Now, latest numbers. The house is preparing to vote on multiple dollar package. What you need to know coming up. The nba suspending season, suspending season until further notice. March madness to be played without fans. Selloff extending across the globe. European markets deep in the red followed by travel announcement by President Trump. 1. 7 . Cac quarante down 258 and dax in germany lower by 588. Almost 6 . Italy tightening lockdown even further allowing Grocery Stores and pharmacies to stay open. The European Central bank out with latest Rate Decision this morning. We will have that for you as soon as it hits the tape. Investors are looking for news of stimulus to battle the Economic Impact of coronavirus. In asia red across the board. The shanghai composite down 1 and a half percent but japan worst performer down 4 and a half percent. Lets check Interest Rates right now. We are talking about a decline of 15 and a half basis points on the 10year yield now sitting at. 718 . This, the Oil Price War between saudis and russians raging on this morning. Oil down 5 and a quarter percent. Crude oil now sitting at 31. 74 a barrel. World Health Organization declared a pandemic escalating fears across the world. The president made a nationwide announcement from the oval office, listen. To keep new cases cases from entering our shores we will be suspending all travel from europe to the United States for the next 30 days. Each of us has a role to play if defeating this virus. Wash your hands, clean often used surfaces, cover your face and mouth if you sneeze and cough and most of all if you are sick or not feeling well, stay home. No nation is more prepared or more resilient than the United States. We are all in this together. We must put politics aside, stop the partisanship and unify together as one nation and one family. Maria the Trump Administration went onto say that it does not apply to u. S. Citizens. Markets extending the losses on the news. Futures indicating another sharp decline right at the opening of trading this morning with the dow industrials down 1,175 points right now. S p currently lower by 126. This on top of the plunge yesterday. Dow was down better than 14 points yesterday ending in 1146 year run in bull market as we have been telling you, increasingly expectations are for a recession at hand. Joining the conversation this morning Ramsey Solutions expert everyday millionaires, chris hogan, we need advice on that. Dagen mcdowell is here as always, wall street journal assistant Editorial Page Editor James Freeman. Serious day, pandemic as well as massive selloff. I want to talk about Editorial Board with virus and leadership. James, the Editorial Board writes this morning, disasters and crisis can make or break presidencies not from the event itself but how the public judges a president s response. Mr. Trump did seem to recognize that the threat to the Public Health is a chance to rise above narrow partisanship and speak for the whole country. His main opponent for reelection isnt joe biden, is coronavirus, james. James it is a challenge. I thought he had a good speech last night. This is the largest not just Public Health event economic event but political event of this year. You are seeing overnight in the markets and the dow futures the cost of this european travel restriction. We are seeing that everywhere. Thats something that we need to keep in mind. We know that being broken, unemployed is not healthy either. For all of these efforts to fight this virus we do need to keep in mind that they have costs and youre seeing it in the restaurant industry. Youre seeing it with these leads thinking about getting rid of their seasons. I think speaking for a lot of new yorkers we see in the next few weeks but a lot of people who work at stadiums and work in the industry, you see the restaurant, hospitality and this does have a cost. Dagen that speech last night was not what the American People needed to hear, that the white house and the president himself had to correct certain things that he said on Live Television to the American People after the fact. This is basic accuracy which we did not get last night. During the speech the president said this ban will not only apply to the tremendous amount of trade in cargo but various other things. They had to correct that. Its not applying to trade and cargo. 30day ban and travel from most of europe to the United States excludes u. S. Citizens and permanent residents. The department of Homeland Security had to correct that after the fact. And the u. S. Health Insurance Industry had to come out and say, wait a minute, the waivers that the president are talking about apply to testing not treatment and that was a word he used. We need today hear more about the availability of tests, social distancing, what the American People need to do and what the government is doing right now to make up for mistakes that you were very early on covering, the lack of testing and the cdc6 weeks behind on testing, they needed to address that last night and they didnt. Maria the crisis, i would say its a crisis, we rely so much on the active ingredients in our prescription drugs from china. We need a plan to get out of this reliance on china and i dont know but the markets so far they havent really reacted to how reliant we are on china. The connections with china are so deep and people are starting to understand that and i want to point out an article that i saw this morning whereas being warned not the squeeze hauwei and this is a chinese economist saying that the u. S. Move to restrict normal sales of u. S. Products to hauwei could backfire as china can ban the export of face mask and gears to america which are in acute shortage due to rapid spread of coronavirus, this from chinese economist. Talking about the possibility of China Holding back on the things that we need so much, chris . With the trade war, look at this. An opportunity for them to come back and take shot shot. I like the tone. I like the fact that we are not being bipartisan. This is about people. This is not about politics. So i think the tone was on point, but the details do need to be more accurate. Maria plan in place to ban travel does not include the uk. Why . Whats the justification . James i believe theyve not had the virus problems that youve seen in other countries like europe. I think he made a good point about staying home that youre sick. This also applies if you think you have coronavirus do not go to an emergency room, call your doctor, if you dont have a doctor, call your local hospital, call local health official. Maria exactly what i said yesterday. Stay out of the hospitals unless you desperately need it because that is where the sickness is. Dagen he did go into some points about Small Business paying sick leave. This is what the federal government will do in terms of fiscal stability for the nation and those businesses and individuals hurt by this. We can go through that later. There was something in there but again accuracy should be job one. Maria lets take a short break. When we come back coronavirus hit hollywood. Tom hanks and rita. The spread of coronavirus continues to impact markets and the economy. Dow industrials down 1,160 points right now. 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Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria welcome back, coronavirus ripping the nation and the world. Washington state senator maria campwellbeing force today close dc office for the rest of the week, one of her staffers tested positive for the virus but has had no known contact with the senator or other lawmakers. Cantwell asking employees to get tested. Utah player testing positive, rudy goldberg. Nba discussing leagues next steps. The mavericks owner saying he was taken by surprise adding his initial reaction was this cannot be true. Here in new york city the annual st. Patricks day parade is being postponed for the first time in 258year history. I may not happen at all this year. Tom hanks revealing on social media that he and wife rita wilson have both tested positive for the virus, the two currently in australia shooting a movie. Two u. S. Service members dead this morning after rocket ambush in iraq, 18 hit camp taji, pardon. Bases located north of baghdad and used in training facility. Harvey weinstein learns his fate, movie mogul sentenced to 23 years in prison. Facing up to 29 years behind bars, weinstein has maintained all relationships were consensual. Markets this morning pointing to another sharp selloff at the start of trading, s p 500, nasdaq on track join dow industrials that fall in bear market. President trump met with executives yesterday, they say what we are seeing now is very different from the financial crisis of 2018, watch. This is not a financial crisis and the banks and the Financial System are in sound shape and we are here to help. I think second is when we look at whats going on in many ways we are going several challenges at the same time. We woke up or we went through sunday and drop in oil prices an we need today deal when the market opened on monday, clearly corona is front of mine for everybody not just here in the u. S. And the market going through a period of trying to get price discovery. The Financial System in the u. S. Is in great shape and prepared to handle, you know, this problem. I think that one of the issues is that, you know, people tested more and more, theyll be better handle on on what we are dealing with just because, you know, some economic effect obviously if this goes on and we all hope that its short. Maria yes, my next guest agrees with the slowdown but says that the u. S. Could be plunge intoed a recession. Sky Bridge Capital co and cio troy. Good morning, maria. Maria do you think we are headed to a recession . I think its very likely that in the shortterm we will have acute contraction, somewhere between 1 and 2 perhaps starting in late march, you know, through april, may and hope is that once we get in summer months if humidity and heat do actually contain the virus or stop its spread, Economic Activity can get back to a more normalized rate. Whats very unclear is how fast we could recover from this and thats going to really depend upon how well we contain it, you know, how soon theres a virus, out soon theres other antivirus medications that can treat it. No one really knows that right now. Given retail, et cetera, et cetera that we will have acute contraction. Unfortunately. Maria dagen, its about clarity. They dont know how severe it would, how severe Economic Impact would be. Once we get clarity maybe the selling, maybe it stops at significant pace but we dont know. Maria the clarity at least in the short run bailouts if the industries and whatever you want to call it, however you want to call it, whatever you want to say Financial Assistance or low Interest Rate loans, bailouts for shell producers, for the airlines, for Hospitality Companies even for some retailers, is that expected, is that factored into these markets right here. Maria well, basically in our opinion the reason havent fallen sooner is because you had push and pull between investors because we went from a rosy environment to one thats turned into debackable in a short period of time. So if you think about market clarity, you know, lets start with the fed. You know, the fed will take rates to zero, they are going to unleash qe5, theyve started to expand Balance Sheet. They took up 80 billion. We are taking rates to zero, expanding the Balance Sheet and do whatever it takes if you think of droghi moment. Point 2, to your point, go back to financial crisis because banks were in cross hairs, the consumers in cross hairs, the Housing Market in cross hairs and now its Corporate Market but it is what it is. Maria yeah. That would be another powerful stimulus to at least tell investors that the government is on the case. James troy, before we get too deep into the bailout talk dagen theyre coming james, its coming. We know that youre free market guys but this is emergency times, buddy. Hold on, we dont know how severe and how long its possible this is this is relatively shortterm event. We heard yesterday from all the banks saying how healthy they are. It seems like they got a lot of good Small Businesses, restaurants who have a shortterm credit need, isnt that what healthy banks can provide . Yeah, they can, but at the same time the Banking System is a private industry, right, so if they are going to roll credit they still have to look at risk and what youre looking cascade of defaults. No one is talking about handing over money, but extending emergency credit lines basically use the framework of what was done in the financial crisis and apply that to private business turned out to be profitable. Maria are you selling off into the selloff then . You want to step away we are fortunate. Maria well quick. We are looking to add where theres tech equity. Maria troy thank you so much, troy gayeski, thank you so much. Thank you. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Woi felt completely helpless. Hed online. My entire career and business were in jeopardy. I called reputation defender. 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Maria thats Bernie Sanders announcing hes staying in the race for the democratic nomination despite suffering major losses to joe biden in key primary state this is week this as biden gets ready for second speech today rather on coronavirus pandemic. James, i said this yesterday, im interested in hearing what he had to say because we havent heard Democratic Candidates talk about what they would actually do in leadership position in a crisis situation which is where we are right now. James yeah, i think that was a head fake from bernie, people were wondering why he didnt speak tuesday night after the voting, perhaps he and his staff were debating overnight whether he should quit. He thinks, i think, he wants to see how joe biden can hold up under oneonone debate, having to carry that much of a perhaps, i dont know, 90 minute, two hours. Maria he only speaks like 5 minutes at a lip. James you want to see him talk about coronavirus in the speech and, of course, we also want to see how he holds up in a debate on that subject and other subjects when its just two of them on stage. Maria yeah. Dagen you dont have to talk about the coronavirus because again the goal of the democrats is to lay it all on President Trump and the manage, so, again, politicians usually dont know when to shut up but this might be one instance where they do know when to zip it. I want to point something out in terms of the antitrump rhetoric, Michael Bloomberg spent 275 million on antitrump ads alone and promises to continue to spend millions of dollars leading up to the election on just ads craft today make the president look bad. Get ready. Maria at this point in time you see market deteriorating every day, chris, you see serious worries about your health, you would think that both sides come together. From an individual investor standpoint, what do you tell people when you see such a loss in wealth . We are down 15 . Chris 15 to 20. We have seen the movies before as we walkthrough and look at sars but most sack rattily around 911. The key to the course connect with professional and understand your path and be clear. Maria dont make knee jerk reactions over nervousnesses. We have more to talk about this morning. Big show coming up. President trump addresses the nation last night as coronavirus becomes a Global Pandemic. Twitter among the Companies Making it mandatory for workers to stay home, who else is shutting its doors. Twitter down, by the way, stay with us. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. The business of hard work. Hustle. And high fives. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. Maria welcome back, good thursday morning, everybody, thank you so much for joining us, good morning to you, im maria bartiromo, it is thursday march 12th, top stories 6 30 a. M. On the east coast. We have a tough day ahead of us once again. 11year bull run looks to be coming to an end for dow industrials entering bear market territory. The nasdaq and s p near bear market territory. That means down 20 from the recent highs and thats where we are just about after another selloff this morning. The dow industrials down 1,214 points right now. Better than 5 . Weve had 5 days left and right this week. The nasdaq down 391 points this morning, almost 5 . The s p 500 is currently down 133 points almost 5 there as well. On top of a big selloff yesterday the dow yesterday with second largest point loss ever plunged into bearmarket, down 461 points at 4 00 oclock on wall street yesterday. Loss about 6 yesterday. Global markets this morning, taking a cue from wall street and trading down. European markets are deep in the red and this follows the travel ban of europe announced by President Trump last night. The ftse 100 down 411 points the cac quarant down 260 and dax down 497. All averages down about 6 right now. Meanwhile news out of italy, italy will tighten lockdown even further, allowing Grocery Stores and pharmacies to stay open. The European Central bank out with latest Rate Decision later this morning and we will be focused on what the ecb has to say about further stimulus, what can they do in this environment, investors are looking for news of stimulus to battle Economic Impact of coronavirus now a pandemic according to world Health Organization. In asia overnight, red across the board. Worst performer there was japan, nikkei average down 4 and a half percent. Airlines have lost already nearly 3 billion. Just last month they lost 3 billion, time where theres typically a lot of travel. Interest rates down this morning. The yield on the 10year down rising after two consecutive day s. Oil prices, another major story, the war between saudi arabia and russia is raging on this morning, oil is down again 5 and twothirds percent. Oil is sitting at 31. 15 a barrel, this is not good because its the Energy Sector that typically is the big cap x expenders. We will talk about this coming up. Two cbs employees test positive for coronavirus. Cheryl casone with those details, cheryl. Cheryl good morning, two manhattan offices to work from home. Office is home to National News division and its local affiliates. Well, twitter forcing employees around the world to work from home. Twitter says its going to help pay for home offices and any additional day care expenses for employees, other Companies Like amazon and lyft have put similar policies in place already. Well, shares of boeing sharply lower in premarket, Broader Market selloff this morning but the stock is down almost 9 , investors cashing out of the stock again today. Company is take steps to preserve cash. They have frozen hiring, limited travel and overtime for employees but the company is facing delays and getting grounded 737 max jets back into the air and the airlines problems will affect boeing as well. Well, the Global Entertainment market actually was on fire for 2019, the Motion Picture says revenue topped 100 billion last year First Time Ever with avengers end game and bohemian rhapsody. 59 billion. And finally calling all super heros out there. Disney is bringing the marvel to california avengers park. Avengers campus will have all your favorites, captain marvel, spiderman and fully immersing. You get yourself a super hero. Thats kind of nice right now. Maria we could use super heros right now. Cheryl, thank you so much. Meanwhile fighting the coronavirus, Economic Impact. That has been number 1 priority in terms of the the impact from investors. President trump addressed the nation last night. He layed out a plan to aid Small Businesses hit by this illness. Im instructing the Small Business administration to authorize available authority to provide capital and liquidity to firms affected by the coronavirus, effective immediately. The sba will provide economic loans in affected states and territories. The lowinterest loans will help Small Businesses with temporary disruptions ad by the virus. To this end im asking congress to increase funding for this program by additional 50 billion using emergency authority. Maria joining us right now curtis chen. It wasnt just the travel ban that the president talked about, Small Business lending, paid leave for sick workers and potential deferral of taxes. Yeah, i watched the president s speech much later than it actually aired and i saw as step forward, but the reality when we think about what we are going through, lack of data, the market volatility, the fears, we have to work with what we have, clearly the focus on Small Businesses is an important one. Most of the jobs are really in Small Business. We can talk about twitter and other Big Companies are doing that are important but we need to focus on Small Business people here. Maria what kind of clarity do you need and the markets need in terms of getting their arms around the expectations part of this because the market is selling off largely because we dont know where this is going. Absolutely. Uncertainty is driving volatility. I think when i looked at the president s speech, i come from communications background. You cant solve a crisis when theres emotional element and factual element with just facts alone. What we need now is real data on testing. I think dagen had mentioned this earlier, one of the key things that we need is do more test and when it peaked in the country. Dagen anyone that has a fifer frankly, this is about containment. You have a fever you can go get tested. So we are just not getting even hands around that to prevent the Health System and the Hospital System from being swamped with the cases, thats where we are. Continue, this is about the maria the test kits were broken and cdc called back and said dont test because they are not effective, defective. There was the period of time when the rest of the world is doing testing and we werent. South korea had a drivethru test and china allowing to test at home and other things and now tests are out and more tests are going out. The administration seems to feel that we will soon get accurate picture. We are right in the belly of this, james, thats the problem james again, people should call if they think they have something. A response now that doesnt seem to have much cost benefit analysis going on. I railing thats difficult realize thats difficult to the in economic crisis and we look at economic cause and we look at italy with most total lockdown and italian banks to hold off on collecting debt payments. This is not necessarily a solution and in terms of the whole world, so i do hope that that factors into it as well. Maria its all leading to a series slowdown expectation here. James yeah. Maria yesterday we had cal bass on the show and here is what he said about recession. You have to believe that the u. S. Is also going to see a real impact. Do you think we will rerecession this year . Yeah, i think its somewhat inevitable for us to go plus 2 annualized to minus 2 whereas the year will be flat, maybe the year will be slightly down. When you hear lagard that is close to 2008 crisis, that may be true in europe but not the United States. Its important to draw distinctions between borders when we are talking about the effects of a crisis like this. Maria global recession or recession in the United States . Both. Hopefully roles of vims will help push bag recession. Clearly a slowdown but i dont think we are headed to recession any time soon. Dagen can i point out good news. The Mortgage Banker Association doubled forecast, refinancing forecast for this year, doubled it. Now expecting 1. 2 trillion in refinancings. Mortgage applications at roughly an 11year high. People are flooding the mortgage lenders to the point that they are actually raising rates to try and like slow down the demand for refi, that ultimately puts money in peoples pockets. If they have work interruption. Talk about the good news but actually theyll be positive things that come out of this including how we think relationship with employers and employees, should they be paid or not be paid when theres sick leave. A rush to think through how to better incorporate things like working from home, things like telemedicine. Maria rockbottom rates creating real command and refi boom, so we will be watching that, curtis chen. And then a model of health making buzz this morning. We will tell you is behind the suit, stay with us do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on maria welcome back, we are talking about the Global Pandemic underway. President trump taking serious steps to combat the spread of coronavirus putting in place unprecedented travel ban from europe. This after the world Health Organization declared outbreak a Global Pandemic escalating fears across the world. The number of cases in the United States right now more than 1200 in 44 states and washington, d. C. Worldwide cases now have surpassed one hundred thousand. Joining me right now physician, good to see you again, thanks for being here. What does the Global Pandemic mean and what do we need to know in terms of Global Pandemic . The truth be told we have been in pandemic state already and we are just now calling it that. We werent thinking about it differently than say last week. The general way to think about pandemic is kind of how it sounds, we have a lot of infection in a lot of places. Thats the large and simple point. I think the most important thing to remember, though, when we reached the pandemic state there are things that we can do and doing at home. Families, you need to be planning ahead, you need to get an action plan for your family, you need to also have an action plan for your employer as well as your Childrens School and the time for people to be stocking up on medications, family doctor, make sure you get 90day supply to minimize time you need to go into Public Places and places with large amounts of people and things of that nature. Thats the type of thinking we need to be doing now. Maria i know you want to talk a little bit about h1nn1, what if youre feeling a little sick, what question should we be asking our doctor, if you have symptoms or dont feel well, give us the right questions to ask and what individuals might feel if, in fact, they are contracting coronavirus . So the main symptoms of corona rye are you coronavire fever, shortness of breath, maybe vomiting, diarrhea, things like that, those are the main symptoms. If youre concerned that you have coronavirus or may have been exposed, you need to do just that, speak with your doctor, dont show up in an er, dont show up at the Doctors Office because if you do have coronavirus you may be exposing other people. Call your doctor and find out what they want you to do. We will go through the symptoms with you and give you proper guidance. Maria and then theres the test kits which we will get to in a moment. James, weigh in. James it does seem like the epidemiologist are more concerns that the clinicians generally like they treat patients some who are saying, look, this is bad but the flu is pretty bad too and kills more people so far and kind of more specifically when we think about sort of extreme measures, shutting down schools, for example, there seems to be evidence from that 2009h1n1 flu that if you shut down the schools the kids end up congregating at the mall or at Amusement Park or something so it doesnt necessarily slow the transmission. Do you have advice for local School Systems and people generally on this . Sure. Well, just to make a quick comment about the flu. Remember the mortality rate from the flu is. 1 . The numbers that we are getting from china mortality rate is around 3 , however, we dont know how many people are infected therefore we cant have accurate number of exactly mortality rate. Dr. Fauci said he estimated this may go down 1 . This is more deadly than the flu, okay, this is very serious. With regards to your question about schools, the decisions to sort of in part major social distancing measures that some cities are doing a void places of gatherings of places like 500 people, closing schools, things like that, the changes are made state and local level. Every Community Needs to take a look at what is happening there and make the right decision for them. That is effective. Maria social distancing meaning 6 feet away from the person next to you . Stay 6 feet away from the person next to you or those who are sick but also the idea of sort of not being in crowded place where is the chance of spread of disease can happen much faster. Maria yeah, do you have anything to say about the tests. Our viewers know what happened pretty much but i know that there were 3 parts to this test and one of those parts within the test didnt work. What does it consist of, who is eligible for the test as well . Okay, so lets go back to the test. Let me just start by saying im frustrated. I am frustrated. My physician colleagues are frustrated. We are talking all of the time about the situation. The tests that youre referring is cdcdeveloped test that was developed about a month ago, end of january, early february. There were problems with the tests, right . My my problem with that was not that there were problems with the test but that it took almost a month to get additional testing capabilities. We are now rolling out testing from other Facilities Private lab and lab corp. And other places, its just taking too long. We need to be testing people and a lot more than we have. I will honest with you, as doctors we are frustrated and in some cases we feel like our hands are tied. Maria dr. Caudle, thank you vey much, more on this coming up. Stay with us. Plastic. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria okay, how about morning buzz . First off model of preventive measures, Naomi Campbell stepping things up against corona virus wearing this head to toe outfit before boarding a plane in los angeles, the super model is notorious germaphone, safety first, next level. That is next level, dagen. Dagen you have to take a selfie of it, right . Im just surprised she is flying commercial. Youre so worried, stay at home. Maria or travel private. You the money. Real surprise on the singer last night. Check this out, who do you think it is . Maria okay, who is it . Here is the big reveal. Watch this. Oh, my god. Wow. You cannot believe is that tina fay. Maria yeah, your eyes are not deceiving, former alaska governor. [laughter] maria good for her. The singer. Apparently it was hilarious. Everybody loved it. Dagen did you heard the judges go, is that tina fay . Maria love it. Markets in the red this morning. Futures indicating another 1,000 point selloff coronavirus named a Global Pandemic, a lot right here next hour mornings with maria, stay with us. Protect your family as it grows company. A put enough away for college company. And a take care of your employees company. Were a help you ride the ups and downs of the market company. And when its time to retire, were a weve been guiding you toward this all along company. Think of us as all these companies, and more. Principal. Retirement. Investments. Insurance. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Happy thursday to you. Im maria bartiromo. It is thursday, march 12th. Your top stories right now, just before u7 a. M u7 am on the ea. Prizm issuePresident Trump issul ban from europe. The bull run coming to an end with the dow industrials in bear market territory, nasdaq and s p also nearing bear market territory. Averages are down 20 from recent highs in february. This after yesterdays big selloff, the dow with the second largest point loss ever, with a 1,464 point decline. The nasdaq was down 392. The s p was down 140. The world Health Organization declared coronavirus a Global Pandemic. More than 118,000 case versus been announced across the world, over 4,000 deaths so far. The house is preparing to vote on a multibillion dollar coronavirus package. What you need to know coming up. The nba suspended its season until further notice says the nba. March madness games to be played without fans. The cruise industry continues to suffer in the wake of this. A look at the rough seas ahead and what can be done to keep these companies a afloat. Mornings with maria is live right now. The selloff extending across the globe this morning, european markets are deep in the red following the travel ban announced by President Trump last night. The fq100 is down 377, dax index in germany lower by 545. The declines are about 5 to 6. 5 . British Prime Minister Boris Johnson holding an emergency meameeting on the coronavirus pandemic today, expected to announce more stringent member measures. No doubt we will hear stimulus coming from the ecb after we saw the emergency rate cut in the u. S. A couple weeks ago. Investors are looking for any news of a stimulus to battle the Economic Impact of the coronavirus which many expect to lead to at least a light recession in the u. S. In asia, red across the board. China says its airlines lost nearly 3 billion last month, a time where typically theres a lot of travel. Interest rates are also crashing once again, the 10 year down again after rising for two consecutive days, youre talking about the 10 year yield down 18 basis points to a level of 0. 692 right now. Oil prices continue to go down, the Oil Price War between saudi arabia and russia rages on, oil sliding this morning 5 and three quarters percent. Thats 1. 83 lower. Some of the top stories this morning, coronavirus gripping the country and the world, Maria Cantwell forced to close her dc office for the rest of the week because one of the staffers tested positive for the virus. Cantwell asked other employees to get tested as a precaution. The nba suspending its season until further notice after a utah jazz player tested positive for coronavirus. That player, rudy goldberg. The nba is speaking with the board of governors to discuss what its next move is. The nba news coming as a shock to many, even march cuban. The maverick mark cuban. The mavericks owner said he was taken by surprise, adding the initial reaction was this cannot be true. In new york city, the annual st. Patricks day is being postponed. It may not happen at all this year. Tom hanks revealed on social media that he and his wife rita wilson tested positive for coronavirus. They are in australia. They are shooting a movie and theyve tested positive. Well have more on that coming up. Then this, a legal victory for President Trump, the Supreme Court has ruled the administration can keep its remain in mexico policy for asylum seekers. Litigation over the program is continuing. The decision means immigrants will have to wait in mexico as the u. S. Weighs their case. A lower court said it would block the policy in arizona and in california. And finally, tiger woods has a new title, hall of famer, was elected into the 2021 golf hall of fame class after rules were changed to reduce the minimum age from 50 to 45. The 44yearold says hes honored and humbled. Woods has 93 world victories, completed a career grand slam three times and hes won four consecutive majors. Our top story this morning, a Global Pandemic, President Trump taking serious steps to combat the spread of coronavirus. He has put in place a travel ban from europe. That ban excludes the United Kingdom. This after the world Health Organization declared a pandemic, escalating fears across the globe. The president making the announcement from the Oval Office Last night. To keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. Each of us has a role to play in defeating this virus. Wash your hands, clean often used surfaces, cover your face and mouth if you sneeze or cough, and most of all, if you are sick or not feeling well, stay home. No nation is more prepared or more resilient than the United States. We are all in this together. We must put politics aside, stop the partisanship, and unify together as one nation and one family. Maria the Trump Administration went on to say that this travel ban does not apply to u. S. Citizens or trade and cargo are also exempt. Joining us right now, california congressman, john garamundi. I hope you are doing well and your colleagues are doing well in the capitol. Can you give us a sense of the sentiment and what people are feeling and what the threats are around coronavirus in washington. Theres a lot of personal concern. You heard about senator cantwell. We are moving quickly today to pass a major piece of legislation, following up on what we did last week with the 8. 3 billion to really fund the Emergency Response systems around the nation. This week, today, were doing what we call Families First act to help families and others that are out there dealing with the food issues, making sure that theres free testing available, ramping up the Medicaid Program so theres money available for cities, counties and states to deal with this crisis and Unemployment Insurance and paid family leave for medical purposes directly related to the corona. That will be up today on the house floor, should pass, hopefully the senate will pick it up and the president will sign it. We can take care of families, young and old that are out there. Maria california temporarily prohibiting gatherings of more than 250 people. Tell us about that. Why is that important . I mean, obviously you want to not go to big crowds but these prohibiting gatherings is interesting in california. Well, were going to be doing that all across the nation. Some of that is taking place in other states. Really its called social distancing, a new word that two new words that weve come to understand as part of our life at least for some while going forward. And thats part of it. This morning, i have a hearing that im conducting with the marine corps and the navy and were taking steps right there. Were inviting people not to come to the hearing, to watch it on tv or streaming live and to limit the participation of staff in the hearing. All part of the social distancing. Were going to be taking additional steps at the capitol. Im not sure this is correct. I heard that tourists will not be tours will not be allowed in the capitol. That needs to be double checked. Maria that sounds like a smart idea, actually. I think so. Maria youve got to get all hands on deck at this moment in time. James freeman here. James looking at that italian example. Obviously, this illness is hitting the elderly, the issue there and their Health System has been not enough ventilators for all of the elderly patients in some areas, not everywhere. But i see theres a lot of stimulus ideas. Is there anything specifically aimed that youre expecting passage on to encourage the increased production of ventilators in case we see that kind of scenario in the u. S. . Well, almost certain to need them. We know there are a limited number across the nation. We can anticipate were going to need many, many more. Last weeks legislation actually provided about 3 billion for equipment of all kinds, emergency rooms, icu units, gent lay tores, testing ventilators, testing an so forth. All of those were in last weeks legislation. The legislation we have coming up today with free testing, that will require that there will be money available for testing which means there will be that it will be available. And so these procedures, the legal and the money is in place. Now, the question is, can we ramp up the production . I think we can. And we also have another problem that its a longer term one, but its a very, very real one and that is one in which the fundamental drugs that we need to fight infections of all kinds are produced in china. And we know that those are going to be restricted. So we have legislation, weve actually been working on for more than eight months now, to create a domestic supply. Unfortunately, thats not going to be available for a while, its going to take time to ramp that up. Maria can i just ask you, congressman, how did we get ourselves in this position . I know this is three administrations or whatever but the fact that 70 of the active ingredients in our prescription drugs are coming from china, here we are dealing with this pandemic now that originated in china, and we know that the numbers are going to go up. I mean, ive been told by insiders, its going to be tens of thousands and then hundreds of thousands of cases in the United States in the coming year. Exactly. Maria now we need medicines and theyre in china and so how do we get ourselves in this position that were so reliant on china and what are you going to do about it . This is horrible. Well, its certainly a major, major problem for the United States and particularly a National Security issue, is where i came into this issue last fall when we looked at the issue of readiness of our troops. Part of that readiness is do they have the various medicines they need to stay healthy. The answer was, well, yes, only if china allows those into our country. Now with the pandemic and the shutdown of chinas operation, it becomes even more acute. So what we how did this happen . Its happened in many different ways. It is a specific chinese Economic Strategy to control certain critical parts of the world economy. Theyre certainly doing this in ports and in shipping. Theyre doing it in the medical field also. And so this is a strategy they put in place by basically using government subsidies to undercut all other providers and in the United States maria i know that what their plans are. I know they use their money to do it. Theyre throwing their money around africa and europe. Now theyre beholden to them. How did we allow this to happen . Im talking about the u. S. And why we allowed this. Such critical things being made by foreigners. Well, you know, were all happy the economys booming, things are going along fine, people are employed, were not paying attention. There are other critical elements that i know yesterday i was involved in a hearing that we had and we were looking at the role of china taking over control of key ports, for example, the panama canal. They control that. How did we allow it to happen . Well, they had a lot of money, they were spending the money. In a very strategic way. And we were not paying attention. Maria yeah, i mean, ive got to say, devin ne knees and the intel devin nunes did a long investigation into this. He told me about the ports three years ago. Its not new. Maria we have not been paying attention. Do you worry the chinese will be thugs about this and hold back on certain things. I was reading an article that basically said, look, chinese economist said if the u. S. Is going to hold back things on huawei, then were going to hold back this. Then i was on the phone with a head of a hospital about a month ago, i told my viewers as soon as i found out, and he told me that, yes, these face masks and this medical equipment that we need made in china but china has told the ships turn around, go back to china, we need this stuff, were not keeping any of these contracts that we have to sell them to america. Didnt you so well state the problem . You might take a look at rare earths and the japanese and chinese arguing over an island between the two countries. Maria yes. Japan said its ours, china said no, japan sent ships out and china said oh, about the rare earths, youre not going to get it manufacture. Maria unbelievable. The problem is very real. The answer is here within the United States we have the capability to do this. We could ramp up production of these various ingredients for all of the drugs. Its a matter of will. Its a matter of paying attention to it. They have a law that dates back to the 1950s that allows the military to specifically begin production of key things that we need for National Security. So we could do this. The question is, do we have the will, do we have the organization to make it happen. The answer is we must, we have no option. Maria congressman, thanks for your leadership. Were counting on you. Thank you, sir. You got it. Maria well see you soon. Stay with us. Back in a minute. Theres smart and then theres street smart, like a hybrid with best in class epa estimated range of more than five hundred eighty two miles. And ford copilot 360 technology to help you outsmart some of the things youll encounter on the road. With more available second row leg room than a chevy suburban. This is the completely reimagined, street smart 2020 ford escape. Maria welcome back. The coronavirus pandemic has forced a complete lockdown of italy. The government there now says only Grocery Stores and pharmacies can stay open. Joining us right now is tamaska research chief and cocktail investing coauthor, lenore hawk inches. She is in italy. Thank you for joining us. We wanted to talk about the broad economy and the Coronavirus Impact until we learned you are in fact in italy. Tell us what the conditions are on the ground for you. Where are you specifically . Good morning. I am in lake como. My office is in milan. Nobodys been able to go into milan if youre living outside for a couple of weeks now. Im in lake como which is about 40 minutes north of milan and about 50 minutes south maria i know where it is. How are things on the ground there . So right now, if i go outside, theres no one. I mean, theres nothing moving at all. The only thing you will see is the army and Police Patrolling to make sure that if they do see anyone, that you are a resident because youre not allowed to leave your town and the only thing you can do is go out to get food or go to the pharmacy. And those are the only things open. James im wondering hi, its James Freeman of the wall street journal, by the way. Um wondering about the Economic Cost here. Italy not the strongest economy in the world and not the strongest Banking System in europe, to say the least. Now this is almost an economic halt in the country. Banks being encouraged not to demand repayment of mortgages, for example. Can italy just sort of indefinitely shut down economically without some larger bailout from the European Union . Well, what were hoping for is that this is similar to what we saw in china, that if you quarantine everyone, total lockdown for a couple of weeks, that we can really stop this thing in its tracks. But like you said, the economy is all but at a complete standstill. Every hotel is empty. The banks are asked to not be demanding mortgage payments. But only about 13 of italians have a mortgage and on the other hand, youve got about 200 billion in bank bonds in the hands of italian citizens who count on those bonds for income and if the banks cant charge mortgages, how are they going to pay their bonds . Maria lenore, how are you doing . Hanging in there. Im in an armegedon. Maria do you think well see armegedon for the economy . Whats your take, before we go . Yeah, i think we have not yet begun to see just how disastrous this is going to be. This is going to be the ultimate test for the eurozone, if we do not get greater Fiscal Consolidation you are going to see the eurozone fall apart and then well have a currency crisis on top of an Oil Price War and Global Pandemic. Maria the eurozone has been tested time and time again since it was the eu, the euro was created thats for sure. This is one of those times. Good to see you. Thank you very much. Stay safe. Coming up, the nba shut down as the coronavirus is labeled a Global Pandemic. Plus, baby yoda right here, the breakout star from the mandalorian making an appearance onset. Dont miss that. Back in a minute. Dont just plan to retire. Plan to live. An annuity helps cover your essential monthly expenses, so youre free to live the life you want. Find out how an annuity can give you Lifetime Income at protectedincome. Org theres a company thats talked cathan me jd power. Peopleme 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. 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Not promise. Prove. And now, save up to 600 on select sleep number 360 smart beds. Plus, free premium delivery setup when you add a base. Ends march 15th maria welcome back. Coronavirus hitting the sports industry. The nba suspending the rest of the season until further notice says the nba after a utah jazz player reportedly tests positive for coronavirus. The nba has not yet announced when or if the season will resume. It comes as the ncaa says its march madness tournament will go on but without fans in the stands. Dagen, break this down for us. Dagen the utah jazz center, he became the first player to test positive for coronavirus causing initially the utah jazz game against the Oklahoma City thunder to be postponed and then the nba made this unprecedented step to at least suspend the season until further notice. This was rudy earlier in the week, show that video of him touching all the reporters recorders. Maria what was he doing, touching all the microphones. Dagen jokingly during media availability a couple days ago. Well, apparently at this point he had the virus. Not funny. The ncaa has also made the unprecedented decision to hold the tournaments, both mens and Womens Basketball tournaments without fans during this ongoing crisis. Heres what mark cuban had to say on espn in reaction to this nba decision. This is peoples lives at stake. This isnt about basketball. This is a pandemic, a global pan at the mick pandemic, this is something out of a movie. Dagen it is out of a movie. Mark cuban owns the dallas mavericks. A couple other sports issues. The nhl, the regular season comes to an end on april 4th. Heres what the nhl says. The stanley cup playoffs start shortly after that. The nhl is aware of the nbas decision to suspend the season due to a player testing positive for the coronavirus. The nhl is continuing to consult with medical experts. We are evaluating the options. We expect a further update today. Major League Baseball opening day coming up march 26th. So a couple of weeks away. We know that california and oregon have banned gatherings of more than 250 people. So either baseball players, there are five major League Baseball teams in california alone will be playing in front of nobody or maybe we could see a delay to the start of opening day there. Thats my sports roundup. Maria the goldberg thing is troubling to see him touching everything like that. Hes playing it like its a game. Maria its not funny. No, its not. Its not just about games. We enjoy entertainment. For the people that work at these facilities, the people that are this is their income. Maria right. Whether working in the parking lot or the food court. What happens with them . This is a very serious issue. Maria good point. Dagen ill just point out the nba is saying suspending until further notice. Theyre going to be looking at this issue. It is possible that they resume games. Again, also a professional Sports League going into the playoff season, kind on an unprecedented reaction. Heres the other side. In the contracts for the nba players, the owners cannot pay them because of a natural type of issue like this. This pandemic. So this is a little chess match being played. I dont know, they may, but the owners can withhold pay to the nba players. James i guess the goldberg situation kind of economy cates it. Complicates it. You would think they look at the ncaa model, think if theres ways to play, with a limited crowd or without a crowd. Dagen its not the crowd that was the problem, its the player that had it. What did you say earlier, its not about a couple of cases, its the question comes up, who else has it. Maria yeah. Dagen until they can get everybody tested, have you to take a pause. Maria thats a whole other conversation, the testing. Well take a break. When we come back, Harvey Weinstein waking up in the hospital this morning, says detour after court before heading to prison for nearly two dozen years. Well talk about his sentencing coming up. Influencers making bank, Ariana Grande gets the headlines. The average social media star can do quite well. Were looking at these numbers. Wait until you hear this. Stay with us. Youve got it all. All this grass. All this mulch. All these projects to do. You need a tractor that can do it all right. Mowing. Hauling. Mulching. Trenching. If its on the todo list, the 1 selling subcompact tractor in the u. S. Can do it. Versatile performancematched attachments. Legendary durability. Affordably priced. The kubota bx series. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is thursday, march 12th. Your top stories, 7 31 on the east coast. The 11 year bull run perhaps coming to an end for the dow industrials, nasdaq and s p 500 also nearing bear market territory. This week the averages are down 20 from recent highs and the dow entered bear market territory yesterday. Take a look at futures, testing limit down levels, meaning the selling at the open could be actually worse than what were looking at right now because there are Circuit Breakers in place right now. We are at limit down. The dow industrials right now down 1,231 points, that is 5 and a quarter percent. Nasdaq is down almost 400 points, about 5 as well. And the s p 500 down 132 points, basically you cant decline more than 5 and thats what were seeing this morning with the limit down Circuit Breakers in place. This after yesterdays selloff, the dow with the second largest point loss ever, plunging into the bear market, dow industrials down almost 6 , 1,064 points lower, nasdaq down 392, s p down 140 yesterday. Global markets are continuing this, european markets in deep selloff mode after the travel ban of europe was announced last night by President Trump. The fq100 down 418 points, cac is down 280 points, 6 , and the dax index in germany lower by 6 , 634 points. News out of italy, italy is tightening the lockdown. It is allowing only Grocery Stores and pharmacies to stay open. Meanwhile, the European Central bank out with the latest Rate Decision in the next hour. We will bring you the latest information, what investors are looking for in the way of stimulus from the ecb to battle the Economic Impact of the coronavirus pandemic. In asia overnight, red across the board as well. As you can see, the worst performer was japan, nikkei average down 4 andahalf percent. China is saying that its airlines lost nearly 3 billion last month. A time when there is typically a lot of travel happening. The yield on the 10 year is down again after rising for two consecutive days, it is down 18 andahalf basis points. Oil prices are also down as the war, the Oil Price War between saudi arabia and russia rages, oil sliding again, 6 and a quarter again. Oil is at 30. 90 a barrel, down 2 a barrel, down 6 and a third percent. Bernie sanders is vowing to stay in the race for the democratic president ial nomination. Cheryl casone with those details right now. Cheryl. Cheryl thats right, maria. Sanders says he looks forward to debating joe biden on sunday in arizona after he was soundly beaten by the former Vice President in michigan, missouri, mississippi and idaho. Biden going to be in delaware today, hes going to discuss how the u. S. Should respond to the coronavirus pandemic. Both biden and sanders canceled Campaign Stops in cleveland earlier this week over concerns about the spread of the virus. Bidens campaign has created a Coronavirus Committee to help reduce health risks for the candidate, his staff and supporters. And President Trump has done an aboutface, canceling Campaign Events planned for colorado and nevada. Well, call of duty war zone proveing to be a massive hit. The game of free to play Battle Royale version of the franchise attracting more than 6 million players in its first 24 hours, thats astonishing. The last title in the franchise, call of duty mobile, was downloaded more than 100 million times in its first week. And finally, if you didnt know, social Media Influencers dont work for free. Kiley jenner can make more than 1 million a post. The average influencer does pretty okay. The average takehome salary could be from 30,000 to 100,000 a year. That is according to media site mick. Com. Followers are key. Jenners got 164 million, more fans means more money. I have a couple friends that are in the real estate business, design business, and they make pretty good money off their instagram accounts. Maria thats amazing. That really is. Cheryl, thank you. We want to look at the Harvey Weinstein case. This morning, weinsteins back in the hospital after leaving and learning his fate yesterday. The disgraced hollywood mogul was sentenced to nearly two dozen years behind bars, 23 years he got, the judge choosing to run the two guilty verdicts consecutive, rather than concurrent. Weinstein was taken to the hospital because he was complaining about chest pains. Joining us now is defense attorney mercedes cohen. This sentence is closer to the maximum allowed under law, right . Exactly. If you look at the sentencing memo from the district attorney, its no surprise. He details 50 years of depraved Sexual Misconduct. He marc marshalled in abuse aftr abuse of women during dozens of years, plus the fact he was constantly threatening them, threatened to ruin their lives in many cases because the acts were so depraved the women were not able to piece their lives back together after the encounter. No surprise whatsoever. Maria the attorney blasted the verdict. Lets hear what she had to say. I want to get your reaction. The sentence handed down by the court was obscene. That number was obnoxious. The number did not speak to evidence, nor did it speak to justice. Maria wow. Was she at the same trial . Honestly. If you were sitting in that trial, if you were a juror or someone that sat in the trial and saw these women testify, it was heartbreaking. The two women, hailey and mann and the many witnesses who came forward, the prior bad act witnesses that detailed the Sexual Misconduct and his actions. There is no question that the jury got it right and theres no question that the judge got it wrong that the judge got it the prior bad act issue, i think this is what weinsteins lawyer was criticizing, i think, as i understand it, saying he was held accountable in part for crimes he was not convicted of or alleged crimes he was not convicted of but is this common where you have prior bad acts where you have evidence people on the record, depositions or whatnot and thats used in sentencing . Thats a great question. Most of the time the judge is making that decision, theyre making the decision as to whether the prior bad act witnesses can come forward because it can have a very prejudicial effect. The judge said its so compelling to have those witnesses come forward, thats why they he actually ruled in favor of the prosecutor and allowed those witnesses to come forward. Maria this is not over. I mean, hes got the 23 years, but hes also awaiting another trial in california. So take us through that and do you think hes ever going to get out of prison or is this what do you think . His lawyers argued this is a life sentence. Youre giving this man who is 67 years of age who is of poor health 23 years and there is the la as you mentioned, the la trial thats in the wings. He has to be extradited to la. He hasnt been arraigned on the multitude of charges there. Youre going to see a lot more witnesses that will come forward. Youre going to see these two witnesses that came forward, that those charges are actually pending against them. Hes probably going to be extradited, go before a judge, he will plead not guilty as he did here when he was charged in new york. Mercedes, how much time will he get . In california. Yes. Almost 28 years. When you add 23 years and, thats 51 years. Dagen thats if hes convicted in california. Exactly. Dagen can you fake chest pains to get into the hospital rather than sitting at rikers . Im asking as a question. Is your treatment in a hospital prison better than an actual prison . I would think that its probably very true, dagen. Im sure hes continuing to you can say youve got chest pains, you go to the hospital, youll be treated. Dagen i want to remind the viewers and bring this up, donna ratono, the defense attorney for Harvey Weinstein, when asked whether she had been sexually assaulted in a podcast with the New York Times, i have not because i would never let myself be put in that position. I mean dagen i want to bring this up. Everybody has a right to a defense. Harvey weinstein, his entire life has been surrounded by men and women who covered up his behavior and aided an abetted his destruction of peoples lines and they will pay for years to come. Maria she is suggesting it was the womans fault. Dagen yes, yes. Again, did you read the memo, there is a two year investigation, i have it in my hands, 19, 20yearolds, 22yearold, these are young, Vulnerable Women and he used his power to threaten them, coerce them into this disgusting misconduct. Dagen he was surrounded by lawyers, he was surrounded by movie producers, he was surrounded by executives. Maria big political donor too. Dagen he was surrounded by big politicians. I will encourage this is according to the book that the New York Times reporters wrote that lisa bloom wrote this extensive memo to Harvey Weinstein about how she could defend him against allegations, i encourage people to read that. She has had to apologize for it in the aftermath. Its appalling that women who are womens rights advocates who basically bend down to Harvey Weinstein to protect him and not the women he abused. Maria he is learning his fate and he is going to be facing his fate. Harvey weinstein. Thats the bottom line. Her hmercedes thank you. 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Maria well, the force is strong right here, build a bear workshop debuts the long awaited plush baby yoda from the hit mandalorian. Joining us now is sharon john. Great to see you. Thank you for joining us. We have this one on set right here. How hot is this toy right now . Well, its really exciting. The baby yoda or the child of course is not in the build a bear stores or at our build a bear dotcom just yet but we announced as you know and we have signups of well over 100,000 individuals who cannot wait to get a child. Maria build a bear, you released earnings yesterday while also announcing youre going to hold off on guidance for the fiscal year due to coronavirus uncertainty. Tell us about that and sort of the environment that youre dealing in as we continue to see stories from Corporate America of the impact to earnings and has it impacted your expectations for this guy, since this is such a hot item . No, we still believe that there will be tremendous demand for the child and because we have shifted in the Digital Economy in the last few years to really enhance our capabilities on build a bear dotcom, if we need to, we can shift the way we offer baby yoda to the consumers that really want to be able to have that cute Little Critter and so we have a lot of opportunities in different ways for people to experience build a bear and to be able to buy products from us. Maria where do you where are your production facilities . Are you seeing any declines or supply issues due to coronavirus . Well, we did see some slowdown of production of course because you probably know many of the factories did not open up directly after chinese new year, there was a delay. However, right now and we are diversified to some degree in a number of different countries, were not just in china. But some of the theres been a slower rampup. But right now were still expecting to see the child arrive sometime in spring and we are we do have containers on the way. We have some supply moving. It is not at full capacity right now but we do have containers coming right now. Maria i want to point out our breaking news which we have on the screen. Ups is going to be replacing david abney as ceo, they will replace him with carole tome. Abney will become executive chairman on june 1st. The stock is down on this news. This is ups, this must be a company that you work with, right . We have contracts with a number of Different Companies to deliver products for our dotcom and of course we want to make sure that that is a healthy business, because ultimately allowing consumers to participate in your brand in any way they want to, omni channel is a really important strategy. Maria i just wanted to mention that the ups this headline is coming out, ups is replacing the ceo. James James Freeman at the wall street journal. Wanted to see if i can get a read from you on the impact on retail of the virus and people going out less, shopping less in physical stores. I dont know whether its your business or others, i think people are trying to get their hands around this issue of sort of how severely and for how long a change in the normal customer traffic can u. S. Retail withstand . You know, theres so many scenarios that you can imagine right now, which is one of the reasons why we did decide to just refrain on guidance even though we had planned to announce an improvement in both our revenue and profitability, having just returned to profitability with a 20 million swing on our pretax from the prior year on a gaap basis. We are very pleased with our prior year results. And had noted that our yeartodate sales were up. We did see a weve seen some traffic shifts, though, in the last week and its really hard to tell exactly how long this will last and how people will react. Were making changes in our everyday decisions about what we do. The health and wellbeing of our employees and our guests and our supply chain and our partners is all very important to us and weve ramped up our sanitation procedures which of course weve always had but we want to follow the cdc and the regulations and we will take the appropriate steps that we believe keep people safe. Maria sharon, thanks very much. Well be watching the developments. We appreciate you joining us this morning. Sharon john joining us from build a bear. Well be right back. Stay with us. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . 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Plus, free premium delivery setup when you add a base. Ends march 15th maria welcome back. Well, the cruise industry in crisis, popular lines experiencing massive setback as a result of coronavirus. President trump said the administration is working very closely with the industry, taking strong steps to help it out. Joining us right now is cruise planners founder michelle fee. Thanks for being here. Its an important moment for the industry. How is it responding to coronavirus . Which cruises are taking the biggest hits and what are Cruise Companies doing now in response . The cruise lines are reacting. Theyre agile. Theyre responding. You know, travels resilient and theyre taking these steps that ive never seen before. Ive been in the industry for close to 40 years. You know, what happened on a couple of cruise ships, there are over 300 ships sailing each and every day. 600,000 passengers are onboard and 30 Million People travel each and every year. It is one of the safest and cleanest modes of travel. Currently, they have taken it up a notch. Theyre checking everybodys temperature prior to boarding. Theyre checking passports so that no one from any of those countries that are level four can even board the ships. Theyre screeningcar their screen their screening procedures have increased for the crew members, even the buffet lines theyre not allowing people to serve themselves. The crew is serving people. This is not just to protect the crew and the travelers, but also those destination thats theyre visiting. Maria thats very good. But ive got to tell you, i spoke with dr. Ben carson this weekend on sunday morning futures and dr. Carson told me theres not the ventilation that should be on cruise ships that are on buildings. For example, in terms of the ventilation on cruise ships, they dont have the type of ventilation that strips out particles in the air which is a major negative. He said we learned a lot of lessons in the face of the coronavirus and cruise ships will be retrofitted and built differently in the future because of this. Well, the people who were on the diamond princess actually got a letter from the cdc that said they were not infected room to room through any air filter, that it really was people to people contact. James hi, james free man here with the wall street journal. Im wondering, you were talking about screening passengers, see if anyone has a temperature, if theyre sick, et cetera. But im wondering, weve seen with the cruise ship incidents and everywhere, this really does primarily hit the elderly and people with preexisting conditions. Do you recommend if people are over a certain page or if they have respiratory issues, diabetes, that they think about a different time to travel . Maria real quick. What theyre saying right now is Healthy People should travel and cruising is a safe mode of travel for Healthy People. So in the short term, maybe those people with underlying narrator this is chet. He loves monday through friday but lives for the weekend. Hes put some miles on his truck, and now its time for something new, so he came here and saw what other people paid for the same truck he wants. Now he can recognize a great price. It was so easy, chet was in and out and got right on back to the life he loves. True car. Buy smarter. Drive happier. Us. Im massivema. It is thursday, march 12 top stories right now 8 00 a. M. On the button east coast President Trump issuing a travel about an from europe that among others sparked a global selloff this morning, the 11ier bhul run comes to end nasdaq, s p 500 nearing bear market territory, of course, bear market averages are 20 below recent highs, many recent highs were clocked in february. Of this year. Want yesterday o selloff severe dow second largestpoint loss about pushing into bear market territory dow industrials down 12464 points yesterday right now down another 1231 points, on the Dow Jones Industrial average futures, news this morning ups replacing david abney as ceo carol tome taking over effective june 1 ups down 6 1 2 world Health Organization declared corn vvv a Global Pandemic over 124,000 cases have been announced worldwide, in terms of those people dying, over 4,000 deaths so far. The house is preparing to vote on multibilliondollar coronavirus package today, 2 nba suspended entire rest of the season until notice march madness games played without fans. Flight to european adding more pressure to Airline Stocks many looking to cancel domestic trips down across the board what you need to know if looking to cansale flight mornings with maria is live right now. Selloff cross the globe european marketing down across the board ft 100 in lows of the morning it is down better than 7 , 418 points lower on ft 100 the cac quarante in paris down 289 points 6 and a third dax in germany down 6389 european markets deep in red, following the travel ban announced by President Trump, and we are waiting he on ecb, this morning, british Prime Minister Boris Johnson a emergency meeting on pandemic examined to announce more stringent measures European Central bank latest rate about 8 30 a. M. This morning, investors expecting news of stimulus whatever 12i78 lus ecb comes out you the with to battle the economic cutback of coronavirus asia overnight across the board as well china says its airlines lost nearly three billion dollars last month a time when normally there is a lot of travel that time of the year, japan is down 4 1 2 overnight, lets check Interest Rates yield on ten year down after risinging two sessions as you can see 10year yield down 15 and one half basis points,. 714 that is not low of the morning, oil prices are down once again as that Oil Price War between saudi arabia and russia rages, oil sliding another 6 this morning, it is now sitting 30. 98 a barrel on price of crude, President Trump taking serious steps to combat the spread of coronavirus announcing a travel ban from europe excluding uk at least 12 hn cases in United States worldwide cases are topping 100,000, Jackie Deangelis at Jfk International airport in new york looks like a ghost town behind you jackie. Reporter good morning to you maria that is right the folks here nervous about what this ban means everything trying to remain call the as a result of the coronavirus at the same time you the the president makes an address like that, people start to think about you know taking more precautions, and interesting first lets listen to what tournament said novel office last. To keep new cases from entering our shores, we will be suspending all travel from europe, to the United States, for the next 30 days. We are all in this together. We must put politics aside, stop the partisanship and unify together as one nation, and one family. Reporter part of this is about personal about responsibility, right . With travel restrictions, and advisories people making decisions on their own could have impact on Greater Community the concern is Community Spread i tell you anecdote i was on elevator in paument building stun a gentleman 70 years old with a suit case i asked where are you going he said italy that is person who will not be allowed to come back, into the United States, for 30 days, and it seems likes with good reason but there are a lot of questions about how this will impact business, other travelers other countries, in terms of imposing new restrictions, as well, so a lot remains to be seen maria. It will continue to flush out, i imagine during the day. He is keeping his plans going to italy in the face of this lockdown going on. He is going. Soundss extraordinary Jackie Deangelis jfq back with me chris hogan Dagen Mcdowell. Much confusion this is the problem that many people had with with president s address last night were there a number of things needed to be corrected or clarified, after the fact, and my friend carey was texting me about this, about because she is asking about what if people are traveling in europe right now, about the department of Homeland Security, had to clarify that this 30day ban on travel for most europe to United States exconcludes u. S. Citizens permanent residents if you are over there you should not have any problem getting back into this country despite travel ban going into effect no one should be going to italy right now. Period. Entire country on lockdown. You probably if you want to come back being into this country you probably have to take a test. And probably have to maybe in some cases selfquarantine, right not just coming back into america after going to italy. Even europe questions yet to be answered also this ban, does not apply to the trade of goods between if United States, and europe, despite what the president said it seemed like a verbal slipup last night that it would apply to trade he said it will not only apply to tremendous amount of trade and cargo but various, other things. And just one more thing, that Health Insurers are not waiving payments for treatment, they will waive what does apply to testing but those are some clarifications that speech biggest problem raised more questions and inaccuracies had to be corrected after the fact. Just the fact weve got a ban in place, for europe, sort of unnerveed people we were already in a massive global he selloff certainly, but that ban on europe extended recent selloff on news, nasdaq on trackers, to join the dow in a full bear market and that is 20 down from highs james. I i mean we have seen last few years when you limit the movement of goods cross borders has a cost now of when you limit movement of people there is a cost, there are big Economic Issues here and i hope they are being taken into account as we seek to the stock market is a living breathing thing so when you have things like this that happen people get emotional, people many move so i dont want to people making kneejerk reactions doing a selloff. You need sit clear understand your goal revisit your plan talk to investment progressively understand what you are trying to accomplish time frame that you have to do it you the. Maria what i would say it is about expectations, once the market and the Investment Community understand clarity how severe this will be on economy, heavy selling will stop we dont have clarity right now we dont have the the runway to understand i will tell you what cornerstone macrois writing reflecting the coronavirus collapsing crude prices Consumer Spending capex likely to contract neck quarter down 4 10 of a percent quarter over quarter puts Second Quarter gdp on track for 8 10 of a percent decline we know recession is two quarters backtoback of contraction cornerstone macroexpecting contraction Second Quarter 8 10 of a percent, are however sppg rebound second half they say, the base cases for growth to rebound in the second half, benefiting from the low yields, bwa, yields low Mortgage Rates possibly fiscal stimulus, clarity second should have a go see good rebound lets not forget broader long term picture in middle of selling right now we are not all o going to die tomorrow, folks. On that note, the Mortgage Bank issues association yesterday doubled amount of money that will be in refis this year refinancing 12. 2 trillion dollars Mortgage Applications recent week up 55 , that is almost an 11year high. And the banks are so swamped we mortgages reif i unanimousing applications they are actually getting rid of like the the most attractive refi rates, to try and slow that demand, so this is something that is going on in the backdrop that will provide some ballast certainly for individuals. A lot of Great Companies now paying, dividends more than on a treasury beyond, i think that eventually will entice people. Be careful about that again Like Occidental Petroleum look at double did dividend it turns around and cuts dividend. A shake up this morning at ups, the ups has announced that i want is replacing david abney as ceo with carol tome the stock is down 6. 8 pfrz, we are taking a break and come back with that plus sea of red for technology the sector under pressure as coronavirus grows to Global Pandemic take a look at these prices. Stay with us. Out here there are no half measures. Doing it right is plan a and plan b. You need equipment thats up to the challenge. All day. All conditions. All year round. Maria welcome back, oil prices extending the declines now down nearly 6 this is another major issue for the stock market. Coming amid the production battle between saudi arabia and russia following President Trumps announcement last night banning, travel and the travel ban from europe joining us right now council on Foreign Relations energy and environment senior fellow thanks very much for joining us talk first about energy area your specialty how bad will things get in terms of the price where it is right now and impact on business . Well, i think weve probably havent seen bottom yet part of that is everything that happens people stop traveling you are not having as much trade in goods, all those things eliminate oil demand but we are not seeing any elimination yet of supply. And so basically, we have a lot further to fall. I am talking about price of oil and what it means for some of the most successful parts of our economy and that is the shale industry. What are you expecting from Shale Companies may have made a bet on 60 dollar oil 55 there are a oil in terms of putting out rigs to drill how that is going to change. I think you are going to see sort of gradual slowdown one or two Companies Already announced their laying off rigs going to be different because some Companies Use futures market to sort of weaken the blow on them and others havent. So it is going to be staggered but we are analyze about a half million to a Million Barrels a day u. S. Production over the course of the year, could could pass by, and be shut in. If we stay below 30 dollars we are looking close to doing. I want to know what is the risk between saudi and it is russians . What is the big deal . Well i think russia really was concerned coronavirus in europe that is their critical market. One of their oil and gas goes to europe they ban theed to defend that market, against u. S. Exports. Maria one opec, geopeck came out chris a week ago said we want drought production russia said we are not having it not part of production cuts russia starts ramping up producing more opec wanted a production cut. If alive in 70s, we remember that seeing foreign dictatorships not able to come together the withhold supplies is not entirely bad news i mean looking for the u. S. Consumer, at very cheap gasoline do you know how cheap we could go this year. I think by the memorial day could see low pump prices two dollars maybe lower overtime so that is good for the u. S. Economy, and sort of like a stimulus especially for average americans. But the problem really is that we have these other corollary things of people having to do social distancing not traveling, so the markets going to be under pressure and we have to worry about the credit markets that have lent to Energy Sector. Because we have to worry about where those will be underperforming nonperforming we see so forth treasury probably has to step in on that. I think a lot relates to the maturity schedule for frackers, last few weeks numbers few months there is a on the of money about to come due. 2021 a big year for to come due, some in 2020 really what is going to be needed Something Like a program where you know treasury can sort of take on that price goes back up. Dagen that was a moan from james you heard go ahead. This is one sector of the economy, not everybody has loans coming due immediately. As we said they bet on higher oil price. Maria yeah. I think the way you have to look at it a con tangiblingon effect if you see a lot of failures High Yield Energy that is going to spread into the whole high yield could be very dangerous for the markets i think there really does need to be something done to stabilize that that will be better than giving these guys a tax break, because that doesnt really help you for the companies that are distressed versus companies that are arent, target the companies that are distressed. Talking yesterday about being no own effects Energy Sector has a lot of them, one analyst here is expecting that the probable u. S. Industry response to this is approximate 20 increase in activity equals 500 u. S. Oil rigs by august cut in oil rigs there are people work on those rigs work in Energy Industry may very well get laid off bankruptcies lead to that credit sayings banks see loans not first lady that as well. Dagen in terms of contagion Guggenheim Partners wrote our estimate is potentially as much as one trillion dollars of high grade bonds, are heading to junk, that supply would swamp the high yield market doubling size of the below Investment Grade market. That alone would widen spreads without the effect of increasing did he faulefaults, n one area in oil dominos into other areas. White house needs to be on top of it we are trying to stop domino effect kt. Maria yeah. Were not so worried about one company not having good cash flow, or leaving a few hundred thousand barrels of day of production or drilling we are worried with credit effect the most important. Maria yeah, this is something that a lot of sectors get impacted by just are it is a lot broader, but lets not forget, that these are the moments in time, when markets free markets, open up, to other investors coming in, at different prices, that is i called callism, the world goes round and round capitalism. Investor wants to bottom pick in oil and gas absolutely. Maria exactly, exactly thank you so much well be right back. Yes im stuck in the middle with you, no one likes to feel stuck, boxed in, or held back. Especially by Something Like your cloud. Its a problem. But the ibm cloud is different. Its the most open and secure public cloud for business. It can manage all your apps and data from anywhere. So it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. Without getting in your way. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. 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Maria welcome back he Technology Sector under pressure face of Global Pandemic several companies have a teleconference with wlooits to discuss Artificial Intelligence to combat coronavirus, twitter latest big tech to ask complez to work from home joining us Herbold Group managing director former coo microsoft, bob herbold tell us how that would work in terms of working from home sustainable for business what kind of cutback it is going to have that is not a permanent situation that companies want. They have to deal with it, to and the best of their ability they will work with it. But there is no doubt Human Interaction is required at times, in terms of pounding out decisions, and so it would be very interesting to to see how he evolves it can be difficult. Bob we have talked about this in the past i think, we have to remember that President Trump has completely changed the conversation on china. You know all of these issues that we are talking about every day, have been going on for dictates, over three different administrations, i am referring to intellectual property theft the fact china produces so many important critical products that u. S. Needs, lets look at pharmaceutical products antibiotics 70 active ingredients made in china all parts components that we use in ourcars, our phones our electronics made in china, you joined me, over a year ago we talked about the impact of intellectual property. Tell us your standpoints how much it costs microsoft a year roughly, about i mean not specific numbers roughly how much i have the costs microsoft the fact Chinese Companies regularly stealing microsoft intellectual property. If you go back to the world of floppy disks cds no doubt a problem for spry microsoft talking billions of dollars on the other hand. Billions or hundreds of billions . Maria no one can exactly tell you the impact of that, they can make rough estimates. But it is a very large number, i think what is important is to understand with being able to Download Software as a service basically. Subscription there is benefit from standpoint of relief into that equation one thing we cant forget look back at last 30 years you say wow, all this problem with china that described how has tech sector done in context of all thomas actually extremely well, the fact is weve weaved our way through a lot of problems we hope they dont exist in the future i like what is going on with government in terms of confronting these things, but lets not throw out the baby with bathwater, so to speak. Bob James Freeman from the wall street journal your old friend colleague bill gates is obviously, focused on this, and trying to do what he can in the philanthropic world to marshall the the fight against the disease, do you do you have a sense from him where that is going . I certainly i think like a lot of us probably have confidence that he is going to be helpful in finding a solution. Well i think we got great minds putting against this problem but it is a did i one in terms of these of speed. The issue is get with it. So that weve got something to combat this thing, and that is the challenge right now. So but no doubt weve got great minds working on it. Maria how quickly can we change supply chains bob . You have been at this a long time you have seen how Many Companies have been get everything produced in china now sort of opening up to ra realization not good idea cant rely on foreigners for important critical stuff. What do you think that would take in terms of timeline for companies to change operations move production elsewhere . It kind of depends on industry. In terms of hightech industry importantly, key parts components that go into the products. Maria right. It can be very time ask consuming you not only decide to move it youve got a lot of legal issues youve got a lot of training issues, with personnel. So difficulties in america, is the personnel, the Human Resource issue is much more difficult than in some countries where you see larger populations of people coming out of poverty, and china has done a great favor for the world in terms of bringing a lot of people out of poverty. And to some extent, countries like United States have taken advantage of that you never want to throw out put all our easing in one basket several Tech Companies are guilty of that. For sure bob thanks very much for joining us we so appreciate it. Bob herbold, waiting on february Producer Price index breaking news get to Lauren Simonetti has the number ppi right now lauren. No inflation last month maria, the there was decline, 6 10 of 1 prices that businesses receive for items it was expected to fall but fell much more. 6 if i look at yearoveryear number if you x out volatile food and Energy Category that rose 1. 3 1. 4 we are expecting 1. 7 , so obviously, demand is down and these numbers will look a lot sovieter when we get march numbers these are for february. Maria february ppi down 6 10 of a percent, much much worse than we expected, it was expected 1 10 of a percent could you say much worse it is much better if you are if you dont want inflation down 6 10 of a percent very good number no inflation on monthovermonth basis. Dagen yearoveryear up wholesale 1. 3 , 5 10 of one percent below expectations core core ppi up 1. 4 below expectations you kind of do want to see a little bit of inflation, here in yearoveryear. We still got that we will break weve got a market continues in the decline 5 mode not a major reaction at all from that ppi number, we are taking a break when we come back shakeup at a ups shipping giant replacing david abney with carol tome. Details behind the bid to take on occidental petroleum, stay with us. 13 while the world keeps fighting for your attention. Well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. And the technology ive been through two tours of duty, and luckily, i came home with my health. But what almost ended up taking me down. Was a stroke. I thought i was invincible. But its really humbling to face an enemy you dont see coming. Fortunately, life line screening showed me i was at risk. 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Tone seems a lot of people believe traders believe only getting worse before better but do believe there is going to be a rebound just that first quarter, or possibly seeping into Second Quarter will be a little bit rough for companies you see across the board look at one industry because of news from president airlines, you are seeing airline taking huge nosedive united delta taking pay cuts because of how revenues dropped precipitously carnival was halted this is a cruise line, halted 18. 35. Says news pending awaiting to see what will happen once that reopens, and we got news coming out of ups changing their ceo daibd abney replaced by carol tome with board since 2003 has experience was cfo at home depot. Abney will stay on as executive chairman and will be leaving september 30th, then last but not least i am going to talk about what is going on on New York Stock Exchange floor you know cme has closed, there is rumors right now possibly closed here right now you can access he cafeteria down stairs cant get food they are sanitizing everything discussion how are traders going to get orders because New York Stock Exchange has their own actual system here, that not all all other buyers owed of here operate just confusion how they are going to follow through withism something discussing. Kristina partsinevelos floor of nyse two u. S. Sold killed in iraq, Cheryl Casone with details there. Cheryl maria were killed in rocket ambush military base north of baghdad a dozen Service Members injured in this attack u. S. Military say up to 30 rockets were fired with 18 hitting the base Iraqi Security forces found truck rigged to would fire rockets found a few myself away used as training asphalt. Occidental petroleumacky for short plunging on news carl icahn set to take control down more than twvl thursday broader selloff the investor increasing stake in company according to the wall street journal move against it a critic of oxy 38 billion dollars purchase in petroleum called the for removal carl icahn has more control over oxy tiktok China Business has new bosses, saying chief executive of china operations taking over as chairman of this sprigs far within Company Founders saying going to turn focus towards lurl strategies aimed at fixing global issues facing the company, u. S. , carlos apologizing that National Team members had more responsibility higher level of skill, than the womens team womens world cup champs suing for equal pay protests, womens team warmup shirts insideout hiding crest of the Soccer League cocacola, deloitte con temperaturing comments not to point out but legal language mens players are superior physically, more Revenue Generating tournament pb thank you lawyers for writing that. Thank you turning to battle against coronavirus pandemic President Trump taking serious steps to combat the spread of the diseased putting in place a travel ban for europe that sclooudz United Kingdom since trading cargo exempt tennessee congressman medical doctor, chairman of the caucus, thanks very much for being here. Thanks for having me on. First, i want to ask how close we are to a vaccine, i mean look we are all gloom and doom every day, i know, now with this coronavirus we know the numbers are going to get up there, we know that were going to see 10 thousands of cases in United States within couple weeks we understand that how close are we to therapies therapeutics ultimately vaccine in your view . I think vaccine is a great question the vaccine studies trials got to trials in light speed less than 42 days. But will take probably i was at a briefing with dr. Fauci for this probably a near before that their putics may be a little different i think trials are going on right now, gilead pharmaceutical in china that has anti viral studied compassionate use for severally ill patients the other thing antebodies if you replicate that can use sooner than vaccine. O other thing about the severity of this, so educate is on what this is going to look like, because, i have been reporting on the air that these numbers are going to go to 10 tens of thousands hundreds of thousands cases in United States doesnt mean a death sentence not everybody is going to get severely sick what is going to be, sort of the average situation for americans should they contract coronavirus. First of all, i think americans doing exactly what they should i see more people washing hands than in my life things we should have been doing all along 34 million cases influenza every year in United States it is a flu like virus here sort of things that you can go if elderly over 70, he certainly over 80, risks way up if you have a problem lung zz smoker, diabetic you should isolate yourself should be away from large crowds. Younger people for some reason dont see this seems to affect them too much, if you are looking at people looking at mortality rates all that you have to look at sectors of age groups. , quite frankly, young Healthy People very low risk. People older have problems at much higher riv if you look at chinese data if you can believe it if you are over 80, and you have problems mortality rate my be as high as 15 i think you see that borne out in nursing home outbreak in washington state. Dagen problem congressman it is Dagen Mcdowell with young people might have it be asymptomatic transit to elderly person visiting a hospital or parent or grandparent i want to point out Scot Gottlieb leading on this despite the fact no longer fda commissioner former fda commissioner he said this. On twitter right now, businesses leading the way on mitigation social distancing filling void left by policymakers shutting down nba games not enough must be practiced in places large and small small gatherings, parties all should be postponed for next month or two he also talks about the need for these giant Clinical Labs to scale testing, lab corp quest disnot offics fill the void. I am a practicing doctor if i werent here would be seeing patients today what doctors railroad on the ground need are testing one of the things we called them short on we need clinical testing at the site, so if you bring your family into my office, i can quickly test you say now do not have coronavirus you have a cold the symbols are exactly the same you have sniffy nose, he is correct i saw states makes no the sense i agree with dr. Gottlieb social distancing works cleaning works all things work. Maria is it fair to say that if you are 20, 30, 40, 50, years old, about 60, perhaps, you could get coronavirus and feel you just have like flu symptoms then let it reason course through body you will be fine. Let me give you an example i have people i know of the princess one that i know in japan tested positive absolutely no symptoms, one of my friends who was on that boats wife tested positive 5 years old had no symptoms then not a sniffy nose we dont know incidents one of the things that happened in italy so bad, excuse me allowed travel to come from places infrequented of we can respond. European Central Bank Left Interest Rates no changed with waiting on stimulus ecb go ahead quick. Im wondering does it suggest given talking about elderly and people with particularly conditions is there may be a strategy of protecting them by isolating them from contact as opposed to sort of broadly shutting down, gatherings of people . I think i still think you do that because as we talked about, you maybe shedding advisers may be asymptomatic i think having folks lets stay in error you home come in little contact i think churches where i live need to rethink about whether they are going to have church this sunday or not i certainly would do that. I dont want to where over blow this because this epidemic will ebb and flow go away they do we know exactly how these things behave right now we want to limit the effect of it, and obviously, i am listening to your intro, huge effect on u. S. Economy. Maria yes sure is, quick before you go, once you have coronavirus how long would you say it stays in your body . You know we think about two weeks but also we think but i know this person i am talking to in japan right now still coronavirus positive after the 2 days. We leave 22 days. Thank you so much we appreciate it point out ecb moves no Interest Rate cuts but ecb saying they are going to provide additional stimulus this is pretty much what we expected, because, how much lower are they going go at ecb not a lot of room to rut triple digits at this point have not steen impact on markets steady down 1200 points where we are right now to studio steele Stuart Varney there preparing for show i know what you are looking at what a market. What a market, yes wleer actually going to cover it obviously, the sharp selloff coming but i want to pay very close attention to this social distancing. It seems arrived, not necessarily all of a southland but, clearly, social distancing is now upon us. I think it effects absolutely every american i think it really slowing down americas economy. In particular, we are looking at effect on sports, i mean youve got nba suspending rest of the season at least until further notice, baseball has problems, havent got season started yet youve got tom hanks wife rita wilson saying we tested positive for the virus this kind of thing coming right at every american it is very obvious that social distancing is upon us. Then youve got jetblue flights, out of jfk to florida last night, two confirmed cases onboard. They still got them off the other side without seeing a doctor that is the other passengers i am saying look social distancing is here, and that is the main factor in slowing down this economy, at the moment. Maria right. We are all over it. You know once you have, cases on a jet blue flight, how soon are you going back on jetblue airplane, you know what i mean like, yeah, it just sort of feeds on itself i know there are people on jetblue maybe i want to avoid jetblue that is there is a cycle, you know, to the Airline Industry and cruise industry as well i know you have a lot more top of the hour. You got it. Stuart varney, we have fox business alert princess cruise line announcing temporary pause of the global ship operations this will be in effect for 60 days no cruise for 60 days princess, 18 of cruise ships, any cries on water now extending beyond march 17 will be ended, the company says is most convenient location for guests shares of Parent Company carnival halted awaiting on opening of carnival that is the news we believe the company will confirm, coming up most pressing travel questions answered what you need to know before boarding next flight, do you want to travel right now stay with us. 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Maria airlines under pressure following President Trumps ban on most travel from europe o about domestic flights hit companies would i travel rethink vacations airlines easing up cancellation rules joining us to tell us what we need to know melanie, good to see you. Thanks for being here today, give us the impact of coronavirus on airlines so far. Yeah, airlines are responding, by issuing broad pretty much across the board American Airlines has really allowed traveling to change flights without penalty for flights during march also seeing a schedule travel through april. A lot of change without penalty typically what we are seeing from all domestic carriers right now similar policy in place, a lot of travelers change or cancel without penalty united a 1i78 policy fine print but generally to change or cancel right now. Is this really made easier now because typically you have to jump through 19 hoops right take flight 9 pm to be able to really get it done. Is it easier to get it done no i more than ever . Yeah so what is easier the waivers are very broad, and that is unusual we dont tshl see airliners issue blanket waivers say any flight anywhere, any time. You can change without penalty what is difficult that there is so much demand for cancellations changes travelers having trial counsel getting through to airlines anecdotally hearing of hourlong wait times on phone, and people are even having trouble looking online, so that is where there is actually difficulty getting through. If you take a flight now along with the virus risk you have risk wherever you are going maybe subject to restrictions in the future youve got this uncertainty when you can come back but if you are comfortable with those risks is this time where you see bargains in air travel. We are seeing cheaper flights a lot of airlines issuing sales in effort to is it stimulate demand get people excited about booking doing in this case they can to get people book being the waivers one example, the other the cheap flights, jetblue has i bet they do. Is it ultimately travels have to accomplish their risk decide if this is something comfortable doing, thank you. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology. Kinds of businesses go beyond customer expectations. How can we help you . There are no half measures. No shortcuts. No faking it. Doing it right is plan a and plan b. Kubota equipment is built to the same high standards you live by. Its up to the challenge. Halfton hay bale challenges. Herding cattle challenges. Thats a lot of mulch challenges. All day. All conditions. All year round. Kubota. Together we do more. narrator he loves monday through friday but lives for the weekend. Hes put some miles on his truck, and now its time for something new, so he came here and saw what other people paid for the same truck he wants. Now he can recognize a great price. It was so easy, chet was in and out and got right on back to the life he loves. True car. Buy smarter. Drive happier. Maria try to the heavens today. Have a great day, varney and Company Begins now. Stuart a somber president addressed the nation. He said, quote, this is a temporary moment in time we will overcome together. The president has ordered a 30 day ban on most travel from europe, that was the centerpiece of his address. He offered a 50 billion boost for Small Business and ordered 200 billion worth of tax d for all for businesses. But now giant stimulus package. This morning the selling
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