Good morning and welcome. Consistent with the guidelines released last night by the ho e attending physician and the speaker all present today in the hearing room are required to wear face coverings. Brief removal of the masks for the purposes of speaking on the record is permitted. I want to thank everyone for their adherence to these guidelines as we continue to do our work protecting the health and safety of our staff families and communities. So thank you for joining us today. Pursuant to todays instance n our hearing is taking place in the ways and Means Committee room with members able to attend remotely with compliance with proceedings pursuant to House Resolution 965. We currently have 33 members logged in and participating via the platform. For those members here in washington and plan to participate in person we have a limited number of available seats at the dias to ensure we adhereby to social distancing guidelines. I encourage members to watch from their office and only co
I want to thank everyone for their adherence to the guidelines as we continue to do our work while protecting the health and safety of our staff, families and communities. Thank you for joining us today. In pursuant to notice, todays hearing is taking place in our ways and Means Committee hearing room, with members permitted to attend remotely in compliance with the regulations for Remote Committee proceedings, pursuant to House Resolution 965. We currently have 33 members logged in and participating via the webex platform. For those members who arent here in washington and plan to participate in person, we have a limited number of available seats to ensure that we adhere to social distancing guidelines. I encourage members to watch from their office and only come to the hearing room when it is your turn for questioning. Before we turn to todays topic, i want to remind members of a few procedures as we navigate this hybrid hearing setting. First, consistent with regulations, the commit
Discover. Subscribe to the documentary on. The. Market losses continue as fears balanced over the coronavirus wall street suffers a 6 day of sell offs with more businesses curbing their operations and lowering earnings forecast will bring you up to speed. Also on the show china is trying to get business back up and running with krone case members still rising it has a ways to go. And the u. K. Puts on its poker face for next weeks trade negotiations with the e. U. Brussels call it a bluff. This is your. Business report im Stephen Beard is in berlin thanks for joining us u. S. Markets fell for the 6th straight day on thursday as Major Companies continue to curve their operations and slash earnings projections as a result of the spreading coronavirus best p. 500. 00 tech heavy nasdaq index is each lost more than 4 Percent Crude Oil prices continued slide falling more than 2 percent to 52. 00 a barrel analysts at Goldman Sachs have even projected the u. S. Businesses could see no Earnings
But the business of the brics it is only Getting Started the dust actually wants a trade deal with europe. Business and want to johnsonville in the tabby with us global stocks tumbling from new york to asia the coronavirus continues to spread on a list already say this could be the worst week for the markets since the financial crisis a decade ago renowned economist Nouriel Roubini the man who predicted the financial crisis but he warns that the worst is yet to come and the federation of German Industries calls it a stress test for the economy theres no longer any doubt that growth is set to take a knock the question is just how bad will it be. Jim and come make a particularly dependent on china the Industry Association says january sales were down 20 percent from the previous month a result of the coronavirus. With the virus now spreading across europe trade slumps travel restrictions and a drop in consumption are all on the cards. The German Economy minister says aid measures are in
Deepened supply chains are starting to falter and tourists are staying at home as the Business Community struggles to predict the coronaviruses economic fallout observers warn the virus could be the final blow that throws the World Economy into recession. Markets around the world a sinking fast its the worst week in a decade for global stocks and investors in hong kong and the only ones seeking safer territory. In the u. S. Traders could only watch on as the dow jones suffered its worst single day drop in history on thursday as the corona virus continues to infect more and more countries so does its negative impact on economies around the world this is milan in northern italy normally busy tourist hot spots are deserted and restaurants are empty. The International Monetary fund says its still getting to grips with how deep the Global Effect will be the virus is going to have an impact on growth. A lot just depends on. The speed of recovery in in china and in other countries the spillov