Stock market suffered its worst trading day since 987 with share prices tumbling by 13 percent on monday the coronavirus pandemic is causing turmoil on Financial Markets worldwide despite drastic action from Central Banks to limit the damage discussed whats driving the sell off with our senior correspondent. Well theres only one way this is going and it is going down look at yourself in a matter of weeks the Dow Jones Industrial average this is this is an average of many major corporations so an index of their stocks the average it is plunged to levels that we saw that the world was out in 2070 so over the course of a few weeks weve race all economic progress made over the last 3 years and this is still early days yet i mean the pandemic in the United States it is predicted to get much much worse and essentially what were seeing is the equivalent of a run on banks so if a bunch of people run by sea to try to get their money out this is what investors are doing now with the stock market
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
Weekend cutting its key Interest Rate by a full percentage point to near 0 and boosting its Bond Holdings by 700000000000. 00 markets are still getting slammed triggering a 15 minute hold again right off the open. Target range for our own Interest Rate by one percentage point bringing it closer or further we expect to maintain the rate at this one and who were confident that the economy has weathered recent events and is going to try to achieve our maximum employment and productivity go. Equities saying deeper into bear territory as the dow is now about 30 percent off its all time highs investors are digesting nonstop news full of companies shutting down operations countries sealing borders and infections spreading in normal circumstances a large policy response such as this weekend would put a floor under risk assets and support recovery however the fear is exponential and markets are questioning what else Monetary Policy can do in mitigating coronavirus induced risks investors are li
The market down continues as an early fed rate fed doesnt work as planned this is boom bust the one business show you cant afford to mess im christiane and im burnt to born washington coming up the Federal Reserve has taken measures to combat the malays of the cope 19 impact we take a deep dive on the move and the way other Central Banks around the world are reacting plus. We have taken other decisions as well as going up the most important is that we have clues to argentinas borders during the next 15 days a period that can be extended to argentina the borders are closed and amid the outbreak what measures are some nations around the globe taking to slow the spread of which i mean we take a look around the world to see which nations. Traveled to states yesterday. And later several industries have been a casualty of the recent economic slowdown you havent planned as hard as oil we have a live report on how falling demand and a price war has. Been a jam packed show today so lets jump ri
Retail therapy as we just talked about. Alibaba single day features millions, raked in billions. We will be live in honcho. Yvonne betty, not sure how much shopping President Trump is going to get when he had to vietnam. He might be missing out. E is expected to head in their tweeting out from beijing. Meetings were very productive on both trade and the subject of north korea. He is a highly respected and powerful representative of his people. It is great being with him. Betty a lot of warm words exchanged during this today visit. When it came to tangible results that wereion of deals announced. Not much outcome. It was really quite interesting to see President Trump tone down some of that rhetoric. We have got to remember that i is coming off at the elevated level. He has more leverage against President Trump. The kind words from trumps tweets have a little more meeting behind it. He is finding himself at a more disadvantage against president xi and see how different they might be. In