So we could really use any of these measures as President Donald Trump said hes not considering a National Lockdown but is limiting nonessential travel on the u. S. And mexico border summer of the one taken with the u. S. Canadian border. Were working with canada and mexico to prevent the spread of the virus across north america very closely you heard what we did yesterday with canada is a joint comprehensive effort in collaboration with our neighbors. To measure and all of those measures that were putting in place will protect the health. A little 3 nations and reduce the incentive for a mr lobel migration that would barely deplete the Health Care Resources needed our people and so we are working very closely with mexico very very closely with. With canada and the relationship has never been better world working for the same toward the same goal. And new york is also taking more aggressive measures asking for all nonessential workers to stay home as cases climb to more than 7000 stating that businesses that are not in compliance will be fide california the nations most populous state with nearly 40000000 people has also ordered its residents to stay home unless they need essential goods california was the 1st to employ them and mandatory statewide restrictions this could have a great economic or cause great economic disruptions to put it into perspective if california were its own nation it would be the worlds 5th largest economy approximately 50 percent larger than anneliese. And markets around the world are continuing to face turbulence as weve talked about as Central Banks and governments look at what can be done to mitigate the effects for more on the latest Economic Impact of the covert 19 pandemic we bring in coverage with jim buss cohost christy i and ben swan but i want to start with kristie lets start with what is going on in markets on friday after just a hugely wild week kristie whats going on here. And despite the fed and the e. C. B. Implementing its biggest asset purchase week ever the u. S. Equity markets refuse to hold a bid lower and lower highs every papa sold off thats going to be the running theme for the next few months until we get a catalyst to either side futures had a limit up in overnight trading but the gains were quickly faded as we swung between small gains and losses friday only to accelerate into further into the close with the dow now and in the week down over 16 percent but the sell action today is needed as quad witching friday has crushed ball and essentially ended the mechanical sell now Going Forward the fed reserve is likely to boost its treasury purchases beyond the 500000000000. 00 stated by now in addition to treasuries and m. B. s the fed has also expanded its facility to include new bonds now this is a move that they have never played during the 2008 financial crisis so the question is how long before they expand the facility to include corporate stocks and bonds like japan now over on the fixed income side we have reported 2 weeks ago on fallen angels when debt has been reduced to junk status while bloomberg has just calculated that the amount of distressed debt in the u. S. Alone has doubled to half a trillion dollars most of it does come from us Shell Companies have been beaten down by the Falling Oil Prices and more are expected to come out of retail and travel industries within the coming months and as gold and other Precious Metals are getting sold off bitcoin is rallying once again up nearly 4 percent tonight at 7000. 00 so thats a 90 percent gain in just a week as the as a turnaround from its deal. Bridging panic drop momentum on decline built up following fresh announcements obliquity printing by the Central Banks which added another 356000000000 to the Balance Sheet so as pile when called oxygen i stated quote bake wine is not a hedge pandemic it is a hedge to ffion regine now kristie i want you to hang in there for just a few minutes because were going to bring you back for more of your expert analysis. Now the coronavirus shutdown has left employees in hundreds of different sectors without work and in many cases without paychecks as a result hundreds of thousands of workers have been applying for Unemployment Benefits in fact the Labor Department reported thursday that 281000 people applied for jobless benefits just last week up 33 percent from the week before but some companies are not choosing to not lay are not just to lay off workers and instead placing workers on unpaid furloughs which means no paycheck and no employment this is where we bring in boom bust cohost ben swanson ben thanks again for joining us today now Marriott Hotels has made the decision to close some of its hotels and furlough workers without pay now the company says the Positive Side of this is that workers could still receive Health Care Benefits is mary out doing the right thing here. Why i think its a tough question whether its the right thing i think if youre an employee who getting furloughed its pretty frustrating thing right now because keep in mind youve got general managers housekeepers and and staff all in between who are being furloughed right now but no executives at mary out of being furloughed and at the same time you know when you get this furlough youre essentially told youre still an employee youre not unemployed and so a lot of these employees believe that they cant go and and collect unemployment at this point and thats pretty frustrating for a lot of people because while healthcare is nice its not going to put food on the table tomorrow or this next week or over the next couple of months and who knows when these people get back to work and meanwhile many restaurants and even some hotels are moving employees to 0 our schedules instead of laying them off again does that prevent these employees from being able to get Unemployment Benefits as well. So it actually doesnt a lot of employees believe that it does so what happens is instead of being fired or being let go you are given 0 hours for the week the reality though and and for those who are watching right now if youre an employee and youre saying look my boss has told me that im getting 0 hours this week or im going to be one of those marriott employees who for a load understand this that a lot of experts are saying that you do not have to be unemployed to go down and get unemployment and to file for Unemployment Benefits a lot of employers are telling their employees you cant get it because youre not being let in 0 revenue coming in from your employer to be eligible you dont have to not have a job so if your employer is telling you you have 0 hours this week you can still go and apply for Unemployment Benefits and a lot of by the way brant employers are telling their employees you cant go get this dont listen to them theyre not the one who makes that final decision the final decision comes from the Unemployment Bureau and so you need to go down there and file if you have any questions about it and this is definitely an interesting aspect which you have to keep an eye on as more of this comes out i want to shift gears to another issue and bring back christiane here to be part of this discussion there is a report that 4 senators sold stock shortly after a january briefing in the senate. The corona Virus Outbreak a loading shares that plummeted in value a month later as the stock market crashed in the face of this Global Pandemic now according to the hill senators Kelly Loffler of georgia james inhofe of oklahoma Dianne Feinstein of california and richard burr burro of North Carolina each told hundreds of thousands of dollars in stocks within days of the Senate Holding a classified briefing on january 24th with President TrumpAdministration Officials on the threat of the corona Virus Outbreak so ben what can you tell us about these stock sales. Yeah its pretty sketchy to say the least look at this Kelly Loffler who by the way is a senator right here in georgia where i am right now she is maybe the most egregious in this in terms of at least the appearance of impropriety we dont know that there was but it there certainly appears to be she sold at least 355000. 00 worth of stocks that was from january 24th until the 31st she and her husband who by the way is also the New York Stock Exchange sold 890000 stocks from february 5th to the 14th in all she sold she and her husband sold between 1200000 and 3100000 worth of stocks and all of that kicked off the very day she began selling the very day that she and the City Committee that she is on had a private briefing from the c. D. C. About the coronavirus and then she tweeted out that same day saying hey nothing to worry about folks there shouldnt be panic democrats are trying to scare people but dont worry president has everything under control meanwhile she starts selling now shes saying and i like christie speak to this part shes saying that she doesnt do this herself that she has 3rd parties that do it and shes not responsible for it at all but its not just her its also as you mentioned Richard Berke on the Intelligence Committee he sold between 581001 point 5000000 in publicly traded stocks after getting his briefings he sold it but he didnt buy a single stock during that time and by the way there is something called the stock act he actually opposed that back in 2012 now kristie for their part the senators there saying that the sales were made without their knowledge in the case of loffler she says the Investment Decisions for a portfolio are made by multiple 3rd Party Advisors without her husbands knowledge their same blind trust gets brought up a lot does that reasoning actually make sense to you. It does make sense because a lot of people and in positions of power as if youre a Legal Defense attorney or if you are a senator and position of Insider Information it is a fact that you actually do go through. A white notion such as this when you could. Being accused of Insider Trading having insider knowledge so it is it is a fact to be but to think of not however the fact that they actually then went out to reassure everybody and they their actions spoke opposite of what they were telling the public so that kind of while its not Insider Trading it is sketchy to say the least and if they were not and if they were actually doing something against what they were personal many. Believed to have done then that is something to cause an investigation for us cohost ben swan and kristie i will get definitely more expert in else from you thank you so much. And as weve been talking about all week Global Markets are still mostly reeling from the Economic Impact of the kobe bryant teen pandemic so lets take a look at where things that add up this week in moscow its actually one of our few green arrows in the week things looked rough for the Russian Exchange heading into friday the index was up 5 percent on friday alone so kind of bounced itself back aeroflot the airline again roughly 10 percent at the end of the week but its still down around 40 percent year to date now markets throughout asia theyre down all across the board on the week shanghai the shanghai composite was battered as western markets took big hits earlier in the week falling nearly 5 percent the index did end the week strong led by gains in the Consumer Sector although Investor Sentiment is up as beijing is getting ready to release trillions of you won in stimulus in hong kong the hang seng is down 5 point one percent for the week again having a rally on friday making up 5 percent of the previous losses again the stimulus measures seen throughout the world helped push things up near the end of the week and japans nikkei is down on the week and its hit 52 week lows and thats a trend were seeing quite regularly lately in moving to india the sensex is also down on the week but made positive moves on. On friday regaining more than 5 percent of losses amid hopes of a stimulus package from the countrys government state run oil and Natural Gas Corp saw a nearly 15 percent spike on friday alone moving to australia a. S. X. Also down on the week earlier in the week the index fell by 6 percent falling in line with the rest of the world and moving to south africa the all shares is also doubt but did see some gay is saw bounce on friday after the south African Reserve bank announced additional emergency liquidity measures to ease some of the concern from the banks caused by this pandemic now i want to take a little bit of a walk to the other side of the studio and were to take a look at western markets where were seeing a lot of these same trends in europe its a bit of a mixed bag between red and green arrows in france the cac is actually up and after seeing a 15 percent decline last week thats a big move measures by the European Central bank to stimulate the economy made a big impact here in germany the dax fell 14 percent last week its up as well a troubling week but closed up nearly 4 percent on friday on the back of stimulus hoax now theres still a lot of concern here data released this week shows Business Sentiment in germany poland adding facing the biggest drop since 991. 00 the footsie in london also down london was not able to break even on the week after the bank of england announced another surprise Interest Rate cut on thursday so lets go ahead and cross the atlantic to the americas brazils ebo best but also down after taking a beating early in the week as Oil Continues to struggle pressure across is down 7 percent on the week the oil iron ore sector also slipped quite a bit lets move north to mexico where the b m b is down on the week as well Credit Suisse this week up projections of mexicos Economic Growth saying they see the economy shrinking by 4 percent in 2020 very bad for that countrys economy. Here in the u. S. All major indices are down despite an early rate cut by the Federal Reserve and trillions in repo injections having the worst day this week in nearly 30 years and finally the ts x. Also down the comp closely down after doing its best to rebound from the massive losses earlier in the week in fact on thursday the last 8 per cent pushed down as the canadian oil fell to its lowest level of record so theres a lot to look forward to moving into next week and that is your Global Market walk now time now for a quick break but hang here because when we return amid the coronavirus the developments in the u. S. Embassy a trade agreement have fallen to the wayside we take a look at the future of the north american trade and how the pandemic has slammed the auto sector and as we go to break here the numbers today is that close. Im going to fulfill repeated promises oh politics to the people i promise to be you know its all bots to. Be. Pretty. Pretty good. Now you want to 1st. Know. The last 10 or 15 years weve moved to an era of big data where so much from our reality and our environment in our society is governed by experts interpreting data and now thanks to corona virus this is all being stripped away its all nonsense the krona virus is now bringing back to america some intuitive sense of selfreliance is going to be difficult and just dont dont get you. And detroits big 3 automakers have temporarily closed all u. S. Factories as businesses and citizens do their part to control the spread of the kobe 1000 pandemic now Union Leaders and members called for the closures to protect workers beyond General Motors ford and fi at chryslers closures toyotas and nissan said they would also shutter their north american facilities the move comes as auto sales worldwide have but nearly ground to a halt analysts at r. B. C. Capital markets believe the pandemic could drive global auto production down 16 percent this year due in part to an expected 20 percent decline in sales in 2024 more on this lets bring in the car coach lauren fix was always going to give us expert analysis on this particular subject and many other lauren i want to shortchange you here lauren lets start with the downturn in auto sales at this time we have no idea how long this pandemic will last and how long these social distancing controls will go on how bad is this expected hit for the Auto Industry. For the Auto Industry on global basis were looking at a huge impact with every single manufacturer pretty much shutting down production were not just talking about high end cars but everyday cars weve already seen a huge negative downturn when it comes to china theyre off by about 80 percent so far for the