Good morning welcome to the show. We begin with breaking news as we have been for the past few weeks. Futures pointing to steep losses after pointing to one of the worst quarters on record the s p down as well as the nasdaq as well markets much lower the dow shedding more than 23 in just the past three months. Its worst quarterly performance since 1987, and worst performance for a quarter on record boeing there, sliding more than 50 since december 31, shaving nearly 2,000 points off the dow itself not much better for the s p 500, losing 20 for its worst quarter in history and worst quarterly performance since the financial crisis oil prices as well down 66 to the lowest level in 18 years coming off the worst monthly and quarterly performance ever down 66 the numbers are not much better right now around the world matt taylor is in singapore. Julianna tatelbaum has the early trade in europe. Matt, well begin with you it has started early in asia and is carrying around the world now. Absolutely. The first day of the new quarter for us in asia looking like the last few sessions as well. We saw a fair bit of late selling as well as futures moved sharply lower. We want to go through some of those. Particularly in china. Take a look at the shanghai kpozity down we have seen light in the manufacturing space showing that pmi expanded in the month of march. It rose 50. 1 following the official pmi number which showed a read of 52 when it comes to shanghai composite, it showed a decline and in hong kong, the decline of about 16 over the First Quarter. In north asia, japan down 20 . Bank of japan showing a negative mood among manufacturers in japan that slipped to a read of negative eight from zero this is the first negative print weve seen in seven years. Elsewhere, south korea down 20 . In australia, its worse quarter on record there down some 24 . Back to you. Thank you for that update to the early trade in the european forces, Julianna Tatelbaum is standing by in london good morning. European stocks are trading lower this morning you can see losses of more than 3 the ftse 100 underperforming the broader market, the uk benchmark. We had some manufacturing data out for the eurozone this morning confirming a steep contraction in the output. That only just begins to account for the coronavirus output and what it means for the economy. There is more defensive sectors Like Health Care holding up better every sector there is trading in negative territory a very similar picture to what we saw in the u. S. Substantial losses the ftse mib logging the worst quarterly performance ever down 28 . The dax down 25 and the ftse down 24 today, first day of the month, first day of the new quarter, that selling pressure has returned julianna, we have other news coming out of europe some of the uks biggest banks are bowing to pressure from the bank of england scrapping some payments in light of the crisis. We are talking big names san tan dar, barclays and more take us through that so far this morning, we have seen a negative reaction across the banking space. Here is a look at the moves we are seeing now this move from the uk lender is on the back of request from the banking authorities. The bank of england pushing them to scrap and use dividends to help the economy and channel measures p ut in place by the government into the real economy and households that need it. This follows similar calls from the european banks this is uk banks joining european lenders scrapping those dividends. We are seeing a negative share price action here. This is a shortterm tradeoff for a longterm benefit. That is live from london on the european trade tothe latest on the coronaVirus Outbreak where the number of global infections is set to hit 900,000 with nearly 200,000 in the United States alone. Thats right. The u. S. Infection rate remains on track to hit 200,000. The new statement from the white house has people on edge that is a minimum number. What we are looking at, whatever we can do under that number and substantially under that number, weve done that through mitigation and dedicated american people. 100,000 is the low end with projections estimating cases to rise to 240,000. The president adding that the u. S. Is facing a, quote, very, very painful two weeks maine is the latest to issue a stay at home order three out of four americans are now under some form of lockdown due to the coronavirus pandemic. Quest is withdrawing 2020 guidance saying testing volume has declined including covid testing because people arent going to the doctors to tests. Shares of quest down in early trade. Back to you. Back to the markets now. Stock futures indicating a sharp lower on wall street joining me now, bill baruch. Should traders and investors expect more of the same in april than we saw in march caller we saw a nice rally some of the levels, a lot of people watching the retracement in the market where the s p just stopped on a dime a lot of people attributed the balancing and a lot of liquidity that seems to be dying out here. If we get below 23. 80, we could start to see cascaded selling there. Keep an eye on the weakness from overseas crude oil there keeping it there. So bill, you mentioned these retracement levels talking about levels and benchmarks that traders look at on things perhaps moves, momentum and that sort of thing. Is it safe to say that those particular types of levels are what is driving action or is it still the uncertainty about the path in the u. S. And Global Economy absolutely, you have to credit some of these as volatility picks up. There is more uncertainty. That uncertainty and volatility, you may have a more fundamental back drop on trading and investing. A lot of people are driving on the Technical Levels that becomes more relevant here in a market like this. That doesnt mean the entire market needs to come off of that yesterday, we cut all reads for the time being there are Different Things you want to focus on looking at that narrative, where in april are you going to see tightening where are all these bills going to be paid what parts of the economy will start to work out. Thank you for those thoughts, we appreciate it empty super mark shelves and long delivery wait time are some signs of the global shock. A firsthand look at what consumers can expect plus, the pressure continues to grow for amazon over the firing of a warehouse worker who took a stand against what he saw as unsafe working conditions at one new york city warehouse. Now city hall in new york weighing in and sobering words from cleveland fed president over the unemployment picture. Still ahead when cnbc comes back ever since weve gone mobile on the now platform, somethings gotten into the office. I hear you. Feels like theres no barriers between departments now. Servicenow. The smarter way to workflow. But when allergies and congestion strike, take allegrad. A nondrowsy antihistamine plus a powerful decongestant. So you can always say yes to putting your true colors on display. Say yes to allegrad. Toyeah. This movinge colors thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Welcome back if youve made a run for supplies amid theout out break. Truckers have been key in the growing demand they are creating some hurdles for drivers to deliver those goods. Joining me with the story is jeff tucker, former chairman of the Transportation Association which represents the Third Party Logistics industry jeff, thank you for joining us lets talk big picture now are the u. S. s supply chains for u. S. Groceries in tact and not stressed yet they are in tact. They are stressed a bit. I want to first acknowledge Truck Drivers. These are folks that are 55, average age 61 in the crosshairs of this virus. They are out there supporting our needs. There are challenges these folks are facing we could all be doing better as elected officials. Ive made a couple of supply runs to my grocery stores. One of the things they ask is whether there is a real panic they look around and see store shelves stocked. What happens if we start to see more bare shelves and our truckers are more versed to the growing fears of the coronavirus . Id like to assure viewers that Truck Drivers as a whole, wrap themselves in the flag and rise to every challenge and occasion so i believe Truck Drivers will not abandon supply chains or areas even the hardest hit right now stores and food distributors, we take a percentage of calories from restaurants. All of this now has to go through grocery chains they are challenges with keeping up with that they are doing a pretty darn good job, i would say. Things we need most likehand sanitizer will take longer to come back on line. Youll see things feel normal again soon you bring up an interesting point about need we all need and want things like wipes and clorox wipes what does the Trucking Industry need to effectively do their jobs and keep American Store shelves stocked . It starts at the top. I think washington needs to priorities safety and convenience for drivers. Roeg decisions like pennsylvania made recently to shut their rest rooms and highway rest stops is a slam in the face of drivers who are literally sustaining us in life. Drivers are telling us, the biggest challenge they have right now is food, rest rooms and park etining. They are getting ticketed when there is no parking available for parking. Every four or five times we acknowledge the health care worker, we should be acknowledging the truckers as well we wish you and everybody in the industry good luck and best of health. Still on deck, pitching in one ride at a time uber pitching in to help the front line workers first, watching shares of macys as s p is removing the iconic retailer from the index saying the cap looking to be replaced we are back after this welcome back the crisis growing ever day with the death toll topping 1,000 in new york americas medical system is struggling to keep up. In new york city alone, the virusrelated death toll has exceeded 1,000 with 182 deaths in just 24 hours the 911 volume continues to hit new records. They received more than 6,500 calls in one day Governor Cuomo spoke about the difficulty of getting equipment into the hands of medical officials. You have 50 states vieing for one item we all wind up bidding out each other. It is like being on ebay with 50 other states bidding on a ventilator there are new reports of hospitals warning workers that they could be fired if they speak out about the lack of gear or talk to media without authorization. New york mayor has ordered an investigation into the firing of a working at the amazon warehouse. They fired him after, quote, violating social distancing rules. Back to you. Thank you frances rivera, stay healthy still ahead, best buys and what my next guest calls the market bottom check out shares of microsoft, the only dow stock to escape the First Quarter in the green by the slimmest of margins with a one tenth of 1 gain we are back after this boston light, americas oldest lighthouse, has stood strong through every dark hour and bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. But when allergies attack,f any the excitement fades. Helping you weather storms like this one, allegra helps you say yes with the fastest nondrowsy allergy relief and turning a half hearted yes, into an all in yes. Allegra. Live your life, not your allergies. [ one morwoo me b[ laughing ]] woo play pop music no way dude, play rock music yeah woah no matter what music you like, stream it now on pandora with xfinity. And dont forget to catch trolls world tour. Lets party people one more time stocks set to kick off a new quarter as futures point to new losses President Trump points to a very painful two weeks ahead amid the coronaVirus Outbreak the outbreak setting up challenges for Many Americans paying their mortgages new issues there it is wednesday, april 1, 2020 you are watching cnbc. Welcome back to the show im dominic chu live at the cnbc headquarters kicking off this half hour with breaking news futures are pointing to steep losses ahead of the opening bell ahead of one of the worst quarters on record as you can see here, the dow would open down by 668 points. About 78point decline for the s p 500 and the nasdaq showing an implied open down 209 points. Todays action comes after an historic month for the markets the dow shedding 23 worst quarterly performance since 1987 worse First Quarter performance ever leading the decline, boeing shares losing more than half their value. 54 to the down side that shaved points to the dow over that time span. The s p 500 losing 20 and Oil Prices Trading near its lowest level in 18 years coming off its worse monthly and quarterly performance ever down more than 66 much of that same around the world right now. Matt taylor in singapore and Julianna Tatelbaum in london for us in asia, much like we saw in the First Quarter we have positive economic numbers out of asia. Particularly china we did see a number of the asian markets. We did have the shanghai composite trading higher also in the manufacturing space with the private sector clashing and pmi showing expansion rising to 50. 1 in march and hot on the heels of the official pmi number we saw showing a read of 52. The shanghai composite, one of the better performers in the region neighboring hong kong did well it stood out as a better performer with a decline of 16 . Things became rougher. Further north for japan. The bank of japan showing a negative move among manufacturers in that country slipping to a read of negative eight from zero. The first negative print we saw in seven years elsewhere, south korea at 20 . Further, australia logging its worst quarter on record there with the s p down some 24 up by about 3. 5 now to the early trade in europe Julianna Tatelbaum is live in london good morning. So european stocks are kicking off the next quarter on the back foot across the board every region is trading lower the cac 40 down by the same we got fresh manufacturing data as well showingout put this is expected to be one of the newest data points one other is the action on bank space. Uk banks lenders have scrapped their dividends for banks to cancel dividends and buy backs and bonuses to bankers to use those funds to show up funds and lending to households that need it reaction has been negative you can see, we are seeing a great deal of pressure it was a dismal quarter for banking stocks as well following much of the same youve seen state side back to you. To watch now where the Trump Administration is ramping up projections of the death toll to the coronavirus. Eamon has those details. Good morning good morning, dom it was a grimfaced President Trump who came to the Briefing Room to tell reporters that the best Case Scenario is a lot of american deaths. They are very sobering. When you say 100,000 people, that is a minimum number what we are looking at and as many people as we are talking about, whatever we can do under that number, substantially under that number, weve done that through mitigation and dedicated american people. So the president saying that the best cased scenario is somewhere around 100,000 deaths in the United States that puts americas wars pales by comparison. 2. 2 million could happen if they had taken no mitigation efforts. Yesterday, we talked about nancy pelosi and her plans for a phase four stimulus to get the country out of the economic shock. I have talked to two senior officials overnight who sul suggested to me that behind the scenes at the white house, there is no planning for a phase four bill nothing whatsoever moving behind the scenes one official cautioning that no staffer can rule out plans for a phase four, implying that it will be up to the president. They are focused entirely right now on executing this phase three. This massive big that was just passed will require a lot of effort right now it is interesting you know who said they are talking about a possible next phase on the record was President Trump himself on twitter. He took to twitter to say, that this is a great time to start an Infrastructure Project to fix our roads, bridges and tunnels that could be the next stimulus we need. Is there any possibility that washington can get together in an bipartisan effort if there was a need to arise to put a massive infrastructure in play to focus for americans right now to get jobs . My understanding is that the president was sort of throwing that out there for discussion. The democrats have been talking about that a lot on capitol Hill Nancy Pelosi saying the fed chair told her now is the time to go big and think big especially with Interest Rates so low the president likes that idea. Im told there is no real planning or effort going into play for phase four because phase three was such a big push. Theyve got a lot of work to make sure the rollout of phase three goes smoothly. So, yes, definitely a bipartisan appeal but they are not quite there at the white house pointing back to the markets now on the first day of this quarter as investors hope to recover to the worse month since the recession. Hurt by three big drops. Nearly half of the dow ended down at least 10 in that trading action joining