This. Listen. Our aggressive containment strategy here in the United States has been working. And is responsible for the low levels of cases that we have so far. However, we do expect more cases. I dont think it is inevitab inevitable. There say chance it could get worse it could get fairly substantially worse. But nothing is inevitable. Nothing is inevitable. The white house is facing a lot of questions now about how prepared the country is, and we hope to ask those questions today to the white house. And put those questions to the white house. The white house poulled a plannd interview this morning for a second straight day. And were waiting for a white house response as to why. Lets get started now with where we stand at moment. John harwood is at the white house. Dan simon is in san francisco. And julia chatterley is at the New York Stock Exchange for us. Lets start with julia. What are you seeing there right now . Were seeing everything you just described, playing out in real time here. The confusion, the uncertainty, were seeing u. S. Stocks now pulling back some 10 from recent highs, were down around 2. 5 in the session. I will mention just to be cautious here, we have bounced off the lows. But it is fear, it is uncertainty, that has investors once again selling stocks today. What happens in the United States and the response, the confusion that was created once again by that press conference. Two, i think Goldman Sachs came out today and said were going to see zero Earnings Growth in 2020 in the United States. I dont want to lose you in the weeds of what that ultimately means for businesses and for workers. The key point there is theyre making an assumption the coronavirus spreads throughout the United States. We also had Big Tech Companies like microsoft such a support to these markets also saying their businesses, their expectations are going to have to be revised lower too. Cnns own gauge of investor activity swings between fear and between greed in these markets. Today, it is registering extreme fear. And i do think the risk here, the biggest risk to growth and to the outlook is perhaps more fear than the virus. We do have to remember in the United States, kate, i know youll come back to this, just 15 people at this stage infected. We have to be careful of fear. But right now, investors today are selling. It looks like it will be a rough session. Back to you. So it is all wrapped up into it. Thank you very much. I appreciate it. Out to california now, dan simon standing by. What are you learning, what more are you learning about this new case in california . Hi, kate, we appear to be entering into a new phase here in the United States. This patient did not go overseas, did not go to a foreign country where the virus has been spreading. Didnt seem to have any contact with anybody who had the virus. So at this point, the source of the infection is unknown. And the question is does that portend that the virus could spread in a more rapid fashion. I want you to listen now to the doctor at the hospital in sacramento, where the patient is being treated. Take a look. We cant say there is definitely more. But i think it is highly suggestive that if there is one, there is probably more than one. There is probably other people. That suggests that the virus is out there in the community, and that means pretty much that everybody is at risk. We dont know who might be carrying it. We dont know who we could get it from. That other person probably exposed other people and have to realize that this virus is so new that none of us have any immunity to it. So anybody who is exposed is at high risk of getting infected with this. And one thing that is concerning is that the diagnose was delayed. Raising questions about whether or not this patient exposed other people to the coronavirus. Thats because the test did not take place in an expedited fashion like the hospital wanted. The cdc has very tight restrictir restrictions in terms of administration the tests. We have 80 people so far in the United States who have the coronavirus or who have got t the majority of the cases came from that ship in japan. Well send it back to you. Exactly right. Thanks so much. Appreciate it, dan. So, john, over at the white house, what did the president know about this new case when he took to the Briefing Room yesterday . He knew in general that there was a new case. He didnt know all the details. Alex azar had signaled in hill testimony there was another case they were still trying to get to the bottom of. What we have seen over the last 24 hours or so is an administration grappling with its response in a very evident way publicly. Clearly the white house knew the happy talk from earlier had not been working. So during the day yesterday, there was speculation, is the president going to appoint a czar for this purpose to coordinate and oversea the response. The white house denied on the record in the afternoon it would do so. Then we went into the press conference and saw the president put mike pence in charge saying it is not a czar, but hes going to oversee and coordinate the response. Alex azar, who had been doing so, was pushing back to that to reporters there. The president struggling to accept the level of mortality, not arguing with our sanjay gupta over sanjays point about the higher level of mortality for the coronavirus. Uncertain about how much additional money was going to be necessary from congress, uncertain whether there was going to be Community Spread as we saw confirmed after that news conference. And when we saw the dow futures dropping, during the news conference, that was a sign that the message was not inspiring confidence, we have seen that from the market today. And the danger is that if you get this fear that julia talked about escalating, you could have as we move toward a the potential for global pandemic, you could have the risk, heightened risk of recession that would make President Trump the first president since jimmy carter in 1980 if in fact we tip into recession this year. Mark zandi, the independent economist told me today, the odds of that now are 50 50. Yikes. A lot needs to happen, but a lot of things are happening quickly. Thats the whole thing about this whole situation. Joining me to talk about this, dr. Arborio for the National Security council during the trump administration. Also a former official with the food and Drug Administration and joining us dr. Lena wen of baltimore and visiting professor at gw school of Public Health. Thank you for being here. We have a million questions. We want to get to some viewer questions if we have time, which i hope we do. You have been talking about how Public Health officials have needed to be prepared for a wider outbreak. What is your big take than from this new case out of california . Good morning. This case in california, we have been expecting this to happen for the last few weeks, given the features of this virus. It is highly transmissible, it presents very similarly to other Infectious Diseases that affect the respiratory tract. So we always believe that we if were looking for the cases, we would find them. Now we did. One area that seems to be a big concern or where there is a glaring shortage in the immediate is the availability of testing kits for this specific virus. The last reporting coming from the government was that there were only 12 states and localities that can test samples for coronavirus now. That leaves the vast majority of states where . Thats right. Thats been a major source of frustration and a gap in our ability to do adequate surveillance and respond to this emerging pandemic. I think that every individual involved in the developing this diagnostic tests is frustrated with the situation. I spoke to individuals who are working on these tests recently and i believe that we are very close to having commercially available tests in clinics and hospitals, very close, but it is important to understand that it does take time to do the proper validation of these tests. They need the cdc needs to grow the virus, needs to propagate the virus, distribute the virus to developers in safe in a safe manner, so that process does take some time. False positive, falls negative do not help anybody. Dr. Win, a big part of successfully dealing with any Public Health crisis is trust. I was really struck that you started writing about this very thing in late january. What do you make of the administrations response so far . Well, youre right. Public Health Depends on public trust. It depends on the public believing that the government has their best interest at heart. And that the government is telling the truth. You know, i heard the press conference yesterday, and i think President Trump was trying to paint a rosy picture of what was going on. Thats not what we expect from the commander in chief. We want the commander in chief to be telling us the truth, to be open and transparent with us. The u. S. Response has been very strong so far, it has been effective. But this is a global problem. And there are now more than 40 countries where coronavirus is spreading. We are only have 15 cases in the u. S. Now. But we expect for the numbers to go up. We are ready, we are prepared and here is what were going to do about it. That actually projects the strength and the confidence that he needs as our commander in chief. But also gives the truth, which is also what the American People deserve. And dr. Borouboreio, some criticism out of the white house is theyre theyre cutting funding of the your position has not been filled since you left in 2018. Are you concerned that this is impacting the response . So i have to say that it gives me great confidence that our response at its heart is really conducted by career individuals, physicians, scientists, some of whom with the president yesterday, and the briefing, who have a wealth of expertise and decades of experience in managing these types of situations. This is a very serious situation. Nobody can be fully prepared to counter it. It is very challenging. What i want the American People to know is that there are incredibly experienced individuals at the cdc, at the nih, at the fda, and throughout government who are extraordinarily dedicated to this issue and are supported by dozens and dozens of experts with wealth experience. I am confident in our ability to address this challenge. Do you think the administration, the white house will be better served if they had someone, look a dr. Boreio in the position you held . I think every white house needs to organize its house the way it sees fit, and each it is difficult to draw, you know, a conclusions from prior experiences because each epidemic is very unique. But, again, my job there was actually made much easier because of the type of experts that i was able to rely on, day in, day out, as i did my job. So dr. Wen, let me get to some of our viewer questions. We have been getting thousands, tons of questions coming in from our audience. Wapt i want to tick through some of them. Here is one we heard a lot about, should face masks be used or are there better ways to protect ones self if the virus becomes widespread in the United States . Dr. Wen . Great question. Face masks are effective and should be used by healthcare workers. But there is no evidence showing that theyre useful for everyday people. Actually what is much better as a preventive mechanism for every person is hand washing, wash your hands well with warm soap or warm water and soap. That will reduce 50 to 60 of infections. And dr. Wen, also this, here is another one we heard a lot from folks, do people who got the flu shot this year have any better chance of not getting coronavirus than those who didnt get a flu shot, in addition, if youre currently sick, does this make you more vulnerable to the virus . The flu, influenza is a separate virus from coronavirus. And so getting the flu shot does not protect you from getting coronavirus, but it does protect you from getting the flu. Which is important because there have been tens of thousands of deaths from influenza this season in the u. S. It is not too late to get the flu vaccine. Get it now if you have not already. If youre older, have chronic conditions, also get the pneumonia vaccine as well. It is true that you are more likely to get sick in general if you have other illnesses too. So if you are already sick with the flu, maybe you could have a higher chance of getting coronavirus and vice versa, thats why it is important for all of us to protect ourselves and our families do basic things like hand washing, stay home when youre sick, dont be aarou around others. It seems everyone is looking for something new to protect themselves from something new but it is getting back to the basics. Dr. Wen, dr. Borio, thank you for coming in. Coming up for us, a new warning coming from Goldman Sachs about the longterm impact potentially of the coronavirus on the year ahead. Well bring that to you as we continue to watch the dow. And later, Elizabeth Warren makes it very clear, shes in the democratic primary until the bitter end. What does her new message mean for the race. At todays best western, stay two nights and get a free night for your next stay. One night, two nights, free night. Book now at bestwestern. Com. Free night. B11 is that . Steve harvey . Give me b11 isnt bingo just an ok use of your hosting abilities . Its like getting a Samsung Galaxy s20 5g, and not getting it with at t. Bingo no, i only called out two letters. Now, you might have go, you could have bi, but you cant have bingo. Get the most from your revolutionary Samsung Galaxy s20 5g. Switch now and get one free from at t. Building 5g on americas best network. A former army medic, made of the we maflexibility to handle members like kate. Whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa were following another steep plunge for stocks on wall street. Today, right now, the dow is down more than 400 points at the moment. It is the sixth drop in a row for u. S. Market s amid rising fears over the coronavirus. Joining me now, with much needed perspective on this, rana faruhar. I want to start with the warning from Goldman Sachs, putting out a warning to investors today that u. S. Companies are going to generate zero no Profit Growth this year due to the disruption of the coronavirus. What does that mean . Thats very bad news, because it Means Companies are not going to grow profits, not going to hire people, theyre hunkering down. When Goldman Sacks puts out a warning like this, they dont do it lightly. A lot of people including goldman are saying, look, this could be the thing that tips the economy into a recession, not just an market event, but an Overall Economic event and this is happening in advance of november when it really matters. It is really wild timing because as you mentioned, in the report, it also says a more severe pandemic and more prolonged disruption could lead to a recession. We have been talking about signs and signals of a coming recession or correction for a long time. How much of a game changer is this virus, is this Public Health crisis . It is interesting. This is almost the tailwind that the markets needed. They were already so jittery, ready to tip. It could have been anything. Could have been more conflict with china, could have been recession in europe, it could have been a terror event. But it was a pandemic. We didnt know that was going to happen. I think what makes this really severe is not just the fact we dont know how bad it is going to be yet. This is much more infectious than sars, higher death rate, were not sure changing rapidly. Changing rapidly. The president didnt calm the markets by saying everything is fine. Thats not what Health Experts are saying. The markets are reacting to that. It is also emanating from china and now in the u. S. And the u. S. china relationship is the most important Global Economic relationship. This is something im keying in on, and you have spent a lot of time covering the chinese economy and the economic relationship between the United States and china. And the fda said on tuesday that the outbreak will quote unquote likely affect the medical market supply chain. Things ive been looking into this morning, according to the fda, china ranked second among countries that exported drugs and biologics to the United States and first for medical devices. The supply chain is a real concern for critical things. How serious is this . This is so serious. This is the mid to longterm story. I think that if there is a Lasting Impact here, aside from recession, it will be decoupling. We have been talking for a long time about how the u. S. And china are going in Different Directions economically. We had a trade deal. A lot of companies in the mitts of this virus have been moving production to vietnam, to mexico. Now i think youre going to see that speed up. The problem is that those countries cant take all the overlap from china. China has been the there is not a shortterm fix to this. Which means more costs. For a small, small perspective on what were talking about here, i say drugs and biologics, according to the Commerce Departm