Joining us momentarily and to open the show we have to get news that developed moments ago and that is the president invoking the defense production act to encourage or force some American Companies to make ventilators. Lets get more on that breaking news right now with Kayla Tausche in washington, d. C kayla . Brian, President Trump has done this just a handful of times during the coronavirus crisis, but this afternoon he issued an order that targets six medical Device Companies to procure the elements and materials they need to expedite the production of ventilators and personal protective equipment. The companies include general electric, hillrom, medtronic, resmed, philips and vy aire so they can make things like ventilators and the personal propektipr protective equipment for medical providers more quickly we know it is in short suspect blew in hardhit states as they grapple with growing numbers of sick patients. The white house so far has refrained from using the dpa as a blunt i
Washington cut the number of visas for Chinese State media in the us. And with the sports the olympic flame head to tokyo but this is the same to see officials one of whom says its insensitive and irresponsible to hold the games. Welcome to the news hour restrictions are becoming more severe across the globe as more and more countries ramp up efforts to contain the corona virus pandemic now the number of confirmed cases now exceeds 200000 worldwide and thats according to a tally by Johns Hopkins university in the u. S. More than 8000 people have died from the virus the number fatalities in china italy iran spain and france are amongst the higher. With the latest jump in italy and spain the overall death toll across europe are suppose trying to soothe a province where the virus originated the World Health Organization says the continent has replaced today as the epicenter 5 days ago well strict lock downs are now in place across much of europe and the effect is very clear take a look at
Activity as Economic Activity grinds to a halt here in the u. S. , the white house calling for half a trillion dollars in direct payments to taxpayers and says we could see bailouts for airlines, hotels, and cruise industries, all the sectors getting crushed in todays market and crude oil down a staggering 23 . Now trading just above 20 a barrel we have every angle covered for you. Bob pisani is on the floor of the New York Stock Exchange. Kayla is in washington with the response to lawmakers. And were covering the latest on the virus itself bob, first to you on another roller coaster ride today here at the Stock Exchange. We have a quiet morning i say relatively quiet, it was down 6 tach take a look at the s p i urge you to watch it emotionally. He said we need a 30spring break. This slow rollout of a shutdown is not working market dropped quickly to the lows of the day. We hit the Circuit Breaker at 12 50 eastern time, 15minute pause. We reopened. We have not dropped to the he second
A vote failed again and as new york becomes a epicenter of the outbreak in america, more states are taking strict measures to keep residents at home including michigan, massachusetts and louisiana. As we stand, the market is down 3. 4 on the s p 500. The dow is down 60 poin60 59 minutes left of the session weve got a huge lineup of guests coming up including the ceo of Quest Diagnostics to break down the latest on testing for the virus and former bank of america governor, mervy nn king he was governor of the bank of england during the financial crisis we are covering every angle of this crisis for you mike is tracking the mashlgt moves. Kayla has the latest on the stimulus bill. Steve liesman is covering the feds historic moves again today and meg is following the latest treatment developments mike, first to you on the market another big sell off despite another big fed intervention yes, definite ly a big sell off. Though i have to say the intentionty of it, i dont know if this is much
Well of course, were still waiting for more details out of d. C. , when we may see a vote steve weiss, i turn to you first. So we had this historic rally. Were trying to build on it today. Do we have something to work with here . I think we do so theres been a change in my thought process. I was actually very encouraged by the orderly selloff and not of huge magnitude on monday, not at least compared to what weve seen and mentioned that the buying last week, previously added some core positions yesterday, it went a little further than i would like to see, than any rational person would like to see, but i did add a little bit in the morning, supersized some positions. But heres how im looking at it i think weve now defined the bottom of the market sure, it could go a couple of percent lower, yes but its not going to go 20 lower, its not going to go 10 lower, nor are we going to go up in a Straight Line so the most important thing i believe about investing is being able to quantify your