Points. 770 is the yield on the 10year treasury right now. The yield on the 30year treasury below 1. 35 . It is now down 18 basis points at 1. 358 on the 30year. Mortgage rates are hitting record lows, how you can take advantage of this, these yields are tied to mortgages so we could see refi activity as well. Coronavirus crisis, one hundred thousand confirmed cases worldwide. That number is expected to increase. President trump says that the u. S. Economy could take a hit but says it is all going to work out and everybody should be calm. The democratic field is thinning out. Elizabeth warren the latest to drop out of the 2020 race but not making an endorsement just yet. Meanwhile this Jpmorgan Chase jamie dimon is recovering from emergency heart surgery this morning. The surgery was successful and dimon is awake and alert. Plus nashville recovery, President Trump headed to tornado ravished area today after approving disaster declaration, we will tell you there live this morning for a look at the damage and Recovery Efforts, mornings with maria is now. Maria lets check Global Markets this morning, kick it off with european markets on the heels of the selloff this morning in futures weve got european markets down sharply as the number of coronavirus cases grows and unnerves investors, ftse 100 down 200 points, thats about 3 , cac quarante down 189 points. The dicks index in germany lower by 390 points. Checking asian markets, following selloff on wall street. 2 on average depending on which market you look at. Some of the other top stories that we are watching this morning the death toll from coronavirus in the United States is rising to now 12, overall the number of cases across the world nearing one hundred thousand and in the United States maryland has confirmed the first state in the state, governor larry hogan says they contracted the virus while traveling in overseas and are in Good Condition this morning. In Washington State microsoft two employees have been diagnosed as well. President trump expected to sign 8. 3 billion funding today. Check out dramatic feel this morning, members of the California Air national bar delivering test accesses to grand princess cruiseship anchored off the coast, 3800 people stuck on ship after waiting to be tested after passenger died. Lastminute procedure was to repair an acute aortic dissection, operation was successful. Diamon check intoed the hospital early yesterday after experiencing chest pains while getting ready to work. Copresident daniel pinto are leading bank in dimons absence. Jpmorgan shares fell on news and today up 3 and a half percent. Harvey weinstein waking up in jail this morning, moved into the ricers island. He could get 20 years in prison, hes going to be sentenced next week. We will have the numbers for you and show you how it impacts markets. Expectations call for 175,000 jobs added to the economy in the month of february with Unemployment Rate holding at 3. 6 . Markets are down going into this market. As you can see we are seeing another serious selloff this morning with dow industrials down 518 points, thats up 2 right now. The dow dropping nearly 1,000 points yesterday, 969 points lower that was 3 and a half percent. Nasdaq down 279 and s p down 106. Joining the conversation this morning Stephen Moore is here or fox business Dagen Mcdowell and the wall street journal assististant Editorial Page EditorJames Freeman. We dont have clarity. Its reasonable to say that if you have the virus you dont know how bad its going to be, you know that supply chains are disrupted and Business Activity is taking a hit, makes sense that stock prices would go down. Its not forever, but it is saying Going Forward we will see some worst earnings than we expected but i would say on the Positive Side we will see how that employment report goes today. We have the Small Business jobs numbers yesterday, very good despite the virus concerns, very god hiring and wages rising in the u. S. Small Business Economy in february. Dagen you have to look at yields, dagen, Interest Rates at. 7 , quite extraordinary. Dagen overnight they fell below that. 0. 695 overnight. So this is off the lows, we are at record low yields and here is the problem, this really sticks it to savers. This excuse me my language, this screws people who are trying to avoid risk. What is going on in the credit markets broadly is a deep concern where you have billions of dollars pouring out of u. S. Corporate bond funds and loan funds. Corporate credit spreads yesterday really broke down with investment corporate and high yield really plowing out meaning that the spread between a safe treasury and a company or a Leverage Company has to pay to borrow. There needs to be liquidity. No more rate cuts but the feds Balance Sheet according to many people in the credit markets needs to start growing again. You have Mortgage Rates hit record low but if the banks arent willing to make the loans, the low rates are irrelevant. Maria Robert Kaplin said they started buying securities actually in the last couple of months and he did say that was the next bigger move as well to continue that. Dagen they need to do that but that was in reaction to the problems that we had in shortterm lending market where is the rate blow out overnight to provide liquidity but a great deal more is needed according to a lot of people who i follow and i think kaplin had kaplin signaled that the virus spread may be key to another rate cut but people in the bond market are saying we need more than a rate cut. Maria we probably need more than a rate cut, steve, what are the tools, ben bernanke came with lots of innovative ways to create stimulus. Deflation could be more brutal for an economy than inflation can, of course, thats why youre seeing these bond yield fall by so dramatically. A couple of things, by the way, the federal government should start bonds and lock Interest Rates forever because we will never see them again. Yes, the fed has to get its all about dollar liquidity at this point, maria, you have to shove dollar liquidity into the economy to get these these rates up and to get the fear of deflation out. The second point to make about this is when you look at whats really frustrating to me is you were mentioning Small Business index. The economy was sailing along. It was picking up momentum and bam, the tinny microscopic virus and i do think your colleague jenkins had it right, the fear has so how many deaths . 11. Maria the truth is that my sources are telling me we will see hundreds within the last years. The majority of people will not have severe symptoms and will not too sick and certainly wont die. Yes, many more cases but its not a death sentence. Rand paul had a really good point on fox doctor. Hes a doctor, you know, weve overestimated the death rate from the virus because we dont know how many people contracted it. Dagen you could have heard it from Maria Bartiromo earlier in the week. We talked about it on this show. One of our guests said the death rate will ultimately not 0. 1 which is the leg. Maria we didnt have the testing. We have to get to 2020. Elizabeth warren has dropped her bid for nomination making it essentially 2man fight between joe biden and Bernie Sanders. Warren spoke outside of her. Watch this. I will not be running for president in 2020 but i guaranty u will stay in the fight. One of the hardest things is all those little girls who are going to have to wait 4 more years. Maria she went onto say that she would not endorse a candidate right this minute. All the little girls, dagen. Dagen she called out sexism in politics and it was a heartfelt message. Quite frankly the party of identity politics, you lay it all on, equal important for everybody, two old dudes running for the nomination. I think that this is my opinion. Maria all the little girls. I have to stop. When was all of the little girls even an measure. This is like something totally new to me. All the little girls. Dagen her voters are Hillary Clinton voters, they are educated women, working women. Thats her voting block and thats why bernie and biden over her endorsement. I want to add this, that she i think she was caught up in her own, the rallies, people were still coming to the rallies and she never really changed her strategy all along even though shes not winning a primary and coming third in massachusetts. She came in fourth in her home state of oklahoma. Fourth behind mike bloomberg. Her problem the little girls cant vote. The serious question and big question, maria, do the warren voters go to Bernie Sanders . Its his only chance. Maria thats questionable if the warren voters go there. Jobs day in america, standing by for februarys job report. Housing market, we are looking at plummeting Mortgage Rates as treasury yields fall to record lows this morning, incredible move in rights, what does that mean for the future . 2020 mars rover getting name from unexpected source. Theres real destruction in tennessee, take a look at the pictures. President trump heads to nashville to tour the damage left behind by a series of deadly tornadoes. General jack keane joins me reacting to the situation that he has granted the countrys civilian honor by President Trump. Big congratulations to general jack keane who will be here. Plus this, bad dog, Elizabeth Warrens bailey eating his feelings and its making a buzz this morning. He took somebodys burrito. Wait till you see this. whistling whistling yes im stuck in the middle with you, no one likes to feel stuck, boxed in, or held back. Especially by Something Like your cloud. Its a problem. But the ibm cloud is different. Its the most open and secure public cloud for business. It can manage all your apps and data from anywhere. So it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. Without getting in your way. Maria welcome back, coronavirus sending shock waves throughout markets and volatility soaring over the past few weeks as you know just from this week alone up 1,000, down 1,000, futures pointing to another day of sharp losses, take a look. The nasdaq is down 249, the s p is down 80 points. This is one of the reasons is because Interest Rates yields are dropping like a rock take a look at 10year, thats down 16 basis points right now. Joining us right now federated senior equity strategist linda who thinks we may not have bottomed out just yet, linda, thanks very much for being here. Well, good morning. Maria when you say we havent bottomed out, are you talking about stocks or rates . Probably both. The bond market as you noted is at record lows now in terms of yield although around the globe 13, 14 trilliondollars of negative yielding sovereign debt, a lot more maybe the 10year bond get close to 0 and thats a reflection of the bond market saying theres a recession on the way. Maria what do you want to do in that environment, then jordanians the bond market is saying a recession on the way. We are seeing massive volatility on the bond market. Expectations that we will not have much Earnings Growth if at all in 2020, how do you invest in the scenario in. Well, do i think that even though expectations are all over the map and you really wont have a god sense until the second half of the year, looks like a throwaway year perhaps. It isnt the end of the world, makes me think why dont we hang in the u. S. For a while in terms of investments but then when we look at the stock market we are down say 10 or a bit more, 12 , now thats a variety correction. We may very well get to the next line, 27 pullback, thats a definition of bear market. Global market will go into a potentially recession, a mild one. A vshaped recovery from a much greater level. If i may beyond the fact that we should stay in the u. S. Where investment is a little gold and problem of yield, i think that your other cohost said that this is a problem for savers, takes us to highquality dividend strategy. That should really shine and pay for investors now. Great places to stay where we are right now. We were just talking about this issue about what the fed has to do in response to these falling rates and dagen and i were both agreeing that the fed has to pour liquidity maybe cutting interest on reserves and another qe, do you think that would stop, it appears that deflation is everywhere on the economy, do you think the fed should take action immediately . They did take action, the 50basis points, big events. 50basis points is common then. What they need banks to chime in with them, that might give more confidence. But what will give us confidence and two things are important to remember as we start to worry here is we see the second largest economy in the world, china, the epicenter of all this, more evidence that things are improving over there. They are getting back to work, number 1. Number 2, in the United States importantly you have never seen so much cash flow, Free Cash Flow on both consumer and businessman sheet. The consumer is Strong Enough to withstand that. I think that people think about wall street need to consider main street. Maria which is why so many on this program have been saying, hold on because when we come out of this theres so much stimulus and growth to talk about. Things will be a lot better. Maria linda, thank you, we will be right back, stay with us. Nk youre welcome. Were gonna need a bigger room. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] maria welcome back, we are looking at markets, we are seeing at another deterioration. Coronavirus worries continue to go send markets on a wild ride all week. The Federal Reserve has instituted a 50basis point cut. Futures Market Pricing in at least a quarter point cut again in the upcoming meeting on march 17 and 18. This is 60 chance according to market that is we will see another cut in rates. 10year yield is also falling below 8 tenths of a percent. First time we have seen numbers like this. 15 basis points lower on the 10year, all of this gives more options to people shopping for homes and mortgages, thats for sure. Theres a positive here with rates at the rockbottom levels and we saw refinancing activity show that earlier in the week, dagen. Dagen 7year high. Lack of liquidity among banks and rates are irrelevant if banks arent willing to write those mortgages. One issue here is still the Federal Reserve will cut Interest Rates 1 percentage point to 1 . Overnight lend asking still higher than 10year yield. That makes it impossible for broadly speaking banks to make mortgages and loans. Maria im not all doom and gloom, by the way. There are some positives. When you see the low, you saw refinancing activity. Thats good to be a positive. Incredible stimulus. We will get through the coronavirus, everybody. Yes. Maria yes, we will see a lot more cases and yes, uncertainty and maybe a tough year for earnings, on the other side what does it look like. Good economic news. I would say so far not a situation where you need Emergency Action on either the fiscal or the monetary side. Stocks are appropriately signaling concern, but we did have a lot of good news coming into this. The refinancing is up. Construction is going higher. We could have even more construction if construction firms can find the workers they need, weve got good news in last jobs report saying people are coming back into the workforce. Lets hope at 8 30 today we hear about still more people coming off the sidelines with this economy. Theres a lot of good economy news and theres concern. Appropriate concern. Maria are markets indicating a recession is on the way, steve, real quick. I disagree a little bit with james. I do think you need monetary infusion of dollar liquidity immediately, immediately. I would say this that if you look at the past viruses the pattern crash on the market as soon as the virus was contained the market went right back. Maria we will take a quick break. Dagen sars didnt maria serious destruction in tennessee, steve moore, we will be taking a look at the president tours the damage left behind of series of tornadoes maria welcome back. Good friday morning. It is jobs friday march sixth, top stories 6 30 a. M. On the button ahead of jobs report this morning we have a market thats selling off once again. We are expecting a tripledigit decline at start of trading with dow jones down 600 points, nasdaq down 250. S p 500 down 78. Dow, nasdaq and s p up 2 to 3 for the week, of course, before todays selloff this morning. Losses of 3 yesterday, the do