This is worse than almost all of those days as well. 2008. Well put it in perspective. Im connell mcshane. Melissa im Melissa Francis this is after the bell. The s p 500, the nasdaq both closing down more than 7 . President trump is expected to meet with senior officials at the white house this afternoon amid coronavirus fears. Well bring you any headlines from the president this hour. We have fox Business Team coverage. Phil flynn is watching all the action. That is where the action is, in the oil pits of the cme. Kristina partsinevelos is on the floor of the New York Stock Exchange and blake burman is live at the white house. Phil, im going to start with you. I have some ideas. The president could open up and fill the spr. Hey, that is a great idea. They were selling high a few months ago trying to get rid of it to pay off the budget. Now they could be buying low. That is not the first that happened. President clinton did the same thing. Bought oil from russia when they needed money.
Plunging 316 points. S p sinking 1. 62 . Nasdaq dropping 1. 16 . I understand the dilemma here. You benefit from low oil prices, right . So do i. The fact they keep declining relentlessly brea lly freaks ou here. What will go belly up . Will the consequence be . Do they do when they are scared. Its easy. They sell their stocks. Now always remember the way big money things, big money controls the prices on your screen, not you and me. Stocks are who is known as an asset class, not individual companies. Those who think lower oil will cause may ham among producers that will spill over to all companies, just come in and they like a free fire zone blast out of the s p 500 futures. Either to get short the index bet against stocks or to hedge against existing stocks that they own and those sales from the future often reverberate into lower stock prices for all 500 stocks as they get overwhelmed by institutional selling. After the smoke clears, individual institutional stock investors come in
Looks like the compass works like me just right just 50 nations 50 stories and 53 personal tips on balance a very. Good. Greenwood t w. This is d w news asia coming up on our show today dramatic scenes in hong kong as protesters trashed the citys parliament how far are they willing to go to stop the encroachment of chinese rule and how will beijing react well hear from our correspondent also coming up the dangerous path across the border fuel smuggling from iran to pakistans thriving well look at whos behind it and why neither side can seem to stop it. And diving into street food in
taipei will get a taste of a new v. W. Series on you tube exploring the kohen area highlights of the taiwanese cafe. Thanks for joining joining us im sumi so muskaan its good to have you with us on news asia now a tense calm has descended on hong kong after a turbulent night of unrest in the city a cleanup operation is underway to remove debris left over from the chaotic scenes that unfolded in the governme