Measures fail to emerge. On the monetary side, the bank of england, becomes the latest to cut rates treasury yields hovering around 80 basis points. Full Team Coverage of todays market plunge. Mike san tolly is with us and meg on the latest on the coronavirus. But well begin with breaking news out of washington major Bank Executives meet with the president today. Well get to wolf at the white house. Reporter the president and the Vice President and the treasury secretary currently hosting in the white house behind me the leaders of the major Financial Institutions of this country in attendance we have the leaders of jpmorgan, bank of america, citigroup, goldman sachs, wells fargo, black stone making it the type of gathering we havent seen since the peak of the financial crisis. Theyre all inside, as we speak. What will be on the agenda well, two main things. Number one, liquidity and the functioning of markets number two, lending to businesses that are most affected by the coronavirus.
Commercial free dan nathan tim seymour and. And the head of rbc capital markets. Let us recap how this incredible day played out the dow just had the biggest point drop in history. Falling 1190 points. A 4. 4 drop. The dow index has now lost 3,200 points in week alone its now down nearly 10 this year the s p meantime falling 4. 4 as well handing in the worst day since august of 2011 and this is the fastest correction, a 10 drop from highs in the entire history of the stock market lets focused on big names you know controlling the market, fangs tumbling as well and took the market with them you had apple down 6. 5 . Google 5. 5 and microsoft a 7 drop wow. As stocks sold off buyers they flooded into bonds the 10year yield at one point trading at 109. 24 ended at 1. 26. The lowest at any time in American History for the ten years. Bond traders expect a rate cut on march 18th. But there is chatter possibility of intrameeting cut between now and then all told, the fear on the street is very
A most of the schools. After more than 3 years of deadlock and numerous rejections the u. K. Parliament finally backs Prime Minister Boris Johnsons breaks it withdrawal agreement. Hello there youre watching r. T. International im Rosana Lockwood thank you for joining us. Now swiss and Dutch Construction company all seize has suspended work on the north stream to pipeline thats in response to a defense bill signed by u. S. President on the next imposes sanctions on russias gas Pipeline Projects u. S. Senator ted cruz who also the provision warned of consequences for failing to heed washington. You free choice stop now and leave the pipeline unfinished the express intention of the sanctions legislation which we offered or make a full should tell. To rush to complete the pipeline and reese putting your company out of the business forever for the next decade your company and personnel will be entirely barred from the United States any transactions will be blocked all property will be froze
Pot belly cfo why the klain lost 6 today we will get to it all let us begin with the Federal Reserve as expected no change in rates in the time meeting of both the year and final meeting of the decade. Come on. Thats all in the past, guy what should we expect in the future the new year, a rate cut, a rate hike, Steve Liesman was there. Asking questions at the press conference and he joins us now with more good evening, steve. Sully, thanks the Federal Reserve ended a momentous year for Monetary Policy by lawmakering what it indicated was a new regime where policy is likely to remain on hold for what could be at least several months the move to neutral follows three successive rate cuts beginning in august and reversal of plans to hike earlier this year now the policy statement the fed called the current stance of policy appropriate feds overnight lending rate standing at a range of 1. 5 to is 1. 75 . Jerome powell saying that could be the case for a while to come. We believe that the c
With Law Enforcement without any accused of Sexual Offences condition and without any more delay. The number of people being sectioned by police in england and wales increases by a fifth in two years. Regardless of who is the biggest band in the world is, you have to realise that youre going to be polishing ed sheerans boots. Good morning. Welcome to bbc newsroom live. Labour will unveil its general election manifesto as the party sets out its plan for government. Jeremy corbyn says the programme represents the most radical and ambitious plan to transform the country in decades. Its expected to include proposals for a windfall tax on oil companies. Labour says it wants to shift the uk towards a low carbon, Green Economy. They say theyll set up a new green transformation fund, worth 250 billion pounds, to be paid for through borrowing, creating hundreds of thousands of green apprenticeships. Housing is another core issue in the manifesto the party says it will expand social and affordab