States and cities banning large gatherings, more schools closing with millions of students sent home around the world. Other changes, the nba has suspended its season after a player tested positive for the virus. March madness set to play out in empty arenas. And movie legend tom hanks and his wife test positive in australia. And that all happened overnight. Thats how quickly this is changing. Our teams are covering this all around the world. Lets begin at the white house with john harwood. John, it is notable and this is not criticism, or a partisan statement that the white house, the president had to correct multiple things that he said in his address to the nation last night, leaving many people very confused this morning. Very confused. And what happened last night was the white house aides persuaded the president he needed to do something dramatic to signal to the American People who see all these events cascading around them that he was taking it seriously. He went on National Television from the oval office. He tried to underscore the gravity of the situation with a dramatic move on banning travel to europe. Then dhs, the department of Homeland Security issued guidance after the speech indicating that it wasnt such a complete ban, just like the earlier restrictions on travel to china, exempts u. S. Citizens and immediate family members, legal permanent residents that sort of thing, he also bungled the discussion of what it meant for trade. He said the prohibitions apply to all trade and cargo. Later he clarified that cargo is exempted. Thats something that contributed to the angst among business. An dow futures have not been calmed by this. Were seeing markets being poised to go down again today. The president is going to be meeting with the Prime Minister of ireland, also exempted from the ban just like britain is, and so this is going to be another challenging day for the president as we have seen that business is not calmed and the American People are seeing events outracing what the white house is trying to do. Thank you. Were going to see the impact today and well see what happens when markets open in a few minutes. For the latest on how this is unfolding at airports, to nick valencia, he joins us at one of the worlds busiest airports in atlanta. Reporter this caught the travel industry off guard. They werent the only ones blind sided. Here the mood is mixed reaction among the passengers. At 5 30 is when we showed up, very busy, very active, things have slowed down since. As i mentioned, that mixed reaction, some passengers taking this more seriously than others. We have seen some going so far as to wear scarves around their heads. Heres why, they dont know exactly who theyre traveling next to in some cases. Just in to cnn, something similar like that happened last night, where a passenger reportedly according to the palm beach fire and rescue traveled from jfk airport in new york, making their way to West Palm Beach and upon landing notified the airline they tested positive for coronavirus. Thats all we know at this time. Jetblue, the flight, the airline did issue a statement saying, quote, meimmediately commenced cleaning of the gate area and surrounding gates and check in counters, kiosks, elevators, restrooms and other areas that passengers went through. Here in atlanta were not seeing that happen just yet. But one thing is clear after last nights announcement, poppy, and jim, life has changed for all of us. Goodness. Notifying when they land at the end of the flight. Did they find out in the middle of the flight, by email . Reporter well, thats what we dont know. We dont know if they perhaps were given their diagnosis upon landing. You cant rule out that perhaps this person, you know, how long they knew that they had this. We just dont know. Thats not clear. All we know at this time, they set it upon landing. Richard quest is at london, heathrow airport, more on the reaction from europe and im curious how this travel announcement, travel ban by the president is playing out there. Reporter i flew over last night from new york, we were just boarding the plane when the announcement came. There was a lot of confusion over who it applied to. And that confusion is followed today across airports across europe. The main level of confusion, who is covered by this travel ban. It is now clear from the administration that it doesnt apply to u. S. Citizens and green card holders. But that was small comfort and is small comfort today. People are trying to get out of europe before the ban takes effect. And always aware, of course that it could be made more strict. As for european leaders, they say theyre very disappointed, and they disagree. Theyre especially annoyed at the way they werent consulted, had no notification, no idea this was coming, it was dropped on them last night from a great height. As for the uk, well, the reality is flying from europe to the United States is going to get much harder if for no other reason the more airlines will stop flying because there will be fewer passengers. Absolutely. Richard, thank you. Were glad you got there for that reporting. We appreciate it. Lets talk more about sports. The nba overnight suspending its entire season and andy scholes joins us with more. Reporter this is such a wild scene, as all this unfolded last night. When the nba ends up resuming the season, we just really have no idea. The thunder and jazz were on the court, about to start play when they all found out that a jazz player had tested positive for coronavirus. According to espn, that player is allstar center rudy gobert. We reached out to his representatives, the jazz and the nba, none which of confirmed the report. But the news prompted officials to announce that that game was postponed. A little later the nba announcing that the rest of the season was going to be suspended following last nights games. The marvs owner mark cubans reaction, this was it after he found out during his teams game that the rest of the season was going to be suspended and cuban saying, after the mavs played the nuggets, the whole thing was unreal. This is something out of a movie. And you just dont expect it to happen in real life. But thats the randomness of the world we live in and so it is stunning. But we are where we are. And we have to be smart in how we respond. Reporter the jazz played the raptors on monday. Before that, they were on a fourgame road trip playing against the pistons, celtics, knicks and cavs. According to espn, all the teams being asked to selfquarantine and since playing the jazz, those teams have gone on to play other teams, so the majority of the nba has come into contact with someone who had direct contact with rudy gobert. From now, the ncaa tournament will go on, but no fans are going to be allowed in the arenas or stadiums, only Team Personnel and a select number of family members are going to be able to be at those games. Mark emert saying in a statement, while i understand how disappointing this is for all the fans of our sports, my decision is based on the current understanding of how covid19 is progressing in the United States. He added that they will continue to monitor and make adjustments as needed. Now, all the major conference basketball tournaments are going on right now, they are now also restricting fans from their games, starting today. Guys, the nhl says theyre also monitoring the situation and they have a further update on their league later this afternoon. Baseball season starting in a couple of weeks, dozens of games a day, they have a decision to make soon. Thank you very much. On the phone with us, nba hall of Famer Charles barkley, also an analyst for tnts inside the nba. Thank you for being with us. I appreciate it. Thank you for having me. I wish under better circumstances. Of course, we always do. Can you help walk us through what you know about commissioner adam silvers thinking in making this decision overnight . A lot of players are tweeting they respect the call. Do you know what went into this and how he made the final decision . Well, i think he just did it in the best interest of the game. You guys just showed rudy gobert, what hes been, who he played against the last two weeks. Hes been in several states, he played the Toronto Raptors and they could have taken that virus back to canada. I mean, thank goodness he was going to play in the game last night. I dont know how long he had this thing, but they have could have care trried it back to tor and he played in five different states in the last week. This is a really skacary thing d nobody knows. I commend the commissioner for suspending the season. The first thing we should do, even with march madness, i love working for turner and cbs, we have to take a step and look at march madness. Even though they wont have fans in the stands, i dont want players breathing on each other for next month. I think the ncaa and the nba should take a step back, lets get all these players tested, these guys have been with their families for the last two weeks. So nobody knows, but all the nba should be suspended. I think march madness should be suspended. Lets got the players tested. It is going to get worse before it gets better. Yeah, i dont have to tell you given all the years you played, charles, how close you get on the court, of course, an easy way to transmit this. You believe players should be tested, nba at the college level. Has there been any discussion of that . Are you hearing from nba executives or the players making that request to nba executives to get tested . I think the nba is making that mandatory all these players get tested. You got to think about this, these guys are you got on the other team, youre running up and down the court, breathing on each other for two hours, you got youre sitting on the bench, orr sityoure sitting on bench talking to your teammates closer than you and poppy are now and sweating. It is so many chances to get infected, you are on the plane together. Youre on the buses together. I mean, this is really, really scary. And we need to we need to quit thinking about the financial interest, because, listen, i know there is a lot of money at stake. We pay in our like i say, i work for you guys, we pay a billion dollars for march madness, i know thats a lot of money, and i think we should honor our contract because we pay a lot of that money goes to the other sports, other than basketball and football, and supports all the other sports at these colleges. So we should honor our commitment, but we need to take a step back and say should we cancel march madness. My opinion is yes. Even though there is no fans there, you got these big old players running up and down the court, theyre go to be at different cities every week, theyre going to come to atlanta every week, if they have the final four. This could get out of hand, if even one player on all of these teams have this virus, this thing could really get out of hand. Just one quick final clarification, you mentioned the jazz played in five cities. So you got the cavs, the knicks, the celtics, the pistons, the rapt raptors, many with families, is it your understanding theyre all selfquarantining, all those players for two weeks alone now . Well, i think i heard theyre all selfquarantined, a smart thing to do. Like i say, we need to make sure everybody who is coming in contact with rudy the last two weeks should get tested or selfquarantined because like i say, the Toronto Raptors, v knows, they play in canada. Can you imagine how that would be if he transmitted it to somebody in toronto and they took it all the way back to canada . Nobody knows what is going to happen next, but this is just a really scarry thing. Im glad the nba is shutting down. Great to have you on. Lets keep up the conversation. A lot of organizations and sports have Big Decisions to make going forward. We wish you the best of luck. Thanks, chuck. Coming up, were going to be answering all your questions with our doctors here. We know you have a lot of questions and were sticking to the experts. Wall street bracing for an ugly open. Markets open in 17 minutes. Christine romans standing by. What are we looking at . Another big down day. There is three up days in the past 15 here. Looks like the s p 500 will be officially in a correction mode. Thats the fastest thats happened in a long, long time. 22 days to go from a record high to this low. Well watch very carefully. You have 5 losses here. You see 7 losses in the s p 500, they will halt trading to try to bring cooler heads here to prevail. But clearly that speech last night from the president did not assuage the fears on wall street. Confused. Christine, thank you. Well see you at the open. Well be right back. Get em while theyre hot. Applebees 25 cent boneless wings are back in your choice of three sauces. Dont forget you could just show her how you feel. Make the moment mean more. Jared. You will see at vgreat and look great. 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Man, you guys are adorable alright, lets go lose this soccer game, come on book with the hilton app. If you find a lower rate, we match it and give you 25 off that stay. Expect better. Expect hilton. Right now, so many questions. Lets bring in our experts, dr. Sanjay gupta, chief medical correspondent, dr. Colleen craft, thanks to both of you. Great to have you here this morning. Sanjay, i want to get to the numbers here. Vice president pence, who is leading this effort for the president , this morning, on fox news, he said the risk to americans of contracting the virus remains low, well have thousands of cases. It is our understanding that the doctor for congress briefed members yesterday, earlier this week and said 70 to 150 million americans will contract the virus. Angela merkel said two thirds of the german population should think to contract this. Thousands versus tens of millions. What is accurate . The Public Health officials have been saying, im not first person to say this, 40 to 60 of the population could be exposed to this virus. The u. S. Population. And frankly the only reason that it wouldnt be 1100 is we star to develop some immunity to this. There is some people who get prote protected. You do develop a little bit of immunit immunity. This is a highly contagious virus that is clearly spreading through the community. Thats a dramatic difference. Tens of millions of people versus thousands. Were at thousands now. Thats with very, very inadequate testing which everybody has talked about, but we dont have any eyes on this. It is very clear that we focus on washington state, we focus on new rochelle, focused on california, because we have been able to test there. There is similar clusters like that all over the country. As we talked about, since the start, thats alarming to people. The clusters reflect the fact. One thing i know Everyone Wants answers on, i even am confused about exactly what the right answer is, dr. Kemp excuse me, dr. Craft, youre advising Governor Kemp and the ncaa on what they should do, but is what is the key differentiating symptom from coronavirus to the flu . Is it the dry cough . You cant say travel now. You cant say going somewhere where this may have been before, because it is here. So what is the key difference . Well, were in the middle of a respiratory season and there is not a key difference between all the different viruses were exposed to and can contract. And so what were trying to do is rule out alternative diagnoses such as flu and other viruses, and when those are not present, well test people for covid19. So just to clarify, even the shortness of breath . Because that is something i havent experienced when i had a flu or a cold. Right. So i think, you know, were still figuring out this clinical syndrome. The main issue were always concerned about with novel viruss is how often and how likely they are to cause lower respiratory tract infection. And we think this one is more likely than previous common cold coronaviruses that have circulated in the United States to cause lower respiratory tract infections. So, yes, the shortness of breath could be an indicator, but in and of itself does not help you differentiate. The person is a blank slate when they come to you and you sort of sort through. So, sanjay, the president , the headline measure is a partial travel ban i suppose you can call it, it exempts the uk from europe, also exempts u. S. Citizens and permanent residents who travel back and forth. As a doctor, is this a helpful step at this time . Heres what i would say. When we did this for early on, when people were coming out of china very early on in the outbreak, there was evidence it works. There was 195 people as you remember, jim, who were at that air base quarantined. Big move. That hadnt happened in 50 years in this country. Now, at this point, with as Much Community spread as there likely is, even though we dont have adequate testing, there is significant Community Spread, you have a very hard time making the argument that it is still beneficial. There is debate on this in the Public Health community, there is two studies ive read i think are instructive here. One is that once you get beyond 1 of a community of a society infected which we may be at already at this point, there is not evidence that it really works and that many of these sort of mitigation strategies really work. It is out there. Just to be clear. 1 of the American Population today is 3. 3 Million People. Correct. I know. That is thats a thousand times more than the white house has discussed. I know. We dont we you have to look at other countries and see the numbers of cases out there and understand how Community Spread has been happening in those places. You heard what Angela Merkel said yesterday, 70 of germany, maybe 40 to 60 of people exposed to the virus in this country within a year. Go back and look at h1n1, 60 Million People were infected by the first year. Where . In the United States. That wasnt as concerning a virus in terms of lethality. This is a contagious virus. We have to operate under the assumptions. But going back to the point, though, greater than 1 , it does change the strategies that youre go to be using and second thing is when you have four separate introductions of the virus into a society, that also is the same thing, changes the strategies that youre going to use. So building on what you just said about even knowing and having enough tests to know 1 of the population in an area or a nationwide has it, we just got a read out from dr. Craft the house meeting, the briefing from health xhert experts to memberse house, they were told yes the number of tests would increase, but acknowledged the u. S. System is trying to catch up to other countries like south korea and they were told the u. S. Does not have a system in place to test like foreign countries. How can that be . This pandemic has been put in the last three, you know, assessments by the ic in terms of global threats. And yet we dont have enough tests in place. So i dont know how long we have to discuss this particular topic, but, you know it a lot about through put. Were building this car as were driving it. So were creating diagnostic testing as an outbreak is occurring. Were also asking the entities like cdc and our state Health Departments to test while theyre also doing all of the contact tracing. So i think that there is a system infrastructure issue were dealing with and not just that we dont have enough kits. And so were creating a brandnew diagnostic. We have to go back to Old School Methods to create these doctor ticks in the beginning. Eventually theyll be rapid, eventually theyll be available. But i think were really focusing on the wrong aspect of the diagnostic testing. We need to help get the through put better. It is in places that are also swamped doing other things. Okay. Well stay on top of it, dr. Sanjay gupta, thank you so much. Watch dr. Gupta joins Anderson Cooper for our Second Global town hall, coronavirus facts and fears. It airs 10 00 eastern only here on cnn. Well be right back. You should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Extra life. Extra power. 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Choose the app that fits your investing style. Look at those numbers, down 7 again. Stocks plummeting, this after the president announced a travel ban on most of europe. Christine romans, chief business correspondent, is here, allisison kosik at the exchange. The president wanted to calm the country and markets last night and that didnt happen. He did not calm the country. A couple of different reasons, the travel ban, a lot of economists this morning have been noting that the Great Depression started with a trade and travel ban. They dont like that idea. And they dont like the idea that the president said there would be a trade and cargo ban with europe before he walked that back. So the fact that there is the ban is the one thing. The fact that they didnt quite get it right, in the scripted speech, also added to the sense of is there leadership here on this. They wanted to hear more about testing and wanted to hear more about treatment and a path forward for actually treating people in the United States. They didnt hear that last night. There is also momentum here that is going on in this market. The backdrop as we have been saying is still the same. More cases, industry slowing down, people working from home, schools being closed, and until that story changed and you can see beyond that, the path of least resistance in markets is lower. Bear market, people heard the term before, a bear market is when your market drops 20 or more, a fifth. You lose 1 for every 5 you have invested. Compare this to 2008, how quickly we have gotten a bear mark net compared to this crisi 20 some days for a bear mash n market in 2020. One tenth of the time. Yeah. This has been quick, fierce, and fast, and ferocious. The selling has been. Thats what has caught everyone off guard, how quickly this is unraveled. Alison, the market is freaking out because youve cut a lot of money coming into the u. S. When you enact a ban like this. One of the numbers i saw this morning, 850,000 International Visitors came to the us us from pa from europe. Is the market reacting to that or is it bigger . Is it the uncertainty that the president displayed last night . It is interesting how you see the futures trade after the president gave his address on the coronavirus. Futures dropped more than 5 . So the futures trade actually dropped and there was some concern that when the market opened today, we could see that Circuit Breaker kick in again. That did not happen. What we saw futures fall that great amount last night because there is disappointment there werent concrete proposals included in what he was talking about. Meaning physical stimulus to try to cushion the blow of the Coronavirus Impact on the u. S. Economy. But the reaction youre seeing here today is two fold, it is also because of the travel restrictions because of what you said that just in march of 2019 alone last year, visitors from European Countries brought in 3. 4 billion, so a lot of the anxiety youre seeing here is really obviously about the impact on businesses, the impact on world economies, which, by the way, no one knows what kind of a hit businesses and world economies will take because of the coronavirus. The anxiety is also over consumer spending. The concern is that people are sitting in their homes, theyre not getting out there and spending money. And it is really been the consumer that has been driving this bull market for so long. Consumer spending makes up the lions share of the u. S. Economy. Okay. Alison, thank you very much. Concerned about real economic effects. Joining us on the phone, Mohamed El Irian, used to be the ceo of the pimco investment powerhouse. Youve been following the market for decades. The president spoke to the nation last night, speaking to investors, i imagine, as well and businesses to calm them. Your response to the changes, to the travel ban and also the clarity of his answers on things like whether it would affect cargo as well as people. So i worried and i tweeted that out. The only thing that markets would focus on is what the travel ban means for Economic Growth and more generally for peoples willingness to interact in the economy. We have two distinct dynamics in play, both of which not familiar to advanced economies. One is sudden stops, things stop, Airline Travel stops, and the other one is fear. Fear and the travel ban increased concern about both. Does is surprise me what the markets are doing that theyre doing. People are pricing in the global recession. Peter navarro emailed me last night about temporarily eliminating the payroll tax and said if enacted, the positive gdp growth impact of the payroll tax cut has the potential to completely offset negative growth effects of covid19. How do we know that . We have no idea, do we, what the lasting Economic Impact is going to be on growth in this country and around the world. First, he may be right over time, but it will do nothing in the shortterm. Look at your own behavior. If you get a tax relief, if the fed gives you a cheap loan, are you going to go on a cruise, are you going to travel . Were being told social distancing, isolation is the way to deal with the Health Threat i think the policy response right now has got to be on two things, one, protecting the most Vulnerable People in our population and economic segments and secondly ensuring that Financial Markets function, the other stuff will have an effect later on, but not now. The reason folks and you might be aware of this as well, the numbers have frozen on your screen, nothing wrong with the screen, trading has stopped on the market, for this number you look at the s p 500, broader index, means it dropped more than 7 . Alison kosik is on the Trading Floor at the new york stock exchange. This holds for 15 minutes unless it were to drop again 13 and then another 15 minute trading halt. What is the reaction on the floor . Unfortunately this is becoming normal because this is exactly what happened on monday as well. Trading stopped for 15 . The idea with halting trading is it is to reduce panic and ensure orderly markets are functioning. We are seeing the dow as you said enter a bear market, the s p 500 now in a bear market, so we can say now that the stop market has entered bear market territory and the historic 11year bull run has ended. So now we have traders all over the new york stock exchange, wait this 15 minutes out to resume trading. Because the Circuit Breaker has been kicked. Christine romans, tell everyone at home that this means for them. The end of last year, we had record high balances in our 401ks. You have more than a year and a half of those gains wiped away. Youre going back to 2018 levels. Well over half of the gains during the Trump Administration and the stop market are gone. If youre close to retirement and had everything in the stock market you shouldnt have, im sorry to say, but you have really suffered some risk here, some more than 23 now in your stock market. But your 401 k is probably not just full of stocks. As you get close to retirement, lukely youve been pulling back on risk and thats what youre supposed to do. It hurts in the meantime. It hurts because it happens so quickly. 20 declines in 20 some days is really, really unusual. This has been a sharp decline from record highs into bear market territory. You said it took 267 days to get into bear market territory in 2008 during the financial crisis, it has taken now todays drop just 22 days, less than a tenth of that. Do we still have mohamed on the phone. The question is, the president was unable to assuage the markets, okay. The feds ability to do so is limited given how much they have cut when the economy was very strong. And the market was doing well. You wrote a whole book about this. And the importance of Central Banks in a moment like this. What now, can and should Central Banks around the world and the u. S. Fed do . They should be laser focused on the functioning of markets. They have to make sure that finance doesnt contaminate the economy. This is not about the banking system, i want to stress. This is not 2008. It is about credit becoming less available, it is about the disrupted market. Poppy, have a simple image in your head, a beach ball we have submerged for a very long time, deeper and deeper into the ocean, and suddenly we let go of it, it doesnt stop at the surface, it is going to pop right up and thats whats going to happen to markets. They were art officiificially sd for too long by banks. Things will come back. It is important to stress. Strong Balance Sheet companies survive this. So glad youre here with us. Quick question, outside of the fed, what other stimulus is appropriate here . We see the democrats have a package theyre trying advance, there is some concerns though about what would work and what could get through congress. Should there be a fiscal approach here that is more aggressive than what we have seen . Yes, you shouldnt turn a shortterm problem into a longterm problem. You shouldnt turn a liquidity problem to a solvency problem. So people who are forced to stay home, because they cant get to work for health reasons, who should try and support them. The uninsured should get access to free testing, free treatment. Youve got to protect people who otherwise, their own behavior would make things worse. Remember, what makes sense when individual person in this environment doesnt make sense for society. You as an individual investor, you disengage, you stop spending. But for society as a whole, that is a problem. We have to limit shortterm problem becoming longer term ones and we have got to make sure the most vulnerable are protected. We have the tools. Just a matter of getting them implemented. Mohamed, stay there, hold that thought. Christine romans, alison kosik, a brief break. Well be right back. Is that net carbs or total . Eh, not enough fiber chocolate would be good snacking should be sweet and simple. 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Com from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. Which most pills dont. During an emergency, a Network Becomes a critical line of communication, connecting First Responders to technology, and to each other. Firstnet is the only officially authorized Wireless Network built with and for First Responders. Its highly secure, eliminates throttling and cuts through the clutter of commercial traffic. Its the help you need to help the people who need you. Here hold this. Follow that spud. [ tires screech ] the big idaho potato truck is touring america telling folks about idaho potatoes. And i want it back. What is it with you and that truck . Welcome back. Your screen is not frozen. The market is still frozen for 15 minutes because it dropped 7 at the open here this morning once again. Back with Mohamed El Irian and Christine Romans and alison kosik. There say lot of discussion of fiscal stimulus, the Government Spending money to help dull the blow of all this. You heard about a payroll tax holiday, discussion, bailouts for the airlines, theyre in serious trouble. What would make the biggest difference for folks at home who are watching this, not spending the same kind of money they did, worried about their jobs, et cetera. Which packs the most punch . I dont think it is a matter of one thing. Frankly what i wanted to see last night and perhaps markets did is that there is going to be cooperation between congress, the president , maybe the president gives congress the democrats their good ideas, they have a lot of them. Democrats can see some of his and they move forward. I think we have to look forward not just to trying to get through the immediate patch, but not to hurt the healthy parts of the economy. We need a massive stimulus. This isnt this is clear this problem, even if it was just a global part of the recession coming from china we would be in trouble. Except when you look at massive stimulus, Christine Romans, you made this point in the break, when there was t. A. R. P. , during the 2008 financial crisis, they got their act together, they passed something, there was a stimulus plan. This is very segmented. What is the plan . There is no t. A. R. P. For a better word, it is a terrible acronym, but there is a bunch of different ideas but there isnt one and i think that ken is right, i think investors wanted to hear last night the president go out and say heres what were going to do, were going to work with congress, were going to work with the european allies, were going to work with other were going to coordinate around the world to do x, y and z. We did not hear that. Markets fell out. Mohamed, a lot of talk about how there is not a lot of room to cut Interest Rates because the fed has been cutting Interest Rates through the room here. Close to 1 . Congress has been spending money through the boom, including enormous tax cut, which inflated the deficit. Is there fiscal room now for the kind of massive stimulus you hear being talked about to make a difference . I think we have no choice but we have to be smart about it. We have no choice because we dont want to sacrifice Growth Potential as well as actual growth. We could devastate the economy for years if were not careful. I want to stress the how is as important as the what. You already heard from christine and ken, to elements of the how. It has to come across as a whole of government approach. There is a conductor, everybody in the orchestra knows what theyre doing and theyre coordinated. Second, a national lament. Third, it what are you going to do on day one, what are you going to do on day two . Day one is about stress, things like free testing, covering uninsured, paid emergency leave, paid medical leave, strengthening unemployment insurance, that sort of stuff. Phase 2 is about following that up. Once youve built the bridge, the immediate bridge, with wellfocused stimulus and Infrastructure Spending that promotes longterm growth. You need a map as well. You need a very clear plan. If you have these three things in place, you start putting the bridge, if you like, to a destination thats not as bad as it looks right now. Mohammad, markets are forward looking. They predict how companies are going to do. Companies like princess cruise just halted total operations for 60 days. We know the impact on the travel industry, hospitality, it is brutal. The impact on jobs, et cetera. Is there a way to avoid a recession, in your mind . First, i think a global recession is unfortunately very, very likely. And the sadness, the traj he es sorry to interrupt, so viewers know, the market reopened, as youre aware of, and as it opened there, its falling again. My apologies. Please continue. If youre a company right now, heres what youre looking at. Your revenue is collapsing, and collapsing beyond anything planned. You cant secure your supply lines, you dont know where your employees are going to go and youre not moving your inventory. Your cash is being drained, and good forbid, youre in debt, u that impact. If most of them are doing well, theyll find themselves being hit on every side. Ken goss, if youre still there, were 8 down. So the freeze didnt stop the free fall. Ken rogoff, terrorists have been a big part of the president s trading with china. That means heavy costs between businesses and consumers. There it is, 2,000 points down. This is a step that should have been taken a month ago, two months ago, to call off the tariffs. We dont need a lot of things to block global trade right now. Were in a crisis, and thats the most counterproductive thing weve done to the economy. Its also an important gesture towards the world, as mohammad olearian was saying. You want to show a modest approach, not that you want to isolate yourself around the United States. That is not going to work. Thank you, ken, mohammad, alison at the exchange. We couldnt do this without you guys. Thanks to everyone. We have a lot more breaking news. New details from lawmakers on the hill, what they were just briefed on. Ill have all of that for you, ahead. Because he took delsym 12hour. And this is charlie still not coughing while trying his hardest not to wake zeus. Delsym 12hour. Nothing lasts longer for powerful cough relief. A new kind of investor with an app thats changing the way we do money. Download robinhood now. Danafarber Cancer Institute discovered the pdl1 pathway. Pdl1. They changed how the world fights cancer. 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Everywhere. Everywhere. Everywhere. Top of the hour. Good morning, everyone. Im poppy harlow. Im jim sciutto. Its a tough day, an unsettling day. Well bring you all the information as we have it. This is the latest. We have confirmation this morning how far behind the United States is on coronavirus testing. The house was told that they were struggling to catch up with other countries. 1,100 tests completed so far far across the country. South korea tests 10,000 people per day. The dow down 21,000 points, the s p down 1700 points. The president announced travel bans around europe and excluded the u. K. , then had to explain what the travel ban meant. The nba wizards are telling their team to quarantine two weeks after playing the jazz. A player on the utah jazz tested positive for the virus. The nba basketball tournament will play out to empty arena. Princess cruise line say they are halting all operations around the world for 60 days. More schools around the country are closing. And listen to this, movie legend tom hanks and his wife tested positive for the disease. They got that test because they happened to be traveling in australia at the time. Lets begin with Christine Romans here in new york on the markets. The markets were not calmed at all, christine, from the president. They wanted to see a plan. They wanted to know that the United States had this under control and what was the plan for combatting this, what was the testing, what is the Public Health. For example, hospital surge capacity. What weve got is a travel ban that then had to sort of be walked back a little bit, because then the president said he would ban cargo and trade. That really concerned markets. You saw markets last night, as the president was speaking, tumbling around the world. When the white house corrected that and said, its not for american citizens, its only for citizens of these countries in europe coming to the u. S. , markets werent calmed by that because of the kind of clumsiness of the message. You already had markets that were down considerably, already moving into bear market territory, and this morning its even worse. Christine romans, thank you very, very much. I think were going to go to washington now. This is just in to cnn, were getting news of the Coronavirus Briefing happening right now in capitol hill. Lauren fox has been speaking to laumpwmakers as they come ou. Laur lauren, what are you hearing . 11,000 tests conducted around the country so far. South korea is doing 10,000 per day. There is frustration on b