From the bloomberg terminal. A 2 trillion dollar wipeout. U. S. Equities see their worst rout in 12 weeks. Is there more to come . The precipice of disaster. Americas fourthlargest city but it may reimpose Steven Mnuchin says the country cannot close again. Plus, european banks close to Capital Requirements. Just under an hour away from the start of trading. Futureske a look at after the big drop we saw. Saw drops in asian stocks overnight. If you look at yesterdays cash a drop in the dax. 559 points. 559 point drop. In terms of u. S. Futures, we see a little bit of green on the screen. 1. 5 gains in s p and the dow. Can news on the u. K. Economy, lets get straight to that. The u. K. Economy shrank by 20. 4 . That is versus the previous month. Dropstimate had been for a of 18. 7 percent. 19 or so. It does show a stunning drop in output for the u. K. Economy during specifically the month of april. The u. K. Went into lockdown around the month of march. We are getting some other numbers
Energy stocks and financials are leading the overall market, while safe havens outperform well discuss the impact on the coyne vines. Dr. Anthony fauci will join us he is part of President Trumps task force on fighting the virus. Steve weiss is join joinin for the hour. What do you. I think the market should take it in stride. Weve had other Companies Come out and talk about the virus they make chips that go into handsets in china and primarily asia, also tmobile here they had they were lowering their forecast youve had other come out. And ive talked about it on the Halftime Report but we all spoke to micro, but in it continues, invariably it would continue in my view you take opportunities to get further invested if youre underinvested in certain names, because its a one or twoquarter phenomenon. It wont impact what i view as the supercycle in invests particularly in semis. So what the market is pretty much ignoring today are what a lot of people ignoring, the test it is companies, su
The first model 3 built in china rolling off the Assembly Line and elon musk tells his employees quote, pay no attention to the stock price, unquote. Im Ashley Webster in for stuart. Varney company about to begin. Ashley lets take a look at the gains for the major averages this year. Wow, oh, wow. The nasdaq, 35 . The dow, 22 . The s p, a mere 29. 25 . Joining us now, market watcher keith fitzgerald. Fitz, for big gains for next year . What do you say . Why not . Oh, i think weve got all the right things in play. Weve got record consumer confidence, great economics, companies growing. This is a great time to be alive and be an investor. There is always a possibility of shortterm correction but you know what, even a busted clock is right twice a day. Ashley more and more of those socalled experts are calling for that correction. Ten, maybe 20 . Whats going to trigger that . Well, you know, its the same old stuff. It could be a misplaced headline, could be a misguided escomputers. They s
, the second and third teams of the table, drew one at anfield. John stones scored for citizens in the 22nd minute and macalister equalized in the 50th minute from the penalty spot. A result that was not useful for any of the two teams. With this result, arsenal with 64 points and city with 63 points remain in the second and third places, and arsenal with 64 points and goal difference. Better than liverpool remained the leader. In another important match of the premier league today, tottenham defeated their host astan villa with four goals and finished fifth with 53 points. Despite this bloody loss, villa is still the fourth team in the table with 55 points. Today is also a great step forward for you he won and vashem drew 2 at home against burnley. I would like to correct one point about the premier league table. Arsenal, i said that the top 64 goal difference table is better than liverpool. Liverpool has 64 points and city is in the third place with 63 points. Lets go to the spanish
Special premises have been opened in the countrys rear areas to vote early in the countrys president ial elections, visiting commissions will go to the front lines, and early voting is taking place in hardtoreach areas throughout russia. In the vdeevsky direction, the Russian Military destroyed fortifications, Armored Vehicles and manpower of the Ukrainian Armed forces. Artillerymen carried out precise strikes on targets. Selfpropelled combat crews mstas installations received coordinates from the scouts and immediately moved to. Also, everyone can replace their comrade if something happens, that is, the coherence and interchangeability of our guns, yeah, is at an excellent level. The uk is calling on germany to transfer longrange taurus missiles to kiev, despite the leak of a conversation between german officers, writes the british Guardian Newspaper , citing official representatives. Meanwhile, in germany itself, the opposition is calling for the resignation of the defense minister.