Judy all that and more on tonights pbs newr. Major funding has been provided by on unamerican cruise lines journey along the colombia and the and snake rivers, thee roraced by lewis and clark more than 200 years ago. American cruise lines fleet of paddle wheelers an modern verboats travels through american landscapes to historic landmarks where you can c experience loctoms and cuisine. American cruise lines proud sponsor of pbs newshour. Bnsf railw. Consumer cellular. Carnegie corporation of new york, supporting innovations in democratic engagement and the advancement of international carnegie. Org. And o with theoing support of these individuals and institutions this program was made possible by the corporation for public broadcasting, and b t contribution your pbs station from viewers like you. Thank you. Judy Coronavirus Infections have passed the halfmillion mark worldwide tonight, with d 23,0ths, and the United States now has more than 82,000 cases more than any other country incl
Zero, in an attempt to save the u. S. Economy from coronavirus fallout. But the markets are not impressed. Yields fall off a cliff and futures trade limit down. An historic slump in east asia. The Economic Impact of the virus is laid bare by the latest data from china. Retail sales, fixed investment, and industrial al output all plunge. And europe widens its lockdown. Cases across the continent surge as the government shuts down the borders in europe. One aviation consultant says the new no travel norm threatens to bankrupt most airlines by may. We are getting headlines out now from Fiat Chrysler, saying it is going to halt its facility, shut down factories in syria, italy, and poland. They said those factories will probably close this month. We already had headlines from ferrari saying they would shut down production. And maseratiysler, will suspend all production in europe. This is in response to the spread of the coronavirus. It is important to keep social distancing when you are wo
President trump has yet to detail any stimulus plans to stem a potential economic slowdown. Big tech names also feeling the pain. Uber and lyft plummeting amid concerns Everyone Wants to shelter in place. Lets get straight to Abigail Doolittle in new york. Give us the big picture on the pain. Abigail truly a brutal day for markets in the u. S. And frankly, around the world on these coronavirus fears, what the impact will be on the global economy, especially now it is being called a pandemic. Before we know the true scope in the u. S. , look at the decline for the major averages. Dow in a their market. S p 500 flirting with that territory. Investors want out of stocks. They get they cannot take the risk. Finished downy slightly at one point higher. That could do with the fact that they are offering around stimulus, something we are waiting for more details on later today. Lets go into the bloomberg terminal and look at what is happening right now for global growth. 4 e are the china dow
Driving the action first and foremost of course the heightened fear about the coronavirus. More countries go into lockdown as the steady spread of cases continues. The fed made a dramatic move cutting rates to zero and announcing new assets. And the economic slowdown with weak manufacturing data this morning from both china and the u. S. As we just said we are down about 9 on the dow. The low of the session was down 12 or 2,800 points. The dow is down about 31 from the recent market highs as we stand with just under we have every angled covered for you. Lets drill down on the selloff Mike Santelli at the market dashboard and lets begin with bob on the floor of the exchange. Trading halt this morning, 15 minutes right after the market opened our third trading halt in the last six sessions. Look at the s p 500. Our low is just a tad above 2,400. So well off of that number everybody down here waiting to see what if anything the president might have to say. Take a look at the dow movers, t
In europe, also watching what has been happening there, you will also see just like yesterday europe is down across the board. The biggest declines coming from france and london. The cac off 1. 6 among the big market themes, momentum stocks outperform, some momentum factor er, etf up on pace for the best ever launch since 2016 we are going to have a technical analysts on. I was distracted i asked the analyst whether it works like this with the outliar. They insist, no matter what, they did bounce off the level. The ones they mention. It hit exactly and bounced off it we have bleakly here lets say this, we manage 6 billion of assets. We want that to go up. It is risk management. We need p emto worry. We have a lot of them around today. Including me burgon county, the first presumptive case of coronavirus. Energy is in a bare market off from its high in april industrials also in correction territory. Gold on pace for its best performance. Looking at prices this morning, youll see they ar