Point drop for the dow, biggest point draw for s p 500, they are in correct territoryy, off 10 from the most recent high. Traders tell me, there is no good news to have made this market pivot, there is nothing about vaccines that is conclusive, if you look at the dow, biggest, microsoft, and intel and you had apple. Apple and microsoft, saying they will be affected, their sales this quarter by the coronavirus. Microsoft gets 10 of its revenue from china and apple 17 , one bright spot on the dow, only stock higher today, 3m, they make face masks, they are telling we hear selling we hear on a dre market, boxes going for dollars 500, a company saying it reported 14 Million Dollars in sales, normally a box of masks should cost between 3 to 5 dollars. And if you look at groups on s p 500, all 11 closed lower, not one bright spot there. And a backdrop. 3 companies, canceledb biggest events ofs year, microsoft, facebook, epic games. They were supposed to have huge events in spring either in San Francisco or san jose they are canceling out of caution, as we know knock on affect will hurt hotels and restaurants and other local businesses. Ill tell you clorox did close at a 52week high, under category of people wants to disinfect whatever is around them, clorox wipes a frequent sight here at new york stock exchange. We have plenty here. Thank you. Now lets go to cme in chicago, jeff not just the stocks what is going on with oil. Futures here, and oil down 47. 09. And in after hours we lost 75 cents, crude down, demand for jet fuel down 8 . And tanker orders the ships that move the oil, those orders down 80 , a lot of people go to gold, today not so much, flat. Where did they go . To u. S. Treasuries, that forced yield 10 year stres treasury. Fed fund futures predict a 50 chance that fed will cut at next meeting. Terry duffy head of the cme, telling fox business he thinks that is a good idea, keep your powder dry and ammunition ready. David encouraging that people care more about the dollar than gold at this time. Jeff thank you. Bringing in our panel, jonathan hoenig, Kristina Partsinevelos, liz peek. And andy puzder. Looking at headlines out, former fed head janet yellen saying we could be thrown into a recession, when you read beyond headlines you, you go to stories most refer to worse case scenarios, apple ceo tim cook telling our susan lee, that things in china are improving. It feels too me that china is getting the coronavirus under control, you look at numbers they come down daybyday, i want optimistic there. On i supplier side, we have suppliers, we have key components from u. S. , and china and so on, you look at part done in china, we have reopened factories, so factories were able to work through the conditions to reopen, they are i think this is third phase of getting back to normal. And were in phase 3 of the wrap mode. David andy, is the fear of the virus moving markets more than actual impact, at least until this point. I think it is. I think the market is over reacting, there are other things factoring in, the market was over priced. And people in wall street in particular were hoping bloomberg or biden would temper the extremist end of democratic party, that is not happening, so coronavirus on top of that drove the market down. But like you know yellen did say there were risks, but she said, they look pretty good. You have to read the whole story. You have to read the whole story, United States were in good shape. I agree and market did over react. I think this is a day you call a capitulation. You have one day where everyone throws everything overboard and panics that is what i think we saw this afternoon, that does not mean it is at an end, we know there will be further outbreak in u. S. And europe. But that tim cook interview was fantastic in china it is getting better, this was the origin of this. It will roll through the other economies, and will get better there too. Well get better, but in the meantime, you cant discount the massive carnage in stocks, 18 of stocks above 50 day moving average, and you have yield and oil collapses, macro picture is ugly. It is, with how fast the correction has occurred. I think to your point, were relatively complie complacent. With two different stories coming from the bond market. And so this almost like the needed correction weve been waiting for, because the bull market has been going on for so long, and to answer the first question about whether were just fueling this fear, when you see headlines constantly, they selloff. Problem is that speculation that is what markets are, they are a reflection of market sentiment. And always moving back and forth. I would go back to what you said about economy of world slowing down, opposite was true we saw a hook up in pmi s in europe, china and here it was getting steam in the global economy, but this came at the worse time. It has undermined that. Find to say, terrible, but, what are investors supposed to do now . I would not chase the market down. I think everyone should have a wish list, you should say okay apple a Great Company ever. And yes, it got very expensive up 28 last year 58 last year, now i want to buy what is the price. David i want to ask what people particularly in retail and andy, you are perfect guest, restaurants at heart of this, lets take restaurant industry, if people do hunker down, they dont go out as much as they used to because they are afraid of the virus. One thing, restaurants are particularly at risk, you might wait 6 months and buy a car, but if you dont go to a restaurant in february, you are not going twice in march to make up for it when restaurants lose business, they lose business. Second aspect, i think that restaurants in so much better shape to deal with this than 4 years, only dominoes and pizza hut would have benefited from this people now everyone delivers. I get burgers, on uber eats, you have probably two Delivery Services to most restaurants, i think restaurants will lose business because of this, if it is more prevalent in u. S. , but they will lose less because of the rise of delivery. They are at ground zero it of carnage at wall street. Restaurants, cruise lines, airlines, hotels. Reminds me of something not unlike after 9 11, a cocooning with people saying home, and a lot of meetings canceled by big corporation. David i talked with a couple people in retail today, they said good thing is happened after christmas and post Christmas Season sthsm a slow this a slow period for them. This has been ex pass per rated you can add beyond meat as well. I have been promoting it all day, nap, those stocks that would do well should you stay home, netflix, amazon and pal peh. A lot of people made mise of buying zoom. You saw stock skyrocket over a mistake. David you can catch susa susans full interview with tim cook, tomorrow 12 00, and 3 p. M. Eastern time on fox business. David Trump Administration trying on ease coronavirus fears, secretary azar testifying today, congressman, dr. Glad wenstrup was there and he will be joining us next with what you needs, to know. And gain new perspectives. Thats why we go beyond the numbers. T. Rowe price. Invest with confidence. Thats why we go beyond the numbers. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. 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A article came out in New York Times and washington post, they talk about a federal whistleblower. Your reaction to this. From article federal Health Employees interaccounted with americans quarantined for possible exposure to coronavirus without proper medical training or protective gear and then scattered into the general population. Can you tell us more. I hear it just as you are, that something to take seriously and look into. Into. I will say with personal protective equipment, that is a concern Going Forward do we have enough supply to make sure we can be as cautious as we can, those that you suspect to be infected or are infected it is more imperative if you have just one mask, they wear the mask. And because the spread we understand or seem to believe it is through droplets, sneezing and coughing. Well have to look into that. And well see what case may be, i will say secretary azar was very fair and forthright with what he had to say, they are challenging to the medical community, there is no doubt, this is a new virus, viruses can be strong. And very often it takes time to come up with a vaccine, but also antivirals, the numbers are going down in china, they just tested an antiviral. Congressman, Kristina Partsinevelos here, you mentioned masks and how important they are and trending of people with beards and facial hair is appropriate, but what the point they are sold out, florida nothing, nothing in new york, amazon has to send a letter of warning to sellers to not increase prices, is there anything administration should doe to make sure everyone has access to basic mask . One thing that i think that administration should do, something this administration has been doing, bringing more production back into the United States of america, especially when it involves, i consider health you know part of our defense apparatus in america. If were not producing masks in u. S. , we lying o and relyingn foreign entity, we have debates in congress on who makes Running Shoes for our troops and they should be made in america, we have to look at all of these and make sure we can take care of ourselves. Thank you congressman for joining us, there has been a politicalization of this entire episode and amount of money that administration is requesting do you have a view, are they on the right track . Is schumer right . What is your view on what you have seen. I dont think that anyone can sit here say what is the exact amount needed, but that does not mean we cant go back to the well and try to get funding if we need it. As far as politicalization this because bother me, this is a american, human situation, this is all of us, that virus is not least bitten ti intimidated y political talk. It does no good. Our military has done a good job in korea that is something to look at. When you talk about military, have you a captive caus audienc, your potential victims are people in uniform. We have one soldier in korea, but tough part is translating that to u. S. Of america. David congressman, politicalization of the virus, if you dont mind. Let me play the press conference from nancy pelosi. United States Government must address the spread of this deadly coronavirus in a smart, strategic and serious way. We must stand ready to work in a bipartisan fashion in congress with the administration. This not a time for namecalling. Or playing politics. The Trump Administration has chaotic response. To the outbreak. President cannot transports for the newfounds to anything funds to anything other than use of coronavirus threat. David she said it is not a time for namecalling then she says that donald trump is incompetent and chaotic. It took about two seconds for that transition, that is striking. And certainly self defeating of her own point. This is the same cdc we had under boj. Obama administration, these agency hopefully we can trust, the cdc, the fda, hhs, they are all working to protect american lives and improve american lives, keep us safe and treat those who need care, and limit the spread of this problem. There should no way that anyone of people in this entities want to make politics out of this. They want to make sure that america is safe. And you know, you were talking too about stock market and this and that, i think that is normal, stock market always reacts, whether a earthquake or tornado, were tough be we bounce back and i think we do. I we will, and were seeing positive signs from china. David all right. Thank you congressman wenstrup come back. You bet. Trump administration making changes that how some people access Social Security benefits, details on who this affects most, coming next. You wouldnt accept an incomplete job from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Like a hybrid with best in class epa estimated range of more than five hundred eighty two miles. And ford copilot 360 technology to help you outsmart some of the things youll encounter on the road. With more available second row leg room than a chevy suburban. This is the completely reimagined, street smart 2020 ford escape. This is the completely reimagined, street smart can we go get some ice cream . Alright, we gotta stop here first. 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Com moving to get started. Next. David major market prove, coronavirus concerns spread on wall street. Dow down more than 3200 just this week. And Trump Administration is trying to save tax payers money with a new rule that tightening rules for Social Security disability benefits, moves to reduce ram rampant fraud began n Obama Administration but has been accelerating under President Trump. Making it more difficult for those who dont speak english to get disability checks. Democrat are slamming that decision, warning it would limit aid to estimated 10,000 people a year, with severe disabilities, this Disability Fund has been fraught with fraud and waste for decades. Tom coburns office did a huge revelation about disability program, 60 minutes picked it up, it is outrageous how many people on disability, but this has nothing to do with that, this taking 40yearold rule, saying if you dont speak english, that a cause for disability. That is ridiculous that not a reason to get disability because they can go to work. That is the point. This proposal of made in 2015 under obama, democrats just resist everything that makes sense because it is from the trump white house. 9. 9 million across u. S. 8. 4 actually disabled, the check they would receive 1200, this something substantial, i agree it needs to be updated, it will even pass right now, it is an election year. I think that rule can be changed. Just remove the English Speaking part. Yeah. Or total no the changes rule on english. If people have severe disability, wha difference doess make, there are places you cant get a job unless you can speak spanish, this is an old rule, never made sense, and comment that people with severe disability will lose their benefits is ridiculous. I am against auto called safety net all of the socalled safety nets, but this notion, you should get a benefit as an advantage if you dont speak english, that is a incentive to not speak english. So, look. If i said all these programs should be cut but they are doing right thing. David it could save tax payers 3 billion som. I think they are focusing too s