The latest happening in china. Meanwhile President Trump is in india this morning, speaking at a rally with indian Prime Minister narendra modi, hes headed to taj mahal as we speak. Bernie sanders with clear victory in nevada but having trouble on how to pay for big plans, battle for the white house moving onto South Carolina. Verdict in Harvey Weinstein case, mornings with maria is live right now. Maria top story this morning market selloff, take a look at futures, down 818 points as fears about coronavirus rise across the world. The number of cases is jumping across the world. I want you to look at this map, bahrain 31st country, 79,000 cases across the world. The death toll is spiking at 2600. I spoke with white house trade adviser Peter Navarro on sunday morning futures of impact of coronavirus. I want to ask you about what the u. S. Is relying on from china because i know that they more plenty of ships that were supposed to be carrying medical equipment, medical supplies, components which now the u. S. Is not getting because china is holding onto those things. Not just for corona but essential medicines we need, same reasons why we offshored a lot of stuff, most of all unfair trade practices. Maria joining us kelly torrence, chief economist john lonsky, good to see everybody this morning. Serious day in terms of markets here and i feel like the issues around supply chains and the backup in terms of parts and components that are not making it here going so impact earnings, investors are starting to figure this out, john. Thats very important, we overlook the fact that import are critical for companys achieving success in the united states, meeting their production targets and what not. In fact, you look at the numbers closely import quarterly positively with u. S. Corporate profitability, this is time to step back and see where this is leading. Dagen leading around the world as a disease and as a virus, what has shocked the markets is whats going on in italy with 10 towns in italy on lockdown, schools closed in major cities, sporting events canceled and, of course, the venice carnival canceled because of the spread of this disease and the backdrop in the markets is, well, market virtually ignoring the risk, scott 11 days ago wrote this, even if the virus does not turn into a pandemic to think it isnt going to impact whats going on in the world is irrational, the impact will be dramatic, the effect on oil and Energy Prices could be more extreme. As a Major Economic problem looms on the horizon, the cognitive disconnect between Current Asset prices particularly in the fixed income markets and bond markets is and in Reality Market equivalent for peace of our time, hes talk about how in the late 30s the western world was ignoring what was going on in nazi germany, that was his comparison. Maria yeah, i feel like in the last couple of weeks ive also been surprised at the stability of this market given what you would expect from something as serious as the coronavirus, its why i keep mentioning things like what we are going the see in terms of the supply chains and how its going to impact earnings, also the ways chinese have handled this kelly, we knew that the chinese knew about the coronavirus way earlier than they revealed to the rest of the world, last week, Major General chen was deployed to wuhan, in other words, she was the top person in biochemical warfare, i mean, those kinds of words get you thinking like, well, maybe the speculation is not so wild after all that this did not originate in open market but, in fact, at the countrys only level 4 biowarfare which happens in wuhan. You had to wonder why. Maria absolutely right. We have the best experts in the world. Maria at the cdc and why would china not be welcoming them with open arms. Im a little surprised how big we are seeing things go down today but not surprised it has happened. Anybody watching the show, should have known to expect this as he said, maria, you have been asking whats going on with the supply chains and i think, you know, im not a big fan of policies, Peter Navarro but he brings an meant point, should we be putting all our eggs into one basket. Dagen asset prices were wildly overinflated. Thats whats at issue, if you look, lowergrade credits, there was money flooding for anything and everything in the fixed income market. Maria not a lot of room for error. Dagen i have never in my career seen anything as crazy as whats going on right now in terms of the wild valuations, it was crazy in 06 when i was pounding the table saying we are going to have a financial crisis of biblical portions, it was crazy in 97 but he said ive never seen anything like this before in terms of just run away valuations and people gobbling up anything in fixed income. Maria 19, 20 . 19. Maria 17, 18, its been about 20. Highest since 2002. Maria outside the typical certainly, but i dont know that its blown away. I understand what miner is saying, when you have valuations for typical averages, there isnt a lot of room for error, you get coronavirus and you get worsening situation. Yeah, i will sell everything i n sell anything. Dagen i know Central Banks around the globe, 1. 39, 1. 376 is your record low but we are at the lowest level since july 2016 people are going to wake up this morning and look at markets and go holy cow why is the market dow maria thats why exactly the market has been rallies, you can get a better yield from the company that pays dividends than the companies in treasury, thats one of the things driving money into stocks. Lower yields imply more liquidity for the financial system. Today its 5year treasury yield 1. 25 , weve had many instances over the past year where companies are increasing leverage but at the same time because of low borrowing cost reducing interest expense. Maria right. Unless you have systematic liquidity you will not have big sharp upturn that scott is talking about. Maria in the face of all of this the president is in india speaking earlier at nomastai rally, the president making a major announcement overnight. Watch this. The first lady and i just have traveled 8,000 miles around the global to deliver a message to every citizen across this nation, america loves india, america respects india and america will always be faithful and loyal friend to the indian people. And i am pleased to announce representatives will sign deals to sell over 3 billion in the absolute finest state of the art military helicopters and other equipment to the indian arms forces. Maria the military sales getting india under the tent in terms of security against china is one of the priorities of this trip. This is not necessarily about a trade deal thats going on this trip, Peter Navarro call it is tariffs in india the maja raj. Speaking to americans going into indian descent and getting euphoria for president and not as much as trade, dagen. Dagen in the coming day he will need to do what hes doing to stop on coronavirus and towns on lockdown, that should be his focus in the coming days. Maria absolutely, it is true and the cdc i would like to hear from as well in terms of whatever announcements they can give us knowing that the chinese will not allow the cdc in there to better understand how this originated. All of that coming up this morning, some of the other stories this morning, trouble brewing in the middle east over the weekend, palestinians militants fired 30 rockets last night and israel launching rockets, into it reportedly close to acquiring credit karma for 7 billion, the personal financial portal would be largest ever according to wall street journal, the deal could be announced later today, we are on that for you, we are Getting Started this morning, a lot coming up. Markets showing to selloff, largely due to fears of coronavirus and containing that. Dow industrials down 829 points, 3 contests down, we are look ago t how the democratic field is taking shape over the caucus in the weekend, Bernie Sanders in the lead. New plan to prepare for restarting production of the 737 max, all coming up this morning right here, but first quick break and then we are taking a dive into new yorks bail reform law, a newly discovered legal loophole, wait till you hear this, prince harry and Meghan Markle discuss royal branding and why they are foregoing it. We are introducing you to our newest addition to the family coming up, back in a minute. Maria dow set to open down 820 points plus european markets are even hit harder all down better than 3 , take a look, with ftse 100 down almost 300, cac quarante down 225 and almost 4 there. Asian markets down as well, there are new cases of coronavirus this morning reported in south korea, joining us right now markets head of Global ResearchKatherine Rooney vera, thank you for being here on a busy morning obviously, when you wake up and see the market down 800, whats your first move . Look, further to run. In 2002, 2003 there was 25 downturn, the market hasnt even considered it yet and whats going on, maria, that the extent of what we are calling pandemic, the duration of it is much longer than the market would have previously hoped, the market is beginning to price in what in my view will turn out to be a severe contraction temporary in nature for the chinese economy with some direct impact on global growth. Maria so you want to just avoid those companies and sectors that are going to be hit hardest here or are there areas to hide here, you want to shut down or do nothing here . What i i have been saying take t the First Quarter out of china because theres no Economic Activity, how does that hit the u. S. As impact earnings . Do you want to avoid things like apple which is producing everything out of china or are there areas, do you think places to hide as well . You will buy those areas, right, you important to remember as well and ive said this as well when we had the tariff wars that in terms of trade, youre talking about earnings and corporate earnings and the like and i understand that but when we are talking about u. S. Economic growth, the percentage of the u. S. Economy thats tied, in terms of earnings you could see slowdown but eventually get a recovery. What i like is when you get the nice size correction, maria, we are not talking 3 to 5 , we are talking 15 , a combination of sanders, combination of coronavirus, a combination of what dagen previously mentioned which was big bond bubble thats currently in the works, then you start to step in, and where you step in, maria, Chinese Consumer discretionary, chinese transportation and u. S. Equities. Hello, john, one thing that we should be keeping an eye onto try to judge how this is affecting the World Economy, whats going on with industrial commodity prices, you know, they are down, off the year to date, still well above lows of 2015 and 2016. Again, things could get worse and i would also add too, take a look at chinese Economic Growth now expected to come at 5. 4 this year, thats the lowest since 1190, but china was a much Smaller Player, much Smaller Player in the World Economy in 1190 compare todd. Dagen katherine just mentioned something, though, is part of this, hard to quantify, part of this selloff related to Bernie Sanders now being the front runner . That was my thought too, i would love to hear what katherine has to say. Maria thats also part of it for sure, yeah. What do you think . Look, protect your positions both against coronavirus and bond bubble and Bernie Sanders and the way im recommending this to clients in a market that has elevated of complacency, the put option that i recommend end of last year was more march 31st, im holding that, im telling my clients be aware of the Bernie Sanders risk. It will take down the markets, we are talking about socialism which the market hasnt priced in. Technology which is 25 of the s p 500 will come under pressure, energy, tech and banks. Maria actually when you see Bernie Sanders do well, usually the market goes up because theres a wide expectation that hes not going to be able to beat donald trump and trumps policies stay intact, do you think do you think this is also about that, about Bernie Sanders moving higher in the rankings . Well, has to be part of it as dagen, its hard to quantify, the true is the market taking for granted the risk of a sanders, you know, possible and once the market start to price in even the remote possibility of a win november 3rd, then you will get risk offs so theres an Expiration Date on complacency f sanders wins big march third and volatility remains as low as it has been then i will be extending the Expiration Date on the put options, currently, maria, it would cost you less than 5 of your return to protect your positions from now through november. Well, look, youve got a lot of unknowns out there, unknown of coronavirus, unknown of the election and, of course, valuations at pretty up size levels there. Not a great recipe if youre along the market, katherine, good to see you there. Katherine rooney vera. Stay with us. Thats awesome. Whered the trailer go . I love it. Its magic. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . 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Go to xfinity. Com moving to get started. Maria welcome back, we are looking at a sharp selloff on wall street, take a look, b 2 and 3 quarters percent. Nasdaq down is 3000 and nasdaq 88, this is all surrounding coronavirus as we see more spikes in the number of cases across the world. On top of all of that, securing americas elections is front and center after house briefing last week included new charges that russia is trying to meddle again in 2020. I spoke with House Intel Committee remember John Ratcliffe on sunday morning futures who is calling out adam schiff for his role in potentially spreading Bad Information about russia. We are at it again by putting out through his Committee Information that is false, look, im not trying to be hyperbolic here but i dont know anyone in the last 3 years who has done more to help Vladimir Putin and russia with their efforts to so, with the seeds of discord in American Elections and American Election security than adam schiff has. Maria just been clear once again fox news reporting that theres no evidence to suggest that russia is trying to help President Trump win another term and the intelligence may have been overstated. I mean, the bottom line is russia has been meddling in our affairs for decades, kelly, we know this and weve known this, has nothing to do with donald trump. Exactly, maria, the case before donald trump was elected and this idea that putin would not want Bernie Sanders in the white house, i just find laughable, the guy would ban fracking, ruining americas economy in some areas and, of course, making people more interested in buying russian gas, he would get america out all over the world, letting russia dominate the middle east, for example, its just laughable and i have to say, you know, John Ratcliffe, those were tough words for adam schiff and its about time. Maria i agree with you. Dagen theres evidence of collusion in plain sight after the Mueller Report came out he said that. And i will raise the issue not just some of the democrats in government but also members of other media organizations, how are they not part where they are spreading disinformation and misinformation to the American People literally helping putin without a dime without putin paying a dime. They sit back and hair is on fire that Bernie Sanders is leading the democrats for the nomination. Its because youve been talking about russia collusion for the last almost well, 4 years. Maria its been 4 years, thats why our ratings are up and sunday morning futures is credibility, we have been getting the truth and slammed for it. The media over and over again that this is absolutely not true and narrative that they keep on selling, coming up boeings pitch to suppliers, to start 737 max production. Keep it quiet, alexa recording you, yes, we are taking a look at more privacy breaches, which one has a big surprise this morning, we are introducing you to the newest addition of mornings with maria family, which one of us . Stay with us. New brokerage acco, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk while our competition continues to talk. howling wind howling wind maria welcome back, good monday morning, thank thank you so mucr joining us, im maria bartiromo, monday february 24th, top stories right now 6 30 a. M. On the east coast, going to be a tough day at the office this morning, look at futures right now, weve got an increase in coronavirus cases outside of china and thats sparking a global selloff, futures down 773 points on the dow industrials, the nasdaq lower by 287. Excuse me, s p 500 right now lower by 85 points, sharp selloff right out of the gate for stock prices. Flight to safety is on meanwhile gold is on the rise. Take a look at where gold is right now, up 2 and a quarter percent, goal has been rising for the last month. Meanwhile yield on 10year treasury falling 1. 399 on 10year, oil prices under pressure this morning, demand concerns are growing in face of coronavirus crisis, oil prices down 4 right now at 5130. Coronavirus hitting italy with more than 150 confirmed cases near milan this morning. Ftse is down 285 points and dax index in germany lower by 485 points, almost 500 points on the dax index, good news coming out of germany, though, business morale rose unexpected in february coming at 96. 1 versus forecast 95. 3. The news not enough to overcome coronavirus concerns today thats for sure. In asia overnight red across the board, south korea seeing largest decline as confirmed cases surge from 161 to 763. , 763 cases in korea. Japan is closed for the emperors birthday holiday overnight in japan. Boeing planning more support for 737 max suppliers when production finally resumes, Cheryl Casone with details, cheryl. Cheryl boeing says it will stockpile more parts than it has in the past and set aside 4 billion for cash advances to suppliers, boeing suspended production of the max in january, suppliers said they have been given 3 potential schedules for resuming work on up to 300 planes so far this year, boeing does not expect approval on the software and training for the max until probably midyear they are saying now, stock is down premarket, down 2 and 3 quarter percent right now. Well, Jussie Smollett back in court today, the actor facing 6 new criminal charges that he lied to police about a targeted hate crime in chicago last year, expect today plead not guilty and pleaded not guilty to 16 counts last year before the Cook County State Attorneys Office suddenly dropped the case without clear explanation against Jussie Smollett back in court. Alexa and siri and smart speakers are useful but apparently nosily secretly listening in on our conversations, study from North Eastern university found that smart speakers can be accidentally activated 19 times a day, researches siri, the worst offender, folks, hot wheels is taking on tesla, kind of. Mattel offering Remote Control version of groundbreaking cyber truck, theres two versions, 164 scale model, thats 20 bucks and 110th scale model, set you back 400. No worry if the windows are going to break. [laughter] maria thats very good. Cheryl for elon musk. Maria cheryl, thank you, breaking news, live look at President Trump and the First Lady Melania Trump arriving at the taj mahal in agra, india, this part of the president s first visit to the country, the president as well as first lady will be taking a tour at the taj mahal and, of course, he spoke in a rally where there was 100,000 people in the stadium listening to the president and Prime Minister, there they are, the first couple at the taj mahal this morning, we will take you back there as news develops this morning with the president on the ground live this week in india. He said he will be back by South Carolina, so he will probably just spend a few days there, we will get back with the schedule. Focused on 2020 vermont senator Bernie Sanders won nevada caucus over the weekend establishing frontrunner status for the democratic nomination. Now it is 3 victories, this victory comes after sanders won popular votes in iowa and new hampshire, remember, and increases fears of the Democratic Party that a sanders nomination could cost them the election. Joining us right now usa today susan page, susan, good to see you this morning, you to believe that the establishment democrats are trying to figure out what they are going to do about this, they dont want to get behind socialism and yet thats what their candidate looks to be . Yes, a lot of concern among more establishment democrats this morning about senator sanders extraordinary showing in nevada, he didnt just win, he won 2 to 1 over joe biden and showing the Broad Coalition that should be helpful as he goes in super contest on march third. As long as so many moderates remain in the democratic president ial field its not clear that theres a path for them to block sanders path toward the nomination. Dagen its Dagen Mcdowell, there is pressure on say an Amy Klobuchar even a Pete Buttigieg to drop out but does that mean does that mean that those those positiverrers of those two candidates go to a joe biden or a Mike Bloomberg assuming he doesnt wind up like a puddle like last week . The candidates that are being urged have been urged to drop out and have shown no inclination, and dont see joe biden as having done so well that they should give up their ambitions in the interest of his, that is Mike Bloombergs argument, of course, that you talked to Amy Klobuchar, for instance, or a Pete Buttigieg who have been out there competing in early contests, they dont see a reason to step aside for Mike Bloomberg either. Maria what was it the memo for Mike Bloomberg, look, get out of the way im here, Amy Klobuchar wasnt liking that. Meanwhile Bernie Sanders was on 60 minutes, susan, he spoke about frontrunner status, Campaign Platform and spoke about a lot of things that he makes the Democratic Party and its voters nervous. Watch this. They should be getting nervous. [cheers and applause] youre also making democratic voters nervous . A lot of candidates out there and each candidate has his or her supporters. A lot of voters are voting for candidates that arent calling for medicare for all or revolution, is everyone wanting a revolution . Lets go easy on the word political revolution, we are trying to follow youre the one using the word. Yeah, i dont want people to overstate that. Its not good enough to complain, i can not afford my health care, i cant afford child care, i cant afford to send my kid to college, paying half of my income in rent. You know, if youre not happy about that, you have to be involved in the political process, only millions of people can stand up to bring the change that the country requires and i believe that has got to happen. Maria also in that interview he talked about how, you know, when when the socialist king in venezuela first came out, the first thing that he did was do a plan, did you see that, susan and ted cruz responded, oh, yes, its always good to know that when youre killing people its good they can read and write. He spoke positively about reforms in castros cuba although he acknowledged he didnt like the authoritarianism of that regime. You can see the problems in state like florida for democrats trying to win not only the president ial race but races down the ballot. These are among the reasons that some establishment democrats are really quite concern, we are likely to hear jim clburn, top ranking africanamerican in congress endorse joe biden on wednesday after the tuesday debate in South Carolina and that may signal an effort by some of these establishment democrats to get blind biden or someone else in the interest of stopping sanders, but sanders has gotten has shown appeal among younger voter liberal and interestingly among latino voters as well. Dagen Anderson Cooper barely touch on Bernie Sanders, Bernie Sanders plans to release medical records and then he had a heart attack and keeps stonewalling on this, and i will keep pointing this out. Its going to become an issue, maybe he appoints a running mate sooner than later, Ronald Reagan left the office at 77, Bernie Sanders would enter the office if he won at 79. Anderson cooper softball and said you would be 82 at your second term. What does that even mean . Asking where his medical records are. I think there will be calls, increasing calls for Bernie Sanders medical records, but, you know, one of his defense, where is Donald Trumps detailed medical records, we may enter the situation where we have the oldest candidates in American History buying for house and neither one of them releasing medical records up until 2016 where we are expecting candidate. Dagen just had a heart attack which delayed telling the American People. Maria we dont know bidens health either. A lot of things have not been disclosed publicly as well. By the way, im glad you mentioned cuba, thats exactly right with Bernie Sanders. He was praising fidels castro literary plans, when fidel castro came out with a literary plan and thats when when ted cruz said, oh, yeah, when you are killing people you always want to make sure that they can read or write, susan, good to see you this morning, susan page, usa today, coming up we are taking a dive into new yorks bail reform law next and newly discovered legal loophole, wait till you hear that, stay with us everything is locally harvested, farm to dumpster to table. Uhhh, what do you. What else do you got . stammering wwe have a melon rind stew. Comes with a pork and bean reduction. Yeah, were going to just do a lap and well come back. Okay. Well, well be here. Man why isnt this working . My mouth is watering. I think thats just your rabies flaring up. With geico, the savings keep on going. Just like this sequel. 15 minutes could save you 15 or more on Car Insurance. We got gristle pot pies maria welcome back, serious selloff underway, we are starting with a decline 2 and a half percent. Thats off of the lows this morning. Nasdaq futures are down 275 and s p futures down 82. We have startling numbers out of new york city, shootings surging 30 from new years day. Shootings are up 30 since new years day through the beginning of february compared to same time last year according to new nypd data, mayor bill de blasio controversial bail reform laws are partly to blame. John appears to have found legal loophole that keeps violent offenders behind bars. Criminal defense attorney peter, great to see you this morning, thank you very much for joining us. We are outraged by the new bail reform and expecting crime that will go up in new york, tell us about the loophole and why its important. Its important to understand that the new York State Legislature made a goodfaith effort to try to correct what were serious inequities in previous bail reform law. You had people sitting in jail for 50,000, a thousand dollars for weeks and months, the problem is significant overreach by the legislature, what they did was they took essentially all discretion away from judges so the judges are no longer in a position where they can decide whether or not bail is appropriate and for what offenses, so what happened in the case of casey knight, the individual if brooklyn is that he was and this is an individual who had 7 prior felony offenses for burglary, he was released in december because the new bail law doesnt allow for bail in residential burglaries, what happens, he gets out on bail and he goes alleged to have committed 3 more burglaries, the prosecution goes back to judge hecht, look, if he came in the first time for residential burglary, the new bail reform law doesnt allow you to set bail which is pretty incredible in and of itself because burglary is considered a violent offense, however, judge, he got out, now hes back a second time and theres a law from 1980 that says if youre out on a felony on bail and youre alleged to have commit a violent felony, you can set bail now on that original case, thats exactly what judge hecht did and he has no bail. Maria but this is a very specific situation. Youre not going to be able to use this a lot, right . How often can a judge turn to this loophole . Thats a great point. The answer is very infrequent because its a very specific set of circumstances in which somebody is out on bail, they have a felony case pending and then alleged to have commit a new violent felony offense. Maria unbelievable. Kelly, youre at the Editorial Board, you cover this a lot. We have been talking about this for months. I mean, last year before even implemented as some judges, judges at the end of last year who were saying, like, you know, what im not going to do bail because they will let you out as of january 1st anyway and judges have been sounding the alarm on this, we had new york commissioner in Editorial Board meeting, he said to law enforcement, wasnt even consulted when they put this package together. I mean, how can you not talk to the people who actually see this every day . I mean, its crazy. Dagen arrogant and ignorant and they dont care about the people who they represent in the city and the state. Maria they just want to close down jails and want to get prisoners back out. Dagen crime isnt crime. This is the idea of social justice, its not about protecting the people in the city who are being robbed, who are being assaulted again and again. Maria they are not considered significant crimes. Let me give you another example, lets take serious drug offenses, okay, you get caught with a kilo, cocaine, heroin, fentanyl, drugs that are killing people throughout our country, these are not qualifying offenses for which bail can be set, so you have somebody caught with 5 kilograms of cocaine, they see a judge and they are released immediately, the only thing a judge can do is order some supervision, thats it, no bail and maria for months and months the media was not reporting, this kelly, i remember being on the air pleading with the New York Post and others saying where is the media on this, cover this because they we wanted to shut down ricers island and 3 other jails and never had the capacity that ricers island had, even before bail reform, they had plans to let out as many inmates as possible, isnt that true, peter . 100 true, thats whats been going on and if you go to courthouse any day of the week, there used to be 3 or 400 people in the system, now 30. Its empty, they are talking about building additional jails but nowhere to put them in. Maria they wont have the capacity that ricers had, top was 9,000, most recently it was 5,000 and then the new jails cant do 5,000, 3 jails together cant join the capacity that ricers have. They have to get them out. You have half of the people or less who are incarcerated as a result. Maria we will definitely continue on this story, this is an important story for our viewers, peter, we appreciate your insight. Peter frankel joining us. Futures indicating sharp selloff at the start of trading due to fears of coronavirus and impact, stay with us. 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. 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. Maria welcome back, breaking news. Live picture of President Trump and the First Lady Melania Trump touring the taj mahal in agra, india this morning, as you can see that is a live picture of the taj mahal and we will bring you any details from the president s trip to india. He talked to a big Group Earlier with Prime Minister, a hundred thousand people in the audience. Back in the u. S. Major selloff for stock prices, take a look. Sharply lower open for broader averages with dow futures down 710 points and nasdaq 256 and s p lower by 77. It is because of more fears to have coronavirus and the number of cases spiking across the world particularly in italy as well. Meanwhile time for morning buzz, first all royal no more, prince harry and Meghan Markle confirmed that they will not be using using the word royal or the phrase sussex royal. Here we go, kelly. The story gets more delicious by the day. They wanted to be in and out and the queen is saying, no, but i have to say i was really surprised, well, maybe not surprised but disappointed by the statement that harry and meghan put out basically saying that the queen doesnt have sovereignty over the word royal outside of the uk but we will not do it anyway, they are throwing shade at her majesty. Maria dont mess with the queen. Have you guessed who has the big surprise this morning . We are ready to introduce you to our newest member of mornings with maria family, who is it . Its dagen, you have another rescue. Dagen i got him from animal league, north shore animal league, hes probably never had a night of sleep in his entire life, he was on fox friends and i immediately called emailed north shore animal league, he came into the house on saturday. Hes a year old, jack russell mix and wide open, charlie is looking at me like what did you just do. Maria you opened the crate and what did dale do . Dagen he goes up on the sofa in the bedroom, around and drags his body parts, hes adorable. I think hes going to learn really quickly and i think he knows how lucky he is. Maria charley is sitting there. Dagen hes like, okay. Bring it down a notch. Maria i love him, dale, welcome to the female. Stay with us, we have a lot to come. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. Others, fenofibrates or niacin. But heres a number you should take to heart zerothe number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. Ask your doctor about an advancement in prescription therapies with proven protection. Visit truetoyourheart. Com 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 maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is monday, february 24th. Your top stories, 7 00 a. M. On the east coast. Going to be a tough day at the office today, futures, an increase in the number of coronavirus cases outside of china, sparking a global selloff this morning. U. S. Futures indicating a decline of 700 points right out of the gate for the dow industrials, thats 2. 5 , off of the lows of the morning. We were down 850 earlier. Nasdaq lower by 257 points and s p also down in the double digits. The flight to safety is on, gold is surging this morning, up better than 2 at 1683 on the price of gold. Yields on the treasury, take a look, the yield on the 10 year falling to the lowest level since 2016 as prices go up, yields come down. Were looking at a yield of 1. 40 on the 10 year. Demand concerns are growing due the coronavirus, maybe the Global Economy will be using less oil because of less traffic across the world, fewer airlines, etcetera. The price of crude oil down almost 4 right now. In europe, coronavirus hitting italy, more than 150 cases confirmed, near and around milan. The fq100 is down 240, three and a quarter percent, the cac in paris down 206 and dax in germany lower by 482. Thats 3. 5 . In asia overnight, red across the board, south korea seeing the largest declines because the confirmed cases in sout south ka have jumped to 763. 763 cases in south korea. Japan was closed overnight for a holiday, its the e em pourers birthday in japan. The crisis spreading, raising fears of a global pandemic. A surge of cases in italy, closing schools, canceling the celebrations in venice. The death toll has ris risen inh korea and iran. China is now postponing the annual meeting of parliament. We have the latest on whats happening at home as well. President trump is in india this morning, touring the taj mahal with First Lady Melania Trump right now. This comes after he spoke before 100,000 people with indias Prime Minister overnight. Bernie sanders becoming the clear frontrunner for 2020 after another victory in nevada. Hes having trouble explaining how to pay for his big plans. The battle for the white house moving to South Carolina, coming up. Were on a verdict watch in the Harvey Weinstein case this morning. All that many coulding up. Mornings with maria is all that coming up. Mornings with maria is live right now. The coronavirus virus fears sparking a global selloff. The cases outside of china are surging. Markets are pointing to a sharp decline at th the open. Not only the sickness, but the fear that the coronavirus will affect the economy. New cases of the outbreak have spread to italy, south korea and bahrain. Futures off of the lows, down 695 on the dow industrials. Oil is also under pressure and thats a demand story as you can see, oil down almost 4 right now. And then there is interest rates, prices are going up, yields are going down, 10 year treasury yields at the lowest level since 2016, at 1. 40 , down 7 basis points. Investors are looking at safety places like gold, gold prices are up better than 2 , gold prices have been doing well in the last couple months as they hedge against any weakness. Yesterday, on sunday morning futures, i spoke with white house trade advisor Peter Navarro about the Economic Impact of the coronavirus. Heres what he said. I want to ask about what the u. S. Is relying on from china, because i know that there were plenty of ships that were supposed to be carrying medical equipment, medical supplies, parts, components, which now the u. S. Is not getting because china is holding onto those things or they cant even produce them. Weve offca offshored far o much of our supply chain, not just for the essential medicines we need, the same reasons we offshored some of our stuff, most of all unfair trade practices. Maria joining me to break it down, kelly jane torrance, Dagen Mcdowell and john lonski joins us, keith banks, great to see you. Certainly morn to see you important see you on a day like this as the market is down 700 points. What are you telling clients this morning. Heck of a way to start the week, number one. Maria happy monday. The important change, maria, you all hit on it this morning as i listened to part of your conversation, is that the expectation had been this would be a relatively shortlived and it would be a vshaped recovery, off whatever happened. First quarter, second quarter, but second half we kind of claw it all back and it would all be good and i thinkand the view is also that we would see things relatively contained within china. Obviously, not the case, as a result i think now investors are starting to think it wont be a vshaped recovery but maybe more of a ushaped recovery and that has implications for growth, has implications for inflation, has inmri cases for growth and earnings. Maria is it the fact that there wasnt a lot of room for error, the market can was up at these levels and higher valuations than weve seen in a long time so anything is going to tip it over. All of the above. What was interesting to me is that with all that was going on, the s p 500 was very close to its alltime highs and again, based upon the expectation that the profit story wanes tact and the growth story was largely intact. I think thats changing and i think as people begin to discount that, the markets reflecting it or beginning to reflect it today. Do you think that Bernie Sanders winning the nevada caucuses over the weaned is part of this story as well . I mean, ive been asking people, most people say they havent been too worried. Hes starting to look better and better, are people finally getting worried. Maria wall street doesnt think he can beat trump. Maybe theres some of that in there. Who knows. I think right now the big story is the virus, the spread of the virus. Whats going on in italy has really got peoples attention in a big way. That seemed to be the Tipping Point from an expectational standpoint. So i think thats more the driver at this point. Dagen what people are going to be talk about is if you have a dramatic economic slowdown, over there and even here at home, then people Start Talking about what does that do to President Trumps chances of reelection in november. That is all part of this same discussion. Im wondering right now, which of the ettl segments, coms in the s p 500 are you most worried about regarding vulnerability to the coronavirus. The more tied you are to china, specifically, the more problematic. Weve seen some early indications from some companies that have reported what that might look like, but its early days. I read and ive seen analysis that roughly 50 of the s p 500 companies are impacted by china either from a demand standpoint for the products or manufacturing, i. E. , supply chain. So if this continues on and we dont get that vshaped recovery, were going to have a lot of earnings adjustments coming out as companies begin to preannounce earnings as weve seen some of that going on. Weve got a lot of i think difficult moves to get through and thats beginning right now. Maria couple of companies have told us the extent of it but youre right, many have not and we dont know about a lot of growth stories are tied to china. Let me ask you this. As we sit here and watch stock prices plummet on this worry over the Economic Impact, would you buy gold . Is this a viable option . I dont think of gold as an vestment, i think of it as a hedge, hedge against upsetting times. Is that something you want to do. We don at bank of amerie dont view it as an investment. Its not part of where we go. I think the proven hedge is the 10year bond. It already began to the bond stabilized. It was kicking in. Before this, the 10 year was down to 1, 4, 7, 30 year down to 1, 9, 1. Its lower yet. I think the hedge is, if youre going to stay in ebbing with i aatthises equities. I think people do the barbell. If you stay in equities, people are buying the 10 year bond. Its a global hedge. I think youre seeing global money moving into the 10 year and well see how low it goes. Maria all right. Well leave it there. Keith, great to get your insight. Keith banks joining us there, bank of america. Now a look at the stories were watching this morning. President trump kicking off an historic trip to india this morning, the president u. S. First trip to the company as president. Earlier he spoke to a crowd of more than 100,000 people. He was joined by Prime Minister mode, looking toward modi, looking toward an Economic Future between the two countries. We are in the early stages of discussion for an credible for a an incredible trade agreement. Maria they paid a visit to the taj mahal this morning. From there they will travel to new delhi. Italy reported a fourth death due to coronavirus. The country scrambling to contain the outbreak, now 150 case is reported, up from just three on friday. Three to 150 in italy, thats what is underlying worry this morning. South korea reporting the death toll has risen, now at seven. Here in the states, a federal judge temporarily banned the transfer of people infected with the coronavirus to california facility until a hearing this week. Alabama rejected federal plans to house Cruise Ship Passengers who tested positive for the coronavirus in a facility in that state. The death toll from coronavirus topping 2,600. Confirmed cases, 7 thousand across 79,000 across the world. Sonic celebrating another strong weekend, the video game favorite raking in just over 26 million in just the second weekend after a threemonth redesign delay. Sonic edging pass the call of the wild with 24. 8 million. Birds of prey rounded out the top three. Coming up, the coronavirus fears hitting markets, stocks selling off this morning as cases spike across the world. Well focus on Credit Card Debt this morning, finding the card that best fits your lifestyle. And apps helping you find friends, how technology can help locate people who think like you. Thats all coming up. First, stopping the coronavirus here in the united states, one lawmakers plans for confronting the epidemic, next. How long before they could get a vacation seen on the market. Made for tv heroic, how one stayestadium maintenance workere to the rescue as an nhl fillin goalie. Back in a moment. whistling whistling maria welcome back. Coronavirus outbreak spreading outside of china. That has markets unnerved this morning, a fifth person has been infected with the virus in italy and that person has died in italy with more than 200 cases reported in italy, just since friday. My next guest unveiling a new bill aimed to create a Permanent Fund to enable quick and effective responses to future Public Health emergencies. Joining us now louisiana senator bill cassidy. Good to have you this morning. I want to ask you about your bill but i also want to ask you about our preparedness and what kind of money we need to get prepared. Walk us through the bill. Its based on what happened after Hurricane Katrina. Before Hurricane Katrina congress had to come back in session, allocate dollars, the dollars would then be dispensed. It was always a little bit of a lag. After katrina, they said wait, lets set up a bank account. Not only a bank account, but were going to relax certain rules on contracting and procurement so you can quickly respond. We want to do the same thing now. If theres an Infectious Disease thats coming and we have one every two to three years, then we have a bank account that hhs, health and Human Services can immediately pull down, put wherever they need it and relax those procurement rules so they can more eventually respond evidenceffectively respond to te threat. Maria what kind of resources do we need in the u. S. I know the white house is asking the omb right now for billions of dollars to be ready, a supplemental into the budget to be ready for coronavirus. Is that going to be three to 5 billion, whats your view in terms how much is needed. Thats what theyre speaking of. We want to stop the virus from he entering our shores. The thing about iran, south korea and india, suggests that the virus will spread around the world, eventually will make it to our shores in greater force. We want the ability to capture it, to quarantine, to be able to screen more effectively, to do all the Public Health research we need to do so were adequately prepared. This is about america protecting ourselves against risk. Maria is Congress Going to allocate that . Im sure they will. Maria yesterday on sunday morning futures, pe peter navaro joined me to talk about the impact of coronavirus. Listen to what he said. Got to get your re. A i want to ask you about what the u. S. Is relying on from china because i know that there were plenty of ships that were supposed to be carrying medical equipment, medical supplies, parts, components, which now the u. S. Is not getting because china is holding onto those things or they cant produce them. Weve offshored far too much of our supply chain, not just for corona but also for essential medicines we need. Same reasons we offshored a lot of our other stuff. We have to look across four different elements, the protective gear like the face masks, the treatment drugs that were trying to get into Clinical Trials quickly, its the Vaccine Development which were moving in trumptime, were going to be able to get possibly get a vaccine in half the time it usually takes. Maria your reaction, senator . Of course, its true. We have offloaded or outsourced in which case those places weve outsourced they have problems and we have that same problem and obviously the Trump Administration has pushed to pull that back over here. Id say thats not only pull. Intellectual property protection, et cetera, has also pulled back. Were obviously vulnerable right now. Do you think a situation like this with what were seeing and marias been talking about for weeks, the worries were not getting supplies here, does it make American Companies think harder about how much they want to rely on one place, especially like china, which has been covering up. We dont even know exactly how this virus began. I agree with that, there has to be a certain degree of uncertainty if youre going to be in china and that uncertainty is related to Infectious Disease which is a black swan event as well, also relates to some other need they have to crack down on Precious Metals to consolidate their market share. China continues to be to throw its weight around in terms of expanding its market in a way which is unusual but also is vulnerable to things which in turn impact our market share. Its like what secretary pompeo has been saying, sure, you want to be all about the money, you want to sell to 1. 4 billion people, you want to be in china, do it with your eyes open because they will steal from you and they may change the rules on you. On the other hand, its important we not view this coronavirus as a geo political advantage to ours. This is going to affect the entire world as a pandemic. As much as we offer support to china, it is going to be our benefit. What if the coronavirus brings you Economic Activity to a standstill, does a lot of damage, companies are running short of cash, are you confident that the Federal Reserve will quickly function as a lender of last resort to help people get over this special event, businesses get over this special event. Absolutely confident that we will do that. Im also confident theres more resiliency in our economy. Were now exporting to canada and mexico far more than we formerly did. The usmca allows us to have an offload for our crops. Well be hurt but on the other hand i think theres a certain resiliency. I dont think well come to a standstill. Maria maybe. China represents a much bigger portion of the Global Economy than it ever has. It does. Our exposure perhaps is less than vietnams. Were still exposed. Not saying that. We have a lot of highly leveraged businesses that may find themselves having difficulty rolling over debt and they need temporary assistance. I agree with that. Dagen thats why i was saying the market is selling off because of overvaluation in debt market and fixed income, not necessarily stocks. Anyway sorry. Maria senator, good to have you. Well be watching your bill and where it goes next. Senator bill cassidy joining us. Stay with us. Well be right back. Hi guys. This is the Chevy Silverado with the worlds first invisible trailer. Invisible trailer . And its not the trailer right next to us . This guy . You dont believe me . Hop in. Good lookin pickup, i will say that. Oh wow. Silverado offers an Optional Technology package with up to 15 different views including one enhanced view that makes your trailer appear invisible. Wow. Thats pretty sweet. Thats cool. Oooohh thats awesome. Whered the trailer go . I love it. Its magic. Can you help keep these iguys protected online . . Easy, connect to the xfi gateway. What about internet speeds that keep up with my gaming . Lets hook you up with the Fastest Internet from xfinity. What about wireless data options for the family . Of course, you can customize and save. Can you save me from this conversation . That we cant do, but come in and see what we can do. Were here to make life simple. Easy. Awesome. Ask. Shop. Discover. At your local xfinity store today. Maria welcome back. Markets are selling off this morning on fevers over the coronavirus and its impact. The dow futures are down 700 points right now, thats two andahalf percent. We are going to look at a messy opening this morning, which will include sharp declines for the major averages. Then there is this, never talk to strangers, thats the message we send to kids all the time. Now there are apps that encourage speaking to strangers. Companies pitching themselves as alternatives to facebook and instagram while they say there are safeguards in place, they may not be perfect. This story in the journal this morning about these apps really struck me. When i was growing up, i dont know about you, when i was growing up if you need somebody to talk to, talk to me, your mother. My mother would say talk as a family, we dont need extra friends. Today its like go make friends with strangers. What do you think about this . Dagen i think these are individuals who talk about politics so much to their existing real world friends and even people on established social media platforms like facebook, instagram that all of your socalled friends are sick of you and you have to go find stranger who you can talk about russia collusion or whatever it is. Thats on the left and on the right. I think politics so dominates the conversation of, well, crazy people in this country, that you have to basically go rant an rave at strangers. Thats my theory. Maria theres this obsession with having more friends and getting likes. Whats this obsession with getting likes. Dagen the dopamine response. The mice in the laboratory getting the hit every time. I have mixed feelings about this. Part of me thinks when i was a teenager, sometimes i felt lone lirks didnt always have lonely, didnt always have people to talk about. There wasnt the craziness there is now. At the same time, you talk to likeminded people. I think its actually good to talk to lots of different people, not just people that share your views, especially when youre young and you dont know a lot. Maria thats true. Okay. Good point. Dagen tell me im awesome. I dont want to talk to people who disagree with me. Maria tell me im awesome. Dagen tell me im great. Tell me i havent gained way. Tell me my hair is not fuzzy today. Mari