final hour or so of trade today. it was down 5%, it ended up 5% is that a sign of some improving risk sent imt, but we don't want to move too early with that. we are pretty much out of time here, thanks for tuning in from tyler, mike, sarah, myself, have a great evening and brian sullivan picks things up right now. no deal. stocks fall again. the dow dropping 582 points. another 3% loss. the selloff coming despite more unprecedented action from the fed. the central bank throwing every single policy action it can at the dire economic situation, offering up far larger programs than anybody had ever thought possible

i'm brian sullivan, if you are keeping track at home, we're pretty sure you're at home here's a sobering stat on the selloff. the dow has fallen nearly 11,000 pointing since an all time high in mid february. that's a nearly 40% drop the fastest in history investors continue to see their portfolios fall, while washington falls short stimulus still on hold we're expecting a briefing on the coronavirus outbreak in about 30 minutes time. we're going to bring it to you live when it begins. kayla has been tracking the stimulus situation all day long and is with us now on what happened what happened, what didn't happen. and what comes next. >> for a second time in two days, the vote to advance the stimulus package coming out of the republican side failed meeting are taking place in the

wake of that with steve mnuchin meeting with chuck schumer, followed by a meeting with mitch mcconnell. those two back to back meetings, an update on where things stand. a senior administration official tells me it's unlikely that one meeting would yield a deal in itself, these talks continue with both sides optimistic that a deal of some sort of deal can be reached nancy pelosi suggested she would be willing to bring whatever compromise bill emerges in the senate to a vote in the house as well even as aids are circulating talking points for their own response to this floating a 2 $1/2 trillion bill. they want payments of $1500 per american, up to $7500 for a family of five increases in unemployment insurance. more than 200 billion for hospitals and triple the amount

of spending for education than is allotted in the current bill. there are conditions for unions and environmental provisions as well trying to put a marker down on where they are over at the white house as we await the coronavirus task force briefing, the focus has been on what happens a week from today, when the president wants to reopen the economy and wants to limit the economic fallout where possible if the health care crisis is under control. and the economy is able to reopen even in places like new york leaders are wondering how long the economy can sustain this >> i take responsibility for shutting off the economy in terms of essential workers but we also have to start the plan, the pivot back to economic

functionality. you can't stop the economy forever. >> as new york governor andrew cuomo said, this is an important oxygen valve to the economy that is currently shut off, i imagine we'll get a question to the president in just a few moments about what exactly histhoughts are on when the economy should reopen and whether the u.s. health care system can with stand that >> i know there's a lot of frustration with d.c., for a lot of our viewers who may not be remembering. 2008, i think there is it a little bit of guidance there the initial tarp vote failed the senate, the markets continued to fall, it got them talking again, and ultimately a deal was indeed signed, this is not done yet i would imagine the folks you talk to say, if things keep getting worse from a financial markets perspective, it will force them to get something done

sooner than later. >> those of us who are covering this in 2008 remember the time period those discussions were going on is con dernsed compared to right now, the sellingin th market have been protracted at this point the market dropped today is relatively small compared to the volatility we've seen in the recent weeks was it sharp enough to get lawmakers into submission to get the urgency to pass something. back in 2008 the market fell 7% on the day that tarp vote failed that was one of the biggest drops of that time, and that was really what it took, today's drop as i noted is much smaller than what we saw last week. >> good stuff there kayla, thank you very much. >> stocks certainly tumbled on the news that the senate failed to advance the stimulus package.

we got word less than 30 minutes ago that london will be on a form of lockdown the reason i referenced london that is the capitol of the foreign exchange markets we don't talk a lot about fx, but it is the largest most liquid market in the world everything is placed in dollars or euros if there's some disruption because of the lockdown. would you expect more market volatility everywhere, plarly here >> the short answer is yes, what i'll tell you is, you know this, we've had currency volatility now for the better part of 18 months if a currency moved 1% in three weeks in the '80s, it was a huge move now we see percentage moves in a couple hours although this is not going to help, it's been here and it's going to stick around.

so i hear what you're saying, and it's somewhat disconcerting, but it probably needed to be done in terms of what's going on over there and the markets will figure it out. >> it needed to be done from a human health perspective as well it's one more thing to factor in here, guy, and i brought up that tarp analogy in 2008 would you expect the markets will be volatile to the down side until congress can get something done >> yeah, on friday you asked me -- i'm paraphrasing, you asked if i had any confidence in our political leaders, i said no, unequivocally no i had confidence in our fellow does it zens and neighbors to the extent i had confidence they would get anything done, the answer is no something will get done. they'll push it to the limit in my world that limit probably takes us down once again to that 2030 level in the s&p 500 not

that technicals matter, but just quickly, because you are trying to find silver linings, and i think mike danced around this earlier, you did not have indiscriminate selling today everything wasn't down i know tim seymour tweeted about this earlier, and he's going to come on. you had nvidia up 3% you had some movement in these tech names and chip names. interestingly enough, and i have no idea what it means. but maybe china is that 67 further ahead on the curve get winn resorts up 11%. around the edges and this is going to sound ridiculous at least you're seeing some semblance of normalcy coming back in terms of people not just selling everything and hitting buttons. >> does it feel like this forced

selling that obviously existed hedge funds that have gone away or close to it people in a desperate rush for cash does it feel like some of that has slowed down? >> yes the short answer is yes, when you have a market that's gone down what is it now, 34% in record -- a short amount of time i believe a lot of that's been done a little more left to do, the lion's share has been done we can take some solace in that and now i think the market will find its footing in terms of winners and losers if you look at the industrials clearly the banks are not winners, but around the edges you're seeing signs that people are saying, these stocks have been taken out to the wood shed too much and maybe there's some value here i'll take something out of that. >> you referenced china, okay, eunice eun who has been doing

pulitzer type work i don't know if you're watching. we love you and glad you're safe she just tweeted out that yum brands are back to being open albeit they're still social distancing two months ago that wuhan got locked down, the chinese market began to recover about a month ago roughly or so? if we look at the curve of china, traffic data, all there stuff, it appears that to your point, if we go another couple weeks and follow that curve, that's when we might be able to say there's the trough is china sort of the crystal ball here? >> yeah, well, let's -- i think we have to hope that's the case. they clearly seem to be coming out the other end albeit slowly. show some mention a zoo was open as well. that's anecdotal, that's somewhat encouraging

i think we can take some hope in that there will be a light at the end of the tunnel. again, i think what's going on what happened in china was far more draconian that some of the things put in place than what's going on here. we can tell people to stay at home and not leave unless people adhere do it, it's not doing any of us any good i think people need to take it extraordinarily serious, if we can, we'll all get through it together >> i like the optimism there at the end. guy, you be well as well, my friend >> today's market drop comes from even despite -- more unprecedented action from the federal reserve. policy makers unleashing the largest policy action program history in the history of the modern world this is going to be larger than 008, the plan is to buy a stunning 125 billion of various securities every day this week here's what the fed has said it will buy or help back stop the

banks on are you ready? corporate debt asset backed securities. corporate, commercial, mortgage backed securities. that's in addition to a $300 billion lending program backed by the treasury, it includes a separate loan facility not yet formally announced targeted at main street, which is going to be hit hardest by the sudden down turn. let's talk more about this with paul mcculley. listen, this is very different than in '08. in '08 we kind of understood what we were dealing with. some of the programs were untested the fed has opened the barn door and said, everything we can do we're going to do. but we still can't get people to go to stores because they're on lockdown what's going to be the impact of this >> i think we learned a lot in the financial crisis of 2008 i think the fed learned a lot.

when you get hit with something of this nature, it's not a vice, but a virtue they're being incredibly bold, and saying, we have the helicopters, all ready to go, and wherever they can get them, they are going to get them which predominantly right now is liquefying markets, and doing it with overwhelming force. the important thing is, they can't get the helicopter to land on main street until congress acts to authorize essentially the main street funding facility that's the beauty of what's going on right now i actually have a fair amount of optimism in that secretary mnuchin and jay powell are working closely. they're ready to go with essentially a levered up main street lending facility, funded by helicopter money.

and just waits for congress to say, okay, i think we're going all in with both monetary and fiscal policy, which will stabilize the situation. it won't prevent a recession, you can't prevent a recession, this is a mandated recession or an induced coma. but what can you can do is replace the income and guarantee the contracts of main street to get us to the other side i think that's what we're going to do. >> yeah, i think you laid it out well, there's still economists on wall street that are arguing about whether we will have a recession. that's ridiculous, to your point, this is a mandated recession, the largest cities in america have been told, don't go out, don't spend anything unless you absolutely have to it's going to come the difference between now and '08 is, '08, these things were designed to get people to feel a little more confident, maybe go buy a house, a car, allow the

banks to make credit here we're being -- we had a great economy before in many senses, and now we're being told don't go out, this is very differe different. >> it is categorically different, it's not about stimulating spending it's about replacing income that's lost because of the mandated recession equally important, it's about liquefying and guaranteeing contracts. whether it's financial contracts, that's called bonds or other contracts -- so that we the people can conclude that we're living in a growing concern. because we need to have replacement of income and a belief in the concerned nature of our contracts if we get there, i think we've reached the bottom from this standpoint of the risk aversion on wall street >> when we look at what the numbers are, and we tried to put it together today a little bit say adding up this and that. and then you throw on leverage

from the treasury. is it possible if this goes on for a few months, that we could have a ten -- a seven to ten trillion dollar total fiscal and monetary action? >> certainly i think so. the beauty of what's being done now and the cooperation between the treasury and the fed is the leverage the fed is not allowed to take credit risk. the treasury is with the authorization of congress. so essentially what we're doing is having treasury provide the equity piece into a special purpose vehicle that can be levered to the sky by the fid. so essentially, the fed is becoming the prime broker for congress. >> final question. will this work >> i think it will, yes? our economy is a growing concern. and we're getting really close

in the markets to playing it that way >> i like the optimism there again at the end georgetown, paul it's a pleasure, we'll talk to you soon, i have a feeling thanks very much. >> we're going to have much more on all of this on a cnbc special report tonight, once again 7:00 p.m. eastern time. join us for that. as our special coverage continues here, some signs of stability. the one stock that could be pointing to a near term bottom for the market, maybe. we're going to bring you that name ahead we're minutes away from the white house briefing on the coronavirus. we'll take you there live as soon as it begins. and we're back right after this short break. when i lost my sight, my biggest fear was losing my independence. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good.

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welcome back, you're looking live at the white house, where we're awaiting a briefing on the coronavirus. we're going to bring it to you live the moment it begins. let's turn to the reason you're here apple is down nearly 24% this year and risk of losing its spot in

the trillion dollar club the big selloff in technology has some investors licking their chops for the long term. here's what david tepper said earlier today on cnbc. >> a little bit of health care today. hospitals and such, mostly i'm nibbling in that text sort of stuff. >> welcome, like last week you said that when apple and microsoft began to really sell off even as other parts of the market didn't. that that actually might to you signal a bottom. why is that and what did you see today? >> last week when we were talking about it, to me, the relative outperformance of the two largest names in the market really stuck out to me last week, you mention that apple is down about 24% on the year, that's in line with the s&p 500, that was not the case early next week it's down about 30% from its all

time and 52 week highs that is in line with the s&p 500 the fact that it's catching up to the down side and a lot of the components were getting murdered last week shows me you're seeing a bit of that foreselling you're talking about, people will try to hold on to apple and microsoft as long as you can, and you're selling whatever you got, whatever you have that's left that's up. you have to remember, apple was up 85% in 2019 up 100% from its january 19 lows by the end of the year when you think about that outperformance, it has to come out on the down side, and that was one of the things i thought might show a little bit of capitulation that being said, i was listening to guy adami, and what was he trying to show you look at the outperformance today to the upside of some of these

groups like semiconductors that's a really interesting tell, the juxtaposition between apple and the semis. >> despite some really difficult inventory data we're likely to get. i want to focus to on the banks, bank of america down another 8% today. it's down 48% this year. the markets didn't act like they were out of the banking woods yet. you saw energy stocks despite crude being up, there were areas that acted horrible. you could say that's your capitulation too one stimulus headline away from a massive short squeeze. they're being pressed to the down side, really at this point, no great reason other than liquidati liquidation. we really can't put our fingers on what q 1 and q 2 looks like, to me the selling in those

spaces looks indiscriminate especially for a lot of these people, i see the calls, we're opening the economy back up sooner than later, seem to be growing a little bit, and that's where investors could get caught offsides a little bit, on sectors like the banks, like home build irs, i'm not telling you they're coming back any time soon, make no mistake, a vicious short squeeze is coming soon you. >> you believe we could see some violent moves to the upside sooner than later? >> it gets to a point where there's no one left to sell, when you think about how fast we've come down 30% in the s&p 500, and to your point where bank stocks are basically massively outperformed to the down side versus the indexes at some point you're going to get a snap bank, we don't know what we don't know at this point. there's been not a shred of good news for the last month or so, sooner or later we're going to get some and see basically just

how convicted the shorts are here, and i is spect you see a really violent short cover rally in the next week or so >> from a longer term perspective, you don't believe it's safe enough for our casual investor viewers and listeners out there to reallocating a lot of money to the overall market right now. >> if you have cash right now to start dollar cost averaging in we talked about this a lot, the last two recessions we've had in 2001 and 2007, '8, 9 in that period where the stock market sold off about 50%, i suspect we are definitely going to have a recession in 2020. the real question is how deep and how long at this point down 30% we're discounting a definite recession, but we don't know those other two answers. if you think about the worst case scenario is down 50%. let's say garden variety

recession,/market crash, you have to start thinking about 5, 10 years out, and start picking at these things. i'll make one point about apple, it was up 85% last year, in a year where earnings, sales, iphone units and margins did not go up, they were all flat year over year, so you had this massive multiple expansion, now the stock is back at 16 times. consensus estimates 1 call are for 10% sales growth that seems aggressive, the stock is probably still too expensive. until we start getting more visibility about q 1 and q2 looks like if it comes, stokes are still pretty expensive, if you think about how we calculate p & e, we know the e's going to be coming down, we don't have any visibility on that apple may rally sharply, to my eye, we'll probably have a move back to 200 at some point later on this year >> yeah, because it's not like companies are saying, we're

going to be down 10% in earnings we don't have any idea that e is a giant mystery. anyone that tells you otherwise is guessing. thanks, appreciate it. >> sure. coming up, some potentially good market news one top ranked technician says we could be closing in on a bot p.m. something is happening, it's only happened four times in 100 years. and we're still awaiting the white house briefing, expected to get underway in moments we'll bring it to you when it does

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welcome back let's get you up to speed on the fight against the coronavirus

pang demick. >> here is the latest new zealand is joining the list of countries are mandating their citizens stay at home. the prime minister says this lockdown will last about four weeks. they're getting 48 hours to prepare to go into self-isolation back here in the u.s., new jersey has become the first state in the nation to release prisoners in an effort to slow the spread of the coronavirus. the move affects some low risk inmates at county jails. virginia is closing its public schools for the rest of the year businesses are being ordered to close, that includes gyms, theaters and bowling alleys, and some people in boston are trying to find the lighter side of this outbreak a duck and duckling statues are now wearing masks. the figures come from the children's book make way for ducklings. brian as always, for more coronavirus coverage, head to cnbc.com >> the ducks don't want to run

afowl of the law >> we don't need puns at this time >> it's been a long couple weeks thank you very much. appreciate that. coming up, we're moments away from the white house briefing on the coronavirus. any more reason to be optimistic we'll talk about it coming up. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. you should be mad they gave this guy a promotion. you should be mad at forced camaraderie.

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call or visit welcome back, a live look at the white house, we're awaiting a briefing on the coronavirus outbreak we're going to bring it to you live as soon as it occurs. let's bring in craig johnson chief market technician. if i have to cutaway because of the briefing, my apologies in advance, my friend there are some things technically that you're seeing that you've only seen or have happened four times in the last 50 plus years. what are they? and does it give you some optimism that a bottom is near >> that is absolutely correct. this is only the fourth time we've seen all these measures from a technical perspective reach zero, and the last several times you have seen this, we had

huge opportunities to be buying stocks not only are these indicators at 0, sentiment indicators are at washed out levels. now is the time we need to start leaning in and buying stocks yes the news is negative, but a lot of it is already baked in at this time, when we have gone to be more than 20% below a simple 200 day moving average, looking back into the 1974 crisis. looking back at where we were in december of '18, 25uking about when it was time to buy stocks this is when you step up and start leaning into it. >> we heard at the top of the show, that technicals don't matter much right now, in this kind of an environment what's your answer to that >> the answer to that is flat out, that's incorrect. you look at support levels, yes, you're breaking through some of these support levels because of the coronavirus, and concerns about loved ones and things like that, and selling in these

stocks you are seeing support levels 00 being owe bad and the technicals do matter, right now, earnings don't at this point in time, we have no idea what the revisions are going to look like >> are there any stocks or industries that to you maybe look more wash uded out 2457b others you are supposed to buy low and sell higher. >> absolutely. if you put the playbook -- everyone's scrambling to get back into the market so some of these companies like the restraunts, for example, whether it's chipotle, wendy's, they are down more than 50, 60, even some cases 70% from the highs you've seen in january. a look at what you're doing with the airlines, there's going to

be support i suspect wur going to see the same for the cruise lines. all those names are tremendously sold off and well overdone you want to be stepping up and buying some of those names at this point in time. >> everybody's still working despite not being able to be in the same room. i'm sure there's some talk that some of these stocks, no way am i going to name any names, are going to go to zero. there's going to be bankruptcies in some of those industries. >> there is potential for some of these to go to zero as you would say, but again, think about what is happening with fiscal policy, they're going to put some processes in place, make liquidity available to a lot of these restaurants and a lot of these airlines and to the cruise lines, i think they're going to see these companies

snap back pretty quickly we have real issues as some of these food distributors are going to zero. >> i'm talking about beaten up retailers as well, already struggling before this outbreak. by the way, craig, if you looked at all to chinese market china's got obviously, the iron fist as far as they can -- they'll go in and buy stocks of their own companies and the parties -- part of the shareholder and many of these companies. it's not perfectly analogous have you found any solace that the chinese market has held up well >> absolutely. it's the playbook for us moving forward from here. we're going to hit the peek of this coronavirus over the next several weeks. we discounted a lot of the negative impact for the virus into the market at this point in time, if we could get the politicians to get on the same page with each other, and put a plan together here, i think we're going to see a long way --

see a lot of these stocks come back, just like you've seen in china. >> what's the next most important data point or anything that you are looking at, craig >> the next important data point i'm going to be watching, i want to continue to see strength in the dollar, that means the dollar is still in good solid footing at that point in time. also after that, i'm going to be watching to see some of these stocks reverse some of their down trends. and i'll be watching to see 23 we can see the bond market ultimately continue to remain stable in here the fed action today was critical to stabilizing the bond market i think that's going to be a critical part to what we have seen in the coming days and weeks. >> the lqd and some of these other bond funds i wrote a piece about it about some of these bond funds you have to watch. the oqd rising 8%.

that's an investment grade bond. that's what you're talking about, seeing that go up is a canary in the good kind of a coleman, perhaps. >> that is correct and i'll add into that the vehicles the vehicles index is now starting to come down. i think we're starting to get more calm into the market, th g things seem to be functioning better things seem to be orderly, even though this is the first day for electronic trading across the board with the floor closed. everything seems to be getting on the right track again >> i will let you go craig nailed the runup the entire way last year, really appreciate your point of view. i believe it is the first day in 200 some years that the nyse has had trading but without a physical presence. it's been closed, trading was closed after 9/11, i believe it's the first time they traded

without people the selloff, the markets and the economy, and the stimulus plan which failed the senate yet again. be sure to catch that tonight as always in the meantime, stunning details on how the coronavirus is impacting what is likely your most valuable investment do you think low rates are going to keep housing booming? you may want to think again. diana olick will join us again. waiting on the white house briefing on the virus. in the meantime, we're back right after this hey there people eligible for medicare.

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as a reminder, we are awaiting the latest white house press briefing on the coronavirus. when it occurs we will bring it to you live. we expected it to begin 15 minutes ago. the without break and the move in the bond market is having a big impact on the housing market homeowners are going to be looking for relief on their mortgage payments. and the mortgage industry is feeling the pressure >> last week fannie mae, freddie mac and hha announced loan forbearance.

that's a big help for borrowers, here's the catch the companies that connect those payments, the servicers, still have to pay the investors who own those loans. now, services can handle some delinquencies, nothing like what we're about to see the letter to the fed and treasury late yesterday saying the burtd on servicers could top $100 billion which those servicers just don't have. >> nobody predicted the demand that this would place on servicers. so they need an ability to have the liquidity to make it happen. and if there's not some kind of ability through liquidity facility, the servicers won't be able to meet their obligations to the investors and the whole process will break down. >> the services could actually go bankrupt, taking the whole housing finance system down with them now, just a note earlier today,

the fhfa announced it would allow multifamily mortgage borrowers to delay their monthly payments you can see this is all trickling down to that system that gets the money from you to the investors. and keeps the system going >> let's go back to the actual market itself if we can. mortgage rates, interest rates have kicked up when you issue so much debt, you're going to see interest rates go up a bit they're very near lows, mortgage rates you look at them on paper, they're near lows, but could you get a mortgage right now if you wanted to? are we starting to see this impact the actual housing market i have to believe we are >> yeah, i mean, can you get a mortgage now yes, you certainly can, the rates have been fluctuating pretty widely. we've been down at record lows three weeks ago, they bumped up pretty dramatically toward the end of next week there's a lot of questions, how are they going to close the loans, if you can't do the

closing in person, can you do a notarization on line, a lot of states don't allow it, they're trying to push to make that system happen online, closing could be hard, and for the purchase side of it, i don't know that there are a lot of people out there who want to buy a house right this minute, that doesn't mean there isn't a tremendous amount of demand in the market we don't have many homes for sale, and to make worse, people are delisting the properties they wanted to list this spring. >> a lot of the stuff we talked about that happens behind the scenes in the mortgage market, the grease on the wheels, all this trading we hadn't thought about since 2008 and 2009, the fed did a good job of loosening that up, the folks you talked to today, what are they hearing about how the mortgage market is functioning. the mortgage market is still functioning. you can still get a loan, it's a question of are investors still in that market have they gotten so priced out

they don't want to be in it any more so nervous about the risks that we're going to see prepayments they just don't want to buy those mortgage backed bonds. then the fed came in and is saying, they're going to buy billions of dollars, the system will continue, we will see mortgages made, it's just a question of who's going to be in that market. remember back during the sub prime mortgage crisis? we had a lot of loan delinquencies, but they happened over a long period of time it was three to four years before those loans went bad. that's a lot for the system to handle >> as paul said at the top of the show, it's kind of a government mandated recession in a way, they're telling you, don't do certain things. looking at the housing side of the story, thank you very much boeing stock getting a much needed boost today, it's still been an absolutely terrible year for the company. and it's investors $400 last year, 105 today.

we'll find out what is next for that stock we'll still awaiting that white 'luse briefing, when it occurs wel take it to you in the meantime, we'll take a break. 300 miles an hour, thats where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me that i'm protected. during turbulent times, consider protected lifetime income from an annuity as part of your retirement plan. this can help you cover your essential monthly expenses. learn more at protectedincome.org .

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i want to show you something i didn't think we'd ever see that is times square, it's almost 6:00 p.m. this would be normally rush hour, there are two police cars there, somebody on a bike going by there is absolutely nobody in times square i sent out a picture on instagram and twitter as well. i know it's raining, but even on a rainy night in new york city at 6:00 p.m., there would be tens of thousands of people rushing through that intersection right there truly incredible scene in new york >> probably the same in d.c., and d.c. is where we are expecting any moment we were expecting 20 minutes ago to get this coronavirus hearing or press briefing started. it has not in the meantime back to the markets, and let's talk about boeing boeing rising 11%, helping to pair some of the losses on the

dow dispute the fact the company said it's shutting down factories in washington state due to the coronavirus a $400 to $100 stock truly a year to forget for boeing and its investors >> that's true in terms of what the stock did today, you had goldman ringing the bell on boeing and saying, look, we think the worst news is already baked in, that's one reason why the stocks moved higher today there was news record of regarding broeg today. the company suspending its production in the puget sound area, including the everett washington plant by the way, the suspension of that production kicks in on wednesday. the workers will get paid during the suspension, this is one more case of coronavirus having an impact on manufacturing here in the u.s. and in terms of the airline industry, i want to switchgears a little bit, are they going to

get this bail out, this $50 billion that's going to help them they're going to get to $50 billion. will there be a cash grant so they can tie it over salaries? that would be 25 billion is it going to be all 50 billion in loans collateralized to aircrafts which is not what the industry wants and one last thing check out the airline index. basically saying, look, these guys have a couple months where they either get the bailout or in a couple months, you may see some banker fees there news happening, not only the airlines, but also with boeing speaking of boeing, you do not want to miss this interview, first on cnbc, 8:00 a.m. eastern, we will be talking with dave calhoun, ceo of boeing, it has been a very very challenging month for boeing lots of questions for dave calhoun, you do not want to miss that interview, brian? >> dave coming in and thinking he's going to be dealing with the 737 max issues

now he's edealing with the issues but they seem small in many ways, compared to the largest drop off in airline passenger demand except for a few days probably after 9/11 truly incredible times to come in as a new ceo. not a new ceo, but a new ceo to boeing >> the big concern in the industry, brian, especially for investors is, will the problems in the airline industry -- and it's not just here in north america, it's worldwide. will it lead to a number of airlines saying, i'm going to defer or cancel deliveries that i'm on the books for later this year, next year, whatever it might be at some point will they defer those? which obviously will hurt the backlog at boeing to a certain extent and it really has people questioning whether or not this great run we've seen over the last 10 years when it comes to aircraft orders, is it done? is it done because of what we're seeing the airline industry go

through right now? we'll talk to dave calhoun about that >> that's a big interview you cannot afford to miss. coming up, more on today's market side, dow falling another 3%, now down 37% from its all time highs just one month ago. the steepest drop in that magnitude, the fastest drop in the history of the stock market. still waiting on d.cin m. any ways, not just the white house briefing, but we had a failed stimulus plan vote today as well ♪

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still waiting on the coronavirus outbreak briefing at the white house. when it begins, we'll take it to you live investors searching for safety in this market which continues to drop. the dow down another 3% today. where might there be some havens out there? let's bring in brian kelly we had seen pretty much everything fall last week. even things like gold and bitcoin, people were in a rush to raise cash. it appears some stabilization in those markets the last couple sessions

what are you seeing and do you believe that gold, bitcoin and other assets may be a place to park some money right now? >> yeah, hey, that's exactly right, there was some silver lining out there today i know people focused on the stock market and see it down 3% and market that's the most important thing. you had diana on talking about the chain effect of having rising rates and having a dysfunctioning fixed income market what the fed did today was essential to stop that problem so that's step one bonds went up. that's great news. yeah, they're going to be printing a lot of money, they're going to be borrowing a lot of money. investors can protect themselves by having a fixed supply, which is gold, bitcoin, stuff like that those went up. the market started to react like it, quote-unquote, is supposed to react today which pleenz someans forced liqn is the way it's supposed