Became ill. More than 200 people are being monitored in massachusetts, but nassau county, new york, gotten the allclear. That news sent market down yesterday. Country after country report new cases. Infected number of people is 82,000. The latest today being denmark. The world seems stunned, really, really about this and how to contain all of it. Saud sued cutting access to holy sites. Japan closing schools nationwide for a month. Airports in latin america screening passengers. Now while epicenter has become italy, because number of cases surpassed 600 and seem somewhat to be out of control. Were all over the markets, giving you advice and markets to navigate the selloff. Lead us off payne capital, courtney dominguez, a Organization Im not associated with. David dietze and money maps keith fitzgerald. Keith, you have been one of the cautious or most cautious analysts on television the last three or four weeks. You were anxious about Something Like this possibly happening. How do you feel now . Well, ill tell you what, charles, this business is a tough business because you want to be right most of the time. Unfortunately this one of those instances i was hoping to be wrong. My angst is not letting up. The potential is far worse than i think leaders are making it out. Cdc is correct, the horse is out of the barn. That being said, investment standpoint always hard to be positive and you have to play offense on days like think, what are you worried about, keith . Some people are making observation, looking at mortality rate, our Health Care System in this country, juxtapose that against shutting a down a country . In other words the measures that we take will have much more deeper Economic Impact than anything the virus might have done otherwise . Well you know, this is very much the same question about, do you pick green bananas charles . Do you want to pick them before theyre ripe or after theyre ripe . The situation is this, there is no way to win. What i look at from investment perspective is the cost of all this. Whether this is fear, hype, overdone or not, potentially there will be significant interruptions in the supply chains, manufacturing and Consumer Behavior is what i most worry about. If people are restricted to homes or like they shutdown a high school in washington that is very real despite what the sentiment is about this being flu or not. Neil david, you have seen the market tested even more so than this at least so far. Youre thinking about why this is different than some of the more recent challenges weve had. Im not sure it is different. I tell my clients the market is always come back after every casualty. For example, 9 11, so forth has come back. I looked at all the health scarce going back 30 years, typically the market is up 10 after the first onset. Lets not forget all the Silver Linings to this. People can borrow money for a home, start a business, refi, lowest rates in history. Go for automobile trip, you have cheap gas. Ultimately the time to roll up your sleeves, get back to asset allocation. You will be rewarded. Neil courtney, last time you were here you were upbeat about this, transitory essentially what david is saying but the transitory period is hell. It is not easy. Charles it is not easy period particularly for people who havent been through the ups and downs. Weve had a 10year economic expansion. Even though, even last year we had two periods where the market pulled back 5 . On average you get 3 00 of those every year. A lot of people taken it for granted that the market goes essentially straight up. First of all are you still as optimistic as you were, and what do you say to people this is not worth it . I am optimistic. That is something were talking to a lot of our clients right now because when you look at the virus the consensus is, yes this will have Economic Impact. This is measured in weeks and quarters, were not talking about years or decade. If youre a long Term Investor yes, the markets are getting hit hard but it is a wonderful buying opportunity so it is a great time do i have any in cash or bonds . Can i take advantage of this. That is the conversation were trying to have. Charles keith, one of the big news items was major analyst over at Goldman Sachs came out with some thoughts on this and one of them was perhaps, there is no Earnings Growth. One was perhaps Earnings Growth goes down and now were starting to hear the r word out there, recession being spoken. Is it too early to make such assumptions . Because people are going to have to make major decisions what to do with their portfolios based on these assumptions. I think they will have to make major decisions. To david and courtneys point something you and i talk about a lot, if youre optimistic, have the right perspective, history lets these events come and go with alarming regularity. The only question is what you do in the meantime. If youre focused on ceos, Great Companies that will move through this then as an investor i would submit youre probably in the right place at the right time. Roll up your sleeves, jump in, whatever metaphor you want to use and go swimming anyway. Buy low, sell high. My son in kyoto right now. I wonder if theyre going back here. Charles sorry to hear that. I will touch in base with you to doublecheck on that. What are the signs that you may need that the, bottom, even if it is shortterm bottom put in. We made a remarkable bounce today. Were able to get 800 points back. Almost 800 points back. Now were pulling back again. Is there something we need to see one day in the market down big. It closes strong or numbers start to decline, perhaps in a place like italy and south korea which seem to be the new epicenters moving the needle . Two aspects to that. In terms of fundamentals, when you see the rate of infection, headlines still bleak but rate of infection starting to go down, from a fundamental perspective. That is a good sign. From an investment perspective, when you see utter panic, when weapon saw the vix shoot into the 30s, bottom fell out of the market we were getting so many calls and so forth, that could be a sign that a bottom is close but i with urge everyone out there to try to call a bottom in real time. We only see it in hindsight. Charles when do you think the coast is clear, courtney . I have to agree with that. What is really interesting, china was holding up a lot better than other parts of the world, which is fascinating they got hit so hard. Prices are going down so much and people will scoop back n that will be positive. Charles people buying alibaba and so forth. We have to leave it there. Courtey, keith, david. I want to find out what traders are saying on the floor of the new york stock exchange. Deirdre bolton joins us. I can imagine there are a lot of different thoughts out there on this . Reporter of course, charles, one of the comments coming from this, the selling is for real. You hear that from professionals in this situation day in, day out. The lack of visibility on the Positive Side is not giving anybody any reason to limit some of the downside losses. If you look at the dow down 680 points. I will highlight the low of the session was more than 900 points down. If you look at the dow, i will point out three highlight, merck, we know has a strong track record developing vaccines merck is limiting some of the overall losses an pfizer as well although just turning negative as i speak there. 3m has a few companies that make masks. Weve been talking about that throughout the morning, charles. What i say, this week is still the worst week for the dow since 2018. So many people saying listen, if you look at fed funds futures and market is pricing in three cuts, count them, charles, bip september, that seems extraordinarily hopeful from the point of view of some investors right now. Look at two tech stocks that weigh on the average, bring it down, microsoft and apple. Both Companies Moving down on the idea they are directly affected by the coronavirus. Microsoft gets more than 10 much its revenue from china and we have apple getting more than 1 , charles. Charles yeah, supply chains of both companies, microsoft last night. Anyone down there talking about buying right now, deirdre . Well, theyre not talking necessarily about buying other than what weve heard, hey, pick names, old peter lynch model. Pick what you know, pick what you like and begin to come in very, very specifically. As far as general buying i dont see anybody putting in General Program trades right now. Too much uncertainty from what im hearing here. Youve been covering this too, charles. There are Numerous Companies canceling events meant to be revenue drivers for them. Facebook one, microsoft another. So i think a lot on the sidelines. What i will say some people ive been seeing, they have been busier here with sell orders just today than they have been over a period of a few months, charles. Charles last hour should be a exciting. Im pretty sure a lot of contrarians down there might be licking their chops. Deirdre, thanks very much, appreciate it. Speaking of apple ceo tim cook weighing in on the virus exclusively to fox business. Despite the virus cook is optimistic. Seems like to me, china is getting the virus under control. If you look at the numbers, they are coming down day by day, by day. Im very optimistic there. On supplier side. Our phones are built everywhere in the world. We have key components in the United States, with key parts in china and so on, so forth. When you look at parts done in china, we have reopened factories. So the factories were able to work through the conditions to reopen. Theyre reopening, theyre also in ramp. I think this is sort of the third phase getting back to normal and were in phase three of the ramp mode. Charles you can catch the full interview tomorrow at 12 and 3 00 p. M. Eastern right here on fox business. Of course were staying up on this volatile market throughout the hour, including what this means for the consumer psyche. Speaking of the consumer, how amazon is fighting price gouging on face masks later in the show. First a doctor shares how she and her colleagues are combating panic as the first case of coronavirus with unknown origins hits the United States. It is Important Information to help keep yourself and your family safer. Well be right back. Youve been hearing a lot about 5g. But theres 5g. And then theres verizon 5g. Were building the most powerful 5g experience for america. 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[ barking ] charles stocks sharply lower once again today, extending one of the most difficult weeks ever for the market. Major indices in correction territory. Certainly at the start of trading, we got out of it. Now were back there again. Some buyers materialized but not at the moment. The panic is spreading faster than the virus at this point as governments, doctors scrambling for solutions. I want to bring in dr. Jen caudill with us. Things for having me. Charles the news today, potentially a patient in california, no known travel to china, no known at least exposure persontoperson. Right. Charles there will be a press conference out of california to update us on that but how much of a gamechanger will this be . This is a gamechanger. The cdc is saying get prepare for possibility of this. We dont know if it is the first case of community spread. We have to look into the case. There is lot of work to be done. Theyre looking into the patient. If this patient didnt travel to china or place with coronavirus or not in contact with someone with coronavirus how did this come . Were looking possibly community spread. That is a game changer. Could be other potential people out in the community spreading it unknowing as well. Charles earlier today dr. Azar said there will be a new testing kid available. Yeah, yeah. Charles i think that is great news but also probably means well get more headlines of folks who have been diagnosed with this. We want that, right . We want the bets sort of are all hospitals in this country even equipped with the right kind of testing equipment . Well, right. The answer is not entirely right now. Testing is going through with the cdc. There are hiccups with the testing equipment. Theyre trying to make sure the test is accurate. We do not need a test on the market that is not accurate causing more problems. To your point we want to know, how people are spreading this. This is Novel Coronavirus because it is new. Every day we wake up to new headlines and sort of excitement, intrigue, in many ways we dont know much about it because it is brand new. Charles there has been a lot of panic, videos, things said and a lot of speculation. Thats right. Charles does it travel up the pipes in my Apartment Building . I saw one of your videos, can i get it from a package from china . Yeah. Charles what about that . How long does it live on the surface . What kind of risk does it pose . Thats a great question. First of all we think it want live on surfaces for a bit, maybe some hours. Maybe, because we still dont know entirely. Idea, use us as example. If one of us had coronavirus and smeared our hand over here. If you touch the surface right after me or vice versa, likelihood yes, you could be possibly become infected with it. However the idea of packages traveling overseas, were talking about differences in temperatures, numerous hands touching the boxes, all sorts of things, it is just not that robuster. It is not going to survive from china to here. I always tell people, this is what the cdc says, dont worry about buying packages overseas. We think that is very minimal risk. Same thing with pets or dogs or pets can transsubmit it. We dontly that is likely as well. Charles we have only a mitt. I saw a headline we talked about the woman with community spread, potentially a community spread, now a headline, dozen of staffers at hospital that monitored, are being monitored themselves. Right. Charles in your profession, how are doctors and nurses going about their job right now . So you know, i think i can speak for my colleagues when i say this, one of our best friend is data and information and one of the best things that is happening right now is that the cdc and World Health Organization are laying out plans for us left and right. When they say lets get prepared, this is not just fluff talk this is saying hey, were telling you, we think this is coming. So lets get ahead of it. Think about what you need to do. To that regard, is it a little frightening or scary, that is natural response. We have protocols in place to deal with situations like this. This is our job. So. Charles thank you very much. Of course. Charles it is your job and you do it very well, we appreciate it. Microsoft warning sparking major headlines after the bell. Come why investors have to make critical decisions but we can lose the confidence of the American Consumer. That is essential. Were talking about animal spirits when we come back. Mont. And get your Interest Rate right so you can save big. Get a nofee personal loan up to 100k. Get a nofee personal loan theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Charles microsoft warning its personal computing business which include windows installation, laptops an tablets will be below Prior Guidance because manufacturing is coming back online and china is slower than anticipated. Now the warning is similar one issued by apple last week. This is important as investors look over their portfolios and make difficult decisions. There is a distinct difference between demand and supply shocks. The latter is hurting Technology Stocks while the former hurting businesses involved in large public gatherings, particularly in confined spaces. These things generally work themselves out. Investors can make adjustments. Meanwhile a greater risk is a loss in confidence by the American Consumer because that would impact demand for everything. Confidence levels are high but that can change which makes the next several weeks extremely important. There have been signs that the u. S. Economy was reigniting, actually picking up more steam. The evidence in recent housing, manufacturing data. This mornings surprise increase in business durable goods orders for january. Earnings correlate with consumers is much better than expected. Now that momentum is being interrupted. How long the interruption depends on the Public Perception how well the coronavirus is being handled. It depends on the stock market which play as pivotal role in consumer psyche, you know that whole wealth effect thing. This means jay powell faces a predictment. Sometimes his job goes beyond employment and inflation. He can maintain main streets animal spirits by placating wall street. This is where the fed booster shot may make a big difference even if it is not part of their socalled mandate. Right now i think the market is way oversold. You know i have always said it doesnt matter, when it is oversold it can still go lower. Und