And volatile session the. 5 rate cut by the fed morning doing little to calm markets. Maybe exj rating the selling dow giving up half of mondays gapes at the end of the day down 785. Keep this in mind. The dow is now down 3,500 points from highs of less than a month ago. Stocks of course a story but the big story of the day was the bond market. Holy smokes. Bond yields continuing to fall on the 10year, in fact the freefall at 2 00 p. M. Eastern time at 0. 99 . The drawing is not good but you get the point. Under 1 on the benchmark 10year note we have never seen that before buyers not just coming into bonds, also flocked into gold and the gold mining stocks the precious metal up 3 the miners even more the gdx, a gold mining dpks index up 5 today. If you tuned in last night we hope you did everybody around the desk said they were not buying into the gains. In fact, guy adami i believe you said well rally to the 3,500 on the s p 500 on fail you nailed it what do you think of the markets n
And a thousand times a day without thinking about it. At least thats how it feels right now. The inevitability of this outbreak is starting to sink in. What does the fed do it gives us a rate cut a 50 basis point rate cut. Reaction hey, condition rate cut. And it was a resounding texas hud. Ultimately the dow fell 786 points and 2. 189 so why did we get that illnesses, cancellations and this epidemic and im beginning to feel just in what has just been cancelled the emails that i get and the notes from Different Companies that is a shutdown it doesnt change that its not a cure. Its not a hazmat suit or respirator it does absolutely nothing to impact the spread of the virus it somehow boosts Business Confidence i did care about the rate cut. I cared about how wrong it was its totally a sign of the panic from the fed. And a rate cut i say this as someone thats been addiment that easy money is a good thing im probably the biggest single proponent of lower Interest Rates on the entire spect
The virus. The governor says the cdc is sending california substantially more testing kits. 10 cdc workers are on their way here to california as date officials will open more testing sites for the coronavirus. The governor laid out new numbers. Right now, there are 28 confirmed cases of coronavirus here in the state. 8400 people that recently traveled to china are being monitored. There is also the mystery case, the first of the country, of a person contracting the virus from an unknown source. The person is from Solano County, and is being treated at uc davis medical center. We have team coverage. Rob roth is learning more about the woman. We are looking for efforts you may have had contacts with her. Reporter we start with tom, live from uc davis with more on the announcement today from governor newsom. Reporter if the mystery will be solved, it will be solved right here at uc medical center. Because of the unusual nature of the case, it is fair to say that the battle against corona
Reporter Lauren Anthony where she heard from the governor. Reporter thats right. Im actually standing outside the uc davis medical center. This is where the Solano County patient is being treated. It is the first confirmed case of transmission from an unknown origin. It sounds alarming. But the governor said it wasnt a matter of if but when a case like the would come along. Their the case yesterday are understandably gentle rated a lot of attention but didnt surprise anybody standing here. Reporter Governor Newsom tried reassure an anxious public in the wake of californias first confirmed case of coronavirus covid19 with an unknown origin. We knew this was inevitable as it relates to the nature, the epidemiology, the nature of these viruses, that incident would occur. Reporter Little Information is being released about the patient from Solano County but currently in treatment. Shes a female who was out in the community for several days. She was not in contact withist in evacuees isolat
With quarantine patients without training or gear and then left travis and went out into the general population. Good evening. Travis air force base is in Solano County. The location of the first confirmed case of coronavirus with transmission of, as they said, unknown origin. Today Solano County declared a state of emergency. Officials discussed the case in the last 30 minutes and a cdc doctor was asked about the whistleblower complaint though he didnt get into specifics. There is no indication that any of the evacuees, even when having coronavirus disease, would have crossed paths with this case that were discussing today. Meantime, Laura Anthony in sacramento. She heard from the governor where she heard about coronavirus all across california. Reporter hi, dan. This is where the patient is being treated here at uc davis medical center. We understand she spent four days at a hospital in vacaville before being transferred here. She wasnt transfer for the coronavirus until she got here