I will use another strong word. Panic. That is justified. Late yesterday, panicked investors drove the dow down 1191 points. Thats the biggest oneday point loss ever. Okay, thats the backdrop. Now todays reality. The dow at one stage early this morning, futures were down over 600 points. Right now we are down over 400 points. The s p down 50. The nasdaq composite, way down, another 2 lower, off 166 points. Today on this show, we will ask when do we get a rebound . Where are the bargains that longterm investors might go for . Now look at this. This, what you are seeing, is a worldwide rush to put money into ultrasafe u. S. Treasuries. The yield now, 1. 19 . At one stage earlier it was 1. 16 , an historic low. That is a classic flight to safety. Heres what happens when the Global Demand for oil falls out of bed. Sharply lower prices. At this moment, we have got, what, about i think its 45 per barr barrel. That is on the price of oil. Thats the latest on the market action. Now the latest
Steve leishman alongside us helping us make sense of everything going on what the fed is thinking about all of this. The worst week for stocks since the financial crisis the vix surging, bond yields falling the even new lows. Stephanie link, a minute ago the nasdaq was positive. It went from positive to down 1. 5 in about ten minutes, if that. I know. What does that tell you about sort of where we are is that how a bottoming process happens . Doong we are close i hope so i think people are very confused obviously. Right . It is not surprising that the market went down because of this, because the virus has gotten so expanded the surprise has been the speed of the decline to lose 6 trillion in Market Company in six days, thats remarkable i dont know when we are going to bottom. But i am looking at an rsi on the s p at 20. And vix, jon you can talk more about that but a vix at 47, to me it seems a bit extreme. Then i look at what happened in the shanghai index it fell 14 the beginning of
The one business show you cant afford to miss. And im christie i watching 10 coming out the number of one of i think back to world wide profit a new milestone well tell you what is happening around the world. And that look at where markets have been this week worldwide and where theyre headed. And biohacking your body what does that mean to use fast and nootropics to trick your body into Better Health we have a guest is going to break it all down its fascinating stuff so much to get to on this very busy day so lets get started and we begin with the numbers on the corona virus in fact those cases worldwide have now crossed the 100000 mark the latest data also indicates that more than one 5th of those infection cases are outside of china in all about 90 countries now have at least one case of the corona virus and in china the work is being done to create treatments on the virus and any possible mutations. Which tends. To. At present we have the unified deployment of virus we. Developed y
We have the unified deployment of virus we. Developed you know the china the virus mutations we saw have not affected Drug Development or the preparation of antibodies in vaccine so at present all the work is under control so we are actively observing the degree of the virus mutation and we are actively pursuing Scientific Research projects that. Go outside of china south Korea Remains the 2nd worst hit country and as of friday they are reporting the nother jump in infections across europe the containment strategy has been focused on isolating patients in areas where outbreaks have been spotted italy of course remains the site of europes biggest outbreak and the number of infections there have increased from dozens of daily cases to hundreds there are now over 3800 infections in italy 577 in germany and 423 in france a 5th patient has died from the virus in spain as the number of reported cases there has jumped to 102 though all of the victims so far in spain are in that high risk cate
The biggest global coordinated effort since 2018 to save the Global Economy from the coronavirus. Were seeing it react pretty dramatically in the Commodity Prices right now. Look at the dow, were back up 766 points. Crude is up over 5 . Gold got smashed last week on margin calls, it is coming up 30 inhouse. That is pretty incredible run after a big blowout last week. The reason theyre buying gold, if all Central Banks start easing policy, gold might be a safe haven play t wasnt a safe haven play when we were worried about global recession but those odds seem to be going down as Global Central Bank starts to take action. Interestingly enough, last week commodities really got crushed. Grain prices, cattle prices, food prices across the globe, worried that people wouldnt have a lot of money to pie a lot of food. Those prices are coming back. Really a mood change from Opening Sunday night. We got more bad news from the coronavirus and more bad news thing is getting out of control, we open