Cnbc im becky quick with joe kernen and Andrew Ross Sorkin the market has come under significant pressure this morning. And the nasdaq off by 143. Its all coming this morning a rough week for wall street 5. 5 that was the worst week since march 20th and all three are coming off of their biggest weekly losses and last month after last week. The dow and nasdaq for the month of june would be down with the projected losses that were looking at this morning. S p is already down for the month of june. Also keeping track of the treasury market this morning lets take a look at that. Treasury yields yielding 0. 08 crude oil prices under pressure this morning too this is a sign of how much is anticipated in terms of a come back not only here in the United States but around the globe and right now wti down about 55 cents. Still trading 35 though at 35. 71 andrew. Thank you, becky. I hope everybody had a great weekend despite some of these losses that were looking at in the market i want to start
4. 8 million numbers worldwide confirmed. 1. 5 million of those cases in the United States. 318,000 deaths and over 90,000 deaths in the United States. 28,000 people have recovered. Look at the righthand side of your screen. You can find this on the Johns Hopkins website. Before we get to your thoughts on the confidence level in the Trump Administrations response to the pandemic we want to begin with the president s comments yesterday that are making making news, what he had to say. Bout taking hydroxychloroquine President Trump [video clip] President Trump a lot of good things are coming out. Many oftline workers, them happen to be taking it. I happen to be taking it. Hydroxychloroquine, you are taking it . Pres. Trump hydroxychloroquine, right now. Ive heard its good. Ive heard a lot of good stories. If its not good, ill tell you right. Im not going to get hurt by. Its been around for 40 years for malaria, lupus. Frontline workers take it, a lot of doctors take it. I think people sho
We will receive testimony from the secretary of the check treasury as required under title iv of the cares act congress has appropriated 3 trillion to protect to fight the pandemic and to stabilize the infrastructure of our economic system. A large portion of this funding is from the title iv of the cares act which has significant resources for loans and loan guarantees and other investments from the Federal Reserve with the emergency lending facilities in the states and municipalities and tribes. The title iv provided 454 billion as the infusion into the Stabilization Fund to support the emergency lending facilities that facilitated the qualities to support eligible businesses, states, local governments and tribes. And to be authorized under section 13 and to stabilize those markets but the Federal Reserve announced the establishment of the intent to establish to support the Financial Markets and businesses including some that are supported by the cares act. Last week other members of
To disneys streaming kit abilities. Disney is down 1. 7 now. Guy here in europe, it is unsurprising we are seeing a reversal. Marketse peripheral really taking it on the chin after the rally we saw yesterday. The stoxx 600 down 0. 8 . Byrids overbite is down over 3 . You are continuing to see a bid on btps, which is fascinating. Massive move yesterday on the plan announced out of paris and berlin come up in chile to allow burden sharing in europe. A huge rise about in jobless and the u. K. That makes you wonder what happens when some of the Government Schemes start to roll over, and potentially millions market added to the unemployment roster. It is a very disturbing number to have to deal with. We do have some news on paris, potentially providing some clarity for the post frexit u. K. Thein the postbrexit regime here in the u. K. Vonnie fed chair Jerome Powell and the treasury secretary testifying before congress. We will bring that to you when it happens. We got numbers from kohls an
Let me first say want to thank the chairwoman and ranked member mchenry and my colleagues and Ranking Members of the subcommittee and all my other colleagues for their participation in todays discussion on the update for prudential regulators that this is a timely amid the health care and economic devastation of the covid19 pandemic. In queens and other parts of new york city theyve been very hard hit. Plaintiffs suffered more cases more death than most states in the country. When amid the health care crises millions have lost their jobs and lost income compound in the Economic Impact but thanks to the doddfrank wall street reform and their implementation in the decades that followed the financial crisis the Banking Sector has emerged in a bright spot to buffer the initial impact of the crises and restructured mortgages and loans. I have had serious concerns about the implementation of the program in the road some of the banks in privatizing small distances and minority come into that