Now. Maria we want to check Global Markets this morning, european indices all over the place this morning following the u. S. Central Bank Stimulus package. London shut down, some of the mass transit lines in an effort to contain virus. Ftse 100 is down 12 points right now. Dax index in germany right now up 21. In asia overnight it was red across the board. Take a look. Korea getting hard hit down better than 8 overnight in korea hitting levels not seen since 2009 even as coronavirus cases are dropping in korea. As you see the other majors are also weaker. Lets check the oil markets now. Seeing a rebound this morning after 18year low. As you see oil prices bouncing 250 a barrel at 22. 87 a barrel. Yield on the 10year treasury hovering above 1 . Yields are bouncing once again 1. 92 on 10year. Investors certainly gearing up for another wild day this morning in terms of volatility. Lets check futures. We are expecting another tripledigit decline. The nasdaq is down 35 and s p 500 weaker by 30 after the dow fell nearly 1400 points yesterday. 1338. 1,338 on the dow lower yesterday. The nasdaq 345 and coronavirus pandemic global impact. The latest Central Bank Action and we continue to see all hands on deck. Ecb launching 820 billiondollar bondbuying program and Australian Bank cutting Interest Rate. Joining the conversation Dagen Mcdowell, host of the secrets of wealthy woman podcast veronica is here and former republican president ial candidate himself steve forbes. Good to see everybody this morning. Dagen, all hands on deck this morning. Jpmorgan cutting forecast for the gdp. Sharp contraction, 14 . Dagen this is way steeper drop than what we saw during the Great Recession in 20082009. The worst drop there was contraction of 8. 4 . These are like it or in the depressionera contractions and the reason that we are seeing that is mass layoffs all of a sudden. If you look at state by state, you have had 78,000 people in ohio in the last 3 days file for jobless claims. In the state of connecticut its been 30,000 new claims since monday. We can go state by state but its the front page of New York Post today, mass layoffs begin with danny meyers, they have decided to layoff 2,000 workers. We have jobless claims at 8 30 a. M. Eastern time. You literally will have millions of workers out of work all of a sudden. Maria unbelievable. Steve forbes, now youre looking at what has been a very Strong Economy to quickly completely reversing course, millions of americans left without jobs, more stores, businesses facing the coronavirus shutdowns, steve forbes, whats your take on all of this . Steve the take is so far washington is not come up with a big cures for businesses. They are facing severe cash crunch and what the Federal Reserve has done and what the other Central Banks have done in reducing Interest Rates are irrelevant. What the fed must do expend to commercial paper and make it clear and industry knew real. Any company that comes in before the crisis can get an emergency loan now. Next week, not rely on congress but do it now and for smaller businesses, tell regulators back off on covenants. Tell banks that Small Businesses who were solved before the crisis, make emergency loans now, tomorrow, not next week but now. So far they are not responding so severe liquidity crunch. Youll see a lot of unnecessary casualties big and small if they dont get off and respond to specific conditions, not what happened in 2008. They have to get that now. Maria yeah, what about treasury, what the fiscal stimulus is coming out of the white house. Theres an argument that they are irrelevant. What do you want to see from the mnuchin camp and the white house . Well, in the mnuchin side you should urge powell, the chairman of the Federal Reserve to move on that. Powell, if he gets permission for mnuchin can set up facility to make industryloans right away. The other thing they have to do is realize that individuals have problems too in terms of cash, so its good they are going to do that cash payout in april or may and the other thing mnuchin should be pushing for is payroll tax holiday between now and year end. That does two things, one it helps people who are still employed but also helps cash flows for businesses by reducing the payroll tax, reduces the cost of labor by several thousand dollars and they say, a lot of money. 8 billion. Already as you can see, 2 and a half trillion, 3 trilliondollar lost in gdp on an annual basis. Bond market now in trouble as well. Maria unbelievable. 7 trillion. Do it now. Maria unbelievable. Trump should make maria what were you saying, steve . Steve i think trump tax holiday and nationally address we are doing it now and they can go around congress im certain getting money to businesses side and mnuchin should be calling the regulators. Tell the banks be free on lending to solvent businesses. Maria understood. Veronica, steve just said it, 7 trillion in market loss just in this is a handful of sessions. 7 trillion in a couple of weeks. Veronica its staggering, maria, when we see the jobless numbers today we will probably see more selling. The selling that we have seen, the majority of the selling has been professional investors getting out of their positions, moving into cash in a big way because nothing else feels safe to them. When we see the jobless numbers we may see selling amid Retail Investors and individual investors because we look around you and everyone knows someone who lost a job. You will start to look at 401 k if you havent already and might be getting pretty nervous. Maria yes, so far individuals have been longterm believers and we havent really seen them dump, we will see about that. Now to the latest of coronavirus. Here is what we know, the numbers of cases have doubled in new york city. Jump coming as major bill de blasio and andrew Governor Cuomo are not seeing eye to eye on possible shelter in place. That order coming from de blasio yesterday. Cuomo pushed back. The president said yesterday hes asking fda to cut the red tape, reduce regulations and new developments will be announced today. That is why he wants to fast track drugs through the fda. Signed a 100 billiondollar aid package providing more emergency paid leave and free testing. Two lawmakers testing positive for coronavirus, republican congressman Mario Diaz Ballard an Democratic Congress ben mcadams. House minority whip scalise and two others said they would be selfquarantining because they had been in contact with one of the infected lawmakers. I will be speaking with congressman Steve Scalise. Dont miss that. Amazon worker at a facility in new york tested positive for coronavirus, the employee works out of queens facility known as dbk1. The case marks it first for worker at u. S. Amazon warehouse. At least 5 workers in europe have also tested positive. Las vegas air Traffic Control tower is temporarily shut down after controller test positive for coronavirus. Faa says the division to close was made to ensure a safework environment for controllers and for technicians. A lot of changes this morning. Things are moving fast but we will slip in a short break, President Trump signing into laws 00 billiondollar relief package to fight coronavirus outbreak after secretary mnuchin warned inaction could result in unemployment of 20 . Oneonone with secretary mnuchin today, 8 45 a. M. Eastern. Dont miss the interview. We will find out what is next for the administration. We will find out in 2minutes time. Dealer. And take delivery at home. Its just our way of doing our part. Sure, principal is a fibut think of us as a 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, markets under pressure once again today. Major selloff extending this morning. Dow industrials pushing below 20,000 mark yesterday. The lowers point in trump presidency. This coming as the Federal Reserve and global Central Banks have announced more measures to help offset the Economic Impact of coronavirus. Joining us right now web bush security managing director daniel, dan, thank you very much for weighing in this morning. With all of this kitchen sink being thrown at the markets from global banks across the world, why arent equity markets reacting positively . I mean, right now the worry is demand. I see it across landscape. You look at Companies Like apple, microsoft, tesla. The worry now from investor perspective just what numbers would look like in the next 3 to 6 months and right now youre seeing baby thrown out with bath water. Maria target on apple was lowered. You have been also turning less positive on apple, obviously, what kind of a profit story are you looking at for apple for the rest of the year as it struggles to get stores back open, to get the China Business back running at the capacity it was. What are you expecting . Well, its really a perfect storm for apple because obviously theyve seen it in terms of the supply chain in china and ash asia, we are stressing our numbers. When i look at apple right now we lowered numbers by about 15 for iphones. What we really view right now 350 million of 925 million iphones worldwide. We are assuming that no one buys an iphone over the next 2 years. Thats already upgraded over the last 2 or 3 years. When you stress test the numbers. I think thats how we have comfort still being bullish with these prices even though the demand store has changed. Maria let me bring steve forbes in here, steve, its not just apple. The list of companies that have closed their doors, you know, earlier, what, over a month ago you had 3 major banks say there will be in Profit Growth in the first half of the year for the s p 500. Its looking more and more like beyond the first half of the year, steve . Yes, it does, thats why shortterm we have the Keep Companies alive and keep individuals alive, for example, mnuchins idea of sending out checks to everyone, i think thats a good idea. They call it a lifeline. Help people pay mortgages and pay the bills. This is to keep people alive until this virus crisis is over and businesses can start to operate again. I think what the markets are looking for what are we doing to have the infrastructure of this economy survive and not go into bankruptcy, saving individuals, not only from the virus but from bankruptcy. Thats why whats happening with apple. Maria yeah, youre right. Sending out the checks . To steves point, i think right now the view from an investor perspective they are down 2,020 numbers. Right now getting through the next 3 to 6 months and on the other side then you start to see the strong companies, theyll get stronger and rebound but right now from investor perspective you need to have trickledown effect. Next 3 to 6 months. So when we get on the other side to a more normalized environment, new normal, you can start to do valuations on 2021. Maria you will not get this kind of guidance, go ahead, steve. Steve if the companies especially companies that are debt or shortterm debt need, stocks have been truly hammered and if you give them a lifeline through payroll or payroll holiday, i think the stocks will be be booming in latter part of this year just because markets anticipate the future. Right now markets looking at the idea that a lot of the entities will go down for the count. Maria you are counting on a secondhand recovery. Go ahead. Dagen i was going add one issue that people need to Pay Attention to, youve actually seen yields on treasury debt because theres been a rush to cash and people have been selling everything. The yields on treasury debt have been going up. Begs the question the more money the company borrows, do yields go up and up and will send corporate yields up and so then the crisis, it takes a lot more money and a lot longer time to solve it. Thats why you need the Pay Attention for shield yields here. Maria you know, i havent really but obviously this is an issue that will come home to roost, steve. You know, dagen points out the obvious issue with all of the stimulus, where is this money coming from . Steve theres still assets out there but i think if people feel that the economy is not going to have unnecessary wreckage out there, i think the the borrowing will be able to be done at reasonable rates, but when you see the gold price collapse as it does, that means people are desperate for cash and thats what the fed has to realize. They need to cash now. Maria so they are desperate for cash and you get that because they are even selling gold is what youre saying . Okay. Dan ives, thanks for weighing in. I know that you have gotten negative on tesla after decline. Tripledigit decline and in the last few minutes things have worsen. Dow futures down better than 400 more mornings with maria right after this. Good morning oh no, here comes the neighbor probably to brag about how amazing his Xfinity Customer Service is. Im mike, im so busy. Good thing xfinity has twohour appointment windows. They have night and weekend appointments too. Hes here. Bill . Karolyn . Nope no, just a couple of rocks. Download the my account app to manage your appointments making todays Xfinity Customer Service simple, easy, awesome. Ill pass. 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 welcome back, coronavirus closures, the most significant names in the American Auto industry, ford motor, gm, Fiat Chrysler, all announcing they are halting production in north america. Simon property groups shuttering the doors of 2009 nationwide malls in order to halt the spread to have disease this adding to the growing list of retailers that have already closed down or reduced hours as temporary measure. Youve got industry after industry, veronica, either closing or making lower hours and essential certainly youre seeing layoff increase. Veronica its staggering, maria, we would have never imagined this 3 weeks ago even and the effect on the american worker. Folks need that money and i Hope Congress gets it together and passes this soon, whatever the final bill is. Thousand dollars, 11,000 per family families. People are going to need to pay the rent, pay utilities to feed their kids. This has become a desperate situation for a lot of people who work in a lot of industries and its a scary time. Maria yeah, so are the rules of the road, dagen, just put aside at this point. You know everybody is going to want money, everybody is asking for some form of a bailout, but then again we are in an emergency moment in time. Dagen to steve points, something that we have been mentioning earlier something talked on the program all week that editorial page layed out clear as day about preventing a liquidity a greater liquidity problem and even in solvency among businesses and it should run through the Federal Reserve. The Treasury Department gives the fed permission to set up a new facility under section 133 to provide financing to otherwise healthy businesses. They could put up collateral, you immediately get loans directly to businesses in airlines, leisure, hospitality, retailers, all of the industries that are laying off literally hundreds of thousands if not millions of people. This is the quickest way to do it because if it runs through congress, youre going to get strings attached. It becomes politicized and that will take longer, it is not theyre not asking swiftly and in a targeted way and thats one of the reasons the markets are panicking. Maria yeah, steve. Steve well, thats right, revenue disappears, dramatically done here, you need money right away to stay keep keep going and thats why im a little surprised that that hasnt been more active in terms of setting up facility and making it clear. Anyone who comes to that window of collateral will get the loans right away. You put above market Interest Rates to make sure when the crisis have subside, they pay the loans off quickly but they need the cash, its like food. They need the cash. Theyll starve. Yeah. Say it again, steve . Steve i think that was overexaggerate and if you take these active steps very basic, get that liquidity out there, we will get through this crisis and we will get through the virus as well but what we need time and in the meantime we need cash to these people. I Wish Congress would stay away from trying to do social engineering. They are about to slam Small Businesses with new regulations on things like that. Save that for another time. Right now get the cash out there. Maria yeah. All right, lets take a short break, we are looking at a market thats down 400 points at this point, coming up at 845, i will be speaking with treasury secretary mnuchin about all of this, what is being done to help businesses get money back into americans pockets, direct from the treasury secretary. Younger americans are at risk of contracting the coronavirus. We have the details of whats changed. Stay with us. O commission for online u. S. Equity trades. Actions to help prevent the spread of respiratory diseases. Wash your hands. Avoid close contact with peopl