All of this out. Stocks are in and out of touching 7 fall i dont have that would trigger another Circuit Breaker. At the worst we were down 6. 7 . Now down about 5 1 2 . That translates into a dow barely above 20,000. The same drama, surreal one continues to play out across the country. I want to show you what is happening this is new yorks times square, this has been pretty much the youre not seeing many people drawn to the crossroad of america, among some of the busiest thorough fares on the planet. Youre seeing similar situations play out in seattle, washington. Youre also seeing it play out in the likes of hoboken new jersey where the mayor there has, is saying that people should go ahead and obviously selfquarantine themselves, if you will, or selfisolate. New york Governor Cuomo by the way has distanced himself from new york city mayor de blasio who is advocated an across the board crackdown, a lockdown here, that would call for pretty much everyone, at least in manhattan, at least in the five boroughs of new york city staying largely in their homes. That is something he says is not necessary right now. Were told the governor rules on these things. The american offer input and he governor has decided that is not going to happen. Ahead of the press briefing from the Coronavirus Virus Task force, go to john bussey and dan getter who joins me on skype. Gentlemen, good to have you both of you. Every day, forget the market, but every day we get reminder how unnerving and surreal, john this, is getting, some of the busiest cities in the world are at a standstill, ghost towns, what do you make of it . Yeah. Cities at a standstill. Businesses at a standstill which means paychecks are at a standstill. That is what the administration is trying to contend with, neil. They are worried as business simply shut down, working capital, that is the capital that companies have to meet payroll and pay the electric bill is going to dry up really quickly. That is why youre seeing this 850 billiondollar stimulus quickly escalate to one trillion in estimates for the Airline Industry, for Small Businesses and for individuals. The administrations worried people simply wont have enough money to make ends meet and businesses wont either. So that is what that stimulus package is all about. Stuart neil dan, what difference do you think the stimulus package will make to wall street . When i herd these come up in the past, yesterday was a bit of an anomaly, normally markets have been moving on progress with the virus, not necessarily progress on economic stimulus to deal with the virus, what do you think . I think, neil, that until we start to get some positive news or some certainty regarding how were going to be able to contain this virus, i dont think wall street is going to respond postively. When were talking about the type of stimulus of one trillion dollars that the government appears to be prepared to put into the economy, everything that we need to do, basically, throw the kitchen sink, to save the economy, i mean if wall street is not going to see a reversal based upon the extraordinary measures that the federal government is willing to take, i dont think there is anything else that can happen. I think that were just in a momentum period going the wrong way. And were not going to get a stopgap until we get something tangible related to controlling this virus. Neil you know, one of the things were learning as were waiting to hear from this press session on coronavirus, maybe the president himself will join this, is that they are going to be spending a lot of money, upwards of a trillion dollars. That is just for starters, john, one of the things bandied about from washington post, everyone in america, at least 1 3 of americans getting 2,000dollar checks. 300 million would be earmarked, i dont mean to play on word here, that is just for starters. How much are the markets, do you think looking to digest on that . I mean one of the reasons why we had a backup in Interest Rates today. There will be a lot, you know, heavy spending going on here, what do you think . Yeah. Thats right. And heavy support also, neil. Heavy spending in the form of direct payments to individuals. That is what the administration wants to do. The question how fast can that be done . It will be meanstested. They dont want to pay wealthy people if they dont have to be. They want to make sure people who need money will get it but how fast can that happen . And when secretary mnuchin talks about really soon, it is probably going to be a little longer than really soon. The other thing thats happening is that the support that is coming in is from the fed. The fed is looking at the Financial Markets and worried about any part of the Financial Markets seizing up as businesses draw down the credit lines very quickly to try to meet payrolls, pay the electric bills, pay their expenses. So the fed is infusing a lot of liquidity into the system. I think having learned from the financial crisis in 2007 and 2008 it needs to act quickly and robustly. All of this, market looking at, i would imagine, saying great, that there seems to be neil john, sorry to jump on you my friend. The president now addressing the nation. I would like to begin by announcing some important developments in our war against the chinese virus. Well be invoking the Defense Production act just in case we need it. In other words, i think you all know what it is and it can do a lot of good things if we need it and we will, we will have it all completed, signing it in just a little while right after im finished with this conference. Im signing it. It is prepared to go. We i will be invoking the Defense Product act. Last week i signed an Emergency Declaration under the stafford act which as you know we invoked previously which activated femas National ResponseCoordination Center. Fema is now fully engaged at the highest levels. Today fema is activated in every region, we are at level one, level one being the highest level which we will work with and weve been working with fema. I have done a lot of work with fema. Theyre incredible. It is always been on hurricanes or tornadoes. Theyre right now in tennessee a large group working in tennessee. Have been incredible. It was tragic event. Alabama last year also a tornado and then obviously the numerous hurricanes in different locations that were, in some cases very devastating. In every case, fema came through. This is a very different kind of a work for fema, but they will come through, as they always do. We have tremendous people, tremendous talent in fema. Were sending upon request two hospital ships. Theyre being prepared right now. Theyre massive ships. They are the big white ships with the red cross on the sides. One is called the mercy and the other is called the comfort and, they are in tip stop shape. They soon will be. Theyre getting ready to come to new york. I spoke with Governor Cuomo bit. He is excited about it. We havent made the final determination where it will go on the west coast. The comfort is located now in san diego and it is going to be, it, well be picking the destination fairly shortly. So those two ships are being prepared to go and they can be launched over the next week or so depending on need. Earlier this week the first Clinical Trial of the vaccine candidate for the virus began in Washington State as you probably know. The genetic sequence of the virus was First Published in january but thanks to the Unprecedented Partnership between the fdanih, and the private sector we reached human trials for the vaccine just eight weeks later that is a record by many, many months. It used to take years to do this, and now we did it in a very short while. That is the fastest development in history of what were doing with regard to the vaccine, making very, very big progress. Today i can announce further steps to expand testing capacity. Were working with several groups to determine if the selfswab, much easier process than the current process thats not very nice to do, i can tell you because i did it but we have a current process that is a little bit difficult. If you have it done the, the groups are working on determining if a selfswab by an individual is as effective as the other. The other is very effective, very accurate but were going to see if we can do a selfswab which would be a lot more popular, i can tell you that. So, and that would be administered also by a Health Official but it would be a lot easier to do. The, the fact is the Health Professionals it, would free up a lot, let me just say, the selfswab is what it its. A selfswab. You do it yourself. The other has to be issued by a Health Professional and its something that is quite difficult and we think it is working out for the selfswab and if it would test positive the people would go, they would do what they have to do but we think that is probably working out. I have asked the fda to cut through the red tape and reduce regulatory barriers. We are looking at some very exciting things and im going to be holding a second news conference, either today, well talk about the fda, some things are happening that are quite exciting. And were going to be doing that either later today or early tomorrow, fairly early tomorrow. So well see what happens but the fda, my instructions is, ive been working, very, very hard on a number of developments and well be discussing them with you later today or tomorrow. And this afternoon i will be meeting with nurses on the front lines of the battle against the virus. Theyre Truly American heroes. They want to get it done. Theyre incredible people. So we are going to be meeting with nurses and actually look forward to that. Theyre very brave. Theyre taking a lot of risk and they have done an incredible job and they never complain. Today im also announcing that the department of housing and urban development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of april. So were working very closely with dr. Ben carson and everybody from hud. Every generation of americans has been called to make shared sacrifices for the good of the nation. In world war ii young people in their teenage years volunteered to fight. They wanted to fight so badly because they loved our country. Workers refused to go home and slept on factory floors to keep Assembly Lines running. The numbers of ships that they built during world war ii to this day has never, nothing like that has ever been equaled. They were doing ships on literally a daily basis. Nobody ever seen anything like it and to this day nobody has seen anything like it what they were able to do during world war ii. You no it is our time. We must sacrifice together because were all in this together and well come through together. It is the invisible enemy. That is always the toughest enemy, the invisible enemy but were going to defeat the invisible enemy. I think well do it even faster than we thought and it will be a complete victory t it will be a total victory. Well have a second conference having to do with the fda and this. Potentially be a very exciting news conference. We will do it as quickly as we can, whether it is today and tomorrow. I will, with that ask mike pence to say a few words. And thank you very much. Thank you, mr. President. The White House Coronavirus task force met this morning and now that we have cases in all 50 states were continuing to move out on the president s call to bring the full resources of the federal government, the full partnership with every state and territory, the full power of the American Economy to support businesses and families. As the president says, to us, and to everyday, well do whatever it takes. Were all in this together. Yesterday the president met with the Tourism Industry executives and also had an engaging discussion with all the Top Companies in our industrial and medical supply chain. Now the president as you all are aware also announced today that by Mutual Consent of the northern border to canada will be closed to nonessential travel this does not include essential travel or transit of good but it was through mutual discussion that took place this morning between the president and Prime Minister trudeau and department of Homeland Security will be affect waiting that decision. President spoke with top Business Leaders again today to speak about the supply chain in the country and for our part were going to be conducting a Conference Call later today with state and local Health Officials to renew our ongoing commitment of cooperation and collaboration. As the president said last week in signing the stafford act he stood up the National ResponseCoordination Center and today at the president s direction fema has gone to level one. Femas mission is to support disasters that are locally executed, stayedmanaged and federally supported and tomorrow the president will host all the nations governors from a videoconference at fema to insure that they have full connection to all of the activated regions for fema going forward. With regard to testing im pleased to report that were increasing the number of tests being performed by the thousands every day, thanks to the Public Private partnership that President Trump forged with commercial laboratories around the country. Our Health Experts tell us to remind every american, it is important to remember people without symptoms should not get tested. We want to make sure the supply of testing is there for those that need it most or are symptomatic or in the vulnerable population. Dr. Debra birx in a moment will talk about the progress were making on infection, the infection rate, recommendations to every american and important new findings about the impact on youth that were gaining from data coming in from europe that will be important to, every american. On the subject of supplies, the president has hour task force extremely focused. As the president mentioned, that he is invoking the Defense Production act today. Secretary esper in a few moments will describe ongoing efforts that the department of defense is taking to make medical resources available. Secretary Robert Wilkie will announce decisions va made to expand Hospital Capacity within their system. Also with regard to medical personnel at the president s direction hhs is issuing a regulation today that will allow all doctors and medical professionals to practice across state lines to meet needs of hospitals that may arise in adjoining areas. In addition to that we are again today asking every american and our medical Community Leaders and hospitals to partner with us in delaying elective procedures across the country in our Health Care System to insure medical supplies and medical capacity go where theyre needed most. Seema verma will describe guidance cms will be issuing on that front. Finally i just want to remind every american of the president s 15day guidance to slow the spread. Were grateful for members of the media and the general public that are adhering to these, sharing them with neighbors and friend. All of the experts continue to believe, if every american will do their part, embrace and put into practice these principles, that we can significantly limit the reach of the coronavirus in the weeks and months ahead. Thank you, mr. President. Thank you very much. Dr. Birx, please. Thank you. Thank you, mr. President and mr. Vice president. So you know we continue to look at data every single stay. There are concerning reports coming out of france and italy about some young people getting seriously ill, and very seriously ill in the icus. We think part of this may be people heeded early data coming out of china and coming out of south korea about the elderly or those with preexisting medical witness were at particular risk. It may have been that the millenial generation, our largest generation, our future generation, that will carry us through for the next multiple decade, there may be disproportional infections among that group. Even if it is a rare occurrence, it may be seen more frequently in that group and be evident now. So were looking at that information very carefully. We have not seen any significant mortality in the children but we are concerned about early reports coming out of italy and france. Again im going to call on the generation thats part of that group that brought us innovation, particularly throughout all their ability to look around corners and skip through games, always went level by level, i didnt realize you could go to level 3, to level 7. That is what they taught us. They look for things we dont see. We need them to be healthy. Not only calling on you to heed what is in the guidance but really insure that each and everyone much you are protecting each other. So we cannot have these large gatherings that continue to occur around the country for people off work, to be socializing in large groups and spreading the virus. You have the potential then to spread it to someone who has a condition none of us knew about and cause them to have a disasterous outcome. Finally on the testing piece, and what were learning, last week in bringing the private sector, i think what has been exciting to me over the last 2 1 2 weeks is to see the