tv Cavuto Coast to Coast FOX Business March 5, 2020 12:00pm-2:00pm EST
it will lower triglycerides. it doesn't make sense at all. it is completely counter intuitive. pass it around. stuart: i'm not supposed to eat -- i have got three seconds, two, one. hey, neil. it's yours. i'm leaving the cake on the set. neil: we're doing the under and over here. so good luck. thank you, stuart, very, very much. markets continuing sell off. dow, s&p, nasdaq, erasing a good chunk of gains yesterday. in case of dow about half the gains. 10-year treasury looking to record lows. mortgage rates following along. we're hearing from the vice president meeting with the 3m ceo all over the coronavirus supply issues. a lot of fast-moving developments. let's go to blake burman at the white house with more. blake? reporter: vice president mike pence who is leading government response to the coronavirus should be landing at minute in place, minnesota, you're right.
he will meet with the ceo of 3m once he arrives there. that company makes in part surgical masks suddenly becoming popular. the vice president reminded not like you need to run to the pharmacies to stock up to get these things. rather, it is the care providers who need the products that 3m produces. listen. >> it is very important to say that our medical experts made it clear, the american people don't need to buy masks but we want to make sure that people that are caring for the american public have the proper protective gear, masks and gloves and goggles, to be able to be safe as they administer their care. reporter: that's part of the reason why he is heading to 3m at any moment now. after that the vice president will head to washington where he will meet with the democratic governor of that state and washington's emergency operations center. as you know 10 people in washington have died due to the coronavirus.
the vice president said he had no concerns at all about traveling to one of the hardest hit areas. >> i'm a real believer just as the president is, in sitting down, sitting nose to nose as the president did today with executives and asking the questions and making sure the american people expect nothing less. they expect us to be there for that community and we'll be bringing our task force out to make sure that washington state has all the support that they need. reporter: we just heard from president trump a little while ago. he took to twitter and gave his following thoughts on the coronavirus, noting that when you look at number of cases and deaths worldwide, they are significantly higher than the number of cases and deaths here in the united states. the president ending that tweet by saying, we're working very hard to keep these numbers as low as possible. neil, should be getting sight on the vice president in minneapolis probably next 10 to 30 minutes. neil? neil: thank you very much, blake blake burman at the white house.
apple, microsoft a host of others looking to curb reliance on china but it might be a little too late. major airlines looking at major losses. everything again coming from what happened with the virus. more to the point is not happening in asia. kristina partsinevelos with the latest at the new york stock exchange. kristina. kristina: you're seeing the airline industry hit domestically. that is a major concern. a statement today from the air transport association, that the cost to potentially bebe 29 billion. so definitely a huge change because because of the impact of the coronavirus. but if we take a look again at those individual stocks, united announced they will cut 20% of their international travel by april. 10% of their domestic travel. then you had jetblue saying they will cut back on domestic travel. they said they will also try to cut costs.
hiring freezes. they're offering voluntary leave packages. overall trying to cut coasts and conserve money. then you have southwest putting out a statement seeing a significant decline in demand. showing apple on the screen. apple told retail employees there could be a possible delay in iphones as well as iphone parts. this having to do with some of the suppliers that are based in china. retail employees. these are the ones apple stores are told they can provide loaner devices to ease any delays but on the flipside, the positive for apple. they have reopened 38 of their 42 retail stores in china. and since they're talking about big technology. there is no global guide lines how to focus and how to mitigate the coronavirus but many companies are taking it upon themselves to tell their employees to stay at home, and work from home. more specifically big technology. we have now known that amazon
staffer has contracted coronavirus. a facebook contractor, not a full-time employee also tested positive who has now been told to work from home. facebook stadium east office is set to close. microsoft as well as twitter put out notes to the employees, strongly encouraging people to work from home. last but not least, we'll go full circle bring it back to the whole travel conversation, cruise lines are getting hit drastically. look at royal caribbean down 15%. carnival, 12%. we know a second cruise, the grand princess is right now in limbo off the coast of california. there is 2500 people on board because 21 people have shown flu-like symptoms, according to grand princess and just the statement right now, we're being told that they may be joining, driving up or floating up to san francisco this afternoon. back to you, neil. neil: kristina, thank you very, very much. take a peek at the 10-year
treasury, sinking to record lows. 30 year mortgage record low, 3.29% this week there is a delay on this. when you get the latest numbers by several days here. that will likely be a 3% or under. some aggressive lenders try to get it much lower than that. so obviously that is the backstop for a lot of consumers between much lower interest rates, savings for those in debt, much lower gas prices. that is supposed to sort of be the backdrop that you would like to see in a market like this but the market doesn't seem to really care about that positive backdrop for the time-being. john layfield on all of that. agf chief strategy policy greg valliere. it might prove the case it keeps them buying throughout all this market craziness but your thoughts? >> well, things have not fundamentally changed from a couple months ago. we're still in a very good economy. we added a bunch of jobs in the
private sector this month. things overall look very good for the future. so it is not fair to the consumer to really get bogged down with this fear-mongering. the coronavirus is obviously fate at that and it can be a hazard to health but however it is still affecting far fewer people than influenza and there is no reason to really hold ourselves short for the consumer in the future of retail because of the virus. neil: greg, how is this all playing out? it is hard to get a day-by-day read of the markets because they're pretty manic. but in general the economic impact on this country is obviously much more limited if i can say that compared to asia, compared even to europe. what do you think? >> well i would say, neil in this town we do one thing really, really well, that's spend money and i think there's -- i have never seen quite as many trial balloons as there are right now on doing
more. whether it's maybe assisting people to go on sick leave. whether it is lifting all tariffs. whether it ace a temporary tax cut, list goes on and on about ideas being floated and this little bill, that will pass next few days, 8 billion, that is a rounding error. i think there will be talk in the next few weeks about a really big stimulus bill. neil: john layfield what is your sense of the impact this is having on the markets now and how it could? it does seem to echo just in bigger numbers the ebb and flow we had on the prospects of a trade deal with china, now something much bigger at stake, this virus that has gripped the world, eminated from china, what do you think? >> something much bigger and i agree what erin said influenza being so much more affecting to public health, the difference, flu doesn't cancel things like
arnold classic in ohio, and doesn't cost airlines to lose $100 billion. i'm not disagreeing with what erin said, looks like the coronavirus will take off .5% of gdp globally. projected by oecd, 2.9%, lowest since tween. take another half percent off that. soccer games in italy played in front of no crowds. baseball games, shanghai disney closed no crowds. the response to this virus is so much worse than what the virus looks like actually is, that is what is going to hurt the economy. a lot of that spending is not going to come back. neil: erin, i wonder about that too, i talk to normally rational, very calm people, swearing off going to the movies. won't even go to their kids high school basketball games. i'm not saying they're indicative of the population, but when i hear, see that kind of stuff, i can well understand where the airlines look at
118 billion-dollar tab on losses right now because it becomes a self-fulfilling prophecy. do you worry about that. >> exactly. i think that is exactly the point here, is that by causing irrational amounts of fear we will then fulfill the prophecy that the economy will take a hit. that said retail is actually benefiting in some ways from covid-19 because people are standing in line and they are waiting, selling out at walmart and at cvs and duane reed, everywhere that sells all of the health care supplies. however, we also, we just are it's not, it is just not fair to the american people to cause such chaos and hysteria over something that could be really detrimental to the economy because of excessive coverage on media. neil: yeah. you know how we are in the media. greg, when you talk about washington, the mind-set there, is this being viewed
increasingly as a game changer? whether justified or not, it is changing a thing, not only on the legislation this year but on a lot of things this year? >> i think in terms of economic policy it will be stimulus on steroid. and if there is one industry to watch, the canary in the coal mine, you mentioned a couple minutes ago, it is the airlines. if the airlines get a big aid package because they're maybe teetering on the brink, i think every other industry will get in line behind the airlines. neil: interesting. guys, thank you very, very much. for those watching at home you might be wondering on the right-hand side of the screen, cambridge, massachusetts this is the outside home of senator elizabeth warren who you might have heard called quits on presidential quest. the question is what will she do, announce support for bernie sanders more kindred spirit or joe biden. no way of knowing. that is something the street follows. yesterday's so-called biden buy.
the dow soaring 1100 points if he were to be the democratic nominee he would be less damaging to the markets than bernie sanders. it is sort of a flip view. now the question is as elizabeth sanders departs the race, no longer siphoning votes away from bernie sanders, now where does she helped her support, after this. ♪. [ applause ] thank you. it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. i love you! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ to feel connected. it all starts with an invitation. the invitation to lexus sales event now through march 31st. lease the 2020 es350 for $379 a month for 36 months and we'll make your first months payment. experience amazing at your lexus dealer.
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neil: pardon my screw up before. we're waiting for massachusetts senator elizabeth warren. she is ending her 2020 run, continues to talk back and forth where will she commit herself? could she go to bernie sanders sort of a kindred spirit or joe biden? no way of knowing. we know she is stepping out outf the race.
clears the field for bernie sanders for future primaries. it is really not that simple. we won't know until she comes out to explain the decision or decides on someone else to carry the baton. doug mckelway with more on this. doug? reporter: we'll keep an eye on the front door of her house in cambridge, massachusetts, should she come out of the during the course of this live shot. joe biden's showing super tuesday shaken up the field. it is a two-person race for democratic nomination between biden and sanders as elizabeth warren is expected to announce her dropping out at any moment now. 12:30 is the best guidance we have on that. that after her lackluster showing on super tuesday, including the third place finish in the home state. it raise as interesting question you just posed. could the far left warren campaigned for free tuition and med compare for all endorse bernie sanders or will it be joe biden? or will she become bernie sanders's running mate? >> it's too early to talk about
that by certainly i have a lot of respect for senator warren and would love to sit down and talk to her about what kind of role she can play in our administration. reporter: that was sanders on the rachel maddow show last night. the big momentum is right now with a rejuvenated joe biden. she has what sanders does not have the appeal of african-american voters, suburban women, older democrats who tend to be more reliable voters. >> bernie, you got beaten by overwhelmingly support i have in the african-american community, bernie. you got beaten because of suburban women, bernie. you got beaten by hard-working middle class, folks, bernie. you have raced a lot more money than i have, bernie. reporter: sanders has the support of young progressives. it doesn't appear to be translating into votes. >> why are young people not voting? >> this is tough stuff.
i am trying to do that. i understand easier older people voting for their whole lives but we're working really hard to try to bring people out. reporter: sanders continues to project an air of optimism. earlier this week his campaign announced it raised $46 million in february from average donations of only $21. the most common donate tore? teachers. sanders will use a lot of that cash for upcoming march 10 contests in idaho, michigan, mississippi, missouri, and washington and march 17th primaries in arizona, florida, illinois and ohio. keeping our eye on the front door. neil, back to you. neil: we're watching it closely as well, doug, thank you very much. eric cantor, virginia republican, former house majority leader. get the read on political developments. democrats seem to be rapidly coalescing around joe biden and i'm wondering whether republicans are fearing that sudden unity out of party? >> you know it is amazing, neil, what has happened over the last
week. neil: absolutely. >> so many people -- neil: especially at this time joe biden was dead. >> they were writing obituaries for joe biden. now all of a sudden we see in all the reporting about his momentum, his inevitability, i just think anybody who says that with any certainty does not know what they're talking about. neil: i hear. >> you we'll have to wait and see how all this plays out. with elizabeth warren now out of the race, you know, what you will see is bernie's ability to consolidate that progressive vote in the democratic primaries. she was the spoiler in maine, in massachusetts and -- neil: you could make a argument if she were not in it, sanders would have picked up at least a couple more of those primary. >> right. neil: now the question is, if she were to put her support behind joe biden or maybe, i always get an idea when these people who are ripping joe biden a new one are suddenly announcing their support whether deals have been made, what do you think? >> i'm not so sure we're going
to see elizabeth warren go to joe biden, but you know, you never know. i do think -- neil: that would be a tough one to explain. >> it is hard though, hard for people who supported her not all of them are going to be in lockstep lemmings to do what she does. basically people that would ascribe to bernie sanders's philosophy, "medicare for all," all of that. it is again too early to tell where all this is headed. but we do know we will not have a brokered convention with the democratic party. neil: maybe not, maybe not but we'll see. let me ask you about a possible scenario where joe biden makes her his running mate? you keep the passionate sanders supporters given up on a party somehow they feel has missed this great cause. so you get the best of both
world. >> it is an interesting thought here, though, what is the biggest driver for turnout. the democrats have to make sure that their base turns out. if you saw what happened in south carolina, the indicators were that the african-american vote was actually down 5%. neil: right. >> but yet, there was increase in older white suburban professional voters who came out for biden. so there will be a concern i think in making sure that the african-american community comes out on their side. so i'm not so sure elizabeth warren is the best thing for biden. neil: it could unite the party? >> remember what unites them most i think is what they don't like about our president, right? >> you're right. that is the driver. number one issue came in internal polls, our own polls following this, defeat the president. >> right. neil: you mentioned, older suburban, educated voters. that is a weakness for the president right now. how does he respond? i mean, and now, given the coronavirus thing and fears that
it will ding our economy, should republicans be worried? >> so, neil, i've been with you on the show before saying that my party has to figure out the suburbs. neil: right. >> we still have that job ahead of us right now because it has been clear that in the 18 midterm elections and even in my home state of virginia, 19, we saw white, professional suburbanites who had higher education levels, were more moneyed, go in drove for the democratic candidates in the state elections in virginia and statehouse. so we've got to figure out the is suburbs. neil: virginia seems blue now. >> virginia right now is a state clearly all statewide officers have been democrat for 10 years. neil: right. >> we got a lot of work to do as republicans in the state. i think a lot of it has to do with the same picture you would see in a state like colorado let's say, where you have a lot of people move into the state. they're highly-educated.
they're making a lot of money and they have cultural sensitivities that may point them in the direction of the other party. i think it is our job as republicans to reach out to them. these are economic voters and i would think the economy would be a big reason why they would stay with president trump. neil: but what if that is called into question now? people are afraid -- way too early to your point, but that definitely going to be more companies coming out to say we're exposed to this. you know the airline situation, multinationals big tech companies, microsoft, apple, facebook to a company saying yeah, we're vulnerable here, that could take away the president's cause celebre. >> i think it is too early for us to talk about this. neil: do you worry about it? >> absolutely. another three weeks we may know. if you remember, we're a country of 330 million people. there are 10 or 12 deaths. none of us look at that lightly. neil: you're right. >> there are 150 some identified cases in the u.s. -- neil: you know how irrational people can get when they're
afraid. i told you earlier, told a guest earlier parents weren't go to the kids high school names, avoiding public venues. movie theaters reporting slowing traffic, restaurants the same deal, it can feed on itself. >> now is the time for steady, deliberate, strong leadership, you see that coming out of this administration now, that cdc work the out their kinks of not to get people overexcited. make sure we're doing the things that should be done. i know in the corporate world, moelis and company, abiding by the priority of health and safety of our employees and our clients. i think the same kind of leadership needed in washington. i think you will see the white house, president be out there trying to say look, fear can be a self-fulfilling prophecy. let's remember not always productive when the surgeon general had to stop going out to buy masks because it would preclude our health care professionals having masks they
needed them because it didn't help everyone else who is buying them. neil: they have to be speaking from the same book. >> absolutely. neil: thank you, eric kantor. voice of reason in time when not too many are. we'll follow all of that the vice president, by the way, he is meet today with the ceo of 3m, a big player in this whole coronavirus search for a cure, not only that, but more, a big industrial player out there as well. we learned the vice president will be in fort lauderdale this weekend meeting with a lot of cruise ceos as airline ceos hit the wires saying we're losing a ton of money this could cost us upwards of $118 billion. that is real money after this. 75% persistent cardiovascular risk still remains. many have turned to fish oil supplements. others, fenofibrates or niacin. but here's a number you should take to heart:
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>> heartbreaking thing at this point, we were friend with most everybody in the neighborhood. so all of the lives that have been lost, it is just, it is unbelievable, it is unfathomable and, it is, it hurts. it was difficult to sleep last night. neil: difficult in tennessee for days ever since that lethal tornado. the president is set to visit nashville tomorrow. grady trimble in putnam county with the very latest. hey, grady. reporter: neil, county officials say there are no longer any missing people in this county.
they found everybody safe and sound other than unfortunately the 18 victims here in putnam county. there are still some missing animals though. we saw a family looking for a lot of dog that they saw running through this area not too long ago. there are also people out here this morning going through the debris, trying to find any personal items or memorabilia that's left, that maybe wasn't carried away in these winds that came through here. also on scene today, our national weather service crews. they just announced, confirmed, that an ef-4 tornado caused the damage, bringing winds up to 175 miles an hour as it tore through this area and this county is mourning the most victims out of any in the storm, including the kimerland family, two young parents, their young son sawyer who just turned two. there is a picture of them. sadly 24 other people didn't make knit the storms.
amazingly people pitching in to help. the people who survived, it still want to find ways to help. they are pitching in to clear the debris as much as they can. people across the state have come in. yesterday, they said there were 2500 volunteers in this neighborhood and surrounding neighborhoods trying to help out any way they could. today they asked them not to come because they're trying to restore power so the power crews needed some space. people across the country want to help, neil. putnam county, the city of cookville, they set up emergency relief fund. called the cookville putnam county tornado relief fund. 100% of the money go to people affected by these tragedies here. neil: grady, thank you very much. just incredible. a lot of lines are forming as americans look to stock up on basic supplies. william la jeunesse has the very latest. william? reporter: turns out this virus
doesn't like alcohol including vodka. if you can't wash your hands with soap and water, alcohol and based sanitizers can help. problem finding them. consumers stocking on toilet paper, wipes, food. long lines and empty shelves at drugstores. >> some people came in specifically for toilet paper and canned goods, canned fish and beans, hand sanitizer, clorox wipes, things like that. reporter: so do these things work? there is some evidence they do. hand sanitizers can be effective against some germs. the fda says there is no control study showing they kill the coronavirus. lysol, micro ban claim their products are affected on hard surface with coronavirus viruses which studies show can live on plastic for nine days.
wipe down the entire surface, let it dry. wash your hand for 20 seconds especially before eating, blowing your nose, coughing, sneezing. consider a pandemic pantry or kit in case you need to isolate or self-quarantine. >> it is really a good idea at this point, at this time, for everyone to be familiar with what pandemic preparedness is. that involves having a home preparedness kit, understanding how you might take care of people in your home who become ill. >> here's a tip, given the shortage of sanitizers, neil, make your own. 75% rubbing alcohol which is dirt cheap. mix it with oil or moisturizer, put in spray bottle or vodka unless you have some laying around. at least 120 proof. 60% alcohol is the key. back to you. neil: or just have the vodka on hand. wow. william, thank you very much, my friend. i did not know that. meanwhile elizabeth warren we're waiting for her remarks. for those who didn't hear, she
stepped out of the presidential race. this is the scene outside of her cambridge, massachusetts home. there is no surprise there. she already decided that. the question, does she hint where she is going to throw her support, whether to bernie sanders. as i've been saying, like-minded, kind of concern dried political spirit, or to joe biden. fox news liz peek here on that, implications of all of that. let's say she surprises folks and throws her support behind joe biden. would that strengthen joe biden's nomination prospects and maybe hers for something else? >> yeah. i think whoever she throws her support behind is going to benefit from that portion of the progressive vote that is not ready to go as far left as bernie sanders. i think it wouldn't be a total surprise because remember in 2016, she actually ended up in hillary clinton's camp after dangling this choice out there for quite a long time, spurning bernie sanders's overtures. she could do that again.
i do think it at some point her followers will say, wait a minute, joe biden does not embrace the kinds of policies you've been on the stump talking about for six months. he is not a fan for medicare at all and other high-taxed proposals she comes out with. what do you actually believe in? this is authenticity test for elizabeth warren. that's a problem for her. neil: elevated, maybe it being a running mate for biden who half swallowed their own passions just to get on the ticket? >> i think whoever, actually i think this is really important issue. whoever joe biden picks as a running mate, normally that is not a really consequential decision for a candidate. in this case it will be. i think a lot of people will look at joe biden, his age, his frailty, although he tries to act like he is very hardy, i think we all know he is not. i think whoever is the vice presidential pick is going to possibly become president. if people don't like elizabeth
warren, they're not going to like her any better if she is the prospect of president if joe biden were have to step aside. i don't think he will do it. i think he will go for someone younger, somewhat less radical. after all the excitement about joe biden right now he is not bernie sanders. why woe you pick this progressive person to be your running mate? neil: are you surprised, i want to tap the wall streeter in you, that the markets responded as they did yesterday at least? some call it the biden rally, that he is at least more alluring than a bernie sanders. i don't know how that will explain today. maybe coronavirus fears. what do you make of that, that the street could deal with a president joe biden? >> i think it is a known commodity. with bernie sanders you're talking about after all a revolution so to speak. the way we know the market was -- neil: he is not exactly ronald reagan by comparison. >> i totally agree. neil: still raises taxes a lot, right? >> indeed but we have seen
presumably eight years of joe biden and joe biden-like policies and everyone sort of content with that. i don't think they're excited about it, that is joe biden's biggest problem probably. bernie sanders is a real wild card and really talking about overturning enormously powerful american interests and industries, energy industry, health care industry. joe biden is not advocating that. he is tweaking, talking about some energy policies that would probably hit oil and gas companies, some increase in taxes but it isn't this all-out assault on our capitalist system which bernie sanders is excited about. that is really what he is running to do. that was sort of a black swan event that bernie sanders could ever become president, when he won 46% of the nevada vote, it really sort of threw all those estimates that he was only favorable, looked upon favorably by 30% of the democrat primary voters out the window. all of sudden, 46%? holy crow. maybe he really could become the
nominee. maybe he could really become president. neil: coronavirus situation, whether sanders or biden i always argued the only one that can defeat the president is the president or environment sustaining him, very strong market and economic environment. that is called into question either of these guys has a shot, doesn't it? >> i think that's true. i think when you ally yourself comfortably and enthusiastically with the market and economy as donald trump has done, you are somewhat vulnerable there. the prospect, the problem right now with the market, as i don't need to tell you, neil, there is total uncertainty. we have no idea how the economy will be hit by this. neil: liz, i don't want to jump on you right now. elizabeth warren just left her cambridge home in massachusetts. looks like she will get an opportunity to talk to the media. let's listen to this. [cheering]
[applause] >> we love you. >> all right. so i announced this morning that i am suspending my campaign for president. i say this with a deep sense ever gratitude for every single person who got in this fight, every single person who tried on a new idea, every single person who moved a little on their notion what the president of the united states should look like. i will not be running for president in 2020 but i guarranty i will stay in the fight for the hard-working folks across this country who have gotten the short end of the stick over and over. that has been the fight of my life and it will continue to be
so. [reporters shouting questions] reporter: what guidance you give to supporters who don't know who to support now. >> let's give a deep breath. we don't have to decide that yet. reporter: what about women and girls who feel they're left with two white men? >> i know. one of the hardest parts of this is all those -- all those little girls who are going to have to wait four more years. that is going to be hard. reporter: will you be making an endorsement today? we know you spoke with joe biden and bernie sanders yesterday? >> not today. not today. and, we'll take a little time to think a little more. i've been spending a lot of time right now on the question of suspending an also making sure that this works as best we can for our staff, for our team, for our volunteers. i'm sorry.
reporter: could be coming but not right now. >> not right now. reporter: i know your campaign manager roger low said on staff call that he had no regrets. do you feel the same way? >> i do. i have no regrets. this is been the honor of a lifetime. 10 years ago i was teaching a few blocks from here and talking about what was broken in america and ideas for how to fix it. and pretty much nobody wanted to hear it. and i had a chance to get out there and talk with millions of people. and you know, we have ideas now that we talk about we just weren't even talking about a year ago. two cent wealth tax and universal child care could be real. we could make it happen. canceling student loan debt for 43 million americans. raising social security payments. those are life-changing events forepeople and we could actually do this. so i'm delighted to have been here and honored to have had this chance.
reporter: [inaudible] >> you know, i was told at the beginning of this whole undertaking that there are two lanes, a progressive lane that bernie sanders is the incumbent for, and a moderate lane that joe biden is the incumbent for. there is no room for anyone else in this. i thought that wasn't right but he evidently i was wrong. reporter: what would resonate more with voters -- [inaudible] >> as i said, i think that i was told, when i first got into this there are two lanes and i thought it was possible that that wasn't the case, that there was more room and more room to run another kind ever campaign but evidently that wasn't. reporter: home state massachusetts? >> i am deeply grateful to the people of massachusetts. look, back in 2012 they took a
chance on someone who had never run for public office before. they ousted a very popular incumbent republican senator, to give me a chance, to stand up on a bigger platform and fight for their families and i am deeply grateful for that. they returned me to the senate in 2018. i'm deeply grateful for that. they're the reason i'm in this fight. they're the reason i'm able to stand here today. reporter: two questions. >> sure. reporter: [inaudible]. >> i did. reporter: reflect a little bit what that was like for you. the other question is, role gender plays -- [inaudible] >> so, it was -- [inaudible]
i looked down and i saw my name on the ballot, i thought, wow, kiddo, you're not in oklahoma anymore, that it really was a moment of thinking about how my mother and dad, if they were still here would feel about this. i had gotten long email from my nephew, how proud his dad and brother is, how they all hood their plans to vote. it is, a long time. for that moment and it was, i miss my mom and my dad. gender, in this is a, you know that is the trap question for everyone. if you say, yeah, there was sexism in this race, everyone says, whiner! if you say no, there was no
sexism, about a bazillion women think, what planet do you live on? i promise you this, i will have a lot more to say on that subject later on. reporter: what do you say to your supporters for -- aces u.s. >> let's take a deep breath. think about this for a little bit longer. reporter: multiple days to make the decision. what were you thinking about? what informed and what -- >> a big part of it is to sympathy about all the people who turned their lives upside down to be a part of this campaign. all of the staffers who moved and worked long hours, they left jobs to be here, to leave from school. to think about what works for them. this isn't just about me. this is a whole lot of people who were a big part of this. and also our volunteers.
to try to fit through, for all those people who already invested so many hours and so much of their heart in the, the phone calls and the door knocks and coming to the office, helping clean things up, keep it all going. think about all those -- promises. you know, [inaudible] so those are the things i needed to think through and how we make all those pieces work at least as pest we can for everyone. and one last thing, to all the people who are affected by all the issues i talked about, whether they got involved in -- or even not at all, but, however we talk about this, there is still trillion 1/2 dollars of student loan debt outstanding. there are still tens of millions of people across this country
who one bad medical diagnosis they're upside down. there are still mommies and daddies all across this country, can't finish their education, can't take on jobs, because they can't find access to decent child care they can afford. and i had to think a lot about where is the best place for me to go, to keep fighting those fight. because, those problems don't disappear when i stand here in front of you. those problems go on and my job is to keep fighting and to fight this smartly and effectively. [reporters shouting questions] [cheers and applause] neil: there you have it, elizabeth warren has officially bowed out of the 2020 presidential race but if you were expecting her to throw her support behind either joe biden or bernie sanders, that did not happen right now. also, not that one has anything to do with the other, the dow
careened an additional 300 points as she was speaking. you can interpret that any which way you want, new york, indicating double coronavirus cases up to 22 from 11 yesterday. you look at prospect, this clears the field for bernie sanders, allowing him to be a lot more competitive in the future primaries and caucuses up for grabs. take your pick. the dow is down 922 points. liz peek for impact on all of that. charlie gasparino joining us as well. liz, what do you think, she held her cards close to her vest here. what do you think? >> she is doing exactly what she did in 2016, sort of dangling out there possibility she would help out one camp or another. she eventually in 2016 as we talked earlier went for hillary clinton. i think which surprised people then. it would be really surprising now because she has proclaimed herself a proud progressive. her policies are certainly closer to those being embraced by bernie sanders than those --
neil: two of them supposedly don't get along. >> undoubtedly that is the case. so it is a question, i think a little bit authenticity and sort of principle this is a matter of principle. does she embrace the policy or the person? neil: neil: what do you think, charlie? >> we reported last night she was unlikely to support bernie sanders. we reported last night she was unlikely to support bernie sanders or at least remain neutral because she despises the way bernie sanders led his campaign, not just the sort of comment about, she is a woman, can she win? it was whole bernie bros intimidation tactics. i would be really shocked if she does endorse bernie sanders at this point. neil: would you be shock if she endorsed joe biden? >> no. here is why. she has the opening this way. first off he will dingell something in front of her. neil: possibly a running mate spot. >> possibly. i don't know what she gives him. neil: you were saying -- >> theoretically a midwestern
woman like klobuchar might give him more if in the camp or duval patrick helps him with african-americans. even though he doesn't need that as much. you know, bernie sanders is going to have a hard time beating joe biden. i think it is almost impossible, if you look at the electoral map. neil: even with they were out of the race clearing the super progressive field, it's tough is? >> not even coming close. will he win in florida? what cuban-american, even if you're democrat -- >> will not win in florida for sure. >> win in new york? doubtful. just look at the map. the map is aligned totally against him. if she is a smart politician, want as say in the next administration, potentially the next administration, she signs up with biden. plus i'm telling you, she's she claims to be a capitalist with a heart. whether you agree with that is a whole another story. she has the rhetorical out not to endorse a socialist. listen, she may endorse bernie, i mean who knows.
neil: do you guys think when sanders went to massachusetts to campaign there, that that was really like rubbing salt in the wound? >> i think she was really irritated about that or angry about that. >> i don't think that was it. i think -- neil: culmination of the -- >> maybe it was one more thing. it was literally the thuggishness, okay, a lot of people in this building don't follow democratic candidates and don't follow them on social media, don't follow the sort of progressive base and how they comport themselves on twitter. this is a lynch mob. bernie guys play it as rough as anybody. people think trump is bad? you got to see these guys. they -- >> will she hold bernie accountable for that, charlie, he called that out many times and denounced them. >> doesn't matter. they hold him personally accountable. they don't believe he did enough. i know that for a fact. neil: so-called biden rally,
along with coronavirus, manic i'm get that, this notion it seemed unthinkable that the president wouldn't be reelected. might still be the case because the economy is still sound. between the coronavirus thing, emergence of joe biden looking like a more moderating threat what do you think? >> there is a lot of places. joe biden could have multiple senior moments will say, well, can he handle the coronavirus better than trump? you could make that case, right, if he does go there. i think they will script him from what i understand very tightly. neil: kind of like what we do with you. >> look how well it works. i think they will have a lot of surrogates out there talking a lot. neil: you do get a feeling they're propping him up. >> this could be weekend at bernie's situation. you remember that movie? neil: i don't take away, debate with donald trump, you just wonder, to think of upcoming debate with bernie sanders, who
is very fast on his feet, unlike my friend charlie i don't dismiss sanders has a shot at this nomination what are your thoughts? >> i think there are only 50, 60 delegates apart at this point. yes, there are southern states coming up and favor biden and i totally agree florida will work out for him but i don't think bernie is totally out of it for sure. if the warren followers, i think numbers show 40 to 50% of warren followers become bernie followers now. that will certainly help him. it certainly would have helped him second choice for sure. >> the numbers don't add up. >> maybe. >> not even close. >> but i tell you what, charlie -- >> biden would have to have a meltdown, total meltdown. neil: a state like michigan would go a long way to decide it. illinois would go a long way to decide it. i just wouldn't drop that -- >> i -- neil: i might have to bet you a meal at ted's.
>> i will buy you three meals at ted if bernie beats you one-on-one. neil: really any now i want to lose. >> almost impossible. neil: very important thing, they're 50, 60 delegates apart. >> who called bloomberg dropping out? >> everybody knew -- >> nobody came on the show. i did. neil: not here to credit -- i want to know, 50 or 60 delegates apart it is still a race, right? >> it is still a race. >> now. not tomorrow. >> biden is known to have pretty goofy moments. if he has a couple pretty goofy moments on debate stage -- neil: sanders has goofy moments too. the president has goofy moment. >> who will vote for bernie sanders now? >> sanders followers. >> no. they're 30% of the democratic electorate. >> 46 in nevada. young people, hispanics. >> you start whacking it up, not anymore. neil: remember this argument,
who right mind would vote for donald trump as president. >> he lost the popular vote. >> doesn't matter. >> fluked out in three states. neil: battleground states anything can and will happen. i think you prematurely. >> i can't wait to be on the show when he wins. neil: whatever you say, bounces off of you. >> listen, i clearly -- neil: including this. i want you to do this. >> biden could have multiple senior moments. neil: you're having a senor -- senior moment. >> everybody in this building minus 70%, minus you and me are praying for bernie to get in there. they better light novenas every day -- better go to is st. patricks. take a blowtorch -- neil: we'll have more after this. while the world keeps fighting for your attention.
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neil: all right. we are at session lows right now, the dow down about 950 plus points. it picked up a little more selling steam when we got word that elizabeth warren, who we knew was stepping out of the presidential race, but would not throw her support behind even bernie sanders or joe biden. her departure from the race does clear the map for right now bernie sanders so there could be an argument to be made that he's suddenly now looking like he could amass more delegates than would have been the case had she
remained in the race, dividing the vote. so that was my speculation, no one else's. don't attribute that to anyone else. that that could favor his nomination prospects and maybe that's going into the market that was celebrating joe biden looking so strong on super tuesday. just me. if you have any problems with that, call charlie gasparino. in the meantime, we've got deirdre bolton going through all the latest fast-moving developments. deirdre: yeah, neil, as you just showed our viewers what the markets are doing, the dow down more than 700 points. if you look at the laggards, exxonmobil, boeing, jpmorgan chase, united technologies. i wanted to make a particular shout-out for boeing. we just know that travel stocks are getting so pressured, whether it's hotel chains, whether it's other airlines, and that of course is particularly the airlines feeding into boeing, not surprisingly. jpmorgan chase basically asking thousands of employees to work from home. investors are showing fear.
the bigger fear, of course, is the potential disruption to the global economy so if you look at the broader markets, economically sensitive groups, financial, energy, industrial, these are the groups getting hit the hardest. california, we know, declaring a state of emergency after a coronavirus related death, 53 confirmed cases in the state. but countries, companies, extending quarantines, issuing travel restrictions. there is a very long list. i wanted to focus on the tech sector, though. amazon, facebook, asking seattle employees to work from home and then south by southwest, you know this event, it's a big see and be seen networking for tech, music event in austin, scheduled to start on march 13th. apple, facebook, twitter, microsoft, intel, netflix, all companies that are saying they are not sending any of their employees to that event. fear also showing up in the bond market and in gold. that ten-year treasury note down, we can see there, .908%.
then if you look at gold, investors still buying gold again and you will see on your screens, it is still up better than 1%. vp mike pence, we know currently at 3m company headquarters in minnesota. 3m one of the biggest manufacturers of face masks. and the trump administration is going to place a large-scale order for 3m, in fact, the company is really trying to increase their production of the product but really struggling to meet demand. factories, from our sources, are working around the world 24/7 for 3m. in fact, 3m's facility in china is fully operational. but as we know, the trump administration reported to order millions of masks from 3m and that contract could mean about $1 billion worth of coronavirus related sales. so from an investor's point of view right now, the safest place is even though 3m is down at this moment, seems to be somehow
one that addresses this virus. clorox is one that comes to mind. it's had its down days but overall had the strongest week if you compare it to the broader markets. neil: thank you very, very much. by the way, new york, i touched on this before, the number of known cases essentially doubled over the last 24 hours to 22 from 11. that also could be sort of, you know, dislodging the markets here. there's a lot of things competing for that, including a cruise ship being held near san francisco after california man who was on that ship died from the coronavirus. we have more now from san francisco. what do we know here? reporter: good afternoon, neil. public health officials taking no chances with the "grand princess" keeping it anchored offshore while they investigate a cluster of cases linked to a recent cruise and test at least 21 people who are on this ship now and showing flu-like symptoms. >> we are going to be flying testing kits to the cruise ship,
and we are going to be sending those back to the state, primarily to richmond lab, where we will be able to test very quickly, within just a few hours, those samples to dermine whether or not these individuals that are symptomatic just have traditional cold or flu or may have contracted the covid-19 virus. reporter: this after at least two passengers on a cruise to mexico last month contracted the virus, including a man who died yesterday outside sacramento. like the ten people who have died near seattle, he was elderly, 71, and had underlying health conditions. but where and how he caught this virus is unclear. the ship returned from the mexican riviera on february 21st and set sail later the same day for hawaii with more than 3,000 passengers and crew. 62 people took the two cruises back-to-back. they are now in quarantine. princess cruise lines saying
quote, in an abundance of caution, these guests and other potential close crew contacts have been asked to remain in their staterooms until screened by our on-board medical team. the "grand princess" was scheduled to return here to san francisco on saturday. that is now probably optimistic. what will happen when these passengers are allowed to return remains up in the air, too. it's possible we may see another quarantine like we saw with the "diamond princess" cruise in japan. all of this is still being worked out. this remains a very fluid situation here. back to you. neil: just incredible. great reporting, as always. thank you very, very much. meanwhile, market volatility not surprising, when you get hit by this good news/bad news, different news, just disturbing news. this as the ten-year treasury note as we were showing you was hovering at .90%. literally when i say that, it's almost like it used to be the change in a given rate in fast
market conditions. that is the rate. scott shellady, jessicatarlovand erin gibbs joins us. how do you play this? we seem to be giving up most of yesterday's gains. what the heck? >> as long as you keep hearing the word fluid, that translates to an uncertainty. we don't know. as an investor, i would recommend buy and hold. don't be looking for the bottoms just yet. neil: what about for those who had any gains, they get concerned, could anyone be dropping anything? >> i still see this as something that is recoverable. certainly there are going to be companies that are definitely going to have full impact. hotels, restaurants, even when we get a grasp and start containing this virus, it's not like are you suddenly going to go out to dinner five times a week to make up for this four months you didn't go out to dinner. >> i may not. neil: you take care of yourself.
there are many people like me. scott, let me ask you a little about that. how do you advise people who just can't stand these gyrations here? it might be other developments, like companies warning like airlines they are looking at $118 billion in losses, appears maybe we will get to bailout territory like we did with the meltdown. in other words, it feeds on itself. what do you tell customers who say oh, boy? >> i would tell them it's going to be here to stay for a little while. you've got everybody reacting to the hysteria but not really the facts. i'm apoplectic. i'm angry because we're not really treating the problem. we've got the fed that wants to cut interest rates, they already sent an emergency half percent cut, to help solve a virus. that's like your car dropping a transmission, you pull over and fill your tires up with air. it doesn't make sense to me. neil: wait, what's wrong with filling your tires up with air? i see what you did there.
go ahead. >> they're disconnected, right? all the interest rates cut, all the interest rate cuts in the world aren't going to bring people out of their houses, put them in football stadiums or soccer stadiums. there's nobody that's going to show up as long as we've got the virus problem. that's what i don't understand. we are using all of our bullets to fight a virus, yes, it's turned itself into an economic event but the only way you saw that economic event is not by interest rate cuts, by solving the virus. until we have some sort of way to treat it and/or vaccine, we are going to be in this world for a little while here. i think they are wasting their bullets and we just have to have time on our side here because we are overreacting. look, 1.5 million people die of diarrhea every year. where's the outrage there? neil: so glad you added that for perspective. >> thank you for coming to me right after that. now for a conversation about bowel movements. yes, ask me a different question. neil: well, this fear that it becomes real economically. in other words, if people freeze
doing everything they're doing and it's a self-fulfilling prophesy. >> absolutely. just a snapshot from what's going on at the company that i work at. i work at a digital media company with about 425 employees, supposed to attend south by southwest. they are already talking about contingency plans for that. neil: have they canceled stuff? >> the company's twitter, apple, are pulling out. we are talking about not going to that. we are talking about remote working. i have travel plans at the end of the month to the west coast. i got a call saying i need you to do this thing in new york. i'm supposed to be in san francisco. you are likely not going to be in san francisco. we are a small company in the grand scheme of what's going on here. people are freaking out and i really think the vaccine matters but the testing kits is the core of the panic here, the fact we have only administered, what, 400 tests at this point and you have e.r. doctors like the one on air yesterday morning who are saying to ed henry i'm going to
get coronavirus and all of us are actually going to end up getting it and hopefully it will be at a point where it will just be a few little symptoms -- neil: i don't understand the logic of that. i heard that. i didn't watch it live but i heard that. how does he know? >> well, he's interacting with people -- neil: i understand that. but to say that a country of 330 some odd million people is going to get -- >> everybody sounds like it's going to be a lot but the point is once we have treatments in place, this is going to be a low grade influenza type effect and the percentage of people that will pass away from this will be substantially lower than even 1%. >> which is what i would remind investors. this is a surmountable obstacle. this is temporary. this might be maybe -- we may assume this is going to be v-shaped. it may take six or nine months but this is not something that is a systemic financial economic problem that's going to take five years to recover. we are talking about months of getting back to normal. neil: remember the financial
meltdown started and then took a cycle of fear all its own that drove the narrative here. but you could be right. you want to bring into the mix the u.s. customs and border protection acting commissioner, mark morgan. this is the kind of stuff you search for, look for, and others at the border. mexico has had cases, this cruise ship in quarantine right now did have a mexican port of call stop. i'm beginning to wonder how this complicates those on the border policing that border. >> so we absolutely have multiple towns. what i can say is cbp along with other operational components have been involved with this from the very first stages. we are involved in conversations daily, we are part of the task force and we are taking our direction from the medical experts, from cdc and hhs. as they continue to assess the health risk as it continues to change, shift and grow -- neil: what does that mean? i know in iran, they locked down their border, where russia
borders china, they have locked that down as well. is that an overreaction? are any matters like that being considered? >> yeah, it depends. it depends on what the health risk is for that specific country. we started off with first 11 airports and as the health risk shifted we said hey, we will stop people coming from china. then as it continued, we added iran, we added travel, you know, advisories to south korea -- neil: i know that, but when you dlou lock down a border that's a whole other issue. i mentioned some of those countries, i believe northern italy, it's the same thing, they have a border locked down, i'm wondering whether that breeds still more panic. might be very justifiable from the medical community but that it breeds panic that erin was just talking about. >> i don't think so. i think what we are doing is we are being methodical yet decisive and cdc are continuing to evaluate the health risk. if we get to that point and they ask us operationally to do something based on the health
risk, i can tell you, cbp is ready to do what cdc recommends, what's in the best interest of the health and safety of this country. we are ready to do that. everything is on the table. neil: thank you very, very much. i know you have a busy schedule. we appreciate you taking the time. back with scott on that. scott, i think that does up the ante a bit when you talk about locking down borders. again, maybe very justifiable but i remember when they did this with italy and europe, it dovetailed, erin, correct me if i'm wrong here, but with the european selloff that gained some steam. where do you think this goes? >> i think we are going to be in it for the short term like this every day until we start to see some sort of -- i agree, better testing or some sort of way we can treat it. neil: or do you see the number of new cases increasing ever slowly, like what happened in china originally, until the cases outside china were moving at a faster rate, right? >> but you started off, the first time you asked me, what do
you have to tell investors. here's what you have to tell investors. this isn't going to be over until we deal with the virus. it's not going to be over by dealing with interest rates. that's what everybody has to know. we are going to try to do what we can around it but as long as that threat is out there, we will be talking about borders and locking borders, that's not going to change until we start to see some of those numbers get better when it comes to the virus. that's the problem. does anybody else think it's crazy that california's got 50 cases and one death and they declare a state of emergency? we can't err on the side of caution anymore. we have to err on the side of hysteria or we are not doing our jobs. that's what people have to keep in mind. it's here to stay in the short term. until we see the numbers get better, with the virus, not the economy, with the virus, then we can start to reinvest. neil: to your point, this doctor was on tucker's show, you get very smart people who have differing points of view on this. i had a guest on yesterday talking about this thing
mutating. he was very concerned that in china, it's mutated at least twice and yet, in the same hour, i had another disease expert who said well, that's what happens. i don't know, i'm not a doctor. but when i hear two very smart people within a span of 30 minutes saying a couple of different things, it worries me. >> especially when they have m.d. attached to their name. we are getting that consistently. i certainly want to see as many doctors as possible and it's obviously been great to have medical experts here on all the fox news programming because those are the people you are going to go and talk to if you are having these symptoms, but they are also the people that are ringing the alarm bells again about the shortage of testing kits and that there's a lot that's unknown here. we do know high percentages of people are going to survive this. this is not going to be the thing that wipes out the united states of america. but we also need to think back to where this started. it started in a country that lies about everything that goes on in it, right?
so we had the whistleblower doctor in china who unfortunately lost the fight, he died of coronavirus but was able to post a few videos before that happened. we had no idea really how this started, there are conversations about bats and different animals, livestock that it came from. until we can -- neil: we still don't know. >> we still don't know. as china is probably just riding the wave now that they are basically back on track, because they went first in all of this so they can say don't worry, it's all going to be fine but it's implicitly a lying partner in this negotiation. it's not like when spanish influenza went around. spain is unlikely to be lying to you. neil: but it does breed this sort of, you know, angst about it. one thing, you kind of touched on it before we went to the markets, people who are predisposed to sell stock based on a virus outcome we don't know, that's a scared reaction, right?
the fundamentals of the company that you are wanting to sell aren't long-term changed, right? >> no, in fact when you look at wall street estimates, we have seen some big revisions in profits downward, obviously, for first, second and somewhat third quarter as wall street still tries to get a handle on -- neil: this will lead to a quarter of contraction. do you buy that? >> for the first quarter, unlikely. second quarter, it might be but it's more of a flat estimate. neil: you're not panicking on it? >> no, i'm not panicking. i still think there's definitely room for it to go farther down. we came in, let's remember this market was priced exceptionally high. it wasn't just priced for perfection. it was priced for outperformance, blowaway performance. the fact we have come down, we are still at fairly high valuations. this kind of volatility, we have seen sort of three examples of it in the past ten years where
we have had very high volatility and fear for more than three months. neil: right around christmas, december 2018. >> that was actually an easy one. that was like one month. exactly. we have had others. i see this as it's unlikely that fear lasts for more than four months because we generally get a handle of how we are going to recover, how long it's going to take and that fear dissipates. neil: hang on to that thought. i want to give you an update on elizabeth warren who called it quits today. she says the fight goes on but she didn't tip her hand as to who she would support in the democratic race for the nomination. molly line outside the senator's cambridge home with an update. reporter: good afternoon, neil. a little less than an hour ago, senator elizabeth warren came out of her home here in cambridge, massachusetts, crossed the red brick, stepping to the pavement in the street, speaking to supporters as well as staffers and of course, the media that broadcast to the larger world that she would be dropping out of her white house run this year, but she said the fight goes on. she says this run, this
campaign, was the honor of a lifetime, that she has no regrets. she lamented what she had talked about as being two lanes, the sanders lane, the progressive lane, and the biden lane, the moderate lane, and that she had thought there would be room for another, a different kind of campaign, as she began this race. she was also asked about the fact that there were now two white men as the front-runners in the race and she said she thought all those promises, all those little girls wait four more years. as you mentioned, she did not make an endorsement as to who she would get behind in this race. take a listen. reporter: are you making an endorsement today? we know you spoke with both joe biden and bernie sanders yesterday. >> not today. i'm going to take a little time to think a little more. i've been spending a lot of time right now on the question of suspending and also making sure that this works as best we can for our staff, for our team, for our volunteers. reporter: it could be coming,
just not right now? >> not right now. reporter: not right now. so we are waiting to find out, of course, who the senator will ultimately endorse in this race. we called the staffers before the official announcement out here on the street. she talked about some of the things they had achieved over the course of the campaign, but she had raised in conversation she had across america, talking about fundamentally changing the substance of the race, highlighting things like the 2% wealth tax, universal child care, counseling student loan debt, reducing the racial wealth gap, breaking up big tech, expanding social security. those are the things she talked about when she talked about the fight continuing, going on in this race. a lot of emotion in her voice today, a shaky, raspy. some of that may be because of the many months that she spent out there on the campaign trail, more than a year, in fact, beginning her campaign in lawrence, massachusetts, a mill town to the north, ending it today here in cambridge,
massachusetts, the upscale community where she lives today. that is how things wrap as we await the next chapter in her life and particularly so much political interest into who she will throw her support behind, potentially where her supporters may throw their support to come. neil? neil: could go a long way to deciding this democratic race. thank you very, very much. let's get the impact on all of these cross-currents on the markets. we had been down about 1100 points, in other words, essentially wiping out yesterday's gains. now down about 964 points. we are still dealing with record low interest rates here. the reason why we sort of cover these two weird market reactions here, not weird in the sense of one's bad but one's good if you are in debt and looking for more af affordable rates on that debt, obviously where are you going to run to for yield, you run to stocks because it's a lot higher than you can get in treasury notes and bonds. by the same token, when people don't do that or don't see the immediate bang for the buck, mortgage applications or
refinancing activity to the degree a lot of people think we should, those people start freaking out over that. again, it feeds on itself and bond prices go higher, yields go lower and stocks go lower. everyone is shaking their head. all right. we have comic perspective from experts in the know. joining our august panel is lily and scott back with us, erin as well, jessica. lily, when you look at all these developments it doesn't matter the group, doesn't matter their political persuasion. we are human at our core and we get concerned at our core. what do you tell people? >> well, at the end of the day, we need to make decisions when it comes to the markets, it's a long-term decision. i love when we hear the experts say stay still and ride the wave. neil: what is long term to you? >> long term is when you are buying stocks or putting stuff in your 401(k), which is really
what your average american is doing, it's retirement funds and things like that, unless you are day trading, which you could have a lot of fun getting a lot of stuff at a bargain, you got to think that way. that's what investments are for. neil: a lot of people are looking and saying i don't want these to fritter away. >> once again, i think when we do that and jump to making changes so quickly, we become part of the problem which is compounding, too, the results of this uncertainty which once again, we heard it before from the panel, uncertainty is what's feeding a lot of this. until we have a solution, the market is going to continue to be in a freakout mode of reacting day to day to the 24 hour news cycle. neil: scott, the older i get, longer term for me is like dinner tonight. how do you guide people like that? i guess it does depend on their age and time horizon, right? >> i would say to you don't buy green bananas. that would be my first advice. neil: thank you very much.
>> here's the problem. the sukology psychology of this fickle. to your point earlier, we set a new record on negatively priced government debt in europe last week, i believe, at 13.5 or 13.3 trillion. they have gone into the negative to try to spur their economy and force money back into the stock market for a better yield. but what's actually happening, the unintended consequence is it's turned out that most inflationary thing you can think of which is negative rates, has actually turned out to be deflationary because the folks in those countries are putting their hands in their pockets because they don't understand what's going on. they have never seen this before. so they are not running out to buy stocks or buy a house or spend, spend, spend. they put their money in their mattress and will wait it out. that's the key thing here. the psychology of these problems is very very fickle and that's what needs to be managed. not the interest rates or anything else around it like that. it's got to be the actual event. i think that's a big problem. >> i would say that given that
we know already that several of the banks are pre-hiring for spring rush of refinancing and home buying, and that we saw homes are still increasing in prices, i don't think we have the same capitulation we are seeing in europe where people are no longer buying or spending. in fact, a think a lot of americans are looking at these new mortgage rates that are hitting new lows and saying it might be time for me to refinance. i don't think the american consumer has yet to say i'm just not going to do anything. we actually are predicting a very high spring season when it comes to home prices. neil: you know, on that notion, i try not to politicize these events, but baked into the mix this week was the sudden emergence of joe biden who is deemed to be poll-wise the biggest threat to the president. i always said about markets, you guys get tired of hearing it, they are not red or blue, they are green. they love making money. they made a lot of it under bill clinton and made a lot of of it
donald trump. the notion has been he's next to impossible to lose the election. now it might not be the surest of sure things and it's working into the equation. >> well, two things. one, as someone who was absolutely gutted on election night 2016, it is not smart considering how strong the economy is putting aside this pandemic, to think democrats are going to retake the white house. it is very hard to unseat a sitting president, especially one who has a good economy. if someone is able to do that, i believe it is joe biden, who stands as a unity candidate, not necessarily just on the democratic side but also bringing in as we saw in places like virginia, independents and moderate republicans who see him as a vote for normalcy. you saw the market respond to that. remember the week before -- neil: like in comparison to bernie sanders? >> essentially we have a two-man race and tulsi gabbard who i imagine will exit soon. the week before, there was all
this conversation of the market going all over the place because sanders is in the lead nationally in a lot of these states or is it coronavirus. this week, the question is did this settle down because we are moving closer to vaccine or getting it under control in terms of the reaction and joe biden is in the lead here. so in terms of what people who work on wall street are thinking, is it still going to be donald trump, i imagine that still is their gut at over 50% but both outcomes are things that they understand and they know. bernie sanders is the big unknown. that's part of why elizabeth warren getting out of the race i think also substantially matters to wall street types who were fearing, at least i heard from people that i know that work there, her as much as bernie sanders or more, actually, because of some of her reforms specifically targeting wall street. neil: all right. we have the dow down about 950 points. we will look at that and how this whole virus situation plays out in california. a little more than 50 cases, the governor there declaring a state of emergency. many are criticizing that
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death on board of someone who had contracted the coronavirus or afterwards, i should say, has since passed away so they are looking at everybody on the ship here to say whether they had possibly contracted the virus. the company putting out a statement there are no confirmed cases of covid-19, the other term more widely used in the medical community, for the coronavirus, currently on board. the groups include guests and crew who will be tested before arriving into san francisco. markets right now hovering at around a 903 point tumble. believe it or not, that's the good news because they had been down about 1100. kristina partsinevelos following it at the new york stock exchange. kristina: i like the positive note you took there. amazing what two weeks can do. you mentioned this 1100 point swing to the downside. yesterday we ended up over 1,000 points higher. so a lot of volatility here. you had a great panel before the commercial break, i want to make
it concise as to the catalyst for this selloff. there are several reasons traders, analysts, everybody is weighing in on this. you have covid-19 and the coronavirus, it's so difficult to quantify the impact on companies around the globe, will this be a one-month thing or go well into the summer and the fall. then you have the ten-year yield that continues to fall under 1%. like you said, that feeds on itself as people move over there. then this psychological aspect, bottom-feeding, trying to buy stocks the moment they drop lower and the entire panic. we take a look at the sectors, because the ten-year yield did hit well below 1%, you are seeing several sectors like energy, like financials, that often happens, and if we can d end, i will close this out right now, all the people at home, libations not doing well, uber, lyft, planet fitness. don't worry, olympics 2020 still on. neil: i apologize for that. we had some audio problems.
meantime, chinese scientists are identifying two strains of this coronavirus, whether that indicates it's mutating or whathave you, it concerns a lot of people who are wondering about how to deal with this, find and vaccine to treat the symptoms or whathave you. to dr. roger kline. doctor, very nice of you to help us out with this. how do you assess this virus right now? in your eyes, is it the pandemic health agencies, our own cdc, are fearing? how do you describe it? >> so right now, the virus looks to me like a severe flu. we are seeing spread, it seems to, if we can believe the numbers, seems to be stabilizing in china, continues to spread outside of china. we are seeing increased cases here and some deaths among elderly patients or sick
patients, most of the deaths that we have had have been in association with a nursing home in seattle. so really, what it appears to be from the numbers, it appears to be a bad flu. >> this is jessica tarlov. we have gotten mixed messages about timing of having a potential vaccine in the u.s., going as far as up to a year, but then we heard out of israel they feel they might be able to accomplish this in just a few weeks. if you can comment on that. then also, the president made some comments last night in an interview with sean hannity where he said that people who have corona, they could still go to work. what is your feeling about what people should be doing if they are displaying symptoms or have a full-blown disease at this point? >> first with respect to the vaccine, thank you, it's not the creation of the vaccine itself but it's the testing. it's making sure that that
vaccine is safe to give to people and that it works. that's what is going to be the larger time-consuming part. dr. fauci said it's going to be a year or so and that's probably right. it could be sooner, it could be later. with respect to the way people should behave, most people are not going to be exposed right now to the coronavirus. what they are exposed to is flu. what they should do is take precautions, wash hands, don't touch the face, hand sanitize and if they are sick, they should stay home. the flu has already killed possibly 30,000 people in the united states so all of those precautions would protect against coronavirus. if you're sick, you need to stay home. please don't spread it to others. >> dr. kline, i have a question for you. we hear so much about the vaccine and rushing to it and a year is already record time but how about the diagnostics of it? we have a swab for the flu. is there much work being done?
why is that not also a priority that we hear as much as the vaccine itself? wouldn't you agree that's probably a quicker fix as we are preparing a solution for this? what's your take? >> the diagnostics are extremely important and truthfully, laboratories in the united states have been prevented from setting up tests and from using them, so in a situation of overregulation by the food and drug administration has prevented academic laboratories from setting up tests the way they did in the h1n1 epidemic where thousands of patients were tested in just a matter of weeks. university of washington in seattle went live with the test on monday but they could have set it up weeks ago. they could have gone live weeks ago and they were prevented from doing so by fda regulation. this is new, this is something that again, in 2009 in the h1n1 epidemic, community hospitals, academic centers were able to set up testing and were able to test patients very very soon
after the outbreak started, and as a result, we were able to pick up spread and we were able to better understand how severe the disease is. >> i would ask one other question, since we are talking about identifying staying home if you feel sick. i understand this is more of a respiratory illness so we talk about it being very much like the flu but it sounds like its symptoms really are somewhat different and maybe people aren't as aware of what they should be looking for in terms of signs of illness, and if they should be searching for getting tested as soon as possible. >> well, the truth is, the symptoms are very similar and often indistinguishable from the flu. the flu is a respiratory illness and what we are talking about is fever, cough, body aches, you can get with both, but it's shortness of breath. these are very similar. in some patients, some people may be walking around with coronavirus that have symptoms of a cold and in fact, there are other types of coronaviruses that do cause colds in humans.
neil: you have been very patient with our peppering you here. a lot of people have been saying as soon as the warmer weather comes along, the virus will sort of die off. i don't know what that says about the possibility when colder weather returns. what about that? >> well, you know, we hope so. that's what happens with seasonal flu. we really don't know. we don't know the extent to which it's going to be with us. what we can say is we can look at numbers that we're seeing now, and we can understand most people who get this disease, get a very mild illness. if you look at south korea, where they have tested lots of people, they have over 6,000 cases, they have tested over 100,000 people. their death rate is well below 1%. what we know is it most seriously affects elderly people or people who are ill. and whether it's with us or -- if it's with us, we will develop immunity and we will deal with it. if it fades away, all the better and let's hope that's what
happens. neil: doctor, thank you very, very much. we very much appreciate your calm and proecfessionalism all this. you can teach politicians a thing or two. meantime, as the good doctor was speaking, we mentioned the south by southwest, i think it's a technology type conference in texas, a number of people have bowed out. we are hearing from liz claman, liz just called the public health, they are behind the ones to test the health and safety of a gathering of this magnitude in the region. as of now, nothing has been canceled outright. that said, quoting liz here, there is still an outside chance the actual event organizers will throw up their hands before then and cancel. they have not done that right now, although a number of participants have. stay with us. ♪
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at 3m, maker of a lot of surgical and related supplies that are in such demand right now. he will be meeting with cruise industry ceos i believe this weekend, on saturday. it's the kind of thing that's supposed to instill confidence and security in the markets. so far, it's not having desired effect but there are a lot of things pulling at this market and doesn't "making money" host charles payne know that. what do you tell folks? charles: you know, they are just two different dynamics. we were in the midst of i think, and the evidence kind of proves it, an amazing move with our economy, the weaker parts of the economy, then into the unknown. but for the most part, i want people to be cool, to be cautious, to understand that, you know, if you sell something like an apple today, would you really have the wherewithal to buy it at a low point this summer, or would you regret a year from now, six months from now, five years from now, do you have a college plan for your
children. keep in focus the real issues, the real reason i want people to be in the markets, it's not to capture day-to-day swings but to capture the full possibilities that the market affords people if they are patient and own great american companies. warren buffett wrote in his letter last week about the idea of owning these companies that are making a lot of money because their stocks ultimately go higher. neil: we are separately learning the senate is voting on this crooronavirus spending measure, believe a little more than $8 billion measure. does that make any difference? it's obviously going to be passed, quickly signed, but will it move the needle? charles: i think it could in a way -- this is one thing i'm really focused on in this show and i've got steve moore to talk about. over the last three or four decades we have lost complete faith in all the large institutions. congress, presidency, the church, large institutions like banks, the medical system, the internet, newspapers, tv news,
all of them have collapsed. we don't have a great deal of faith in any of these entities that we once did before. i think this coronavirus is a unique once in a lifetime, once in a generation chance for them to show what they can do, and it's going to be really important not just for the markets but i think for this nation. neil: charles payne, thank you very much, as always. charles coming up a little more than ten minutes from now. meantime, opec doing its best to reverse a tumbling oil price environment but for the time being, even threats of supply cuts not doing what opec would hope. phil flynn is following all of that from the cme. what are you seeing? >> russia and opec have been playing footsies. not talking about just meeting each other but talking about this opec production cut. opec overnight came out and said listen, we are on board to cut oil production by 1.5 million barrels. we will do one million barrels,
opec, the other non-opec members like russia, can pick up the extra 500,000 and we are ready to go. but russia is saying wait a second, we don't think we want to cut production right now. we want to keep the current production cuts in play and just roll them over at the next meeting. so right now, there is a disagreement and that's one of the reasons why oil is down right now. behind the scenes, things are going fast and furious out of opec. the opec secretary general basically came out and said just a few minutes ago that we're still talking to russia, this is far from a dead issue, and that opec will not let this market crash. i don't know if that means opec is going to ask independently of russia, cut production on their own or wait for russia to join later, or if it means they are going to try to shock and awe this market. that's another rumor going on on the floor, the show between russia and opec is all a show and that eventually, what they are going to do is surprise the
market with a much bigger cut of maybe two or 2.5 million barrels to try to shock the market. but right now, everything is on hold because we don't know, and it's still a moving target. as of right this moment, there is no opec production cuts. the talks continue even though the opec secretary general says they are committed to stop the price fall. we don't know what they are going to do about it at this point. neil: phil flynn, thank you very, very much. as phil was speaking, my friend gary kaltbaum from orlando, florida was reminding me the conference at orange county convention center next week has been put off, actually canceled. they expected about 45,000 but with the likes of sales force, amazon, intel, cisco and humana backing out, it was just a matter of time, maybe much as we were saying about the south by southwest confab of largely
technology concerns. jessica, you hear all of this kind of news that comes from left and right and i do want to touch on something that this is something we are going to hear again and again, because key people aren't showing up or the companies don't want them to go. >> you don't want to be the one that has god forbid something bad happen. if you are going to forge ahead and say no, show up, come to austin, 75,000 people are supposed to turn up there and they have people from alibaba that are coming. when you get on a plane to go to ces in january, consumer electronics show, you fly out usually january 6th, my plane this year was 90% alibaba. neil: that plays out again and again, right? it's like a domino effect. >> yeah. and if you can't get keynote speakers, then you don't have as many people coming in and why hold the conference if you are going to be operating at a loss.
neil: hotels, all those connected to this. >> yes. in fact, for these cities, remember we talk about canceling the all-star game in yi believe charlotte and the city said we are going to lose hundreds and hundreds of millions of dollars. the same thing happens for austin. we know when we are seeing these declines in travel, leisure, airlines, hotels, restaurants, all of those, that's something where they will see the losses and my point, you are mobile pr not going to make it up. you won't suddenly book five times as many flights. >> right. >> so those are really going the hit. we still have a tendency to spend money so where are we going to shift that spend and what are we going to do instead. certain types of food delivery servic services. >> exactly. i think this comes with a great
opportunity. maybe conference organizers become one solution that implements a virtual instant solution for what was the 75,000 people conference like south by southwest. i think people will figure it out, and we need to continue to have this knowledge exchanged which is what comes with these great conferences. we have to reinvent how they are done. this is a great time for some smart innovative entrepreneur somewhere to come up with a cool idea. neil: you are all here. get working on it. >> i was talking to a girlfriend of mine who has a child in the public school system and people feel like public school could be canceled here starting next week. what is going to happen when parents then who maybe still could go to work now have to stay home with your kid, you can't just leave them there. i think governor cuomo has been very on top of this and been very public and transparent about what's going on here but it's going to cost the individual states and federal government tons of money. neil: new york is a little
different than california. there, it's a state of emergency. california democratic congressman john garamendi with us now. you think this state of emergency call was justified? >> certainly is. we have infections in southern california, central california, we have had a death and we also have a cruise ship that's off the shore, off the coast of california that is also infec d infected. we have an air base in my district, travis air force base, in which there are people that are quarantined and some of whom have been infected. so yes, we have got a very serious problem in california. the state of emergency allows the state to bring all of its resources to bear on what is clearly an epidemic. neil: still, 50 some odd people, i believe close to 40 million california residents, you just scare the bejesus out of those 40 million, right? >> well, we have reason to be concerned. a lot of happy talk isn't going
to solve what is a very very serious worldwide problem. it can be solved. we need to marshal the resources, we need to put in place actually a month ago, the public health facilities and organizational structure to deal with this -- neil: i get that, congressman. i'm sorry for not being clear. but what does a state of emergency grant you now that you didn't have prior? >> it brings together and allows for the coordination of all of the resources that are necessary. first of all, the public health systems are up and running. it also allows us to bring into the public health system resources from outside of the state and from other parts of the state where the hot spots do exist, one of them being in my district. so that's one of the things. it also allows us to assemble the money necessary and puts california in line to be able to utilize the money from the $8.3 billion bill that the senate is
now debating and hopefully the president will sign, as that money would be immediately available and can be immediately put into the networks and the systems that will go out, test the people, do the isolations where necessary, provide the food services in the homes for those people that cannot get out, and provide the continuing operations of the hospital. all of that is and on the air force base itself. neil: real quickly, while i have you, sir, you have been a backer of former vice president joe biden. elizabeth warren as you no doubt heard stepped out of the race but she has not tipped her hand who she is going to back. what do you think she should do? >> well i would hope she would back biden. biden is clearly capable and will be a president and can put
the full government operations back in place as well as international and deal with the health issues at center point of senator warren's campaign. neil: would you back bernie sanders if he ends up being the nominee just the same? >> i will do everything i can to see the presidential nominee is the next president. neil: i'm kind of stunned here not going to support donald trump. you always throw a curveball at me. you always do that. >> come on, you're not surprised. neil: i'm kidding. thank you very much. congressman garamendi. whole thing on the race and everything else, will come and front and center what would you do, how would you hand dealt coronavirus, how would you marshall the government forces to deal with this? i guess this will get to be a big issue. >> absolutely this is one of the thing to pull up against a thriving economy which this is
hard to argue against. we're meeting with pharma executives or cruise ships executives. everything, it is a great moment if you're strategizing for a democratic candidate to slice the right sound bite use it up against the president. neil: like you're on top of it. you can't be too far afield from the president. what do you do. >> this is important lesson. we've been talking about this for months, the democrats, have fallen short you say the economy is in tatters, how would you fix it? you say the president is taking wrong stance to china, how would you do it? chris wallace tripped up amy klobuchar on "fox news sunday." only two people vote against the funding bill in the house. i assume all, maybe rand paul won't do it or mike lee. when you have uniformity here. we have constituents, we bleed red here, right?
every win is concerned that you make it as non-partisan -- neil: i don't think gasparino does. everyone has to be on the same page. >> they have not only need to address the health but also how it will affect the economy. how will they change. how we will embrace new technology to work from home if needed. take care of the -- neil: don't all politicians kind of roughly, in the same ballpark here, not pointing fingers at each other, that goes from the president saying mini-mike all this other nonsense, those going back saying things outland ish, don't we need to put moratorium on that? >> trying to put each other down, particularly opportunity for them to come up with creative solutions that gain that -- neil: not the other stuff. same thought. >> same thing. there is time for both sides to demonstrate they care about the american public at the end of the day. this is health and wellness. a public issue. and if fda is regulatory thing
getting in the way of diagnostics as we heard the doctor, fix it. neil: guys, thank you all very much. i leave you right now. thanks to the ladies sort of getting a grip of the reality here. we're all down 876 points. they did all they kid, neil. charles payne, to. >> i'm looking for any silver lining. neil: absolutely, bud. >> good afternoon, i'm charles payne, this is making money. the roller-coaster ride continues. a combination of panic and frustration. these markets are swinging back and forth as u.s. cities and states take more aggressive action to contain the coronavirus. how long will the wild swings last? the new trend my market pros are watching. we'll share them with you. the indices rallied 4% yesterday. on hope institutioning take actions to mitigate the fallout. we're talking emotional and economic. can we trust those institutions that we lost trust in for a long time? i will