Measures fail to emerge. On the monetary side, the bank of england, becomes the latest to cut rates treasury yields hovering around 80 basis points. Full Team Coverage of todays market plunge. Mike san tolly is with us and meg on the latest on the coronavirus. But well begin with breaking news out of washington major Bank Executives meet with the president today. Well get to wolf at the white house. Reporter the president and the Vice President and the treasury secretary currently hosting in the white house behind me the leaders of the major Financial Institutions of this country in attendance we have the leaders of jpmorgan, bank of america, citigroup, goldman sachs, wells fargo, black stone making it the type of gathering we havent seen since the peak of the financial crisis. Theyre all inside, as we speak. What will be on the agenda well, two main things. Number one, liquidity and the functioning of markets number two, lending to businesses that are most affected by the coronavirus.
That the borders are automatically shut down without having to say shut down. I mean, they are to a certain extent, automatically shut down, but its affecting the Airline Business as it would, and a lot of people are staying in our country and they are shopping and using our hotels in this country. So from that standpoint, i think probably there is a positive impact. But there is also an impact on overseas travel which will be fairly substantial. Mike, maybe ill let you give a briefing what we just discussed. Vice pres. Pence thank you, mr. President , and grateful to have the opportunity to meet with the leaders of the Airline Industry today. Mr. President , you said from early on we were going to have a whole of government approach. But the truth is as evidenced by all these great industry leaders, its really a whole of america approach. The American People deserve to know that according to all of our experts, the risk to the average american of contracting the coronavirus remains lo
Spending in france and switzerland neglect any of if january and twos, threes and fiveyears are measured in basis points the dow plummeting 3200 points in the week the worse since the crisis yesterday experienced the biggest oneday point drop ever, 1,109 points as we approach the end of the red february for stocks the dow is the weakest of the three major indices, down almost 9 monthtodate. Goldman again this morning, jim is saying they dont think this is over and that buying the dip is in their words riskier this time theres no doubt about it s theres a part of of the s p and its good to look at individual stocks here that are not buyable and if anything its involved with travel and leisure, autos, housing, because house something sl housing is slowing down and i dont thinkfed cut rates it would matter we do need to talk about something at the cooperman, and ive always talked about which is the algos are in charge i noticed this morning at 3 00, what am i doing up at 3 00 the bond Int
Brought to you today by your television provider. Next, centers for Disease Control and prevention director dr. Robert redfield and National Institute of allergy and Infectious Diseases director dr. Anthony fauci testify on the coronavirus outbreak. They were joined by other Health Officials at this House Oversight and Reform Committee hearing. It is two hours and 10 minutes. The committee will come to order. The chair is authorized to declare a recess at any time. I want to inform members that we have a change in schedule. As we explained in the hearing memo, we were planning to do Opening Statements from 9 30 to 10 00 and testimony and questions from 10 00 to 1 00. This morning, we were informed that President Trump and Vice President pence have called our witnesses to an emergency meeting at the white house. We dont know the details, just that it is extremely urgent. Now the witnesses have to leave at 11 45. In light of this sudden change, we are going to significantly reduce Openin
Redfielddr. Robert testify on the outbreak. It is two hours and 10 minutes. South korea has now tested more than 196,000 people but we are not anywhere close to that. They started conducting drive through testing, but people here in the United States cant even get tested by their own doctors. This is the United States of america. Were supposed to be leading the world, instead were trailing far behind. How did south korea test so many people so quickly but we didnt test a fracture of that number . Why did it take so long . We must do better. Unfortunately these delays have been systemic. Just last week the Trump Administration promised to deliver a million tests by the end of the week but it didnt even come close. On sunday they admitted they delivered only 75,000 tests, thats over 900,000 tests short. And this was their own stated goal to the American People. Now the Trump Administration is saying they have distributed a million tests and they will be distributing four million by the e