Activity as Economic Activity grinds to a halt here in the u. S. , the white house calling for half a trillion dollars in direct payments to taxpayers and says we could see bailouts for airlines, hotels, and cruise industries, all the sectors getting crushed in todays market and crude oil down a staggering 23 . Now trading just above 20 a barrel we have every angle covered for you. Bob pisani is on the floor of the New York Stock Exchange. Kayla is in washington with the response to lawmakers. And were covering the latest on the virus itself bob, first to you on another roller coaster ride today here at the Stock Exchange. We have a quiet morning i say relatively quiet, it was down 6 tach take a look at the s p i urge you to watch it emotionally. He said we need a 30spring break. This slow rollout of a shutdown is not working market dropped quickly to the lows of the day. We hit the Circuit Breaker at 12 50 eastern time, 15minute pause. We reopened. We have not dropped to the he second
In times of crisis, and with the dow plummeting another 1338 points, s p plunging 5. 8 and nasdaq down 7. 0 were in a doozie of a crisis you simply could not do enough to help make things better our government should always error on the side of doing too much in these situations because you dont beat a pandemic by thinking small not unless you get very, very lucky. So far we weve been about as unlucky as it gets everything is going wrong at once in terms of being constructive let me tell you what i think needs to happen to stop the tsunami of selling in your stocks in your portfolio when i say we need to think big, i mean huge, it was terrific to see a bill pass the senate with massive bipartisan supreme copo that help the cause. The government has said that bars and restaurants should close down payrolls a payrolls hotels, airlines 59 billion, all jobs are in danger and many are already gone we need to write checks directly to the workers we cant afford to tear the fabric of society b
Marsha blackburn coming straight up. There are mixed messages from doctors, government officials, what do we know and what do we need to know . Reaction from former hhs secretary tom price in just 30 seconds. All that and so much more on making money. Charles just a few seconds ago the dow was off 2200 points t exploded to upside after word came the new york fed is increasing treasury purchases. It is a massive program. Nevertheless the s p 500, nasdaq, entering bear market territory. The dow officially, 11 year bull market is over. All three indices down 20 from the recent highs just touched three weeks ago. President trump commenting on the market just a while ago. We have a lot of things that were working on with the Financial Markets and, its going to work out fine. You have to remember the stock market as an example is still much higher than when i got here, it has taken a big hit. It will bounce back and it will bounce back very big at the right time. Charles lets bring in edward
2,255 points. Right now we are down 2,003 points. At 1 00 p. M. , money started fluttering down, the Federal Reserve making a move to support the bond market amid the coronavirus collapse. The s p 500, by the way, had been down 240 points and of course, we had 689 points getting slashed off the nasdaq. Right now the s p is down 219 and as we look at the nasdaq its down 619. Despite the feds move, the s p and nasdaq joined the Dow Jones Industrials in a bear market. This as the 11year bull market is officially about to come to an end. The selloff kicked in pretty much right at the open and five minutes in, triggered once again for the second time this week the Circuit Breakers that halted trading for 15 minutes. Lets show you some metrics here. The oil patch. Take a look at this. It is playing a huge role in this selloff once again. Oil is crashing, folks. We do have it down to 31. 32. Thats a loss of 5 today. Much of this comes after President Trump announced a travel ban on flights fr
Worst performance in the hamburg election since 2002. Unicredit ceo rules himself out of the running for hsbcs top job. To leavey is expected barclays at the end of next year. The european open sent to be dominated by talk of what is happening in italy. Lets get to the futures. The extremes of selling we are expected to see. We did see negativity during fridays session in europe and the u. S. The change in case numbers in italy. The measures being taken by the authorities to try and stamp out this outbreak. We will keep an eye on that and bring you all the latest headlines. Lets have a look at what we see on be aware that the ftse futures in italy looking really negative. Lets have a look at what is going on on u. S. Futures. This is set to go increasingly global, it would seem. It looks as if the negativity will carry through europe and into the u. S. Session. Ets look at the gmm we had a lot of negativity before we got news out of asia. The malaysian Prime Minister has resigned. Anot