Tepper and Stanley Druckenmiller both say stocks are overvalued u. S. china tensions flaring again as the fbi warns that chinese hackers are targeting covid19 research firms. We have a big lineup of guests today to help break down this selloff including bill mill miller, david harrah, david ruinstein and Liz Ann Saunders from Charles Schwab. Down 550 points, down 620 moments ago. Weve got full Team Coverage of todays market downturn. Scott wapner, mike santoli, and Steve Liesman with us. That bearish call from apple when asked about Hedge Fund Manager Stanley Druckenmillers assessment that the risk reward in the market is, quote, maybe as bad as ive seen it in my career, heres what he said. Its definitely as of yesterday, now the market is down from yesterday, i would say that, you know, 99 was more overvalued than 2000 but, yeah, i would say its one of the most overvalued markets, maybe second most overvalued i seechb the market is pretty full but theres a lot of liquidity there. Its
Rise. Without continued vigilance, well again create the conditions that led to us being the worst affected country. How many deaths and how much suffering are you willing to accept to get back to some form of normality. Economic adviser larry kudlow. And Liz Ann Sonders and Neel Kashkari. Top pharmaceutical executives will join us on the latest search on covid vaccines and treatments and all of the weeks politics with Chris Christie and rahm emanuel on our powerhouse round table. Announcer from abc news, its this week. Here now, chief anchor George Stephanopoulos. Good morning and welcome to ek that set somef e worst records ever for the rnin 20. 5 million americans lost their jobs in april, tentimes the record set in 1945 when the country demobilized from world war ii. The Unemployment Rate jumped to 14. 7 . Just three months ago, unemployment was at a record low of 3. 5 . And as stunning as those numbers are, they dont capture the depth of the damage, adding workers looking for full
Out with a pessimisticout with k on demand. Romaine what kind of economic drag that would have and the factories in the market, we are seeing a little bit of that priced into the market today, although we did see and we should point out some optimism and tech names, primarily secondtier tech names in the videogames space as well as telehealth companies. With us is Liz Ann Sonders of charles schwab. Lets talk about this earnings season. I guess depending on your perspective, you will either be the biggest thing in the world or biggest nonevent in the world. Im wondering, once we get this data from the companies, we start to get guidance and hear from ceos, what do you think we will be able to glean from this commentary and from these numbers about the future . I think the actual reports for q1 are somewhat of a nonevent given to out of the three months were pretty decent. Ae problem is given that large percentage of companies, certainly a record percentage have simply withdrawn guidance
Banks and Energy Companies leading. The tenure u. S. Yield back up to 50 basis points. It was below that all morning. Nymex crude down about 20 . As you know, saudi and russia in a bit of a war here. 33. 22 is the price. The dollar and Oil Currencies are mostly trading with big ranges right now. Lets get to our second board to see more action. You could look anywhere today and see a lot of action. Highyield, that Circuit Breaker was triggered as well. We are down about 5 right now. Dollaryen at 1. 0240. All of thelooking at markets throughout the next hour. Guy the best way of doing that is to take a look at the gmm, the function on your bloomberg which will give you an idea of what is happening around the world. The brazilian markets halted, limit down. The ftse is off by 7. 25 . The dax down by 7. 1 . The s p now down by 5. 88 . The russian ruble, oil prices the center of this story, down by nearly 9 . Brazilian real off by nearly 3 . The euro catching a bid. The dollar on offer agai
On tonights pbs newshour. P major funding for the newshour has been provided by cruise lines, travth American Experience the Maritime Heritage and culture of the maine coast and new england islands. Our fleet of small cruise ships plore american landscape seaside villages, and historic harbors, where you can experience local customs and cuisine. American cruise lines. Proud sponsor of pbs newshour. Carnegie rporation of new rk. Supporting innovations in education, democratic engagement, and the advancement of International Peace and security. At carnegie. Org. And with the ongopport of these institutions and individuals. Ongopport this program was made possible by the corporation car public broing. And by contributions to your pbs station from viewers like you. Thank you. It has been a day like few others in modern morn life, freeft coast to the west, the Stock Exchange and house of worship. For stocks it was the worst day of trading since t 1987 crash. As fears of the pandemic spread,