Either thanks for joining us this is r. T. International. World oil stocks are taking a heavy hits following the failure of crude producing countries to agree production cuts demand for oil. Says that it will increase its output dont call it is following the story joins me here in the studio a shock for a lot of people i think this how exactly does this come about yeah absolutely neal while the markets are just going way down since mondays opening asias markets have been taking a plunge european and american futures have been in freefall and oil prices have seen their biggest fall since the 1st gulf war in 1901 that was a long time ago. Ok how have we got to this position does it mean were talking about big changes in Global Markets in a lot of areas but but its pretty big in particular new oil yeah absolutely it started with saudi arabia actually its attempts to drastically push down the price of oil to between 6. 00 to 8. 00 a barrel and thats the coronavirus hysteria which like you
Tomorrow mini super tuesday primaries but big eyeses on biggest prize michigan and Sanders Campaign survive . It is monday it is march 9th fbn am l starts right now. Lauren welcome a manic monday indeed im lauren simonetti. Cheryl a lot to get to good morning im cheryl casone. Lauren take a look at how your money is moving moving this mors of now Dow Jones Industrial average dropping at the open that is a decline almost 5 . The s p set to drop 14 a 5 points nasdaq down 410. All three major averages down 4. 9 this morning. Reminder, last week the markets finished in the green. Cheryl lets take a look at what caused selloff this morning that is the oil story we told you about that at the top of the show this fight between saudi and russians oil is down 21 right now. And one point wti what youre looking at a was down 31 and co coalition and saudi slashed oil prices here they are. Lauren been a rally in bond market pushing yielding on tenure treasury down record lows. It did hit 0. 3 in ch
For that welcome youre watching international now as World Oil Stocks are taking a heavy hit following the failure of crude producing countries to agree production cuts but as demand for oil fulls saudi arabia says it will increase output on quarter joins me studio next tell us more about what is happening dont know exactly what is happening there why would saudi arabia decide to increase production well in the World Markets are just going way down since mondays opening in the asian markets have taken a serious plunge european and american futures have gone into freefall and oil prices have seen their biggest fall since the 1st gulf war in 1901. And so just explain then we know you know disastrous situation as far as always is concerned today but why is this happening what has led up to this well basically a price war is raging right now between saudi arabia and russia it started over the weekend when riyadh which runs the Worlds Largest oil company cut its export prices to between 6.
Definitely a flight to safety today and for the entire week when it comes to stocks in general. Lets take a look at this tenyear note, the yield on that, because it continues to move lower as investors are buying bonds, the yield moves lower. We havent seen the inverted yield curve with the three month this low since september. The concern from investors here, what theyll read into it, is that the Coronavirus Impact could potentially, potentially cause a recession, and so were getting that talk circulating back on the floor again. Meantime, were seeing a big move in gold today too, another 25, supporting the idea that people are worried about the virus, the notion that the chinese may not be telling us the whole entire story and that its moving outside of china quicker than we thought. The final point ill make about this is, yes, apple said it was going to have a big impact on its first quarter, but coke saying its going to take a penny or two off the ets, but were going to hold on to
To. Go i will welcome you watching our Senior International with me. And we start with some breaking news from germany 8 people have been killed in 2 drive by shootings in the town of her now to the east of francos 5 are those are critically injured according to police shots were fired from a car to shisha bars one in the center of the town and one on the outskirts the suspects fled the scene and a manhunt is ongoing as a heavy Police Presence in both areas with helicopter patrols will keep you updated as the information comes in. I live in turkey now where the turkish president says its only a matter of time before we launch is a military operation in the syrian province of it live in claims hes been dissatisfied by talks with russia on the situation there. It is resolved to go. To q. Has made all kinds of preparations to implement its Operational Plan and it works as in every operation we see we can come suddenly one night to put it more clearly operation is now a matter of time we w