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 EditorJames 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. Plus coming up the power of streaming, we are taking a look at Global Entertainment market. The numbers could surprise you. Stay with us. My body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com you dont just own horses. You own a pasture. A barn. And hay. Lots of hay. You need a tractor built to get every job done right. The kubota l series tractors. Our Retirement Plan with voya gives us confidence. They help us with achievable steps along the way. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. 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. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. [ fastpaced drumming ] some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Today i say to the democratic establishment, in order to win in the future, you need to win the voters who represent the future of our country and you must speak to the issues of concern to them. 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. J