For manufacturing as china begins its road to recovery were going to take a look at the nations Industrial Base and what life in store for supply chains around the globe we have a show for you today so lets go and dive right in. The krona virus continues to spread across the world as europe and the United States prepare to see a sharp increase in the number of cases italy continues to enforce its walk down of some 60000000 people with 1000 new confirmed cases the European Union per president met with Prime Minister is Via Video Conference on tuesday afternoon to court and they offered to combat the virus this comes as chinese president xi jinping made a visit to hunt china this was his 1st time since the start of the outbreak china recorded its lowest numbers of infections there were just 19 and they were all in speaking to doctors behind a screen she thanked some of the medical workers. On the phone you are wearing protective clothing so i can see your real faces. But in my heart you
A congressional hearing in which case that will. Well break down the shake up at one of americas largest banks a lot to get here on a very busy day so lets get started. On oil lost as much as a 3rd of its value monday in its biggest drop since 1901 gold war fell to 30. 00 to 30. 00 per barrel as saudi arabia launched a price war with russia after the 2 failed to come to an agreement at its vienna meeting russia declined to agree to production cuts that have artificially kept Oil Prices Steady officially russia said it wants to wait and see what the Coronavirus Impact on demand is before agrees to cuts on officially russia is angry about u. S. Sanctions of Russian Energy Company Rosneft and attempts to stop the north stream to pipeline to germany by flooding the market and sinking prices russia sees an opportunity to crush the us shale industry which is dangerously levered to the hilt russia is also fed up with cutting production outputs timeout that time while u. S. Shell producers eac
International. Prices suffered the biggest collapse in 30 years before rebounding slightly as saudi arabia stepped up its price for. Oil prices plunged up to 30 percent on whats been dubbed black monday the biggest single day since the 1st iraq war sparked by a spat between top suppliers riyadh and moscow who couldnt agree a deal on production opec proposed output cuts in response to forming demands due to coronavirus concerns moscow disagreed noting that that would simply give an unfair advantage to u. S. Crude produces insists it wont give up its benefits. The Russian Oil Industry has a high quality Resource Base and a sufficient margin of financial strength to remain competitive out any predicted price level as well as maintain its market share for russias interests this deal is simply illogical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shell and make it worthwhile for them as the Mainstream Media have called russias refusal re
International. Suffered its 1st automatic hold in trading in more than 2 decades after stocks fell nearly 8 percent shares were spooked by the biggest collapse in the oil price in the ninetys before rebounding slightly as saudi arabia stepped up its price war. And in the u. S. The dow plunged more than 2000 points the worst one day point drop ever prompted by Oil Price War that stunned markets around the world we have a huge market event yesterday as a lot of investors repriced all the shock the crash restart markets and the 2000 point swing on the dow its the same for what happens today Business News now starting with the crude oil markets as they try to bounce back from their worst day since 1991 or prices plunged 30 percent on whats been dubbed black monday in the biggest single day force since the 1st iraq war it was sparked by a spat between top crude suppliers we had a mosque who couldnt agree a deal on production. Saudi arabia says that it will slash oil prices to grab market sh
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have more to go . Well, i understand the focus on the equity