Transcripts For FBC Mornings With Maria Bartiromo 20240713

Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy reporting surge in deaths, locking down Northern Region, closing borders. A quarter of the country quarantine. Dr. Oz will be here today on important things and when you travel you dont want to miss that. He will give us tips about traveling in uncertain moment. 2020 race is heating up. Senator Bernie Sanders securing endorsements an trading sharp words, mornings with maria is live right now. Some of the top stories we are watching right now. California preparing for cruise ship to dock in oakland with 21 passengers infected with coronavirus. Grand princess has more than 3500 people on board from 54 different countries. Governor gavin newsom tos concerns that any of the people in the ship will be released before 14day quarantine. Republican lawmakers, ted cruz and paul gozar selfquarantined. They are missing two votes, they are feeling fine but they did have contact with the person who tested positive for coronavirus in recent political conference at cpac. Neither showing symptoms but they will selfquarantine. Coronavirus topping 3800 people. 98 countries are now affected. Meanwhile u. S. Ridesharing Company Along with food delivery staples like door dash to compensate drivers affected by coronavirus. Uber tells the wall street journal that it will do the same compensating workers up to 14 days. In the face of all of this north korea launched shortrange projectiles into the sea overnight according to south korea military officials into the japan sea, the missiles were shot from the eastern coastal town. Flew 120 miles, appear to be part of drills underway since last month overseen by leader kim jong un and another possible setback for boeing. Faa reportedly going to electrical wiring fixes before 737 max jet can get off the ground again and into the air. Covers all the max jets produced so far. The faa pointing potential problems. Forced the planes to be grounded in the first place. We have serious market mayhem this morning. Futures are pointing to a sharp selloff at the start of trading, off coronavirus cases spiking across the klobuchar, Interest Rates plummeting. The virus concerns also weighing a price war between some of the Largest Oil Producer in the world. Take a look, oil prices right now down 21 at 32. 53 a barrel after opec wanted to cut production russia would not go along with it. Joining the conversation kings u. S. Management chief Investment Officer scott martin is here. Fox business Dagen Mcdowell and New York Post Editorial Board member kelly torrence. Serious selloff. It start with oil, dagen, when you look at what is happening in bond markets, you can understand why the selloff is severe in stocks. Dagen this is overnight crash. The crash and crude it actually heightens the fear that we saw in the bond market. Im not talking about the selloff in the 10year as well as disruption that we have seen amongst investment corporate debt or highyield debt because the oil prices persist particularly below 35 a barrel on west texas intermediate you will see companies defaulting on their debts. Some of the shell producers in west texas. So you Start Talking about defaults, that makes banks and people in the bond market less willing to lend and thats when people Start Talking about an economy that winds up flat on its back. Its all interlinked. As much as people will say, oh, lower gasoline prices are good for the economy, its good for transportation, fedex, ups, the airlines, well, the airlines are cutting the number of seats theyve got in the sky, cutting capacity and so they dont really benefit in this coronavirus environment from these lower energy maria hard to fine a Silver Lining. Scott rates too and dagen is talk about things that remind us as previous crisis, when it comes to bank not being able to lend and not finding reasons to lend and thats the bread and butter of our economy. One thing thats disturbing with respect to where this all started, the selloff, it started overseas a couple of weeks ago and moves to the u. S. And we talked about the Coronavirus Impact and the consumer. This is one impact thats starting to roll into other things as dagen said. Its oil, its in banks. Who know what is is next . I think one interesting today gold is down after being up overnight. Massive liquidity driven environment that we will see especially given this morning and theres other places in the market that this will get to and its just begin to go spread. Maria the other issue which stephanie has brought to us the fact that theres so much leverage in the corporate sector and Robert Kaplin said last week that this is one of the things hes going to looking at. You have a situation as you say with Oil Companies if they are going to get squeezed and they will start thinking and we will start thinking about defaults, that could trigger bankruptcies and other credit busts and that could spiral out of control you dont want to see Something Like that. Dagen the probability that Congress Enacts fiscal measures is now increasing, tax rebates and policies aimed at ensuring credibility to Small Businesses likely to become a priority for congress and if this gets much worse i guaranty you, theyll be calls for bailouts by the government for travel and leisure companies, some some ofe Oil Producers if this doesnt get contained, but, again, its all on the government to get their arms around even just testing this virus so we know how widespread it is and this is, maria, i think the first person who brought up the testing issue. And goes back to who has the virus and basically how much of a standstill does the economy does our country need to come to in order to fight it and we still dont know the answer. Maria thats why we are expecting the numbers in terms of the coronavirus to spike huge. Ive been saying tens of thousands, 10,000, tens of thousands, hundreds of thousands, thats where this is going because as we continue to see the tests get distributed across the country we will see more cases and thats why we shouldnt get scared when we hear hundreds of thousands of cases. Thats where this is going. Hundreds of thousands cases in the next couple of months to a year. Kelly youre right, maria, im trying to find a Silver Lining here. When you have low prices, might stimulate demand. You know, theres going to be opportunity even if they cut dividends. Oil companies are still going to be paying more than bonds. Warren buffet decide to use half at 50 billion. Theyve been oil has been around 7 even if they cut still opportunities are coming. But people in this environment dagen Goldman Sachs when they were talking about s p 500 earnings per share. If this contagion lasted for a extended period of time earnings per share for s p can falls 3 and that would take the s p by year end down another 17 and a half percent. Scott multiple compression. Maria the banks said, look, we are talking about zero earnings of the s p 500. Scott sounds great, doesnt it . Dagen they are looking ahead and said could be a lot worse. Maria lets take a short break. Tough day for markets, oil plunging to lows that we have not seen since gulf war. Dr. Oz is joining me this morning to talk about how to stay healthy and stay safe while youre flying during this Coronavirus Crisis, plus super tuesday part 2, we are look ago head to tomorrows round of primaries. Jarome powell is joining me, the very latest coronavirus numbers and what you can expect to protect yourself. Amazon hopes to spread the wealth with this new store. New meme featuring Elizabeth Warren goes viral making a buzz this morning after this. Liberty. Liberty. Liberty. Liberty. Yoall this grass. All this mulch. All these projects to do. You need a tractor that can do it all right. You need the 1 selling subcompact tractor in the u. S. The versatile kubota bx series. I think i found my dream car. She can stay with you to finish her senior year . So much for the empty nest. Things will be tight, but we can make this work. Thats great. Now. [ gasps ] grandpa, what about your dream car . This is my dream now. [ laughs ] principle. We can help you plan for that. Start today at principal. Com. Maria welcome back, we are watching a serious selloff underway in wall street this morning. 1,250 point selloff right out of the gate for the open, the dow industrials, nasdaq down 410 points and s p down 145 points. The sock market is reacting to the oil market, oil is the big story this morning as well as Interest Rates. Thats really what stocks are reacting to. Oil prices plunged after saudi arabia cut prices. As you can see, last week we told you that opec wanted to cut production. The russians would not go along with it. The saudis cut prices, this is a fight between russians and saudis. 31. 91 a barrel. This is a serious selloff in the price of oil. The yield on the 10year treasury falling below half a percent. Take a look where the 10year is. Extraordinary number down 30 basis points. Joining us michael lee of michael lee strategy, whats the strategy, michael . We are on fullon panic. Its just wild. If market sells off when oil goes lower. The price of oil is not driven by economic demand as you can see today mostly driven by saudis and open cartel. This is underlying good news with the price of oil going down. The energy sect o that will feel pain is the smallest sector in s p 500. We would like to see them do well. This is positive for the u. S. Maria positive but what it can trigger is the negative and when you have oil prices at these levels as dagen mentioned earlier, this can be a serious situation for the Companies Facing debt and then default and then the crisis in theory but there are willing players like warren buffet sitting with piles of cash to swoop in and take companies. We went through years ago. This is hysteria right now. What i think is underlying dagen might be but we are trying to explain investors why the broad market is reacting to this and not oil markets defaulting and also concerns about travel and leisure companies, directly hit by the global coronavirus. Thats why the market is panicking and it is panic but these are very real concerns about whole industries, lets talk about the insurance companies, watch those because who say the hotel chains and the airlines bought insurance from to cover Business Interruption . So what i can say is markets can handle good news and markets can handle bad news and what markets cant handle and what youre seeing right now is uncertainty. We dont know if this is onequarter event or 3business quarter event. I tend to thinks or 2 business quarters and then start to get some news that the sun is coming out, you know, you know, tomorrow is going to happen and when that happens the market will absolutely take off. We will look at a series of unprecedented fiscal and monetary stimulus. Scott we had a major panic in february of that year, oil at 20 for a long, long time, dividends being cut, et cetera, guess what, oil rebounded and came back up and dividends werent cut. I agree with you, dagen, coronavirus scare on top of all this is a tough thing to surmount. Maria you mentioned report by congress, could be 1 to 2 of gdp. A fiscal package from congress as much as 1 to 2 of gdp in response to coronavirus. Maria, why wouldnt the government fire every bullet or fire every shot they possibly can right now . When you can quantify the damage and the Recovery Time i think the markets makes new highs, that could be as long as 2 years from now. We will enter one of the oversold conditions we have ever entered. The markets is higher and like 95 of the time the market is higher one year later. Maria are you buying into this selling then . Do you want to look for opportunities in todays selloff . Absolutely. You the 30year treasury paying you 90 basis points, less than half of a dividend of s p 500. Where are you going to make more money in the next 10 years. This is hard. Everyone says you have to buy low and sell high. Keep a little bit of cash but go out there and look around. You know, dividends might get cut but even cut in half theres still a lot of place to play. Look, this is unsettling, reminds me of the financial crisis, working at mortgage stanley when stock closed 6 00 on a friday and dont know if you have jobs in the morning. These unsettling times maria i agree its better on the other side. Michael, good to see you. Michael lee joining us. A city rebuild, Church Service in nashville amid the rubble. Back in a minute. [ fastpaced drumming ] [ fastpaced drumming ] its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria welcome back, take a look at market this is morning. The Administration Working on measures to support workers affected by the coronavirus. Some of the proposals deferring taxes for airlines and cruise companies, possibly expanding paid sick time. Dagen, these are the very groups that have most vulnerable right now. You could imagine what the earnings are going to look like or not look like actually by the way for Airline Companies in 2020. Dagen yeah, i think if this persists, the crisis, if you will, particularly in this global that it will the airlines, travel and leisure companies, the Energy Companies we are talking about are going to need even more than just the ability to defer their taxes and paid sick leave and paid sick leave would help a lot of people in the Service Industry who live, you know, who are living paycheck to paycheck and they would struggle to pay their bills, you dont want them going to work if they are sick but a lot of people are left behind a rock and a hard place but tough long run because we have 23 trillion in debt and 1 billion 1 trilliondollar annual deficit. This is the reason you dont run up these kinds of numbers when times are good because you need to be able to borrow the money and able to borrow it at low rates and eventually have taken on so much debt and when Interest Rates go up then youre in trouble. Maria putting the bond market issues and the Interest Rate issues aside, when you dont know where this is going, at this point the market is not sure what we are talking about the earnings pictures and the Airline Companies. Theyre selling. Scott as humans we remember the really bad times, remember 08, remember 2011 post terrorist attacks, we remember some of the issues that the Agency Currency crisis in the 90s and 87, we automatically go there. Markets frontrun everything. Theyre already thinking of the next shoe to drop and the next shoe after that so when we are in driven market like mike lee maria when was a company like exxon mobile fall down 11 . These are very cashrich strong Balance Sheets. These are not the companies that we are talking about default. Exxon mobile. Smaller Oil Companies, but the stocks are looking at reactions like there would be a possibility of upset here. These are not the companies we are talking about that could default, exxon mobile. Kelly thats the thing. Theres all the uncertainty. The White House Congress need to be careful because we dont know whats going on. They want to have a bunch of stimulus, we dont know. Of course, political ramifications for the elections, states like pennsylvania, new mexico, i think the president has to worry about layoffs there. Maria yeah, for sure. We will take a break. When we come back we are talking a quadruple loss, futures are hitting limit down. In other words, you cant sell anymore. 255 points on the dow. We will watch markets for you. When we come back its super tuesday part 2 tomorrow. We are looking ahead of tomorrows primaries as six heads states to the polls. Would the Market Action impact things . Stay with us. Maria welcome book, good monday morning, everybody, thanks so much for joining us. Im maria bartiromo, tough day at the office this morning, top stories 6 31 a. M. On the east coast. Market mayhem under way this morning. A massive Global Market selloff. Take a look at the numbers. Futures indicating, futures trading limit down eventing any decline larger than 5 . Declines at the open will be worse than that. The tow Jones Dow Jones industrial average down, the s p down 145 points here. 5 . Oil prices are plummeting this morning. Main stories this morning and why the market is selling off. Saudi arabia is launching a price war after russia said that it would not agree to any Production Cuts which opec proposed last week because russia will not go along with the Production Cut to boost oil prices higher, this market is collapsing. Oil prices down 22 on the price of crude oil. Big Oil Companies under severe pressure this morning. Stocks like exxon mobile down 11 , chevron down 11 . Bp down 18 . Interest rates are also dropping like a rock, take a look at this, 10year treasury down, dropped below 4 tenths of a percent overnight and bounced off of the lows. This is the decline of the 10year of 30 basis points right now. The 30year also falling below 1 and the first time thats happened in history. Now 30year yield, deep selloff in europe. The cac quarante in paris down 321. 6 and a quarter percent and the dax index in germany down 700 points, thats 6 as well. Chinese experts tumbled 17. 2 in january and february. More signs of trouble in japan as well. The Fourth Quarter gdp, revised down, showing the economy in japan shrank 7. 1 from the previous quarter. This is contraction in japan. Nikkei average now 4 , shanghai composite down 3 . Ebay making drastic changes amid coronavirus fears as well. Cheryl casone with that angle now, cheryl. Cheryl ebay is banning the sale of masks, dis infectant to help price gouging. Other ecommerce platforms including amazon, walmart and etsy have not banned sales but have taken sales to remove misleading items and, of course, they talked about gouging there. Amazon expected to announce an existing line. Itll be different from amazon go stores. Customers will enter credit card and scan in the app, items to be added to virtual cart before they are billed. And then theres a day after a tornado destroyed their tennessee church, worshipers headed to sunday service amid the rubble. Cheryl National Church setting up a prayer tent out in the parking lot. The church was 135 years old. Also a benefit concert is going to be held tonight for tornado victims. Tickets for to nashville with love sold in under 2 hours, wendy carlisle, all, maria, performing tonight in support of those victims, back to you. Maria all right, cheryl, thank you. We have a primary countdown underway as well. 6 states are set to hold democratic primaries tomorrow. Taking shape to be the two person joe biden and senator Bernie Sanders, both candidates spoke out on the weekend making their case to voters, watch. We need delegates and National Vote and come tuesday, mississippi is going to get their say. Now that it is a twoway race it is important for the voters of this country to ask themselves two questions number 1, which candidate is stronger in terms of being able to defeat trump and number 2, what are the differences. Joe has been in washington for a long time as have i. Maria california senator and former candidate Kamala Harris threw her support behind joe biden and civil rights activist announced hes backing Bernie Sanders. The race to watch tomorrow is michigan. Sanders hopes to win the state again after he beat Hillary Clinton remember in 2016. Joining us right now the Washington Free beacon matthew. What are you expecting from now calling it super tuesday too tomorrow . Mini tuesday which i guess makes this mini monday. I think we do have a twoperson race, maria, and thats exactly what Bernie Sanders did not want. He had goodwins when it was a multicandidate race when it was a bunch of different splitting the vote. As you mentioned it it went to bernie in 2016. Maria states like michigan, wisconsin that were really helpful to donald trump in 2016 . The Trump Campaign will certainly be watching what happens with the turnout tomorrow but, matt, i want to ask you, former colleague. I want to ask you looks to me like neither of those guys is going to have, you know, enough to win it outright before the convention. Do you think theres going to be any trouble going into there, a big fight between the two of them . I think a lot rests on what happens in michigan. If biden does win definitively in michigan tomorrow and if he pulls upset in Washington State the chances of him having majority of him having majority in convention are very high. The second most possibility bernie is able to score in upsets and fight biden to a draw, denying biden a majority. Even if that case, though, as long as he has more delegates than bernie, i think the democratic establishment will be more than happy to give biden the nomination in july. Dagen yeah, dagen, i want to get your reaction to this. The campaign spent 12 million on Television Ads michigan, missouri, mississippi all heading to the polls tomorrow but i had Kevin Mccarthy on the program this weekend, the gop leader who made some comments about joe biden and what it tells you about the Democratic Party right now, listen to this. Remember what they did to Bernie Sanders four years ago, the chair of the Democratic Party had to resign because they found out they were creating. Cheating. They got klobuchar to back out and buttigieg to endorse beforehand. But the one thing they have to understand and looking back as a republican nominating joe biden is the same thing as republicans nominating mitt romney. It may make the establishment feel good but you have no chance of winning. [laughter] maria wow. That was a twopart punch there. One purge toward romney, dagen. Dagen its the voters and quite frankly the voters came out on mass and voted for Joe Biden Super tuesday. He won rural voters, appalachia voters, middleclass voters and the turnout was almost in state of virginia than 2016 and dave from the phone partisan Cook Political Report says for Bernie Sanders to win michigan he would have to do much better than he did in demographically similar parts of minnesota, maine on super tuesday and even if he wins michigan narrowly its not going to do much to alter the trajectory of the delegate race but use have states like florida, georgia, maryland, mississippi, new jersey and connecticut that could all fall in line for joe biden. Thats right, on the other hand, we thought joe biden was a goner a few weeks ago and he came back. I never really kind of eliminate any possibility, i will say this, what we are finding from democratic voters is they are putting priority on socalled electability. They want to find candidate that has the best shot of defeating trump in november and thats why theyve made the hard turn away from sanders after nevada and toward biden before South Carolina and super tuesday. As Kevin Mccarthy was pointing out, maria, voters back the electable candidate in 1996 and democratic primaries in 2004 and republican primaries in 2012, all candidates went onto lose in november. Dagen vote against socialism. People woke up when they heard the cubacastro comments and people. We remember the cold war, we remember the atrocitieses inflicted by leftwing tyrants and voters in michigan i doubt will vote for someone who will take away health care which theyre in a union. Maria i dont think its good for the democrats to be running on this idea that we are just running to take down donald trump. What is your platform . What are you going to do . We know what Bernie Sanders is going to do and its not working. What are the others going to do other than take donald trump . Matthew, they need a better plan in terms of in terms of attracting voters today real quick we have to jump. That looks pretty good when we are having flight to safety but six months from now might look different. Maria matthew, thank you very much, matthew contenetti, jarome on coronavirus and what you can do to protect yourself. Prince harry and Meghan Markle spending their last days as royal couple. Its making a buzz when we come back. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Maria welcome back, coronavirus, more than 400 cases confirmed in the United States, joining us u. S. Surgeon general, jarome adams. Dr. Adams, thank you for being here this important. You are the faces doctor, tell me what you believe to be most important right now . Well, what i think is most important for folks to know that we are shifting from a containment posture where we are trying to keep the virus out of communities to one of mitigation that we are trying to help people understand that we have community spread. Corona virus as you mentioned in over 30 different states and we want people to know those at risk, those with chronic medical conditions and older people and most importantly, they should wash their hands frequently. They should stay away from crowded places. One of the things that you may have seen yesterday cdc is recommending that older people, people with chronic medical conditions avoid cruise ships. We want them to understand the data says that if you are over 80, you are much more likely to die, if youre over 60 more likely to need medical attention but people under 50 tend to do well, tend to have just a mild cold or flutype illness. Maria we are expecting the number of cases to really spike in the coming weeks . Exactly. Maria at least 21 people have died. The common flu infected 45 million americans since october, killed as many as 46,000. We are seeing real factor when it comes to coronavirus because we dont know enough about it. Are you expecting the number of cases to spike as ive been saying up to tens of thousands, hundreds of thousands in the coming months . We expect the number of cases to go up rapidly, to be honest with you. That said, we saw them go up in china but the reassuring news is we saw, we are seeing cases start to go down in china so we feel pretty good about the fact that if we do the things that we know from past experience with sars, h1n1 will limit spread person to person virus like coronavirus that we will see a speak but cases starting to back down again but i want the American People to know this will, in fact, get worse before it gets better, but most people will have a mild illness and if we really Pay Attentions to who is most at risk we can help protect the most vulnerable. Maria we should understand that as the number of cases moves up into the tens of thousands eventually hundreds of thousands, we should not get alarm bid that because it is it is a reflection of the fact that we are just testing more. The cdc produced huge quantity of test kit that is were dispersed across the country during swine flu and zika virus scares. Why are we seeing shortage of testing kits. What happened here . I know the cdc sent out the test kits to 50 states and then said, wait, dont test anybody, they are defective. Now do we have our hands on the right number of tests or are we Still Limited in terms of tests . Well, we will definitely look back and see what we can improve for future responses, but what i want people to know right now is that as of today we have the capability to test over about a Million People in this country by the end of the week through partnerships with private industry. We expect to believe able to test several Million People and we talked to Health Departments around the country. The honest truth is that at a Health Department level we are not hearing about shortage of the actual test being a problem so much as we are hearing about the local capacity to be able to test to be an issue. So this week we are really encouraging state and local officials to lean into going into cdc. Gov and helping providers how to test for coronavirus and what types of protocols to have in place. We want to get to a place where anyone who who doctor says need a test can get a test. From the Federal Point of view we are making sure that testing is getting out there this week. Maria you said a minute ago that if youre above 80 higher risk of death and above 60 higher risk of getting sick and needing real care as opposed to others who are 50 or under who might just get flu symptoms. We had a guest on last week talking about nursing homes, starkly vulnerable to coronavirus. What are we doing nursing homes, hospitals . I said stay out of hospitals because thats where you can get coronavirus. Well, one of the things that cms the leaning into is really reaching out to fusserring homes across the country making sure they are lifting infection control. Cms is sending special inspectors in places that are hot spots Like Washington to make sure cleaning is happening appropriately and not spreading patient to patient and protecting our most vulnerable. Thats what we will be doing this week and doing it all along and reaching tout Healthcare Facilities to make sure they know how to keep people safe. Maria we appreciate that. Dr. Powell. Happy birthday to my wife lacy. Today is her birthday. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. How you watch it does too. Tv just keeps getting better. This is xfinity x1. Featuring the Emmy Awardwinning voice remote. Streaming Services Without changing passwords and input. Live sports with realtime stats and scores. Access to the most 4k content. And your movies and shows to go. The best tv experience is the best tv value. Xfinity x1. Simple. Easy. Awesome. Xfinity. The future of awesome. Maria saturday night live Kate Mckinnon senator warren making flip the switch challenge, two people trading places while the drake song nonstop plays. Copycat memes one featuring j. Lo and alex rodriguez. Dagen, what do you think . Dagen jay lot has a better shot of becoming President Trump of president of the United States than Elizabeth Warren. You have to watch kat timpf. Scott dances like her . Dagen she was impersonating her. I tweeted the video. Maria you have to give Elizabeth Warren for doing that. Royal farewell Meghan Markle and harry, first public appearance since the couple decided to exit the royal family. The pair will go on farewell tour. Official duties end on march 30th. There you have it, kelly. Kelly who knows after this when they will be back. I have to say Meghan Markle complained a lot about the press against her. I said something vaguely critical of what her people were putting about the other royals. I got ratiod on twitter. Dagen shes an actress. Guess what, fake tears. Scott okay. Maria ceos reportedly spending thousands, ancient chinese practices all about bringing positive energy through interior design. I like it. Scott yeah, look, it would be great if people actually say in a few weeks actually going to the office because people are going to be staying home so i guess they will have a lot of time to make them absolutely perfect because nobody will be there. Maria youre right. Unfortunately companies are making plans to have their workers work from home. Scott i think its a little bit way extended and its Something Else too, maria, spending thousands to do this so the money can be used for other things. Maria we are looking at a quadruple digit lose. Down 1200 points. We are watching it. We have more on the other side of the break. Maria welcome back. Good monday morning, everybody. Thanks so much for joining us, im maria bartiromo. It is monday, march 9th. Your top stories right now, 7 0. Get your seat belt on, weve got market mayhem underway on wall street. A Global Market selloff right now. Futures are trading limit down, meanwhile the Dow Jones Industrial average is down 1,255 points, limit down prevents declines larger than 5 . So there are Circuit Breakers in place to keep things calm and orderly. The declines could be a lot worse at the opening of trading. Were looking at limit down with the dow down 5 , nasdaq down just under 5 , same with the s p 500. The trigger for the selloff this morning is the price of oil. Oil prices are plummeting because saudi arabia has launched a price war after russia said it would not agree to any Production Cuts which opec proposed last week. Oil is seeing its worst selloff since the start of the gulf war in 1991. Oil prices down 23 , 31. 74 a barrel is the last trade on oil. These kinds of numbers could cause defaults in the oil market and that is really what the worry is in terms of equities. Yields on treasury also dipping below 4 10 of a percent earlier. Take a look at this, yields are dropping like a rock. 10 year treasury at 0. 456 , down 31 basis points, even the 30 year is falling below 1 for the first time in history this morning. The 30 year yield is at 0. 870 , down 42 basis points. The whole market nowhere to hide. Big banks are under big pressure, concerns are growing about the Global Economy. Investors are looking for the Federal Reserve for another rate cut. Theres a lot of speculation that congress could come up with fiscal stimulus because we are expecting a sharp slowdown in growth. Global markets, deep selloff in europe. Big banks and the european indices, you see the same. Fq100 in london is down 372 points, the cac in paris down 344 points, 6 andahalf percent, dax index in germany down 750 points, there too, 6. 5 . In asia overnight, red across the board. Chinas exports came out, tumbled 17 and a quarter percent in january and february, more signs of trouble in japan as well. Fourth quarter gdp there revised lower, showing the economy in japan contracted 7. 1 from the previous quarter. Of course, the Coronavirus Crisis is also among the worries, the cases in the United States and abroad growing. The white house reportedly looking into emergency measures. Italy is on lockdown, reported a surge in deaths. Theyre locking down the Northern Region by closing borders in italy. Dr. Oz will be here later on this hour with tips on staying healthy at home and when you travel, dont miss this, because if you are planning on travel, you want to hear dr. Ozs tips on that. The 2020 continues to heat up. Tomorrow, joe biden and Bernie Sanders securings endorsements and trading sharp words ahead of the michigan primary tomorrow. Mornings with maria is live right now. And markets the big story this morning, showing the limit down has markets down about almost 5 across the board. This on top of fridays close where we actually saw worries throughout the market but it was volatile and by the close on friday we actually ended off of the worst levels of the day. Some of the top stories this morning, california preparing for a cruise ship to dock in oakland, california with 21 passengers affected with the virus aboard the ship. The grand princess has 3500 people onboard from 54 countries. Governor gavin newsom working to ease concerns that any of them will be released before a quarantine. Republican lawmakers ted cruz and paul gosar are self quarantining and missing key votes. They said they were feeling fine after contact with a person who tested positive for coronavirus at a recent political conference. Neither are said to be showing symptoms this morning. Italy locking down 16 Million People in the northern part of the country. Officials at disneyland paris checking on staff after one worker tested positive for coronavirus. The park remains open there. The coronavirus death toll is topping 3800 people with more than 109,000 cases reported worldwide affecting 98 countries. We spoke with the Surgeon General. He said the risk of death increases for people above 80 and the risk of serious care in terms of getting sick, risks above 60 years old. As spring break approaches, florida attractions are keeping an eye on the outbreak. Disney world officials have released an action plan if a visitor is found to have the virus. Mike pence is stressing that it is still safe to travel in the United States. The Vice President did, however, stress that seniors and those with underlying medical conditions are at most risk. They are saying avoid cruises. Last year the city of orlando attracted 75 million visitors. Happening overnight, north korea launched at least three projectiles in the second weapons test in a week. The projectiles flew for more than 120 miles before dropping in the sea of gentlema japan. This is two days after north korea threatened mo momentous action to those who object to military drills. Oil prices are plummeting amid a clash between saudi arabia and russia. The saudis cut prices after no deal was reached between opec and nonopec countries on Production Cuts. Joining us now the former president of shell oil, john huffmister. We have a serious selloff in many of the Oil Companies this morning as we watch Oil Prices Plummet to the 33 a barrel level. Tell us the implications of this, john, and how Oil Companies, perhaps with a lot of debt, may get impacted here. Well, this is raw politics at its worst. A communist dictator not going to have terms dictated to him, a sovereign who is basically throwing his toys out of the pram because hes so upset, and both are pretty upset at the success of the u. S. The success of the u. S. Has come at a cost because there are many Smaller Companies, highly leveraged, and they are counting on a much Higher Oil Price for their loan repayments and their actual cash flow and so this is going to be very tough on some companies, maria, and they just need to button down. Weve been through this before. This industry is not for the faint of heart. People who understand this industry never go into a Business Plan without a low Price Scenario, as well as a high Price Scenario and a hoped for Price Scenario. For the majors, im not worried because theyve been through this. They know what to do. They know how to cut costs. They know how to rebound to this, slow down capital spend, et cetera. For the Smaller Companies and particularly for the Oilfield Services who will feel the brunt of the cutback in Capital Spending, this is going to be a tough road to hoe. Maria the companies youre talking about, this is exactly what countries like russia want to see. They want to see those Oil Companies that have been leading the fracking revolution here to be financially broken and thats what could happen if youve got all of these Leveraged Companies counting on a certain price of oil, now down to the 30 level. Thats right. This is a direct attack in my opinion by putin against the success of the american industry in the face of all the sanctions that he and his country have felt, because of u. S. Success. So this is the worst form. Hes not going to back off because he doesnt have to and inflicting pain on his own people is not really his top priority or concern. Maria thats what i said to the group during the commercial break when i said remember during the financial crisis when we heard reports of the chinese and the russians getting together where the leader of russia said to the leader of china, now is the perfect time to start selling some of these securities that we own of the u. S. , to pile on and create and make the situation even worse and thats exactly whats playing out. Yeah, to further the pain. As you point out, theres a lot of scary tactics going on with respect to whats happening with russia. One thing you mentioned that i think is a key point to take away is the capital restructuring that could occur here, maria and i and dagen and kelly have been talking about the debt instruments in the oil side of things, they can restructure some of the Balance Sheets and some of the operations, cash operations too, john, going forward, if they have to cut dividends to help service that debt, correct . Yes, they can, although i think dividends have been under pressure for quite a while so its not like theres a huge amount of flexibility. We know the banks have been getting hard over on the industry and so its going to be a lean time and the strong will survive, the weak will probably go through a period of rationalization. I think well see fewer companies coming out the other end of this. Dagen john, its Dagen Mcdowell. In terms of help from the federal government, what could assist these companies in the short run . Deferred tax payments . Seems like it would take more than that. Yeah, im not sure the industry really wants any kind of a federal bailout. There may be individual companies that might like something, but the industry doesnt really from a reputation standpoint, doesnt lean towards any kind of governmental help. They know how to take care of themselves by and large. If its offered, some may take it. But i think many would just say no thank you. Maria its interesting to look at saudi aramco. The stock is below its ipo price. But pretty much saudi aramco was the one who cut prices to get back at russia. So here you have a company plummeting by its own decision making, john, because they say oh, really, russia, youre not going to go along with opec cuts, then were going to cut prices. Anyone that invested in saudi aramco should know that they did not invest into a free market. Anything that is controlled by the kingdom of saudi arabia is not a free market economy and its going to be youre subject to manipulation. So getting the value back that people have surrendered over to the kingdom, i think is going to be a real struggle, at least for the foreseeable future. Maria do you have concerns, john, about investing in credit in the energy space right here . You were just talking about some of those drillers and those Service Companies that are relying on a certain price of oil that is way higher than we are right now. We could see defaults there. So whats the worry in terms of investing in credit, in energy . Well, youre going to have to be very selective and look for those companies that have a strong Balance Sheet, that have a history of adapting to low price the low price world of oil, because thats what were into at least for the foreseeable future and until moods change or opinions change. But, yeah, i think you need to be very selective, take good advice, dig into peoples books. The recent occidental deal is going to be problematic i think because it was predicated on a rising oil price, not a falling oil price. So occidental and its disposal of assets, theyve got a rough patch ahead of them. Maria all right. Were looking at even the big Oil Companies get caught up in this, john. You were the former president of shell oil. Youve seen lots of cycles, john, yourself. When you see exxon mobil down 11 , chevron down 12 , do you see this as an overreaction . Yes, and i see it as a great buying opportunity for the patient investor who is in it for the long term. We went through a 10 debacle in the 1998, 1999 period and came out the other side and made a lot of money for investors over the next decade andahalf. And it was really the sovereign nation of saudi arabia that took the industry down in 2014. And we havent fully recovered because of the damage done by what i think is a very naive crown prince who really doesnt understand how the industry operates and his own Sovereign Fund in the kingdom has suffered might ely because of it and still hasnt recovered to what it once was. This is bad management on the part of a monarchy. Maria its a great analysis. John, wonderful to have you this morning. Thanks very much. Thank you. Maria well be watching. Were going to take a break and watch these markets. Weve got a primary contest happening tomorrow. Coming up this morning, we are going to look at michigan, crucial democratic primaries, voters headed to the polls tomorrow, whats called a mini super tuesday. We have facts on flying, dr. Oz is here discussing how to face healthy during traveling. Inside chickfila, a company heir joins me to talk about the recipe for success. Dont miss that and of course markets coming up, right here, dow industrials down, limit down. Back in a minute. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. 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 narrator he loves monday through friday but lives for the weekend. Hes put some miles on his truck, and now its time for something new, so he came here and saw what other people paid for the same truck he wants. Now he can recognize a great price. It was so easy, chet was in and out and got right on back to the life he loves. True car. Buy smarter. Drive happier. Maria welcome back. Bail reform, triggers rising crime in new york city. The nypd reporting a 20 increase over the first two months of the year compared to 2019. I spoke with andrew cuomo on sunday morning futures this weekend about this controversial issue. Bottom line, will you propose or support that judges have the discretion to let out criminals as they see fit and change this bail reform situation which has caused crime numbers to go shooting up . Look, bail reform for many years was based on how much money you had, maria. Thats what cash bail is. If youre rich, you get out. If youre poor, you sit. Thats an injustice, not justice. We made that change. Were going to make more changes. I understand the fear. I understand the criticism. I said that im working on it and i believe were going to get something done in the budget on april 1. Maria so hes making a promise here that theyre going to make a change come april 1st, dagen. Weve been talking about this now for over a year. Look at these numbers. Shootings up in the double digits, felonies up in the double digits. I mean, this is actually serious having an impact. Dagen look at these numbers. Maria yeah. Dagen how much more crime do new yorkers have to tolerate and, again, this is a new York City Police department but youve had a spike this was in january as well. Particularly things, crimes that dont that you dont have to put up bail that you dont go you get written a ticket and you dont go to jail, robbery, 35 increase, burglary up 21 . How much more of this do the people of this state need to tolerate, because in one afternoon i was chased by two mentally ill people down a street in a residential neighborhood where one person one man threw a giant metal sign at me and so its not just me. It is people throughout this city. You are not protecting the people of new york city and new york state and its disgusting. Maria i know. It is disgusting. Because this bail reform has allowed criminals back on the street. I mean, there are stories of one guy who was arrested and then let out and then he went on to rob three more banks, you know, a punch in the nose is apparently nonviolent. Exactly. I have to push back on Governor Cuomo there. Its not just about money. He says if youre poor, you stay in, if youre rich, you get out. No, when judges have discretion, they can keep people in who they think are violent and likely to commit more crimes. Thats impossible judges dont have that discretion, it doesnt matter if youre rich or poor, they cant do anything. I have to push back a bit. Hes going to fix wit the budget . So for people who dont know, the budget is a process thats basically cuomo, the leaders of the state assembly, the house and the senate, all democrats, this is exactly how we got bail reform in the first place is this secret process that didnt go through regular legislative process. It wasn went through the budge. Maria thats such a good point. He is putting out data as if thats some kind of resolution. We also talked about the issues hes having with Homeland Security, new york the only state that will not allow the feds to see the dmv data. We talked about the trusted Traveler Programs like global entry. Listen to this. Now a lot of new yorkers are in jeopardy of losing the trusted travel programs like global entry. Where are you on that, sir . We have undocumented drivers. Dhs, department of Homeland Security, customs and Border Patrol wants access to our undocumented drivers. Maria right. I cant give them access. Theyre holding the trusted Traveler Program hostage until because they want me to turn over the customs and Border Patrol undocumented people. Theyre holding it hostage. Maria okay. Its leverage. Its extortion. Its wrong. Maria wow. The federal government does have it, maria, because the fbi has it. Maria he says the fbi has it and he says look to the dhs, go ask the fbi. Still, weve had chad wolf, the department of Homeland Security secretary on this program and says thats the whole reason they want give us the access. They dont want to show who is illegal in new york. Exactly, ma writ maria. Misleading people i think. Im glad you called him on it. The government needs to look at that data to with the global entry, to see is this right, is this information correct. Its not theyre holding back undocumented. They dont want to give them access to anything. Combined with this bail reform, we have people that are undocumented immigrants who have committed crimes, let back on the street. Dagen theyre putting Illegal Immigrants and criminals ahead of law abiding citizens, period. They lose track of these people. A 92yearold woman was raped and murdered by someone that i. C. E. Should have taken and cuomo wouldnt let them. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. They use stamps. Com all the services of the post office only cheaper get a 4week trial plus postage and a digital scale go to stamps. Com tv and never go to the post office again. Get a 4week trial plus possome people say a dithats 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. 2020 showdown, six states are set to hold primaries and caucuses tomorrow as joe biden and Bernie Sanders each gain could vetted endorsements. Cory booker endorsed joe biden. Todd piro is here with the latest. Another individual coming to the center, cory booker. But an intense weekend of campaigning, trying to win votes in a handful of states, none more important than michigan. Other states with contests include idaho, mississippi, missouri, north dakota and Washington State. Bernie sanders laser focused on michigan, appearing there with alexandria ocasiocortez. And getting an endorsement from the reverend Jesse Jackson. Im feeling good about the momentum that we have. I think were going to do well on tuesday. And i think were going to beat biden. Beat biden in michigan . Yes, i do. Yeah. Biden fresh off his super tuesday success in the south, back at it there with a push in mississippi over the weekend. Former vp getting key endorsements. We mentioned cory booker. Over the weekend, former president ial candidate and current california senator Kamala Harris who went high hearted for biden in the debates as you recall. Some pundits predicting harris as the vp if he gets the nomination. Despite his recent success at the ballot box, yet even more gaffes. Take a listen. Nominate a democrat, a lifelong democrat, a biden obama democrat. We cannot win this reelection excuse me, we can only reelect donald trump if in fact we get engaged in this circular firing squad. Unclear if bidens gaffes will come up when Bernie Sanders takes natter a fox news townhall tonight in detroit. 6 30 p. M. Eastern. You know, we were talking about endorsements offair before. It seems that nobodys endorsing bernie except for a few random people here and there and bidens getting them off. Its going to be curious to see what happens tomorrow and next tuesday. Maria i think its worth checking on how responsible the Democratic Party is to be rallying around joe biden right now, given all of these i dont think you can call these gaffes anymore, by the way. Okay. Maria there is something seriously theres an issue here with joe biden. Its obvious. We know that in the past hes had hes talked about the brain aneurysm that he has, he actually has two. And i think for the whole party to get behind him and say yeah, go, hes the guy to beat donald trump, i think its worth saying is this a responsible thing to do. Dagen Bernie Sanders just had a heart attack, quite frankly. In the late fall. Im about to make a joke so its clear to everyone but i look at both of these men and you think as a country person, would i have either one of these gentlemen even mow the lawn in the middle of july for fear that they might faint in the yard. The answer is no. This what is that party is left with. Maria i think that left clip that you played of joe biden is very serious when he was saying we have to reelect donald trump. I mean, this is he keeps saying things that are wrong and yet the whole party hes their only hope, i guess. To that earlier point, how organic are these endorsements . Are these individuals who say i just feel this in my heart, i really want joe or is there something more happening behind the scenes in light of these gaffes, trying to force the issue. More important than ever about a good running mate for these candidates. Its a clear sign they could be issues ahead. Maria does aoc want to be bernies Vice President . Cant be, because of the age situation. But that harris thing makes it makes absolute and total sense. Maria quick break and then leaving jail, the idaho mother of two missing children could be set free, a judge reducing lori vallows bail. Judge Andrew Napolitano will weigh in next. Dr. Oz is here discussing how to stay healthy while traveling amid the coronavirus outbreak. Its all coming up, right here. Dont just plan to retire. Plan to live. An annuity helps cover your essential monthly expenses, so youre free to live the life you want. Find out how an annuity can give you Lifetime Income at protectedincome. Org well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. Maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is monday, march 9th. Your top stories right now, 7 32 on the east coast. A Global Market selloff this morning, futures trading at limit down. Declines at the open could be even worse, the dow industrials right now down 1,255 points. All the averages down almost 5 right now. It all started with the oil markets, oil prices are plummeting. Down 22 for the price of oil after saudi arabia launched a price war when russia said that it would not agree to the Production Cuts proposed by opec last week. As a result, russias not going along with any Production Cuts. Saudi arabia cuts prices. The price of oil down 22 in the Global Market. Yields on treasuries are plummeting, the 10 year treasury dipped below 4 10 of a percent overnight. The yield on the 1 o 10 year, 35 basis points lower. The 30 year falling below 1 for the first time in history and as you can see, that yield right now at 0. 853 , down 43 basis points. A lot of the sectors that are trading down are closely tied to those markets, airlines remain under pressure. There are reports that the white house could be offering relief to certain hardhit companies and as you can see, the Airline Stocks are down across the board between 4 and 6 . Global markets this morning also selling off. We have a deep selloff in europe, fq100 down 416, cac down 353, dax lower by 807 points. In asia overnight it was red across the board. Chinas exports tumbling 17 and a quarter percent in january and february, more signs of trouble in japan as well. The Fourth Quarter gdp was revised down, showing its economy shrank 7. 1 from the quarter before. Meanwhile, rain on the west coast, Southern California bracing for heavy downpours today. Cheryl casone with those details. Cheryl a slowmoving storm is going to bring rain there. That starts tonight. Parts of Southern California including los angeles and san diego expected to pick up an inch of rain through thursday. This kind of is good news, though. The state had its dryest february in 126 years. There is your map. Big tech is trying to save facial recognition as some states banned Government Agencies from using the technology all together. Microsoft, google, ibm, and amazon have called for precise regulations that dont allow mass surveillance instead of an outright ban. Facial Recognition Market could be worth more than 14 billion by 2025. And finally, things are looking way up for disney and pixars onward. The animated film took the top spot at the weekend box office, earning an estimated 40 million here at home, 28 million overseas during the debut weekend. Compared to other pixar films it fell short of expectations inside out opened to 98 million domestically. Weve got to add, this could certainly be related to the coronavirus. There are reports that a lot of movie theaters were pretty empty over the weekend, people dont want to gather in confined spaces. Maria thats the bottom line. Thats why youre seeing a serious impact on projected economic growth. Cheryl, thank you so much. Happening across the board, conferences being closed as well. The idaho mother whose two children have not been seen in months could leave jail as soon as today. A judge on friday reduced lori vallows bail from 5 to 1 million but also noted that vallow so far has not indicated where her children are despite a court order. Joining us now is fox news senior judicial analyst, judge Andrew Napolitano. Why would bail be reduced this drastically. It was set that high for that reason and we havent seen these kids now in months. The only reason that i can think of is the bail includes electronic monitoring and the government would like to be able to know her wherebouts to see if theres any effort to communicate with somebody who might know where the children are. Theres some sort of a religious or cultural cult involved with this family and some of the relatives of this woman are involved with the cult and some communication with the cult might tip off the police as to where the kids are. The kids havent been seen since september which is now seven months ago. So, look, idaho is a state, unlike new york were talking about a very interesting and telling interview with Governor Cuomo. Idaho is a state where the judges have free rein. The judge could set the bail at yeazero or 5 million. This normally means 100,000 in cash or 100,000 in property. I dont think shell have much difficulty making that. I can easily predict shell be out sometime today. Judge, you mentioned communication with the cult. Now, with ms. Vallow and some of that communication she supposedly had, with everything so electronic these days, why hasnt the judicial system figured out what shes been communicateing with the cult on with respect to the kids and so forth. Thats a great question. Its hard for me to believe shes not under some kind of electronic surveillance already. There is clearly probable cause of crime here. Her children are missing. At minimum, theres child abuse. Theres possibly desertion and abandonment and may be some sort of aggressive harm like murder, we dont know. Maria whats with all these smiles in court. I mean, shes smiling, shes laughing in court. She either doesnt perceive the gravity of this or sometimes lawyers will say to defendants look happy, look relaxed. Because you really didnt do anything wrong. Maria how are you relaxed if your kids are missing for two months. I fully agree with you. This is an act she is putting on, getting under the skin of people observing it. Sometimes judges say what are you smirking about, this is deathly serious. Other times judges say i dont care about the look o on your face, my job is to do justice in the courtroom. Maria thank you so much. Coming up, facts on flying safe, dr. Oz is here next talking travel amid coronavirus fears. Building chickfila, the heir to the fast food empire joins me, sharing her recipe to the familys success. Were back right after this break. When you own horses, you dont just own horses. You own a pasture. A barn. And hay. Lots of hay. You need a tractor built to get every job done right. The kubota l series tractors. Maria welcome back. Coronavirus spreading turbulence across the airline industry, Health Officials telling high risk travelers to stay home. Industry trade groups are predicting losses in excess of 100 billion this year. Joining us now with facts for travelers, the host of the dr. Oz show, dr. Oz is here. Great to see you. Thanks for being here. You must be really busy with all of this. Take us through the facts, starting with air quality and seat location in terms of the most important things we need to know if you still need to travel in the face of all this. Ill give you that bit. Let me give you a pep talk. Were a can do people. Stay calm, dont panic. Our goal is to give you action steps to take to keep yourself safe and people that are frail in the population in optimal conditions so they dont get sick, if youre going to travel on a plane, stay by the window. Its further away from all the crowds. The germ zone is the row in front of you and behind you. Take the air nozzle, blast it at your face. Its the safest air you breathe. Its em belie mattic of what you emlematico what you can do. Wash your hands for 20 seconds and wash your fingers in particular. Dont shake hands. Maria we did the elbow bump. You need to. Historically, it would show your hand was free of a weapon, these days youre carrying the weapon and youre going to infect them. Hygiene is critical. This surface in front of me, the reason the coronavirus worries us, a germ on the virus from the guest before me could infect me, from the guest on friday it could infect me. Maria that will live on the desk for how many hours. We believe up to nine days. Its really difficult to predict who was there. Youve got to clean it up. I like to Spray Solutions once it dries it kills the germs. Its better than the wipes. Theres been supplements that may be ben usual in shortening beneficial in shortening the duration. 80 of people who get it have symptoms that are mild. Vitamin d, elderberry. Maria i take the emergencec drink. Dagen before you leave, disinfect your surface. You have to let the surface get wet. If you wipe like this, you spread germs. You leave the surface wet so when it dries you murder the germs. Maria busses and trains, we dont know that those surfaces have been cleaned. Youve got to keep an arms length distance from people around you. You have to be thoughtful about using Mass Transportation during rush hour. Holding handles above your head is a sa catastrophe. Walk around with clean exes to hold with klennexes to touch that. You touch your face, 1,000 or more times a day, youre taking the virus and inoculating yourself with it which is why its so contagious. The traditional flu, if i have the flu, the chance of me giving it to a person is meaningful. Nine people get infected from me during that week. If i have coronavirus, its 45 people that get infected that week. If you happen to have a weakness for the virus, it will catch up to you without you realizing it. Most people it sounds like dont have to worry. It is the elderly. Does the average person really need to panic . Doesnt sound like it. Again, its not about not panicking. Youre not going to die from this virus. Overwhelmingly youre safe. You should do smart things to avoid you from passing it to people who are frail. Dagen my father is 83 years of age. He lives in the south. I was going to go visit him. I dont have anyway to know if i have i feel fine. But i could have it. Potentially living in in new york city, the most populated city in the nation, so i cant visit him until i can get tested. Testing is so far from being done for the average person i wouldnt bother. Your dad should do basic things, two week supply of overthecounter and prescription medication, communicate using telephones but you going down to visit him without knowing for sure you dont have the illness, people sometimes are so subtly infected they dont have symptoms. Youre putting him at risk for no good reason. Maria my dads 87. I was thinking the same thing. I would spend a couple weeks until we understand whats going on with people who are infected in the country because its different than those infected in wuhan. T mosif i give you mortality nu, theyre based only on People Living in wuhan. Maria we know whats coming at us. We know numbers are about to spike. Lets talk about getting ready for it. You have tips and suggestions to stay healthy. One is getting a humid fire. Humidifier. It doesnt like humidity and warmth. It pushes back the virus and keeps the mucus membranes moist. Air travel, its dry up there. Mucus membranes dry out. That can protect you from virus particles in the air. You have a month more of cold weather. Maria dr. Carson said, look, in the future when were retrofitting new buildings, talking about cruise ships, its going to be totally different. You need the ventilation that will take certain particles out of the air. The cruise ships dont have that right now. They dont use that technology. Why would they have been expected to do that. Planes do have that technology. Thats why the plane air thats recirculated from the outside is pretty clean. Thats going to become the standard for buildings and ships, its how we manage ourselves going forward. Im going to point this out. We are the firewall. The folks at this table will do fine if you get the virus. One of you may have had the virus and not known it. Folks who are panicked about the stock market who are working in the stock market may have beenicever infected. Maria been infected. Maria it may have ran through their bodies and they didnt know it. The symptoms are a fever, doesnt have to be high, fatigue, youre going to feel like you have a dry cough and interestingly about 40 of the people have diarrhea type symptoms, nausea, vomiting, things like that those are symptoms you want to watch out for. Again, they could be you may have thought you were hung over. You may think you have allergies. You may think you have a mild head cold for the day. Maria that will stay in your body for how long . The virus seems to have an incubation period of a week to two weeks. Thats part of the problem. Could you be contagious and not realize it. I would after that, i would quarantine myself for at least 10 days. Maria one bit of good news, children so far seem to be less affected than adults which isnt the case with the seasonal flu. I dont know if theyre carriers. They may be carriers but kids under nine or 10 are not getting this. Almost for sure theyre carriers. There hasnt been a known death of a child under age 10. Ill give you the numbers. Under 10. Zero. From 10 to 50, two in a thousand chance of dying, which is twice the seasonal flu. Above 50 starts going up. 1 of people in the 50s will die. 4 of people in the 60s. Double it every decades after that. 8 in the 70s, 15 in the 80s. In the 80s, with chronic illnesses, thats the group to worry about. Everyone else, carry on. Maria well see you on the dr. Thank you. Well be right back. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Maria welcome back. An american fast food icon, the heart and soul of chickfila is the subject of a new book written by my next guest, a quiet strength. The life and legacy of jeanette m kathy, illustrates the behind the scenes impact of one of the chains founders. Joining us is the daughter of the chickfila founder. True ditrudy, good do have you. What an incredible Success Story chickfila is. Youve seen it from the beginning. Tell us about that. I realized that a lot of people know my dad as the founder of chickfila. Very few people heard my moms story. She was a remarkable lady, significantly impacted my dads life, our familys life and the business. I put the street out to help people know that behind everything is always something that is unseen and she has been the unseen hero in our family for sure. Maria how wonderful. What was it that created such success, tell us if you can pinpoint one or two things where you believe this is what did it. Sure. Well, i believe that weve always tried to honor god through our business. We feel like biblical principles are what guides us in our Business Practices every day and so that is really where we claim our success is being able to honor god through everything that we have been given. We feel like were stewards of the things god entrusted to us. One thing i was going to ask, when you go to chickfila and go to other fast food chains, the food tastes different, it tastes better pressure, more pure. Whats behind that . Just better ingredients . Better preparation . Seems like a secret. A lot of the other fast food chains dont have that deliverable. Certainly quality food. Part of it may be the service. We have people that enjoy serving others. Were appreciative to our team members that say it is my pleasure to serve you. Thats the thing i noticed. , you go into achickfila ans smiling. Its maybe not its infectious. Youre having a good time. I think that does kind of its the whole experience, not just this is a great chicken sandwich which of course it is. Most definitely, a lot of people eat with us, theyre not even hungry, theyre looking for a great experience like youre talking about. Maria we cant let you go without asking about the chicken sandwich wars, between chickfila and popeyes what do you think is going to happen here. Were trying to serve a grade sandwich in a clean experience and offer that to our customers and stay true to who we are. Thats one thing my mother would remind us, remember who you are and whose you are. Maria thank you so much. Thank you, maria. Maria back in a minute. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. 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. Thanks so much for joining us he i am maria bartiromo, monday, march 9 top stories 8 00 a. M. On the button east coast we have serious market mayhem underway a Global Market he selloff right now futures trading, at limitdown. Meanwhile, that means that he prooefrpts declines logicalr than 5 were at 5 o would gee corresponds are dow industrials expected a hit 1255 points, right out of the gate this morning started with oil Oil Prices Plummeting this morning, after saudi arabia launched a price were, when russia said it would not agree to Production Cuts proposed by opec oil worst o selloff since start of the gulf war 12991 prices down 22 1 2 , that is 9. 30 a barrel at 31. 98 on price of oil 32 dollars where we are looking at oil the yield on tax planyear treasury dropped below 4 10 of a percent overnight staggering decline in Interest Rates, this week this morning u. S. 10year treasury. 4 8 4. 80 30year first time in history. 826 down 46 basis points, Global Markets in deep selloff mode throughout europe asia indices down across the board, look at ft 100 down 6 3 4 right now that is 434 points lower cac quarante in paris down almost 7 , 356 points lower dax in germany down 812 points, 7 lower in germany asian markets similar take a look chinese exports tumbled 171 4 january and february signs of trouble in japan gdp was revised lower showed japanese economy about contracted 7. 1 previous quarter coronavirus continues, case in United States abroad are growing the white house reportedly looking into emergency measures, oversees italy is on lockdown reporting a surge in debt, also closing borders o locking down the entire Northern Region of lombardi in italy apple hit as well the giant selling less than half a million smartphones in china compared with over a million in february, 201289. The stock down right now, 7 , 20 dollars lower on a apple 269. Is it wells fargo chair resigning days ahead of scheduled patterns before House Financial Services committee share down 10 we dying deeper on that 2020 race heating up tomorrow big former Vice President joe biden senator Bernie Sanders secured into . A. Traded sharp words ahead of michigan primary mornings with maria is live right now. Top stories we are watching this morning california, is preparing for a cruise ship, to dock in oakland with at least 21 passengers with coronavirus aboard that ship there are more than 3500 people onboard the grand princess, from 54 countries governor gavin newsom working to ease concerns any will be released into pop population before 14 day garn lawmaker ted Cruz Paul Gosar self kwoorng themselves feeling fine after kwak with a person tested positive, italy locking down 16 Million People in northern part of the country officials at dnd paris checking on staff one he worker tested positive, park is open death death col tops 3800 across the world more than 109,000 cases are worldwide affecting 98 countries this morning, north korea you have launched at least three projectiles second weapons test believed Ballistic Missiles through more than 120 miles before dropping in sea of japan the launches come two days after north korea, threatened quote momentumous action against those who object to military drills o boeing could see setback trying to get 737 max jet in the air fa is expected to order boeing the fix electrical wiring this preliminary decision covers all nearly 800 max airliners so far, federal regulators say it violates wiring Safety Standards boeing disagreeing the stock better than 9 this morning girl power or International Womens day the event to end discrimination against women most mauchldz peaceful others like turkey turned violent as women clashed with police what are we clashing about Time Magazine limousine taking time selected 100 trail blazers from 1920 to 2019 one hundred women of the year amelia eastern hart billy holiday on the list. Prices plunging amid clark between saudi arabia and russia, saudi cut prices after no deal reached between opec nonopec countries on Production Cuts like russia, joining us right now from from group Price Futures Group Senior Analyst fox business contributor good to see you have you seen anything like this what is it like on the floor oil is traded . People are walking in like zombies what happened over the weekend. I think a lot of them knew it wasnt going to be pretty you know as we left friday afternoon news was out that the saudi or opec plus talks with about russia had broken down, and nation response that were seeing in word i am hearing on the floor, what saudi arabia and russia did was really irresponsible cartel telling us job Stable Oil Market for producers and consumers instead turned into a match between russia and saudi arabia. You know. Now the Global Economy is hurt, because of their action. Listen if you want to be the central bank of oil then you own it for better or worse, any damage that is caused by their action to the economy, is going to be on that group. Scott i missed in you chicago my friend i will be back soon i promise if allowed to fly. We need you here. I followed a lot what you write as many of us do one thing you said i i think a couple weeks ago was it is time to panic. At the times take a snapshot now what time to do buy on overblown fears . I think so going to be about very volatile, listen everybody in oil patch knows this is overdone the question is this type of environment it can get over dope i think you have to think shortterm use a lot of options, because you want to have that coverage but how many times have we seen stock market oil market bounceback friday afternoon everything looked like turning around you get another coronavirus headline all betts off that is a big part of the problem, you know, really dealing with headline of the coronavirus. Add to this u. S. Saudi price war isnt going to end any time soon, it itself going to make it more uncertainty, about yes, we love low gasoline prices i love them more than anybody i have a boat of a car the ramifications across the economy the high yield yet Market Energy percentage inform uproar right now we are going to see cancellation of energy projects, so this is having a bigger impact than just oil market. Maria i want to bring dagen in you reported a minute ago during the commercial break what is going on in bond markets tell us what is happening. Dagen p spreads widening dramatically this morning with even Investment Grade high yield debt talking about difference between, treasury the yield there, 10year has plunged, youve got according to andy i followed for many, many years, Investment Grade spreads are wider by 50 , and that high yield spreads wider by 35 , a dramatic increase certainly in risk there. And then also, phil, i want to raise the issue of what is the break even for shale Producers Oil surprises if below 35 dollars we will have producers going out of business wont be. We will, the Smaller Companies i believe are in big trouble right now you say what when is a break even dagen i think some producers have been under break even last couple years, you know because they are saddled with debt some need 65 dollars to make a profit. A lot of them just continue to pump and lose money listen there is a big passenger shale producers hedged able to survive this i am not going to say widespread bankruptcy but ones that are not hedged with low threshold for pain at this point they could go. That is the issue right if you are going to see a portion of this market a default the credit issues open up for the rest of the market that is what i spoke to about to dallas Federal Reserve president kaplan last month, listen to what he said he is watching in terms of credit listen to this. Right. What i am going to be looking at is what is happening particularly to cost availability of credit, i will be carefully watching credit are spreads other than weaker cledz widened not substantially i will be watching that. You heard from dagen credit spreads are widening he said when ten year was 1. 2 . Dagen i want to point out Federal Reserve, that last week we were seeings strains in short term lending markets remember that made itself apparent in the fall repurchase mark repo market firms borrow lend crash through agreements to repurchase treasury securities a spread between federal funds rate, set by the fed, and the repo rate the difference widest last week since november. This are morning new york fed announcing cfo trying to inject liquidity. Many people are also expecting Federal Reserve to try to inject liquidity in this market not cutting rates but by maybe selling treasurys because such demand for treasurys, and buying things like mortgages, because they are allowed under the lay to be able to do that, watch for that it could happen. Maria we have started opening Balance Sheet buying, in the last couple months phil, if they are going to keep this up does market see this as positive or does the market see this as emergency emergency action, in a perhaps is a lot worse than people expect. Right now i can take it somewhat positive put a 3w5bd aide on open wound right now gushing blood if in do nothing probe getting worse you are right could create more fear, you know, freeze up money more we saw 2008, and you know the key thing here i think, and i think larry larry kudlow has done a great job the president has done great job to try to calm markets in volatile times we are going to get through this right . You i mean the coronavirus thing is going to end, i think there is a lot of what over reaction in this market, i think, that is why i am so upset with the opec cartel the timing of their little er personality match power play in middle east hurting rest of the world Global Economy, listen, oil prices when they plunge like this has a tendencies to bring you know takeaway confidence from other sectors we saw that on subprime crisis, you know once subprime went bad other sectors started to follow we want to put end to that i do think the Central Banks Trump Administration is going to step up and i think going to need to just to get through this panic he. Maria quick you wanted to jump. Curious normally u. S. Production changes come a year like you think we are going to see that a lot quicker this time. I think we could, i mean we have already seen in o monthly numbers we settle a record weekly numbers for production, if you look at monthly numbers starting to tail off a little bit, we have seen the counts really drop last year started uptick last couple weeks so i actually think we are in very close to a plateau on u. S. Production. Now i am hearing today, i talked to people in the field where they are putting the brakes on all Capital Spending so if you are going out and drill a rig they are telling guys were not going you know until this thing settles down, how long i dont know. Maria we leave it there good to see you phil thanks very much we will keep watching obviously, incredibly busy morning global selloff underway investors reacting coronavirus rattles markets new york fed providing stimulus childhood memories one tennessee resort offering accommodations we will have that after this short break. Stay with us. Dont just plan to retire. Plan to live. An annuity helps cover your essential monthly expenses, so youre free to live the life you want. Find out how an annuity can give you Lifetime Income at protectedincome. Org preventative. Maria welcome back markets going to open sharply lower futures he indicating a conceptualoff opening of trading dow industrials down 12255 points, oil the story, oil prices plunging, on a fight between saidids and russians saudi arabia cut prices, after the russians said they would not adhere to Production Cuts proposed by opeclast week you got Oil Prices Plummeting 22 , crude oil 32. 058 barrel is a real serious for Oil Companies have leveraged we could see default not major ones like xon mobiles the smaller Service Companies yields plummeting yield 10 year treasury below half a percent ten yee. 466 down 30 basis points joining us chief investment strategist mark good to see you. Thank you for being here you come in you see the futures limitdown what do you do. First of all, dont panic i mean a lot of what you mentioned obviously, is capturing all the headlines at the moment you have a perfect storm intersection between coronavirus when wasnt going away this morning, are coupled with fact that you have a lack of a detente between russia opec walked away in agreement now not only additional flush of supply, but the fact that investors were clearly not convinced that global and in for energy was a going to increase any time soon, and we are left with much Lower Oil Prices, obviously, the benefit here is to consumer not only here in u. S. But around the world, china biggest importer, lack of stluf so some degree offsetting somewhat back on energy patch noni think there is a setup for an opportunity for investors looking at risk assets understanding next couple months going to remains somewhat dangerous in terms of volatility, but assuming that what we dont see here is devolvement in Economic Activity such that we see any kind of recession in the United States setting up for a much stronger back half of 2020. You said one thing key to situation dont panic the problem with that i believe bonds are panicking theyve been for several days, if not a couple weeks now, what do you make of the action bond bond especially today given that we are hitting record historic lows. Sure a couple things obviously, risk off so flood in u. S. Treasury markets by way of getting out of anything more volatile than short term treasurys, secondly yields falling in lockstep download bond yields german 10year bond trading negative 75 basis points at juncture alltime low bond yields following in lockstep with meltdown premiumed around the world relates to globe risk only 15 trillion dollars global debt waving heavily in terms of gravitational pull on bond markets. When you see series declines like exxonmobil down 11 Balance Sheet exxonmobil down 11 this morning leak across equity market you look us tell us where you see biggest bargains opportunities. I think you are rightly important sectors to look at technology for instance smashed here among, all the other sectors that have been soldoff and i think look at Software Space like microsoft, look at high quality names fortress Balance Sheets amazons, facebook, alphabet trading at now upper teens evaluation ask Consumer Discretionary space home depot housing is going to benefit from lower Mortgage Rates an opportunity to put together high quality basket of names will survive this short term impasse. We see you soon we will keep talking great to see you back in two minutes, stay with us. Out here there are no half measures. Doing it right is plan a and plan b. You need equipment thats up to the challenge. All day. All conditions. All year round. Can be a sign your feeling digestive systemhed down isnt working at its best. Taking metamucil every day can help. Its psyllium fiber forms a gel that traps and removes the waste that weighs you down. 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At about headquarters behind me big rallies in flynt grabbed rapids endorsement of reverend Jesse Jackson huge crowds trumpian crowds joe biden not here spending in mississippi high precisely endorsements from Kamala Harris as well as governor he got endorsement from cory booker biden wasnt here put oped saying let the market work its will in auto bailout barack obama wouldnt stand for it as son of automobile man i certainly wouldnt stand for it Bernie Sanders shooting back on Fox News Sunday telling Chris Wallace yesterday, yeah the auto bailout was good, but we ought to was done by Obama Administration and was a step forward. But i think, about sometimes joe o is taking a a little bit of credit as Vice President for initiatives that are led by president obama and many members of the congress. Reporter final point dagen, in terms of Health Care Michigan has Union Workers have hard fought Health Care Benefits Bernie Sanders plan is medicare for all no to opt universities you have to give up Health Care Coverage doesnt know how much it is going to cost, Union Members you dont know would like to do that joe biden much more conservative expanding obama care would pay for it with a tax, increased tax cap pall gains losing loopholes they have pretty good Health Care Benefits i dont think they want to give them up. White house response how Trump Administration, is about tackling the coronavirus are we going to see economic stimulus given impact on economy childhood memories one tennessee resort offering a blast to the past to lure consumers the pictures when we come back. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 of patients on eliquis didnt experience another. 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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 welcome back, we are an hour from opening bell on wall street it is gearing up tooep a tough session markets selling off cross the world dow industrials down trading limitdown, down 1255 points Kristina Partsinevelos on the floor of the new york stock exchange, watching it flow this morning in real time, kristina. Good is like you said not pleasant at all futures market showing a much lower openings the fact futures overnight, we can bring up fund spider to focus on tracking s p 500 a lot of traders talking about circuit halters if s p 500 drop 7 clarified nasdaq once opens is automatic no traders there, if the s p 500 on nasdaq plummet to 7 you may have a scenario not even all stocks here on exchange will be open because some does happen manually on the floor a lot of traders trying to understand right now some other anecdotal stories one walked by said another told me nervous another one told me that he was up all night wife angry because he has to cancel Family Vacation postpone it theft left, he is here everybody stressed if you look at xopecf fund forces on oil and gas being a big price war between russia and saudi arabia a huge story you had coronavirus that is adding to drop in the futures market right now you can see, this spdr eft, down 27 , again this attractings companies to show how dire it could be we are seeing more, investors moving into assessor betts will go hitting 7year high, as well as you mentioned early in show 10year yield has fallen dramatically, the mood right here, everybody, is a lot of people are here early, too that is big sign traders usually dont show up 8 00 a. M. Eastern a lot of people are here, maria back to you. Maria thank you kristina we have seen the movie before periods of serious upset from markets only to later say well that ended up being a Good Opportunity so i just want to caution people not to get too crazy panicked over this because yes limitdown yes market responding to a serious situation in terms of oil but these things tend to correct themselves. Dagen to point out we can use the word crash when it comes to oil prices, are you have a 20 plus decline, in the cost of crude oil that is a crash, when you have a decline rapid decline in yields on treasurys these are collapsing again price goes up, reverse of that. But there are Circuit Breakers in place, for the s p 500, a 7 decline is a 15 minute pause another then 13 decline another 15 minute pause if s p falls 20 or more that 594 points on the s p 500 today, trading will stop for the rest of the day. Maria eventually as market gets clifrt in terms of where this is going whether coronavirus situation in the crash in oil, markets will then have better anticipation and we are not going to see kneejerk reactions i want to point out m. K. N parnz saying economic implications of oil prices where they are every dollar decline in oil prices equates to a hundred Million Dollars a day or 36 1 2 billion dollars Lower Energy Cost 2 dollar oil versus 55 dollar oil prices plus us 2. 3 billion per day 840 billion a year Lower Energy Costs on the other side of this we will see who goes abrupt who did he faults if you survive it is going to be much better situation. Silver lining does help airlines under stress if anybody flies. Dagen planes empty. They have pulled capacity so in terms of Economic Impact of Lower Energy Prices not as beneficial because people arent driving as much, airlines have cut capacity what 10 to 20 for you United Airlines you see photos of planes reporters sent to italy. They are empty this is short run eventually all countries will get arms around this virus outbreak. But in the short run, businesses have to protect employees, people was a supplyside shock out of china now expected that drying up it is a rough ride we are in right now this the too will end we want to say Harvey Weinstein appears having trouble adjusting to life behind bars Cheryl Casone with that story. Cheryl that is right, maria. A spokesman for gratified pemovie mogul tells New York Post he is miserable reportedly fell he in p jail cell over the weekend, 67yearold under kwebt heart procedure last week before moved to new yorks Rikers Island con inviting last month on yaip and sexual act charges faces charges in california. Actor accused of staging a rate of attack smolletts lawyers argued judge over stepped authority the actor was hit with six new counts Disorderly Conduct last month. Australia regulator accused of sharing details with more than 300,000 people with cambridge analytica, facebook could be on hook up to 350 billion dollars spokesperson said it has been working with regulators the past two years. Finally there is this on this day of market roughness if you want to relive childhood forget what is happening a resort is going to help you tree house in tennessee features 8 grownup tree houses starting march 18 four bathrooms, 279 dollars to 449 dollars per night if you dont want to wash markets hide in tree house. Maria that is that is good one thank you, cheryl cornerstone macrowith list of things Federal Reserve would do in in terms of stimulation look at 2020 economy six states to hold Economic Impact primaries tomorrow twoperson race between former Vice President joe biden, Bernie Sanders both making cases to voters in michigan President Trump won narrowly in 2016 days after fridays blow out jobs numbers economy added 273,000 jobs in february unemployment rate, dipping back below, and to a 50year low. Down to 3 1 2 joining us right now senior fellow National Taxpayers Union Forward strategies president matty good to see you. Thank you for joining us we are in a rough ride this morning, do you think democrats can compete with this trump economy or do you think this subject of a massive selloff on wall street reaction to coronavirus will that come up in primaries . I think will certainly come up listen democrats will have a long road ahead to combat the trump economy remember, the stock market even though grabbing headlines not necessarily analog for the economy just one component of the economy, we have heard a lot about how successful stock market has been particularly under Trump Administration but going into last week we had a ton of great data that showed economy was strong indeed that is what jay powell said about emergency measure Federal Reserve the underlying fundamentals remain strong you mentioned job numbers something a conflict of interest bright spot in economy 273,000 jobs created last month, that preclude expectations out of artery water almost 100,000 jobs surprising to upside a lot of data again repped American Voters pull the arms around, wage growth also rising americans feel the economy, and that is where they tend to vote no doubt the coronavirus going to be a problem for economy and from a Public Health perspective but there are still, a lot of aspects about this economy that going into crisis from a position of strength not one of weakness. Dagen it is Dagen Mcdowell no disagreement there, but we have never had a president before who tweeted and bragged about a record high in the stock market. And i said from day one, before President Trumpss inauguration i own it on the way up then you are going to own it on the way down we dont have any way for to judge, right now, how voters might react, to a downdraft in stocks. That is absolutely right dagen, i think that the president himself really needs to start taking, a much more disconcrete done not just twitter feed the entire Administration Needs much more clear with American Public a as to how these responses to virusing are going to play out what americans can expect can when it comes to election november terribling voters opinions about economy tend to crystalize july or so leading into a november election that is i think the runway we have we are very early in the year, the Administration Needs to have a very are transparent clear response to the virus so americans expectations are set on what they are going to see in terms of the spread then when we come out hopefully couple months of this pandemic, then we can talk about economy start refocusing on fundamentals how he americans feel. More than the reaction to coronavirus we may need reaction to economy sooner rather than later, youve got wall street firms predicting probability congress is coming up with a fiscal measure in response to what is goingespecially with oil prices collapsing, Kevin Mccarthy yesterday on sunday morning futures said Congress Needs a surge cal approach perhaps some stluf for sectors like airline sector. I agree one problem everybody wants to get their piece in people senators, congress men and women my state needs this needs that i wore that that are they going to do something before it is necessary . And, of course, with election being this year are people in Congress Going to be too aingr to do something that again like you are saying months later we might not even need. Exactly, i think the response needs to be targeted it needs to be geared towards what actual effects of Something Like, a quarantine would be people cant work there will be concern about paying mortgage maria have had a good point the consumer remains bright spot in this economy Lower Oil Prices even though a crash in the price is problematic for a number of macroeconomic reasons, Lower Oil Prices the fact people he will are refinancing mortgages means more Discretionary Income out there the question whether or not americans are going to have the opportunity to spend it when need measures in place so americans feel they can continue to row the boat as you may say before they have a personal finance minister crisis not able to pay he morning but a large fiscal stimulus isnt targeted in that respect will not do much to preventative dire conversations having about what may happen result of this virus. A response from the new york fed in terms of repo markets likely a response from congress as well good to see you. Thank you so much. Over to studio b, Stuart Varney preparing for his show hey stu going to be tough day what is on deck. Well said maria you and i have done this before no doubt do it again, look we are waiting for some kindly of announcement, of being targeted stimulus larry kudlow suggested last friday on our program i suspect we may get announcement at some point would love to see it hear it waiting for it also waiting to see what back from dr. Fauci says we should be socially distancing ourselves separating out. What impact will that have what impact on drillers from incredible decline in price of oil what impact on bond issuers corporations with high yield bonds what impact from extraordinary decline in Interest Rates 10year to. 31 day going to do moment to dominate reporting throughout the show today. As we said maria you and i have been through this before i think the word is stay calm carry on we may be setting up a mon yu mental buying opportunity down the road. Maria i agree with you stu i think so too, i think i am joining you see you in your show you are there for open that is going to be, a messy open shall we say thank you so much stu see you top of the hour plus the white house responding how Trump Administration is tackling the coronavirus dont forget ask maria tables turning i am answering your questions on social media through Instagram Twitter feetsdz let me know what you would like to talk about back in a minute. When you move homes, you move more than just yourself. Thats why xfinity has made taking your internet and tv with you a breeze. Really . Yup. You can transfer your Service Online in about a minute. You can do that . Yeah. And with twohour Service Appointment windows, its all on your schedule. Awesome. 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Maria welcome back, spread of coronavirus in United States, continues, 27 states are now he go affected and washington, d. C. , blake burman live at white house with more, on the administrations steps to curb this crisis blake. Reporter maria good morning to you state department this morning is this morning rather is warning americans not to travel on cruise ships so they say this is a quote unquote fluid situation the state Department Also says the following quote the cdc notes older adults travelers with Underlying Health issues should avoid situations that put them at increased risk for more severe disease this entails advoiding crowded plies avoiding noun he essential travel such as long plane trips ebt embarking on cries ships the Surgeon General telling this you morning he expects number of coronavirus cases to go up quote rapidly saying this morning quite a while those under 50 tend to have a mild cold or flu like illness those over 60 more likely need medical attention over 80, are the most vulnerable. I want American People to know, this will in fact get worse, before it gets better, but most people will have a mild illness if we really Pay Attention to who is most at risk then we can help protect most vulnerable. Have to Surgeon General saying government efforts going from containment to mitigation the president though blaming parts of the media exacerbateing the problem at the white house actively senior economic stimulus measures this say targeted timely as of this morning we dont have any sort of update how that may be progressing when that might potentially be coming. Maria blake, thank you blake burman about White House White house this morning coming up globe selloff investors reacting coronavirus rattles markets despite strong economic backdrop oil market collapses. Back in a moment. Join the conversation from home follow us instagram at mornings with maria from behind scenes action watch some favorite assessments go to Facebook Page mornings with maria follow play lives on spotify listen to every day soundtracks send questions comments on twitter at mornings with maria at maria bartiromo. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Maria welcome back. About half an hour from the opening of trade. Its going to be ugly. Futures are trading at limit down, preventing declines larger than 5 . The big story is oil prices, plummeting. A real collapse here. The worst oneday decline since the start of the gulf war back in 1991. With oil prices down 23 at 31. 46 a barrel, oil giants saudi arabia and russia are battling over proposed Production Cuts. We are looking for a massive decline at the start of trading. Lets talk about some of the news thats occurred during this program. You broke the story about the new york Federal Reserve expanding stimulus into this market to respond here. Right. Last week, this is in the repurchase market or repo market, there were strains there, caution there, where the rate, the borrowing rate in the repo market was quite a bit wider than the overnight lending rate, the fed funds rate, so the new york fed has announced overnight operations into the repo market are now at 150 billion, up from 100 billion limit through thursday, tuesdays and thursdays term repo operations will rise to 45 billion from 20 billion so this is some easing of the strain in the overnight lending markets but you will probably see in the coming days, you will see more monetary action from the Federal Reserve, maybe buying of mortgages and selling of treasuries and then certainly something fiscal proposed by the government and by the congress. Maria i think people will want to see a global coordinated effort. I think if you had Something Like that, that would calm markets down. Frmen lets face it, our fed and Central Banks around the world, yes, the virus is spreading fast but also its communication amongst a lot of the Central Banks. As things get worse today, as they probably will, the Central Banks around the world can exactly start to line up that coordination you talked about and that will help assuage some of the difficulty we will have today. Maria from monetary policy, but also coordination for fiscal issues. Because this economy was the president s number one sort of trump card, if you will, going into the election. We know and the markets know at this point things are going to slow down considerably. I do worry that that does mean that republicans in congress, i mean democrats always want to take advantage of Something Like this. I worry that republicans are going to be too quick to do too much. We dont know yet how long this is fwoeg to last, what is necessary, but its an election year. I think people are going to be very worried and on that trigger finger and as your guests said over the course of this morning, a few of them said even Companies Might not want anything yet. Lets hold off. Maria they are all thinking about it and talking about it. Gop leader Kevin Mccarthy yesterday said hes considering and has talked with colleagues about a surgical approach. In other words, supporting Certain Industries like the cruise lines, like the airlines, et cetera. Which provides support. I think you made a good point. Lets watch the left side media today. If they keep pounding this coronavirus, keep pounding the markets, keep pounding Interest Rates, they are going to sacrifice the economy, they will sacrifice americans wellbeing to try to win the election. Some people in the media and some of the talking heads always think they are smarter than the average person and theyre not. What the average person has done last year was pull money out of stock funds and reallocate hundreds of billions of dollars shifting it to money market accounts and bond funds. I said this repeatedly. People know how to structure a portfolio. People have target date funds in their 401 k plan. They have protection in case of this kind of collapse or selloff. By the way, at the open, watch for 208 point loss on the s p 500. Thats a 7 decline. That is when you would get the first 15minute pause. That is your First Circuit breaker. It could get hit right at the open. Maria have you noticed twitter . Twitter is adding three new board members. This company has been the subject of hostile investors. Silver lake will invest 1 billion in twitter. They want jack gone. We will watch twitter. I like twitter. Maria great panel. Thanks so much. Have a good day. Seize the day, everybody. Varney Company Begins now. They will take it to the open. Take it away. Stuart good morning, maria. Good morning, everyone. This is a selloff of major league proportion. We will start with stocks. As you can see, the three indicators are stuck at whats called limit down. After the opening bell if the s p goes down 7 , trading will be halted for 15 minutes. This is the Circuit Breaker system designed to give investors a breather and to prevent the market running away with itself. The dow is down, the s p is down, the nasdaq is down nearly 5 . They are stuck in limit down. That may change at the opening bell. Now, heres the virus problem. Dr. Anthony fauci says social distancing is the way