Measures of the Federal Reserve is leading the way, after spending trillions buying Mortgage Backed securities, corn rat securities, Treasury Bonds all that sort of thing this is another arrow in its quiver that is not really been explored or to my ive been following these bites here, even explain what a main Street Lending facility will be, but the very talk of it did bring us off our lows. Again, just throwing that out there as one of the reasons why we dipped from down about 280 points to now down about 180 points. Lets get the read in the meantime about the worries for the Market Going Forward here, and that will be in another couple of hours or so, the president outlining his plans to respond to china, presumably on this crackdown going on in hong kong and throwing in their concerns the president has about how the chinese handled the coronavirus, something is up which has a lot of stocks that depend on trade with china down. Blake burman with the latest. Hey, blake. Reporter hi th
[inaudible conversations] the hearing will come to order. Today we will receive testimony from david marcus head of libra at facebook. On may 9 senator brown and i sent a letter shortly after it was reported that company was recruiting Financial Institutions and online merchants to launch a cryptocurrency based Payment System using a social network. We asked space bar for more information how the system would work, access and use of Consumer Financial information and facebooks access to use of information on individuals or group of individuals for credit or insurance or housing i appreciate facebooks response last week. Shortly after the letter was sent facebook formally announced its intention to launch the Payment System libra and issued a white paper providing information on the project. Since then us and Global Regulators have taken notice including the Federal Reserve, reserve, Uk Financial Conduct Authority and a stability board, g7 and others for the last week during the Federal
Facebook said to offer hundreds of millions of dollars to allow users to pay for play. Betty welcome to daybreak asia , i am betty liu at bloombergs Global Headquarters in new york. Yvonne i am yvonne man out of seoul this wednesday morning. Appear in south korea, we are watching what is happening about 30 something miles away from seoul. Our neighbors to the north, so to speak. For the markets, it has been a perfect storm. For not only what is happening in pyongyang, but the hurricane heading to the u. S. Amid debt concerns. Betty we are putting out fires left and right. That was reflected in the markets today. Lets pull up the board. We opened up after the long Labor Day Weekend and went straight down. You can see the dow closing off 234 points. The nasdaq taking it on the chin, as well as the s p. Selling across the board. Asia, whiching into had been reacting the past several sessions this week to the north korean headlines. Lets bring up new zealand, which is just opening up, down
With the Alameda County jail seeking to have the jail notify i. C. E. Pride to mr. Pedrazas re prior to mr. Pedrazas release so the agency can take him into custody. He will be arraigned at 2 p. M. Kiet do, kpix 5. Some major changes to immigration policy sparked in part by a highprofile bay area murder case. Attorney general Loretta Lynch announced yesterday that in sanctuary cities like San Francisco, i. C. E. Will now detain Illegal Immigrants with pending cases. An illegal immigrant is accused of killing kate steinle on pier last summer. He was deported five times of and let go by the sheriffs department. The new sheriff said last month she wanted to see the citys sanctuary policy revised. I still have not decided what that would be. And my changes have to do with limited notification. Very limited. And im not sure how thats going to work out yet. Attorney lynchs testimony also included stopping the flow of federal granted money that would normally support Community Policing effort
His promise to repeal obamacare. President trumps team appears confident that a vote on health care will happen in the house this week, just as congress appears ready to wrap up a deal to fund the government. Lets bring in Kristen Welker and kasie hunt. The president telling bloomberg that hes open to meeting with north koreas kim jongun. Thats obviously something he did say during the campaign. But give us a little more background on whether the white house is backing the president s decision to potentially meet with the north korean leader. Reporter its interesting in that interview. He also said it would be an honor to meet with him. So he went a step further than hes gone on the campaign trail. Ky tell you based on my conversations here behind the scenes this is a white house that very much wants to see a diplomatic resolution to the crisis in north korea. So this is not a complete surprise that he would make this type of a comment. What does that mean . That means that the preside