Continues on a global scale. A worldwide their market, the 11 year bull run here is over. The dow is heading to the 22,000 level. A month ago it was 29,000. It is the fastest selloff in history. The s p will hit bear market territory at the open today, down 20 from the february high, the same story with the nasdaq. More money is still moving into safe treasury securities pushing the yield down to 0. 69 as of right now. The latest news on the virus brings its impact home to all of us. Sport dramatically affected. The nba has suspended the season indefinitely. A few days ago they banned reporters from locker rooms. Now the whole sport is shutdown. The Seattle Mariners will not be playing any home games. The early baseball season is in question. There will be an announcement later on the nhl. Social distancing is apparent across the country. You can see it and businesses are feeling it. Theres a long list of conference and meeting cancellations that is barely hurting airlines, hotels and
Coming out of santa rosa or novato. 101. Highway 1, just a heads up to you. Take your time out there. We want everyone to be safe out there on the roads. Showing you 280 here. Very light traffic in the south bay right now. Havent seen any problems down there. Bit busier in the east bay looking at walnut creek beginning to see the tail lights as people make their way south this morning and drive time as we go here. Albany to the maze. Eightminute ride and highway 101 to cupertino a tenminute ride. Reggie and kumasi. Developing news on the coronavirus emergency the World Health Organization is calling the situation a global pandemic. John Hopkins University has been tracking the number of cases and as of this morning there are 1,300 cases in the United States. A statewide recommendation to limit large gatherings to fewer than 250 people. The Trump Administration is also taking action banning travel from europe to the u. S. We begin with more reporter jul glover is live at mineta san jose
Around the world countries are ramping up their response to the coronavirus imposing increasingly drastic measures to combat the pandemic the u. S. Has already banned arrivals from mainland europe from friday italy has strengthened its lockdown closing bars restaurants and shops other than pharmacies and shops selling food 1016 people have now died there with more than 15000 cases several more countries have announced full School Closures such as norway which has seen more than 600 cases and even oland which has 43. 00 infections so far and we have to stop large gatherings as the 2 major restrictions on sporting events the n. B. A. In the us and spains top Football League has suspended all games for now. And Global Markets have continued to tumble on fears of the impact londons footsie 100 suffered its biggest daily fall in more than 30 years and trading was automatically halted in new york after a large drop when the markets opened to angela begins our coverage. Chaos and confusion in
Countries around the world are struggling to keep up with the coronavirus pandemic Global Stock Markets have had a turbulent week with some of the worst losses and i would 30 years so whats the economic fallout and calm a global recession this is inside story. Hello again im james burke says its the worlds Biggest Health emergency the corona Virus Outbreak is now a pandemic and there are fears it could lead to a catastrophic Global Economic crisis sweeping containment measures have disrupted markets around the world including the u. S. A travel ban on 26 European Countries came into effect on friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years on wall street the Dow Jones Industrial average sank 10 percent on thursday its biggest plunge since the black monday crash of 1907 while european markets showed some signs of recovery on friday throughout the week Global Stock Markets saw their steepest decline since the 2008 financial crisis wiping out
Frank. Good morning and welcome the international. U. S. President donald trump said the countrys economy may be heading into a recession since the u. S. Stock market suffered its worst trading day since 1987 the share price is tumbling by 13 percent on monday amid face over the coronavirus. Is the u. S. Economy heading into a recession well it may be thinking in terms of recession since the virus once we step i think theres a tremendous pent up demand both in terms of the stock market in terms of the economy and it once this goes away once it goes through and were done with it i think youre going to see a tremendous tremendous search will be pandemic is causing turmoil in Financial Markets willed wide despite drastic action from Central Banks to limit the damage my colleagues kevin owen and run as the have discussed whats driving this selloff. I suppose it was to be expected to spoil all those measures that us put into place the last couple of days nevertheless rather than coming thin