Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy report
From the Administration Last week. You period potus, President Trump, they could wait until after 2020, to possibly sign a deal with the u. S. Larry kudlow says dont expect any grand bargain this week. The first facetoface with the g20. Robert lighthizer along with steve much, treasury secretary. They are in shanghai and talking to their opponents on the chinese side. What is expected theyre looking to get tax back to where they were at the end of may, before all of this broke down. And four areas of discussion including huawei. Right now we have a general reprieve for huawei. 90 days at least for all u. S. Companies that supply to huawei. I guess well get more details on that, trying to buying up more u. S. Agriculture, namely in soybeans. Intellectual property protection, a lot of u. S. Companies are calling for. Ending china state subsidies. That will be dependent in terms of how far china is willing to go. How far the u. S. Is willing to go. We do have u. S. Trade goods from china.
Officials are at the bridge checking for structural integrity. When it is determined the bridge is Strong Enough to let trains go over rec, they will resume traffic. We are working to get more information and we will bring it to you. Latest developments out of kern county where there were multiple aftershocks following the strongest earthquake in 20 years. Jeff paul has the story from ridgecrest. Reporter it was the strongest earthquake to hit Southern California in two decades. A few minor injuries and isolated damage reported as well as power outages. Officials are working to repair the damage. We do know that there have been significant power outages. Reporter it hit thursday morning and followed with multiple aftershocks. Folks from las vegas to the Pacific Coast felt the quake. Minor damage reported as far away as the los angeles area, more than 150 miles away. Mycole apartment started moving and the roof cracked. It sounded like hundreds of pebbles hitting the rough at one time.
Greenfield chairs the council this month. The council must address the horrors, the abuses, and crimes being perpetrated daily by the kim regime against his own citizens and people from other Member States including japan and republic of korea. The diplomats said the u. N. High commissioner for human rights is expected to report on the Current Situation in north korea. China and russia have opposed calls for an open meeting and are expected to do so again. Both are permanent members of the security council. Well, russia has launched its first lunar probe in nearly half a century aiming to land on the moons unvisited south pole. The last russian probe was launched in 1976 during the soviet era. Russias space agency said that the unmanned luna 25 lifted off on friday in the far east and entered its scheduled flight path. The luna 25 is expected to attempt a soft landing near the moons south pole on august 21st. It will then spend about a year exploring deposits of water and other resourc
Electricity. Most in lee county. Some customers might not have power for months. Governor ron desantis says 2,000 people have been rescued. State officials are trying to determine how many people are still unaccounted for. The window for finding survivors is starting to close. Cnns Carlos Suarez has more. Reporter unrecognizable in parts. Still underwater in others. Hurricane ians destruction and path so vast Search And Rescue efforts continue days after the storm tore through florida. We kent get over the bridge. Reporter residents in Desoto County are stopped. Air boats are key to getting supplies in and people out. These air boats are going out taking people into town and its been going for a while now. Reporter the death toll across the State Climbing rapidly. A lot of sick people running out of medications. A lot of people running out of water and until we can get everything up and going, were trying to get them out. Reporter hundreds of Sanibel Island residents cut off from the m