A month. Come back to lena stronger and fitter and the boss of australias 2nd Largest Airline promises to reboot and stay in the sky after it collapses under the strain of corona. Rollout to come but well start with Donald Trumps declaration that he will suspend immigration into the United States through an executive order he said it in a tweet that it was in response to the coronavirus pandemic referring to cover 19 as the invisible enemy added that he has to protect american jobs. They dont want drew swift condemnation from some in the u. S. Democratic party who accuse trump of distracting people from what they describe as his faulty response to the outbreak john hendren with more now from chicago. The president issued this tweet in the dark of night and he seemed to do that for good reason he could have made his announcement at his daily News Conference where he talks about the coronavirus and all of the actions the administration is taking but by issuing this mysterious tweet late
About the impact later on in the show. Time now for bloomberg time now to dig a look at all the news you need to know, from d. C. To new york. We are joined by bloombergs michael mckee, taking a look at all of the Market Action and economic action out of europe. It was a tough day for services pmis. Michael absolutely, and the charts tell the stories. These were the worst numbers ever for france, germany, and the eurozone, showing the Service Industries worsen manufacturing, and in part due to a quirk in the data. The market, we get pmis at 9 45 this morning. The same sort of data are expected. We also get the Bloomberg Consumer comfort index, the most highfrequency Consumer Confidence data. That has been moved up two days. The crashing of the european economies has revived talk, or pushed, shall we say, talk of stimulus higher up the agenda. German chancellor Angela Merkel has already decided that she is going to establish a Stimulus Program to help revive the economy, and she has put
Today the Circuit Breakers were down 7 . A day where oil had its first decline, down 31 . The treasury went below. 15 a record low which tells you the bond market is terrified its also a day where you probably lost a lot of money its probably what happened to you. Thats because, of course, the dow plummeted 2014 points. Its worst point drop ever. The s p plunged 6. 7. Nasdaq 2. 159 now the dow was at 2. 14. It lost that much. Okay it happened. What the heck got us here . Where do we go next . First todays sellers fear we are going into a coronavirus induced recession and theyre trying to get out of other people who want to sell. Just trying to get aahead of them that may sound fanciful that we had six cases in this country and 22 deaths. In the end, it seems like a super food than the playing. As the president tweeted earlier, 37,000 americans died from the flu last year yet nothing is shut down life and the economy go on, end quote. But the marks were not reassured, not the bond marke
Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
Ranking executive to leave amidst the 737 max crisis. Nike names a new ceo. John donahoe will take over next year as the Company Looks to sharpen its technological edge. Shery first, lets get you started with a quick check of the markets. We are continuing to see pressure on u. S. Futures which are down 1 10 of 1 . This after we had the major indices finishing in the red. The s p 500 lost 4 10 of 1 . We had some weakness for the tech sector offsetting the rally we saw in energy companies. Oil jumped after the report of the opec plus discussing their cuts. The dow down to tenths of 1 , while the nasdaq lost 7 10 of 1 . We have uncertainty over what happens with brexit. We had key votes happen in the u. K. Parliament. We will discuss that later in the show. We also have a mixed bag of earnings when it came to those results out of the u. S. 1 5 of s p 500 companies are reporting this week. We have some solid performance out of united technologies, Harley Davidson but also disappointment f