But did bern knee pull biden too far to the left . Well react. It is monday march 16th. Fbn am starts right now. Cheryl here we go, welcome to fbn am and good morning everyone. Im cheryl casone. Lauren good morning to you at home youre like lie watch withing from home not the gym not work this morning thank you for joining us im lauren simonetti. Cheryl lets take a look after feds dramatic move late yesterday. They cut rates, and they agreed to 700 billion in bonds purchases e mostly treasure reis. Some of those mortgage back securities were limitedded down overnooght for the s p and nasdaq right now dow down and s p down 128 and half nasdaq is is down 3. 59. 75 and cannot go below 5 and remember, though, folks dow had biggest one day surge since 2008. This is volatility. Lauren take a look at the ten year treasury how pan pick investors are really down, 7 . Cheryl on fed moves we saw oil go briefly below 30 a barrel overnite right now were at 30. 10. But thats selloff 5 for oil this is the economic had story, is there a global recession on horizon . Gold that safety play, were actually seeing a bump in gold this morning up a quarter of a percent. Lauren stocks in asia dramatically lower overnight sea of red. Hang seng and worst perform or down and shanghai down 3. 5 a slew of chinese data retail sales down 20 production and special production down 13 , and now as there are more worldwide cases of coronavirus outside of china, that data in china shows us what we could be facing. Cheryl continent further into lock down there more than a thousand deaths now confirmed in italy. The second highest number of cases in the world. Were seeing pressure on the dax right now that market is down 7. 56 and cac 40 down 8. 5 and down 7 this morning. Lauren Federal Reserve taking Emergency Action to protect the u. S. Economy from coronavirus central bank and surprise move yesterday. Slash its bench mark lepgding rate by one full percentage point to near zero is. The fed also restarting it bond purchases, announcing planning to buy 700 billion in treasury and mortgage back securities in coming months. Cheryl pal discusses in a News Conference yesterday. Actions we have announced today will help American Families and about businesses in a indeeds our entire economy whether this difficult period and will foster more vigorous return to normal once disruptions from coronavirus evade. Cheryl whens that going to fight and a fight the spread is of the coronavirus because they know it is going to take a toll on u. S. Es economy. Expected to cut the fed funds rate by a percentage point at this week meeting, obviously, that is off the table. They made their move yesterday. Lauren aing vaccine for coronavirus today the first participate will receive the first dose, the trial is being funded by National Institute of health and will take place in a Research Institute in seattle. Now Health Officials say it will take anywhere from a year to a year and a half maybe two years before any vaccine is ready for the public. And shares because theyre taking part in this trial of three and a half percent when Everything Else is is mostly lower this morning. Cheryl well from schools to museums, even restaurants, a lot has changed if in the last 24 hours. The businesses across the country is really changed and theyve been forced to close their doors coronavirus epidemic has worsened coast to coast. Lauren foxs Aishah Hasnie has latest for us. Good morning lauren and cheryl weve never seen anything quite like this and start with new york city where restaurants and bars begin closing on tuesday take out and delivery still aloud. Same thing happening in los angeles, nightclubs, movie theaters, gyms, closed at midnight for rest of the month, and other cities like miami are now issuing cur curfews mgm closing indefinitely. Illinois, ohio, and washington among the states also shutting down dining in at bars and restaurants, state and local leadsers emphasizing that these orders are absolutely necessary as covid19 cases spike to more than 3,000 across thing nation, more than 60 people now dead. New york city may a your bill de blasio writing this, this is not a decision i make lightly. These places are part of the heart and soul of our city. They are part of what it means to be a new yorker. But our city is facing unprecedented threat and we must respond with a wartime mentality. President trump calling on state leaders to step up local containment efforts tweeting, the individual governor estate and local officials must step up their efforts on driveup testing and testing sites. Working in conjunction with cdc and federal government and that Coronavirus Relief bill still not on the president s desk. Senate Majority Leader Mitch Mcconnell announcing senate will convene today and may even come up with its own version. Meanwhile mcconnell also added that more covid19 bills are necessary and could be coming down the pipeline very soon. Lauren, cheryl. Lauren all right aishah thank you it Airline Industry is reeling from coronavirus United Airlines cutting flights in half starting next month. Awflg this as International Passengers wait in jampacked custom lineses that didnt observe social distancing. And they did so for hours. Cheryl pirro in new jersey with how Trump Administration is responding to this. Todd good morning. Reporter lauren and cheryl good morning a quiet with scene here at the new york airport but it was a much different scene yesterday. Check this out. Just a few hours ago, travelers packed to the here waiting in custom lines the exact opposite of the social distancing authorities are pushing that scene repeated at airports throughout the country. Including it in chicago, where the mayor lashed out at the feds. The federal government Must Immediately and significantly increase personnel devoted airport screening. And rather than sending i. C. E. Into the streets, send screeners to our airports thats what we need. 1 airport processing travelers from overseas with Homeland Security chief chad wolf promising improvement ahead. Get a limited number of airports including chicago are unacceptable. We e did make necessary adjustments at 12 of the airports were glad so see Search Airlines and step up partner with us to help address this this unprecedented situation. Within of those airline as united which announce a cut in flight capacity by 50 in april and may, with while predicting those cuts with last into the Summer Travel season. Delta announce reduce flights to europe including suspension of certain roots american reducing its International Capacity by 75 as well. But while rushing back from overseas is understandable. Dr. Anthony man on the frontline this have crisis says it is not necessary. We like to not see crowds like that, i mean, think what people need to understand if youre an a American Social citf youre a Family Member that you can get back. You dont need to rush become and on the understandable how people see a a travel ban, they immediately want to hunk hadder to get home. To help travelers better prepare tsa has a brand new coronavirus website to help travelers through the security screening process. Lauren and a cheryl back to you. Cheryl wall street is waking up who could be another day of major losses after that emergency 1 rate cut by the Federal Reserve and bring michael lee strategy and mike you say markets have it wrong this morning. Why . Absolutely. What the fed is saying right here is theyre going to use every bullet they have every tool they have top ensure that this economic contagion thats coming from con age will not spread to liquidity crunch as a rule of the coronavirus the fed is right to come out. This is the second im sorry this is the third unannounced Emergency Action the fed has taken. I dont know how many tools they have left. Im sure is they can get much more creative but now you have a bond bond program not only treasury in mortgages plus a trillion and a half in repurchase agreements to enshu that dealers, asset manager, bank have enough money to talk daily operations. Cheryl criticism against this emergency move last night is this is not 2008 and they are jumping gun here. But your opinion is more that theyre actually getting out in front of this and that market as have it wrong if we have it wrong. Then why why are we limit down to futures market right now . Is this Program Trading i dont you know we are still in a state of unknown. Okay markets have good news markets can handle bad news and cant handle no news, and the inability to quantity that this coronavirus will have. To me as a investor is closing of bar and restaurant in california. In new york, they are looking at a how serious this is, and how much of our country is going to be on a lock down. I believe that well get through this. I believe bottoming process started and were closer to tend than we are to the beginning. But this is extremely unsettling and you know, these bottoming processes are not technical. Theyre not economical and emotional and i dont know anybody thats been watching market that isnt getting emotionally drained at this point. Cheryl youve said this before this is wrong time to jump in and panic still traders on deaths around new york city and around world are looking at gotd man sachs says theres going to be zero growth for First Quarter, Second Quarter pretty much the same situation thats a recession and thats what you have to wake up if youre on frontline in market this is morning thats what youre waking up to. Just a little bit of good news from this is because i think this coronavirus will straddle First Quarter and Second Quarter. We may actually not technically enter a recession because you dont measure gdp from may first and well have good months on either side of it so positive growth just a technical you want to get nerdy the committee theyll tell us about recession we can go on and on about stuff thats going on on markets mike as always thank you forking being here. Appreciate it lauren over to you. Experts say it can tick a year before any Coronavirus Vaccine becomes available to the public. How can can you keep yourself and your family safe in the meantime. Taking it too far, jokes about the coronavirus are cries for toilet paper. Headlines that have us what are they thinking . Well coming up on fbn am. Ess in the Transportation Industry without knowing firsthand the unique challenges in that sector . Coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. Thats why i go beyond the numbers. 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. Its surprising how the bigger a city gets. The smaller it starts to feel. 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There are more than 30 antiviral treatments that we are testing today. Lauren that was philanthropist speak on sunday morning futures about advancements made to fight coronavirus and infectious chief dr. Straus is here to talk, good morning. We know a Clinical Trial starts today. So were moving fast with the trials with the vaccines. But we are not moving fast enough. Or are we . We are not. I can tell you from frontlines the Medical Center has been hit very hard been a hum onlying experience. Now weve been taking this very is seriously ever since reports came out in late december weve been preparing for this. But i will tell you this is a quickly evolving situation weve been collaborating with our fellow doctors, other medical institutions to really keep them informed. Lauren how long ho does it take you to get results of the test becauselet say 27 to 96 hours you have to keep that patient in isolation so wasting resources and wait to see if they have even coronavirus. They can say you have this and go home and a selfquarantine or keep them in the hospital youre right keeping them in the hospital we have to keep them under strict isolation so we know exact test. How many patients do you have with coronavirus . This number is increase rapgdly over weepgd taking a quick break here from frontline but a quickly moving evolving situation. Lauren were with looking at pictures the google a pilot of a screen isinging and testing website theyre testing this in the San Francisco area if you think you have coronavirus and answer some questions and then theyll send you wherever to get tested. Heres my question. If google this information on us and we know that this was done in south korea and china are we in the process where Tech Companies will start to socially track fuss, our temperatures and our whereabouts . Were all for tell medicine for technology, to really help we need a lot of help. We are certainly concerned holy name about ourings ifs our nurse frontline prfortds. Exposures and need to selfquarantine not take this disease et cetera. So we need all a of the help we can get utilizing medication and nurses any technology we can with use to help triage to take care an monitor those that are less sick as very much welcome. You think that is a good they think. I do. When do you see a spike cases . Incredible amount of cases in last few days norton, new jersey holeily name Medical Center sent you center of this pandemic in new jersey. Because youre near teaneck new jersey under selfquarantine. Brave and very bold and took that measure which again, i think is very important for the general public to understand that is what is indeed needed at this point. We all know okay if youre not feeling well you stay home and selfquarantine for Health People avoiding large gathers et cetera is most important not all of us can work with from home but those that can limit social gatherings. Go to Grocery Store if you need to and pharmacy to get your medication and stay home as much as you can. Cdc says no more need for social gatherings for two months time. L all january and february they have word draconian operation and it was a flat net curve and lower number of cases. Now more than china what does that say to you . Cat is out of the bag. We look at way this spreads. We have containment patient has a disease we try to isolate them. Now it is gone beyond that and really mass mitigation social mitigation at a extreme large level. Lauren doctor thank you. Thank you for coming in and thank you for everything youre doing helping us from this. We with appreciate it. Cheryl and coronavirus is on minds of Market Participants looking at u. S. Features we have limited down in futures market for third time in just over a week. Fed cutting rate to near zero markets not impressed although our guest mike lee said that markets had had it wrong today. Hes going to be on fox later on in the morning right now the dow down 1,031 and nasdaq down 359 and three quarters all finished last week in bare market territory and, obviously, keeping you abreast of everything in your markets. All this 2020 hopeful go headtohead at lasting night debate and did Bernie Sanders succeed in polling joe biden to the far left . Plus a big change coming to costco today it has nothing to do with the coronavirus. Imagine that. Keep it here on fbn am. Theres a company thats talked to even more real people than me jd power. 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. Theres a me no one knows waiting to be set free so, whats the empty suitcase for . The grand prize trophy i was born to be somebody lauren nationwide academic taking center stage during first oneonone debate between Bernie Sanders and joe biden the candidates waste no time slamming President Trumps response to coronavirus. Well first thing weve got to do but were not on president is to shut this president up right now is unacceptable for