Points. As the pathogen makes its first appearance in new multiple countries and at this hour, on the canary islands, where 1,000 people are on lockdown at a luxury hotel, the centers for Disease Control saying an outbreak of the deadly virus in america is now quote, inevitable. Health and Human Services secretary alex azar warning we do not have enough masks and ventilators to handle an outbreak. Coming up, medical experts and reporters are at the ready to handle every breaking angle. The surprise chinese stock thats spiking right now, the two u. S. Banks telling their employees to stay away from italy, and talk that the olympics could be canceled. Less than an hour to the closing bell in this final hour. Lets start the claman countdown. Liz we have this breaking news thats not getting enough attention. We are going to give it attention. Even as u. S. Airlines shut down service to china, look at the dow jones transportation average which includes airlines, railroads from norfolk and Kansas City Southern to Delivery Companies like fed ex and ups. It is taking the biggest hit of all the major indexes. Facing their first backtoback 3 declines in nearly four years. The transports down 3. 33 , 10,158. We are keeping an eye on that very important to see what those names are doing. We should tell you we are minutes away from a health and Human ServicesNews Conference where the administrations response to the spread of the deadly coronavirus known as covid19 will be outlined. You can see our cameras are right there. We will take you straight to washington, d. C. When it begins because there may be some new announcements, new information. Clearly there is a direct implication between whats happening with that virus and what you see on your screen with the dow down 704 points. For the moment, fallout from the coronavirus keeps pouring in. United airlines and mastercard now saying the virus will negatively impact their financial numbers this year. Folks, very important that the stocks you own fess up when there is going to be a material effect on earnings or their numbers. Ual is down 5. 5 . Mastercard down 6 . Add this to the story about mastercard. The ceo is stepping down next year. Macys, lets get to that, says it is seeing a slowdown in sales, albeit a slight one, as the u. S. Draws fewer asian tourists. Macys stock was already down 31 year over year but for todays opening bell, it is down another near 5 at the moment. What might get the tourists back . Call it a vaccine. Moderna is popping as it releases the first batch of its Coronavirus Vaccine for human use. You can see its jumping 33 right now. This is a 24. 86 stock at the moment. U. S. Officials announced Gilead Sciences antiviral drug is now being tested on patients. The first participant is an american who was repatriated after being quarantined on that diamond princess cruise ship. We are looking at gilead down 4. 25 . Heres a name rallying with no tie to the virus. Regeneron, hitting a multiyear high, after it was up graded. Its eye treatment to make greater market share versus novartis. We are down 721 points. The breaking news we are getting is that the first confirmed case of coronavirus found in southern german state of baden, the Regional Government statement is saying the markets as we look at this have a patient who is 25 years old. He is in an isolated hospital with flulike symptoms. Lets go to alex azar in washington, d. C. , the health and Human Services secretary. Update on the actions that president Trumps Administration is taking to respond to the outbreak and keep americans safe. Im joined today by dr. Ann shooken, the Principal Deputy director of the centers for Disease Control and prevention in atlanta. Dr. Tony fauci of the National Institute of allergy and infectious disease. Dr. Robert kaplick, hhs assistant secretary for preparedness and response and dr. Stephen hahn, commissioner of food and drugs. As of this morning, we still have only 14 cases of the china coronavirus detected here in the United States. Involving travel to china or close contacts with those travelers. We have three cases among americans repatriated from wuhan and we have 40 cases among american passengers repatriated from the diamond princess in japan. I want to thank the responders and communities that have worked with hhs and the administration to provide these americans with the treatment they need. Im also grateful to the governors and other state and local leaders who have worked with us in close part nership s far. The immediate risk to the general American Public remains low, but as we have warned, that has the potential to change quickly. There is now Community Transmission in a number of countries, including outside of asia. Thats deeply concerning and Community Spread in other countries will make successful containment at our borders harder and harder. Thats why we have already been working closely with state, local and private sector partners to prepare for mitigating the viruss potential spread in the United States, because we will likely see more cases here as we have said throughout this episode. The doctor will provide more details on what that will look like, including how we would treat potential cases that arise from Community Transmission here in the United States. This preparation has been possible in part because of how aggressively President Trump has responded to this outbreak. As soon as we knew of the threat presented by this novel virus, Public Health leaders were monitoring it and beginning to prepare. The travel restrictions that the president put in place at the beginning of this month have given our country valuable time to continue to prepare, and that is precisely what those measures were designed to do. That includes working with congress. Yesterday, the white house sent a request to congress to make at least 2. 5 billion in funding available for preparedness and response. There are five major priorities within the supplemental request which i underscored this morning before the Senate Appropriations committee. First, we need to expand our surveillance work, building on an existing system we have within cdcs influenza surveillance network. Second, we will need funds to support Public Health preparedness and response for state and local governments for what could be a very large scale response. We dont know, but we must prepare for that just in case. This support complements the significant funds that these partners have received from cdc for preparedness. About twothirds of a billion dollars a year in recent years. Third and fourth, we need to support the development of therapeutics and the development of vaccines. Given the scale of this outbreak, the private sector sees a real market for both kinds of countermeasures as well as for diagnostics, but federal funding and guidance can accelerate this work. Dr. Fauci will address the current status of that work in more depth. Fifth and finally, we need funds for the purchase of personal protective equipment for these Strategic National stockpile, the topic we will address. I will conclude by noting that those scheduling conflicts prevented this briefing from including other members of the president s Coronavirus Task force, we will be providing a new update from interagency leaders soon and continue to keep doing so regularly. Earlier this afternoon on cnbc, the National EconomicCouncil Director larry kudlow offered an update on how we see this outbreak affecting the economy. This morning, cdc provided the usual telebriefing. As will be emphasized in just a moment, the Trump Administration will continue to be aggressively transparent as the outbreak and our response evolve. We will continue keeping the American People and the media apprised of the situation as well as what everyone can do to prepare. In the meantime, i will continue to work closely with President Trump and the president s task force on our preparations to keep americans safe. With that, i will hand things over for an update from the cdc. Doctor . Liz alex azar, the head of health and Human Services, now saying quote, it is deeply concerning to see new cases outside asia. Folks, hes specifically talking about italy and iran and now we have cases in afghanistan and bahrain. There are a whole bunch of names out there including the canary islands. Let me get to edward lawrence, who was earlier in the room when the health and Human Services secretary spoke to congress, and he was asking for money, was he not . You just heard he says we need money to prepare this nation for what italy and the other parts of the country and the world are facing. Reporter and vital, one of those five things he just mentioned there, talking about the stockpiling of medical equipment that we need, he said, testifying today, theres 30 million of those respiratory masks for medical professionals. We need 100 times that for medical professionals to be able to handle what potentially could come to the United States if the coronavirus spread. He testified this morning that the u. S. , that hes very concerned about that sustained humantohuman transfer of the virus, specifically in italy and iran, and how sustained that is going forward, especially when they dont know exactly where those people got it from originally. Now, he defended in front of the committee the 2. 5 billion the administration wants. Lawmakers were thinking that possibly it should be more. In fact, senator Richard Shelby saying thats a lowball figure. Senator Chuck Schumer saying it should be more than 3 billion and none of that money diverted, 3 billion extra to try and tackle this issue. Secretary azar, though, did tell the senators that he thought this was enough. Listen. Steps that the president has taken are the most aggressive containment measures ever in history in terms of travel restrictions at our borders, funneling passengers, restricting foreigners from coming into our country if they have been in china. Travel restrictions and advisories to countries, in addition to of course the solid state and local Public Health response which actually identified all but one of the 14 cases here in the United States. Reporter making the point they are doing a good job at trying to check on where this is coming from and trying to contain it coming in. Now, of the money, 1. 2 billion will be for research and development of a vaccine. Specifically, he talked about moderna, a company that has an experimental vaccine. He didnt name it by name, but he said the u. S. Company has submitted that vaccine to the nih. Nih will then have a candidate which they have selected and over the next three months or so, work on that vaccine there. You can see their stock price actually up today because of this boost. Again, the secretary believing that there could be a vaccine approved within a year but again, thats a year and the cdc as you know, telling the americans to brace for a potential outbreak here in the United States. Back to you. Liz edward, thank you very much. Edward was just mentioning that alex azar said we have 30 million face masks, we need 300 million face masks. Here are the names. Mche cakehe cans mckesson, honeywell, these names are down. Could it be because we dont have the possibility to ramp up quickly enough . 3m down, honeywell lower as well as mckesson. As we watch the markets, we are only slightly off where we were at the top of the show. We do have the Dow Jones Industrials down 759. No real hopeful bounce that anybody was kind of hoping for, if you are bullish on these markets. The dows total losses are now at about 1700 points over just the last two days. This as the global Coronavirus Crisis instills fear into investors. We can flip it over and show where that is most prominent. That would be the tenyear treasury yield, touching an alltime low this afternoon. Tenyear yield at the moment, i can pull this up because it is important to be able to show this to you folks, we do have it at 1. 328 . I believe that earlier, Im Old School here so im using handwritten notes because i have a whole system, 1. 31 earlier so we are barely off that. This afternoon, we are looking at spanish, italian, United Kingdom and even greek tenyear yields below 1 . We know that yesterday, the entire yield curve for german bond land, especially the tenyear bund, turned negative with the tenyear at negative. 5 . Folks, that means that people would rather lose money and park it with the government than have it out there in stocks. Once considered quite a safe haven, lets look at bitcoin. It is sinking right along with equities for a second day. Bitcoin tumbling 265 points 265 bucks at the moment, at 9,361 at the moment. Just a week ago, the cryptocurrency topped 10,300. Now we are below 10,000 by a significant long shot here. Another flight to safety play, lets look at gold. The yellow metal oddly giving up yesterdays gains and its sevenyear high. This is apparent profit taking. We are down 1. 5 or 26 bucks. We are at 1,654 a troy ounce which is basically about an ounce. Gold is slumping and falling further in after the markets started to tumble and it almost looks like as byron wien said yesterday, very few places to hide at the moment. Certainly not oil. You cant find it in oil. No type of little cave you can hide in at the moment. Oil once again slumping another 3 in the aftermarket session. It closed down 2. 97 earlier. Below 50 per barrel. We are at 49. 85. Oil is extending its losses. We are also looking at brent. I want to mention that because thats the global metric that people look at. Its what trades overseas. Its down 2. 7 at 54. 74 for brent. I want to bring in our traders for the floor show. There seemed to be some hope earlier this morning and im talking at the markets open where the dow was up nearly 200 points before collapsing. What do investors do from here . Even as the safe haven plays are falling, are we hitting the floor or should investors brace for more tumultuous days ahead . The uncertainty thats out there and remains out there, is going to force investors to stay away from this market. Yes, buy on the dips but you wont be able to find a dip at any point now. When you have the cdc coming out saying that the infiltration of coronavirus in the u. S. Is highly likely, thats something thats very scary. The markets going to react to that. We are seeing that now. Right now, investors, traders, longterm investors, are very very concerned about what the Ripple Effect of this can be. We dont have enough information. Theres not enough transparency and the fact that this keeps snowballing is whats causing a lot of fear here. Anywhere that there is a safe haven, you are talking about bitcoin, gold, its not a trade at this point right now. We need to kind of wait this thing out and see where we are going to go. We are down 8 off the highs. There is some more momentum thats going to be here. This will flush out. Once we start getting some positive headlines, i dont know what those will be or when, but they are going to have to be something around about how we are containing this virus and the vaccinations that are available to the globe. Liz well, would you take this as good news, scott, im just not so sure the cdc is now saying it believes the immediate risk from coronavirus in the United States remains low. Are you buying that . We now have, lets see, 57 cases. 14 cases here in the u. S. , 40 cases here in the u. S. That were repatriated from the diamond princess cruise which of course the Parent Company is ccl, three cases of people who had come from wuhan. So the immediate risk, yes, i agree with that, but three weeks ago, the immediate risk to italy and to all these other countries that are being infected also was probably minimal, extremely, extremely low. This is hitting me personally firsthand because i have a son who is studying abroad in florence right now. Now, he happens to be in switzerland right now but he cant get back to florence. So what is he going to do right now . Hes seeing everything thats happening in europe. I dont want to be a doomsday, you know, prognosticator here, im not whatsoever, but this is real. This is absolutely real. And john said it best. Until we stop seeing this Snowball Effect of what is happening here, the market is going to be in panic mode. Volatility will stay this way. We have not seen a flushout yet. The last three major selloffs of almost 10 , vix has traded over 30. Now, it did touch 30 today and unbelievably, it touched 30 and thats when we bounced 300 points. We are selling off again here but that is certainly a level to watch for. Liz you said we have not seen a flushout just yet. We are now down 800 points for the Dow Jones Industrials, heading back down. Im not going to say session lows, we dont know, but the session low, a loss of 929 points so far. Dow jones industrials changing as we speak. Down 810. I would just like to let our viewers know once again, we have b