Sharp selloff by friday. Look at the week that was with dow industrials down 4,000 points on the session. Thats 17 on the week. The nasdaq was down 995 points, 12 and a half percent lower and s p down 406 points, 15 lower on the week. President trump deploying the National Guard to new york, california and Washington State to fight what he calls the invisible enemy as more people are told they must stay home in the heavilyhit states. More companies stepping in the fight the war against coronavirus, meanwhile, they are working with the white house to manufacture mustneeded supplies and medical equipment. Plus more businesses forced to shut down as tighter rules go into place. St. Louis Federal Reserve president warning that Unemployment Rate could soar to 30 . Mornings with maria is live right now. Maria lets check Global Markets with ftse 100 in london 236 points, european indices red across the board. Cac quarante down 150 points and dax index down 243 down. In germany Angela Merkel in selfquash teen after her doctor test positive for coronavirus. The country banning groups of more than 2 people. In asia overnight, nikkei bucked the downward trend as optimism is growing there that summer olympics might not be canceled but postponed. Major averages down between 3 and 5 and a half . Oil prices down this morning as demand decreases and price car between russia and assault and battery assault and battery rages on. The following one large oneweek percentage decline. News out of washington, people are selling whatever they can sell, stocks plunges on the senate fails to agree on the coronavirus stimulus package. Here is what we know. Democrats blocked the deal last night over how much Money Companies get versus the average american. Mitch mcconnell slamming the democrats last night. We are fiddling, fiddling with the emotions of the American People, fiddling with the markets fiddling with our health care, i want everybody to understand if we arent able to act tomorrow, itll be because of our colleagues on the other side. Continues to bicker when the country expects us to come together and solve the problem. Joining us Dagen Mcdowell and Mitch Roschelle. Mitch, dagen, good to see you this monday morning, once, again, democrats saying that this is corporate welfare, dagen and businesses are coming to a halt. Dagen bailout for help and individuals is the difference between dramatic downturn and longrun depression. The House Democrats are planning to introduce their own legislation by getting involved in something thats been bipartisan negotiations in the senate. It will drag this out and could significantly lenten the time that it takes to pass a bill. Whats at issue is the democrats are demanding to attach more burdens on businesses that borrow from the Federal Reserve in this package, thats according to wall street journal editorial page. They need to get this done and done quickly. Whats important in this and we have talked about this for the last week is that this allows, this bills appropriates half a trillion dollar to the Treasurys Exchange Stabilization Fund that would allow the Federal Reserve to lend or support businesses directly through the 133 section of the Federal Reserve act. This is critical. Again, its individuals versus corporations and businesses. We need to Keep Companies solvent to prevent a banking crisis, to prevent layoffs to go from a few million to tens of millions. I dont know if the democrats understand the urgency of this. Maria well, they rejected they objected to the republicans plan to provide 500 billion for the treasury to make loans, loan guaranties and investments to support business. They do not want to look like youre helping business even though it is business that is being told to shut down and it is business being told to tell their employees to go home and stay there. And what i dont understand is businesses are the enterprises that employ people. Businesses are the profit machines that do nothing but bad when right now what we need is businesses to be propped up so you can support the economy and pay people who may not be work and staying at home. Maria ryan, President Trump advised americans to correct protocols during Coronavirus Crisis. Watch this. Critical that americans continue to follow the federal government guidelines, so important about social distancing, nonessential travel and hand washing. Defeating the unseen enemy requires the help and commitment of every single american. Maria and yet even as we are following all of the Guidelines Congress cannot get its act together. Senate democrats are blocking this bill. Yeah, its scary right now, maria. At this point businesses need a lifeline, the tax bill completely stopped out, we need to figure something out because the market is basically trading to the maria ryan, what are you telling clients this morning given the fact that we do not have any solutions here out of washington . Yeah, i have a busy morning, maria, thats for sure. Bottom line is we dont know where this practice is going to come in and i think this is my third bear market now, the worst thing to do here is panic, stock market prices and if you dont need liquidity right now and hopefully you have cash and bonds in portfolio, you really dont want to cut equities right now and not selling to any sort of market at all. Dagen maria, i want to add quick thing before you get the News Headlines that every politician needs to listen to businesses as well as the individuals who have suddenly literally overnight lost their jobs. The ceo of marriott, the company furloughing twothirds of the 4,000 corporate employees at its headquarters in betehesda, maryland, its worse than 911 attacks and financial crisis of 2008 combined. To put it in perspective. The urgency of getting something pass, getting money to individuals and loans, immediate loans to businesses of all sizes, what is in front of the democrats in the senate is a very good start in terms of the treasurys ability to take half a trillion dollars, funnel it through the Federal Reserve and get loans to those in need immediately, businesses, they shouldnt have restriction. Maria maybe when they see jobless claims numbers on thursday, dagen, maybe then they will understand what is happening across america. Since last week we had jobless claims numbers of 281,000, but this thursday we are expecting jobless claims between 2 and 3 million, dagen. Dagen and by then maria maybe that will get them to understand the importance. Dagen by then its too late. Mark my words, something needs to get done today or tomorrow. By the end of next week its too late for a lot of businesses, they will be out of businesses. I agree. Maria businesses that need cash right now and here is the latest on the coronavirus that we know. President trump has declared war on this virus activating the National Guard in new york, california and Washington State thats to fight spread of highly contagious disease. Governors will be in charge of the guard. The death toll in new york right now above 150. That is about 5 of coronavirus cases across the world. Meanwhile german chancellor Angela Merkel now in selfquarantine this morning after a doctor who gave her a vaccine tested positive for coronavirus. Her office says while the contact was brief merkel will remain isolated at home as precaution. Officials say shes being tested right now. The summer olympics lose two big competitors, canada and australia say they will not send athletes to tokyo amid the coronavirus pandemic. The International Olympic committee will decide whether to postpone the games in the next 4 weeks we will know more. Tokyo olympics president and japanese Prime Minister have said a delay maybe quote inevitable. Games schedule today start on july 24th. Bigtech companies this morning stepping up to fight coronavirus, apple, microsoft, detailed contributions, donations of medical supplies, supplies like mask, software to track the spread of the virus as well as money. Microsoft president brad smith tweeted this, 5 pallets of personal equipment arrived as the Company Works to get muchneeded supplies to healthcare workers writes brad smith. Treasury secretary Steven Mnuchin will join me live at 8 00 a. M. Hour to talk more about the coronavirus stimulus package, dont miss that. What is being done to keep the economy aflout . All that right here, stay with us. More than ever, your home is your sanctuary. Thats why lincoln offers complimentary pickup and delivery servicing. Well pick up your vehicle and leave you with a lincoln loaner and the peace of mind that helps you focus on what matters most. Thats the power of sanctuary. And for a little extra help, you can now purchase a new lincoln remotely, and defer payment for up to 120 days. Maria welcome back, markets are selling off, take a look at futures, 565 points, we are at limit down, dow reaching lowers levels since 2017 and we will very likely see further losses when the opening bell ring this is morning because we are at limit down right now. Coronavirus also pushing the price of oil lower, take a look. Oil indicates a demand situation. Youve got oil at 22. 33 a barrel. Down 33 cents a barrel. Mitch roschelle and Dagen Mcdowell in new york. Mitch, interesting to look at the oil market because on top of all the worries of coronavirus and weaker demand, youre seeing fight between russia and saudi arabia where russias plan includes killing off the u. S. Shell industry with these prices . I think the last thing that that economy needs and one of the other things when you think about the stimulus package, we talked about all businesses. There hasnt been enough discussion about the shell industry in the United States and what support they are going to need to get through this mess because the problems dont have nothing to do. Right now fight between saudi arabia and russia. Maria well, also disagreement in terms of this strategy. You know, dagen, you talked about the oped in the journal the other day, rethinking the coronavirus strategy and that keeps coming up. St. Louis Federal ReserveJames Bullard, says Unemployment Rate could hit 30 because of the virus and you have people like steve bannon yesterday on my show on fox news says shut the country down. We will be talking with bill at kin coming up and he says, look, you need to take a break, 30 days, shut everybody down, flood the country with cash. We are talking about that in a moment with phil to talk about putting money to work, but whats your take in terms of the strategy today and what this looks like when we get through is this . Dagen the problem that youre seeing in the markets is anybody investing cant see the other side of it. They cant really see the next few days. The president we are talking about a 15day period that started last week. Many people think it would go a great deal longer than that and you will have, say, governor of new york talking about months and months and months that its going to take and its a great burden on our leaders whether its state level or National Level to give some certainty to this to businesses who are trying to still operate, to individuals and to anyone in this country. This is what happens. One thing that needs to be certain is the amount of money going to individuals immediately but also the lending that the Federal Reserve could do and the backstops it could put in place to support this economy and this grave period in our history and thats what the holdup is. Maria we are going to know whether or not this strategy is working. Chad wolf, the Homeland Security secretary came on yesterday and said we will have enough data by midapril, in terms of shutting down various states but there are people who want a complete shutdown. Bill will be joining us and thats exactly what steve bannon said yesterday that the country needs to be flooded with cash and we are not seeing the kind of urgency that we need. We certainly didnt see the urgency from democrats last night, mitch. Mitch 100 , the one that the senate was having is Small Businesses and i spent a lot of time in the last 2 weeks speaking to Small Business owners and empathize with them and advice some of them and 60 Million People in this country employed by Small Businesses right now that are just choked off and have no lifeline and we have to do something right now to get Small Businesses to pay employees and stay afloat so theyll stay on business on the other side whenever that is. Maria all right, we will take a short break, when we come back we will take a look oil, stock markets, more mornings with maria after this. Shouldnt you pay less when you use less data . Now you can. Because Xfinity Mobile gives you more flexible data. You can choose to share data between lines, mix with unlimited, or switch it up at any time. All on the most reliable wireless network. Which means you can save money without compromising on coverage. Get more flexible data, the most reliable network, and more savings. Plus, get 300 off when you buy a new Samsung Galaxy s20 ultra. Thats simple. Easy. Awesome. Call, click or visit a store today. Maria welcome back, protecting the United States from coronavirus and bad information. This weekend on sunday morning futures i spoke with acting Homeland Security secretary chad wolf who told us about all of the border closings. He also said while theres not a full shutdown on the u. S. On the agenda right now officials are working hard to combat misinformation about potential moves, watch. Is the president considering a full shutdown of the country for a period of time, sir . Not at this time. The president , again, the Vice President and the task force has been very aggressive and forwardleaning and providing a number of guidance, a number of information to the American Public. We have 15 days to slow the spread. Maria we have disinformation coming out of china but when people see reports it might be cyber fraud, right . Absolutely. We have seen a number of reports and ive personally gotten in contact a number of times of text messages, the screen shots going around saying i know someone at dhs and they say we will have a National Lockdown or a national quarantine. I will just say thats absolutely false. Its not true. Its part of Disinformation Campaign and what we know whether its russia or other cyber actors they lie to discord any on any controversial issue, doesnt have to be elections, it can be any issue and we are seeing that with the coronavirus. Maria no surprise that russia is behind this as well as china. Im with dagen, mitch, ryan. Any way you look at it, you are talking about country thats standing still. People would like to see even more of this. New york and california lockdown overnight beginning at 8 00 oclock in new york and california has been in is settle at home state. It certainly feels that way but people would like to see even more. Mitch yeah, and the Economic Cost of that and the uncertainties surrounding that is the thing that has the market completely on meltdown mode. Just on the cybersecurity point. I worry about this because i think American Businesses and consumers are incredible by vulnerable right now to cyber risk and we are not as vigilant as we should be and right now hard to be vigilant when we are so compromised. Maria yeah, these bad actors piling on the quite now knowing that we are at such a critical point, dagen. Dagen Department Officials warning based on Jennifer Griffins reporting from the news channel, planning online rumors that the federal government was going to impose marshal law and the National Guard was being called upon to enforce it. Online trolling, online lies from foreign bad actors but one thing i want to stress the reason that a broader kind of stay at home order for other states, other than say california and new york, the two largest, might be needed is because people are not following guidelines. You had people in washington, d. C. In the last few days going to see the Cherry Blossoms. You saw it here in new york city before they had to shut down the bars and restaurants a week ago, little more than a week ago, people were flooding bars and restaurants despite being told by the governor and federal officials that you shouldnt congregate in crowds. So thats the issue, is people are not following recommendations. Theyre not staying at home. Even yesterday new york city is full of people and you have the governor here is now having to impose distancing for parks in the city and throughout the state. Its really incredible that people dont understand the seriousness of this until they have