That. Continues to spread worldwide as president just moments ago the cleric a National Emergency for the United States to unleash the full power of the federal government for today i am officially declaring a National Emergency. 2 very big words. The action i am take in will open up access to up to 50000000000. 00 of. Very importantly for important a large amount of money for states and localities in our shared fight against this disease in furtherance of the order emerging every state to set up Emergency Operation centers effective immediately. A National Emergency 2 words indeed now meanwhile the World Health Organization thank all Health Workers around the world and announced europe is now at the epicenter of the coven 1000 pandemic. More than 132000 cases of corbett 19 have no been reported to deadly youre from 123 countries and territories 5000 people have lost their lives a tragic milestone europe has now become the epicenter of the pundit make wheeze more reported cases and is done the rest of the world combined apart from china more cases of now being reported every day than were reported in china the highest of its appeal to me. This comes as Top Health Official for the combine ministration Dr Anthony Fauci said that this ructions from the corona virus could be prolonged and last up to 8 weeks adding its going to get worse before it gets better the death toll in europe continues to rise as spain declares a National Emergency and more countries are joining in shutting down schools there implementing travel restrictions and taking other emergency measures and hopes to avoid becoming the next italy france is also taking some action french president manual mccrone took to twitter and announced President Trump and 7 other World Leaders are planning a Virtual Conference next week to discuss the coven 1000. 00 response nepals government announced its shutting down mt everest and its canceling all climbing permits through april 30th china had already canceled expeditions on the tibet side of that mountain meanwhile in greece the olympic torch always late in the limpia took place on thursday but the torch relay is temporarily suspended due to a large crowd that showed up but will still be delivered to tokyo organizers on the 19th of march president of the International Olympic committee thomas batch said athletes are still encouraged to continue preparations for the 2020 Tokyo Olympics while working with authorities to take the necessary measures to contain the coronavirus the reason many measures are being taken. So many governments and also richies around the world to contain the virus and no 19 there we are before the games and. Also making good use for these time over these 19 weeks so we are in sport we are fully committed heimer really encouraging the outs leads to go ahead with their preparations with their qualifications for. Food lose steam. Well only when it comes. To grades olympians. And in what has been a crazy week for markets worldwide there are now renewed calls for Central Banks to intervene and to restore market this after president term statements on the status of the federal response to the krona virus was not enough to prevent the worst day on wall street since the 987 crash and of course he spoke again on friday and markets and the dow specifically here in the u. S. Actually spiked up to 2000 points of an increase just on the day so it has been a crazy week and did at this point the investors worldwide are calling on governments to intervene and help stop or at least slow the market crashes so what can Central Banks do to call markets joining us now to discuss the boom bust cohost and of course crypto currency analyst ben swan ben thank you so much for joining us today and you know when we talk about federal Bank Response as well i mean the bank of canada just friday afternoon as well cut rates to point 75 percent so there varies a lot of action going on and its moving so so fast as this number one economic crisis if thats what you want to call it is going on as well as the pandemic of the crow virus so bent the fed announced trillions of dollars worth of new capital injections to calm Treasury Bill liquidity issues and boost Economic Activity amid coronavirus risks we know youre not a fan of Central Banks propping up markets kids being what we have seen over the last few days doesnt the fed have to do some more and what exactly are they doing right now to prop markets up yes so i dont think the fed is the answer certainly but you are correct that markets right now feel like they need to help in a lot of ways that what we saw on friday afternoon was very interesting you said here in the lead up up almost 2000 points for the dow d on friday d which is a huge job about 10 percent back up still know the racing you know all of the losses for the week but what is significant up. That were a couple of things the president came out and he said on top of trying to reassure the public that theyre working with google which thats a whole issue working with google to try to create a website where people can get on and monitor whats happening while working with leaders like the c. E. O. s of walmart and c. V. S. And walgreens and target to be able to establish places for people to go and be tested for drugs virus which has been a big issue he also talked about the Strategic Petroleum reserves and buying a large amount of oil now that indicates that oil prices will probably get some relief and that will be good for the oil market which has been really hurting he also talked about canceling interest on Student Loan Debt on all loans held by the federal government so itll be interesting to see how that affects markets as well but we did see kind of a big rally at the in the friday now coming back to the Federal Reserve next week were expecting to see the fed essentially take a look at whether or not theyre going to go ahead and drop Interest Rates to nearly 0 with appears thats whats going to happen that were looking at a b. P. About a 100. 00 b. P. Drop so about base point drop of oil of 100. 00 which would really take us down to 0 thats probably where were going to be thats what Goldman Sachs is saying and bank of america theyre both calling for both expecting thats a huge huge move right there by the feds if that and up happening but i do want to talk a little bit about the numbers like you said were seeing them skyrocket or at least double basically speech they went down toward the beginning then spiked about 2000 points toward the end of his speech hes still saying the market will be just fine at least as of yesterday when he spoke to reporters saying that were going to come out of this bigger and were still up ever sence from what when he started his as president ial after the elections now sure after he took office but i do want to ask you is the president just spinning and hoping that things work out fine or is this something thats actually going to happen. Well look i think the president 1st of all has to recognize that corona virus is not the cause of a lot of this there are supply concerns that we talk about on the show all the time there are issues with whats happening in terms of the market and liquidity and all that but the coronavirus is not causing markets to crash the over leveraging of markets the fact is the fed has been pumping up the markets for so long that is where you have this over leveraged bull market for 12 years that eventually it has to come to an end and so when the president says dont worry well be fine book number one were still up about 20 percent from where he took over but at the same time you have to recognize he cant go on indefinitely short term i think the president s in a good spot because i think ultimately hes right when you say things that wall street wants to hear when you say were working with the Business Community when you say that were going to start you know dropping Interest Rates even more and were going to start the governments going to start buying up in Certain Key Industries to help them out thats going to sin the numbers up no question about that but the long term problem remains which is that we have an over leverage market and we have a fed that in the next week within the next 7. 00 to 10. 00 days is going to pump you know trillions of dollars in the muck about 1. 00 trillion dollars being pumped in that our market right that is unsustainable exactly its unsustainable and bad i mean it just seems like when we talk about unsustainability of the market i mean you look at this week we have you know a 5 percent again a 10 percent decline a 5 percent to 7 percent gain of 15 percent decline and now today youre back up 12 percent i mean its just unsustainable completely is it not. Oh it isnt sustainable and what were seeing too of the fact that we have these highs and lows that are so dramatic and my suspicion is and i cant prove this but my suspicion is is that a lot of this is a game thats being played that that wall street is intentionally dropping these numbers because then they can force the feds to react they can force the fed itself to react as well as the feds to react and to give them what they want they want the row Interest Rates they was more liquidity they won government purchases of what theyre doing and so theyre actually i think that wall streets manipulating the market now and say hey were going to call your bluff if we drop by 10 percent youll bring us back up by 20 percent we can drop it lo ve could we buy it the next day and it just seems like like were living in upside down town right now with the way who that is being conducted it just seems completely nonsensical it doesnt seem to be based in reality at all boom bust cohost ben swan we could go on for ever talking about all of the things that are happening right i thank you so much for your time. Another turbulent week for the Global Markets as the coronavirus continues to spread the indices remain volatile and theyre all lower for the week many stocks even now in bear markets lets start in moscow where the mo extend for the week after a sharp decline on monday following the oil spat with saudi arabia this was over Oil Production cuts the ruble and russian stock fell following President Trump speech on one seen night when he issued the travel ban on europe the r. T. S. Index fell below the landmark 1000 point level for the 1st time in more than 2 years asian indices were all slammed friday following the u. S. Market plunge and much like wall street every major Financial Market in asia except for china is now firmly in bear market territory and shanghai composite is down for the week saw a sharp decline on friday alone it was able to pick up just a little bit not by much and ing on a 4 percent decrease than in hong kong where the hong sang reached a bear market it plunged as much as 7. 4 percent at one point on friday morning right before coming back up to a loss of 4 percent on the week but the blue chip benchmark fell 20 percent from the recent high mark last april making it a bear market now in japan the nikkei also in a bear market down for the week indices saw as much as 10 percent decline again on friday alone this was the largest intraday drop since april of 1990 when the market lost trillions by the end of that year and now over to the sensex in india where the stock index is down its all an extremely volatile volatile and on the week on friday when the nifty index was down 10 percent it prompted a 45 minute trading halt not only did we see that in the u. S. But also in india how did sharpest one day recovery though the sunset did go up by over 5000 points and now over to australia where the. Also reached a bear market with a 13 percent decrease on the week on thursday it lost about 130000000000. 00 with an 8 percent fall on its worst day since october of 2008 that was after the collapse of the u. S. Investment bank Lehman Brothers and finally the shares and africa you guessed it also down for the week now over to brat for europe and the americas they use so much there its more of the same as the w. H. O. Now says europe is the epicenter of the coronavirus after things have calmed down in china in france the cac is down roughly 15 percent on the week as the government is now taking further precautions to limit the spread of the virus or oil and gas Company Total essay took one of the biggest hits down 33 percent as oil had just a terrible week as sarah just mentioned now in germany the decks so a 14 percent decline when you remember earlier this week chancellor Angela Merkel she said that 70 to 80 percent of the countrys population could be affected by the virus stock plummeted more than 20 percent on the week as markets lead in london the footsie its also down on the week down 17 percent again the oil sector feeling the pain in the footsie was across the atlantic and go to the best in brazil now had a rough week as well down nearly 20 percent on thursday alone having the worst day since 1998 but friday was positive with gains exceeding 8 percent Oil Giant Petrobras it is generally struggling down more than 50 percent were to go north to mexico the 1st its down about 5 percent on the week so were going to move up to the u. S. Here where the 3 major indices including the New York Stock Exchange as well so thats for theyre all down and as sara was mentioning there we are in bear market territory the dow alone on thursday had its worst day since the crash of 1987 and the circuit. On the s. And p. Was triggered i believe 2 times 2 times this week so looking at big players in tech you have Google Facebook apple and microsoft all taking 15 percent declines on the week in banking j. P. Morgan bank of america and wells fargo all falling by more than 20 percent nothing really positive to report out of american markets at all this week lets move up to the great white north in toronto the ts sex is down roughly 14 percent on the week Energy Transport company and bridge is down more than 30 percent as markets real throughout the world canada is hoping for a better news next week as the bank of canada on friday made an emergency rate cut 2. 75 percent as the news of all of it will be interesting to see what can be done to push markets up in the coming weeks and weeks and that is your weekly Global Market walk. Time now for a quick break but hang here because when we return i think global virus pandemic slams market. And manufacturing are also taking a major hit going to analyze the disruption and auto manufacturing. Have an impact but a break here the number is a. Special times require special recording of course the report has been anticipating so much of whats going down around the world its not a big surprise for those of you whove been watching us for so many years. No not ones that. Dont want the definition. Taken you know equal sitting. Ducks. And then youre going to bring the only thing im. Not. Going to know what the. Saudis are. Just doing if one means a leftist that you know but not on this one tokyo found it. Didnt. Like. His look was because did it seem quite a cultural thing i did. You see every passage of the death of something all passages involves some kind of conflict between where one is trying to reconstitute the old way of doing things but it doesnt work as a service im often working with people and those in between so again i think the key is how do i find my path through all of this and where do i find minister in those moments we have to start beginning to trust what is coming from within. A bipartisan push for. Lawmakers are now urging the trumpet ministration to roll back at least some of the existing tariffs on china some of them actually remain after the phase one trade deal and it was signed back in december there are still 25 percent duties in place on some 370000000000. 00 worth of chinese goods imported annually florida representative Stephanie Murphy pitched the idea to u. S. Treasury secretary robert light hisor in a private meeting this week saying its something the administration has the ability to do and would have an immediate Economic Impact and help stave off a global recession shes urging the trumpeter ministration to consider removing all tariffs on both chinese and even european goods in an effort to provide some Economic Relief no light highs or who has a lot of the trade deal negotiations with china was not receptive to the idea but earlier this week the u. S. Already removed some tariffs on a few goods that are imported from china this includes latex gloves face mask sanitizing wipes and antimicrobial products that are used in medical exam rooms. And chinese automakers are asking for assistance as sales fell in the month of february by 79 percent due to the ongoing coronavirus pandemic now this marks the biggest ever monthly decline in auto sales in the Worlds Largest auto market the chinese or the China Association of automobile manufacturers says they would like to see cuts to the purchase tax on smaller vehicles measures to support sales in rural areas and easing on a Mission Requirements however a representative from the organization said they do not expect all measures to be taken into account now the c am saturday also expects sales will pick up in march as Officials Say the worst is over in the country but does not expect things to return to normal until the 3rd quarter of 2020 and for more on this and how the Auto Industry is fairing amid market turmoil due to the coronavirus we are joined by lauren fix the car coach lauren it is a pleasure to have you wish it was under better circumstances you know this 79 percent decline is massive and really sales in china had already fallen for 20 straight months do you really expect sales to pick up in the coming months as the world is still very concerned about this virus. Right well thank you brant and i think one of the biggest things is that people are back to work in china so theyre not on all shifts right now most are on one and 2 shifts the 3rd shift supposed to be coming on line hopefully next week that means people are starting to make money again and they have to make up for that loss why they were sitting at home whether they got paid or not because obviously that kind of gives you uncomfortable nest about spending money in your economy or ones who will start getting more open to spending money again i think the car sales will pick up a bit it is rock bottom worst weve ever had in china with only 310000. 00 vehicles sold in the month of february so once people start purchasing vehicles again i think the total for the year of 2020 going to be off by about a 1000000 which is pretty equivalent to what were going to see here in the u. S. Factories in the epicenter of the outbreak in china like you mentioned are just starting to reopen but obviously most are not operating at full capacity now manufacturers throughout the world rely on china for parts this has been mostly and in the recent decade how much has this situation affected the supply chain for other automakers. With syria right now it is a huge impact on all auto manufacturers whether its aftermarket parts and components so youre looking at a company like brembo who makes breaks for a lot of the vehicles that are out there if theyre missing the seal or a piston and they have the castings they still cant build these components so the impact is huge and you me not see it right away so youre seeing manufacturers shutting down production because they dont have parts but once they get up and started they still got to get those parts from the factory to the manufacturing facility that could be a 6. 00 to 8. 00 week leeway and with that gap of time thats where i think were going to see the impact of slow moving sales and its going to take a while for all these parts components to get back up to speed let me ask you this i know that a lot of closures are still around the area which is a Huge Industry where the Car Manufacturers are how how exactly to affected as well and is that going to further than delay these the delivery of these parts. Youre right it is going to further delay they call it the Rock Candy Mountain because literally they make every thing in the will hunt district and because of that fact if youre looking for an interface for your car as ive said in the past you cannot sell a vehicle thats only built with 99 percent of the parts so thats going to be a delay where theyve got production line stopped i know theyve already got lamborghini stop production i know that toyota is stopping production certain product lines i know other other companies are as well and theyre doing this because if you dont have all the parts of components youre going need another supplier and i think what its going to do is potentially cause other countries to be able to pick up some of those sales as a backup supplier so this doesnt ever happen again right now lauren i want to ask kind of a broad question because we talk about the decline in china and you said you know that 1000000 sales being down 1000000 sales is going to be right along with the rest of the world but how are sales doing throughout the rest the world as we deal with this pandemic well it depends on the country i mean obviously italy is shut down right now literally have closed every shop every store so nothings been produced so if youre building or lamborghini or ducati motorcycles which im building belong yeah nothings being sold and no ones got money because theyre all sitting at home going to work retail or you wait tables if you dont have any cash flow if you work at a place that you can work from home thats a different story so i think the impact on a global basis is going to be quite dramatic and were going to see that impact not just in automotive put in other categories such as tech as well because all of this again is connected i mean so many sectors are being affected like the tech world is another major one but i want to end on this a lot of cancellations on a lot of shows a lot of conferences around the world now the auto show in and geneva being canceled due to the coronavirus this week it was announced that the new York Auto Show would also then be postponed how important are these events for the industry. Oh its huge and actually its impacting me as well typically i met all the trade shows on a global basis we go out and we drive cars we talk to executives we get the opportunity of the 1st person in the vehicle so that we can report on it so that your station and other stations can get this information but if we dont have any of that and manufacturers are telling everyone to work from home it and this trade shows are shut down and they cleared our schedule theres not really going to be an impact so theres no information going out people are going to be buying cars lauren fix the car coach thank you for your expert analysis buy back really soon. Thank you. Then with the n. B. A. s decision to suspend the current basketball season after player tested positive for the coronavirus one team will play their season games in the Virtual World in a twitter post the phoenix suns announced they would continue to play their scheduled games in the n. B. A. 2 k video game and stream them live on video game streaming platform twitch t v now its unclear how the schedule game against the day it was mavericks will work will they play against ai controlled players will it be against the actual mavericks will they call in some pro n. B. A. 2 k League Players to join them at this time we just dont know but were looking forward to finding out next week now twitch is becoming a place to go amid the pandemic as more and more people are staying indoors in fact a professor at n. Y. U. Game center taught his class about twitch on twitch as students were allowed to go to class professor and developer robert yang took to the platform earlier this week and even had viewers who had nothing to do with the class as you can see in the video yang believes teaching on twitch is a terrible idea but when for it anyway now i find this fascinating because when you talk about n. B. A. Players you know all you have to do is get 5 of them behind the controller that could take care of the play as themselves and they could entertain people and were also good interaction with the players that we dont see in the very competitive nature of real world sport is that i think it would be so interesting i mean just to see how far weve come to be able to do things like this you know with Ai Technology not only that but even with online classes for professors to make it easier but at least they keep people entertained and thats kind of what were looking at at this point without for an absolute its a great opportunity i like that this professor i mean obviously teaches gaming and hes about twice but to do it on which t. V. At work that is very good well thats it for this time but you can catch the bus on demand on the brand new portable t. V. s available on smartphones do google play on the Apple App Store by searching portable t. V. Or stream us by your t. V. By downloading the portable t. V. Apps on apple t. V. And online that part of the t. V. And you can. Also find our provirus tracker on the portable t. V. App where you can get the latest news and information about the spread of the virus and as always check us out. Next time. In the United States president ial candidates debate the future of the u. S. And the world. Stacy herbut dig into the burning questions of this election cycle. Every week. Tax student debt trade was money universal basic. And more catch up with running this sunday exclusively on. Good food descriptions this owned up to tell using even for the owners so how to choose the pet Food Industry is telling us what to feed our pets is really more based on what they want to sell us than whats necessarily good for the pet turns out may not be as healthy as people believe and we have animals that have you know diabetes in our straightest they have auto immune disorders these cat allergies we are actually creating these problems its a huge epidemic of problems all of them i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets streets the larger corporations are not very interested in proving or disproving the value of their food because theyre already making it a 1000000000. 00 on it and theres no reason to do that research. So what weve got to do is identify the threats that we have its crazy confrontation let it be an arms race move his arms off and spearing Dramatic Development only personally im going to resist i dont see how that strategy will be successful very critical dharm time to sit down and talk. To our lawyers the full power of the federal government to the surfer today i am officially declaring a National Emergency. The u. S. Stepped up its response to thwart the support of the coronavirus following countries across europe and asia. For the Trump Administration also seeks to restrict medical imports from china which could cause prices in the u. S. 2 thirds. Of the u. S. Coalition base near bank that is reportedly struck full the 2nd time in a week out to pitot strikes cause innocent casualties the anger from iraq leaders