>> absolutely. >> so sensitive to every headline and just waiting for what's coming out overnight. >> even if equities weren't as bad, oil still very soft and energy still clearly the worst performing sector. >> one thing folks are looking at china itself, the news, their stock market -- >> nih told us we can't do what they do. >> we are out of time. thanks for watching "closing bell ". >> "fast money" right now. from the nasdaq, as always, this is "fast money. i'm brian sullivan welcome, everybody gina sanchez, ceo, good to see you. tonight investors on edge. the coronavirus spreads. stocks tumbling for the fifth straight day we're going to break down what you should be doing with your money in the days, weeks, months, maybe years ahead. plus, important new comments about the virus from two major travel companies, what they said ahead. both stocks are lower.

you are looking at a live shot from the white house we show that to you because in about 90 minutes, expected around 6:30 eastern time, the president will hold a news conference on the outbreak we will bring it to you live as soon as it begins. of course we have a special markets in turmoil coronavirus outbreak all joined in one hosted by the great tyler mathison in the meantime, we're going to get to the macro market, but we want to begin with breaking news on one of the biggest companies in the world, microsoft, warning its windows unit will miss guidance for the quarter because of, what else, concerns about the virus. this is the latest company to cut guidance due to the outbreak microsoft shares down 1.3% in the after market i would imagine that we had a few united and others, we will probably have a couple hundred more of these is my guess. >> mastercard was a huge one as well listen, microsoft on january 29th gave guidance, and this was one of the things. first of all computing is probably 25% to 28% of their

overall revenue. there you go and with that said, they're not going to be able to give guidance, which is fine in this environment. ask yourself this, though, where should the stock trade down to and we've said this for a while. we've said it since february 11th or so when they reported -- around when they reported stocks traded up to 190.50. 160 is your level. people now look at microsoft on valuations and say, wait a second, maybe 28, 29 times next year's earnings. >> and so more personal computing as guy said, 30% of their operating profit and so for a stock that also with the beneficiary of passive flows, the other thing we talk about with apple and microsoft, they make up more than 23% of the nasdaq 100 so if you're looking for just the market effect, also of what microsoft does, it changes sentiment but it also changes the technicals a little bit when you actually see and a lists if they have to down grade. you start to see investors flow out.

as we talked about, there's very little reason for a member to be seeing anything but caution right now. and that's really the case we all sat around here and said microsoft is doing everything right and the multiple is expanding. this was the catalyst we didn't expect >> i think microsoft, if you look at what this highlights, you have the follow the whole chain down hp will not update as quickly, et cetera, et cetera this starts in china and this continues to trickle all the way down you have to remember everything that's downstream from what's happening. >> the butterfly effect. you have to watch when a big company says something, watch the companies in that halo, karen. >> kudos to you for calling out that day, that reversal that day. one thing to note about the release today, they did say that we are seeing strong demand.

getting production back up and running came more slowly than they thought it's really a supply problem rather than a demand problem i would much rather see a supply problem because i believe they'll get the supplies late. >> i get it. and in no way are we making light of the last three days we do have to take a step back, take a deep breath and, remember, microsoft even with the after hours drop, still up 50%. >> karen's point is right. they've been building out the azur product it is massive and i think you will see demand on that.e produ. it is massive and i think you will see demand on that. >> you led with microsoft is the third or fourth of maybe potentially 100 companies. i can't speak to 100 but at least a few dozen more and, again, justifiably so.

the weekend apple said, hey, guess what, things aren't going to be -- we're having a problem here, the market sold off on that monday. apple down $4 or $5, which is meaningless in terms of where it is and the next day was making all-time highs the point being the market didn't care about anything and now magically the market is starting to care >> i'll go this far if you're a cfo, ceo, wouldn't it be smarter to come out and cut guidance it's foolish not to give yourself a path because we don't know what will happen tomorrow, next week or next month. >> it's all relative to both your guidance but relative to your peer group. and if that's what's going on within your peer group and there are these dynamics within the sector, why not?

i'm not sure you're going to be encouraging folks to do that back to microsoft, i think the most important thing is how this embodied not only fun flows but sentiment for a market and when you consider it's on a 50-day moving average, this is a stock that has been on a one-way trip. it's still up 7% year to date. you still have analysts that probably were caught on the wrong side of upgrading into those highs. these are things that don't change overnight i think microsoft is the same great company it was two weeks ago. no one was paying attention to the valuations then. if you look at the technicals i don't think today is the day >> i know it's fallen on monday and tuesday but any solis it's only down a percent? >> i think there should be

i don't know any company that says we have no effect whatsoever from coronavirus. something like zoom and clorox will probably be the beneficiary. the market is sort of looking through that and i do think you're going to get a free pass if it makes sense, the magnitude of your miss and what your business is, how you were affected by coronavirus. >> let's turn now to the wild ride that was wall street on a wednesday. we started hopeful the worst might be over. the dow was up 460 at one point. and then, what else, more coronavirus headlines out of germany, brazil, and a fear on long island. a quick plunge for stocks down nearly 200 a swing of more than 650 points today. 22 dow stocks fell led by nearly 4% drop in disney. a sudden ceo change last night exxon and chevron, dow components, slammed as oil closed under $49 a barrel.

guy adami, we thought, i guess, some thought this morning when the markets opened we had a bit of a rally, maybe this would be the day we turned it around. what does that intraday reversal tell you, if anything? >> we talked yesterday about the potential for today being the bounceback day for a few hours this morning it looked exactly like that i can make an argument and we could have a debate today might be the worst day out of the last three given the huge reversal on the back of a 1,900-point move in the dow i think that's speaking volumes. the one thing that was interesting most of the day, the vix never gave it back and was hanging in there which should have been a telltale sign. gold had a bid i think today, again, it's not a great day if you're bullish. six months ago this day would have closed on a high and we would build on it again tomorrow >> you have to think about where we've come from, though. first of all, we've had excessive moves by any measure

if you look at the market, this looks a lot like the move into brexit back in 2016. you've had north of it 2.50%, a standard deviation move. if you think just where the market really has been reacting over the last couple days, i think that's where we are. i don't think the market has to go down in a straight line, but to look at relative strength indicators and things that give you the sense of the momentum of what has happened we're, again, back to a level in august and before that takes you back to the first quarter of 2018. >> we talked about it the other night and the special with dan and josh brown, that failed rallies might be worse, to your point, than just falling gina what do we want to see? do we want to see another 1,000-point down day do we want to see a day where it's 15-1 decliners to advancers? what do we need to know to know that the flush has occurred? >> well, look, right now the market is going to continue to be sporadic because we still don't know what we're dealing with

honestly it's not about looking for how many people get fleshed out of the market as much as we need to see signs this is a line in the sand and we don't yet have a line in the sand. i don't know how you can say 1,000 plus will draw a line in the sand we still don't know. >> scott minerd called in to "closing bell. he thought markets could fall another 15% to 20% stocks if we see more headlines is that extreme or do you agree? >> that sounds extreme to me actually i mean, of course if we have a terrible outbreak here and hundreds of thousands of cases, which i don't -- i'm not saying that, i do think a 1,000 point flush would bring people into the markets. i think this would bottom before the end of the coronavirus pandemic >> right i think where minerd is coming from, the idea we kick off the

valuations there are really strong -- >> there are really expensive -- >> if you pull some of those off the table and get us back to more reasonable valuations you could have a big drop before you're there >> let's bring another voice into the conversation and talk about the impact on your money and investments. joining us is black stone's chief investment strategist and has been on the mark about this probably, unfortunately, with all due respect, on that is now the time for our viewers to buy stock >> no, i think we'll see more downside volatility, unfortunately. i think what's happening here is investors are struggling with risk versus uncertainty, and they're two very different animals. if you think about the idea of pricing and risk, when you have risk, you have some known outcomes and can assign probabilities to those outcomes and start discounting them the coronavirus was known to the market as early as, like, late december and yet markets perform pretty well because they viewed it as a risk they could estimate

probabilities of china gdp, of supply chains, et cetera, but that all changed last week when the coronavirus spread to 28 or 29 different countries now investors are dealing with how do we price in uncertainty we don't know what the range of outcomes are at this point so we can't even begin to discount them >> in no way am i trying to say toot the horn or whatever, but three weeks i went on "the exchange" and did some math, these are the early days, oil demand could fall 2 million barrels a day. i got nasty grams. you're a fearmongerer, et cetera that seems to be the base case i'm not saying that i knew more than anybody else, just aggregating information. my point is what we thought and what we know then and now is very different couldn't that be the same thing now versus three weeks from now? >> yeah, i think it is a fair point and, again, at this point i would hesitate to endorse any estimates on the impact this might have on gdp growth or on companies. my own view is that we're going

to face a series of mini rolling recessions especially among those countries most trade exposed, the countries -- your singapores, hong kong, japan and even in europe or germany. their net trade of gdp about 90%. growth was already weak. i think we'll see many rolling recessions they are transitory. global health emergencies, the history on these is clear, that they are transitory. it might take several more quarters from here but it will go past. from a company perspective, i think earnings estimates are still going to have to come down pretty substantially the market -- the street started the year looking for 10% eps growth the year 2020 now we might be down to about 7% eps growth on the year i think that will have to come way down and two to three quarters we're not going to be able to handicap this. i do think there will be a period we are going to want to go and deploy capital. i just think we're going to see more volatility until then >> you were talking about a move

to the down side in the fall a lot of usstarting to come to fruition the coronavirus are using that as an excuse a lot of the reasons we're lower are far more, i think, far reaching than just this. so is this just the final straw and the fundamentals were sort of in place for this move all along? >> i think that's a really good point. in september the fed reversed position with respect to its balance sheet and started expanding in ways we hadn't seen in a long time with that you had a massive move up of risk asset in equities among disruptors up 50% from mid-september until last week. you saw it across the range of fixed income where a lot of countries started moving back, and what you had was this feedback loop that i had never seen before in my career where good news was good for the markets, i.e. trade resolution, a phase one trade deal, news of brex brexit bad news was better, the u.s. taking out general soleimani and

the spike in prices. the coronavirus drove markets higher up until last friday in 35 trading days 18 new highs. the good news was good, the bad news was better. herbert stein is famous for saying that which cannot go on forever won't. i think that's an example of what we're seeing. i don't know if the coronavirus will be enough to break the feedback loop because we're going to see central banks flooding the markets with liquidity. the fed will have to cut twice, maybe three times. we could be back in the feedback loop but it's the story of liquidity. that's been the main driver since the fall >> one of the points you made was this idea once it flushes itself out, we should see a recovery from this and if you look at studies of global pandemics, and we don't have that many to study, but st. louis did a study of the spanish flu and said after about six months of pain you saw this boost in productivity across the

economy and the economic impacts are actually quite positive 12 months and 18 months out the problem we have these massive valuations to guy's point i think a lot of the underlying fragility of the economy is really starting to flush itself out how do you play that knowing the economy might suffer for six months and then get better, but we are at such valuations? >> you raise a great point and the idea and the way i've thought about this, the trend in a global health emergency are the trends coming out of it. our sympathy with everybody impacted here. from an economic perspective the trends going in will be trends coming out the big question, what are the trends we're looking at six months or a year or two from now? we're looking at a global economy suffering from diminishing returns of debt. the last decade produced record high debt, record low interest rates and ever increasing multiples. i don't know that we repeat

that i think it will be a lower return environment it will require higher conviction investing >> joe zidle, blackstone, thank you very much. >> following up on that, when this is over -- we don't know when that is, but let's hope sooner than later -- do stocks just resume their upward momentum they were on for three years, four years before this? >> so we have to balance the two portions we talked about which is that you had an immature and fragile recovery that was something we were questioning recession, six to nine months ago. if i think about the market right now, yes we want certainty. joe talked about the lack thereof and something the markets can't handicap i do think we're still going to have the fed throwing everything they can there will be talk with fiscal and will get fiscal around the world and you'regoing to get t a place where valuations do matter and in a zero rate environment are going to be more compelling faster than they

might have been otherwise. back to the market, you want to look at where we have taken out the last run, it takes you back to the 200 day 3035 on the s&p or if you want to get back to what was the highs of january 28 or where we got to in the fall before we took off on that run around 2900 on the s&p and then i think you have people able to make changes on valuation and where the market has taken off that last round. >> i just think spot on the fed. they were maybe out of the game when the market was doing better it's only, what, 12 days ago maybe, and even with economic numbers being okay, they were out of the market. they're not anymore. >> without -- and, by one quick comment on this. i know we have to get to meg we had the democratic debate last night we're not going to get political. but when people are throwing around numbers you have to dive in is there any part of this which is related to the fact there are

people on stage that are very possibly going to be the next president or at least in the running that are suggesting we do away with certain industries and throw oil executives in jail >> we've mentioned bernie sanders by name so we can say it we should send fossil fuel companies to jail. when he was doing very well, people took that as a positive because they're like donald trump is going to annihilate him in the general election. now i think people are saying, you know what, maybe that's not a complete certainty maybe there is some of the bernie sanders factor. >> all right, guys we do have the "market flash" on gilead gilead says it's starting two late-stage experimental trial for covid-19 they expect data by april and a new trial run by the u.s. government they will run the trials in 1,000 patients mainly in asia

and other countries. this will give them information how well this drug words this is the one drug the w.h.o. said had the most promise for treating this disease up 3.6% for gilead after hours. >> meg, thank you very much. big news for gilead. maybe big news for people all over the world suffering from the coronavirus or are afraid of it a lot more on the coronavirus and the impact on your money and the markets catch our cnbc special report "markets in turmoil" a special two-hour edition hosted by tyler mathisen, jim cramer, the entire gang it's one you cannot fo tafrdo miss especially with the markets the last couple of days. we're going to be back right after this with some homemade biscuits! >>oh, that's so nice! and a little tip, geico could help you save on homeowners insurance. >>hmm! >>cookies! uhh, biscuits. >>mmmm, is there a little nutmeg in there? oh it's my mum's secret recipe. >>you can tell me.

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bookings holding and marriott reporting numbers after the bell stocks going in different directions let's find out what they said. seema? >> booking guidance was worst than expected, revenue falling 3% to 7% in the first quarter, much of that due to an increase in cancellations in asia, pressure to its average daily rates. and with the coronavirus reaching italy the company is accounting for the possibility

that travel will be disrupted in europe booking holding ceo glenn fogle telling me why this is certainly having an impact the extent is hard to predict, the difference between what we saw six weeks ago, three weeks ago, and even the last few days with new outbreaks outside of asia illustrates the uncertainty. on the call he says he's optimistic about the recovery saying this is not the first time it's faced an event like this, that travel is ultimately fundamental to people's lives. however, it has raised a lot of questions about how far this virus will extend, and that is, of course, shares of online travel operators booking holding down nearly 19% so far this year expedia down as well let's pivot to marriott, delivering a mixed set of earnings and it cannot detail the financial impact of a virus. the call doesn't start until tomorrow morning the cfo telling me occupancies are currently quite depressed in

greater china. we have yet to see a significant impact in other markets around the world yet, but the situation remains fluid. worth noting marriott has 800 properties with roughly half in greater china. also says in the first quarter, brian, the u.s. is off to a solid start. it's worth noting that travelers from greater china accounted for under half a percent of marriott's room nights in north america last year. when you look at a company like marriott with its size and scale, the world's largest hotel chain, it still makes over half of its revenue here in the u.s now the question is, does the u.s. market remain strong? you're seeing the stock basically flat, slightly higher in extended trade. it is underperforming if you look at a year to date chart back to you. >> on booking, if you think about it, as a company we had expedia, we digested the other news, mastercard, cross border travel, talked about travel. as they warned american airlines out there.

i know this sounds a lyle overly rosy but i'm somewhat encouraged that's where it is now it can get a loss worse but those are numbers i think people thought was down 3% to 4%. they say somewhere in the middle range between minus 3.5% and 7%. 1650 on booking is a level where this thing is held under different circumstances. again, low to mid teens, growth in the year ahead. let's see where we are these will be opportunities in stocks and i'm looking at that now. >> they're going to be in terms of marriott, a couple weeks ago we were making an all-time high in the stock at 150. a huge double top going back to, i think, 2018. where can it trade from here i think december 2018 lows which is around 102.

they really shouldn't be why would you subject yourself to this stock in this environment? i think there's further room to the down side. >> for more on today's travel earnings and guidance, you can go over to cnbc.com. coming up on "fast" -- >> stocks have been bruised and battered over the past week. maybe not everyone got punished fairly we go bottom fishing to find the names ready to pop and later, what will be the bigger disruption for the markets? the coronavirus or the election? e sw m spre u. we'll tell you what the options market says all coming up when "fast money" returns

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if you missed today's trading, you missed a lot. optimism at the open sent the dow up 400 at one point. then we lost 650 points finally ending the day on the dow at 123 points the nasdaq did eke out a small gain the dow down 7% in three days. but we've been told you're supposed to buy low, correct let's figure out if there's any value in the beaten up stocks and start with retail macy's, underarmour, kohl's. karen, any of those names attractive to you right now? >> if you go home long it's the same as if you bought it right at the close i am a buyer unfortunately for them they have hong kong exposure, asia exposure the other thing, which is really

unfortunate to them, to improve their supply chains last year they moved a lot of their manufacturing to italy which is probably not ideal at the moment i think you will matly that will pass i think they have a big buyback. i wouldn't be surprised if they were out there buying stocks trade is terrible. it's been a painful one. >> if you think about all those names and i'll leave it to karen who does a lot of work on capri, macy's, underarmour, not necessarily kohl's, some are broken companies this is not the environment i think you go digging and dumpster diving. you were looking for places where people were looking for underperformers. kohl's has an environment where they've been extremely volatile, competing on food prices with walmart. of all the places where you've seen a sell-off related, this gets back to true fundamentals

with some of those names they are not fundamental. >> remember there was so much optimism when they announced the amazon partnership that faded away. speaking of the crap heap let's talk oil and energy. crude crumbling again. we are now below -- we're below $48 a barrel including the after hours move off another 3%. with that move shares of every major oil and gas stock went down with it look at that chart f. you're driving, on the radio, imagine a chart that looks like an icicle on the far right side. exxon mobil is at its lowest level since 2005 below levels of the financial crisis of course oil was higher then. other names like chevron, diamondback also in a bear market gina, you're from the capital of oil drilling, los angeles, any value in any of these names? >> you really gave me the dog today because this is the dog of

the entire market. the fundamentals for this sector are not great. throw in a touch of coronavirus and you are talking about china falling and they are the single largest importer of oil and third energy, consumer of energy, around the world that's bad you have to think about whether or not you even want to own the sector we don't love the sector >> that chart was the xle, not the price of oil josh brown made the point in the previous hour, tim, exxon mobil's yield is almost 7%, the highest since all the way back to the first "star wars," the real one for the dividend only. >> i'll speak for myself, i don't chase stocks for dividend yields

they are taken to absurd yields, i.e. macy's. i think that dividend yield is very much intact unless, of course, the stock rallies. no question they will pay that dividend the other thing, before we were talking about coronavirus, we were talking about esg and bernie will throw these guys in jail from a flow perspective, this has been a major headwind. i would feel comfortable owning at these levels. >> interests exxon mobil i get the 7% dividend, dividends are increasing for the wrong reason. you can give up 7% on the day. i'm with tim on that one and you haven't seen the hit and the three letters we didn't mention is a huge existential risk and we talked about that if you're looking for a trade, and we talked about this in the fall, $30 was a huge double bottom we said it would rally from there. rallied 30% in a couple weeks.

how do you trade that stock? close at 28.40 today. >> budgets are coming down the oil ceos, we're going to talk to a bunch of them in a week and a half. exxon mobil, call in let's talk about technology. tech stocks more than 20%, guy, off their highs. a big name, cisco systems. twitter is down. are you, guy adami, buying any of these stocks? >> you have an eagle eye >> i had that lasix thing years and years ago. it works >> keep going. twitter.

xiling started moving long before the coronavirus thing maybe it gets interesting. twitter sticks out i understand it's been a volatile stock here at $35 out of the names you mentioned. >> and lastly, some auto and auto related names, ford, gm, advanced autoparts, and harley-davidson again. we're saying the stocks are down 20%. of course they are any of those names look attractive to you? >> autos coming into all of this ex ternality, they're in a difficult place. there's certainly gm is long down near 31 at the bottom of a five-year range. it's a company with a great balance sheet. if we're anywhere near getting a slower economy moving into a credit that might be the next move for a lot of companies.

gm is not. moody's was out today saying auto production globally down 2.5% everything we've heard from people like bw talking about supply chain and tech, supply chain and auto, this is a big deal this is an opportunity, maybe not tomorrow i do like gm >> i'm going to back you up on that i have the same view and partially this is a good value for gm but, also, if you look at the supply chain issues, you have manufacturing facilities idling and people waiting for things like car doors and other parts. >> the one name up there is harley-davidson that faces an existential crisis >> hog has been a dog. quicktrivia, looking at california auto dealers data from last year the other night, because i have no life, what was

the third most registered car, what model -- what company and model in california? you know what it was tesla model 3. overall registered car in california behind the accord and camry. coming up, the one sector that is a bright spot for the markets and maybe the entire american economy a reminder the president set to hold a news conference on the coronavirus outbreak in just under an hour now expected at 6:30 p.m. eastern time we have full coverage in a special report, tyler mathisen, jim cramer and all of our star reporters. "markets in turmoil. you cannot afford to miss that vo: while other candidates argue

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welcome back to "fast money. home, of course, is where the heart is recently it's also where the money is new home sales surging to their highest levels in nearly 13 years. home builders are falling in recent days along with every single stock except for clorox and a couple of others, the group is still up 16%. gina, housing, a big opportunity or overdone?

>> there's a couple things happening in the housing market. if you look at inventories, they are really tight you're having a hard time finding great houses you have interest rates lau and we're talking about three fed cuts that will continue to support housing and where you see the tightness is in labor mortgages. that's really the bottleneck in the housing market so if you are selling houses, this is great f. you're building houses, however, not so great >> karen, i hear what she is saying about the fed, the bond market has done the work >> mortgage rates? >> i don't know if they can go any lower. >> rates are here, employment has never been higher and even a little added benefit of gas

prices being low, that really creates a nice floor for the housing market i like the space i like home depot. they could see shortages of supplies >> lumber liquidators. >> to me i would go back to lowe's who just reported and they missed same store sales and looks like there's execution risk if you've made money in each direction, you made it for two years in home depot. i agree i think home depot which guided last quarter very conservatively going into this year i think those numbers are overly conservative zero interest rates are the gift that keeps on giving and they go straight to home depot and there's very little competition out there. bless you. you heard the sneeze we do say bless you on this show

>> there used to be a saying as a little boy if you can't spell it, don't say it, which limited your vocabulary. >> look at the move off earnings that just goes to show you valuations sometimes don't matter however, $35 was a huge level of support close to $37 today if you're looking for a trade. >> a chart only a mother could love all right, coming up, are the wild market swings giving you indigestion? a heck of a couple of days we'll show you a live shot of the white house as we go on break. we are awaiting the president's news conference expected in about 45 minutes to talk about the coronavirus and it could be wide ranging as well of course that will appear live on our special "markets in turmoil" live with teryl

mathisen, jim cramer, and many more you cannot afford to miss that

b11 is that? steve harvey? give me b11 isn't bingo just an ok use of your hosting abilities? it's like getting a samsung galaxy s20 5g, and not getting it with at&t. bingo! no, i only called out two letters. now, you might have go, you could have bi, but you can't have bingo. get the most from your revolutionary samsung galaxy s20 5g. switch now and get one free from at&t. building 5g on america's best network. welcome back to "fast money. the so-called fear index, the

vix, with the market wild swings, we're going to talk more about volatility, michael khouw. >> people are usually thinking about spot vix, the vix index. there's a series of futures that go out in time we can take a look at that to get a sense not just of what the market is thinking will happen in the next 30 days but what's coming up in future months here we can see what the vix futures were looking like on january 24th now here we are a month later things have worsened considerably and on the short end the implied volatility has risen considerably the vix futures are much higher. actually further out in time we're not seeing that. actually what some people are doing is taking advantage of the fact this longer dated vix futures is going up just a little bit we take a look at the april futures, we can see basically the kind of magnitude that we're

talking about. yes, it's higher but it isn't as high as the march future or the vix index itself so one of the trades we saw today that somebody was taking advantage of the fact this has only gone up slightly, they were buying the april 20/22 call spread you notice, of course, 20 is much lower than the spot vix right now. they're making a bet that the april vix future could rise. there is another take system away we could look at and that is that right now the vix futures are saying that, yes, we have a lot of volatility right now but it may subside as we get to know more and some of the news we saw today coming out of china that their new cases were lower than elsewhere in the world is an indication that the future isn't quite as bad as we've been dealing with lately >> mike khouw, thank you very much we'll see more on "options action" friday night at 5:30 p.m. eastern time. full team coverage as we await president trump's news

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here including the top health authority to say that one of the -- he didn't say mistakes but one of the ways in which they would have done something differently is not to actually treat the coronavirus as sars or the flu which is what he said the chinese did and so by that he was saying one of the lessons they learned in china is not to underestimate the science or the nature of. >> thank you, good to see you as well let's head to wall street and d.c. obviously coronavirus, whatever, anything else that we can expect from the president tonight

>> reporter: no goodance ancgu the president might say. one thing the president has denied today is a report they're considering a coronavirus czar they say that's not happening. later in the afternoon we did see the u.s. chamber of commerce call for the appointment of a czar saying the business community needs some central point of accountability and someone in charge to really drive this effort throughout the whole of government. interesting dichotomy between what the white house wants and the chamber of commerce says is good for the business community. they are saying here at the white house that they expected that $2.5 billion they requested for coronavirus response is going to go up ultimately more will be spent on all of that, and we're learning, brian, a little bit more information about the president's anger at the cdc yesterday. after that briefing we saw yesterday that sort of tanked the markets late in the afternoon, i'm told the president was angry at the briefing and his focus was

really on the cdc who said it wasn't a matter of not if but when the coronavirus would hit the united states. the president very us frfrustrad about that >> what do we need to hear about the market >> the president needs to be presidential this is a time for leadership, a proactive and thorough approach to this. expressing we will take whatever measures we need to to ensure that we can. the issue is it's hard to mo what those measures are at this point. i do expect a lot of confidence. >> thank you very much again, full team coverage of the president's comments part of our special report tonight, "markets in turmoil" hosted by tyler mathisen, jim cramer, we'll be standing by to break down every angle of this major global story. when you invest your cash. you can get a

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>> you're short. >> short i'm not a buyer. i am a seller. >> pay attention, guy. >> you mentioned eagle eyes before, nice job by you. twitter will get you done. long twitter >> that's what i just said! tyl starts right now see you tomorrow good evening, everyone welcome. i'm tyler mathisen "mad money" will not be seen but jim cramer will be with us for the entirety of this cnbc special report, "markets in turmoil," with two major interviews and get to those and jim in a moment. today is day59 of this global health care crisis and tonight we hear from president trump as fear rises amid doubts the u.s. is adequately prepared for coronavirus. >> worst two-day slide for stocks in over four years. >> fear. >> coronavirus fears shake up wall street. >> stocks react to