Relative sense yes yes. Yes, and they are. Theyre at home as they have been all week and focusing on on frankly theyre not symptomatic and there was the need for testing. Bill ackman on our air earlier today suggested the nation should shut down for a month or so, an extended spring break. If that were to happen, and i know you dont think someones voice is coming through to us, and i know you dont think that is the right course of action, if that were to happen, do you think that would be supportive of market levels or not . I dont think so. I think we need to make sure people need to have access to the markets and i dont think we would reduce concern about how events are unfolding in the coming weeks we have a few weeks of uncertainty and we will get through this and well see how quickly it evolves, but every single day we learn more every single day we put in new protections and new measures and people are taking this very seriously and thats an important thing to highlight well get
Down a leavened point 9 percent the worst percentage drop by both sides 1987 the worst dow point loss ever the previous 2 record set just last week as the markets were closing in new york and washington President Donald Trump was asked if the country was in a recession well it maybe it would not think in terms of a recession with a good in terms of the virus once we stop i think theres a tremendous pent up demand both in terms of the stock market and in terms of the economy and once this goes away once it goes through and were done with it i think youre going to see a tremendous a tremendous surge. The trading day was so bad the president of the New York Stock Exchange had to shoot down rumors that the Trading Floor might close down tweeting closing the markets would not change the underlying causes of the market decline this would only further compound the current market anxiety. Over the weekend the Federal Reserve lowered Interest Rates to nearly 0 hoping it would call in the market
Scrambles to absorb the rate shock. Opec has failed, failed to reach a deal to cut production all of this as the coronavirus spreads globally we are now more than 100,000 confirmed cases worldwide with more than 200 cases right here, kelly, in the u. S. Thank you we have all angles of todays sell off covered bob pisani is watching squatock. Rick santelli is in chicago where yields continue to plunge. Steve liesman is monitoring the fed and economy and diana oleic is telling us what it means for the economy and eamon javers at the white house looking at possible government response, but lets begin with bob just barely negative for the week i know that sounds startling barely negative for the week overall. Important thing here the bottom was 2954 and we are below that bottom right now for the s p 500. Take a look at some of the laggards now microsoft down very weak today jpmorgan, the worst performer, down 7 overall. Nike also weak dow inc also down. Home depot is down for the day, but u
The bank or to care for the young and the elderly. In the capital madrid people are still venturing out but with many businesses already shut the citys unusually quiet even sentimental stuff can grow i live in the city center and i like to see it empty i like to say that i think people are being responsible and the people who have to stay at home are doing it. Because the owner of this hotel is offering hundreds of rooms to madrids Regional Government so it can treat coronavirus patients while in seville the man has canceled all easter week for sessions just the latest setback to its tourist industry. In the italian capital rome people stuck indoors have been showing their appreciation of doctors and nurses fighting against coronavirus theirs is the worst hit country off to china and the death toll is well over a 1000 already. With the entire country in lockdown normal life has come to a halt. And france is now closing all bars restaurants and cinemas and asking people to work from hom
Forced to wait hours for medical screening an official has more now from washington. From the president of the United States was aimed at comforting americans relax but doing great it all will pass moments later from the man heading the dr against the virus a starkly different message the worst is yet to head for us it is how we respond to that challenge the number of confirmed cases in the u. S. Is no more than 3000 states are shutting down bars and restaurants curfews are starting to be introduced the face of america is changing at airports as the extended european travel ban kicks in here the. Staff carrying out Health Screenings have been overwhelmed the governor of illinois blamed the Trump Administration for a lack of planning and poor sight he didnt get the response he wanted well heres what i got i got a call at about 11 oclock last night after that tweet from a white house staffer who yelled at me about the tweet the administration at its no dealy briefing admitted mistakes wh