Transcripts For FBC Cavuto Coast To Coast 20240713

Quarantine it, will be a pretty strong enforcement of quarantine. The key is you have to have separation. We have to have separation or this thing takes longer to go away. But the real, really important, and i think you can say this for your country, i think we can say it for a lot of countries, for all countries hope fullly it is going a way. We want it to go away with very, very few deaths. You know, we call it cases, how many cases do you have . Relative to other countries we have very few cases. Relative to certain of major countries that really have a bigger problem than us. Interestingly i think we have the greatest doctors in the world. We offered iran assistance. Iran is having a tremendous problem and we have offered iran assistance if they would like it. We will help them. We would be glad to help them. Reporter mr. President , pentagon determined that iranian backed militia fired rockets that killed two american solders in iraq. Should they expect a response . I would rather not say but lets put it this way, you will see, okay . But i cant say. I was working on that last night also. They said a lot of rockets now hasnt been fully determined it was iran, as you know, it was a rebel group but most likely could be backed by iran. Well see what the response is. Reporter mr. President , would you like to see the Prime Minister return to the white house next were . He is trying to form a government at home . Would you like to see him i always want him to return. He is a friend. Weve been doing this for quite a while. We started off both new to the job and yes, would i always like to see him. I know they have other people that i know and i get along with very well. We get along with a country but this is a very special guy. We would like to see you back in ireland again. Longer visit, i hope. Reporter would you like to see the president reelected in november . That is of course a matter for the American People but President Trump and any american president is always welcome in ireland. Reporter [inaudible]. That they may have the coronavirus . Are you wear of that . You were in contact with that person over the weekend. I did hear something about that, we had dinner together in florida, in maralago with entire delegation. I dont know if the press aide was there, he was there. We did, we did nothing very unusual. We sat next toe each other for a period of time. Had a great conversation. He is doing a terrific job in brazil. Well find out what happens. I guess theyre being tested right now, right . Im sure reporter any information you can provide . Lets put it this way, im not concerned. Reporter mr. President , yesterday we heard from an Emergency Room Physician in houston who had a patient showing symptoms of something, tested negative for the flu. This physician wanted to test this person for coronavirus and got caught what this doctor described as infinite loop of stupid trying to get through to the Public Health agencies in texas, trying to get permission for this person to be tested. Is there something you can do as the president to try to cut through those bottlenecks . I was watching. They have a million tests out now. They will have over the next few days they will have four million tests out and frankly the testing has been going very smooth. If you go to the right agency, if you go to the right area, you get the test. Now with this being said, as you know millions are being produced. This is brand new thing that just happened. But millions are being produced. If you go back and look at the swine flu and what happened with the swine flu, you will see how many people died and how actually nothing was done for such a long period of time as people were dying all over the place. Were doing it the opposite. Were very much maid of everything. Reporter this person contacted the correct authorities. They were closed for the day. On hold for an hour talking about one test. Youre talking about one case. I can certainly look into it, john. Talking about one case. I watched Scott Gottlieb who was with us, i respect him a lot. I respect him and he was talking about how we have so many different, some cases in california where we have too many, and in other cases drib shun could be a little better for certain areas but weve done a good job on testing and very interesting. You might ask scott about it actually. [reporters shouting questions] reporter [inaudible] no, i wont be going. I have other things to do. I am very busy. Reporter restriction 30 days on europe. Is it possible you can. Extend it . Sure, it is possible. It is possible i could also say we could do it early, we could end it early. I thought it was important thing to do because of what is happening over there. Reporter [inaudible]. I think the democrats wont be having rallies but nobody showed up to their rallies anyway, so what difference does it make . I will be, my rallies are very big, theyre very big rallies, well be making a decision at the appropriate time. I mean the next one scheduled is for the 25th and that is in tampa but well have to see whether or not we do it. No, im not going to do it if i think it will being negative at all f people are, if we havent made that turn yet. Well make the turn. The question is when. The question is how many people will die and i dont want people dying. That is what im all about. I made a very tough decision last night and a very tough decision alongtime ago with respect to china. I dont want people dying, that is why i make these decisions. Whether it affects stock a h market the, not important compared to life and death so i have to make the decision. Frankly the people that are professionals praised the decision. That something i had to do. I think the end result will be very good because of it. It will take a period of time. No, the rallies well make that decision but at this moment we dont have, i was going to las vegas. I was going out to nevada as i said. I was going to colorado where we have cory gardner running and he is doing a great job. By the way he has done a fantastic job but we postponed that. I think well have cory coming in here, maybe on friday. Were going to do our event from the white house. But we have a lot of things that were moving around because of whats happening. Because i want to be here. This is the nerve center. I want to be right here. I dont want to be flying around in airplanes all over the place. I want to be right here. Reporter clearly youre not being avoiding small groups like this. People said, dealing with people that, maybe you dont want to deal with. I said youre right about that. Reporter wondering has the White House Medical Office or secret service counseled to you from straying too far from the white house . They have not but it is common sense. A lot of it is, i say use common sense like washing your hands and certain things. Keep a little bit of distance away. That is why the sporting events are a little bit tough because you have people he is sitting in small seats right next to each other, so it is a little bit tough. What happened with the nba is pretty incredible but you look over in europe, their big soccer matches were canceled. It is Pretty Amazing when you think what happened, how fast this spread to the world. It was one country. Then it was four countries. Then it was nine. Im reading this list every week. Then it was 13 and then it was 22. Now i guess it is over 100 countries. So it is an amazing thing how fast this one spreads. This is, this is a very fast spreader. Reporter anymore thoughts about the Tokyo Olympics . No. I just wish the Prime Minister, he is a great friend of mine, Prime Minister abe and i wish him luck. They did such a perfect job. The venues are incredible. He was proudly showing me pictures of what they had done the last time i was with him. This is before this came up and i said, what a job. They built it very well. They built it on budget, even under budget. Theyre beautiful facilities. I dont know. Very possible, very possible that for the olympics, i just cant see having no people there, in other words not allowing people. Maybe, and this is just my idea, maybe they postpone it for a year, maybe they do that if that is possible. Maybe that is not possible. I guess it has never happened with the olympics although i think there was interruption for wars, canceled or interruption but maybe they postpone it for a year. Its a shame, really, im, i used to be in the real estate business as you probably heard. They built some i built beautiful buildings and they built some really beautiful buildings. Reporter will you make that recommendation to your friend, shinzo abe . No. They are very smart. They will make their own. I like that better than empty stadiums all over the place. That is better alternative than doing it with no crowd. Reporter [inaudible] we didnt shake hands today. We looked at each other, what are go going to do. Sort of a weird feeling. Said it at the same time. We did this. I just got from india and i didnt shake any hands there. It was very easy because they go like this. Japan goes like this. They were ahead of the curve, okay . Now were looking at each other, we said, also had a lot of press staring at us. Are we supposed to shake hands. His group of very smart representatives came in who i know likewise, we didnt. It is a very strange feeling. I was never a big handshaker as you probably heard. Once you become a politician, shaking hands is very normal. A strange feeling, people you know and like, they say hi, just like this. We were saying, it is a little bit different. Feels like youre being rude, we cant afford to think like that for the next few weeks. Reporter could you talk about the tricklethrough effect much everything were seeing here . Like when you cancel nba season you lose all the revenue. That is will weigh all throughout the entire economy. Only thing worse can be that you lose thousands and thousands of people more than you would have lost if we did the way were doing it. It certainly has an impact. Were very much working with the states. The states are a smaller form of government. They can control individual arenas and individual things better. It is different for different areas. Some areas have no problem whatsoever in our country and others do. So were working with governors of various states. I think it is working very well. I think relationship has been very good with california and some others that in particular have been hit. Reporter [inaudible]. Yeah, im happy. Whoever it is, i hope they make their choice soon. I thought it was going to be, everybody thought it was going to be bernie. And i said elizabeth warren, she waited that extra three days, four days and super tuesday was a disaster, he would have won everyone of those states or almost, i think almost everyone much those states, maine, massachusetts, texas. You take a look at the states that were very close and many of her, most of her, i would almost say all of hers, many of her votes would have gone to him. Had she left prior to super tuesday, which is just a few days, he would have would have been declared virtually the winter. Would have been over. Now we have joe. Im very happy to run against joe. One of the reasons i ran for president because of joe and the job they did. So it is one of the reasons. So in a way, in a way its, you know, its maybe the way it should be but it looks to me like it would be biden would win. Reporter [inaudible]. Reporter travel restrictions in the United States or Washington State or california. We havent discussed that yet. Is it a possibility, does somebody get out of control, if an area gets too hot, you see what theyre doing in new rochelle, which is good frankly, it is the right thing. It is not enforced, not very strong, but people know theyring watched. New rochelle. Reporter you spoke to the crown prince. I did. Reporter [inaudible] i asked him what is going on and theyre having a dispute with russia. This is something that drove oil prices down and one thing i can tell you is oil prices are at at point now i would have dreamed about because the gasoline prices are going to be coming way down, they will be coming way down. So with gasoline prices coming down, that is like a tax cut. Frankly that is like a big tax cut, not a little tax cut for the consumer. So there is something about that i like. Thank you very much, everybody. Thank you. Reporters shouting questions] thank you very much. [reporters shouting questions] press, lets go lets go. David finally got the full tape of the president meeting with the Prime Minister of ireland there. Said a lot of interesting things. Said things about what is coming up here on this program. Mentioned oil prices. Scott shellady is coming up to tell us about the oil prices but that really helping to move the market down near session lows. It was nine 1 2, moving up towards 10 down was the low of the day. It is now about 9. 25 down. That is a loss of 2180 points. The Dow Jones Industrial average now stands at 21,368 points. That is below the level we saw in december 2018 which over a two year period was about the lowest we got. That went down to 22,000, the dow did back then, when the fed kept moving rates up. We combee low that level. That was a significant level to go below. The president though saying in fact markets will be just fine. He mentioned that the difficulties of the virus crisis but saying that eventually, it is going to go away, relative to other countries. Were doing just fine. He mentioned by the way, that the european travel ban had to be put in very quickly. He announced that last night at his, his televised state of the nation to americans, it was really pretty much the first time the europeans have heard about it, they complained about it privately, not given a heads up about his plans. He mentioned here at the press conference, they dont tell us when they will raise taxes on our tech companies. We dont have to tell them everything that happens before it happens. He mentioned that president of brazil is being tested for the coronavirus. He met with the president of brazil at maralago in florida last weekend. There is some concern. We dont know what the test will show about the president of brazil but the president had met with him last weekend. Also the canadian Prime Minister we should mention, justin trudeau, is now in selfisolation in his own home after his wife has fell ill. Again we dont have any test results from justin trudeau. That is a new development. He also mentioned by the way, despite our past problems with the country of iran we have offered our help to iran. Of course theyre suffering mightily from the virus. A lot higher death rate than other countries have had. That might simply be because there are more people that have the virus that havent been tested but at any rate we offered our help. They havent accepted our help but we have offered it despite our history of antagonisms with that country. You mentioned the new rochelle lockdown. Coming up we have the mayor of new rochelle right here. Were wellprepared to guide you through next couple hours with details what is happening. Lets start with blake burman at white house with very latest on all this. Hi, there, blake. Reporter we went through, six, seven headlines with, we could probably go through couple more with President Trump as he was meeting meeting with the Prime Minister of ireland. The president defended his decision to ban travel from europe tomorrow night into the u. S. He said he had to make the decision quickly. The European Union scrutinized the decision, considering stop as of this evening this is a shift from the president , very publicly saying separation needs to happen. He was even talking about the sporting events have been canceled. Said it was a tough thing to do, but again separation is key, especially talking about people sitting close together. The pga tour, david, just made a decision, the players championship, one of it is biggest events is going own right now, fans will not be allowed in. The pga tour put out a press release saying the commissioner of the pga tour actually spoke with President Trump this morning about that decision. So it just goes to show you how broad the conversations are that the president is happening, having when it comes to the idea of separation and social distancing. By the way on the economic side of things the president says he does not agree with some of the language that is in the house bill that is being discussed right now. Nancy pelosi and the treasury secretary Steve Mnuchin have talked several times today and as it relates to the payroll tax cut, david, the president said that might not come immediately, giving the suggestion if there is something accomplished here in washington, a payroll tax cut might not be i guess what you would call first phase. David very interesting. Blake, thank you very much. We appreciate that. Another ugly day for stocks as you see on wall street. S p 500, nasdaq, joining the dow in bear market territory. Kristina partsinevelos is at the New York Stock Exchange on todays selloff. It is not a good day, reporter no, especially talking about bear market territory. That means youre off recent highs by 20 . That is it what were hitting across the board. What is hitting traders, many leaders around the globe are getting tested, selfquarantine. Quickly you mentioned, justin trudeau, Prime Minister of canada, his wife sophie, has flulike symptoms. They selfquarantined after speaking at an engagement in the uk. They havent said anything yet about canceling. The other one hitting boards here, the brazilian official who met with trump tested positive. There is something to this. Investors thinking what will be the worst . Were seeing a quite a selloff. You saw the Circuit Breaker enacted this morning for the second time this week. When markets, more specifically the s p 500 fell 7 . This time around traders were relatively expecting it because of how overnight futures markets did. We look at some of the dow losers at the moment. Were seeing on the board, typical ones usually, walt disney has been added. That wasnt on there before. Walt disney, american express, boeing. Look at drop over 12 for those dow losers. Well talk about airlines, because of new travel restrictions enacted by the president , no planes leaving the eu, with the exception of the uk and a few other areas. So that is really going to hurt Business Travel here in the United States. Want to focus on united airlines. Down over 14 . The company has announced that theyre borrowing two billion dollars to pay transaction fees and other costs talking about airlines and cruises. Karn small announced they were halted, they would voluntarily halt all ships for 60 days. That means you cannot take a cruise for 60 days. The stock price is down 18 . Apple warned, last week we talked about this, they may be missing Replacement Parts because some parts supplied of florida. Bank of america cutting price target for apple by 30 bucks. You see the share price, 251. 08. A cult of apple mac blog, the march 30th launch date of the new iphone has been postponed. European markets are falling quite drastically. European Central Bank Leader Christine Lagarde saying fiscal stimulus action is needed. Seems disappointment what she was projecting. No cutting of interest rates. She did say they will begin an asset repurchasing program of 135 billion. Xi also said the spread is likely to continue despite the president s travel ban. Back to you. David kristina said said, Oil Prices Continue their fall, not quite as much as the dow, still down significantly. Almost 6 to the negative. Just over 31 a barrel. It was under 31 a barrel earlier. Lets bring in Scott Shellady from merrick solutions. President was trying to put the best face on it, scott, well, gas prices are cheap but look at overall effect of super, low oil prices more harm to the economy than good from this, no . I would agree with our drillers. The oil or energy part of our sector, employment sector will really take a hilt here. You know, we used to think, i always have thought a little bit of oil, little bit after cheap every gas at the pump twice a week will be the fastest way to put money in the pockets of our consumers, however, there is going to be some Economic Impacts from the hysteria weve seen around this virus. Who cares how cheap gas gets, if you dont have a job, youre not driving to work anymore so youre not seeing that benefit. Everybody has to take a measured point of view. The hysteria, if you act like youre not hysterical, you dont care. That is the feeling everybody gets. Domino effect of canceling things not having people out in the general public is doing nobody good. I understand it is a serious. All illnesses are serious. I would like to the flu to go away. Were only getting same information we got from the coronavirus to combat the flu. I want everybody to take a step, take a breather. The dow is down over 9 . There will be unintended Economic Impacts from this virus that will be much longer lasting and way more severe than the virus itself. David well, we should mention there are six to seven Million People in the oil and gas industry in the United States. Proall various forms of production and retail. We dont want them losing their jobs that has to be key in their minds. I got to talk about the saudis, scott. I dont know if youre as furious with them as i am, the more we heard of the way they took advantage of the virus to announce their production upgrade, which led to bottom falling out of prices, talk about, a real dastardly thing to do, to a socalled ally to take advantage of this virus crisis to try to kill our Oil Production . You know what . If you dont know where they stood before, now you definitely know where they stand. We should take that Going Forward all dealings with them here on out. That was dastardly. I like that word. That is something we have to keep reminding in front much our brains. Just remember, i i cant say it enough, the hysteria surrounding this, because it is kind of an unknown, will be much bigger unintended Economic Impacts down the road. Well goat over this. I dont know how long it will take two, months, three months, who knows, next year, hey, remember that coronavirus well be able to say, hey, remember how many people went bankrupt, how many businesses went bankrupt and economic carnage came after it . That is what were talking about here. We need to slow our roll here, take a deep breath. Remember how to combat the flu, do that with the coronavirus, carry on our lives. David remember again, we had several pandemics regarding viruses in the past, after six months the market always ended up better than it was when the market began to go down because of viruses. This virus is different. The only air of caution i would add to what you hav never seen a virus as contagious as this one. There is something sort of general ethically different about this virus that needs to be concerned, that needs to concern us. We hear that from dr. Fauci. He is not a his tearic, dr. Fauci, i would listen to him bottom line how to think about the virus. I agree with you. Then i take that one more step and say i only care about the number of deaths, that is the significant thing. The president said the same thing. Any death is too many. That is the most important number we look at. When we get tests out there, Start Testing all these people, well suddenly realize it is not as contagious as we thought or not killing that number, lethality rate will go down, right . I know it is a serious thing. Look, be up in arms about other things too, right . I lost my little brother to cancer last year. Just because im not hysterical doesnt mean i really dont care about it. David cant disagree with you more. Scott, that is one thing that dr. Fauci and dr. Marc siegel pointed out, sometimes the panic can be just as bad or worse than the actual disease itself. Sometimes the body reacting to disease, sometimes immune system can hurt us more than the actual disease. Be aware the i think the United States is doing more to combat this virus in a positive way than any country own the face of the planet. We should be grateful for that. Scott, im greatful for you as always, my friend. Thank you. David we mentioned the next Circuit Breaker. We saw a Circuit Breaker this morning pretty much after aftere bell rang for the s p 500 it is 13 , is that correct . So were looking at that right now. The s p 500 right now is down about 7 1 2 . President trump meanwhile announce pack 30 day travel ban to most of europe beginning 11 59 p. M. On friday. Were learning that a passenger on jetblue flight flying from jfk to florida has tested positive for the virus. Jackie deangelis is live at Jfk International airport in new york with more on this hi, jackie. Reporter good afternoon to you, david. And what is so concerning about the jetblue case last night, the plane left here, a person who probably knew they tested positive on the virus and got on the flight and put other people in danger that is the conversation being had here at jfk. There is a lot of talk about personal responsibility, if you should travel, should you not be traveling . I looked at the board, if youre going to some eu countries you still can. If youre coming back from them you still can. But that ban will go into Effect Tomorrow night. If you make the decision to go, you will be stuck effectively for 30 days, apart from some exceptions that the president had mentioned. Let me give you a scene, sort of setter of the mood here and how people are feeling. Volume is really low what you expect to see this time of day in the terminal. Second, people are focused. Theyre wearing their masks. Theyre trying to take safety precautions but theyre coming and going with a mission if you will. There is no longerring, conversation, that kind of thing. Im not saying this to be funny, it is an anecdote. I looked at the board, there were 75 people standing there. David, 50dollar bill cash on the floor. Nobody noticed it, nobody went to pick it up, they were looking what they needed to do in and out. That is the feeling you get here. Not to add to the hysteria youre talking about with scott previously but people coming in and out of the airport definitely are a little concerned and with this kind of ban in place those who are staying calm and coming to do business here and whatnot, are saying should we be more concerned when you institute a travel ban like this . So a lot of questions, you know, about how the airlines will handle this, how the passengers will handle this, how the employees will handle it. It will all come out and develop more in the fuse days, david. David i can guarranty you one thing had Stuart Varney been at the airport and seen a 50dollar bill on the ground it would not have been on the ground for long. I guarranty you of that. Just saying. Reporter it was amazing. David extraordinary, appreciate it. Snoop. Meanwhile we have breaking news to report. The u. S. Democrat National Committee will hold sundays president ial debate, remember there wasnt going to be one had bernie dropped out yesterday. He didnt drop out. He doubled down, wanted to come in the debate, it was in arizona. It will be in washington, d. C. Travel plans easy to arrange in washington. A lot of people are inside of the beltway, that is where the democratic debate between bernie and joe biden will be in washington, inside of the beltway. Meanwhile new rochelle residents on coronavirus lockdown as the National Guard activates to the new york city suburb to help contain what has been the largest cluster of the virus in the United States. On the phone now we have new roche chyle mayor, noam branson. Wonderful to have you again. There is a lot of misunderstanding what is happening in new rochelle. Some people say it is a quarantine, people want get in and out. There is lot of misunderstanding. Set the record straight for us. What does the lockdown mean . Thank you for the opportunity. It is not a lockdown a at all. We have what we call a containment zone that has been established by the state. Within that area large institutions are prohibited from having large gatherings which is Public Health measure given the concentration of the virus in that particular area but it is not an exclusion zone, it is not a quarantine zone. People are not prevented from entering or leaving the area. There are no restrictions on individual residents or individual businesses unless those residents are subject to specific individual quarantines because they have been exposed to a potential carrier of the virus. I, myself, live in the containment zone. In a few minutes i will be having lunch with my family at a restaurant in the containment zone. It is important to clarify the conditions as they actually exist at new rochelle and not exaggerate the impact this is having. David as you we spoke yesterday, my nephew lives in the containment zone as well. He is spending most of his time indoors past couple days. Are stores open, are some Stores Closing down . Are the streets empty . What is life like in new rochelle. New rochelle is open for business. And if you are a a healthy adult we encourage you to participate in the life and commerce of our community. There is no compelling reason not to. We can practice sensible social distancing and follow guidance of Public Health professionals and not feel the need to retreat behind locked doors, which creates its own problems, ultimately selfdefeating. I do want to emphasize, notwithstanding everything i just said this does have Significant Impact on new rochelle. Schools are closed, houses of businesses cant operate, peoples life circumstances are altered. This is a challenge. This is something im confident we can overcome. The level of concern is being applied, often be applied has to be proportionate to the challenge and not exceed that challenge. David i couldnt agree with you more. The National Guard, you spoke to them what are they there for . Theyre hear to provide logistical and operational support. That means delivering meals to kids not able to attend Public Schools but are dependent on free and reduces lunches. We want to make sure they get their nutrition. They will be assisting cleaning public facility with sanitizer. They will help deliver supplies. Those are low gisttic al tasks that far over the capacity of city like new rochelle. There are no police function or roadblocks. Were happy to have the National Guard here to help us. Were confident as operations unfold people will be welcoming of the guards presence. David our earn my is a virus, not a nation or group of people but a virus. Thank god for the National Guard. They do a great service. We wish you the very best. Our prayers are with you and your community. As i mentioned i have some skin in the game that sense. Thank you again for joining us, mayor. Thank you. David mayor branson from new rochelle. We have breaking news. Weve been talking about how the sports world, how the virus is rocking the sports world, now the nhs, the National Hockey league, we heard about the nba which youre seeing on the screen, the nhl is ready to suspend the season amid the virus concern. We dont have time period, how long the season suspension may happen. These are suspension, not canceling the entire season, not nhl or nba. Nba mentioned a two week suspension. Well talk more with that with mike ozanian coming up. The New York Post has reported that the nhl is suspending its season temporarily. Fox newss william la jeunesse with latest on the sports world, how it is affecting sports in america. William . Reporter wild 24 hours in sports. There is pressure on teams and leagues to follow the nba. Moments ago Major League Soccer League Postponed its season for 30 days. Nhl this morning told clubs not to practice, cancel Team Meetings as you said. They may postpone their season for period of time. The last 15 minutes, big 10, sec, wac, pack 12, acc, canceled their basketball tournaments. Ncaa is standing by its decision to hold the march madness tournament without fans. Just family and staff. Well see if that holds up throughout the day. Lets get going with the nba, how this developed yesterday. They canceled a game when rudy gobert of the utah jazz tested positive last night for the coronavirus. On monday he mocked League Policy by touching all the microphones at a press conference. Well, 1000 miles away last night in sacramento, the kings canceled a game because referee officiate did a gobert game. He officated games affecting dozens of players, shedding sweat with every dribble, forcing nba to can sell the season on postpone it all together. It was a decision, that was a necessary decision. You cannot put the other players in peril. Reporter i spoke to an owner yesterday. He said there was pressure on the mlb, Major League Baseball to follow suit so far because they dont want to be seen as come place end or greedy. Nhl season up until few minutes ago was uncertain. Rodeo, nascar, they are banning gatherings of larger than 250. Owners and players take a hit, the real victims, david, as you know are the ticket takers, the millions who work the games and clean up the arenas every night for concerts, conventions, so forth. So now we have learned also that done nan mitchell, rudy goberts teammate tested positive. As for golf, pga tour continues without fans. No word on the masters in april. Back to you. David wow, william, thank you very much. Lets look at the dow it is having the worst day since the 1987 market crash. It is early own, early hours, we could see a turnabout later in the day. That is extraordinary count. Remember that was the day in october much 1987 where the markets went down over 20 in one day. Were a long way from that. Add it up over past day, last couple weeks, were well over 20 loss. 20 loss was the our bear market indicator. Were in a bear market. Our bull market ended, the 11yearold bull market. This is the worse percent day since 1987, if it stays at it is or gets worse. Lets bring in sean ohara, Raymond James policy analyst, ed mills, baltic head of research, Catherine Rooney vera. Let me begin with you. Is there hope of a bounceback . I mentioned to scott scott shel, we have many viruses. After six month period, the market is above where it was when it began to drop because of the virus. Six months would take just about to the election. Could we have a complete turn around by then . Not only is it a hope, david, my base case scenario. No one can determine the longevity of the contagion and this panic. If one assumes this is event driven shock to the markets, that historically has been about a sixmonth impact for the markets. Which gets us to approximately july. If we get a decrease in the velocity of you know, the contagion and the growth rate, then markets think i will turn around. My issue, david, is always the following is demand and aggregate demand equation which we use to calculate gdp being destroyed or delayed. Fit is latter, you will get a rebound in the latter half of this year. David if it is the latter, we could also have pentup demand which would mean explosion of people going out and buying things. Exactly. David ed, on the production side, our economy was doing extraordinarily well. We were bringing jobs back home that had gone overseas in the previous administration. Job situation better than my lifetime. How much after buffer to this shock were now seeing, how much of a buffer was the extraordinarily Strong Economy going into this . I think that is a great question. I think the buffer the market is looking for is a buffer of fiscal stimulus out of capitol hill, as well as buffer from monetary stimulus coming out of the fed. We thought going into this week we would have more clarity come thursday. Democrats introduced their bill last night, are going to vote on it today. However you dont have bipartisan support. We still dont have the president s plan. We dont have a republican plan in congress. Powell has been mia this week. So we do have a strong buffer from a fundamental from a fundamentally Strong Economy. Markets need fiscal and monetary stimulus to find bottom. David sean, yesterday the president met with the Banking Community. They were clearly working on the plans. While it is possible it may be slow to get some kind of a tax cut, we could get other measures, measures that would satisfy the Banking Community . That make sure we dont have kind of a spiral down in the financial situation we saw in 2018 and 2009 . 2008 and 2009. I dont think this is a financial equation right now. I think the equation right now how we stop the spread of the virus and the only plan being put in place is containment and keeping people separate. If that is the medicine to cure the expansion of virus, the medicine to stop the virus is actually killing another patient and that is the economy and stock market. So cutting rates isnt going to make people go out of their house or fly on airplane or take a cruise or go to disneyland or sit next to somebody in a stadium. That is the dilemma. That is the real problem. The solution, and it needs to be at this point drastic, more drastic it is, more negative effect on economy and corporate earnings. Well have to see how long this lasts and then how quick it takes to put things to revamp back up once its over. David okay. Panel, thank you very much for riding with us on this wild ride of a day. The house is expected to vote on their own coronavirus legislation today. Edward lawrence is live on capitol hill with the details. Edward . Reporter david, you saw the administration making their moves. Now things are moving quickly on capitol hill but there is some questions now actually what is inside of that stimulus bill from House Democrats. The Senate Majority leader Mitch Mcconnell says he opposed the bill as it is written. House minority leader Kevin Mccarthy says they need to cancel recess next week, take some time and get this right. I believe there are big things that will take more time. Lets do what we can do together right now. We can work on those bigger things and come back in the next couple weeks. But i do believe it is critical that we get a small portion of this done right now. I think it helps give confidence. Reporter he thinks something can be done within the next 48 hours if House Speaker nancy pelosi comes and makes some of those tweaks to it. Now his concerns are this just grows government as the bill is written and doesnt get stimulus need. Inside of this bill one billion dollars given to the Food Assistance program. That includes expanding food stamps. Five million for Emergency Paid Sick leave to the department of labor. It also expands the Social Security Administration Authority to give sick leave. That would be for one month to three months at 2 3 of average monthly earnings. The bill would expand unemployment insurance, giving billion dollars to emergency grants for states. It requires testing for coronavirus to be free for the insured and uninsured. The House Speaker says, these things will add stimulus, and they are tweaking the language. Negotiating with secretary mnuchin, he has some suggestions all very reasonable. I think none of them is, would prevent us from moving forward with the bill. Reporter the House Speaker now had three conversations with treasury secretary Steve Mnuchin this morning about tweaking the language of this Going Forward. Still no agreement as of yet in terms of what the administration likes and what the senate would like to see here. One more note, we saw the first case now of the coronavirus here on capitol hill. Senator cantwells office has a staff member that tested positive. The rest of the staff is in quarantine. Were starting to see senators on capitol hill close their offices. Senator ted cruz and senator mitt romney closed their offices and sent their workers home to work from home. David edward lawrence, good to see you. Italy is tightening the complete lockdown of the country, ordering bars, restaurants, most shops to close as coronavirus death toll climbs. Amy kellogg in florence, italy with the very latest. Amy, i wonder how you get around there . Reporter david, italians themselves will tell you they are quite good at and theyre proud of the fact then know how to skirt around rules but i have to say i have observed and others have pointed out that they have been following these new guidelines with complete rigor. It was last night when the Prime Minister put this most stringent measures to date on this country, basically shutting everything down except for Grocery Stores and pharmacies, post offices and public transportation. If you have to go out for something, you need to carry a selfcertification reason for leaving the house. There is three or four foot distance of people in lines here in stores. Here in country where lines get lively and jostling sometimes, there has been order. Squares and streets across cities are empty. It is eerie indeed. Near total of country had not been expected at all. It was talked about for the milan area. But the Prime Minister last night spoke of italy as one entity. Pope francis continues praying for the sick and Front Line Health Care workers. Even those prisoners who have been rioting, david, because their visittations with family have been restricted. You need to prove a reason for leaving your house. The former Prime Minister last night, david, said hopes rest of the world will take a lesson from italy. Perhaps italy was late in containing the spread of this virus but he pointed out what theyre doing now is critical. It is not a moment to say, we have no fear, were going to keep going to the theater and the movies in other countries. He said, it is not like a terrorist attack when you can say, life goes on. Life doesnt go on as normal now. At least not until the virus is under control. Here and in other countries. David. David amazing that italians are following the rules on this. Thank god they are, amy. Thank you very much. Great reporting. Appreciate it. S p 500 and nasdaq joining the dow, dipping into bear market territory. Charlie gasparino is here. Charlie, we focus on stocks. Right. David but you suggest we should keep a sharp eye on what is happening in the bond market. Around the fed really is. Because the fed knows that the bond market is kind of the glue that keeps Financial Markets together. In order for businesses and Financial Firms to get financing they need collateral. Often that collateral is not to be found. People are piling on bond on risk on trade. There is lack of supply. That creates lack of liquidity. That is where the thing could get really nasty, there is no liquidity in the markets for people to borrow. If that does happen, it increasingly happening, not only hedge funds taking loss, being short bonds or whatever, you are going to have an issue where people cant borrow, therefore the shortterm borrowing markets close down and shut down. That is kind of what happened during 2018. Right now david we should hasten to mention very different situation. Hugely different. David banks are far better capitalized but what about the possibility of the fed, if nobody else can buy bond the fed going one of triggering events of 2008 was a jamup in what is known as repo market, short term borrowing market. The fed has to come in, a lot of people are saying they will do in an emergency way, somehow infuse the market with more bonds, so people borrow, there is liquidity. There is actual trading going on. What i keep hearing is in the ether. We asked fed about this. Will you do it . No comment from them. They have been very quiet. You know, it is a very odd situation. They have provided liquidity in the short term borrowing markets. We heard that. But you know, something, were talking here possibility of the need for something more dramatic. David yesterday the president met with banks. One must assume that there was a member of the fed at that meeting or at least somehow they know what is going on. David the fed new what was happening in that meeting. Ken griffin of citadel, one of saviest investors out there was at the meeting. No doubt ken griffin told him what is going on. I dont know for that a fact but he said mr. President , this is what david we saw what happened in december 2018 when they turned around policy. New york fed is the eyes and ears of the bond market t take as central role during these times and the new york fed will be monitoring this very closely. So thats what i think is happening. The problem though is even aside from that, okay . You just dont know what is happening next here and i think in, there is such potential for market to snap back violently positive in couple weeks if we get our hands around this but there is also potential, if, if e. R. Es and icus cannot handle caseload, this thing getting worse. That fear trade, the known unknown, whatever they call it. It is really a scary thing and you know, i think what well have to see is something dramatic. Here is the thing, david, what dramatic fiscal stimulus can they do to deal with this . Not easy. David particularly almost zero interest rates. You knew, during the financial crisis, i covered it, to deal with it. Qe takes banks Balance Sheets and fuels with cash. Qe does not help here. Payroll tax cut, no one going to work, does it matter . David we should pay more attention to the bond market particularly in light what charles live told us. Charlie, good stuff. Back to capitol hill, House Minority leader Kevin Mccarthy says congress should stay in session until they get the coronavirus bill related. Patrice lee onwuka where all this is going. Thanks for coming in. Good to see you. Good to see you. David we have to come together, that is the bottom line message here, we have to come together but we are going into an election. The rhetoric has never been as hots politically as it has been over the past can we come together here over the schumer rhetoric we heard earlier in the week . I hope so. Americans ares are looking to congressional leaders how to move forward. The problem is this opportunity for members to get wishlist much idealogically desires to pass through congress in short, undebated manner . I think that is what we heard from minority leader just now, talking about, the problem with the bill that the democrats came out with last night is that it was introduced at 11 00 p. M. , very little debate, but included are billions of dollars in expanded spending on programs for snap, for, for extending, you know, benefits and particularly a new mandate on all businesses related to paid leave. I think that will be a Sticking Point a lot of republicans are not willing to get on board with even in the midst of this crisis. David i should mention, were hearing from the white house now willing to table at least at this moment payroll tax cut there is compromise being made in terms what the two sides are offering. Are we hearing any sort ever compromise at all coming from the democrats . Well, no. Nancy pelosi is digging her heels in. She feels like she has the white houses backing. Going back and forth with treasury secretary Steve Mnuchin trying to talk about, hammering out some issues in this deal. She feels like she has leverage in this case. She feels like the house will get this passed regardless what happens. The question is though, the house may pass it, will senate pass it . It republicans are pushing back on things like expanding, actually introducing a new mandate on all employers, Small Businesses included, that is going to be a nogo. David patrice, we have only 20 seconds, chad pergram, our expert producer, correspondent inside of capitol hill says congress cannot leave washington unless they have some bill that the president can sign. Do you agree with him on that . I agree they need to get something done, yes. David so there will be something done. We just dont know exactly what it is. Exactly. David thanks very much for being here. Coming up, colleges are closing. Does that mean seniors should start looking for jobs . More on that coming up. Y capability of the strongest, most advanced silverados ever. With best in class Camera Technology and larger, more functional beds than any competitor. The only truck that can compare to a silverado is another silverado. Truck month is the right time to get behind the wheel of the chevy silverado. Now, get 0 financing for 72 months plus 500 dollars cash allowance on all silverado 1500 crew cab pickups. Find new roads at your local chevy dealer. Colon Cancer Screening for people 45 plus at average risk. Some things are harder than you thought. And others are easier. Like screening for colon cancer with me, cologuard. Im noninvasive and you use me at home. Im also effective. I find 92 of colon cancers using dna in your stool. So why wait . Cologuard is not for those at high risk for colon cancer. False positive and negative results may occur. Ask your Healthcare Provider if cologuard is right for you. Most insured patients pay 0. 100 online car buying. Carvanas had a lot of firsts. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. David welcome back, everybody. Im david asman in for neil cavuto. Take a look at the markets. They, believe it or not, have recovered some of their losses. We have recovered about 4 of the loss today. Its still major, major loss, down 1300 points to 22,200, but again, we were down almost 10 earlier. We were down about 9. 75 at our days lows. Again, anything can happen between now and 4 30 when markets close. That gives us about an hour and a half. We will take you through the next hour. There was a halt in trading right after the market opened. That was because of the fact that it went over 7 loss on the dow, opened about 20 minutes later, continued to go down until we reached record lows of the day. Kristina partsinevelos is at the nyse on what traders are doing besides covering their heads. Kristina theres a lot of movement and that has to do with the new york fed. Its hitting the wires that the new york fed will be opening up their pocketbooks, to the rescue, here comes the fed, they will conduct a 2 trillion repo over two days to stabilize markets. They are going to conduct purchases across a range of maturities. We are expecting about 500 billi billion. We are just waiting for more details of that trickling out. Because those headlines are hitting all the terminals here, we are seeing it up off session lows, up pretty much 700 points. We are talking about movement today. Theres been a lot of profound changes in the market. The travel ban really, really weighing on everyone because you have a freeze of people essentially in the United States. When i was going to go on air i would say we were on track for the worst day since 1987. Not the case anymore. We are seeing a little bit of rally because the fed has opened up their hurpurses but stocks a taking a hit. The Financial Sector has been hurt for quite some time. Barclays seeing their worst day since 2009, down 14. They have two cases of coronavirus traders here in new york on their floor, not this floor, at their office in midtown as well now. Latest one in london. Img, another Financial Company thats taking a major hit. You are seeing financials sell off with the largest one there, citigroup. I want to bring up occi, occidental petroleum. Heres a bright spot. We are constantly trying to find a bright spot. Look at that, up almost 18 . Why is that . Wellknown investor carl icahn has increased his stake from 2. 5 to 10 , looking to get rid of the entire [ inaudible ] and hes doing that because oil prices are plunging. We will end with the vix. When i was coming to set it was at 67. We havent seen highs like that since 2008. Now its dropped ever so slightly. That has to do with the fact the new york fed has announced they will be repurchasing program. Back to you. David i should mention, just another individual stock, boeing which of course weighs heavily on the dow, their stock trading has been halted. Is it still halted, producers . I believe it has been. We will keep an eye on boeing as well. That affects the market mightily. Meanwhile, state officials in oregon and california banning large gatherings of 250 people or more, with more states looking to follow their lead. Fox news correspondent Claudia Cowan has the details on this. Reporter thats right, city leaders across the west are setting limits on public gatherings. You just mentioned oregons ban on public events. That announced just a short time ago. And the governor of california also advising similar restrictions here, saying quote, nonessential gatherings must be limited to no more than 250 people, while smaller events can proceed only if the organizers can implement social distancing, meaning people need to stay at least six feet apart. The mayors of San Francisco and oakland have imposed bans on events of more than 1,000 people. Theaters are canceling performances, sporting events and conventions have been called off or postponed. In Washington State, events and gatherings in the hardhit seattle area must now be capped at 250 people, and some 53,000 students who attend seattles Public Schools have been told to stay home for at least the next two weeks. Washington now reporting 366 covid19 cases, and 29 fatalities. The death toll there, almost tripling in the past week. Three deaths here in california, 180 confirmed cases, thousands up and down the coast are being monitored and off the coast, too, because when the grand princess cruise ship leaves from the port of oakland later today, those 19 crew members who tested positive for covid19 will stay on board because they are not showing symptoms. The captain and some 1100 crew members will spend their quarantine at sea. Earlier this morning, Princess Cruise Lines announcing it is canceling all cruises for two months. Back to you. David thank you very much. Lets take a look at the markets because its a significant recovery. Again, its hard to imagine an 800 point drop being a recovery, but it is, when you consider where the market was. This coming on the heels of the news that the new york fed was going to get into the market, we wont get into all the details of what a repo sale is like, but the fact is what they are doing in trying to help out the market right now is having an effect on the market right now, which had been down close to 10 earlier in the day. Charlie gasparino, we just had on talking about how the fed needed to take action, indeed they did exactly that. That is the new york fed in particular. Meanwhile, coronavirus shutting down College Campuses across the country and moving online. Lauren simonetti has the latest on what this means for students. Lauren yeah, the implications, right. Dozens of colleges, we will show you just some of them, are moving their Classes Online and they are telling their students get out of here, go home to your parents house, get off of campus. The reaction so far from the students has been mixed. I think its a tough decision for them, obviously, but i mean, if the dangers continue to grow, it might be a necessity at that point. It sucks because its my senior year, but kind of crazy because nobody really knows whats going on. Lauren so what happens to your room and board bill, right, if youre not there and you dont know when youre going back to campus. Well, universities including harvard and amherst are prorating those fees starting on march 15th. Other schools like penn state are not offering refunds for time missed, at least not at this time. Of course, the situation is fluid. Theres also concerns about graduation ceremonies, big events, big crowds, you plan them ahead of time. But the colleges are saying its very likely that they skip the fanfare this year, including the state and city universities of new york, which are having their near 700,000 students learn online, stay off campus until the end of the semester. If you are a senior about to graduate, looking to enter the work force this summer, maybe, some advice. Sharpen your phone skills, like when you get on the phone and talk to somebody, because Many Companies are sending their employees home so your interview is likely going to be virtual or over the phone. Solid linkedin profiles, do whatever you can to sharpen up your digital image as you try to land your first, you know, postgraduation gig. I remember mine. I remember being nervous. David i remember mine when we had an Unemployment Rate of about 10 . Its always good to be baptized by fire and i think thats whats going to happen to the seniors this year as well because of whats happening. Great stuff. Thank you very much. Well, stocks have cut their losses as you can see pretty dramatically, as the fed says it is going to make adjustment to repo operations. You dont want to get involved right now in what that is if you dont know about it because its a long conversation. Bottom line, this is exactly the kind of medicine that the market was looking for, and in fact, they are going to get it. That has caused a reduction of the loss, if i can put it that way, a recovery of sorts, even though the market is still down about 4. 33 . Lets bring in geltrude and Company Founder dan geltrude, kellyjane torrance and market watch columnist bret aarons. Bret, let me start with you. We have seen the charts of all the other viruses, and after six months, you see recovery where the markets are better than they were when they started going down as a result of the virus. Is it possible, despite the fact that this virus is different, far more contagious than any we have ever seen, that we can have that kind of recovery . There used to be a saying on wall street that the time to buy is when theres blood on the streets. My new version is the time to buy is when they are running out of toilet paper. When theres a run on toilet paper, that is when you have to start looking on the bull side. I think theres a substantial i put my bull market tie on here to try to help. We were down 2,000 points, now only down 1,000 points. Look, we dont know, theres so much we dont know about this thing. I actually want tom hanks to run for president because hes the only person on the planet who isnt losing his mind right now and he actually has the virus. Hes staying calm. Meanwhile, everybody who doesnt have the virus is panicking. I think theres a substantial chance that we will get the scale of the fall is really kind of 1929ish, 29 or 2008. This is not a one day off. 87 was a one day. I heard from a money manager, very experienced money manager this morning who said he had gone back and looked at the numbers and if you went back to the spanish flu, worst case scenario, devastating flu 100 years ago, tens of millions died. He said actually, the markets recovered very strongly and very quickly. I know we are just talking about markets at a time when people are dying. David whats different now than whats in 20082009, the fundamentals of the economy are very strong. The markets, the banks are very well capitalized, et cetera. We now see with a little bit of input from the new york fed that we have seen a recovery today when the markets looked like they were going to go down over 10 at one point today, now they are down 4. 5 . Do you think that it is possible that with enough help along the way over the next couple of weeks, we can come out of this clean in six months . Yes, i think it is possible, david. What we are looking at right now is so much uncertainty, so even though we have the fed getting involved and trying to stave off, you know, a really crazy situation, based upon whats happening with canceling professional sports and all these other things, i think this is going to last awhile. But what i think may be different here from what we saw in 2008, i believe that we could see a true change in behavior Going Forward. For example, not having facetoface meetings. I think there could be a shift in people telecommuting more permanently and more often. David we have been there before. That happened after 9 11. We saw the move towards teleconferencing. It reached a crescendo and pulled back a little bit. It may be something we go through from time to time. But i want to talk about the political implications. Six months, not directly but close to the election coming up. This virus was started in china. Its the wuhan virus. Thats what it is. It spread in europe much faster and more quickly than it did in the United States. Nevertheless, our president is very often saddled with a situation even if he has no nothing to do with its creation. What if this happens to that president going into this election . Im glad you called this the wuhan virus. Because we talk about the spanish flu, apparently only now are we no longer allowed to use geographical david go ahead and use it. Youre right, it is a problem, it is a risk. I think thats one reason i think republicans are very nervous and looking at what they can do to help the economy. Of course, the economy was Donald Trumps best Success Story and its one thing voters really think of. Looking at hey, the markets are going up right now, something happens one day and everyone in washington wants to have a huge stimulus package, what can we do to fix this. Maybe wait a day or two, see what happens. David one thing a lot of people are saying we cant wait for is to bring some of our pharmaceutical products back home, to bring the manufacturing back home. As im sure a lot of those folks out there realize, as much as 80 , even 90 of the ingredients in a lot of the medications we take in the United States are actually manufactured in part or wholly in china. Now, we have threatened in their eyes to bring some of that manufacturing back here. China has come back and threatened us that they would impose drug export controls, presumably keeping a lot of our vital medicines in china if we try anything like that, and they have actually said quote, we will plunge america into the mighty sea of coronavirus. This comes from an article in the Chinese Communist newspaper. How do we respond to this . I think this really shows why its always been so dangerous to rely on a communist country like china really for anything. The early part of this crisis, we saw people worried about supply chains. You cant put all your eggs in one basket. I think thats just Good Business sense. When you are talking about something as important as pharmaceuticals, i mean, this is just crazy. Remember years ago when there was all these poisons in dog and cat food that was made in china. I wondered then arent people going to be worried . This is not a country we can rely on. I think again, people are dying, its bad, but i hope this coronavirus really is a wakeup call. I know a representative in congress is actually cosponsoring a bill that would make the u. S. Military not rely on china for pharmaceuticals. I think thats absolutely right. I think probably the biggest, most obvious change from this is going to be a big change in supply chains, people going to rely much less on china or any individual david thats probably a good thing. Gang, thank you very much. We will talk about baptism by fire. A blockbuster beverage deal made right in the middle of a major market slide. Pepsico buying Rockstar Energy drink. The ceo russ winer joins us now. Russ, i love your story for many reasons, first of all because it hasnt all been straight up, has it . Well, i have to say today, since i came in the studio, the market was down 10 , now its only down 4 . I hope im bringing some good news to the world by talking about my Success Story. I think i might be the happiest man in the world. David you timed it perfectly. I did. I sure did. Well, the American Dream is alive and well. Thats really what this is about and why i wanted to come in today. I wanted to give everyone a little bit of hope in this sea of hell, to be quite honest. I know how hard it is out there, and i know how people are going to be struggling. For me, im blessed. I still work as hard today as i did 20 years ago to build this business. I dont know what im going to do next because i cant stop working but im sure i will figure something out that will be productive. David by the way i wanted to come on and talk about the story. David i want to hear more about the story but of course, the virus is on everybodys minds for good reason right now. And in the food and drink industry, there are a lot of questions that americans have of whether that supply chain will be stuck because of the virus. Youre very much in that market. What are you hearing about it, about factories and so forth . Are they closing or thinking, making plans to close or any of that . Well, i will give you some insight. I have heard from my suppliers that its very interesting you asked this question, i will gladly talk about it because i do have some knowledge. I knew about this about a month ago. Chinese suppliers were basically putting the squeeze on american companies, saying whoevers going to give me a three or five Year Contract will get supplies. If you are a smaller company, you are not going to get your supply. These are more exotic ingredients like taurine, bvit m bvitammins. Coke and pepsi will be fine. Coke has an incredible supply chain around the world. They have no issue with ingredients Going Forward. I know that. We talked in great length about this. My ingredients are safe. We have supply lined up because i started this process about a month ago, planning this, knowing this was coming. David of course, a lot of these companies, forgive me, i dont know whether Rockstar Energy has a pure water product in its midst but certainly pepsico does and coke. Water is going to be a very key ingredient that a lot of people will want to buy off the shelves. Do we have enough supply so that we dont have to worry about a shortage . I also use caffeinated water for another month until the deal closed, then im not allowed to do that any longer. I dont know the answers to those questions. I think we will be fine. Look, i was thinking to myself, what is this like, this is like an alien invasion of the whole world being attacked at the same time. I know how serious this is. But dont forget, america got through world war ii, we can get through a flu bug. We are going to survive. This interview today, i really wanted to come on and bring some optimism and hope. I do want to talk about the story because this is such an amazing story. David go ahead. Talk about it. We have about 45 seconds. Go for it. All right. All right. So in 2000 i was in San Francisco and this is when red bull launched in northern california. It was 2 for that small can. I said to all my friends, i said why doesnt someone come out with a larger size, i dont get it, so easy, no one is making a bigger size. I worked for sky vodka. Maurice campbell was my mentor. He let me go out on my own. I said okay, i dont have any money. He said go figure it out. I mortgaged my condo at 50,000, pretty much all i had, i made a small batch, put it out in the market and it worked because it was twice the size for the same price called rockstar. Our tagline was party like a rockstar. It blacwas black and gold. No one thought it would work. I said to myself i will give it a shot, im young enough, if it doesnt work i will do something else. You can see the results 20 years later. This thing sold for a Pretty Amazing number. Im very blessed and as i started this interview and i will end it, i am the happiest guy in the world today. Im proud of that and i hope that this gives inspiration to the next generation. David it does. It should and i think it will. The point is, russ, this country is extraordinary, no matter how hard we are hit, whether it was on 9 11, whether it was the Great Depression or whether it was the coronavirus, we have these Extraordinary People in this country and you are one of them, who given the right combination of freedoms, can make a product, can fulfill a need that American Consumers have and make it rich and even if you dont make it rich, at least you can make it. So this country is going to make a comeback. Its important to keep that if mind. Theres a new millionaire coming to our shores every day. Im the grandson of immigrants from russia, to be quite honest. My dad and i talked about this. David by the way, we should mention who your dad is. I know you are a man in your own right but your dad is a radio star. Yeah. Michael savage, who taught me well. I hwill give you one story. When i was a young kid he took me to the zoo and put me in front of the lions and the lion cage and let the lions roar at me so i would never be afraid of anyone yelling at me in life. Thank you, dad. David if it worked. Hey, russ, congratulations. Im glad you did so well and you do bring a voice of encouragement to people who could get down on a day like today. Appreciate you coming on. Im happy. Great country. Americas the best. Thank you. David it certainly is. God bless you. Thank you. God bless america. Well, mls suspending its season. What will Major League Baseball do . We go live to spring training after this. Woman my reputation was trashed online. I felt completely helpless. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. David we are just getting a new alert considering sports. I know sports is an important part of my life. Im sure its an important part of yours. John hayman from the mlb network sent out a tweet saying spring training games in florida and arizona are expected to be suspended. We havent had confirmation from the mlb itself but according to john hayman, spring training has been suspended in arizona and florida. We will keep you updated on that. And we have mike hozanian from forbes to talk about whats going to happen with the sports season. Meanwhile, im sure you heard tom hanks and his wife rita wilson revealing that they tested positive for the virus while they were in australia. Fox news correspondent Christina Colvin has the very latest on their status. Reporter david, the celebrity couple is now in isolation at Gold Coast University hospital in australia, listed in stable condition. Before tom and rita were diagnosed with covid19, they visited several crowded australian tourist sites including the sydney opera house. They also posted a few pictures themselves. The alist actors are in australia for the production of an untitled Elvis Presley film. Hanks is playing presleys manager. The film was set to be released in october but Warner Brothers says production has been suspended. Now, tom and rita are both 63 years old and clearly taking their Coronavirus Diagnosis seriously. Hanks shared their symptoms with fans on instagram and twitter, saying in part quote, we felt a bit tired like we had colds and some body aches. Rita had some chills that came and went, slight fevers, too. To play things right as is needed in the world right now, we were tested for the coronavirus and were found to be positive. Also, hanks is no stranger to health concerns. In 2013, he disclosed he had type 2 diabetes. Their son doesnt appear to be too worried about his parents covid19 diagnosis, though. Heres what chet said in part on instagram. They both are fine. Theyre not even that sick. Theyre not worried about it. Theyre not tripping. But theyre going through the Necessary Health precautions, obviously. But i dont think theres anything to be too worried about. I appreciate everyones concern and the well issues but i think its all going to be all right. Reporter as of right now, australia has more than 120 confirmed cases of covid19 and three deaths from this virus. David . David thank you very much. Grady trimble is live at spring training in lakeland, florida, with the very latest. We just heard an alert based on a tweet. We havent had that confirmed by the mlb about spring training. Whats the latest . Reporter well, its interesting to see that tweet and there are multiple reports that spring training will be suspended and the regular season for the mlb might be suspended as well. Whats interesting is that the game is going on right now as we speak inside there. It started a little bit after 1 00 today and they have been letting fans in since about 10 00 this morning. Games still going on, fans say coronavirus is something they are thinking about, but not exactly something thats going to keep them away from the ballpark. Now they might not have that choice at all. The mlb might have just made it for them. But i want to show you how we got here because it took several other leagues and several other tournaments to be canceled, and we have a full screen of how that kind of happened. Several Major College basketball tournaments were canceled entirely. The nba season is suspended until further notice. Mls soccer, its season was about to start in a couple weeks, it suspended for at least 30 days. And the pga tour will continue, but with no fans. There was a lot of pressure on the mlb to make a decision like this and if it is indeed true, which we are still trying to confirm, it will certainly be a bummer for a lot of the fans here. But not exactly a surprise, because with all of those other suspensions and cancellations, they kind of saw the coming. David . David just to be clear, the mlb season might be suspended. We dont have a confirmation on that. And we have been hearing suspensions happening, basketball is going to be suspended for a couple weeks so it would be in keeping, but we dont have that confirmed yet, right . Reporter yeah, thats right. And honestly, i have been, you know, seeing if i can hear anything from the people here but they are still checking people into the stadium who are arriving a little bit late. But at this point, it does seem likely. David grady, thank you so much. To forbes sports money cohost mike hozanian. Before we talk about the money, are you hearing anything about these suspensions, particularly for the mlb . I know mlb is preparing for it, david. They were tossing around the idea of moving the games to stadiums in areas where the virus was not widespread or perhaps as the other gentleman reported, sent down to spring training. Im not assure thats realistic. My feeling is it could be a slightly shortened season. Instead of 162 games, maybe 150 games. David we do have definite on the nba, twoweek suspension of their season. How much of a hit is professional sports in whole going to take from this . How much of a money hit . If you talk about the nba, i think very small, because they are still going to get paid by the networks, where i think what will happen, they will do, as you know, they are called makegoods. Perhaps in future tv deals, because the networks are paying the league now, they will pay a little less in the future, in future deals. They will get hurt a little bit by attendance but in two weeks, its a very very small percentage of their overall revenue. David on the other hand, we dont want to forget all those people that survive in their own way on these games, the vendors, the people who go through the stands selling stuff. You know, at least for a couple weeks in the nba, they are going to be out of work. No question, david. The people that sell the beverages, sell the food, they are going to get hit the hardest proportionally. Also, dont forget a lot of these arenas and stadiums, they are owned by the public. They were built through public subsidies. So the bond holders could feel quite a jolt and also, the local municipalities, because they get tax revenue from tickets, from people going to restaurants for these events, they also could take a hit. If you look at the rating agencies, the last time there was a significant work stoppage in the nba, for example, was 2011. There was a significant hit at the local level and the rating agencies warned many of these municipalities, put their bonds on downgrade warnings. David wow. All right. Mike, hold on if you could. Joe biden is speaking about the virus. Lets dip in there. Neither should we panic or fall back on xenophobia, labeling covid19 a foreign virus does not displace accountability for the misjudgments that have been taken thus far by the trump administration. Let me be crystal clear. The coronavirus does not have a political affiliation. It will infect republicans, independents and democrats alike and will not discriminate based on national origin, race, gender or zip code. It will touch people in positions of power as well as the most vulnerable in our society and it will not stop. Banning all travel from europe or any other part of the world may slow it, but as we have seen, it will not stop it. And travel restrictions based on favoritism and politics rather than risk will be counterproductive. This disease could impact every nation and any person on the planet. We need to plan about how we are going to aggressively manage here at home. You know, you all do know, the American People have the capacity to meet this moment. We are going to face this with the same spirit that has guided us through previous crises and we will come together as a nation, we will look out for one another and do our part as citizens. We have to harness the ingenuity of or scientists and the resourcefulness of or people and we have to help the world to drive a coordinated global strategy. Not shut ourselves off from the world. Protecting the health and safety of the American People is the most important job of any president and unfortunately, this virus laid bare the severe shortcomings of the current administration. Public fears are being compounded by pervasive lack of trust in this president , fueled by adversarial relationships with the truth that he continues to have. Our governments ability to respond effectively has been undermined by hollowing out our agencies and disparagement of science, and our ability to drive a Global Response is dramatically, dramatically undercut by the damage trump has done to our credibility and our relationships around the world. We have to get to work immediately to dig ourselves out of this hole, and thats why today, im releasing a plan to combat and overcome the coronavirus. The full details of the plan, you want to see them, go to joebiden. Com, where i lay out the immediate steps we have to take to deliver, one, Decisive Health response to curb the spread of the disease and to provide treatment for those who need it and a decisive economic response that delivers real relief to american workers, families and Small Businesses, and protects the economy as a whole. I offer it as a road map, not for what i will do as president ten months from now, but for the leadership that i believe is immediately required at this very moment. President trump is welcome to adopt all of it today. The core principle is simple. Public Health Professionals must be the ones making our Public Health decisions and communicating with the American People. Public Health Professionals. It would be a step toward reclaiming public trust and confidence in the United States government as well, towards stopping the fear and chaos that can overtake communities faster than this pandemic can overtake them, and its critical to mount an Effective National response that will save lives, protect our front line health workers, slow the spread of the virus. First, anyone, anyone who needs to be tested, based on medical guidance, should be tested at no charge. At no charge. The administrations failure on testing is colossal. Its a failure of planning, leadership and execution. The white house should measure and report each day, each and every day, how many tests have been ordered, how many tests have been completed, and how many have tested positive. By next week, the number of tests should be in the millions, not the thousands. We should make every person in a nursing home available for testing. Every senior center, our vulnerable population, has to have easy access to the test. And we should establish hundreds of local testing sites, at least ten per state, and drivethrough Testing Centers to speed testing and protect the health of our workers. The cdc, private labs, universities and manufacturers should be working lockstep to get this done and get it done correctly. No effort should be spared, none. No excuses should be made. Tests should be available to all who need them. And the government, the government should stop at nothing to make that happen. We must know how this operates so we can map it, trace it and contain it. Nor should we hide the true number of infections in hope of protecting political interests or the stock market. The markets will respond strong to strong, steady and capable leadership that addresses the root of the problem, not efforts to cover it up. Secondly, we need to surge our capacity to both prevent and treat the coronavirus and prepare our hospitals to deal with its influx of those needing care, as i have been saying for weeks. This means not just getting out the testing kits and processing them quickly, but making sure communities have the hospital beds available, the staff, the medical supplies, the personal protective equipment necessary to treat the patients. The president should order fema to prepare the capacity with local authorities to establish temporary hospitals, with hundreds of beds on short notice. The department of defense should be planning now, to prepare for the potential deployment of the resources provided, medical facility capacity or Logistic Support that only they can do. A week from now, a month from now, we could need an instant 500 bed hospital to isolate and treat patients in any city in this country. We can do that but we are not ready yet and the clock is ticking. As we take these steps, state, federal and local authorities need to ensure that theres accurate up to date Information Available to every american citizen. To everyone, so everyone can make an informed decision about when to get tested, when to selfquarantine, when to seek medical treatment. And the federal government should provide states and municipalities with clear guidance when to trigger more aggressive mitigation policies such as closing schools. Third, we need to accelerate the development and treatment of a vaccine. Science takes time. It will still be many months before we have a vaccine that can be proven safe for public use, produced in sufficient quantities to make a difference but therapeutics can and should come sooner. This will save lives. When i put together and we passed the cures act of 2016 to accelerate work at the National Institute of health, but now it has to be made available, make available resources to speed that process along. We have to fasttrack Clinical Trials with nih while closely coordinating with the fda, food and drug administration, on trial approvals so that science is not hindered by the bureaucracy. And when a vaccine is ready to go, it should also be made widely available and again, free of charge. We should also immediately restore the White House National Security Council directorate for Global Health security and biodefense. With a fulltime dedicated coordinator to oversee that response. Our administration, our last administration, we created that office to better respond to future Global Threats after the ebola crisis of 2014. It was designed for exactly this scenario. But for some reason i still dont understand, President Trump eliminated that office two years ago. Look, heres the bottom line. We have to do whats necessary to meet the challenge, meet this challenge sooner rather than later. We will beat it. I assure you if we wait for it to worsen, then scramble to catch up, the human and economic toll will grow faster, larger and more dangerous. Congress gave this administration 8 billion last week to fight the virus. We need to know exactly what that money is going to be used for, how quickly its going out the door and exactly how its being spent. This brings me to the second half of the challenge in terms of economic dislocation the coronavirus is going to cause in our country. We must do whatever it takes, spend whatever it takes, to deliver for our families and ensure the stability of our economy. Taking immediate bold measures to help americans who are hurting economically right this minu minute. It means we need bigger and broader measures to shore up the economic demand, protect jobs, keep credit flowing to our job creators and make sure we have economic firepower we need to weather the storm and get the people and this economy back to full strength as soon as possible. This crisis will hit everyone but it will hit folks who live paycheck to paycheck the hardest, including working people and seniors. Another tax cut to google or goldman or millionaires wont get the job done. Another tax cut to these folks will not get the job done. Indiscriminate Corporate Tax subsidies wont effectively target those who really need the help now. We need to place our focus on those who are struggling just to get by, people who are already losing jobs. We need to replace their wages. That includes workers in the gig economy who lack unemployment insurance, parents who are already struggling with child care costs. We need to give them relief. Children who rely on school lunches. We need to buy food for them. Those who dont have easy access to computers can still learn if their schools shut down. People who have difficulty paying their rent or mortgage because they have been laid off or had their hours cut back need the help to stay in their apartments or their homes. Small business will be devastated as customers stay home and events are canceled, and we need to make sure there is access to interestfree loans. Not loans with interest. Interestfree loans. Its a National Disgrace that millions of our fellow citizens dont have a single day of paid sick leave available. We need both a permanent plan for paid sick leave and an emergency plan for everyone who needs it due to the outbreak now. Beyond these national measures, my plan also calls for the creation of a state local Emergency Fund to make sure governors, mayors and local leaders who are battling the coronavirus on the ground as i speak have the resources necessary to meet this crisis headon now. These funds can be used at the discretion of local leaders for whatever they need most, from expanding Critical Health infrastructure, hiring Additional Health care and Emergency Service personnel, or cushioning the wider economic blows this virus is going to create in their communities. We need smart, bold, compassionate leadership thats going to help contain the crisis, reduce the hardship to our people and help our economy rebound. Let me be very clear. Unfortunately, this will just be a start. We must prepare now to take further decisive action, including relief that will be large in scale david all right. We took a lot of that talk by the former Vice President there and as he was speaking, we noted that the market was going down. Again, it might be coincidental. There are a lot of things happening. Its very much of a moving situation. But he certainly wasnt helping the market. It is now down again to 8 on the negative side closing in on a 2,000 point loss. Its down 1,892 points right now. Again, whether this was coincidental to what the Vice President was saying, the former Vice President , we dont know, but for those who had hoped you could keep politics out of the national fight against this virus, im sorry to dash your hopes, but as you could just see, the Vice President biden seemed committed to taking that issue headon. He said of the virus that it has, im quoting here, laid bare the shortcomings of this administration, going after specific policy that the president had, in particular the travel ban that was announced last night which will go into effect at midnight on friday. Also talking about what he would offer that the president is not offering. Blake burman is at the white house with the latest. I was interested to note that the Vice President said that we should have free tests. I dont know if he missed the fact that Insurance Companies have come together and said that they are going to waive all of the copays for the tests for viruses once those tests are available. Reporter yeah, thats part of it. I think theres also an issue here thats being worked out in washington as to how it works with the uninsured. This is part of the discussion that is playing out right now as the white house through treasury secretary Steve Mnuchin is in negotiations with the House Speaker nancy pelosi as to what the sort of package might look like. Those discussions are taking place up on the hill at the moment. The president who we heard from, President Trump, who we heard from earlier today, said as things stand right now, he cannot support the package that House Democrats have put forward. You see the president earlier today, he hosted his counterpart from ireland and in those comments in the oval office, the president defended his decision to shut down european travel into the u. S. The president says the coronavirus has been too widespread into europe and he said he had to act immediately before consulting european leaders. Here was President Trump earlier today. I dont want people dying and thats why i made these decisions. Whether it affects the stock market or not, very important but its not important compared to life and death. So i had to make that decision and frankly, the people that are professionals praised the decision and its something i had to do. Reporter the president also talked up social distancing. He will not be flying tonight to las vegas and colorado tomorrow for events that were scheduled there. His campaign has postponed an event for next week as well. This morning the president spoke with the commissioner of the pga tour and says he agrees with the decision that other sports leagues are making. Keep a little bit of distance away. Thats why the sporting events are a little bit tough because you have people sitting in small seats right next to each other so its a little bit tough. What happened with the nba is pretty incredible but you look over in europe, and you see their big soccer matches were canceled. Its Pretty Amazing. Reporter today, President Trump defending his position, talking up this idea of social distancing, members of the seniormost level in his administration trying to hash out this spending package. It was interesting to hear from the president today say that a payroll tax cut might not come immediately, not only as you heard from joe biden talk about tax cuts, democrats dont support it but there are some republicans in this town who dont either. David just for the record, the former Vice President saying the tax cut idea would benefit goldman sachs. That, i dont get. A payroll tax cut really benefits the working man at the lower level, not necessarily the top. Reporter theres a tax cap there, as you know, at Something Like 135,000 or so. David i will leave that discussion for a political one. Thank you very much. I appreciate it. As blake was just saying, the European Union is now condemning President Trumps new travel ban from europe. President trump responding to all that earlier. Watch. Well, we get along very well with european leaders but we had to make a decision and i didnt want to take time and you know, it takes a long time to make the individual calls and we are calling and we have spoken to some of them prior to, some of the majors, prior to, but we had to move quickly. David reaction now to that ban from former u. S. Ambassador to the eu, stuart eisenstat. What do you make of that travel ban . After downplaying the risks of the virus for weeks, making it a partisan issue saying democrats were responsible for hyping the issue, saying businesses go forward, its heartening to see that the president has pivoted, recognized the gravity of the problem and wants a bipartisan solution. However, the speech last night, in my opinion, had two deficiencies. The first was it was an America First speech rather than one that showed u. S. Global leadership for a global problem. On the eu travel ban itself, this was done without any consultation with either Airline Industry or eu officials, and ironically, it exempts, for example, the united kingdom, whose own Health Minister has the virus and which on a per capita basis has more coronavirus cases than almost any other country in the eu. In addition, it was a lost opportunity because of all the inaccuracies that had to be corrected that sowed confusion. Did it include cargo or did it not, the insurance waiver was misstated. All of these things showed a lack of consistency. So i would have preferred a consultation with the European Union, perhaps, for example, italy where there really is a problem, but on other countries in the eu, where theres not, including the uk, that might have been exempted. David if i could just chime in here, i love europe, dont get me wrong, its a wonderful place to go. Ive got friends who live there. Some of whom are in various governments there. But theyve made a lot of mistakes along the way with this virus. We see that played out. Maybe they are trying to correct that in italy, god bless them, i wish them all the best, but the president had to act very quickly and sometimes you get involved in a bureaucratic morass when you try to work with the europeans on something because each country has its own design of how to deal with things. Im willing i like the way that we do things here. I think they are more efficient than the way they do things there. Thats my opinion. Whats yours about that . If we had acted four weeks ago before the horse was out of the barn, it may have helped. But here, by being selective and again, exempting the uk when they have more cases per capita than any others, i think is a real problem. It should have been done in consultation with the eu. David they werent doing it themselves four weeks ago. Thats why italy yes, we were, ambassador, forgive me for correcting you, but it was february 2nd when we initiated our chinese travel ban. That was more than a month ago. And we were the first ones doing it. The president was criticized by none other than the head of the World Health Organization for that travel ban. So the president has had experience at being criticized for doing exactly what you say he hasnt done. We have been slow to get kits out, we have been slow to get testing out. David true. True. And our own infrastructure hasnt worked as it should. We dont have the resources for the cdc. David there are reasons to criticize but david what bothers me is going on the advice of people who have been wrong about how to deal with this virus is something i dont think we should do. Look, the president has to protect americans first. Theres no question about it. The travel ban per se could have some impact in slowing this spread in the United States. But this should have been done weeks ago and again, there was plenty of opportunity to consult with the europeans and there is an address in brussels. You dont have to go to 27 different countries. That was not done. It was done precipitously, then the facts were so misstated about whether cargo was to be included david by the way, its not being included. I just need to ask you about one other thing that happened from europe which is of great concern to a lot of people which are the statements of Angela Merkel that as many as 70 of the german people could come down with the coronavir coronavirus. If that were true, by the way, that would mean that hundreds of thousands of germans will die as a result of the virus. Do you think it was wise for miss merkel to come out and say Something Like that . I know the chancellor, i go to germany very frequently. I do not think it was wise. She was suggesting if nothing is done, it could be this high but the headline is 70 , i think thats sowed more fear and confusion in europe than was necessary. David ambassador, it is a pleasure to have you on. We may disagree on certain issues but you deal with them honestly. We really appreciate you being here. My pleasure. Thank you. David thank you very much. Coronavirus concerns leading to a growing list of event cancellations nationwide. Susan li is here with the very latest on that. Susan just a few minutes ago, the nhl confirmed they are suspending their season. I was looking at the broadcast rights for the nhl, 200 million a year, they signed a 2. 6 billion tenyear deal recently, but compare that to the nba which also says they are suspending their season as well. They only had 12 games left but you would imagine they would have to at least play these games, since the nba has this monstrous 26 billion broadcast rights deal over the last ten years, signed in 2014, one of the most lucrative at the time. But theyre suspending their season for now and i would imagine that there are a lot of angered fans who obviously want to see a championship and playoff game being played as well. Also, just in the last few minutes, this is coming thick and fast, the museum of modern art, saying they are shutting their doors starting this friday. Well see when they reopen the doors. Of the hall of fame, rock and roll hall of fame suspended induction ceremony. Nhl will delay the start of 2020 season for 30 days. Spring training put off for now. St. Paddys day parade for 260 years. Going back before the American Revolution in 1762 but for this year, they say it is postponed, i cant imagine being on any other time besides march 17th or around that time. It is interesting that they canceled it this year even though there was a st. Paddys day parade during the spanish flu in 1918 which we know kills millions of people around the world. Getting back to canceled events, sporting events impact a lot of, millions of fans around the world, we her the President Trump about the nba some cities may be bigger than others with more empty a reasons has. Take a listen. States are smaller form of government. They can control individual arenas and individual things better. It is different for different areas. Some areas have no problem whatsoever in our country and others do. So were working with the governors of the various states. I think it is working very well. Susan President Trump talked about the upcoming jump Tokyo Olympics it, would be nice, fantastic buildings would be nice to have people in them. Right now that is called into question. That is up to the japanese government. David it is a lot more than just people having fun, not being able to go have fun, of all the vendors, hundreds of thousands, maybe even millions when you combine all of these leagues and how many people depend on revenue from this, not directly, not directly associated with either nhl or mlp but it affect as lot of people. Even the people on st. Paddys day, number of vendors depend on specific days to bring two or three weeks worth revenue. Susan st. Paddys day, those jobs are not coming back. Deutsche bank says 1. 15 million jobs at risk in the coronavirus because here in the u. S. We talk about rebounds demands. People expect a vshaped recovery when comes to the economy. Were looking at steep downturn exhibited by stock market decline. In the third or Fourth Quarter we expect a big rebound with pentup demand. People finally going out after we get the coronavirus under control. David susan, let me bring it back to where it all began which is china. What do you feel with your understanding of china, your experience there, about their conviction they have it licked at this point at least for this phase . Are we to believe the chinese when, when of course they have a communist country. It is easier for them to shut the whole country down. Susan they control social media. In this era of social media hard to hide. Could have done that in 1989 with Tiananmen Square and 2003 with sars. This day and age with social media that affects a lot of sentiment. Theyre very vocal with unhappiness of the handling of the coronavirus when it started. People knew it was out there. They were not happy of the delay of the government coming in, making this public. I would tend to actually believe the cases are going down, because if they werent i would hear a lot more about that on social media, across a lot of blogs people can access and read. I believe those cases are dwindling. David that should give us great hope. As dr. Fauci said, i believe it was yesterday, looks like things will get worse before they get better here. Susan yeah. David the fact having dealt with it, a country far bigger than ours like china you can get through it to see the light at the end of the tunnel. Susan if they can turn a corner we can too. David absolutely. The market was down 7 . We had been getting close to a 10 loss earlier in the day, which would have made the loss greater than the 1987 loss we lost over 20 in one day. We came back from that very quickly. By the way, i will be back at 5 00 p. M. With bulls bears. You dont want to miss that. We look forward to seeing you there. We look forward to seeing Charles Payne to guide you through the next hour. Hi, charles. Charles good afternoon, everyone, im Charles Payne and this is making money. Breaking now, the dow plunge continues with the market firmly in bearer to. We saw lows of the sessions after monster moves from the new york fed but the selling since picked up again. Wall street wanted more details and bailouts from stimulus from President Trump last night. Traders were unhappy with the ecb, they decided not to cut rates instead to deploy different tools. Now the house unveiling a multibilliondollar package knowing it is filled with programs and spending the white house does not support. Where does washington go from here as the virus makes its