Where the dow is down more than 1,000 points. And lets bring in our market analyst here, and im honestly confused because coronavirus has been spreading throughout the world and asia for weeks, and what is today so different for the investors . Well, it is a perfect storm of markets falling in japan and south korea and italy and American Companies issuing the warnings saying that we wont meet the revenue expectations because of this, and china, fundamentally, china playing a bigger part of the Global Economy and looking back 20 years ago at the sars epidemic, and china was 4 of the Global Economy and now it is 16 , and so what happens there does matter. And now, for 2020, it is still up, and are those going to affect your 401 k s . Yes. And coronavirus was going to be bad no matter what because of the way of china, but it is pushing the nervousness that already existed in the markets. We are at the tail end of the recovery cycle and a lot of juice put into the stock market over the las
This morning, President Trump announced hes pushing the food and Drug Administration to fasttrack treatments for the coronavirus treatments. President trump said in a span of minutes that two drugs were especially approved and that he hopes those and other drugs under evaluation could be a big breakthrough. What the president said was either confusing or just wrong because the fda commissioner just minutes later said while these drugs are approved for other uses, theyre not yet approved for coronavirus. Fda will start Clinical Trials to see if theyre effective for the pandemic. And he acknowledged, of course, there are site effects with this these two drugs. And the president to invoke the defense production act the order to make military work to increase critical medical supplies for civilians out there. Today, the president said he had not yet actually triggered it. And that states should be picking immuch of tpick picking up much of the work and supplies to where they need it. As ho
Im jake tapper. Welcome, a major defeat for President Trump on capitol hill. No, it did not come just from democrats. This was a bipartisan review. The president could issue the first veto of his presidency. In fact, moments ago he tweeted that word, veto, after republicans joined all 47 democrats to slap down the declaration of emergency to get the border wall. Republicans murkowski, collins, lee, paul, portman, romney, alexander, toomey, moran, blunt, rubio and wicker. He tweeted a vote for todays resolution by republican senators is a vote for nancy pelosi, crime. Hyperbole on twitter, whether such tweets have any real affect anymore. Abby philip starts off our reporting. Call the role. Building the wall, as 12 republican senators join democrats in repudiating his National Emergency declaration to build the border wall without going through congress for the funding. The ayes are 59. The nays are 41. The joint resolution is passed. Reporter despite lastditch drama, an attempt to twis