This is after the bell. S p 500 down six days in a row. All three major averages down more than 4 on the worst pace for the financial crisis since 2018. We have fox Business Team coverage, blake burman at white house, Deirdre Bolton on the floor of the new york stock exchange, phil flynn watching oil at the exchange. Lets kick it off with deirdre. Reporter a lot of superlatives. Closing with the worst week since 2008. Look at stocks that pressured the average most. Microsoft for two reasons. Company says for the Current Quarter not what they expected. This is very much related to the coronavirus. Microsoft gets at least 10 of sales from china. Apple moving lower on the dow as well all day. Like the bigger picture, going down towards the end. Apple last week saying again sales this quarter will be lower due to effects of the coronavirus. One stock i was tracking all day, limiting losses, i dont know if we can say that with 1000 points down is 3 in. A part of what 3m makes are masks. You see the chart. Still closing at lows of the session. It closed up better than half a percent. On day like this worth pointing out only one of the 30 to close higher for the day. Microsoft in the sales context, they canceled a pretty big event out of abundance of caution. Microsoft management was supposed to be in San Francisco later this year. Facebook also canceling its biggest event for the year. Developers conference out of abundance for caution. Maker of are Fortnite Epic Games supposed toe have an event in san jose, california, canceling as well. Clorox, as more and more people become anxious protecting themselves, i got here at the new york stock exchange, even though not recommended for human skin, wiped down the my skin, computer keyboard, wiped down the desk. Melissa, the selloff is real. Back to you. Deirdre, thank you. Connell talk about what we saw, what happens next. Our panel, erin gibbs from Gibbs Wealth Management and terry. What happens at the close, the capitulation, throwing in the towel what people look for going through Something Like this or no . I dont know if it its capitulation or we reached bottom at all. There is no information at all. There is a lot of risk to the downside in terms of surprises. Markets are trying to find a bottom. Until we see the leveling out, were starting to see earlier today, then that gave way, it is still wait and see and there is still risk to the downside. That said, i think there is just as, in short order there will be risk to the upside also. You cant fall this fast without having some sort of a snap back or at least technically you will see Something Like that. Connell that is the thing. Connell erin. The speed of this. We get corrections. We have one officially. How fast it happened and how violent it has been this week. What is your takeaway . The fact were starting to get somewhere around more reasonable valuations telling me people are taking it more seriously. I think before we blew it off. We thought it would be pentup demand, quick vshaped recovery and people are realizing this might take several months, several quarters to really recover. I think that fear is pushing us down. I think it can go down another 5 . That would bring us to about fair value for the past three years. Still be very healthy valuations, still, good earnings, just not as good. But definitely, being a little more cautious, not being so pricey. Connell erin, terry, well be back to both of you. Melissa has another terrific guest now. Melissa all right. For the coronavirus Global Economic impact here now is liz ann sonders. She is Charles Schwab senior Vice President. Liz ann, so i want to kind of sort through what is the emotional part of this trade versus what is the reality of the economic impact. When you compare it to the financial crisis what needed to be rebuilt, other natural crises like a hurricane where things are destroyed, economic active. Goes away and hard to start it back up, businesses ruined, that sort of thing, talk to me about reality of, is it couple months of pentup demand, then things come back . What do you think really happens . The problem we dont know. I dont know i would liken it so much to Natural Disaster like a hurricane because that is one time in nature. It is quite a bit time certain. You do tend to get more vshaped recoveries. We have no idea what duration or longevity is going to be here. We know compared to say sars, which i think are apt comparisons trying to look from medical perspective but china quadrupled as a weight in global gdp. Their consumers have nearly quadrupled as a weight of global consumption, not to mention complexity of supply chains. Not having any idea when this stops getting worse and Getting Better again were somewhat limited. Supply shocks cannot be handled in terms of Monetary Policy. The nearterm fix, why the market is not embracing that, a Monetary Policy doesnt help supply shock. This is also a demand shock but outside of the United States. So fed policy cant help much there. Last thing i would say about the emotional side of this, one of the rubs, i think one of the reasons for the severity of the downturn, heading into the first eruption of this virus we had unbelievably stretched sentiment. Investor optimism was in euphoric territory. On some measures investors were more optimistic, than the optimism we saw in the late 1990s, early 2000s. The sentiment wasnt great from a perspective. Melissa i would point out 90 days after the first identify case of sars, market was up 25 . We compare it to the other different viruses. People made the czars comparison. That is the top line on the chart there and the thought is, i know youre talking about supply Chain Disruption but when the dust settles there arent things that have been destroyed or ruined. It is just this idea that the supply chains been disrupted. Is it a benefit at all that companies have tried to move from asia already . Well, we were looking at adjustments to supply chains already by virtue of what the trade war and tariffs brought on and this arguably accelerates that process but what we were learning even before coronavirus is it is not so easy to make those adjustments. Larger companies can be a bit more nimble. They are limited virtually elsewhere there is not the same capacity. We is sort of entrenched ourselves as a Global Economy in what china has represented and pulling back from that is not a shortterm process. This sort of speeds up the need to do it but doesnt allow for the process to happen over more condensed period of time. Melissa does it reinforce the point we were really stupid to put all of our eggs in that wasket so to speak . Well, this has been happening over the course of a couple of decades. This was not a nearterm phenomenon as we took advantage of cheaper labor, cheaper access to resources and we moved to this sort of very integrated supply chain. Do we look back now and say okay, maybe it was a little bit too complex and we need to go back, instead of having a Platform Company just ultimately sell the product that they designed with the middle part of the process being done in the cheapest locations, frankly there was financial incentive to make those justments anyway even before the trade war began. The differential in terms of labor costs started to narrow sufficiently i do think there is lots of reasons why we are now in the beginning of sort of this deglobalization process. I think there are some potentially negative implications of that longer term too, not least maybe being inflation but for now the problem is we just dont have any sense of timing of this and companies the best they can do, throw in the towel, we dont know what to tell the analyst community. We dont know what happens to global growth, u. S. Growth or earnings trajectory which leaves Market Participants uncertain. Melissa phenomenal insight. Always brilliant. Thank you. Connell the Company People think of more than any other following that conversation with melissa and liz ann are have something apple. It is down 19 bucks. Tim cook surprised employees and customers at an apple store in birmingham, alabama. Susan li was there. Why we had exclusive access. She joins us now. Susan had exclusive sitdown with apple ceo. You talked about the impact of the virus. What have we learned . Reporter apple is in unique position not only put together 50 of their iphones in china but 20 of their sales from china as well. One of the first Major Companies to warn the market because well not make sales targets from the impact of the disease. I sat down with a wideranging interview in birmingham, alabama today, where they talked about the new Education Mission and expanding that in this region. Homecoming for tim cook. He grew up in alabama and went to you a burn. Coronavirus and how it paymentings apples business. Listen. It feels to me, that china is getting the coronavirus under control. I mean you look at numbers, theyre coming down day by day by day. Im very optimistic there. On supplier side we have suppliers, iphone is built everywhere in the world. We have key components coming from the United States with key parts that are in china, in so on, so forth. When you look at the parts that are done in china we have reopened factories. So the factories were able to work through the conditions to reopen. Theyre reopening, theyre also in ramp. This is sort of the third phase of getting back to normal and were in phase three of the ramp mode. Reporter now i asked him whether or not they might rethink how much of the supply chain they want to base in china . You will hear from tim cook tomorrow in my exclusive interview that we had. I also asked if the disruptions will surpass the Second Quarter of this year. That is something you will hear from tim cook in that exclusive interview we have tomorrow on fox business and fox news all day long. Just to characterize it for you, im pretty sure this is the same for everybody, a lot of corporate ceos, is that the situation is fluid. I think everyone is just hoping for the best at this point. Guys . Connell susan, i ask you this. Im sure we all get a sense when we see a longer version of the interview. How would you characterize his tone . There are some people in the business community, people in the political community, who would think too much is being made of coronavirus and others say no, no, this is very serious for the Global Economy and it will have severe impact on growth . Where would you put tim cook after speaking to him in terms how he looks at it . Reporter i would say very sober, no panic whatsoever. He sounds adamant as you heard in the sound bite, things are Getting Better in china, not getting worse at this point. By the way with apple shares trading at a 15 discount this might be an opportunity for the company to repurchase shares at cheaper price which we know they have been doing. When you repurchase shares that also lifts the stock price as well. Well be hearing from tim cook but from my sense what he thinks he has seen it before, he is the architect of their low inventory fast moving supply chain i dont get a sense he is worried at all. Melissa great interview and great job. Connell well see that full interview as susan pointed out tomorrow. It is on cavuto coast to coast and also on the claman countdown. Thank you, susan li. Melissa that gives you a lot of insight. Stepping up measures, the white house announcing additional individuals attached to the Coronavirus Task force. Blake burman at the white house. Reporter it is been pretty remarkable 24 hours. He held the press conference which he announced Vice President mike pence will oversee the task force to combat the coronavirus. President announced he would put for people on the Coronavirus Task force. Two from the economic side of things, treasury secretary Steve Mnuchin and chair of the National Economic council larry kudlow, along with two medical professionals, Surgeon General dr. Jerome adams and the top Government Official combating hiv aids debbie bixx. Then he went over here to chair a meeting. The president s whole of government approach, precisely the whole task force has been about but my presence here today, working with you each and every day in the days ahead i hope gives evidence of the priority the president placed on this work. Reporter now the Vice President also says after that press conference last night he ended up speaking with the top democrat and republicans, democrat leadership an Republican Leadership in the house and senate regarding the coronavirus spending package. Were beginning discussions over an additional supplemental bill. Well be leaning on the task force for guidance but those were productive conversations and very positive. This is the time when the president s made clear we want all hands on deck. Reporter part of the message from the Trump Administration continues to be as we heard from the Vice President and hhs secretary alex azar. They point to the cdc saying the risk in the near term is low. Melissa any sense of sniping back and forth between two sides of the aisle has gone down today as things get more serious, maybe more hands on deck or is that a facade . You heard there from the Vice President him talking about how he has spoken with nancy pelosi, spoken with Chuck Schumer as well. Nancy pelosi talked about it earlier this morning saying they think they are getting closer to the spending package which by the way were hearing might be 7 billion. The white house first said 2 1 2. Democrats mentioned 8 1 2. Behind the scenes theyre working to the end of the day. Those are the decisionmakers involved in this. The Vice President who president put in control and top two democrats in the house as well. Interesting listening to the hearing that the hhs secretary was testifying before today, alex azar coincidentally happened to testify up on capitol hill, you could see some of the democrats in the house ways and Means Committee going after azar, republicans trying to back him up, typical washington stuff but at the end of the day getting money to go forward which you see behind the scenes here is the Vice President , democratic leadership, Republican Leadership, all trying to figure this thing out. Melissa blake, thank you. Reporter yep. Melissa oil extending its slide settling down more than 3 in the red for the fifth trading day. Lets go to phil flynn. Phil . Oil tremendous demand destruction concerns. As bad as oil looks right now it is not as bad as it was earlier in the session. We got a report out of opec that saudi arabia will stop exports of oil to china, 500,000 barrels a day. Now that is almost like 500,000 barreladay Production Cut. It is coming out of it will go into Saudi Oil Storage but their storage has been depleted because the refinery attack earlier in the year. So this is like a cut. At the same time we did get a report from opec that they are confirming that theyre going to have a meeting march 5th and 6 and they are committed to getting a deal done to respond to the demand destruction from the coronavirus. So we are going to see some news out there. Whether or not the market is going to buy that will depend on the momentum in the stock market. If that continues to sell off it doesnt look like a Production Cut is going to bring confidence back to the market. Gold looked like it would be a safe haven play, looked like it would rally, silver was up, but later in the day we got more reports of concerns about coronavirus, when the stock market tanked there was no place to hide. So even gold and silver gave up gains. The only place to hide is in the bond market. That is where they ran into today. Melissa you bet in those patterns they kind of stick. Phil, thank you. Thank you. We worked more formally with the Trump Administration and continue to work formally and very collaboratively with the Trump Administration at all levels to coordinate and collaborate. Connell so coronavirus in the state of california now, centers for Disease Control confirming the first u. S. Case of unknown origin as they say, meaning infected individual as far as we know had not recently been overseas or interacted with anyone who had the virus. This is in Solano County which is rep sended by john garamendi, he joins us from capitol hill. Congressman, good to see you, tell us what you know, if anything about this case this, person, and what has transpired so far . Pretty much that has been reported. We know she is a woman. We know she contacted the disease somewhere in the community so they call it a community infection, not attributed to an individual known to be infected. She is in intensive care in sacramento at university of californiadavis Medical Center and we hope she will recover and be back in the community. Meantime, there is some questions that have been raised. I believe the governor raised his question or this issue in his press conference and that is that there was a question of why this woman was not tested early on . Her illness did not meet the cdc description of when to test. That description i think is out the window now and hopefully a new, broader protocol is in place. Also the testing kits really are not available. Some of the early testing kits that arrived in california either didnt work or gave a wrong outcome, falsepositive, falsenegative, et cetera. So we really do need good testing right away so that we can understand who might be infected and then how to go about dealing with that. Connell i mentioned you have been in contact with the cdc. You raised some issues you raised with us. What is the response . The last i heard is theyre working on testing kits. Yes, i hope so. They certainly are needed in california. The governor raised that point. That point was also raised by local officials, hospitals and others with whom we have talked. Connell at the same time, this is the kind of thing, you mentioned the governor, that he said and others have said, was inevitable in the country and probably in the state. So is there a danger we might overreact to a case like this as well . People hear the headline, she wasnt in china or the infected area . They tell us this is the kind of thing that is going to happen . Yes. It has been said for at least several days if not a few weeks this is inevitable. It is not likely to be contained. Therefore, what to do . There are lines of defense. The very first line of defense is you and me, the individual. Connell right. If youre sick, stay home. Whether you have this or anything else, if it gets serious, yes you need to present yourself at emergency room or additional thing. Wash your hands. Dont sneeze on people. Dont let people sneeze on you. That is the first line of defense. The second line of defense is really an important one and this is the Public Health programs in all of our communities. They need to be spun up. Connell so issue came up yesterday is money. Is it money, 2 1 2 billion is not enough, that is where the money would be spent or how do we even come up with the right number to spend on something that we just dont know that much about so . Well, we have history. You go back to the history of sars. Go back to the history of h1n1, in both those cases and ebola, there was a very rapid buildup. Money was put into the system. Systems were spun up into full operation from everything from detection at airports to Public Health organizations, hospitals, containment facilities in hospitals and the like, all of that was done. The episode declined and we went back to 400 to Million Dollars a year. That startup and shutdown is very, very disruptive of the system. Sew for us in congress we need to continue to provide a healthy level of support, not only for the cdc, but also for the Public Health organizations mostly in the cities or in the counties across the nation. Part of that is state money. The rest of that is federal money. We need in reserve, call it a reserve system of known experts that can immediately be brought to bear that can organize, go back to the command post, bring out the old playbook and execute against that playbook. Connell right. That is apparently being done here at the federal level. Good, it needs to be done at the state and it also needs to be done at the county level. Hospitals are clearly going to be needing assistance, financial ses stance. If this thing spins out into a fullblown epidemic, there is simply not going to be the facilities in the current hospital displace. Connell well continue to follow the case in your district in the sacramento area and all rest of it. Thank you for your time today, congressman. Happy to be with you. Thank you. Melissa combating the coronavirus, impact of a possible outbreak and the effect it would have on u. S. Students as japan moves to close schools to prevent the spread. woman no matter what business you are in, Digital Transformation never stops. Verizon keeps business ready for whats next. man we weave security into their business. second man virtualize their operations. third man and could even build ai into their customer experiences. We also keep them ready for the next big opportunity. Like 5g. woman where machines could talk to each other and expertise could go anywhere. woman when it comes to Digital Transformation, verizon keeps business ready. Connell now to Disney Hollywood classic that could take a hit in chinese theaters. The closing of 70,000 movie theaters around china for the coronavirus, that may create a big setback for disneys live action adaptation of mule mule mulan. The issue of here there, idea of people not going out. The ripple effects, erin . When this broke out we were worried about the supply chain and production and supply chain. This is about the Chinese Consumer, hitting because our earnings were such a Global Economy that we actual cared about whether the Chinese Consumer comes out. Disney is vulnerable. We still see the parks are closed. They have not announced any opening this movie was meant for the Chinese Consumer that could be a another hit for disney. This is interesting, we have to think about both sides. China is so much a part of bigger Global Economy and gdp. Connell obviously, terri, it wont be just china but other countries in asia where consumers will take a hit, probably already are, south korea, japan and the question, that has always been the backstop here, right . The consumer has held us up throughout all of this. Now the fear maybe that doesnt happen anymore. Is that your fear . Youre touching on the point that gdp is 2 3 consumer driven at least here in the United States and what you were talking about with disney there is obviously some brakes being put on consumer spending, consumer activities, certainly in asia, potentially right here even in the los angeles area, were starting to see that a little bit just because there is so much concern. What will happen. We dont know. Nobody really knows at this point. The question were getting asked what will this mean in terms of the investment market . There is not a lot of information we have on the fundamentals. Is this a short term issue, mediumterm issue, we dont really know at this point. The technicals are not giving as you lot of information because weve blown through a lot of the extremes. What we would love to see is some of the things you eye highlighted in earlier sessionments. That interview with susan li had with apple, if we get interviews tell us what is going on with the corporate level, that gives us more information, also the government level and that will help people feel more calmer what is going on. Melissa i have to jump in as the voice of reason. Not like people will suddenly start reading books because theyre not out at movie theater. In fact they will be at home streaming everything. Analysts are saying people more likely to turn to the streaming platforms or sign up for new Services Amid the growing virus fears and quarantines. Will netflix and disney plus see a significant boost . Terry, i got to be honest, people having to stay home, ah, netflix. It is not like were going not like well not eat, not do stuff because of this virus. One thing that could benefit, all these streaming services, what do you think . Sure. I mean the streaming services are one. 3m is another stock i keep hearing because they make the masks but all those are very shortterm plays. We would caution people jumping into those in terms of making a profit. Do they benefit a little more on the margin than others . Absolutely but i dont know they will stop the bleeding of the overall market what were focused on right now in terms of keeping losses in some sort of measured control for our investors. So, yeah, we like streaming as much as anyone else. I also like to read a book now and then. Melissa that also costs money. Erin, as human beings, as consumers everywhere, especially here but also in china, people dont stop spending money. They just spend it differently. Youre still going to eat. Youre still doing all these things. The streaming, online service, so your home, you set up more things, you sign up for more services. You never end the month with smaller bills. To a certain extent you may go out less more expensive than a at home which is cheaper. Could see spend on consumer side. When you talk about the streaming service i break them apart because netflix, yes, that is purely at home. Disney, a big part of their earnings are the parks which are getting hit because theyre not going out and disney plus is just a small portion of their overall earnings. You really want to do analysis of the company and be very careful. These are very shortterm plays. Look at Something Like hulu jointly owned by disney and comcast, saying comcast is the smarter bet when it comes to staying at home. This is the trouble with analysts, were still trying to figure out how widespread this is, how much people are going to stay home, how quickly they will go back to normal patterns of behavior . Where that pentup demand is going to be. Were still trying to figure it out. It is very early stages where we see the big hits. Melissa terri, erin, thanks to both of you guys. Connell, i have to say sadly, my family is awesome spending money when were at home. Going online, streaming things. People are buying stuff online. Were ordering food. When we go out generally to get everybody off the devices and outside. Well go to the park, do something, were spending less money than at home. I think everybody is overreacting to these days. I understand the concern. I understand the selloff in the market. Stocks were at very high valuation. I dont know two weeks from now well not look back at this to say it was really overdone. Connell erin made a good point on the other side of that which we dont know the timing of when that will be right . It could be two weeks t could be two months and that is probably what has people more worried than anything else. I dont think anybody else doubts there will comeback in the economy but maybe this is little worse than we thought, getting through this period, i said earlier you cant really tell how people how to behave. They do with the information what they are going to do. Even if you think it is overreaction but they still melissa i wish my people didnt spend a fortune home locked inside. Connell that is another issue. Overall the number is 82,000 are a little bit more than that, in terms of individual virus cases worldwide. Many people have recovered. But that is the overall number. You may remember the virus hunter on the show. At the time he was in quarantine. He is out of selfimposed quarantine. Well talk to him about the state of the outbreak right now. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. 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I do have concerns for the world and certainly have concerns for the economic consequences and social consequences of this outbreak. Different question. Melissa absolutely. So what is your, i mean what is your assertion what is going on right now . Do you think that it is spreading more rapidly than you thought it was . Is it, is it more dangerous than you thought it was going to be . How is your feel about the disease itself changed as a virus . It hasnt really changed. It was a new virus at this point. Its still one now. It was highly infectious. I think everybody has come to that conclusion as well. And its spreading now with asymptomatic, from asymptomatic carriers and people with very mild disease to others who are susceptible. I think the actual fatality rate that people are anticipating, at least in the field is going to be much lower than some people are talking about. So there are discussions of 2 mortality rates. As we begin to identify more and more asymptomatic disease well find its much, much lower. I would not be surprised if this virus didnt spread much more broadly within the global population involving, you know, perhaps as much as 1 3 of the worlds population. And there will be fatalities associated with that increase in the number of cases. Melissa so do you think that it is going to spread, if i understand you correctly, maybe further than originally anticipated but that the mortality rate could be lower . Do you think that people in new york should be concerned, other big cities around the u. S. . Are we taking the right precautions . Are people too afraid or are they not prepared enough . No i appreciate that people are concerned and there is no way to keep an infectious agent out of a nation using border controls. That said, some of the things that were trying to do visavis containment, by isolating people, i think will be effective. We need newer and better diagnostics and we need to vigorously work towards developing vaccines and drugs to be used to treat people who become infected and have manifestations of disease. So the Research Response is critical. Melissa when you see things like in japan, where theyre shutting down the school system, do you i that could happen here in the u. S. Realistically . I think it is very difficult to take anything off the table. People need to be prepared as some representatives have suggested. That this is something that we may have to confront. Im hopeful of course this wont be the case but we need to prepare for it. Just one more quick question before you go. The ceo of apple was on with one of our reporters earlier and said what he is seeing in china now, factories in his control have reopened. Theyre in the ramping back up stage, that he thinks things are improving in china. Is that the read youre getting as well from people there . Thats the read were getting in china but you know, there are new sites of infection around the world. So we have challenges in iran, italy and elsewhere and i can tell you Many Companies are having difficulty you know, keeping things under control. Youve seen this reflected in the equity market. Melissa absolutely. Dr. Lipkin, thanks for coming back. I appreciate it. My pleasure. Connell weve been talking about it, the response that to counter virus becomes the story. Well have more what theyre doing in japan in terms of school closures, whether or not that could happen here. Well talk about it when we come back when cravings come on strong, be stronger. With nicorette coated ice mint. Layered with flavor. Its the first and only coated nicotine lozenge. For an amazing taste. That outlasts your craving. Nicorette ice mint. [ siren ] doug for an amazing taste. That outlasts your craving. Give me your hand i can save you. 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Connell so in an effort to avoid, quote, largescale infection, japan announcing it will close all schools nationwide to late march trying to combat further spread of the coronavirus and closure of the schools impacts nearly 13 million students. Now this comes as a high school in Washington State today closed. This they said was a precaution after a relative of a staff member at the school became ill while traveling abroad. So you know, a lot of questions now about School Systems and what, you know, the future might hold in terms whether schools here in the u. S. Would close like they have in japan and rest of it. Alberto carvalo joins us, the miamidade school superintendent. Have you thought about this . Obviously you must have done some preparation for it. Forget about japan, for a moment. This example of Washington State, what is the line, we better close the school as opposed telling people to be careful . Where we sit today it is unlikely well be crossing that bridge anytime soon, probably even improbable but it is possible and the best thing we can do is actually prepare. Number one, enlighten the community. Bring awareness what this virus is, what it isnt. Now it is passed on from persontoperson. What are the liabilities. But most importantly what are the preventative steps that can be taken. Those things are common sense and welldisseminated across the country. We have protocols in place where were in direct and Constant Contact with the department of health. Right. And we have steps that we will take. Obviously those steps include not only a great deal of information it our teachers, to our students, to our parents, in the eventuality there is in fact a confirmed Case Associated with an employee or a student obviously we follow very rigid protocols that could lead to the isolation of the individual, could lead to the quarantine or isolation, segregation of an entire class and really serious cases could be actually the closure of the school. Connell of the school. You would do it very specific sounds like, as small as a class or even a person. Following here in new york city over the years there have been similar circumstances with h1n1 in 09, they closed a number of individual schools but entire system of urban schools. Would that be almost, impossible to do in some ways . There is some reasons we talked over the years, for example, how many children rely on getting their lunch at school. Just tough to close down a huge school system. Sounds like you would be very specific doing it. Absolutely right. We ought not overreact to right now in this part of the country, we have not identified a single confirmed case. Connell right. Secondly it is sequential and progressive number of steps we take in collaboration, coordination with a number of entities including the department of health. I cannot truthfully envision a case right now that would lead to closure of the entire forth Largest School system in america with half a million students. Connell right. That would be a serious blow to our local economy, if kids dont go to school, parents dont go to work, economy comes to a standstill. So it is a set of measures we take very, very carefully and very. Judiciously. Connell good perspective on all of that. Hopefully it remains a hypothetical. We appreciate you coming on. From miamidade. Melissa. Melissa fox business alert. Shares of beyond meat dropping afterhours the company beating wall street expectations but investors apparently wanting more. The company says it is planning a marketing blitz to promote the healthiness of its plantbased alternatives, pushing back on the central criticism that its products are heavily processed. Will it be enough for wall street. Who better to ask than our own david asman . Not a lot of good news on wall street and very bad news, these are the afterhours numbers. Today it was down 6 , more than 6. As you can see another 6 tomorrow. That is what expectations are in the afterhours. By the way i was very skeptical of the idea. I dont like the idea of nonmeat meat. To critics filled with a lot of junk, gmo products to make it taste good, they claim there is no gmo products in it. They are really clean. They will push the fact not only no meat but pretty pure and natural. Good luck to them. It is not my cup much tea but i hope they do well. By the way tonight on bulls bears we have a special show. The wonderful andy puzder will be joining us as a panelist for the entire hour. He has a lot to say about the markets and everything. We have a congressman, also a doctor, brad wenstrup. A member of the gop doctors caucus. He will talk to us about whether there is enough money in there, too much money devoted to the virus or not enough. Well see what he has to say coming up in just a couple minutes. Melissa look forward, david. See you at top of the hour. Connell markets really as weve been talking about from the coronavirus. Well chase the contagion across the supply chains of the world. Well find out how much more damage it might do. Well be right back. Ally from c. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. Including your Interest Rate right by locking in a fixed low rate today. And you can get your money right with sofi. Check your rate in two minutes or less. Get a nofee personal loan up to 100k. Connell u. S. Business owners with exposure to asia have been trying to move away from china sinces trade wars. This ghoabal out break is making it more clear, diversification is inevitable and necessary. A Business Owner is joining me now. Mark, we talk about this generally a lot, market experts come on say, supply chain, explain what your company does and how you have been able to mitigate the risk of being overly dependent on china. For our clients we develop prototyping through products for some of the manufactures and we do manufactures we have office in asia, europe and u. S. Connell in terms of how the offices make brown, many break down, many people are overly dependent on china, then Something Like this comes arouge, people say they are in trouble but you of able to get around how. Doubling down with the virus sittation, camp our Design Office out of missouri, Overland Park area. And we have our Engineers Office in taiwan and a supply chain office with your core manufacturing, primary manufacturing in asia is in the philippines,. Connell been able to avoid the virus, but what about office. The previous guests was talking china, that is about what we see a mitigation of that right now. Last week plants were 20 filled now they are 50 , we think by mid march, they will be full. Connell previous guest, tim cook. Who was on. Your point is you agree with him the worse of, from what you tell, worse is over in china. For the time, yes. Unless something changes it is fifth favorable. The people have not talked about logistic challenges, they are working through that with restrict you shoulrestriction o. Connell okay. Then we have to work through other countries including our own. Mark thank you. Mark donnelly, that backs up where we started the hour. Talking with tim cook. In china, maybe worst is over. Then, it fans out, we see other places we get stuff from, then see what hatches in u. S. , big selloff today, biggest point drop on the dow weve seen 1190. Connell bulls and bears starts right now. David stocks rocked, dow ending down nearly 1200, all major averages suffering largest oneday point drop in history, they are in correction territory on track for worse week since 2008 financial crisis, this is bulls and bears, thank you for watching, i am david asman. We go to trading floors with Deirdre Bolton at new york stock exchange. Selling act separate accelerating into close what happened. Reporter we close down on the dow, it was 1191. The most