The s p 500 down deep in the red down 5 . Fox Business Team coverage. Blake burman is at the white house where the president is currently meeting with nurses on the pandemic. Kristina partsinevelos on the floor of the New York Stock Exchange. And chad pergram is on capitol hill. Were going to start with blake. Reporter hi, there, we had known for about a day now that the Trump Administration had been potentially eyeballing a trillion dollar stimulus package, bailout package, whatever you want to call it. Now we know what they are thinking of, how that trillion dollars might be divvied out. According to a Treasury Department document 50 billion would go towards the airlines. 150 billion would be in loans to critical sectors of the economy or what is deemed as critical sectors of the economy. On top of that, there would be 300 billion in Small Business loan guarantees, and, there would be 500 billion in direct payments to americans. Half on april 6th. Half six weeks after that, on may 18 this, 250, 250. The direct payments would be based on income level and family size. When you do the math, that works out to roughly 750 for every american for each of the two payouts. I ran those numbers by the president earlier this afternoon and he acknowledged this whole trillion dollar plan is still being fine tuned. Every number that you mentioned, yes, weve talked about those numbers. Were also moving those numbers in both directions. So well let you know. It will be, it is moving along fast. Again there is a great bipartisan effort going on that i havent really seen before to this extent. Reporter on top of that the Trump Administration is also requesting another supplemental spending request of 45. 8 billion for government agencies. 40 billion of that to these four right here, va, health and Human Services, the Defense Department and the department of homeland security. So wherever you look, whether it be to the private sectors, to individuals, to government, a trillion dollar plan, another 45 billion or so spending requests. The Trump Administration as it says is trying to do whatever it can to stave off what is in front. Back to you. Melissa no doubt. Blake, thank you. Lets go to Kristina Partsinevelos on floor of New York Stock Exchange. Kristina. Reporter im optimistic to say we came off the session lows with the dow hitting negative 10 lower at one point today. We did close a little bit higher off of that, but still in the red across the board. The dow down over 6 . S p 500 down about 5 , nasdaq a little bit over 4 lower. If we look at the movement throughout the day for the dow, we had Circuit Breaker enacted. That is when the s p 500 falls 7 . That caused all markets to be halted. Traders had to pause for 15 minutes. It happened, the difference with this one, we had four Circuit Breakers enacted in less than two weeks. This one happens before one p. M. Eastern time versus all the other ones that happened at the open around 9 30 a. M. We held out a little bit longer today. We talked though about the trend. Were seeing stocks, bonds and commodities sell off simultaneously. That is the difference were seeing. There is hunt for liquidity. People are trying to raise cash. Theyre moving out of some safer bets like government bonds as well as gold. One of those areas, commodities, i actually want to focus on oil because oil, weve been talking about the concern about hitting 20 bucks a barrel. At one point today, look at that, the low was 20. 06 for crude. We had one analyst weigh in on our show, i should say on the network really today, if it hits that price we should be really concerned about u. S. Domestic producers and completely wiping off profitability for them. You can see lows we havent seen since 2002. Switching to biotech, lets talk about some stocks gaining today. You have the race for the cure. Many companies are trying to rush out there, provide a vaccine, provide a test. That is the case of bio america. Theyre working on a 10 minute test. Moderna, imv, teladoc, a leader in telehealth. Last but not least consumer staples, people stock up on goods. Trending higher. Walmart hitting alltime high. Mccormack spices, walgreen, walmart still open. That is why theyre trending higher. Melissa kristina, thank you. Connell what weve been seeing, veronica daguerre from the wj. Good to see you. Doug flynn is with us as well. You deal with individual investors. Obviously these are nervewracking times for many of them and all of us. What types of conversations do you have, even on a day like this . Seems like the speed of the movements, one way or the other it is just catching just about everybody off guard . It is. Today is the 8th day in a row with more than 4 swings up or down. That breaks the record of more than 4 moves ever so it is unnerving and the conversations were really having, there are really three things you can do. One is really to do nothing. Two is just, whatever you thought was good for you long term about a month ago is probably still good long term. Maybe just rebalance right now back to it. Connell right. Or the third thing you can do is make a decision do i get in or get out. Typically if youre getting out, those are decisions you make under duress you come to regret later on especially a freefall were going on right now where the market trying to find its bottom. Connell the search for the bottom caveat all depends on personal situation, how old you are, veronica, Everything Else but people are nervous. Seems like theyre waiting well talk more about this in a moment in terms of details for washington to do something, even when washington does something it doesnt help us with the timeline necessarily how we get through it, right . Right. We dont know how far, how deep this recession if well go into it, looks like it, how long it will go on for. You can only do so many fiscal and monetary measures. You know at the end of the day, people really want some sort of a vaccine, some sort of a cure for this. That is something that the federal government cant do through monetary measures. You know, in terms of investors though, i think individual investors were seeing it in the numbers so far has been pretty disciplined, not making big moss. Were seeing most of the big moves in the market from the professional investors and al go traders. If youre an individual investor, dont need the money for foreseeable future, you know what . Try not to open up the 401 k . When you panic, people tend to not make good decisions. Connell right. If youre in situationings that youre losing your job, a lot of your money is tied up in stocks in your brokerage accounts, you dont have three to six months worth of expenses, maybe you want to get some of that money out, so you have that three to six month worth of emergency funds. Connell definitely saw it on the professional level, that search for cash today. Kristina was talking about that. All kind of Asset Classes that were being sold off, doug. A quick word on that . Everybody seemed to need or want cash depending on their situation . That is, this is a, sort of a fight or flight kind of thing that people are feeling right now. Were just about down to the average which is 36 down, average recessions go down 36 . Were almost there. Were right about to the point where you look the average. That is when people typically want maximum flight, basically where we are, do i get out . Connell i will bring melissa in here for a moment, tell everybody what theyre doing. There will be a playback, melissa, from President Trump in a few seconds who is meeting with those nurses. Maybe we get more what were expecting out of washington or at least how the response is being handled, right . Melissa he based a lot of questions on number of ventilators out there and number of masks. Lets listen in. See what he has to say. Thank you very much. Today i welcome the great nurses of our country to the white house and express our gratitude for those on the front lines in our war against the Global Pandemic and it has been something, but, were winning it. We will win. It is a question of when and i think it is going to go quickly, we hope it is going to go quickly i think we all agree. Were glad to be joined by Vice President mike pence, secretary alex azar, administrator seema verma, dr. Robert redfield and dr. February bra debra birx. Thank you for being here. Were using all power of government for the chinese vice russ. Were making 50 billion of Disaster Relief funds to use to assist hospital as you know we need. I asked states to set up Emergency Operations centers and hospitals to activate emergency plans and they have been fully notified. Were urging hospitals to can sell all elective medical procedures. That Emergency Declaration allowed us to give nurses an doctors maximum ability to respond to the virus and professionals through telehealth nationwide which is becoming big stuff, telehealth. Makes it a lot easier for patients and really has been working out amazingly well. We empowered states to authorize tests developed into their state and we are working with the private sector to rapidly expand testing capacity. We have literally rebuilt that whole system t was an obsolete system t has been rebuilt and a lot of good things are happening. Weve ordered 500 million n n95 masks to drive private production. They are repurposes factories. One major manufacturer has already doubled capacity. Weve asked Construction Companies to donate unused masks. They donated quite a few of them. Construction companies, who would think that they will be donating unused masks and the Defense Department is making millions of masks available for health care workers. And were asking every american to make major changes to reduce social interaction shuns over the two weeks as we all know. We must make shared sacrifices. Thats what were doing as a country. It has been amazing to see the way the country has come together. There is tremendous spirit and even republicans and democrats are getting together, for the most part but theyre getting together so thats a good thing to see. I thought maybe i would go around the room and say, your name, and who you are representing and great to have you, thank you very much. Please. Im dr. Debbie hatmaker. Chief officer for of the american nursing associations. Im the ceo of the American Academy of nursing. Dave ceo of American Association of nurse practitioners. Thank you very much. Mr. President , im dr. Debra troutman, mr. And see joe of the American Association of colleges of nurses. Im Theresa Davis and im Clinical Operations but representing the American Association of Critical Care nurses. Thank you very much. Ron troutman, 2021 National President of american emergency nurses association. Mr. President , im the ceo of American Organization for nursing leaders and cno for the American Hospital association. Thank you very much. I know who he is. Mike, do you have have anything to say . Mr. President , i want to join you in welcoming these, these great healers to the white house. The president spoke today to the leaders of physician organizations from around the country. We garnered from them recommendations about how we can further support those of you that are coming along americans impacted by the coronavirus and as the president said were absolutely committed to bringing the full resources of the federal government, the full resources of the American Economy to work with states across the country to be there for americans struggling with the coronavirus but at the same level of priority the president s made it clear we are to make sure that the men and women who are serving those patients and nurses, nurse practitioners, the emergency room nurses, so wellrepresented here around the country, are in the forefront of the president s mind. As he said weve taken decisive steps. Weve enable expansion, availability of n95 masks and congress has worked in a bipartisan way to make more of those available. Were working on gowns, gloves, all the personal protective equipment that all of you rely on every day. I look forward to the discussion today about how we might be most helpful but i hope you will carry back the gratitude of your president and of our entire team on the White House Coronavirus task force for the work that all of your members are doing every single day. They are the hands and feet of american compassion and every american is grateful to our nurses. Thank you, mike. And just for the media, fema is fully engaged. Theyre, were working with them very closely. Theyre going around, theyre seeing many of the states they are engaged all over the country but some areas have far greater problems than others. Some areas dont have very much of a problem at all as you know but fema is very much engaged. Theyre fully engaged as of about two hours ago. Tomorrow were having a, what i think will be a very interesting News Conference and i think you know what thats all about. So we will see. Fda will be, they have been working very, very hard and i appreciate what theyre doing, i think we have some very interesting things that will be brought up tomorrow at the News Conference. It will be set up i think at around 11 00 or so but we look forward to seeing you tomorrow. Thank you very much, everybody. Press lets go. Were finished. Connell President Trump moments ago at the white house meeting with a group of nurses there, giving us preview what we might see tomorrow. While that was happening the president did pass the stimulus bill that came out of the house. Want to go to chad pergram on capitol hill and to be clear, this is not the socalled phase three of trillion dollar stimulus weve been talking about the last few days. This is the one we almost forgot about that came before that, right . Reporter thats right. The face two, the vote was 908. That underscores the challenge that faces democrats and republicans in the senate as they try to put together phase three. The fact that it took from saturday morning until wednesday afternoon just to get that through that was supposed to be the easy bill, that tells you a lot as they try to work on phase three. There is a lot of concern about the cost of phase three. Here is republican South Carolina senator lindsey graham. I am worried about the price tag. You pay now or you pay later f we dont contain this virus the entire economy is going to collapse. Reporter there is disagreement from senators on both sides of the aisle about direct payments to citizens. Not all of more than one trillion dollars is new money. Much of it is tax breaks but Senate Majority leader Chuck Schumer is concerned about how much money people will get if theyre off the job. A single 1000dollar check would help someone pay their landlord in march. What happens after that . How do they pay their in april when their office or restaurant or store is still closed for business . How about may . How about june . Reporter they will have to negotiate with democrats like schumer as well as House Speaker nancy pelosi. John cornyn, republican senator from texas said earlier this afternoon, quote, what i am more worried about than anything this may not be the end. In other words whatever they pass next two or three days, if they can get it together that fast, that might not be the end. That will be more than a trillion dollars. Chris coons, democratic senator from delaware he indicates that businesses are on the phone with him and track airlines we need to see action from congress right now, we need to make decisions this week about furloughs and cuts. It will not be in a month. We need to understand what congress is doing so we can make those decisions this week. Connell, melissa . Connell right. They want to see how it is structured on face three. Chad pergram on capitol hill. Melissa. Melissa lets bring veronica and doug now to react. Doug what do you think of what you just heard . Assumer is saying he wants to spend a few more trillion dollars. Melissa shocking, yeah. Look, i think some of the things theyre trying to do are helpful f you go with the payroll tax. If youre not working youre not getting the money. If you give people money out of the gate that might help. This is not a long thing we have to get through. We have to get to the other side of the mountain, when we do, there are good prospects on other side of that. Were living in the moment of all the negative news minute by minute so all this stuff is helpful. Business is doing a great job. People are doing a great job. Government is doing its job. Hopefully all together we get through this and to the other side. That when you see improvement. Melissa if there is emergency, last people i want to wait on is congress. That is the slowest moving body of any type in our country. Im trying to think of something slower, maybe the mail, but that is government too. You want executive order. People are terrified. They need relief. How are they doing . They have got to move on this now. Americans need money now. The good news it sounds like americans are going to get some sort of a check. I dont know how big it will be. Depends on size of your family, how much you make. Looks like you will get some money. That will be welcome relief to lot of americans who are terrified. You need to pay your rent. You need to pay your utilities. You need to feed your kid. You need this money today, not three months from now. Melissa yeah. It is true. I talk to a lot of people every day who are out about two weeks worth of pay. So they just, they dont know how they will do anything. Theyre really terrified. These guys, screw around for a week, it is nothing to them. It is a lot to everyone else. Thanks, guys. Connell . Connell all right. Talk about the automakers now. Look at all these Companies Getting hurt. I do want to pass along something larry kudlow said and blake burman said a conversation happened a few minutes ago at the white house. Kudlow has floated the possibility now of taking equity positions, u. S. Government taking equity positions in Large Companies if they provide assistance to those companies. That brings us to 08 conversations we can have more of. Meantime well have more on that coming up. Ford, gm, chrysler, all confirming plans to temporarily suspend production at all their factories, right . Grady trimble has been doing a lot of reporting on this throughout the day. Owe joins us now from a ford plant in chicago with details as we know them. Grady . Reporter connell, Fiat Chrysler the last of the detroit three automakers confirming they will suspend operations at north american factories through the end of the month. General motors and ford will not be producing any cars in their north american factories through march 30th. All of these automakers had pressure on them from the United Auto Workers union. They met with ceos of the big three last night and the result of that was not to suspend operations but that was all reversed this afternoon and now all of the big three automakers will suspend operations through march 30th n the case of ford and gm and through the end of month in the case of Fiat Chrysler. This is what the United Auto Workers had to say about this decision, they say, uaw families, members and our communities will benefit from todays announcement with certainty we doing all we can to protect our health and safety during this pandemic. There are 150,000 uaw workers across all three of these companies n terms of pay, we asked that of all automakers, will employees be paid while theyre not working . We havent heard back from fca or ford. General motors said employees will be compensated but theyre still working with the uaw to figure out the details of that. In terms of the automakers, this decision will cost them millions and millions of dollars undoubtedly. It is uncertain exactly how. The latest work stoppage was uaw strike. That was general motors. Gm took a 3. 6 billiondollar hit during that stoppage. That was 60 days. Right now these stoppages are anywhere between 11 and 12 days. Well have to wait to see what the impact is on automakers will be. It is not a good time to buy a car anyway. That being said, fca and ford were already dealing with employees who had tested postively for the coronavirus. Some of their plants were closed down. Now starting later this week all of them will be. Connell . Connell Grady Trimble in chicago on the Auto Companies for us. More broadly on the virus, more than 214,000 cases worldwide as this pandemic spreads across 145 countries. 7,000 here in the u. S. In terms of cases. On the screen we look at broader context of the rest of the world and new cases. Gives you an idea where we are on socalled curve. Italy, cases up 12. 6 since yesterday. Spain up nearly 38 . The u. S. , 39 plus percent. Almost 40 rise here in the u. S. You see differences left side of the screen. China where the outbreak started, up tick of barely anything, half of 1 since yesterday. South korea which had the response which everybody talked about so aggressive, 1. 1 . Maybe gives us idea where we are and what might be coming. Melissa drivethrough testing sights popping up across the u. S. Health and Human Services setting up mobile labs across a dozen states. Were live with the latest. Would a shelterinplace order would actually mean for new york city and impact on the rest of the nation. Stronger investor. Exactly. rocky theme music fiftysix straight, come on thats it, left trade right trade. Come on another trade, i want to see it more 80sstyle training montage . Yeah. Happens all the time. 1 in 3 deaths is caused by cardiovascular disease. 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I was shocked last week before we really got so much more serious about everybody being home, you guys were out. There was no one in front of the trucks. There was no one in the city. Just the city were showing right now, the picture, normally lines for these trucks, it is famous in midtown, it is 30, 40 people deep. Sometimes i walk by, i have to keep going, i dont have time to wait. You guys work so hard and you built this business. Tell me about what is going on . How much is this hurting you . Yeah, like you said, melissa. Great to finally hear your support after all the twitter support. So, yeah, you tweeted out at us last friday and it was a beautiful friday. It was 65 degrees, sunny and it was just dead. You know, on a day like that we should have done three four times what we actually did in revenue so i have been tracking this thing since like, the middle of january. I studied abroad while in college on china. So i was always trying to keep an eye on it to keep my crew safe. We had to make the decision to make our last day, last saturday. We did the fifth hammer brewery in long eye city, queens. Thats it. Were staying home. Im in my pajamas. Melissa but you are, you are a take out, people are concerned when they go up to the little trucks, they want to see how clean it is. You guys are in there. Theyre so careful. Theyre so great. You make the food, seal it up, hand it out. Are you not open because there are not enough people out . Yeah. Just midtown manhattan is like a ghost town. Looks like a postapocalyptic, i have never seen it like this. So, it is really, you know, were running a business. Sometimes it makes sense just to shut it down as much as it pains me to say that. Melissa you were about to open a restaurant. I mean i know that has been your dream. You won the money for the truck on, i i want to be a millionaire . I cant believe who wants to be a millionaire, thank you so much. Tell us your story. Yeah. So, i originally, i grew up around new york and connecticut and jersey, and i went to college down south. I saw there was really no good Chicken Restaurants like we had when i was in college down at university of tennessee, go vols. And so, i got the idea to start the, well, supposed to be a restaurant. I got on want to be a millionaire. I will start Yankee Doodle dandys as a restaurant. Not enough to start a restaurant in new york. It was enough to start a food truck. We started in 2013. It has been a battle to get to this point, i was just, just about it achieve my dream and then coronavirus. Melissa you leased a place, youre paying rent but, literally was supposed to open right now . Yeah. We were supposed to be open this month. As things were developing with the virus i was keeping eye on it, i was sort of pumping the brakes, slowing down a little bit, because i knew Something Like this could happen. Now the city is about to be quarantined and shut down. You know, were still paying rent. Were still on the hook for rent. I would really like to have someone in the city make a push to do some sort of compromise for people that are Business Owners. The city was in rough shape before this you guys live in new york. You see all the stores, retail for rent, retail for lease. I didnt think the city was on great Economic Standing before this after, im very concerned about the future of our city. Melissa that is the difference. So it is a disparity, because themation was doing very well but there are some cities like our own because of tax changes, the way the local government has spent money like drunken sailors over time, it pushed up prices and taxes. It is this perfect storm. We have a lot of empty storefronts. So i dont know, have you heard about some of the measures theyre trying to put through on a National Level to help Business Owners like you make payroll . Im sure youre listening to those but have you seen anything that is going to help you yet . Yeah, absolutely. I actually got a notice from one of the people that book us for events and things like that, they are going to be giving Small Business grants to help keep us afloat. Anything at this point would really help the cause. When you operate a business you live and die by the cash flow. We just came out of the winter. So the thing we really make our money on is events, caterings. We done a catering job with nyu four years running. They canceled on us. Trying to make ends meet are tough. Melissa Yankee Doodle dandy food truck. Your food is outstanding over the top. If anyone putting together an event, there you go. When youre back out at the truck, when you open up your restaurant, let us know in advance, i will bring the whole show. Well tell our viewers, well come on by. Maybe we can show up to give a little boost when you get back out there, josh. Thank you so much. Great to hear your voice. Melissa thank you for coming on josh. Appreciate it. Connell, you go with me. Connell 100 . We should do the show out there. Give us something to look forward to. Melissa seriously. Connell they want to know how the Small Business help will be structured in congress, loans, grants, what is it going to look like. Lets talk for a moment about big businesses. I mention this, blake burman rejoins from us the white house, alerted it to us, blake and some other reporters had a conversation with larry kudlow i suppose at the white house, blake, about what the government might do if they do decide to help businesses, how the whole thing might be structured in terms of taking equity position. Explain what you guys are talking about. Reporter connell, we could use a coffee truck on the north lawn of the white house. Youre right though. According to larry kudlow who we spoke with a little while ago, if the u. S. Government end up providing loans to some Large Companies, it is possible, and i stress, possible, that the u. S. Government could take equity positions in those companies. Now, step back for a moment. This is not any sort of new concept recently at least. You remember during the financial crisis, 20082009, aig was bailed out. Took a position through tarp. Some in Auto Industry bailed out, u. S. Government took a equity position with those companies through tarp as well. What weve been reporting last four or five hours how the Treasury Department is structuring this trillion dollar stimulus package, bailout, whatever you want to call it, 50 billion goes to the airlines and 150 billion in loan guaranties to critical sectors economy. I do want to stress connell, everything over here is fast, it is moving quickly. They are hashing things out. When i tell you there are a menu of options being provided to the president and being discussed, trust me when i tell you there are a menu of options and as kudlow said this, is just something talked about. I do want to keep it in con text. Speaking of kudlow as well for a second, quick little other bit of news. President a little while ago, last few minutes, officially invoked the National Defense act. That was put into place in 1950 during the korean war. The reason why im bringing that up, it calls for refocusing production on critical areas. Kudlow also said that he had a conversation today with two of the big three car executives. As you know the production is being paused temporarily among the big three. The executives suggested that they could use their plants in the interim to bring back companies, to bring back employees, to produce ventilators. Which would sort of be the definition or use of connell i asked the president when he reporter did he say that . Connell not explicitly but what he said were thinking about repurposing factories. Seems to be that might be what youre talking about there. Reporter honestly didnt hear that. Weve been running around. Yes, that is what it sounds like, kudlow said he spoke with auto executives. And it was their belief that they could turn those factories around and produce ventilators. Remember Vice President mike pence today in the briefing says the u. S. Has a stockpile of 10,000 ventilators there is question of when you talk about the stockpile, and what is in the private sector, at least out across the country right now exactly how many ventilators are, whether or not that might fit the need. Connell right. Reporter could be maybe Auto Industry which received a bail out of its own a dozen years might help out. Connell everybody trying to figure the whole thing out. Moving fast but at the same time maybe not moving fast enough. It is complicated. Blake burman. Melissa. Melissa would be interesting to see how that would work. Socially distant movie night. Netflix, Google Chrome joining to make isolation less lonely. Allows people to stream shows at the same time from different locations. What a great idea. The platform includes viral chat room, people engage with friend while bingewatching so you dont feel so lonely. Connell a little interaction. People need that. Need it. Dramatic ramp up in testing. Health officials deploying 47 drivethrough Testing Facilities throughout the country and were on the ground in the hardest hit states next. Melissa look at this. Two sick license from ohio, bringing cheer to the neighborhood. That is sweet, holding a private cello concert for elderly quarantined neighbor. See her in the top left of the screen. Video has been viewed 500,000 times on social media. So cute. Ah. Knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Adds to the legendary capability of the strongest, most advanced silverados ever. With best in class Camera Technology and larger, more functional beds than any competitor. The only truck that can compare to a silverado is another silverado. Truck month is the right time to get behind the wheel of the chevy silverado. Now, get 0 financing for 72 months plus 500 dollars cash allowance on all silverado 1500 crew cab pickups. Find new roads at your local chevy dealer. Could another come aroundot, the corner. Or could it play out differently . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 of patients on eliquis didnt experience another. And eliquis has significantly less major bleeding than the standard treatment. Eliquis is fdaapproved and has both. Dont stop eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling numbness or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planed medical or dental procedures. Whats around the corner could be your moment. Ask your doctor about eliquis. Melissa ramping up virus testing. The federal government is deploying 47 mobile drivethrough labs in 12 states. Fox news bryan llenas live for us in new york with more. Bryan . Reporter melissa, new york is the hard hit covid19 hit state. They are pumping out thousands of covid19 tests and the big reason why they ramped up testing because of drivethrough testing locations. This is one much four new ones that were announced yesterday. This is on jones beach in long island. Nassau county residents have been coming here by the hundreds today. So far it has been going very successfully were told. This is the third most hardest hit area in new york. Testing is about a 15 minute process. Drivers pull up. They are swabbed by health care professionals. It is tested in a lab. People are called with results. This is available by appointment only to those need the most. You call the state hotline, they will ask you questions, cross reference your health records, give you an appointment time. Nationally drivethrough test something operational in more than a dozen states but it is expands. According to the Trump Administration, 47 drivethrough mobile testing sites are delivered to 12 states and coming online starting today. As cvs, walgreens, target, others are opening up their parking lots for these Testing Facilities to accommodate them. So far there have been over 59,000 tests administered nationwide. That number expected to dramatically increase after the food and drug regulation cut regulations allowing state departments to create their own tests without preapproval. They have freed up commercial testing manufacturers to create tests by the millions to be sent to hardest hit areas first nationwide. We prioritized test kits. We put out the 400,000. That is why were seeing a 7 plus positivity rate. Well be able to expand that platform and reprioritize based on the accessibility of the other kits. Reporter melissa, back to you. Melissa bryan, thank you. Connell we have a fox business alert here, just hearing from the New York Stock Exchange moments ago, that the Trading Floor downtown will indeed close temporarily. Melissa wow. Connell this does not mean by any means, want to stress it before the details that the market is closing. What the Stock Exchange said they are moving to full electronic trading as of monday, the third which is this coming monday. Equity and options Trading Floors will temporarily close. That news just in. We can get reaction to it. Just briefly we talked the last couple days about the possibility you know, some sort of a timeout or closure of the markets. That is not this. This is similar what they did in chicago, closing the floor to electronic trading going. Melissa we have to be careful. We want to make sure our viewers understand that. So much of the trading is done electronically. It didnt make sense to have people there in close proximity to each other. At the same time having humans down there to sort through things and make trades. Then also the signal that it sends to not have people there, when you have a market already so nervous, i have no doubt was one of the biggest considerations. You dont want to see people close together. You dont want to see them in danger but at the same time, when you have markets that are moving, you know more than 1000 points in a day, you dont want to really do anything else to spook people any further. Did i hear, do we have david asman nearby . David asman is joining us. You will take over on bulls bears a short time from now. What do you think of this development . It is an interesting one as you mentioned. I mean a lot of this, the secret, Charlie Gasparino came out before, there is a dirty Little Secrets to the shots we have live on floor of New York Stock Exchange, is that the real business is done off of the floor of the New York Stock Exchange. Used to be that where youd that to go in order to buy or sell stocks. Now adays as you know most trading is done electronically. Significant deals are made as a result of traders are on the floor. This will upset that. How can you upset that more when you have a 1338 point loss like you have today . You will have losses anyway. This might actually have some kind of a positive effect in a strange way, showing the Stock Exchange is meeting the challenge. I think it is good and bad news and it may lead to longterm changes where we eventually dont see that shot were looking at right now. Connell always been talk of that. I think the concerns at open and close, we talked about, melissa. Davids right, hard to imagine a more volatile environment than that, than this, but almost because were in that environment you do make the case for the Human Element to at least try to limit some of that or make matches, get prices right. But i get why theyre doing it. Melissa yeah. I mean, i dont know. I kind of wonder because i was at the New York Mercantile Exchange when they were going all digital and traders on the floor, they couldnt imagine doing it without, you know, people down there. One of the biggest traders on the floor was eric bolling. They would sit down there and you couldnt imagine that market without the humans on the floor because, they were signaling to each other. They were really feeling the market and but business adapts. Connell sorry, david teddy weisberg, we think of particular characters you cant imagine the floor being the same without. It is going to take a little adjustment. But gee whiz, well need major adjustments throughout the country. Connell more detail, is coming in. Sorry to interrupt you, david, a member of the New York Stock ExchangeTrading Floor community tested positive for covid19. There you go. Connell they say a member has tested positive. Individuals were screened at a checkpoint at nyse. That checkpoint with tests administered by medical personnel at the exchange and recoup away from the Exchange Facility that comes in. Now the press release follows that says the Trading Floor will be temporarily closed. You have to do what you got to do, absolutely. That is what has to be done. Coming up we have dr. Oz telling us what to do if were stuck at home as this person going to be quarantined clearly must be. Anybody selfquarantined or thinking about it, has to know how they will survive in an enclosed environment like that for couple weeks. Dr. Oz will tell us how coming up. Melissa yeah. I guess, in a lot of times it is amazing that they were still open down there. Connell right. Melissa if you think about just the proximity, you know connell people almost have to be close together. Right. Melissa it is just not the kind of environment, but at the same time they will be worried about, do you really want to spook a market already spooked. Now we see outcome. Somebody there already tested positive. Hopefully they havent spread it to other people there. Melissa, you bring up a great point, there are environments still could be considered socially dangerous in terms of the virus. Im thinking of shopping. When you go gross shopping you rubble bows with people. There are problems. But you have to get food. This is an imperfect world. We are going to make mistakes as we approach how to deal with the virus but earned we cant completely cocoon ourselves in a situation where were not able to get very basics of life. Melissa look at different businesses. Were sitting in different places right now. That is unusual for us. People are used to looking at our guests on skype from somewhere else. You really separated. At the Stock Exchange im not sure that is possible. But now trading will go on. Well see how they do it remotely without anyone there. May soon see anchors on skype as well. Were talking about that internally also. It will affect everything, even what were seeing now on television. Connell to bring those two stories that david, talked about the Grocery Store and New York Stock Exchange together, Kristina Partsinevelos joins us. Yesterday she was at the Grocery Store talking to people doing shopping. Today youre down there on the floor, just for a few more days where they will have human beings for time being on the Trading Floor. Reporter we felt almost like something, they were telling us theyre doing another massive cleaning today. Normally that happens on friday. Some eyebrow were raised. Why are you doing massive cleaning every day going forward, did somebody test positive. Now were hearing news we have to get screened. We have temperature taken on the forehead when we enter building. There are no guests allowed in building. Someone got screened and turned away because they had a fever. Traders are finding out all the information as we speak, the person got turned away and didnt step on to the floor there there were over 100 people working there. Maybe there is a few dozen traders just left around me. As for the electronic trading happening on monday, everyone just found that out within the past few minutes or so there was no, i havent received a massive email. Everybody were talking about were going live on monday from home. How will we do this . Melissa not even tomorrow. It is monday. Reporter unless things change. They have to deal with one issue at a time. The fact that somebody tested positive. Maybe there will be more screening as we enter. Im not sure how you can screen anymore aside from doing temperature testing. We get stamped on the wrist. We have to fill out a form every sting fell morning. According to the New York Stock Exchange, that person didnt enter the floor. That is a story they will push forward, they will remain open tomorrow and friday that could be subject to change. Were finding this out right now. Melissa kristina, thank you. Connell look at a market down more than 1300 points today. If ever there was a picture that is an intersection of the two points of this problem, of the health aspect of it, and of the economic aspect, it is that shot on the New York Stock Exchange and as we see that go completely electronic, i mean that is really worlds colliding right there. Connell yes. Melissa you see the pandemic that has now spread, it is now impacting probably Everybody Knows someone at this point who is either been with somebody, who has been exposed one way or the other. Then you look at you know the corner of wall and broad where the economy trades. Where Companies Raise money and flourish and, you know, now they basically crashed into each other with this event. Connell surprised theyre keeping it open to kristinas point, not have it closed down as of tomorrow. I think kristina might end up being right, this is speculative at this point. Were just learning about it, you have to make decisions then all of a sudden Something Else comes out you make a different decision. The point, kristina, getting logistics in place as much as trading done electronically already, there is some Human Element. Getting all of that in place, would you think the planning has already, as Many Companies been going on now for the last week 1 2. Melissa you would think . Reporter may i weigh in . I have interviewed the president of New York Stock Exchange many times in the morning. They are prepared, should the moment come where everybody has to go electronic, she was very optimistic saying they were ready for that. When you speak to some of the traders theyre concerned clients not having the same interface in order to go through with a lot of the trades. That is the issue. Does everybody have the exact same interface and trade an buyers and sellers on both sides with what we need to make a market. Melissa thank you, kristina. Teddy weisberg is on the phone right now is hearing news as were reporting it. They will wait until monday to go electronic on floor of the New York Stock Exchange teddy, they say they were prepared, they had a plan, you could see this coming yet they wait until monday. What do you think about all that . I think theyre probably waiting till monday just to give everybody a chance to do the air is and cross their ts. Im sure they have a plan. As you might be aware i was, active member on the Trading Floor for over 50 years. We moved our operation off the Trading Floor four or five years ago, not because we anticipated this but it just worked more for our business model. I think, you know, perhaps some of the folks still on the floor, the impact might be problematical. I dont know what infrastructure they have available to them. Melissa can i ask you, let me interrupt you, you are somebody went on the floor to off the floor. Right. Melissa so you made the transition. How hard is it to do that . Because dont they have, dont they have other locations being backup elsewhere they could be trading . This is a business decision we all had to make. Some made it, some did not. I think folks that stayed there have been doing fine. For us it was strictly a business decision and we had to adapt. It was, it was a struggle because all things being equal i prefer the Trading Floor. I spent my entire career there. I love it there. We simply had to move on in an electronic world. Connell right. It is working for us now but it was a tough transition. Connell a lot has been made teddy of the transition before all of this. How to your point the world has become more electronic. We had debates and conversations what is the role now . What are we losing if anything by not having Human Element when the stock market opens or closes on daytoday basis especially this kind of environment. What are environment what are we losing. There is a role, those folks there add value, to exclusion possess, i for a second would not belittle what they do, i think that opening are importance, closes are important. A lot of Human Interaction is necessary. And required. But, by the same token. The vast majority of the world, has moved away from physical trading to pure electronic trading, the Stock Exchange tried to you know bridge that gap, and offer both products to the investing public. So, i dont think it is a negative they are staying there, just a decision we as a firm, sea port made, we wanted to move in different direction. Melissa our viewers know, maybe if you dont know. Nasdaq is 100 percent electronic. Alwaysis. Connell always has been. Melissa new york mercantile has gone electronic and New York Stock Exchange is you have cme in chicago, but. It is almost you know. Almost a dying breed. I hate to say. Well. You know, i think i think that issue is bigger than Human Element on the Trading Floor. I think that bigger issue is transparency and liquid market. What were going through here is highly unusual. I dont think this a decision that steks stec Stock Exchange e lightly, i am sure they wrestled with making this transition. Well find out monday how well, it works, but i dont have any reince to believe it wont. Connell how are you . You have been around Stock Exchange and city for a long time. This is like something many of us have never seen. I am doing fine. I am believe it or not, sequestered but not in new york, i am trapped in bermuda. Wow. My wife is from bermuda, i came down here for a normal weekend visit. Now i cant get back. Because american and delta canceled their flights, im not looking for sympathy, if you have to be trapped someplace sthie beautifusome this isbeaut. The stories are filled, there note a lot of people. Were practicing social distancing. Connell good be careful, great teddy weisberg. He has been on Stock Exchange floor for years. This is kind of ca it symbolic f what were thinking about. Melissa Health Impact then you watch it, you see the impact that it will have on the economy and finances, what a time. Connell bulls and bears starts right now. United states is going to war against coronavirus. That according to President Trump who today said it is time for more drastic measures. Will be invoking defense production act just in case we need it. In other words, i think you know what it is, it can do good things if we need it we will. David what is defense production act, it has been around since korean war, it will allow feds to ramp up development and production of medical masks eve healthcare supplies and gives Trump Administration authority from