Announcer this is Washington Week. Funding is provided by life isnt a Straight Line and sometimes you can find yourself heading in a new direction. Fidelity is here to help you work tough the unexpected with Financial Planning and advice for today and tomorrow. [laughter] announcer additional funding is provided by the estate of adam adams and koo and Patricia Yuen through the yuen foundation. Committed to bridging corporate communities. And contributions to your pbs station from viewers like you. Thank you. Once again from washington, model rator robert costa. Robert good evening. We begin with the latest on the painful economic shutdown caused by the coronavirus pandemic with many aricans struggling to pay rent, buy food and cover their health this week the weekly jobless claims jumped to m 6. Lion a Staggering Number with losses in nearly every corner of the economy. And earlier friday the pa ment reported a loss of more than 700,000 jobs in march. Federal authorities prepare for ne
Lows fausting with a relief after more than 1hundred points lost in just two days. Investors are getting back into this market and theyre bargain hunting because the bottom line, yes, there is fear about the coronavirus but no one really knows what is going to happen. Weve seen a page from this kind of playbook before. Markets do tend to claw their way back. When ebola was a threat of july 2014 to march of 2016, there was a lot of volatility but the dow only lost half a percent overall. For sars, november 2002 to july 2003 the dow gained. From september 2001 to october october 2002 the dow lost a little more than 17 . You look at history, get a sense how investors reacted to all kind of different events, ebola, sars cases, they say that they tend to be blips, not events that define the market. Major corona headlines breaking today, the cdc confirming 14 cases of coronavirus and a u. S. Soldier in south korea testing positive as well. That is not to say this isnt something to worry abou
Retaliation. If they retaliate, talk sanctions against iraq. Gold, still in and out of a sevenyear high. A lot lower than it had been. Oil barely positive. For a while, brent, that was well over 70 a barrel. But it is not translating to big gains here. Then we have treasury yield actually backing up a little bit after it was, getting lower and lower on sort of a flight to quality, that doesnt seem necessary. The dow as i indicated down about 63 points. We had been down close to 300 points. What is remarkable about all of this, folks, sometimes we see things in the prism of the financial community. I like what it shows people who bet with their own money think of what this is going. Theyre not always prescient and right. Theyre far from accurate period. In the middle of this moment, what some are calling potential world war 3 00, sort of a muted, sort of a shrugged shoulder reaction. Why is that . Latest from blake burman at the white house. Hay. Hey, blake. Reporter over here at the wh
I could go on and on. Growing china trade uncertainty. Things are getting a little violent right now in hong kong. For next two hours well put it all together. We say boo, you decide whether you still want to buy. See what we did there . Neil boo were down 226 points just like that. Starting off the first day of this problematic month. It is not traditionally the worst month for stocks but more memorable from some of those crashes, crashettes whatever you call them. Im not saying it will end up this way but it is starting out that way and scaring some folks. We have had big drops this month. October of 18 we can remember 1342 hit. In 081525 point hit. We could go on and on. In percentage terms the big one to beat is 25 plus hit in the dow in october of 1929. In 1987 we lost a quarter of the dows value. I only mention that, this is a spooky month. We have a lot of spooky developments were getting into. Not only widening search for subpoenas on capitol hill and people resisting those sub
Wellpositioned to win the streaming wars. It is all coming up today on coast to coast. Our top story, new reports say saudi arabias oil out put will indeed return to normal levels maybe the next two or three weeks. That is a lot quicker than the months we originally had been hearing. It comes as iran is now responding to the allegations made by the u. S. Blake burman at the white house to pick up the story from there. Whats the latest, blake . Reporter hi, there, connell. On the political side of things the white house is still walking a fine line saying that they believe iran or at least at this point signs are pointing to iran being behind the attack on the saudi oil complex. They are not yet willing to definitely say that they are absolutely certain that is indeed the case. Remember as part of the response from President Trump over the weekend, his initial response was that he said that the u. S. Was quote, locked and loaded. Yesterday on three different occasions when we heard from