this final hour of trade. The head of the Worlds Largest derivatives and futures Trading Platform is here. Cme Group Chairman and ceo terry duffy on managing risk and how he plans to keep his exchanges running if coronavirus balloons in chicago. And Guggenheim Partners cofounder and global cio scott minerd here live. The best places to hide your money if the virus gains the power to trigger an earnings or Even Economic recession. Plus, one of the stars of netflixs documentary series pandemic is here. Hes in charge of preparing all of new york citys hospitals for a possible pandemic. We will ask her how prepared this city is. Q. Forget correction. With 28 of the s p stocks in bear market territory, is bitcoin really the only safe haven in this final hour of trade . Apple ceo tim cook just spoke to fox business on the epidemics effects right now on his china operation. We are 48 58 minutes before the closing bell rings. Lets start the claman countdown. Liz let me get you more on the fda breaking News Headlines because they are rolling in fast and furiously. The fda seeing no coronavirus related shortages yet but it is continuing to closely monitor that supply chain. That includes everything from medical products, drugs, medical devices and also biologics. We are watching anything else that comes through on the fda but pfizer, lets keep with this theme, is the latest company to warn about the Coronavirus Impact to its bottom line. Moments ago, the pharma giant said a continued spread could adversely impact operations and the Financial Results of the company, including manufacturing. The stock is down just about. 33 but the supply chain and Clinical Trial operations are also at risk of being affected. Thats from its latest s. E. C. Filings. Let me get it to the broader picture. Coronavirus is driving stocks not just down, but pretty much in all directions, good, bad, ugly. Lets get to the good. Look at teledoc health. This is hitting a record high after at least 12 brokerages raised their price targets on the company. What they basically do is offer teleconference Health Services meaning everything from via mobile devices and internet where you can speak to doctors or experts. Analysts predict the company will see a boom from coronavirus cases as people stay at home but still want to dial in to consult doctors. That stock is up 17. 6 . Nice move there. Speaking of teleconferences, facebook has canceled its annual developer conference in may in california due to the coronavirus fears. It will instead swap out with video and livestreaming content of what would have been that conference. Facebook is down 2. 7 . Tesla getting slammed. This is the ugly one, for a fourth straight session after data show the virus may have impacted teslas vehicle registrations in china, which have dropped 46 in the month of january, and thats just month over month from december. The stock is down 12 right now. It stands at 684 and change. Well below a key level of 733, the exact point that would put the electric vehicle giant squarely in bear market. So its there right now. Finally, just plain painful. American airlines hitting a 52week low at this hour, down about 4 at the moment, as analysts downgrade the sector on the hit to travel demand because of the coronavirus, plus there are reports that the pilots Union RepresentingAmerican Airlines may halt travel to south korea after filing suit to stop flying to china. They kind of filed suit against flying to china pretty successfully so we are watching that. At the moment, American Airlines stock at 21. 44. Again, we want to stress, theres always another side to this. You could look at that as a buying opportunity. The other day, delta was down about 6 . Its just hard to tell where the bottom is. In the meantime, companies from every sector of the market are flashing warning signs on just how much an impact the Coronavirus Crisis will have on their businesses this year. Beer giant Anheuser Busch hitting the lowest level since january of 2012. Bud down 8 , warning the impact from the outbreak continues to evolve at about 285 million in revenue has already been lost in china during the first two months of 2020. They are just not in the mood to drink beer at the moment. Footwear maker crocs seeing its worst one day percentage loss in years, down 15 at the moment after reporting the 2020 revenues will be negatively impacted by 40 million, actually could be as bad as 60 million due to disruptions to its asia businesses. Even after paypal made it very clear the deadly virus is triggering a slowdown in ecommerce activity, crossborder, then even warning the First Quarter 2020 revenue will come in lower than expected, look at the stock. It reversed earlier losses and is now about. 75 higher to 109. 98. Hard to really tell how investors are absorbing some of the news here, even bad news, but for best buy, investors in the Consumer Electronics retailer, they are not behaving the same way as they did with paypal. Best buy beat on earnings expectations but the stock is down 2. 6 right now, after the ceo said the company is monitoring the coronavirus and expects most of the impact to be in the first half of the year. But see, nobody knows whats happening in the second half of the year, so investors dont want to wait around for that. Lets get to marriott international. They predicted the coronavirus, remember i told you they were coming out with earnings after the bell yesterday . They did, and they predicted the pathogen will cause a 25 million hit to monthly fee revenues. Shares of the hotel chain, though, are up about 1. 5 . Why . Well, they did top Fourth Quarter earnings estimates. So investors decide to focus on that. But theres a much bigger name that tripped up the bulls and those would have been brave bulls at the open. Deirdre bolton, live on the floor of the New York Stock Exchange, lets talk about microsoft. Deirdre of course. This is one of the reasons why the dow is falling as much as it is. If you look right now on the screens, you will see close to 750 points, we are closer to the lows of the day which are around 900 points down, versus the highs. Microsoft weighing on the average, helping to make this one of the worst weeks for this average since 2008. Two key reasons for microsoft. It is, in fact, withdrawing from a Game Developers conference that was supposed to be held march 16 through 18 in San Francisco. The company put out a statement saying in an abundance of caution they are canceling that event. You referenced the one for facebook. A lot of these Tech Companies are doing the same. I want to mention epic games, which people know from fortnite. Fortnite battle royale, some other games. Doing the same thing, the game developing conference in San Francisco canceled as well. Microsoft also, though, i would be remiss if i didnt mention, saying it is going to miss sales targets for this Current Quarter because of this coronavirus, the effects of it and as we know, microsoft gets more than 10 of its revenue from china, it backs up what we have heard from other tech giants. Apple, for example, last week saying it would in fact miss sales targets for this Current Quarter as well. Apple as we know getting 17 of its revenue from china. But as we see in north america, all of these events being closed, we begin to feel the effects of people being afraid to mix and mingle. Back to you. Liz im betting that the traders on the floor at the New York Stock Exchange are going to listen to my next interview, because it really does impact and is about to reveal the flows of where people are moving their money right now. It is not just stocks that are reacting rather violently to the spread of the potentially deadly coronavirus. Still sending shock waves through the oil markets in this hour. Now, since oils close last friday, it is down 12 so far this week. You could qualify that as a collapse but take a look at gasoline and its year over year performance. The wholesale product that trades is right now down at 1. 51 and we can see over the year, it is definitely lower. To the man who leads the company that handles massive trading moves in oil, metals, commodities futures along with volatility, hes here in a fox business exclusive. Cme chairman and ceo terry duffy. Terry, good to see you. As the largest futures and derivatives Trading Platform in the world, the cme and its Trading Volume for our viewers really gives us a window. Where are you soggy the beeing t number of trades . Thank you for having me. You are absolutely correct. We are seeing massive flows to all the major product lines here at cme, but for starters, you are seeing the obvious ones which is in the equity markets. Its up about 127 just off of last weeks flows so we are seeing tremendous flows through our Equity Division and our fixed income is up about the same percentages. You referenced something which is oil, which i find very interesting. The flows in that is not as dramatic as the other two i just referenced but when you look at the price of oil, especially west texas intermediate which we trade here at cme, at roughly 46, 47 a barrel, down to percentages you referenced just a moment ago, then you look at some of the stocks such as chevron, exxonmobil that are part of the dow 30, thats having a big weight on these stocks. So this cheap oil, you know, one might think it would be good at the pumps but actually, it hurts your 401 k dramatically because these are all part of indexes in not only the dow but other parts of portfolios. Thats what we are seeing a lot of. Liz i do have to ask about oil because as we look at whats happening, i can only imagine there all kinds of derivative plays people are watching. What has surprised you with your decades of experience on that very floor . You began as a trader. The most that you sort of feel and maybe you have seen this before, but this feels very different, does it not . Well, it feels different because it is, liz. We are seeing the market come off of extremely high values and extremely low Interest Rates, and we have never seen anything like the coronavirus under its current form today, so corona has been around for a long time, but we have not seen this particular strain yet. So when people try to compare it to the flu, its a little troubling because yes, people die from influenza every year and its catastrophic but to say that the coronavirus, people, theres a small amount compared to the flu is acceptable is beyond me. How you call this a blip or bump in the road its also beyond me. These are human lives we are talking about. These are things i have never seen in my 39year career at cme when you have Something Like this, that is having the impact on the supply chain that you referenced in your opening. I think you answered your own question. The supply chains are being disrupted, all the companies you referenced are very much impacted which is going to have an impact on the economy and it has an impact on everything we do here at cme and the products we use for risk management. This is something new to a lot of us. Liz treasury yields. We have seen them plummeting. I think when you look at the tenyear and you start to see that between the tenyear and the threemonth, we are seeing that socalled inversion of the yield curve which gives us a sense that maybe there might be a recession. Im not going to ask you to predict whether we see a recession because weve gotten some good data. Today alone, i want to let our viewers know, durable goods came in rather decently for the Fourth Quarter and gdp was right there as they expected, 2. 1 . Tell me what you are seeing in the treasury markets and then i want to talk about fed funds futures. We are seeing a tremendous amount of activity in the treasury markets, to your point. We havent seen the tenyear yield go below 1. 32 and that is really, i think, a point where people are watching. Maybe its already penetrated that area since i have been wired up for your show here. But again, these are flows that we are seeing that you normally would never see because of the inversion of the yield curve. Again, the question is where are we going to go. Fed policy, yes, they can add to their Balance Sheet, they can do certain things. But we are basically almost at zero today. To say that the feds the bailout, im not sure is the answer either. Liz you know, im surprised to see gold, gold is behaving rather strangely. It had a very nice move to the upside. Gold at the moment is down just fractionally by about two bucks, but heres the fed funds futures on the screen. Theres a 58 chance of a rate cut in march. That number was 30 i believe for july and now its 79 for july. Now we are looking at a shorter window here. What kind of trades are you seeing over at the cme when it comes to fed funds futures . We are seeing a lot of activity. You just referenced it because of those percentages, you know, we were much lower a week or so ago. As of yesterday they were a 50 probability through the next three meetings about fed cutting. So now they are up, you are referencing 70 plus and at the next meeting, which wouldnt surprise anybody to have a cut. But again, like i said earlier, we dont have a lot of room to the downside for the fed to protect the market on rate cuts. They will either have to add to the Balance Sheet or do more stimulus into the economy. Liz i will ask you, i will ask scott minerd in a few minutes, do you predict an intrameeting cut, meaning before the next meeting, do you so the fed swooping in saying lets just cut to prop up what is, what you could call a multi thousand point slide over the past six days . I dont think that would be prudent for the fed to do that. I think the fed has a policy they are going to follow. I think we have activities of the virus which you referenced earlier which is potentially a part of the downside of this market. I referenced high valuations earlier which could be accelerating this. You could talk about passive money being managed today versus active. Theres a whole host of factors going into it. For the fed to go away from their policy to do a cut prior to the next meeting, i dont know how prudent that would be. I would be very surprised to see that. I hope they wouldnt do that. Listen, we are still at extremely high levels in the equity markets. Possibly have done ve people have done very, very well. I dont think we should get carried away and i dont think the fed should do that just off the coronavirus. We are trying to stimulate the economy, lets do it to make people healthy. Lets not stimulate them to make markets go up. Liz got you. Terry, thank you very much. Good to see you. I appreciate you talking about health and your traders. Everybody is going to stay open, you got sanitation and clorox wipes . We do. We got a lot of contingency plans put in place for the markets to continue to operate here in chicago. We are very well prepared. We wish everybody well. If you dont mind, i would like to give a shoutout to my little sister, who is in a little bit of a battle right now. I want to wish her encouragement as well. Liz we wish her the best. Whats her name . Barbara. Liz barbara, we are pulling for you here at fox business. Thanks, terry. Good to see you. Let us talk quickly about the dow. Its down 702 points. Guess what, the one green spot on the screen is mask maker, face mask maker Minnesota Mining and manufacturing, 3m taking the lead on the dow at this hour. Its the only name punching up in the green by 3. 56. Shares have been upgraded of the largest supplier of n95 respirator masks to buy as coronavirus fears to a buy, rather, as fears of the pathogen propel demand for protective gear. There is demand for more information, and that is probably why the Netflix Documentary pandemic went viral. Its stoking the demand for face masks. Watch a clip of this. The next pandemic is going to start, we just dont know where or how. But we know it will. Liz that doctor in the documentary is the senior director for the Systemwide Special Pathogens Program of new York City Health and hospitals. Hundreds of people in new york city and surrounding counties are currently under voluntary quarantine. Still nobody has tested positive in the entire state but we thought lets bring in the doctor to find out how prepared new york city is for coronavirus outbreak. To be clear, you have quite a mandate, doctor. You are in charge of making sure that the entire Hospital System here in the state is ready. Are we . So i oversee new York City Health and hospitals. Are we ready . We certainly are ready. When it comes to Health Care Systems, United States has one of the strongest Health Care Systems in t