school districts across the country are cancelling classes due to the outbreak. i'm sandra smith. >> jon: i'm jon scott in for ed henry. the coronavirus cases cropping up in 27 states and washington, d.c. the number of deaths rising to at least 19 in this country. this comes as a grand princess cruise ship is expected to dock in oakland, california. health officials warning americans the outbreak is starting to spread more quickly. >> we're having obviously an acceleration of cases now if you look at it. every day we get more and more. we're seeing community spread in certain regions of the country. we don't want to alarm people but given the spread we see, anything is possible and that's the reason why we have to be prepared to take whatever action is appropriate to contain and mitigate the outbreak. >> sandra: live fox team coverage for you. alex hogan has is coverage in new york. we begin with jonathan serrie live in atlanta for us. >> good morning. as we are awaiting the grand princess docking, two crew members on that vessel transferred to another cruise ship, the regal princess. they are showing no symptoms and did this transfer more than 14 days ago. but it still concerned public health officials who delayed that ship from returning to fort lauderdale, florida, until tests on the two crew members came back negative. the third ship, the carnival panorama was delayed coming into long beach, california by a day after one passenger got sick on the cruise. coronavirus test on that passenger came back negative. public health officials are asking americans who recently took a river cruise in egypt aboard the m.s.asari to self-quarantine. the ship was quarantined after a third of the 150 passengers and crew tested positive for coronavirus. citing an abundance of caution senator ted cruz is isolating himself at his home infected after he found out he shook rands with a man with covid-19. the white house does not believe either president or vice president was near the infected person at a u.s. marine tested positive for covid-19 after returning to virginia after an overseas trip on official business and undergoing treatment. earlier infections were reported in two other u.s. service members, one in south carolina, the other in italy. the u.s. army is now restricting u.s. soldiers from traveling to or from either of those countries trying to slow the spread of coronavirus among u.s. forces. >> sandra: we continue to learn a lot more this morning, jonathan, thank you. >> jon: here in new york governor andrew cuomo declaring a state of emergency to contain the spread of coronavirus as the number of cases increases. >> it's been a tumultuous week, massively disruptive. for society and the economy. >> jon: alex hogan joins us with the latest. >> people are waking up to canceled classes, businesses and lawmakers trying to prevent the spread. more than 100 people in new york state have covid-19. it's up from 89 people on saturday. most of the cases stem from an outbreak in west chester county linked to a 50-year-old lawyer. his wife speaking out for the first time thankful for the support her family received. as for my husband, he still remains critical. i and my family remain very hopeful for his full recovery. the purchase of more supplies, workers and more testing. the governor continues to say the number of cases will increase as more testing and the testing is crucial in control the outbreak. starting today, manual testing of 75 though 80 samples will begin at a laboratory in lake sussex new york. he is calling on the fda to allow private and state labs to use tests. new york mayor bill deblasio telling commuters to stagger travel time and avoid packed subway cars. the subway cars even running reminders to wash your hands and stay healthy. older americans and those with immune -- some places are canceling classes and telling students that colleges -- these colleges will only allow classes online. jon and sandra. >> jon: thanks. >> sandra: italy is taking some of the toughest measures yet to prevent the spread of the coronavirus quarantining 16 million people in the northern region of the country. there are more than 7300 confirmed coronavirus cases in italy with at least 366 deaths. that is the highest number of deaths from the virus outside of china. and now to the other top story we're for you this morning. voters in six states head to the polls tomorrow for a mini super tuesday. michigan the top prize with 125 delegates up for grabs. biden gaining momentum after a strong super tuesday. is tomorrow the make or break day for bernie sanders? let's give that question to byron york. is this bernie's make or break moment? >> it is pretty close. it's the first time we've had a one-on-one race in this whole primary contest. remember, last week we still had michael bloomberg, elizabeth warren in the race. now it is that one-on-one race that a lot of democrats wanted. bernie sanders won michigan in 2016 in a one-on-one race with hillary clinton. he won washington state in 2016 against hillary clinton. but it appears right now that both of those states, while he may be ahead, are actually tightening quite a bit. >> sandra: brand-new endorsements for joe biden heading into the mini super tuesday. here is cory booker endorsing biden. the answer is to reignite our spirit of common purpose. joe biden will show there is more that unites us than divides us. he will tackle our worst challenges. kamala harris now endorsing biden in the video clip. >> i am with great enthusiasm going to endorse joe biden for president of the united states. we need a leader who really does care about the people and who can therefore unify the people. and i believe joe can do that. >> sandra: what do some of these key endorsements mean for joe biden? >> it just shows more unifying behind biden. the democratic establishment, former opponents, everybody sort of getting behind him. bernie sanders featured an endorsement from jesse jackson in michigan but that is more of a figure from the past than kamala harris or cory booker. the big problem here is the math in the democratic race. the democratic party has a system called proportional allocation of delegates. it is not a winner take all system. if you win a state but you win by just a little bit you only get a few more delegates than the other guy. now, joe biden has a lead of about 90 delegates right now, which seems like not all that much. it is doable. but remember, bernie sanders won michigan in 2016 by just a single point over hillary clinton. he got 67 delegates and she got 64 delegates. for winning a big state, michigan, bernie sanders picked up a net four delegates. it is hard to make up a big lead if you can win a big state and only get four more delegates than the other person. >> sandra: sanders might win some of those states tomorrow he needs to win by a large amount. you mentioned jesse jackson endorsement for bernie sanders. let's listen. >> people like bernie sanders, can win. will win, must win. bernie can win, will win, must win. when bernie wins, healthcare wins. love you guys. >> sandra: final thoughts on that as we head into another big day for the race for 2020 tomorrow >> sanders says this is not make or break for him. he will stay in it. the one thing he does have, he has this significant but not huge group of intensely devoted followers. they will stick with him whatever happens on tuesday. >> sandra: byron york from "the washington examiner", thank you. and tonight on fox news channel bret baier and martha maccallum have a town hall tonight at 6:30 p.m. eastern time with bernie sanders. >> jon: in the meantime hillary clinton is taking aim at bernie sanders. >> i will support the nominee of the democratic party. i do not think he is our strongest nominee against donald trump. >> is that an endorsement of joe biden? >> i'm not endorsing. >> there is nobody left. >> there isn't anybody left, that's true. >> jon: is the former democratic nominee just sore over how the 2016 race happened or does she have a point? >> sandra: we'll speak to passenger on board the grand princess ship where nearly two dozen people have tested positive for the coronavirus coming up. getting older shouldn't mean giving up all the things she loves to do. it should just mean, well, finding new ways to do them. right at home's professional team thoughtfully selects caregivers to provide help with personal care, housekeeping, and of course, meal preparation. oh, that smells so good. aw, and it tastes good, too. we can provide the right care, right at home. stays at choicehotels.com and earn a free night. because when your business is making the most of it, our business is you. book direct at choicehotels.com >> people are turning out and they're turning out to try to pick the person they think would be the best president but also the person as our nominee who would most likely be able to beat trump. clearly the trump campaign and trump himself know who they don't want to run against and know who they do want to run against. >> jon: hillary clinton weighing in on who she thinks will be the best democratic candidate to go up against president trump come november and it is not bernie sanders. she also slammed the senator and his supporters for their actions during the 2016 race against her. but the former democratic nominee stopped just short of throwing her endorsement to joe biden. let's bring in former white house chief of staff former governor as well, john sununu. governor, good morning to you. time is supposed to heal all wounds but it sounds like four years isn't enough for hillary clinton when it comes to bernie sanders. >> well, it sure sounded like that but i think as almost everything the clintons do, there is a bigger purpose behind what's going on. i know you had michael goodwin on earlier and he thinks the biggest purpose is that she is angling to be the default nominee of the party. but i think there is a slight variation to that. i think she is actually angling to be the vice presidential nominee hoping the party will understand that if biden is the nominee, they have to have a backup there that the public has confidence in, at least the democratic side of the public has confidence in, might do the job. since the party laid hands on her last time as the nominee she probably feels she can make the credible case that she would be the better alternative if biden has to yield control of government. >> jon: she also sort of relitigated the 2016 election in that conversation. >> as always. >> jon: play a bit of that four. >> his failure and the behavior of a lot of his top aides and certainly many of his supporters up to the convention, at the convention, and even up to election day was not helpful. i had thought we would unify. that's what we had always done before. >> jon: talking about bernie sanders. that doesn't exactly sound like a unifying statement in and of itself. >> well, again, i go back to my original premise. this all had a purpose. and the purpose was to reinforce biden getting the nomination. if that fails to reinforce the fact she would be the better alternative, not bernie. and then to reinforce the fact that if biden does get the nomination, she would add to the ticket more than anyone else. it's all structured around the clinton agenda, not the agenda of the democratic party. >> jon: she was obviously a failed presidential candidate in 2008 and 2016. do you really think the party would stomach her as a vice presidential candidate? would she want to be vice president? >> look, there is still a long time for public debate between biden and sanders. and if biden begins to -- begins to fall apart even more than he has fallen apart with his gaffes to date, the party is desperately going to be looking for a third alternative and that's what she is counting on. either being the alternative at the top of the ticket or being the alternative as number two. >> jon: john sununu, former governor and former white house chief of staff. thank you. >> sandra: fox news alert for you. north korea firing short range projectiles a week after taking heat for firing other projectiles. calls for a vaccine are increasing for coronavirus. one texas company claims to have the answer. its ceo will join us next on the show. >> for now the answer won't be a vaccine. if in fact we go into a cycle where we come back next year, then we likely would have some opportunity for a vaccine. my psoriatic arthritis pain? i had enough! it's not getting in my way. joint pain, swelling, tenderness... ...much better. my psoriasis, clearer... cosentyx works on all of this. four years and counting. so watch out. i got this! watch me. real people with active psoriatic arthritis are feeling real relief with cosentyx. cosentyx is a different kind of targeted biologic. it treats the multiple symptoms of psoriatic arthritis to help you look and feel better. it even helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections and lowered ability... ...to fight them may occur. tell your doctor about an infection or symptoms, if your inflammatory bowel disease symptoms develop or worsen... ...or if you've had a vaccine, or plan to. serious allergic reactions may occur. i just look and feel better. i got real relief with cosentyx. watch me! feel real relief. ask your rheumatologist about cosentyx. we are t-mobile the first to go unlimited. first with no annual service contracts. first with taxes and fees included. now t-mobile has the first and only nationwide 5g network. reaching over 5,000 cities and towns and over 200 million americans. and t-mobile is not charging extra for 5g access. because this isn't our network... it's yours. >> jon: a push worldwide for a coronavirus vaccine might soon bear fruit. texas-based genetic engineering company says it has a vaccine for the virus and will soon test it on animals as required by the u.s. government. the ceo john price joins us now. a lot of people are pushing for this. obviously your company is making some pretty significant claims. how confident are you? >> we're confident in the vaccine, the quality of the vaccine completely. the end result will be what the government wants to do in terms of testing. >> jon: how were you able to develop this so quickly? >> we have a platform that is based on an antiviral process and many years ago when mers first came about we developed a vaccine for mers. the disease for -- that we're working with now covid-19 has a tremendous number of similarities between this and mers. so what we were able to do is take the knowledge. >> jon: it is a variant of the sars virus and the mers virus, is it not? >> correct, the nih calls it sars 2. >> jon: so why is it? the coronavirus has been around forever. why is it that all of a sudden this covid-19 is afflicting so many people and so often fatally? >> well, that's about the body's immune system. that's about the way that diseases change their character. if you go back the 1917, 18, 19 flu is no similarity to the current flu. so it is just how diseases morph for want of a better word. >> jon: so if you have a vaccine and if the vaccine is workable, you will be testing it on animals. that's the requirement. how long until the human population might be able to take advantage of it? >> that's always the 100 million dollar question. the earliest that we think would be the end of the year. the latest would be 18 months. but we think that we could -- depending on the approval process of the government, get something in 2020. >> jon: is there any kind of way to fast track the approval process? the world is waiting for a cure. >> sure there is. but again, that's a policy decision for the government. we call it now -- yesterday was the first time i heard people say it's a pandemic. if it's truly a pandemic then you can pretty much do whatever you want. the process is roughly four weeks for the first animal testing and then you go into human trials. and that's the part that will be determined by the government. >> jon: john price of the texas company grephics. we wish you well with that vaccine. thank you, sir. >> sandra: all eyes are on wall street now as a result of growing coronavirus fears. on the opening bell maria bartiromo will join us as stock index futures are down more than 1200 points this morning over growing concerns. maria bartiromo will be joining us live next. new app called rakn that gives me cash back on everything. that's ebates. i get cash back on electronics, travel, clothes. you're talking about ebates. i can't stop talking about rakuten. pretty good deal - peter sfx [blender] ebates is now rakuten, sign up today. are your asthma treatments just not enough? then see what could open up for you with fasenra. it is not a steroid or inhaler. it is not a rescue medicine or for other eosinophilic conditions. it's an add-on injection for people 12 and up with asthma driven by eosinophils. nearly 7 out of 10 adults with asthma may have elevated eosinophils. fasenra is designed to target and remove eosinophils, a key cause of asthma. it helps to prevent asthma attacks, improve breathing, and can reduce the need for oral steroids like prednisone. fasenra may cause allergic reactions. get help right away if you have swelling of your face, mouth, and tongue, or trouble breathing. don't stop your asthma treatments unless your doctor tells you to. tell your doctor if you have a parasitic infection, or your asthma worsens. headache and sore throat may occur. could you be living a bigger life? ask an asthma specialist about fasenra. >> sandra: fox news alert now. we are just seconds away from the opening bell on wall street. all eyes will be on the big board when trading begins this morning because overnight a quadruple digit sell-off. maria bartiromo is the anchor on mornings with maria on fbn. overnight growing fears of the coronavirus weighing on stocks and triggering a halt in overnight trading. one is expected on the open here this morning. >> we look at a decline of 1500 points initially we were talking about 1255 only because of that was the level that was the limit. you couldn't decline any more than 5%. there are certain limits in place. there are three different levels of these limits so there is another limit in place now. this market could be down, as you can see, 2,000 points right in the first hour of trading or so. it has to do with the core, sandra, but also with the oil market. and this is something you have studied for years. i know you were on the floor watching the oil traders for years. but oil prices collapsing. this really is a crash, 20% overnight is really one of the big issues. when you see oil prices collapse this much, that could lead to defaults, bankruptcies in the oil sector because certain oil companies are expecting basing their business on a certain price of oil. that price is about 55 barrel. we're talking about $30 a barrel oil. >> sandra: an historic drop we're seeing overnight. prices down over 30%. the trigger, the circuit breaker on wall street. the sell-off has topped 7% in the dow. we have to watch the s&p and nasdaq as well. that's the first limit for trading to give the background on this maria, those circuit breakers are put in place to prevent a chaotic sell-off on wall street and to see a more measured sell-off. trading would be halted after a 7% plunge for 15 minutes. traders and investors time to gather their next move. >> you want to have a mechanism in place that the market cannot lose all of its value in a day. and lose all of its value or much of its value in just a little while. 7% is the first one. three different levels of circuit breakers. these breakers were put in place after the 1987 crash to help investors and market makers gather buying interest if they've got -- if you are a market maker and you get in in the morning and all you have are sellers, you need something to offset that. they put the circuit breakers in place when a market declines 7% you can stop, no more activity that can happen until the market maker looks at the activity in front of him or her and brings in some buyers to more balance the situation. that's what these circuit breakers are all about. >> sandra: we watched the circuit breaker on the s&p 500. it's calculating to friday. friday it closed at 2972, you are looking at 2764. the market is watching that for the circuit breaker to officially be triggered. big picture you look at the biggest sell-off since 1991 in the u.s. stock market, maria. you are talking about the dow wiping out gains for the year and dropping to the lowest level growing fears. how much of this is on actual impact to the domestic and global economy? >> this question is spot on. something people have to understand. when you are in a situation where you need to raise cash, when you need to sell, you sell what you can sell. you sell where you have lick -- liquidity. you want to sell what you can sell. it doesn't necessarily mean people are so negative they want to get out of everything. no, they want to raise cash and sell what they can. often the most liquid stocks. i think we're setting ourselves up here for at some point incredible buying opportunity. you look at some of the oil companies, for example. exxonmobile that has a fantastic balance sheet and huge revenue. it's down 15% today. there are others down 11 and 12 percent. at some point investors will realize the people threw the baby out with the bath water and it's overdone. we're looking at a little of that this morning. not only that, as oil prices collapse look what it does for the consumer. one industry report says every dollar decline in the price of oil equates to $100 million a day or 36 1/2 billion a year in lower energy cost. so at some point the drop-off in oil will be a real positive for consumers and businesses in particular the airline sector, the cruise sector, the sectors that are getting their head taken off from them. at this point we're in the middle of it and looking at a reaction to a situation in the oil markets. also don't underestimate the reaction to interest rates. the 10-year rate falling below 5/10 percent. record historic numbers and what's tied to mortgages. at some point you'll see a refinancing boom where people will say i have to refinance. look at 10-year, 4.8%. that's a huge opportunity. i'm trying to look for the silver lining. we're in the middle of a sharp sell-off, it is reacting to the increasing number of coronavirus but also the collapse in the price of oil. when oil declines sharply people see it as a recession indicator. if oil is down where it is it must mean global demand has slowed sharply. >> sandra: you are talking about the price of oil. a big move to talk about a 5, 10% move in oil prices. you're talking about a more than 20% drop in a single trading day in the price of oil because the talks crumpled between saudi arabia and the big producers, russia and others. that oil price drop will -- it will ripple through the stock market. you talk about some of the big oil companies, emergency companies, halliburton, pioneer natural are seeing 22 or 23% sell-off in the trading session. it is really unbelievable to watch. officially, the halt in trading has been triggered. the s&p 500, the circuit breakers has dropped more than 7%. so trading has now stopped at the open for 15 minutes. trading will resume after 15 minutes. and then you look for a level two halt which means it would have to drop 13% from friday's close and then trading would stop again for 15 minutes and this goes on until 3:25 p.m. eastern time. just over a half hour before the closing bell on wall street. an historic day where we see the stock market really showing the fears that are out there not just here but globally. >> the collapse in oil with lead in bankruptcies. the small companies are leveraged. huge debt loads they have to pay back their interest on that and if you've got the price of oil half of what you expected, you will default. and you will have a problem and you may very well see bankruptcy. that's what this is about. we all know the economy will slow pretty substantially going into the rest of the year because of coronavirus. we didn't know the add-in pressure of oil. remember during the financial crisis when there were reports that china was talking to russia well look, the u.s. is in the middle of a financial crisis. let's pile on right nou. frankly there is a little of that going on. russia, let's pile on the u.s. right now while they have the coronavirus process going on and the problem going on. russia says i won't agree to production cuts from opec. i would rather see the oil price plunge and pile on the u.s. don't underestimate that. there are foreign policy fights going on here. >> sandra: elon musk of tesla with a different take on the market reaction or panic, however you look at it. he tweeted out. the coronavirus is dumb. that is a major voice on wall street. a major voice in business. the president was asked about the dow during his cdc visit back on friday. before the sell-off this morning. here is what he is saying about it. >> president trump: i've heard all about this could be a big deal before it happened. who would have thought? look how long ago is it, six, seven, eight weeks ago who thought we would have this subject. we would hit 30,000 on the dow like clockwork, right? it was right up and all of a sudden this came out. >> sandra: that's the president. we know he does watch this closely. >> absolutely. i would only add to saying we've got major institutions responding. the new york federal reserve added liquidity to the market expanding their operations up to 150 billion up from 100 billion. when you see the federal reserve of new york adding stimulus, adding to their operation so that the borrowing from banks can go faster and easier, then you see this is a serious situation. the fed is getting involved. what is happening on wall street today, a lot of people are talking about a fiscal response. will congress come out with some help for the airlines and cruise ship operators? when i spoke with kevin mccarthy said we don't want to do a major fiscal response but we may want to do something surgical, he said. his words, not mine. in other words, are they going to be giving some kind of money or stimulus or something to some of these hard-hit industries like the airline industry? we're waiting on that. it's one thing that could stop this. australia overnight came out with a stimulus .5/10 of percent of the entire gdp of australia. if we see a coordinated effort on the parts of government across the world in terms of a physical stimulus it turns this around as well. >> sandra: you have school kloention, big sporting events and convention centers canceling events. the mayor of indian wells on the economic impact of canceling a big tennis tournament. >> it is bad for the employees of the restaurants and hotels. i mean, they're not going to get money this normally get. 80% of their income in the winter comes from november to may for the restaurants and all these people, they are all going to lose probably 30% of their business during the busiest part of the year. it is a tragedy. it is unfortunate. >> sandra: you have to ask yourself how many neighbors, people and parents, how many work colleagues you have spoken with in the past several days, the past couple weeks who have canceled events. said they won't go to that movie or play it safe. >> i have three conferences cancel on me. i was supposed to go in one in washington, new york and l.a. they are pushing the conferences back. people don't want to travel right now. south by southwest, that brought in millions for the city of dallas. that's done right now. again, it is about expectation and clarity. once the market has a better expectation of how bad the coronavirus gets, they will be able to adjust in terms of what to expect on earnings. we haven't started the testing well enough and that's why we don't really know. i've been saying on the air tens of thousands leading to hundreds of thousands of cases are coming. people saying why are you saying that? i'm trying to put reality out there. this is what the people that i'm speaking to who understand and know what's coming are telling me. i want people to understand yeah, we'll see more cases. that doesn't mean it's a death sentence. most people will get flu symptoms. if you are elderly or pre-existing conditions it could be very severe but we need to understand what's coming so we aren't surprised. >> sandra: we have alex azar. cruz and one other senator is self--- we're watching that action on wall street or the lack there of. a trading halt is in place due to a sell-off of more than 7% in the s&p 500. trading halted for now. maria bartiromo. thank you for joining us. we have charles payne, alex azar and stuart varney and others joining us. stay tuned. we'll be right back. n be tough. finding understanding doesn't have to be. together, we can create a kinder, more inclusive world for the millions of people on the autism spectrum. go to autismspeaks.org (professor) sthe product of sound pressure tand a component of the partial velocity at a point. [sounds] kazoo sound ♪ >> jon: fox news alert. major drops on wall street this morning as it reacts to the coronavirus. the dow down nearly 1900 points at the opening bell and it has frozen there as the circuit breakers that sandra and maria were talking about just now have kicked in and put a halt to trading. it is set to resume, we understand, three minutes from now. so let's bring back maria bartiromo, the anchor of mornings with maria on fbn. she rejoins us once again. you were talking about some kind of federal intervention and obviously washington, the president will all want to do something. it is that goldilocks approach. it has to be just right. you mentioned the airlines are taking a beating but they are also going to be enjoying the benefits as you pointed out of lower fuel prices. that is their major expense. >> planes are empty, business is plummeting and that's one of the issues here. when i spoke with kevin mccarthy yesterday and asked him what congress can do and what will the administration do? coming out with a tax plan 2.0? we talk about a surgical effort. perhaps looking at the industries hardest hit in terms of this coronavirus and giving them some kind of stimulus. one industry that comes to mind is the airlines but also the cruise line operators and, of course, the banks are also plummeting this morning. look, i just want to say that many guests who come on the show on fox business and say look, in one year this market will be higher than it is right nou. it is always interesting to be in the middle of it and see an 1800 point sell-off and think the world is coming to an end. it is not. i just want to say at some point there will be important deep pocket investors who see it as a huge buying opportunity and they'll prop the market up. because you look at a company like i mentioned earlier exxonmobile won't cut their dividends. they may cut cap spending and cost saving moves but they won't do something that changes the situation entirely for investors. some of this is a huge overreaction. i also think it is worth looking at what has taken place in the collapse in oil prices. 20% is a crash for the price of oil. that's what you are seeing this morning. that has everything to do with russia. you know opec came out last week and said we want to cut production and russia said no, i'm not going to cut production. i'll continue producing. they wanted to cut production to get prices up. what did they do? russia says i won't cut production. the saudis say i'll cut prices right here. saudi arabia cut the price of oil and it causes this fight and massive sell-off in the price of oil. that i would say is more important to markets today than the coronavirus. this sell-off in the price of oil. when you have a sell-off in the price of oil and a sell-off in some of these oil company fortunes, that could lead to defaults. that could lead to bankruptcy. we have had the shale boom. what does russia wants? russia wants to put an end to the shale boom and they want to put the shale companies out of business. that's exactly what their plan is in terms of saying i won't cut production and yeah, that's fine, cut prices. that's what this is. they want to put an end to the booming shale production the u.s. has been enjoying and basically becoming independent in terms of our own production here. that's why the market is selling off. it has more to do with the price of oil than coronavirus. >> sandra: just to remind viewers what we're watching here. i believe it just started a few seconds ago. trading resumed on wall street. circuit breaker was triggered, maria, after the s&p 500, 500 stocks, a broader snapshot of the u.s. stock market fell -- hit that 7% threshold which triggered a circumbreaker and halted trading on wall street for 15 minutes. trading resumed at 9:49 a. eastern time after the 15-print break. all indications are the selling continues. the next circuit breaker is triggered is if the s&p 500 were to fall 13%. you are talking about that would be an unprecedented drop on wall street. right now, however, 7.7% is the drop on the big board. >> we'd need another 6% or so. the circuit breakers are put in place so trading doesn't completely collapse and you have a chaotic situation. they try to keep things calm and orderly and why they stopped trading for 15 minutes. you have to believe in order for an opportunity to become obvious, the market has to pretty much, you know, have a vomiting out of everything. you have to have a real ugly day like we're seeing today for some people to say these prices are unrealistic and the world is not coming to an end. we shouldn't be seeing these stocks at these certain prices. >> sandra: it's coronavirus fears and also the sell-off in oil. oil plunging more than 30% overnight, down more than 20% in trading today. that's leading to a lot of big energy and oil stocks and shale stocks down double digits in today's trading session. just reading from the a.p. the latest write-up. global stock markets. they're pointing out that it is not just here at home. the stock indexes in britain and germany were down by almost 7%. japan's benchmark closed down more than 5%. australia has lost 7.3%. shanghai market in china was off 3%. europe was down big leading into this sell-off, maria. this is not just heavy selling in the u.s. stock market. this is at home and abroad. >> people are looking at this as a global slowdown and coronavirus and the price of oil is an indicator. when you see oil prices down as much as they are, it's indicating a recession is at hand. don't forget the level of interest rates. when you look at the 10-year yield this is the interest rate that is most aligned with mortgages. so those rates have plummeted. you are talking about below 5/10%. record low rates. you're borrowing money for nothing and not having to pay much interest. >> sandra: that's a flight to safety. people are doing that because they fear what's happening. will they necessarily take out a new mortgage and buy a new home? >> depend what the demand looks like. if you are in the market you have great rates to do it. another indicator of recession, when rates are plummeting to levels like this it's an indicator that perhaps a recession is on the horizon. what would turn this around? one thing that would turn this around is a global response from governments across the world. i'm talking about fiscal responses. some analysts this morning are talking about liquidity -- fiscal response so far is out of australia, which announced a stimulus package which is 5/10% of gdp. updated u.k. budget is also needed. that's expected on wednesday. then, of course, you need to see some global coordination where governments will come together to create some stimulus for an economy that is clearly slowing down. that's the underlying worry here. coronavirus cases are going to tick up, yes, this is much more a function of an economy that is slowing down and two major indicators saying maybe a recession is coming. >> sandra: to be clear why we talk about the sell-off in the oil market playing out this way. sometimes they move inversely, right? oil prices go down. stock market might go up for consumers to have cheaper gas prices. in this particular case you talk about the big oil producers not cutting production and leading to the price declines we've seen oil dropping to nearly $30 a barrel. that has big implications for the oil producers and why some of the stocks are getting hit so hard today. the chief investment strategist from charles schwab is quoted, the failure of the fed move to staunch the market bleeding shows central banks are ill equipped to handle the economic fallout of coronavirus. the fed cutting rates by a quarter or half point does not create a vaccine and does not stop people from canceling their vacation. >> that's the whole point. there is a feeling the central banks of the world can't do much else. you go to germany and you have negative rates. in the u.s. you talk about 5/10% on the 10-year. bottom line the central banks of the world can't cure coronavirus. the federal reserve won't be able to do anything for this bug that is fatal in some corners of the population. so now we know that the central banks of the world have limited power. what else is needed? that's where the conversation has turned to a fiscal response. some kind of a stimulus program to actually help industries out there like the industries that are getting hit hardest because of the coronavirus. that could mean a tax cut, that could mean some kind of tax relief for some of these industries like the airline industry, among others. yeah, the federal reserve will be meeting in the next two weeks, march 17 and 18. the market is expecting an emergency cut on top of an emergency cut that we saw a week and a half ago. another emergency cut. again, the question becomes what is that going to do? the fed has to come up with new moves to actually create stimulus. it is already doing that by buying more securities, expanding the federal reserve balance sheet. they started doing that. like i said today the new york federal reserve expanded its program so that borrowing would go faster and more effectively from what's called the repo market. the federal reserve expanded that market today, created more stimulus. not much more the fed can do. >> jon: the market is bouncing back just a little bit reducing its losses at the moment at least about 1640 down. it was down nearly 1900 when trading was halted a little while ago. you pointed out in your opinion it has more to do with the drop of the price of oil rather than the coronavirus. the coronavirus will cause an economic hit worldwide. festivals canceled, and that kind of thing. isn't the oil price more about the fight between russia and the united states? vladimir putin trying to put those shale oil and fracking producers out of business by flooding the market and dropping the price? >> 100%. that's what i said earlier. remember during the financial ciels is when russia was talking to china saying now is the time to hit the united states. let's start selling securities and bonds we hold. russia is at it again. they see that we've got this crisis over coronavirus, so what do they do? decide well, no, we aren't going to cut production. we'll keep producing the way we are and saudi arabia responds by cutting prices and the oil market collapses. the oil market collapsing is very important. this is the worry about defaults and bankruptcies. you have a lot of shale players out there who have a certain number that they base their business on. they say we need crude to be $50 a barrel, $60 a barrel in order to continue putting the rings throughout and continuing operations. at this price you'll see a lot of canceled rigs and a lot of oil companies pull back on their spending and on their investments into drilling. and that on the one hand is exactly what russia wanted. russia wants to kill the industry, the shale industry and that's why it is coming back here and saying we're not going to do any production cuts. on the other side of the coin oil is seen as an indicator for an economic slowdown. the more demand for oil is indicating the economy is doing well. it means people are flying and building homes, etc. lots of economic activities. when prices go down it's the opposite. perhaps that business is drying up and we're close to a recession. >> sandra: we're expecting some movement on behalf of the president. the motorcade will be departing mar-a-lago arriving in pam beach international airport to orlando and longwood, florida. the private residence and the president will participate in a round table with supporters. we could hear from the president shortly. any white house reaction to the stock market sell-off. colin mcshane from the fox business net new -- joining us. >> i was thinking this morning about 2018. we were talking about the booming economy in that particular part of the country in texas. when you see oil prices go up and a boom in the shale industry you go down to west texas and you see traffic like you can't believe. we paid something like $400 a room for a hotel that was not a high-end hotel. these people were doing crazy amount of business where people were flying in for the week they would fly in and stay in tent cities to do their work in the oil industry and fly home to their families in other parts of the country during a boom period. here we are in 2020 and why the geo politics of all of this is so important. what is russia and saudi arabia trying to do? when i interviewed those people i'm sure you talked to them as well, maria, in the oil industry. they went back to a number of times. they get hit by environmentalists and the like saying what is fracking beneficial and all this kind of thing? one of their main answers is it makes us safer. they'll say and make the argument that the country is more energy independent with a strong shale oil industry. obviously russia knows that and saudi arabia knows that. so the opposite is also true. if our shale oil industry is not as strong then our country is less energy independent and that's a big story to watch here. >> that's what russia is doing. i want to point out for those companies that can actually survive this, that will not default and go bankrupt, on the other side of this, a huge stimulus for the economy. one analyst writes for every $1 decline in the price of oil equates to 36 billion a year in lower energy cost. so ultimately it does become a positive but we're in a moment in time now these energy companies, these shale companies that we're talking about could actually default and go bankrupt. it's exactly what russia wants to see. >> the consumer benefit is a little best prevalent right now. longer term you're right. >> this is long term. >> if we can't convince people to fly and travel and drive, then the price of whether it's oil or jet fuel or whatever the case may be is less beneficial than it will be over the longer -- >> which is why congress and the administration are talking about a fiscal response. >> sandra: jon scott noted near the top of the hour the sell-off has come off of its worst levels of the session. s&p 500, dow jones, nasdaq had sold off that 7% threshold that triggered the circuit breaker and we saw the entire u.s. stock market halted for 15 minutes. trading then resumed. i suppose you could make the case the circuit breakers are working. an efficient system. these are new circuit breakers put in place in february of 2013 after the may 2010 flash crash. the circuit breakers that were in place the selling was ex -ex as or baited. you could say it is working. >> sandra: i think it is. >> sometimes you have to stop to assess the situation to see if there are any other buyers to offset the sellers here. again, i have to keep putting out this optimistic note. it is an incredible time to find opportunities if you are in this market for the long term and incredible opportunity to take out a mortgage, to borrow at these levels is incredible. >> sandra: we have jobs numbers that were positive. >> 273,000 jobs created and wagesing up. we have a good back drop. we'll need a cushion the rest of the year. things will slow. zero earnings growth for a number of companies in 2020. >> is circuit breaker system is more important than any point in our history. we've had the 87 crash where it went down 20% in a single day. what's striking about this decline and people try to compare it to the financial crisis in 2008. so much different than that. what is striking about this, things happen so fast now that you can have a move just like this of the 7% as we saw at the open of the limit down in the stocks index futures that having a system in place that allows you to say let's take 15 minutes is help so fast. having a time-out system makes a lot of sense. >> i don't have the market expertise that all three of you do in particular but i am just curious about how much of this is caused by the fact the markets are closed on the weekends and traders go home and read the headlines and hear about coronavirus and see all these things getting canceled and they freak out? >> there is a cycle that feeds on itself. the headline of russia fighting with the saudis and russia saying it is not going to cut production was really the trigger. that would have been the trigger at any time. that was the trigger for the collapse in oil prices and the stock investors do not want to see oil collapsing 20 and 30%. it could be an indicator of recession or a sharp slowdown. it also could, as i mentioned earlier, create defaults and bankruptcies in a sector that is so important to this economy. that is the shale boom. again, exactly what russia wanted. this is as much a foreign policy story as it is a stock market story. >> 100%. when things happen quickly good news is suddenly bad news. when rates go this low so fast and get to a level that just seems ridiculous to people when they see almost 0% interest rates you start to worry. it was the debate, what can the federal reserve do about this? maria made the point and the right point. there is not as many tools left. so when you start cutting rates as they did last week and you cut them by half a percentage point how bad are things as opposed to you are here to help us out. >> sandra: the president is on air force one. he did not make any comments as he was boarding the plane. there was a phone call, a conference call just held with alexei czar who is about to join us on this program. a portion was on background and on the record. this part was on the record responding to the stock market plunge this morning. he said there is a very aggressive whole of government approach at the state, federal level. the notion we can't do our day jobs and work on this serious issue is absurd. our public health agencies are worng as we sit here trying to reform the entire healthcare system. so we also have a phone call into the white house. we're waiting on specific reaction from president trump to this sell-off and what is next with the coronavirus. but maria, it's that and there is the live picture of air force one. the president taking off. but it is also oil as well. final thoughts. >> absolutely. i want to say the corporate sector is so leveraged right now. a good reminder of the amount of debt some companies are facing. when oil prices drop 30% and earnings growth is going to be nil for 2020, that's when the debt really becomes a major problem. looking at the corporate sector and how leveraged it is now is where the weak spots will be. >> sandra: air force one took off. the latest tweet coming from the president before take-off was the president saying the best decision made was the toughest of them all would save many lives. our very early decision to stop travel to certain parts of the world. tweeted the president. he said great job being done by the v.p. and coronavirus task force, thank you. >> other tough decisions still to be made. i agree with maria the oil story made things much worse today. those tough decisions include what we'll do in major cities around this country if the virus continues to spread. decisions have already been made in other countries and people watch it and see what's happening in italy and know that dr. fauci is on the table and being thought about down the line. people are looking ahead now not at the decisions that have already been made but the decisions that are still to be made. >> sandra: thank you, really appreciate you staying with us throughout the breaking news this morning and jon, the dow off its lows of the session after that trading halt, trading resumed and now it's off 5.8%. >> jon: rebounding 400 points from its lows of the day. fox news alert. a cruise ship with 21 people on board testing positive for the coronavirus. that ship is preparing to dock today in california after several days just sitting dead in the water off san francisco. some 3500 passengers and crew will disembark in oakland from the grand princess cruise liner after waiting since thursday for a port to be cleared. all americans will be transported to military bases here in the u.s. where they will undergo a two-week quarantine. senior correspondent claudia cowan is live in oakland where fences are being installed at the site designated to receive that ship. claudia. >> that's right. good morning. after languishing off the coast of san francisco for about five days now the grand princess is expected to arrive at an unused shipping terminal at the port of oakland sometime today. we still don't know exactly when but if all goes as planned it will not be here very long. right now the ship is just off the golden gate bridge. it has been visible over the weekend. it is now waiting for the right winds and tides to come into the port. medical teams have already assessed the passengers and evacuated several over the weekend who do not have covid-19. the rest will disembark in waves. those sick taken off first and hospitalized. the 21 who tested positive for the coronavirus. the remaining passengers will be transported to several military installations for covid-19 testing and a mandatory 14-day quarantine. nearly 1,000 passengers are from california. they'll go to travis air force base and miramar naval air force station. those not from california will spend their quarantine at air bases in texas and georgia. some city leaders in oakland not happy about the ship coming here saying they were not consulted but the governor's office says this location was the easiest to seal off, securely move passengers toward isolation destinations and protect the safety of the public. >> this site is currently being secured and being fenced. and it is being secured by federal personnel. roughly 10 acres of this site. >> officials stress no one on board the grand princess will be released into the general public. as soon as the passengers have disembarked the ship will leave oakland and serve as a floating quarantine for the captain and crew members. they will stay on board the ship for at least 14 days. a massive undertaking involving a lot of moving parts as well as a dozen government agencies, cdc and military. the governor says he hopes this operation will only take about two or three days. but for those 2400 passengers on board who thought they would be home today, it is going to be another two weeks at least. jon and sandra. >> they will be able to put their feet on dry land and enjoy that at the very minimum. thanks very much. >> sandra: a quick check back at the markets this morning. we're watching the dow. at the lows of the day a few minutes ago the dow had been off more than 2,000 points or 7.91%. obviously it is down 1400 points. fears over a drop in the oil market and coronavirus fears. more market reaction coming up. >> jon: some nations around the world taking drastic measures to stop the spread of coronavirus. how drastic? a live report from italy. a quarter of the entire country's population is on lockdown. that's next. an annuity helps cover your essential monthly expenses, so you're free to live the life you want. find out how an annuity can give you lifetime income at protectedincome.org garcy young woman: yeah, thanks mom mother: of course and i love these flowers young woman whispering: hey, did you bring the... the condoms? young man whispering: what's up? young woman whispering: condoms young man whispering: what? young woman whispering: condom father: condoms charlie. she wants to know if you brought any condoms. young man: yeah i brought some. announcer: eargo, a virtually invisible hearing loss solution with high quality sound and lifetime support. lobster fan like wild caught lobster, butter poached, creamy and roasted. or try lobster sautéed with crab, shrimp and more. so hurry in and 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breaking into the pharmacy and taking drugs and overdosing. the markets in milan down 10% this morning. in large part due to the coronavirus situation. it has also something to do with the oil dispute between russia and saudi arabia. back to you, sandra and jon. >> sandra: joe biden and bernie sanders are going head tomorrow with 352 delegates up for grabs. the biggest prize is michigan, followed by washington, which has 89. >> jon: both candidates getting high-profile endorsements. jesse jackson is backing bernie sanders. kamala harris and cory booker lining up behind joe biden. let's bring in the america's newsroom a-team. david avella, mary anne marsh and tom bevan, co-founder and publisher of real clear politics. marianne, start with you. can bernie sanders win michigan again? >> michigan was the state that allowed him to continue in his fight for the nomination of hillary clinton. here is his problem. working class voters have been going with joe biden. he was the happy recipient of all the anti-clinton votes. this primary will be decided by working class voters, african-americans and women and bernie sanders hasn't been able to attract any african-american supporters of any note. >> bernie sanders hasn't been able to expand and why he lost to clinton in 16. at the same time, here is the problem for both biden and sanders. that is, if you have oil prices where they are drop gas 10 to 25 cents per gallon. mortgage rates at an all-time low. every time that happens guess what happens? consumer spending goes up. if consumers are feeling good their opinion about the economy will feel good and history tells us that in about may or june is when voters view the economy solidified going into the election. if americans are feeling good about the economy it is good for republicans. >> jon: i wanted to ask you, tom, after new hampshire and iowa, joe biden was almost a laughingstock. he was supposed to be the national frontrunner and he had zip in terms of delegates after the first few contests. south carolina comes along and joe biden is the one guy left standing in the race aside from bernie sanders. >> there is no parallel for this in american political history. the kind of comeback he had going from literally dead man walking to being the presumptive nominee or the strong frontrunner right now in the course of 72 hours basically after that win in south carolina and then springboarding to super tuesday. he has a delegate lead of 100 right now. way up in the national polls. new national poll came out this morning and up double digits there. poll in michigan has him up 21 points. hillary clinton had a 21 1/2 lead in 2016. bernie folks there is magic left for him this time around. biden is up 22 points in the polls in michigan. >> sandra: a bunch of endorsements. cory booker and kamala harris behind biden and kamala harris saying he served our country with dignity. we need him now more than ever. do everything in my power to elect him the next president of the united states. enter hillary clinton, who a brand-new interview over the weekend. decided to take a dig at bernie sanders as a candidate. watch. >> i do not think he is our strongest nominee against donald trump. >> is that an endorsement of joe biden? >> i'm not endorsing. >> there is nobody left. >> there isn't anybody left. i think what joe's victories on super tuesday showed is that he is building the kind of coalition that i had basically. it is a broad-based coalition. >> sandra: mary anne. >> hillary clinton is stating the obvious. most democrats took note of. donald trump's twitter feed. he is constantly defending bernie sanders and being wronged. none of that is true. what's more disturbing, the sanders/trump criticisms of joe biden are the same thing. two the sanders supporters what they did to hillary clinton and what bernie sanders did to hillary clinton in 2016 has not been forgotten by anybody including most of her supporters. arguably it has gotten worse four years later. they are all surprised -- if bernie is the nominee they'll line up. they don't need to line up in the primary. >> jon: hillary clinton said joe biden seems to be lining up the same kind of broad based coalition that she had. it didn't get her elected. >> exactly. it is worth noting that joe biden lost three of the four states he spent money in and campaigned in. he did really well in the states he didn't have a chance to campaign in or spend money on. it is almost as if the more you look at joe biden, the less you like him. now, to hillary clinton's point, what better way for tulsi gabbard to get back at hillary clinton than to rally up the bernie bros in a general election and say -- she ultimately ends up getting 1% or 2%. it may be that that ensures the president gets reelected. >> what should concern donald trump is the fact that increase in moderate and conservative voters in the primaries on super tuesday in virginia, massachusetts, alabama increased by double digits for joe biden. every state that happened he won. i think those are votes that were probably donald trump's last -- in 2016. now participating in a democratic primary for joe biden is something to watch. >> sandra: in michigan you look back at the 2016 results. mary anne march writes in foxnews.com. tuesday's michigan primary will answer these questions about biden/sanders match-up. mary anne, you say we may be seeing a feeling for sanders. one-on-one race sanders was the -- it's not the case in 2020. to you, tom. >> this is bernie's last stand. i think if he loses tomorrow in michigan and other states especially the nomination will be out of reach for him. the question is when does he perhaps get out and can the democratic party, can the bernie bros unify with the rest of the party or the hard feelings leftover we saw in 2016? can i add a quick thing by endorsements. harris and buttigieg and booker, they haven't had a thing about joe biden's pollz. this is a campaign for integrity, restoring dignity, all of these good feelings toward joe biden and against donald trump. >> sandra: number one common goal is to beat donald trump. >> jon: we have to say goodbye to our panel today. thank you all. >> sandra: bernie sanders taking part tonight in his second fox news democracy 2020 town hall at the university of michigan in dear born. bret baier and martha maccallum will moderate and that's tonight at 6:30 right here on the fox news channel. town hall. we'll all shall watching that and learn more about the candidate. the u.s. death toll from the coronavirus is rising again. >> jon: we await the docking of that cruise ship with 21 confirmed coronavirus patients on board. it spent days off the san francisco coast while officials scrambled to figure out where to put the thing. health and human services secretary alex azar is up next with what officials are doing to deal with the outbreak. >> right now, not wait, you should start to distance yourself from the risk. crowds, 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coronavirus outbreak claiming more lives in the u.s. as two people in washington state have died. both residents at a nursing home in the seattle suburb of kirkland. >> sandra: complete coverage now health and human services alex azar is standing by with the latest on the federal government's response. first to dan springer live in kirkland near the life care retirement center with the latest from there. >> governor jay inslee is hinting he plans on doing some things to limit big gatherings and that he has the authority to do that. there is plenty of speculation he may start this weekend with the seattle professional soccer game. the defending mls champs are very popular and draw close to 40,000 fans to their game. another major event has already been postponed. comic come was scheduled. 98,000 comic fans came to seattle for it. now it's on hold indefinitely and we're starting to see the effects of people staying at home on the economy. some restaurants are just staying closed. several major hotels say their vacancy rates are shooting up to 50% or higher. downtown seattle is practically a ghost town as amazon and most other tech companies are having employees work from home. pop star sierra has canceled a concert tour in texas, all this as the death toll hit 19 in washington state and 16 of those cases are connected to the life care center nursing home showing how deadly the virus can be when it hits an elderly and vulnerable population. the university of washington has closed its campus for -- to online learning and several other schools have followed suit. a couple of school districts have done the same thing. thank you. >> jon: dan springer, thanks. >> sandra: let's bring in the headliner health and human services secretary alex azar. good morning, and welcome. definitely a lot to get to with you here. first i know that you have a new announcement to make on the ongoing preparations being made. what exactly is that? >> well, we're bringing in the grand princess that will dock today as well as start offloading passengers from that ship. they will be offloaded to protect the community first and foremost and secondly protects those individuals. they'll be in an isolation quarantine environment and then go to facilities we've arranged around the country for their own care. they'll be tested and go into 14-day quarantine. we'll leave the crew on board the ship although we're surging medical staff. we have put people on board the ship to isolate those individuals and make sure appropriate isolation and quarantine is happening on board that ship and working closely with governor newsom and the mayor of oakland on these efforts. >> jon: there is criticism of the federal effort. i want to get from you. do you feel your department and the federal government and your department have their arms around this crisis? >> we've been on this from day one when weners to protect the american people. we have gotten a diagnostic out there. it is in the field and available for our public health labs and labs and hospitals. so over a million shipped over the weekend. we have 2.1 million available for use in the united states. so testing is fully available to our providers. we've got rapid work on a vaccine that should go to clinical trials very soon. a therapeutic already in clinical trials. border patrol measures to protect the american people and take aggressive steps to protect america. >> sandra: there is a lot to break down as far as the vaccine and the timing of it. there seems to be mixed communication on that. if i could turn everyone's attention to the dow. we have been watching the u.s. stock market since it opened for trading over an hour ago and right now there is a significant sell-off happening on wall street. more than a 5% drop on the dow. it is a 1,380 point drop. due in part to coronavirus fears. so does the administration feel like it has put out a confident message and one easily understood by the american public to limit those fears? they are significantly playing out in our stock market this morning. >> president trump has delivered a historically strong economy whether it's an unemployment numbers or on productivity. he will keep doing that. his number one concern across the whole of government along with vice president pence is leading the public health preparedness and response effort here. our economic team will work on economic aspects of this and president trump having delivered the best economy in modern history has the tools and knows the tools to keep this economy going. >> sandra: did he have anything to say about that stock market sell-off this morning? >> i haven't spoken to the president yet this morning. >> sandra: okay. >> jon: the president in the air right now as we understand it having just taken off from west palm beach a little while ago. governor andrew cuomo, democrat of new york has been critical of the federal effort. here is what he told maria bartiromo. >> testing is limited and this is, i think, maria, one of the main issues we have both in reality and in perception. when you wonder why people are so anxious and the fear, it is because the information they're getting tends to change and they are getting mixed messages. >> jon: how do you answer that last part in particular, mixed messages says the governor? >> listen, i'm disturbed by that comment. governor cuomo has been a really good partner working with us. i'm confused by what he is saying there. new york state and new york city have all the lab tests they've asked for. we've offered them more and refused further shipments of lab tests. there is no factual basis for what he is saying there. he has been a good partner and we are working closely with new york city and new york state. a week and a half ago we approved new york state lab test they developed that we actually approved. they have been up and running with capacity for any need they've had. let me be really clear about one point. there has never been a time since the cdc developed the lab test that any public health official in the united states who needed to get somebody tested for the novel coronavirus has been unable to get that person tested through the cdc's test in atlanta. we have had capacity and through-put at every moment since we developed this test. that's a fact. >> sandra: secretary azar. fox news is just now reporting that the white house has made the decision to limit certain in-person meetings because of the growing spread of the virus. according to a senior administration official, the white house and the state department are discouraging foreign officials from coming to visit. instead opting for phone calls and videoconferences when possible. can you confirm that? >> well, i don't have all the details. i'm sitting here with you as any announcement like that has been made. we'll take steps like private industry to insure protection of our people and take reasonable steps. the cdc is embedded in the state of washington and in california, we're advising them on future mitigation steps to take including social gatherings to especially protect those who are elderly and those who are medically fragile. as you talked about in the opening here there is a certain cohort of individuals that are most at-risk from severe and critical medical conditions arising out of this novel coronavirus and we need to take extra protections to insure protection control and people to stay away from settings that put them at greater risk. >> sandra: secretary azar, there is also confusion about the coronavirus. if you could we talked about this last hour and we said we would ask you. the coronavirus has been around for some time. the covid-19 strain of the coronavirus that has caused all of this -- all of these problems. what is it about that strain and what makes that so different than the coronavirus that has existed? >> there is a normal coronavirus, a couple strains of it that exist and have existed for a laong time in humanity. our bodies are used to dealing with them. they have a known profile and people are used to dealing with that. sars, mers, and now covid-19 are genetic modifications to that virus that the human body is not used to dealing with, does not have any type of response mechanism built in for it. and has a particular severity, mortality and morbidity profile different from the common cold. in particular what we're seeing is the elderly and individuals who are medically fragile are most at risk of severe and critical complications from the disease. fortunately we're seeing while children and younger individuals can get the disease, globally the data seems to be indicating they are less at risk of severe or critical complications from the virus. but we're continuing to learn every day and we're continuing -- president trump will insist we take aggressive measures in a whole of government approach to protect the public health here in the united states as our first priority. >> sandra: we hear you putting out a confident message, one where you say the messaging is coming from the white house is accurate, and all inclusive. we also hear you saying that despite what we've heard from other administration officials if you want a test from the cdc you'll get a test. no one is being denied that. what is your biggest challenge and struggle right now in all of this? >> our biggest challenge right now is to insure that we contain further spread into the united states and that we work with our state and local partners to mitigate spread in areas where we have had community spreading. that is working with governor inslee and santa clara county and working with new york state and city and florida. to take the aggressive measures needed to slow down the spread of this disease so we can always continue to buy time and mitigate the impact in the united states. make no mistake, this is a serious health problem. nobody is trying to minimize that. it is a very serious public health threat to the people of the united states and that's why president trump from day one has been aggressive with a whole of government approach and will continue to do so. >> sandra: i said last question. one more. there are schools open all over the country. some decided to shut down as a precaution. do you recommend any further school closings at the federal level, secretary azar, based on what you're seeing and hearing especially considering the white house is limiting in-person meetings? >> we haven't recommended that every community in america close schools. we're working with individual communities based on the data in their community and what cases they have seen. some communities closing schools is a very appropriate measure. in others it might be having school but limiting assembles and larger gatherings within the school. it is very much a local and state decision about the approach to take based on data, we're there to help and advise them. >> jon: alex azar, you with a busy man. thank you for spending time with us. the market down 1400 points right now. but that's not as bad as it was. you saw it when it was down 2,000. i missed that moment. it has been changing rapidly. money man charles payne joins us next. these people didn't sleep well last night. these people did, thanks to somnapure. somnapure from force factor helps you fall asleep faster, stay asleep longer, and wake up feeling refreshed. don't be a zombie - get somnapure. available at retailers nationwide. >> jon: fox news alert. a live look at orlando air force one just touched down there after taking off from west palm beach a very short time ago. the president will be deplaning shortly on his way to a round table and fundraiser in orlando. it all comes amid another big sell-off on wall street. the dow down about 1300 points right now. charles payne the host of making money on fox business is with us. >> good morning. >> sandra: what do you think? just to bring everybody maybe some of you tuning in now, the markets opened over an hour ago. overnight a quadruple point sell-off. investors were spooked by coronavirus and oil markets. oil selling off more than 30% because of production woes and a trading halt. meaning the s&p 500 sold off more than 7%. circuit breaker was triggered. everybody took the deep breath for 15 minutes. traders came back and we came off the lows of the session. >> it is a wait and see game. to your point also the market was halted even before the trading in that pre-trading of 5% limit down. it all came really a confluence of things. the spread here, more states of emergencies. the anxiety that has gone along with that. the unknowns of the social distancing. what the impact will be. and in addition to that you mention the oil war, which is kind of nuts with saudi arabia and russia. they were trying to get russia to cut production. russia was iffy. saudi arabia hiked their production. remember oil is a commodity you know better than anyone else about supply and demand. there is so much supply out there and it is going to be more supply out there. we're awash in crude oil. the irony does that mean gas prices go down? the answer is yes. the bigger question for the stock market will you take advantage and go somewhere? >> sandra: they are below $2 a gallon. >> i think the market is oversold but it is in a dark period. it doesn't know how to adjust. in a period like that selling begets selling and that's where we are. >> jon: the market doesn't like uncertainty. >> it hates it. in this case the -- the more people that see other people wearing masks may wear masks. it is reverberating in a way that is so amazing. we were just -- the economy, we saw the juggernaut of the economy friday. i don't think we have to go like some people saying you look at bond yields and oil. i don't think that necessarily means we have to go into recession. there is a reason -- >> sandra: the president walking off air force one landing in orlando. >> jon: we were wondering if the president might say a few words to sort of calm these markets. doesn't appear that he is going to do that today. well, no, he is not getting into the presidential limousine right away. he is walking past it. perhaps there will be remarks from president trump. you can hear the crowd that has been invited there to assembly on the tarmac at orlando airport screaming for the president. >> the market wants to hear from president trump. the sooner the better. >> he is walking with the florida governor ron desantis there. he will participate in a round table with some sporters there in orlando. see if we can hear the president. >> jon: in an era when shaking hands is a no no for many people, the president is not showing any concerns about that at all. he is glad handing this entire rope line. you can see the woman in the denim jacket is overwhelmed. >> sandra: gave the elbow. what's the elbow move called, jon. >> jon: elbow bump. >> sandra: the president just touched down and the dow selling off 1,600 points. we were interested to see if perhaps he would comment on that market sell-off and the coordination over the coronavirus, charles. >> the markets right now and for even last week there has been this anticipation of intervention both by central banks and by, of course, the federal governments including ours. ideas that have been tossed out there. i think this week you'll have to see some sort of concrete action. there will be economic purists out there who think we should ride it out. again there is intangible. psychological aspect of this that the white house is going to have to consider. also in election year do you want people who don't have certain insurances not to be able to take time off from work? there is a lot of considerations here for president trump without a doubt. we are going to get something from the white house. it is unclear how -- what it will be but there will be initial steps for them to help -- particularly in the hard-hit areas small businesses and things like that. >> jon: there won't be comments from the president right now. he just climbed into the presidential limousine. >> sandra: you talk about the economic impact and the ripple effect, though, that those fears have in the market, charles. over the weekend we all probably know somebody at some point who didn't go to a birthday party, they didn't go to the movies or shopping or -- you know, or maybe they did go to the store but stocking up on supplies. talk about the impact that we're seeing on the u.s. economy. >> we don't know yet. i went to a supermarket yesterday, to a really big one yesterday. there was no panic. it was orderly. they had everything that i was looking for, probably didn't have hand sanitizer. i wasn't looking for that. there wasn't a sense of panic. there were a lot of people out. it was beautiful weather yesterday in the region. anyone has their own view of this and checking, i guess, region by region. there are two things. things that we can postpone, that we can pick up later in the economy. the second quarter will be a wild card. it will get hit. but again if you don't do something like buy something, whether it's an iphone or something like that you might do it a couple weeks later or couple months later. then there are things that are canceled, right, that can't be made up. a trip on a plane, a trip on a cruise line. those kind of things. there will be some economic impact. some of the economic impact will be picked up later in the year third and fourth quarter. >> jon: maria bartiromo was in her excellent way explaining how the lower price of oil is telling a lot of people that, you know, we've got a slowdown coming but isn't that drop in the price of oil more about the argument between saudi arabia, the sort of love lost between saudi arabia and russia. >> it began before this weekend. when we had our oil boom a few years ago we spent $200 billion on building out capacity. a lot of that money was borrowed. a lot borrowed by high bond yields, junk bonds and things like that. some of the smaller companies. last week we got our rig count it was down 240 rigs down from 900, almost 1,000 rigs to 700. we had an issue in this company with smaller oil companies to begin with. >> jon: slowing production in this country. >> in part we need oil to be a certain level. a lot higher than saudi arabia needs. it is the supply and demand argument. now, if oil was crumbling because there was no demand for it, that would be a greater sign of recession. if it's crumbling because saudi arabia says we'll go from 9 million barrels a day to 12 million barrels a day to crush the market and teach russia a lesson and to derail the americans, which they did a couple of years ago, then that's a different way of reading it. i'm sure most people watching the show if they put off a trip to italy maybe they'll get in a car and go somewhere else in this country by car. >> sandra: $30 a barrel from the price of crude oil and we used to look at topping $100 a barrel. both u.s., west texas, benchmark and others on pace for their worst day since 1991. >> that was the gulf war. it really is a massive shock. i think just to sandra's point to the degree that it declined is a massive shock. there are countries where it's hurting a lot more. australia, anywhere we have commodity-based economies, canada, australia, middle east and political ramifications as well. >> jon: interesting to see what happens in venezuela. >> very interesting. that's already a broken country when oil was gushing. >> sandra: we can follow up with you at 2:00. >> jon: the spread of coronavirus raising new legal questions about quarantine orders, what happens when a quarantine is mandatory? could the government shut down entire sections of the country like italy has done? e our sales. by product, by region. you can actually see taste- trends. since when can we do that? since we started 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(announcer) people who know, know bdo. you can't always stop for a fingerstick.betes with the freestyle libre 14 day system, a continuous glucose monitor, you don't have to. with a painless, one-second scan you can check your glucose with a smart phone or reader so you can stay in the moment. no matter where you are or what you're doing. ask your doctor for a prescription for the freestyle libre 14 day system. you can do it without fingersticks. learn more at freestylelibre.us. >> sandra: fox news alert on the dramatic day on wall street. trading was briefly halted after the markets opened and plunged more than 2,000 points in the case of the dow on coronavirus virus fears and on the heels of a sharp drop in oil prices. welcome back to "america's newsroom." we're falling it all for you. i'm sandra smith. good morning. >> jon: i'm jon scott in for ed henry. oil prices are falling but the sky is not. the dow down 1,680 points now. it comes from dipping into bear market territory as the coronavirus outbreak grows here at home and around the world. here is alex azar the health and human services secretary a few moments ago. >> we've been on it from day one when we got word from the china cdc about it and working to prepare this country for what we see as a very serious public health threat. we'll take all actions necessary to protect the american people working with state and local partners. a diagnostic out there in the field, available for our public health labs, labs, hospitals. we'll keep taking very aggressive steps to protect america. >> jon: deidre bolton joins us live with a wild day on the markets. >> it is. you mentioned at its worst point the dow was down more than 2,000 points. it is extraordinary. you can see if you look at the s&p 500 all 11 sectors are lower. there is fear in this market, no at way to say it. you see that showing up in other places as well. treasury bonds. you have investors saying i don't know what else to do with my money. i am so scared. the only place that i'm willing to put money right now is on the safety and sanctity of the u.s. government. so just psychologically it tells you something. if people are saying that's where my money is safe because if the u.s. government collapses we all have bigger problems. that's where investors putting money and gold as well. 1700 an ounce, higher than that. those two places really show you the investor psychology right now. there is word i'm getting from traders, this is not confirmed. there are a lot of traders saying they expect some industry groups to be headed to the white house today to ask for additional support. we do not have that confirmed. i personally do not. i have spoken with more than a few traders this morning who say that could put in a little bit of a stopgap into some of this selling. so some of the industries that may be asking for help, airlines industries that would make all the sense in the world. we have seen the hotel leisure industry hit very hard on the coronavirus fears. and i would remiss if i didn't talk about oil. but we have not seen levels of oil as we're seeing now since 1991, since the gulf war, there are certain considerations obviously that may be put into place for them. unconfirmed at least for me personally. the idea is more than a few sector leaders will be going to the white house to ask for some help later today. in the meantime we're continuing to follow these markets. incredible volatility. last week every single day had either an upswing or down swing by more than 2 1/2 percent. this hasn't happened in quite some time. >> jon: it is a wild ride for sure. thank you. >> sandra: let's bring in david asman, anchor of bulls and bears on the fox business network. what will you tell us? >> wha in 2008 and 2009 when there was a lot of overreaction to what what's happening. as bad as that situation was, sometimes politicians can go overboard in trying to make things better. and sometimes the best thing to do is just to wait for markets to calm down and see what will happen. there are some serious concerns. europe is a huge concern. they were already having economic difficulties. i think it will be very difficult for europe to avoid recession. of course, japan you include in that as with well. now, as we were talking about overreacting politicians, central banks around the world might be overreacting if they go into negative interest rates. a lot of politicians have been saying good thing, both republicans and democrats. you look at japan. they have had negative interest rates for 30 or 40 years and basically no growth in all that time. so overreaction is what bothers me. the demand from europe that will be slowing down possibly to recession, will slow down dramatically. it means we won't be able to sell as many of the goods as we manufacture. we also have a problem at home. corporations particularly those that were looking to get more investment, are issuing these high-interest corporate bonds. you know what that's about. if you want some kind of return on investment in bonds and you aren't getting it from treasury you buy the high-interest corporate bonds. they may have trouble paying off the high interests. when interest rates have gone down to practically zero, it changes a lot. they may not be able to fulfill their promise to give back to the people who bought the bonds. that could be a severe problem. >> sandra: one thing asking health officials this morning as well as alex azar, the difference between the coronavirus that existed for some time and this strain of the virus the covid-19. we asked for data points on this. what makes this new strain more of a concern is that it -- we still don't know exactly how it spreads, how severe the illness causes could be and what extent it could spread in the u.s. that's the cdc. so that's the point when you look at the markets. that level of uncertainty over how bad this could get or not. >> remember, we have with virus worldwide viruses before. i think back to sars which was far more deadly. it had a -- you may want to double-check it. it was far more deadly. it was very high, sars. this is much lower than that. 1% mortality rate. it is very contagious. the traders getting their information from the medical experts what scares them most the contagion element of this particular virus is much greater than we've seen before. the amount that -- the quickness with which it spreads does scare traders. because what that means is it would put a lot of people out of work, very small mortality rate when you look at the overall, but still people would have to stay home. you already see congressmen and senators self-quarantining themselves as a result of that. what will happen if more of that goes on in the capitol? a lot of traders say maybe it's better if the capitol doesn't do any work. the point is the people who are at work as this thing begins to spread among factories and so forth, what does it mean about the industrial output of america? it will slow down. does it slow down to the point of recession? i think probably not that much but when you look at what is happening in the world there may be pressures from the outside forcing our economy to go down even more. >> sandra: with today's sell-off the u.s. stock market is bordering on bear market territory. sold off nearly 20% from its highs. i want to read you a brand-new tweet from the president after he touched down in florida saying this. last year 37,000 americans died from the common flu. it averages between 27,000 and 70,000 per year. nothing is shut down. life and the economy go on. at this moment there are 546 confirmed cases of coronavirus with 22 deaths. think about that. >> absolutely. there is nothing you can argue with what the president said there. the problem is if it does begin to spread, if it does because it is such a contagious virus, if it does begin the spread and people don't self-quarantine the way personalities like senator cruz have, you could have factories closing down, you could have offices closing down. the great thing is first of all we have a very strong economy. we saw that with the jobs figures last week. tremendous beat on what we were expecting in the number of jobs created. we have a strong foundation to weather a storm. you talk about a rainy day fund. our rainy day fund is the economy itself. it is a very strong economy thanks to the efforts i believe that this president has made to make it a strong economy, lowering tax rates, lowering regulations, strengthening the energy sector. imagine how completely devastated the energy sector would be now had it not been strengthed over the past three years with what's happening with the price of oil. we have a very strong foundation on which to weather a storm like this. it is a storm and it could be a bad storm. it could get worse from where it is now. hopefully the efforts and springtime, the efforts being done by the cdc and people like dr. fauci and everything will pay off. even if it does get a lot worse we're in a good position to weather the storm and come out of it in relatively good shape. i say relative to what's happening in the rest of the world. >> sandra: professionals continue the precautionary measures. to prevent the flu and coronavirus. wash your hands, limit your contact. >> we haven't shaken hands. >> sandra: we're doing the elbow bump. the white house according to fox news, that administration officials are now limiting in-person meetings because of the virus especially with foreign officials and others. they'll go to phone calls rather than in person. >> the one final word of caution. it is an election year and we have politicians following the moon. imagine how much more they'll promise and that scares me a little bit because we may go too far in our promises and that could cause us to -- >> sandra: the president shook hands with supporters that came out to see him. >> i hope he washed his hands after. i'm sure he did. >> sandra: thank you very much, david. >> jon: the new numbers in the coronavirus outbreak. there are nearly 500 people known to be infected across the u.s. across more than two dozen states and the district of columbia with at least 19 deaths and the state department warning americans not to travel on cruise ships especially if they are passengers with underlying health conditions. jonathan serrie live in atlanta with more. >> senator ted cruz has voluntarily isolated himself at his home after learning he shook hands with someone infected with covid-19. the interaction took place more than a week ago at the conservative political action conference cpac. the white house does not believe either president or vice president was near the person. doctors said cruz's risk of infection is very low but wanted to take an abundance of caution. a u.s. marine has presented positive after coming back from overseas. earlier infections were reported in two other u.s. service members, one in south korea, the other in italy. the u.s. army is restricting soldiers traveling to or from both countries to protect american forces from the coronavirus. italy now has the largest number of coronavirus cases outside of china and following china's playbook italy has imposed quar an teens on the northern part of the country restricting the movement of 16 million people. a quarter of that country's population until april 3. here in the u.s. public health officials are planning additional measures if the outbreak continues to spread at home. >> i don't think it would be as draconian as nobody in or out. if we continue to get cases at the community level there will be mitigation. you have to do essentially social distancing. keep people out of crowded places. >> dr. fauci says now is the time for people with underlying health conditions to take precautions to protect themselves. jon. >> jon: jonathan serrie from atlanta. thank you. you've probably heard people and medical experts referring to the coronavirus by its type covid-19. the 19 coming from 2019, the year it was discovered. well, it is all because there are many types of coronavirus, ones deadly like sars or some as mild as the common cold. covid-19 is the name that scientists gave to this coronavirus currently spreading around the world. whether you call it a coronavirus or covid-19 you are correct either way. >> sandra: good information there. tairking a look at the dow it is off its lows of the session as we mentioned, jon. it had been down more than 2,000 points at the lows of the day. it has come back 400 points from them but it is a significant and historic more than 6% sell-off on the dow. not just over coronavirus fears but also due to a sell-off in oil prices nearly 30% down. >> jon: we're keeping a close eye on that. plus the cdc is asking people who have been in contact with coronavirus patients to self-quarantine. but what happens if they don't? judge napolitano up next. it all 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underlying health concerns. the regal princess behind me with the capacity of 3500 passengers was supposed to be out of here in port everglades later this afternoon on a new cruise. that cruise has been canceled. all day sunday the ship sailed back and forth up and down the coast 5 to 10 miles offshore while two coronavirus test kits were taken by the coast guard from the ship to a lab to be analyzed. they were from two crew members who transferred to the ship there the grand princess out west. that ship is supposed to dock today in oakland after 21 passengers tested positive for coronavirus. out of caution that led to the regal princess tests which late yesterday came up negative. late last night the ship was allowed to dock and disembark. a second cruise ship received a no-sail order, the caribbean princess is on a 10-day cruise in the caribbean near the cayman islands and has two crew members that had been on the grand princess. carnival crew lines says the crew members aren't showing any signs of covid-19. how impacted passengers are being compensated. princess cruises will reimburse our guests $300 per booking for one night's hotel cost in ft. lauderdale and receive full refunds and other pre-paid items purchased through princess cruises. the vice president was here on saturday with the governor of florida and florida's two u.s. senators meeting with executives from the cruise line industry reassuring them that cruising would continue. meanwhile over the weekend florida saw its first coronavirus deaths, the only ones not on the west coast. >> sandra: a lot of this changing this morning. thank you. >> jon: growing concerns about the possibility of a widespread quarantine because of coronavirus. here is dr. anthony fauci the head of infections diseases and allergies. >> you don't want to alarm people. given the spread we see, anything is possible. that's the reason why we have to be prepared to take whatever action is appropriate to contain and mitigate the outbreak. >> jon: what about the legal aspects of something like that? joining us now judge andrew napolitano, fox news senior judicial analyst, host of liberty file on fox nation. you've seen what happened in the country of your ancestors italy. 16 million people under quarantine. >> and within hours of the announcement of the quarantine probably a million people attempted -- i don't know if they all did successfully to get out of that part of italy which imposed the quarantine. we could see that here. i'm sorry to say. i hope it doesn't come to that. dr. fauci would advise the president before such an order is given. that decision would have to be made on the fact that the pandemic is widespread and not controllable. can't be made on the basis of politics or geography. let's take a zip code in new york city where the cases are exploding. the government has the ability to quar an teens. three types. don't go into a public place, stay in your house. or we'll put you in a federal hospital like a v.a. or put you at a federal military base. draconian and haven't been done in the modern era but the statutes exist that would authorize the government to do that. that's just the federal government. add to that what the states can do. if there is a typhoid mary out there, a person who has this disease and refuses to restrain his or her movement, the governor of new york, the governor of new jersey wherever the person might be could sign an arrest warrant for that person who would be quarantined against his or her will. >> jon: the name of your program is called liberty file. this is a nation of liberties. people won't react well if people are told they have to stay home. >> if they're not ill and happen to live in a neighborhood where it is popping up all over the place. can you challenge a quarantine? answer yes but if you are quarantined, you can't leave your house or go into a courtroom to challenge it. you would have to send your lawyers and people who got affidavits from you to say i am well. the doctor is saying i'm well. no reason to confine me. >> jon: who would enforce >> jon: let's say they pick a zip code and nobody is allowed out of it. who enforces it. >> the department of homeland security has a 55,000 armed police officer to give you a picture how big it is. the largest police department non-federal in the country is new york city with 36,000. so the federal force has another 19,000. that's who would enforce it. after that are you ready for this? the coast guard would come on land because the coast guard works for the department of homeland security and they would help enforce it. this has never happened in our history, the massive blockage of civil liberties. the right of you, me or anybody watching us to go about our daily business. the government has the authority to restrict that. >> jon: so we hope it doesn't come to that. >> of course. >> jon: you're saying it could come to that. >> it could. that decision again would be made by somebody like dr. fauci because it has to be a medical decision as one of last resort. because the cost to the taxpayer and the cost to the economy is catastrophic if people can't go to work and if they are confined at a facility where the federal government has to provide food and shelter. >> jon: judge andrew napolitano. thank you, judge. >> sandra: another wild ride on wall street to start a new week as coronavirus fierce and plunging oil prices trigger another sell-off. we'll sell our friend stuart varney what it all means. >> jon: some schools in the country canceling classes as administrators are trying to decide. what happens when kids have to stay home? >> at the advice, we'll be canceling klaes at occupational. we want to take all possible measures to insure the health and well-being of these students is the first priority. d adds to the legendary capability of the strongest, most advanced silverados ever. with best in class camera technology and larger, more 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of the lack of confidence and so we would hope that what is coming out of the white house will be more consistent. >> sandra: that was nancy pelosi just a short time ago at a women's summit at northeastern university responding to the stock market sell-off today and growing concerns over the coronavirus. stocks rebounding slightly off their lows of the session. another steep drop for markets as we begin a brand-new week. we called our friend stuart varney hosting his show on fbn and he will join us in a simulcast. will appear on each other's networks and shows. hello, stuart. >> good morning let me report to you. we have a significant sell-off on wall street. stock prices way down. the dow industrials down 5.8% as we speak. the price of oil has tumbled all the way down to $34 per barrel and has been what we call the flight to safety, a mad rush into the treasuries. united states treasuries because they're dead safe. the money goes in, the price goes up, and the yield comes down. in a nutshell, sandra, that's what we have on the financial markets this morning. >> sandra: i know, stuart, from watching you and your show, because i dvr it and watch it after mine, of course, that you are very optimistic on the u.s. economy and very positive on the economic numbers that you continue to see. so bring it all together as we see this more than 1500-point sell-off on the dow and what happens next. >> in december, january and february, this economy was very strong, as you can see from the jobs report which we received at 8:30 eastern friday morning. 273,000 new jobs created the previous month. a significant expansion. it means that we have a strong economy. we know we are going into a slowdown situation here, we know that. but we have a strong economy. in fact, we're probably best positioned to deal with this virus economically that is, compared to our rivals and not necessarily opponents but other people. for example italy has just clamped down on and put in quarantine a quarter of the population. that will almost certainly mean a recession, and a bad one in italy. that will spread to the rest of europe, which is already close to recession. in other words, europe is heading south. japan already in a deep recession. their economy, sandra, amazingly enough, is contracting 7% per year as we speak and might get worse because they have closed all the schools there. as for china, that economy is still on its back. supposed to be recovering gradually but still very much on its back. so we still have growth, strong economy, best positioned to weather the coming storm. >> sandra: let me give you some news that's coming into us right now. and have you react to it. as far as the growing fears and cases of the coronavirus. we are getting word now that the port authority director has tested positive making now new york state the top state with the most cases, 142 cases now, stuart. >> what this will do is encourage this movement towards what we call social distancing. that's the words used by dr. fauci at cdc. he says look, social distancing -- i'll spell this out. social distancing, like in seattle, is the way to go. i'm not less mall traffic, less plane traffic, less economic activity. this means the economy will slow down. we don't know by how much it will slow down and we don't know for how long it will slow down. but slow down here it comes. you can see it. >> sandra: there is a production war over oil. you and i have covered oil and the oil markets for years. what do you think about seeing oil nearly $30 a barrel? a few seconds left. >> i'm astonished by it. it is very bad news for american drillers and fracers and the oil companies. you can't make a profit drilling in america for $30 a barrel. you can't make a profit. long run, however, the price of gas that you and i pay, sandra, will come way, way, way, way down. that's one possible bright spot in this mess. >> sandra: we'll let you get back to your show on the fox business network. appreciate your time this morning. thank you. >> jon: so the coronavirus outbreak continues to spread triggering school closures in at least 18 states. as officials scramble to try to keep students and faculty safe. grady trimble reporting for fox business live from chicago. grady. >> as of friday, more than 120,000 k-12 students across the country have been affected by the closures. it includes multiple schools public and private here in the chicago area. in washington state the entire north shore school district near seattle has closed all schools for its more than 20,000 students shifting to online classes starting today and for at least the next 14 days. in a letter to parents, the superintendent says multiple individuals from across our district are in self-quarantine because they may have been exposed to the covid-19 coronavirus as a result of the issues at the senior home in kirkland. in california several individual schools have closed. the elk grove unified school district has shut down all schools after a relative living with several students tested positive for the coronavirus. the largest district in northern california. now shifting its spring break to avoid missing school days and parents are scrambling to figure out childcare for these cloche us. >> jon: no easy answers. >> sandra: we're hours away from the next big contest in the 2020 race. six states set to vote tomorrow in what is being billed as mini super tuesday. >> jon: how this might impact the voting after the endorsements both candidates have picked up. automatic savings that we've ever offered. at newday, veterans can refinance their mortgage with no income verification, no appraisal and no out of pocket expenses. and we've extended our call center hours so that every veteran can take advantage of these near record low rates. >> sandra: another big week. joe biden and bernie sanders landing high-profile endorsements ahead of the primaries tomorrow. voters in six states will head to the polls with 352 delegates up for grabs. mark meredith is live in washington with more. >> they're both on the campaign trail today. the campaigns appear to be laser focused and its delegates up for grab tomorrow. sanders is canceling visits to some states to shift to michigan. he got an endorsement from the reverend jesse jackson. he campaigned for sanders on sunday in grand rapids. >> back in 1988, jesse jackson won the state. 2016, i won the state. [cheering and applause] and on tuesday, if we stick together, if we bring our friends out to vote, we are going to win it again: >> the biden campaign is celebrating two high profile endorsements of its own. senators cory booker and kamala harris are backing biden. both criticized biden early in the process. booker released a statement this morning. writing i'm no longer writing for president. i know to win democrats need a nominee who understands the way to beat donald trump is bring people together. >> i believe in joe, i really believe in him and have known him for a long time. one of the things we need right now is a leader who really does care about the people. >> both senator harris and booker will campaign alongside biden at a get out the vote event in detroit later on tonight. >> jon: let's bring in our panel. cap re cafaro and fox nation host lawrence jones also with us. thank you for being here. let's look at the real clear politics average. there are three still in the race. joe biden, bernie sanders and tulsi gabbard. biden 52.3% in the average of all the big polls. bernie sanders only 35.3 and gabbard at 1.5. does that mean, capri, it's over for bernie? >> it doesn't mean it's yet over for bernie simply because this isn't a national race, it is a state by state delegate contest. that being said, i do think it is a much harder road for bernie sanders and we're seeing the momentum fall to joe biden from fundraising, from endorsements, and obviously looking ahead to tomorrow where all eyes will be on michigan and where i do think joe biden is going to win and perform better than hillary clinton because of the role that vice president biden played in the auto bail-out a decade ago. >> jon: does that mean by the standpoint of president trump joe biden is the more formidable opponent? >> it means he will be the guy running against president trump. i think that bernie sanders would have been the best person from the democratic side to give the president a run for his money because he has this progressive base that are fired up and they want generational change. much like during the trump era they felt like that he was the best candidate to shake up washington but it will come down to black voters in michigan. i'm sorry that jesse jackson endorsement. the party elders especially in the black community have decided that joe biden was going to be their guy. only the young people and young black voters that would go out and support bernie sanders. what we've seen by the data is they aren't showing up to vote. >> jon: chris wallace asked bernie sanders point blank will you think about dropping out? here is what bernie had to say on "fox news sunday". >> i certainly would not consider dropping out. chris, media ask you is this state or that state life or defmgt i was asked that in iowa and new hampshire. we won california, the largest state in this country. we're winning among latino voters and young people. >> jon: he may be winning those groups, capri but almost 100 behind in the delegate count. >> no way he will drop out. this isn't about winning or losing. it is fulfilling a moment in time for a revolution he started 30-some years ago. he is not a democrat even though he is identifying as one right now. he is an independent. >> jon: people are shunning him? >> no, doesn't mean the party is shutting him or dnc plan. there are real human beings making real decisions at the ballot box that are voting for joe biden, other candidates over bernie sanders. this isn't a party abandonment issue. i think a calculus among voters and some folks that have endorsed the joe biden is a better person to unify the party and frankly while there is some enthusiasm on this progressive side, that does not overshadow the fact that bernie sanders is going to lose and has lost suburban women, african-americans, rural voters and the like. you need that coalition in order to win in november and i think real democratic human beings are recognizing that. >> those young progressives are upset. i talk with a lot of them across the country. it may not be the case capri. they feel like the party elders haven't been as welcoming. you have the bernie sanders. >> they need to show up and vote. they are obviously no. >> i'm just saying what the people are saying. the more progressive media they don't think have been fair to bernie and why you see he will come on fox news. it's a place although we may criticize him many of the pundits of our network about the socialism angle, they feel like they've been fair. this is coming from the sanders camp. than some other places like the "washington post". the problem that democrats will run into is during this general election will those progressive voters, the young voters show up? if they don't show up for joe biden you can call the election quits. >> jon: joe biden warns there will be a bloodbath if they don't get it sorted out quickly. thank you both. bernie sanders will take the stage tonight for his second fox news town hall. bret baier and martha maccallum with moderate the event tonight at 6:30 eastern time. >> sandra: we look forward to that. meanwhile north korea firing three short range missiles today. the second launch by kim jong-un's regime in the last two weeks. how it will affect stalled u.s./north korea negotiations. we'll have that for you next. 5g ultra wideband is so much faster than even my home internet. with ultra-fast speeds. in the gaming world, if you lag you're done. with verizon 5g ultra wideband, i don't worry about lag. now, buy one of our newest samsung galaxy 5g phones, and get an s20+ on us. you can download a movie that normally takes 20 minutes in, like, 20 seconds. i need all the breaks as athat i can get.or, at liberty butchemel... cut. liberty mu... line? 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>> north korea's economy is in freefall now. had to have been made worse first by china's own economic challenges first because of the trade war with the united states but secondly the impact of the coronavirus. we know that south korea has reported 7,000 cases of coronavirus and over 50 deaths. we would probably have to postulate that north korea like which is is suffering considerably. aware of that kim jong-un would like to get sanctions relief. i think that's at the heart of what he is doing here by messaging us with these tests that were fairly low scale but designed to get our attention. >> sandra: you brought up the coronavirus. north korea has sent home tourists and business people and foreign diplomats. the first secretary of the german embassy in north korea on what is happening. >> most of the schools are closed. the international school is closed as well and they are supposed to open at the end of this month, end of march. everybody is hoping for flights to resume, for the borders to reopen. you don't see any -- the people aren't wearing masks but that's about all. >> sandra: most of the schools closed. the international school closed and open at the end of the month. what do you make of what is happening there and what they've decided to do, dan? >> we know from the case of otto warmbier the kim jong-un has a complete lack of regard for human rights. i think in this case he is not concerned about anyone's health especially foreign dignitaries and diplomats. what he doesn't want is foreign diplomats to be on the ground in pyongyang accurately reporting to the extent the north korea economy is in freefall and people suffering from the coronavirus. they would be in a position to potentially to know those things. kim jong-un doesn't want to take the chance. i think that's what's behind that decision. >> sandra: dan hoffman, we appreciate your time this morning. thank you. >> jon: meantime we're continuing to watch a big sell-off on wall street. the dow down nearly 1300 points at the moment. it was far worse before as oil prices and growing coronavirus fears send shock waves through global markets. we are keeping a close eye on that. plus how the coronavirus outbreak is impacting major events across the country. nly dropping to near record lows, my team at newday usa is helping more veterans refinance than ever. the newday va streamline refi is the reason why. it lets you shortcut the loan process and refinance with no income verification, no appraisal, and no out of pocket costs. one call can save you $2000 every year. call my team at newday usa right now. dhit's not getting in my way.? 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