Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
Commercial free dan nathan tim seymour and. And the head of rbc capital markets. Let us recap how this incredible day played out the dow just had the biggest point drop in history. Falling 1190 points. A 4. 4 drop. The dow index has now lost 3,200 points in week alone its now down nearly 10 this year the s p meantime falling 4. 4 as well handing in the worst day since august of 2011 and this is the fastest correction, a 10 drop from highs in the entire history of the stock market lets focused on big names you know controlling the market, fangs tumbling as well and took the market with them you had apple down 6. 5 . Google 5. 5 and microsoft a 7 drop wow. As stocks sold off buyers they flooded into bonds the 10year yield at one point trading at 109. 24 ended at 1. 26. The lowest at any time in American History for the ten years. Bond traders expect a rate cut on march 18th. But there is chatter possibility of intrameeting cut between now and then all told, the fear on the street is very
You are looking at a live shot from the white house we show that to you because in about 90 minutes, expected around 6 30 eastern time, the president will hold a News Conference on the outbreak we will bring it to you live as soon as it begins. Of course we have a special markets in turmoil coronavirus outbreak all joined in one hosted by the great Tyler Mathison in the meantime, were going to get to the macro market, but we want to begin with breaking news on one of the Biggest Companies in the world, microsoft, warning its windows unit will miss guidance for the quarter because of, what else, concerns about the virus. This is the latest company to cut guidance due to the outbreak microsoft shares down 1. 3 in the after market i would imagine that we had a few united and others, we will probably have a couple hundred more of these is my guess. Mastercard was a huge one as well listen, microsoft on january 29th gave guidance, and this was one of the things. First of all computing is pr
On you may have returned the ugly christmas sweater you got from your brotherinlaw you dont like but what if you could turn the ugly stock you would own the desk gives the names we will start with the nonstop on wall street the nasdaq hitting a milestone, crossing above 9,000 the first time ever. Records keep falling stocks keep climbing and fundamentals, tim serial dont seem to matter much. They dont. You can find an argument for valueses within megacap tech if you look at intel, sysco you cant make the argument with apple anymore. The interesting thing about the triple qs or the etf for the nasdaq 10 oh or lack at the nasdaq 100 we know that apple dominates this index and this is apple pick whatever point in the road you want in 2019, its 70 from june, its 50 from august, 50 for apple from august. And thats thats how you get to a nasdaq at alltime highs. Microsoft and apple leading the which. Today a little amazon for good luck but its lebron jamesly out of this. Which is amazing, da
Stocks bouncing around all session along on conflicting headlines about that december 15th deadline for china tariffs. Will it sfwebe extended. And House Democrats officially announcing articles of impeachment, two of them, against President Trump. Plus, coming up only today on the closing bell, wilfred frost is live from the Goldman Sachs Financial Services conference and hes got exclusive interview with Howard Marcus ks in just aw minutes. Joining us now for the hour is steve grasso from stuart frankel. Weve got to stop meeting like this i know, i know. We talked about this last night on fast money 5. Whats going to happen if theres no trade deal . Whats going to happen if the deal is extended and whats going to happen if a deal gets done there are three scenarios. Quickly walk us through each one. If the deal gets done, the market shoots higher but its only phase i of a deal. So i think it has a lot more ammo in its ability to move the market progressively higher from there. Nobody