This is boom bust the one business show you cant afford to miss branch boring washington coming up grim prospects have gotten even darker as the i. M. F. Has issued an outlook of the near future of the Global Economy and as the economic continues to sink poor nations are struggling to receive pandemic payments will break it all doubt plus. Endemic u. S. Markets are surging despite record unemployment claims and poor Bank Performance but why well bring in expert analysis straight ahead we have a packed show today lets go and dive right in. The corona virus pandemic. Which has caused a lockdown and mere halt of business worldwide is going to have a lasting effect on the Global Economy but just how bad will it get the International Monetary fund on tuesday joins those who say it could create the worst financial crisis since the Great Depression. We are projecting Global Growth in 2022 flaws to minus. 3 percent. Now this is a downgrade of 6. 3 Percentage Points from general 2020 Major Divi
The corona virus pandemic which has caused a lockdown and mere halt of business worldwide is going to have a lasting effect on the Global Economy but just how bad will it get the International Monetary fund on tuesday joins those who say it could create the worst financial crisis since the Great Depression. We are projecting Global Growth in 2022 full on to minus. 3 percent now this is a downgrade of 6. 3 Percentage Points from general 2020 Major Division over a very short period of time. This makes the Great Lockdown the worst recession since the Great Depression and far worse than the Global Financial crises the i. M. F. Chief economist said there will be a partial recovery in 2021 adding the overall g. D. P. Will remain below previous levels the comments come weeks after u. N. Secretary general antonio terras made similar comments saying the pandemic will bring a recession that has no parallel in recent years and that it is the worst crisis since the 2nd world war meanwhile the w t
Quarter. The Second Quarter is probably going to be weak. In fact, in the view of many, output declining output lower in the Second Quarter than in the First Quarter. After that, its very hard to say how big the effects will be or how long they will last thats going to depend, of course, on how widely the virus spreads, which is something that is highly uncertain and i would say in fact unknowable jim, so its just you and me today. Lets start broad. Get your thoughts on the last 72 hours. What are you thinking right now . I think that the one thing i was very worried about in the 2007 and the 2009 issue, could i take out 50,000 from Jpmorgan Bank because i was concerned. And i took it out. I took money out of a lot of Different Bank accounts. This time im not. What was the purpose of last night . Theres a lot of things. The purpose of last night was to make sure you didnt take money out of the bank because you didnt trust the system. You dont have to bury it. That was important now the
With second largest point gain on record. Up 1,173 points yesterday for the duh industrials, that was 4 and a half percent. Nasdaq was up 334 points. About 4 . The s p 500 also higher by a quarter percent with a gain of 127 points. Coronavirus, crisis continues, california declares state of emergency as the number of patients in the golden state rises, the house passing 8. 3 billion bill to bat it will virus, the senate due to vote on that today. United and jetblue cutting flights to the United States, all that coming up. Samestore shelves, heared out of clorox and canned soups. Senator Bernie Sanders releasing ad barack obama praising him and joe biden hitting back and Mike Bloombergs expensive run to the end and is Elizabeth Warren coming next . Mornings with maria is live right now. Maria we begin with another volatile day in markets this morning. Take a look at markets overseas as we sea big selloff in the u. S. Cac quarante in paris down 91 and dax index in germly lower 120 points
Yields down by about eight basis points, once again under 1 for the 10 year. Time now for global exchange. From hong kong to washington to new york, our bloomberg voices are on the ground with this mornings top stories. Want to beginning asia. Total coronavirus cases around the world is now above 95,000. Cases seem to slow in south korea, while switzerland reported its first death. With us now is sophie kamaruddin. Is reporting an increasing number of recovery patients, roughly 62 of those who have been diagnosed who have been discharged from hospitals. The number of fatalities reported wednesday totaling 31, all of which were in hubei province. Jinpings scheduled visit to tokyo has been delayed, and Prime Minister shinzo abe did reveal tighter border controls and japan, including two weeks of quarantine from visitors arriving from china and iran, as well as south korea, where cases have topped 6000, but the daily count has slowed has monday at the country been testing hundreds of thou