Event. Good afternoon everybody. Thank you for coming. I want to thank our witnesses. This is something we have wanted to do and that is to have a hearing on the origins of covid19. With the select subcommittee, republicans as well as our ranking member on the Oversight Committee are going to give opening statements. We have two witness panels that will be presenting evidence. We will have some q and eight sessions. We will do at least one or two rounds if necessary. With that, i will give my opening statement. 4 million people around the globe have died from covid19. 600,000 of those debts are here in america. With every one of those deaths, there are still families and loved ones in morning. The entire world has been turned upside down. Our children have lost a year of their livelihood. Millions of those children lost an irreplaceable year of in classroom learning. Governments have borrowed trillions of dollars responding to the pandemic. We have a simple basic question yet question.
bremmer, and gabriela santos the dow is down now almost 700 points again coronavirus fears sending the market plunging. the dow falls at one point more than 1,000 points at session lows all sectors going into correction territory which means 10% off their highs. stocks are off to the worst level of the session after jay powell came out with a statement saying the fundamentals of the u.s. economy remain strong and bond yields are plunging again sending mortgage rates to their lowest levels in eight years joining us for the hour, the final hour of trade is lindsey bell from allied invest. also with us is senior markets commentator mike santoli as always to take you through the bell lindsey, what are you getting from some of your clients and what are you telling them? our clients are retail clients. they are definitely concerned. so we re telling them first and foremost, please do not panic. this is why you should have an investing plan in place. and always go back to that pla
six nominees including u.s. ambassador to said di saudi arabia. spoke recently at the national review students idea summit. we ll hear from the head of economic advisers. good morning ladies and gentlemen. good morning. please join me in welcoming back to the stage lindsay craig. good morning. i know a lot of you were out listens to adam corolla. we are hoping it is a way to penetrate these issues to a new audience. we are not sure how all of that will go but we are happy. we hope all of you can go and see it. some of you signed up for the screening at heritage. they will be having that. if you any questions about that ask our registration team. it s being handled by another group, the registration i think there was a few questions about the capacity of the room. it s very popular. so thank you all for coming. we had some joggers that went on the fabulous run today. there was a good number. we got six right? it was absolutely beautiful. cherry blossoms are out. you can
today. it s the pull back in small caps that got our attention earlier they, too, now, josh, have moved off of their low so should we be focusing today on this comeback for stocks intraday or the fact that for the fourth day in five both the dow and the s&p are negative well, so it s a really it s a really outlying year just overall. we haven t really even challenged the rising 200 day. the entire day in the s&p. not even the 50 day for most of the year so i think if we are to have a 5% or a 10% pullback from the highs, i just don t feel like anyone should think that that s out of ordinary or that it signals some kind of a shift in the broader trend which is higher just to reiterate. we re in a secular bull market that began in the spring of 2013 the move from the lows off of 01 is not relevant to this discussion and the secular bull markets can go on for yeefrms the biggest issue have you is the valuation issue, but you ve had it now for most of the last three years, an
disclosure, nbc universal does own a stake in snap. blue apron are getting hit the stock is down 20% since the debut in late june a sign of trouble for companies looking to go public or not? let s bring in eric gordon business pro fet fessor whose focus is on ipos happy friday you to both eric, i think your larger point about snap anyway is in a it highlights the degree of difficulty when you were forced to compete with the likes of a facebook yeah. you know, it s great that snap is an innovator. the question is, can you be an innovator that makes money in the face of somebody who can imitate your innovation. i mean it s an innovation. but it s not all that hard to do somebody with a lot of money and a giant user base, user base being sort of the source of your revenue, you have to compete with them. i mean, can you actually do it i m wonlderidering is how mua resetting of the expectations of how great the companies r people are talking is snap the next facebook or at whi