expect to see them, my friend and we'll put them on cnbc thank you very much p. luckily with not quite the severest mats yet, we'll see what happens thank you very much for watching the exchange the market's down over 300 still. "power lunch" picks up the coverage right now >> thank you very much and welcome, everybody, to "power lunch" for a monday i'm tylerson with the market selling off as brian pointed out, stocks are gettinging hit hard as the coronavirus continues to spread globally the dow and s&p both having their worst days since october and stocks briefly wiped out all of their 2020 gains so far got full team coverage appears the coronavirus outbreak gripping wall street and seema is covering the biggest moves there. china continues to clamp down on travel and meg with us to break down how the u.s. companies are attacking this virus

seema, we begin with you >> with two hours left in trade, we're off the lows of the session. worst performing sector, energy and technology where as utilities and health care are better that highlights a slightly defensive tone biggest laggards, caterpillar, disney and apple apple to report earnings tomorrow it is shaping up to be a busy week of earnings with nearly 150 companies set to report. meantime, travel, lodging, casino name, these are the most notable movers travelers who want to modify or cancel their eye ten yars to chain. travel the to china being affect bid these fears of infection lastly, the companies with highest exposure, starbucks, win resort, high ligts the focus on the chy consumer the impact this virus could have

on consumer spending b about 7%. >> thank you for that. let's get you caught up to date on the wuhan virus the total number of confirmed cases is 2,899 more than 2,8 000 in mainland china. five in the united states. more than more than 100 people currently being examined for possible exposure here and 82 people have died as a result of the virus worldwide. let's go to eunice in beijing. >> thanks so much, contessa. well state media have confirmed the first death in beijing it was a 50-year-old who had traveled from wuhan, the epicenter of the earthquake, of the outbreak the beijing authorities had been recommending that people here in beijing as well as all parts of the nation wear masks, which is the reason i'm wearing a mask right now in this normally

bustling night life area now the government authorities have been moving very aggress e aggressively to try to contain what they've described as a strentenning virus u over the weekend, the chinese premier was put in charge of managing this pandemic he's currently in the hot zone of wuhan and this is after xi convened an emergency meeting on saturday describing the situation as grave now as you had mentioned, the chinese government has been putting in place many more travel restrictions. enter provincial buses are no longer allowed to come to beijing. that's been expanded to other cities as well including a very important port very important to international business there are also you know, expanded travel restrictions in 17 cities now and 52 million

people, which is double the population of texas. so a lot of different measures as well in terms of it's an extension of the lunar new year holiday. officially it's to february 2nd, but guys, a lot of companies are deciding they're going to stay closed for longer than that. trip.com just sent a notice to their staff that they shouldn't come back to the offices until february 10th. >> wow that's significant thaupg for that. and the cdc earlier today said there are no new wuhan viruses in the united states meg joins us for more on that. so no more new identified cases today. >> right just overnight that gives you a sense of how quickly these numbers move the case count did remain the same here in the u.s. at five with the cdc saying this morning it's now evaluating 110 samples of those, found 32 to be negative but public health officials expect more cases here

in the coming days they say the immediate risk to the general public in the u.s. is low and we are seeing pharmaceutical companies moving quickly to develop vaccines. we spoke to two companies today working on the vaccine front >> it's quite scary that it is going so fast, so broad in the world and so we shouldn't create panic, but at the same time, very worried that this could become a a global pandemic and therefore take all precautions and so why we started working on the vaccine two weeks ago. >> we've been working around the clock over the last couple of weeks to manufacture that first batch of vaccine and we're working to get that in the hands of the united states government, specifically the nih, within the next couple of months. >> and guys, companies are also working on potential drug, screening existing medicines and experimental compounds and getting to work on potential new ones >> jefferies put out a note about this

is there going to be a lot of movement from the companies who are players in this space? even the small bio tech and pharma players >> if you say stock volatility, yes, indeed. we have seen a lot in particularly small names and people are warning like jefferies jared holts there to be cautious on this. some names we're seeing are larger names than the micro caps they're an almost $3 billion market cap right now stocks up 25%. they said they're going to be looking to see what they could potentially develop here >> are you hearing from any of these big companies that there's a pipeline problem because of the factory shutdowns or lodge is cal shutdowns in china. >> companies haven't told us they're having any trouble accessing the active pharmaceutical ingredients china is a big supplier of those. we're trying to dig into it. but that is something people are warning about that that could be a potential problem b so as soon as we get reporting on it, we'll come back to you >> i want to come back to the idea of a vaccination.

is there a vaccination? they're working with the nih, they could get it into human testing within a few months so that's pretty quick. however, if these case numbers keep going up, it's not quick enough to help >> is getting a vaccination through the regulatory process a quicker process than bringing a remedial drug to market? >> not necessarily and actually getting approval for a drug or a vaccine isn't necessary always to deploy it in these kinds of situations. what we've seen with ebola is that experimental vaccines can be deploy ed in clinical trial bases and that can be the best way to get things out quickly then later we see the regulatory approval sometimes come. >> thank you very much stocks are off the lows of the day but still struggling very decidedly as the coronavirus weighs on the market the dow and s&p are both having

their worst day in nearly four months so is there more pain to come or should investors buy this dip barry james and -- barry, you're smiling. does that mean you're buying today? >> actually, i have been buying today. this is nothing to smile about obviously and the path of destruction is definitely impacting a lot of different areas from airlines to hotels and the like, but picking up perhaps some international holdings, buying some gold that's what i'm looking at today. nothing too exciting in that sense. but there are other opportunities perhaps in areas like bio tech like an amgen or you could look at folks like johnson & johnson. it's a strange thing, but there

are pockets that do offer some opportunities in this but i have to put the whole picture together we're probably in a period of a little pullback because we've ran so far so fast and the market just needs to get its wind back again. >> all right so bill, let's turn to you it's pretty obvious that if a country is fundamentally shutting down its travel and transportation networks as china seems to have done and cities like shanghai are basically saying we're going to be closed for business for the next two and a half, three weeks, until february 9th at the earliest, that that is going to shave economic output in that important country and that could have reverberations, not just in southeast asia and the neighborhood, but around the world. how do you figure this into your investment strategy? >> yes, i think one thing to think about is we do have a little bit of an example of this in terms of sars and how it

showed up there. same situation, well not same of course nothing's ever exactly the same. similar in this sense we saw particularly early on the real hit to travel, services, et cete cetera so things we're seeing now, we know macaw visitations are down 60% year over year so we know those are going to show up the thing to take a step back on is two things. historically, it snapped back quukly once the danger or at least the big part of the danger will pass. just know it snapped back quickly. the other side is when you think about let's focus on the u.s. here, we don't have a ton of direct exposure to say outright growth in china in a sense that is as long as our consumer, the biggest part of our economy, stays active, let's put it that way, our economy can really run on its own again, on the margin, it will be a negative, because again, it's more of a head wind rather than a tail wind.

it's probably more of europe and other places that maybe have a little bit more i'll argue direct exposure and more, but i expect it pass >> you mention the comparison to sars, but china has changed a lot since 2003 when the sars outbreak happen and you take a look at casinos, which is a space i know pretty well and back then, there were no american style resorts in macaw. there was only one big resort company there and it wasn't public ly held and then extrapolate that out to the chinese consumers in general to the amount they travel now. do you think, are you comfortable relying on that comparison to sars when you're getting ready to jump into the market and figure out when to make the investments >> you know, i agree that the some of the scale has changed, but one thing hasn't changed, which is the u.s. is still relatively self-contain nd the sense we are not likely to go into a recession based on

something that happens in china. obviously you can spin a worst case scenario, but in the end, i don't think that's the case. now that being said, you'll probably see some impact on first quarter earnings, per se the u.s. gaming companies that have some exposure there again i think -- >> would you jump into the casinos now? >> i don't know that i'd do it yet. i know we haven't done it in house yet. that i can say we're look iing for changes and have a few opportunities i think for individuals, i'd say we got so optimistic, i'd say as whole market wise, there was so much optimism, i'd say we have more prain to go here, but we remain net positive on things. >> you know, a lot of people have been predicting or thinking that a correction, a 10% pullback from the peak is in the

cards for early this year. is this that or is this likely to be more transitory than that and not a correction >> yeah, i mean i don't know if we get to ten. >> this is for barry, please >> sorry >> beg your pardon >> well, if we look at it, it is, it's a situation where the market is ripe right for a correction on the technical side, up 15% in just a few months and you have way too much enthusiasm around the market so it is prime even as we go through the earnings season what we're seeing is a real bifurcation. if you come out with bad earnings, you get slammed. you come out with good earnings, you get rewarded as it were. we see that as likely to continue, but i think there's a shift going on with the overall market more towards some of the more value, more defensive side of things and we could see this kind of bumble along, let me put

it that way, instead of a big collapse this is transitory and we think that the big things like the good economy the fed helping out and the momentum will keep the market going further later in the year >> barry, bill, thanks so much, guys >> thank you coming up, fears about the coronavirus hitting the u.s. markets today as we've been talking about. the hardest hitter, the airline stocks, united, delta, american, all sharply lower. and of course the casinos with exposure to macaw getting slammed today. will these fears be short-term or have a bigger impact on the economy? it's nt "weluh.exonpor nc ♪ ♪ ♪

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we are seeing a sell off today. the dow is down about 350 points heading for its fifth straight down day fears about the coronavirus hitting stocks so just how much will those fears impact the u.s. or global economy? steve liesman looking at the potential hit to gdp >> thanks. economists look to other influence outbreaks to gauge the possible impacts of the coronavirus but u they have to factor in vast uncertainties from the specifics of how this virus spreads and mu tats to how it changes in medical, organizational and communications tech noll jis world health organization resolved to save lives five outbreaks this century for

33 billion for sars in 20003 to 50 billion for ebola in 2013 experts estimate the cost may be along the lines with the hong kong flu at 570 billion or 0.7% of global income everything is measured against the 1918 influenza that killed 50 million people. the u.s. entered a recession in 2019 that lasted 18 month, but they say new technologies mean a repeat is a remote chance. ubs writes while we remain alert, we expert the outbreak's impact on the region, the asia region's economy and risk assets to be short lived. so three lessons from history. a pan demic is an ever present risk, two, they most hi don't happen and three, it takes a serious and unique virus to make a major impact >> stick around for this

conversation we want to talk more about the economic impact of the coronavirus and bring in alexis you. when we're talking about threat, the thing that gets me as steve was just talking about, the serious viruses are very rare, yet you look at the flu in the united states, which the cdc said had killed 6600 people by january 11th or so 18 million people had gotten sick why is the wuhan virus capturin so much attention? because of the quarantines >> if we think about it in interpreters of seasons, it's the lunar new year holiday so if we also look at global trends, against the trend of protecti protectionism, mobility and air passenger traffic are completely running against that trend and so we look at our current economic expansion tourism is largely driving a loft the bull u k of the economic activity. certainly the chinese outbound

tourists, so impact on the china domestic market, other corollary markets in europe is severe. >> is it severe just in the short-term or could this have a longer lasting impact? >> i'd say short-term. we go back to sars, that lasted six months roughly the same time period the difference back then when china's economy was growing at 10%, it was largely a manufacturing miracle. since 2005, beijing has been translating its growth into consumption driven >> is the consumer holding strong even though we had seen chinese economic growth in terms of manufacturing output, industrial production slow down, were the chinese consumer sort of the engine of that economy as well >> certainly the numbers really defy a lot of the slowdown in manufacture iin activity so chinese international tours spent $277 billion last year, which is an extraordinary

figure it far dwarfs the united states at $144 billion. luxury goods companies, a third of their sale, european counterparts are from china. so looking at they still had significant growth, maybe going from high teens to lower teens high single digits, but the china market is so significant >> but the chinese aren't thavling and spending. you're going to see a hit on luxury goods and hotels and airlines and so on i'm going to come back to contessa's question and pose it to you why are we so much more concerned it would seem about this coronavirus than we are about regular influenza that affects more and kills more? >> i am not going to make that judgment i think contessa and you are both asking medical questions. >> dr. liesman, step up. the medical and health authorities are more concerned about this my suspicious is it has to do with the particular ve rallty

and the way this virus is affecting people and that's really when you go back and look at the history of these things, there are two things that they care about morbidalty and -- sometimes they work together because high morbidity levels mean it's hard for the thing to b transmit. those are things you get involved with trying to game out the cost of all this thing if this is a particularly viral version of the flu that's very, very deadly, then you're strting to talk about more serious economic impacts so it's not like any of these people i'm talking to are doctors what they're doing is taking their cue from health officials who are take iing this very seriously. to the point where they're quarantining millions of people so we don't have to make that judgment we have to assess it and look and see where does it come on the spectrum you can look at some of these viruses and say they haven't killed a lot of people like saying there was a big flu o outbreak and nobody died

not exactly. massive efforts take place around the globe and there's even a new effort because of the fact these flus hurt developing countries much more than they hurt developing countries, the world bank has a new program to address these in developing countries. >> and we know that regular influenza has a major impact on the loss of activity >> all the time. sfwl when we look at what this outbreak is doing, it looks like it's had an outsized impact on treasury yield far more than sars did what do you anticipate will be the economic fallout u on seeing bond yields fall >> i think we'll see further vulnerabilities built up into the system with crowding into the ten year we've seen the negative impact on gold and oil. so i would say the longer term hits luxury goods in the next six months a lot of china centric u.s. companies announcing earnings this week. so just the downturn in activity across the board will be concerning then longer term economic impact.

the impact on employment employment via touri israeism a services is severe >> appreciate that stocks are making a bit of a comeback from the lows of the day early in the day the dow is down about 378. so fading a little bit it had really come off the ropes like a rope a dope big names are contributing to the losses now all those names will report results this week. so can the earnings drown out the china fears? we'll handicap that one next on "power lunch."

the impeachment trial continuing today and a new book are adding another level of complexity elan is tracking it from washington >> the news that john bolton spoke with president trump about withholding aid to ukraine in exchange, that could change the calculus here on capitol hill on whether to call witnesses.

already, we have heard from mitt romney who said he wants to hear from bolton and suggested some of his republican colleagues want to do the same. >> i think it's increasingly likely that other republicans will join those of us who think we should hear from john bolton and whether there are other witnesses and documents, that's another matter, but i think john bolton's relevance to our decision has become clear. >> now so far today, we have not heard john bolton p's name come up directly. instead, the white house defense team is focused on the historical tcontext for impeachment and for that, they called on ken starr. >> were crimes alleged in the articles of common law in impeachment in nixon yes. in clinton, yes. here, no >> now gop senators are still expecting to hold that vote on witnesses on friday but guys, right now, it looks like it could go either way. back to you. >> thank you very much

let's go to seema now for trading nation >> industrial stocks caught up in a sell off today on fears of the spread of coronavirus could pressure the global economy. this ahead of a massive week for the sector we have united tech, boeing, honeywell among the rush of earnings for what to expect, let's bring in the trading nation team does that bode well for the industrial sector. >> it's an area we like. i got to tell you, we're on hold and i think we got to see how these earnings reports play out. but if we get weakness in a sector after earnings, we think a good opportunity to venture in caterpillar, 13 times forward, 1.h times sales. attractive valuation, 3% dividend again, i'm not sure what will happen after earnings. we will not buy ahead, but look

for it to be a buyer of a dip after earnings >> what do the charts tell you >> here's a sector that's been stronger in equal weighted terms than cap weighted terms. in terms of selection and factors here, you want to stick with high momentum we did some work in our latest report, high momentum just starting to reclaim its leadership versus low momentum for the market broadly and i think that theme sticks for the industrial sector, too on the high momentum side. lockheed martin and dover. both stocks above 2018 and 2019, those are your leaders by those, ups and 3m the weak get wagger when market conditions sour. you're at risk if those turn lower if the market's going to turn lower >> yeah, we shall see. thank you for joining us for more trading nation, visit

our website or follow us on twitter at trading nation. contessa >> thank you for that. ahead on "power lunch," more on this market. fears of the wuhan virus drive the dow down more than a percent. we'll head over to the new york stock exchange for the trader's take plus oil down nearly 2%. we bring you the closing numbers and the fugitive ceo a sneak peek at cnbc's new documentary about carlos ghosn's escape from japan. it airs tonight at 10:00 p.m. eastern. all this when "power lunch" returns. - at southern new hampshire university,

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update president trump and benjamin netanyahu met at the white house to discuss the middle east peace plan the two are expected to announce details tomorrow, however, palestinian fiofficials have sa they will reject any proposal. the pilot of the helicopter carrying kobe bryant and eight others was warned he was flying too low just moments before the chopper crashed according to air traffic control communications released earlier today investigators are also looking into poor weather as a likely cause. a volcano in iceland showing signs of a potential eruption leading officials to raise aviation warnings. ten years ago, an eruption in the same area forced the cancellation of 100,000 flights and the video sharing app byte has become one of the top free apps in the apple store since making its debut three days ago. seen as a tiktok competitor, it

allows users to post six second videos to social immediamedia. i will send it back to you >> six second videos, okay thank you. stocks are firmly in the red. just made millions off that dow down u about 350 points. fears of that coronavirus virus spreading. that is weighing on stocks and other assets like oil. the dow is on track for its fifth day in the red the longest losing streak we've had since august, which ought to remind you how good the markets have been. tech is one of the worst perform ing sectors on this day. check on the fang stocks fk, amazon, apple, netflix, google, they are down 1% or more a couple down by better than 2%. crude down another 2%. let's get to dominic chu what are you see somethiing? >> they're better than they were earlier in the day at the low, down nearly 4%

those fears over the spread of the coronavirus in china rattling markets all over. prices did fall to their lowest levels since october concerns about the china slowdown in the economy because of the disease could hamper the world's second biggest user of crude oil and importer those prices have fallen by 13% so far just this year. also keep a close eye on what's happening with copper prices they're down u about 3%. often seen as the barometer of economic activity not just in cline, but globally as well. so copper, oil, very much to the downside back to you. >> thanks very much. to julia for market flash. >> movie theatre chain stocks are suffering from coronavirus fears. amc entertainment shares are off more than 5.5% today at a 52-week low and down over 12% over the past week the $700 million market cap

company owned by china's wan da group is the largest theatre chain in the u.s. and europe shares of imax are down over 4.5% off nearly 15% over the past week imax has a subsidiary. it's shut u down its theatres in the country. guys, back to you. >> thank you for that. as stocks sell off around the world on raised fears of the coronavirus virus, some chinese stocks are getting especially hard csi china internet eff is down about so% over the last week bob pisani is in hollywood, florida join ed by brendan ahearn, the chief investment officer of crane shares. hi, bob. >> thank you very much, contessa look, con trens from the world, 2,000 independent investment advisers try iing to figure another what 20 to is going to fig yurt what the coronavirus is going to do in terms of the impact on the stock market brendan ahearn, one of the great

china experts out there, you control many china etfs. you just got back a few days ago from beijing and shanghai. tell them what you're telling everybody about what is the right way to look at this or what you believe is the right way to look at this. >> it's a very unu fortunate situation. we don't know how things play out but it's affecting the elderly with preexisting health conditions and i think in china where there's a higher level of smoke it's being particularly tedly but if we look back at what happened with sars, this is likely to be a very short blip and a great buying opportunity >> you had a very interesting chart you brought along with you. the shanghai stock exchange. this was november, december of 2003 the shanghai exchange dropped 13% from its high to its low we're down about 10% recently. the problem is we don't know if the tracking is going to be the same here. isn't that the issue now

even though there are some parallels. >> very true we doen't know how this plays out. certainly they're taking severe measures to try to contain travel in china. >> we're look iing at the shanga exchange you can see the decline there. what's interesting is the kba, the china etf, is down today county down the last few day, but china's not open hong kong is closed and yet by the great miracle of modern technology, you can trade them here do you find even when the main market is closed, these will trade somewhat accurately compared to if they were e open? >> kda is open for trade, but the underlying market is closed until next monday. it's been accurate that the market is predicting somewhere between a 6 and 7% decline for mainland china when it reopens next monday. of course things could change dramatically positive or negative >> there's a big concern this could impact china gdp by 1% is that feasible is that a possibility?

>> we look back at the effect of sars on the economy, it had a very short lived effect an that's why we believe you have a longer term respect if a great buying opportunity sars did not have a meaningful impact and we think it's likely this one will either >> what is the current state of the chinese consumer they've been buying fairly regularly. obviously the trade wars affected them a bit. is the chinese consumer buying more this year is it going to get worse or better in china? >> we think 2020 is a great year for the chinese consumer and economy. the government is still stimulating to try to off set the trade war. with that going away, we think we're in a troughing period an coming out of it >> we're seeing a lot of investment in china. other investment companies are changing the waitings for china. what's the implications for the international investor >> as the world has gravitated, 700 of the 1400 stocks are

chinese companies. we want to skate to where the puck is going and kda is that defer in addition of mainland china. >> thanks very much. appreciate it. the cio. we're here at the biggest etf conference in the world. >> looks like a nice place to be today. thank you, bob and thanks to brendan as well. well rates are falling ten-year yield hits its lowest level since october. rick >> the entire curve looks to close lowest yield since october. i'm showing this chart for a very important point it's sideways. we are holding even they don't show the two day chart, we've had a big drop down six basis points on twos. as you look at tens, we are as you see, look to close at the lowest yield since october

if we look at the spread, it's the flattest it's been in twos and parts of the curve are inverting. if we look at boons, pretty much same scenario. looks to be closed at three month or close to three month lows and finally, let's look at the guilt. of course the uk's going to be doing their brexit act on friday, but their market like all markets looks like yields have fallen off a cliff. tyler, back to you >> thank you very much coming up, much more on today's sell off as stocks try to make a comeback from the low of the day and up next, the incredible story of carlos ghosn's escape from japan. we'll hear why ghosn felt he had to flee. it's part of a new cnbc documentary that airs tonight. stay with us at leaf blowers.

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tonight, fugitive ceo examines his daring escape from japan and we hear from ghosn himself on why he felt he had to take the huge risk to leave. as ghosn's detention continues, prosecutors repeatedly interrogate him without his attorney present a common practice in japan a country that convicts more than 99% of those who are indicted >> part of the reason why they detain suspects for so long is in the hopes of breaking them down so they'll make a confession he did not do that >> my story is pringing the light on the system. you can ask hurricanes of thousands of people. everything is geared for a confession >> let's bring in phil lebeau now with more on ghosn hi, phil

>> he wanted to say his side of the story. why he believed he was railroad ed in japan and lays it out in a fairly convincing fashion. whether or not that means he'll never be try ied in japan or lebanon, if they agree look, he should face trial here, that remains to be seen, but from his perspective, he spent 13 months in jail. was never fully told what he was charged with and was going to sit there for another couple of years before his trial took place. >> and he maintains that part of the way the japanese legal system works is to detain people for long periods of time so as to break them down and get them to confess. >> absolutely and he talks about the conditions when he was first in jail. not the house arrest they would leave the lights on have him answer questions or try to ask him questions for hours on end without his attorney there. the kind of stuff that after a while if you're in jail, you

might sit there and say, oh, what the heck, i should just go ahead and confess to what they're saying here. he knew early on if he was to confess to something he didn't believe he committed, then that could set him up for a long time in jail and his feeling was i'm going to fight these charges then ultimately, the decision i'm better off just getting out of this country. >> quickly, what kind of security did you sense or see around him >> nothing major i think he is well protected within lebanon, but it's not like he had an entourage of people when we met for the interview. >> interesting thanks very much great interviews tonight fugitive ceo, the carlos ghosn story airs tonight at 10:00 p.m. eastern time on cnbc all 11 sectors of the s&p 500 are lower right now. but is there an opportunity here to make some green in all that red? we'll get some names you should nc watching, nt "we exonpor exonpor luh. man: can i find an investment firm that has a truly long-term view? it begins by being privately owned.

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welcome back to "power lunch. investors getting a bit of a gut check as stocks have the worth case since october the dow haus fallen by more than 400 points folks with strong stomachs are

looking for buying opportunities here, though let's bring in steve grasso, and cnbc "fast money" trader what are you watching, steve in. >> why don't we start off macco, and then we can drill down this is what everyone is worried about, this event that happened here in our past will that event happen again if you think about this, from recent peak to the 200-day, that would be a textbook 10% decline in the overall market. just because the bulls want an a new entry level, that's a 3k in the s&p index, something to watch. i don't think we get there, you but you know what? you never know when he seas are red like this. >> the dow is down more than 400 points again it looks like we have some big names as laggards here

apple is off by almost 3%, are you seeing any buying opportunities? >> yes, i am still long apple. most people that are long apple are along for the long haul. they have substantial amount of profits. what's good about this pullback, this blip that we've seen here, it understanding wound a bit of the overbought status, so for me, i'm sort of six/half dozen on this. can you imagine that apple can report and keep all of that basically this, which we saw on the other chart, keep that intact i think it's ripe for a bit of a pullback, but i think it's a buying opportunity if you think you get anything worthwhile on the decline, with the services revenue but through the roof through the next 2 to 4 years.

>> are you worried at all about -- >> you think they are short-term speed bumps. what better to have people clamorsing for your products and you have a supply issue, and you have that boom once you come out of it. this virus is terrible, but i believe we'll get past it in short ar the snapchat, you own it, do you thinks -- >> this one has been off to the races, if you look at where we are now, this is just a minor setback. the price targets all over the industry are in the 20s, i think they can make it to mid to upper 20th, most of the street says low to mid 20s i think you're safe buying snap on the decline first of all, this was a laggard

a year ago you have to make sure you have to exposure. this one has zero exposure to that it's underperformed. this one along with snap, has a bunch of street targets that are probably 15, 20, 30% higher. i'm staying in this stock as well steve grasso, thank for you joining us >> thank you. much more on the markets coming up. don't forget you can always watch or listen us vetoli on the go, on the cnbc app. we'll be right back. hey, saved you a seat.

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welcome gab to "check please." the dow once again down more than 400 points. that is about in percentage terms half of what most of the naj european markets did today let's look at the ten-year bond. if you want to know where economic fear and hopefulness comes in, it's following that ten-year note. as you can see over the past week, the note yield has come down from close to 1.8% all the way down to 1.6%

that the economy could globally slow. >> we god a neat from moody that points out the impact the lowering yields/will have on banks and metlife is off 2% as they insurers try to find a hedge. "closing bell" will continue the coverage right now >> good afternoon. inch sara eisen. it's so good to be back. we're off this market sell-off we have not seen a 1% klee lower since i went on maternity leave, last october best -- it is on the dow, boeing again continuing a recent run. did you see tesla, though? >> past $100