that will do it for us. we got a market under pressure, down 439 points on the dow jones industrial average. we will be watching that and any implications from the coronavirus. "varney & company" begins right now. stu, take it away. stuart: thank you very much, maria. good morning to you. good morning, everyone. yes, it is a selloff. we are not used to this on a monday morning because the market's been going straight up recently, but not today. look at this. dow industrials will be down over 400 points at the opening bell. s&p down 50. look at that nasdaq, down 167 points. i'll tell you now, big drops for the main technology companies this morning. the selloff in stocks brings with it a flight to safety and investors are in full flight this morning. look at this. the yield on the ten-year treasury, all the way down to 1.62%. ouch. the price of gold of course going up. that's a flight to safety. getting closer now to $1600 an ounce. oil pushing down again. it's close to, what, $51, $52 a

barrel now. let's explain what's going on here. it's the virus, the coronavirus. over 2800 cases, 81 deaths, five confirmed cases in the united states. the fight is on to contain it. china's second in command personally visited wuhan, center of the outbreak. 55 million people in a lockdown situation now, and the golden week holiday has been extended so millions don't try to travel as the virus spreads. this is a test for xi jinping. he's got to get a grip on the crisis to preserve his authority. they are pulling out all the stops. the great unknown is what impact this has on china's economy and the world economy. that is the uncertainty that's hurting your money this monday morning. now, let's set the scene for the whole week because it's a big week. another test for the market comes with big tech earnings, in particular apple and microsoft. if they don't come through with a blowout, that could be more trouble for those big name

stocks. the impeachment trial grinds on this week. no impact on the markets, but the media will be absolutely obsessed with it again. one week from today, it's the iowa caucuses. at this point, there's no clear frontrunner. and in two hours, about 11:00 eastern, israel's prime minister arrives at the white house. president trump's mideast peace plan on deck. what a week. "varney & company" is about to begin. stuart: let's get right at it. big selloff coming. look at the left-hand side of the screen. market watcher keith fitz-gerald with us this morning. am i right in saying that you expect this to be a 3% to 5% drop because of this virus event? >> that is correct, stuart. i'm still working on the finer points of those numbers but that to me is absolutely logical given what's happening today and the absence of any sort of controllable news. stuart: we have not yet got it

contained. we don't yet know the full extent of the damage to china's economy and therefore, the world economy. that's the uncertainty we are dealing with, correct? >> absolutely. traders are simply trying to get out of the base thway because t don't know what's coming next. stuart: do you believe what the chinese authorities are saying? >> you know, i spent a lot of time there, as you know. i remember vividly flying into hong kong in 2009 when they started quarantining thoe ining memories of sars. no, i don't. stuart: you don't believe them? >> no. i think this is far more serious than they are letting on. i recall traveling in china during that time period and seeing armed guards, seeing all kinds of people in surgical masks that are well and above what you are hearing in the news here stateside at the time. stuart: why do you say this time around you don't believe all they are saying? why this time? >> well, the economy has accelerated, the political control has consolidated.

china does not want to lose face above all else. so it's going all out to control the news. people, the reports that i'm getting back channel of things we are seeing emerging despite the great internet wall there are far more serious than the news reports are letting on. stuart: i understand that the mayor of wuhan has offered to resign because local authorities are coming under great criticism there. i believe we can confirm that. >> well, that's a normal thing for an asian leader to do, saying i take personal responsibility, in contrast to the united states where they diffuse responsibility. i view that as a logical good thing because he's trying to do the right thing. whether or not the government controls it is a different issue. stuart: stay there. i want to bring in steven mosher. same question to you. do you believe what the chinese are saying about this virus and containing it? >> no, absolutely not. i think it's far worse than the chinese government is letting on and remember now, as your

previous guest just said, the chinese communist party is now eating its own because the mayor of wuhan, a city of 11 million people, has now made a public self-criticism admitting, admitting that he engaged in a coverup, he and the party's secretary of the province engaged in a coverup. that is to higher levels of government, blaming the lower levels of the government and the party for its own mistakes. now, we've got all of this fanfare about a huge hospital being built, we see these people in surgical masks and completely covered from head to toe in protective garb. that's all -- much of that is for show, because by the time the hospital gets built in a week or so, a lot of people will already have died. the hospital itself may be just a building for show. you need beds, you need medical equipment, you need staff, you need doctors, you need nurses. without that, this hospital could easily become just a morgue. the people standing with their little temperature gauges at

airports and train stations, look, this coronavirus can be transmitted when it's asymptom attic so if you scan someone, they don't have a fever, they are not coughing and sneezing, they may still be carrying the virus and transmitting it to other people. a lot of this is being done for show to save face and i think they should have declared an emergency back in late november. stuart: maybe so, but they are in a very difficult position here. >> absolutely. stuart: we should give them some credit, as i said at the top of the show, they pulled out all the stops. 55 million people in a kind of quarantine situation, mobilizing as many resources as they can, and they have to do that. xi jinping has to do that, because he cannot afford an explosion of this virus. >> yeah, he can't because the chinese economy is facing a lot of headwinds right now. you have the population aging, the work force shrinking, the trade truce now, not the end of the trade war but just a truce for the next year or two, you've

got other problems. consumption is over half the chinese economy and right now in china, people aren't consuming anything other than food and medical supplies. so every other sector of the retail economy is going to take a big hit. that may reduce gdp growth by 1% all by itself. stuart: okay. keith, i want to come back to you for a second here. i want you to repeat this. you think that this downside move that we've got at the moment, down 1.5%, but you think because we haven't got this thing under control, or china hasn't got it under control, we are going to be down 5%, 3% to 5% total, is that right? >> that is correct. 3% to 5%, barring any kind of headline related to inoculation related to a cure, related to containment. stuart: got it. let me move on to alibaba. let me show you that, because that is the amazon of china. that stock is really getting hit. that's the wrong quote. it's down $13, alibaba down $13,

6%. back to $200 a share. now, i was inclined to think that alibaba is the amazon of china. if people have to stay home, they will be buying off alibaba but apparently that's not the case because you can't deliver stuff. amazon, same screen, amazon is down, way down, down $30 per share. that's amazon at this point. yes, they do report their earnings a little later on this week. so the entire market is consumed at this point with the virus, its spread, the lack of ability at this moment to contain it. there you've got alibaba up properly there, down nearly 13 bucks, $200 a share. let me show you overall here because the market is completely dominated by this virus. we are down, amazon down $31. overall, the dow industrials down about 450 when the market opens in about 20 minutes' time, 450 roughly. look at the s&p, down 51 points.

the nasdaq, close to a 2% loss there, down $171. we will keep you up to speed on this one for sure. another big story, of course. the shocking death of kobe bryant. we have the latest on the investigation into the accident. looks like weather may be to blame. fans have been leaving tributes at the staples center since they heard the news. i will share my thoughts on what is a tragedy in just a few moments. later in the program, president trump welcomes israel's prime minister to the white house. they are talking mideast peace plan. if the president speaks, and he may well speak, you will hear it, of course. a "new york times" report quoting from john bolton's forthcoming book says mr. trump linked the hold on aid to ukraine to an investigation into joe and hunter biden, could have some impact on the impeachment trial. more "varney & company" after this.

stuart: if you're just joining us, the word is this monday

morning we have a selloff on our hands. you might not be used to that. most mondays we open with a nice rally, but not today. we are down across the board and the virus is what's causing that selloff. then there's this. ousted national security adviser john bolton's new book called "the room where it happened" stirring up controversy. a "new york times" report quotes the book and says that president trump tied ukraine aid to investigations of joe and hunter biden. congressman andy biggs, republican, arizona, joins us now. i would imagine the democrats are going to demand that bolton becomes a witness. what will be the republicans' response? >> i think the republicans are going to stay the course. i mean, what we have here, stuart, is a last-minute ditch to sully the president again and look, this is again hearsay wrapping around an allegation. i mean, we don't know who leaked it but we do know that bolton's team said they don't admit or deny the content of the article so we really don't know what it

is but think of it, does it affect the substance of the impeachment allegations in and of itself, and the answer is no, and it's undermined by the evidence of president zelensky himself who said there was no quid pro quo, there was no pressure put on me whatsoever, so the money was delivered, the money was delivered on time, no pressure. it doesn't really change the substance of the event. stuart: but we will be hearing an awful lot about it for a long time because they will grasp at the straw of the bolton book and i think they will run with it. but let's move on. the virus, there's a case i believe confirmed in arizona. your state, of course. i think you guys, the authorities are in a very difficult position here because you can carry this virus and pass it on without showing any symptoms. so how do you check the people at your border or at the airports as to who's got it? >> that's exactly right. it is a real problem.

the individual here had been recently to wuhan and is in tempe which, by the way, is the home of the largest university in the country so take becomes a bigger problem. too. it's really hard to contain because you can't detect it because you can pass it without symptoms, as you say, asymptomatic people can carry this disease. it's a real problem and i think china's got to contain it over there but we've got to be looking at folks coming in, particularly from wuhan and from china or who had passed through there on any travels. this has the potential to be a huge problem. stuart: i just want to emphasize the extreme difficulty of finding out just who's got it. you could have people coming off a plane and a couple people have sniffles or coughs. are they immediately suspect? are they taken aside? very tricky situation here. >> yeah. that's right. i think the health officials in arizona are trying to get a grasp on it and detect it as

well, but we obviously need help from china and your previous guest said we are not quite sure exactly what china is doing. they may be overselling what they are doing. but the five main cities that actually see people coming in from wuhan are our biggest cities and you know, i travel on a plane a lot, you travel on a plane a lot, it's almost impossible to quarantine everybody who is going on a plane. stuart: i just wonder how much it will cut down on travel. we shall see. look, thanks very much for joining us on a difficult day. we always appreciate it. thank you very much. the virus affecting big names and names that you know. first of all, disney. they have now closed their shanghai and hong kong theme parks. we have mcdonald's and starbucks. they are going to close some of their china locations, i'm not sure how many but a lot. and we have cruise lines, they have suspended china operations because of the virus, of course. what else have we got going here? deirdre: i want to add that royal caribbean canceled a sail

from shanghai to japan. no passengers from wuhan or those who have recently been there allowed. carnival cruise line doing the same. they will do passenger health screenings. norwegian, the same. essentially they will take your temperature. if you are above 100.4 or have been to wuhan in the past 30 days, you actually don't have admittance. all of these companies are saying we will work with you, we understand you paid your money, you will get a cruise, just not now. we will work with you to basically extend your plans. also, china suspending all tour groups within its country. if you were scheduled to fly out, which is really a relief to a lot of other places that had expected to do heavy screening. again, the government saying we will work with you, schools as you know in hong kong mainland postponed, duke university, nyu, they have relationships with universities there, they are delaying their spring start. stuart: interesting stuff. keith, come back into this. seems like it's travel-related companies that are subject to the worst losses today, right?

>> well, certainly, that's going to be the first swipe at this is going to be tour companies, going to be airline companies, going to be logistics companies, anybody that feeds that industry, pun absolutely not intended. it's a very serious situation. this is the part of our society that we have sort of danced around but never come to terms with. stuart: how about oil? i see that it's down again, $52 a barrel. this thing has gone from roughly $60 to $52 in a few days because of the virus. explain the connection. >> well, the connection is purely about global growth. the old style instinct is if we have a slowdown in global growth, we are not going to need as much oil to fuel our industry. i would argue that that equation has changed but it's not going to stop traders from feeling it. stuart: okay. let's have a look at futures, see how the overall market's likely to open this morning. opening way down. at latest count, down 470 on the dow, 56 on the s&p and 184 on the nasdaq.

down day. president trump meets israeli prime minister benjamin netanyahu later this morning. we just received this. palestinian officials say mahmoud abbas has rejected trump's bid to discuss a peace plan. fans in los angeles and the whole sporting world mourning the tragic loss of laker legend kobe bryant, who died along with his 13-year-old daughter gianna and seven others in a helicopter accident yesterday. more on this in just a moment. d, is about to become your problem. ahh no, come on. i saw you eating poop earlier. my focus is on the road, and that's saving me cash with drivewise. ♪ ♪ everything your trip needs, for everyone you love. expedia.

for everyone you love. can you help keep these iguys protected online?? easy, connect to the xfi gateway. what about internet speeds that keep up with my gaming? let's hook you up with the fastest internet from xfinity. what about wireless data options for the family? of course, you can customize and save. can you save me from this conversation? that we can't do, but come in and see what we can do. we're here to make life simple. easy. awesome. ask. shop. discover. at your local xfinity store today. some people say that's ridiculous. i dress how i feel. yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real.

what's your idea? i put it out there with a godaddy website. make the world you want. stuart: it is a personal and family tragedy. the whole world mourns the loss of kobe bryant. his death was announced yesterday afternoon. we have all been watching clips from his playing career. the man was brilliant. he would drive to the net with the fluidity of movement that was pure artistry and he was competitive. he was a winner. we are also discovering that kobe was well into a business career. after leaving basketball he became a partner at a private equity firm and he put his name on it, too. they've got a piece of the legal zoom, they've got a piece of alibaba, they've got a piece of dell technologies, among other stocks. now kobe bryant is gone. he was flying his helicopter with his 13-year-old daughter.

all on board were killed. the tributes are pouring in. ashley: yeah. disbelief is the main one. obviously, grief as well. we see outside the staples center, outside candles, vigil, people just in disbelief. i want to share some tweets with you. how about shaquille o'neal. shaq, who had such an intense relationship with kobe at the lakers when they were winning championships, says there are no words to express the pain i'm going through with this tragedy of losing my niece gigi and my brother. i love you and you will be missed. my condolences go out to the bryant family. magic johnson of course, another great basketball player, tweeted this. my friend, a legend, husband, father, son, brother, oscar winner and greatest laker of all time is gone. it's hard to accept. kobe was the leader of our game, a mentor to both male and female players. president trump as well also tweeting this out. kobe bryant, despite being one of the truly great basketball players of all time, was just

getting started in life. he loved his family so much and had such strong passion for the future. the loss of his beautiful daughter gianna makes this moment even more devastating. stuart: there is an ongoing investigation into the accident, of course. are they focusing on the weather? ashley: initially, they are. it was foggy, overcast skies. it was an f-76 helicopter, the "new york post" is reporting that the pilot is described as very experienced, he was instrument rated which means he was rated to fly in the fog and thick clouds. he was very experienced, very well known in the los angeles area. just an all-around great guy. he flew kobe bryant's helicopter as you say, who owned the chopper himself. very sad. stuart: i think it's going to be one of those occasions where you will remember where you were and what you were doing -- ashley: i couldn't believe it when it hit my phone yesterday afternoon. i was like no, can't be true.

stuart: exactly the same. we mourn his loss and so does the entire sporting world. meanwhile, i will get back to the markets. i want to bring back keith fitz-gerald. jeff sica joins us. deirdre and ashley on board right now. i'm going to use an expression which we have not used in the recent past, and the expression is black swan. that's an event that pops out of nowhere, you can't forecast it, but it has really very powerful negative effect on your money. jeff, is this a black swan event? >> i think it is a black swan event and it's what investors have to be most concerned about. this is not near being contained. until it is contained, you don't know if it's a buying opportunity so i would let this play out. remember, it's the devil that you don't know that will get you. it's not the devil that you know. so we don't know what's going to happen. we have to wait to see what's going to happen, then decide and keep in mind, the market is very lofty and we need a much greater

selloff. stuart: what do you say? ashley: you don't know it's a black swan until you look in the rear view mirror is what i think and you say yeah, that was. at this point in time, it feels like it is. this market has been looking for reasons to sell off. we have been going higher for so long, that i think people are like this could be the time now to take some of that money and see where this goes. for the time being, this is an event that we never foresaw. deirdre: china and the u.s., the world's two biggest economies, we are talking about disney, nike, apple, all u.s. companies that depend on china for revenue. stuart: keith, come back in again, please. it occurs to me that a lot of people were expecting some kind of pullback. we had just gone straight up for so long that people were saying come on, we've got to have a pullback, correction, call it what you like, at some point. this virus seems to be the excuse. it seems to be the catalyst for the selloff. >> oh, i think so, for all the reasons everybody just mentioned. whenever a market gets extended it's like a big rubber band. it simply wants to pull back. we have been overdue for that for arguably 30, even 45 days.

how far does it go, that's the unknown, to jeff's point. it's not over yet. let it sit, let it sort itself out, but history shows if there is a silver lining, that this type of stuff tends to be a remarkable buying opportunity for the right companies, when the dust settles. stuart: the dust has not settled. you don't know how this is going to be contained or when it's going to be contained and when you roll it back. ashley: when you look at the history books, go back to sars, ebola, the avian flu, yes, the markets at the time sold off but ultimately, they came back fairly strongly. >> keep in mind, too, you have a consumer market that is very overleveraged at this point. so anything that affects the consumer, when you have this massive chinese consumer market, is going to affect the overall market. the market has been hinged on that consumer. that's the most fragile part. i would say people have to look at the fact that tourism, we are going to see a lot with the oil

industry and airline industry. there's going to be a lot of declines. that's a major concern. deirdre: people buying food and medicine in china. that's it. nobody will be shopping for extra things right now. stuart: i have to point out, though, in the sars problem of 2002, stretching into 2003, the market went down but within a couple of months of the end of the sars problem, the market had bounced right back again. there's no telling that that might be the case again this time. >> well, actually, i think it will be the case, because the underlying business case that we talk about so frequently, the numbers, the employment, the economics, the fact the united states is leading the way in the global business environment at the moment, that is going to all be a net positive. the question is how far does it have to go before traders come to their senses and want to put money back on? stuart: key question, would you buy anything today? >> no, i wouldn't. there's no reason to try to catch a falling knife. we simply have too many unknowns. it's a matter of take profits, raise cash and look intelligently at what you do

want to buy. stuart: we are about to open up. would you buy anything today? >> i would certainly buy gold today. it's the perfect time to buy it. stuart: got it. all right. you hear the bell ringing. you can see them clapping. we've got eight seconds to go. the market will open this monday morning and it's not like most monday mornings that we have seen recently. we are going down. here we go. 9:30 eastern time. we are off and running. i'm going to expect to see a whole lot of red ink on the left-hand side. there it is. every single dow stock that's opened is in the red and overall, the dow has dropped 548 points. 543. best part of 1.8%. the only winner is the 3m company which is actually green. everything else is in the red. we are down 500, a loss of 1.8%. now show me the s&p. we will talk percentages for a moment here. that's how big a loss we've got. 1.82%. precisely the same as the loss on the dow. very much an equivalent. the nasdaq, ouch, that's where the big losses are. you are down 2.3%.

that's 220 odd points. you are back to 9,000 and change. very different from where we were last week. let me go through some of the key groups of stocks which are going to be mostly down. i take that back. biotech stocks are up because one of them might come up with a vaccine or treatment of some sort or test of some sort. that's the play there. gambling stocks, i expect to see them down on the grounds that gaming companies get a lot of their revenue from macao which is part of china. sure enough, they are way down. look at that. we've got wynn which gets 75% of its revenue from macao, down, i can't see it, 10% roughly speaking. travel stocks, i'm sure they are going to be down. yes, they are. in percentage terms, a big drop. airlines, less travel, less people, fewer people flying. united, delta, american, all of them down 4% or 5%. show me alibaba, please. that is the chinese amazon. i've got a piece of this.

i thought, i bought it sometime ago, but i thought that in this crisis, people would be buying from home on alibaba because they can't go out but then rii s realized you can't get the stuff delivered because you have 55 million quarantined. that's down to $201 a share. we have a winner on this selloff day. wouldn't you know it, they make those face masks that everyone is wearing. okay. alpha pro tech up 28%. do we have any more on this? lauren, what have we got? lauren: this is the microcap stock. it's not up much when you look at the dollar amount but certainly 28%. here's the deal. people are nervous, trying to prevent the spread of the coronavirus however they can but experts say hand washing is probably more effective than wearing a mask but still, folks are nervous. when you look at alpha pro tech, companies like lakeland industries, dupont, all of those make the preventive face masks,

those are surging double digits percentage-wise today as well. stuart: you see those pictures and absolutely everybody is now wearing a face mask. it is completely universal. ashley: but they are open at the sides. a lot of health professionals say it may make you feel better but doesn't do a lot. stuart: alpha pro tech make the masks and are up 27%. we are told the cdc, the centers for disease control, will give an update on the situation at 11:30 eastern time this morning. let's see what happens then. that could move the market. 11:30. we will be watching for you. now let's focus on big tech. apple, microsoft, facebook, amazon. they all report this week. look at this. all of them are very significantly lower. look at apple is down nine bucks. google is down 36. apple is taking 72 points out of the dow. it is a dow stock, major loss there. facebook is down four bucks. amazon is down 35. microsoft down 3.60. why are the tech stocks taking

it on the chin like this? >> most of them are very liquid, owned by all the big institutions so it's simply a function of the broader market looking for some place to hide. i think it's all overdone because none of these companies is especially susceptible to the coronavirus save apple which has got big exposure in china. stuart: know what worries me, jeff? their earnings reports this week, if they're not absolutely stellar, those stocks come down. i suspect, i don't know for sure. what do you think? >> that's right. be very leery about a market that's priced to perfection. these are the drivers of the stock market. they have been the drivers. they may continue to be the drivers but here's what they face. they face antitrust concerns going into the next year. remember we had a lot of speculation over it. now we actually have states that are saying that these companies are too big and if they end up fighting that battle in court, they may not have their dominance and that could be a downside. these are stocks that rise

seemingly under any circumstances and that creates a real vulnerability. ashley: but if it drops below 300 it's already down significantly, isn't that a buying opportunity? this is fundamentally an amazing company. >> of course, apple is a great consumer product company. they are testing -- ashley: right. would you buy under 300? >> no. listen, i have been taking a lot of criticism over my criticism of apple but they're not innovating the way they should be to maintain these over trillion dollar valuations. i think they need to innovate. stuart: keith, would you buy apple if it slips below 300? >> well, jeff and i may wind up buying each other a beer here but yeah, i would. i think that the medical pita is much more, i think apple goes to 400 when the dust clears. stuart: would you buy microsoft if it drops below 160? >> i would buy microsoft even tomorrow, as early as tomorrow,

potentially, because i think they will have blowout earnings. i think they are moving the cloud, they have subscriptions. that's a company i'm very interested in. >> i agree with keith on that one. i would buy microsoft. not apple but microsoft. ashley: just to rub it in. stuart: let's check the overall market. in the first few seconds of business, the dow is actually down over 500. now we are down 448. that's a loss of 1.5%. similar loss on the s&p, a bigger loss, 2%, on the nasdaq. just let me show you signals for a flight to safety. look at this. that is the ten-year treasury yield. let's explain this. it's all the way down to 1.61%. why? because people look for safety, they buy treasury securities, the price goes up. if the price goes up, the yield goes down. that's a huge drop -- deirdre: lowest since october, i think. stuart: lowest level since october. 1.61 on the ten-year. that tells you something. the price of gold edging closer

to $1600 an ounce. $1588, to be precise. the price of oil, way down again. okay. $53 a barrel. it was $52, now it's $53. less travel, less airline flights. ashley: less demand. stuart: less demand for crude oil, down goes the price. $53 at the moment. of course, the bright side to this is we've got a national average for gasoline of $2.51 a gallon. i see it dropping way below $2.50. i will smile for that one. tesla down, i think it's down because it's got a factory in china, right? deirdre: yeah. i mean, listen, we have to remember that more than half of the electric vehicles that were sold last year were sold in china. so for tesla, china is the number two market, neck and neck with the u.s. and of course, the huge shanghai factory, we have been talking about this all through last year, this is a really significant part of this company's business so tesla goes

along with nike, goes along with disney, goes along with apple, they have huge exposure to china. listen, since october, remember the company reported that surprise profitability, right, and then since then, you have seen investors become a little more confident in the stock and in the earnings. this is yet another company that we are talking about this week in the earnings context so if they do an amazing job, you will have an amazing rally with tesla's stock. the they are disappointing, probably a further selloff. stuart: there's a lot of stocks, a lot of companies that are relying on a bounceback, relying on the contagion being stopped, relying on a vaccine of some sort. ashley: it will eventually. depends how long. deirdre: some people say about a year for the vaccine. stuart: how much damage does it do to china's economy? isn't that the main question here? >> going into a fragile economy to begin with, now this makes it even worse and the chinese new year is a crucial time for the consumer. this wipes out a lot of capital.

deirdre: the government did say they are extending some of this holiday period because they don't want people to break the rules somehow and try to travel. but that said, again, this is the world depending on how you measure it, either largest or second largest economy. stuart: let's put boeing back in the news again because they are in the news. boeing is down just five bucks, a loss of 1.7%. they reportedly are considering another cut in the production of the 787 dreamliner. this is not the max jet. this is the dreamliner. that's in the face of weaker demand. keith, you like boeing at $317, yes or no? >> no, i do not. i think the stock may drop tall way, worst case scenario, under $200 a share. stuart: what? under what circumstances would it drop below $200 a share? >> failed recertification, more cash that they need, interruption of the dividend, failure to train ongoing airlines and stopped delivery because the cost of maintenance is going up. ashley: the next earnings report is wednesday. be really interesting to see the

damage done by the 737 max and elsewhere. stuart: you wouldn't buy boeing at 317? >> no. i disagree with keith on this. i do think that boeing is going to recover from this. these production cuts have been a concern of mine. this is a $250 million plane. it's a concern of mine but i think boeing is going to rebound and keep in mind, they own a good percentage of the market. that market is not going away. i would wait for it to settle out but i would be buying it. stuart: fascinating. boeing is at 318, down five bucks. we have a selloff almost across the board. dow industrials down 430 points. i'm going to keep showing a lot of stocks on the left-hand side of your screen to show you the extent of the selloff. big tech really taking it on the chin. travel companies taking it, all coming down. airlines all coming down. biotech stocks, anyone who might have a treatment or vaccine in the future, going up. what else? deirdre: i was just going to say, most health experts say

it's at least a year away, a vaccine, at least in the u.s., we will get that update at 11:30 you mentioned from the cdc so we will hear more. i want to point out with the dow, if we fall 510 points or more, we are negative for 2020. so obviously, hopefully we hold steady at this level but if we fall more, we wipe out this year's gains. stuart: remember, at 11:30 eastern time this morning, the cdc, centers for disease control, will hold a conference call. they will update what they have on this virus. ashley: that's important. stuart: very important. ashley: very important. stuart: i have no idea what they are going to say but -- ashley: what they do say could have an impact. deirdre: it will move the markets. stuart: i believe so. the difficulty is, you can pass this situation along, you can pass the virus along even though you yourself do not show any symptoms of it. ashley: right. stuart: which makes finding it, identifying it, stopping it, containing it, that much more difficult. imagine, you are on a plane, coming in from some place else, you get off the plane, you are

in america, you are walking down through the jetway and you've got the sniffles. you've got a cough. you are pulled aside. you don't know whether you've got it or not. whereas somebody else who has not got the sniffles, if they're not coughing, walk straight through, they may have it. it's extremely difficult to stop this thing. >> that's why the symptoms are the common cold type flu symptoms which a lot of people have. deirdre: especially this time of year. stuart: a difficult situation for the authorities. you've got to feel for them. okay. i've got another winner. we are trying to report winners today. it's meridien bioscience. lauren is at the new york stock exchange. they are bidding it up by 19%. i presume they've got some kind of connection to the virus. not sure what the connection is. you see quite a few of these -- ashley: yeah. they are developing screening tests to detect the virus.

okay. that's why they are up 19%. stuart: looking to my right here, i see none other than michael zaykor come into the studio. you are our guy on retail. explain to me, i thought alibaba could go straight up in this situation because there's a lockdown in some parts of china. you can't get out of your house so you can order stuff online. but alibaba is way, way down. i think down eight bucks, down another 4%, $204. explain for me. >> yeah. so as recently as three weeks ago, alibaba hit its high of 230. now we are down to about 202. the reason being is people are afraid, they are just not spending. they are going out, buying the sendingse essentials, they are trying to buy face masks. this has had a huge impact. the timing could not have been worse as this friday was the chinese new year, a time when hundreds of millions of people normally travel to see relatives, go shopping and big

celebrations. even alibaba can't cope with that. stuart: people are not spending. >> they are not spending. stuart: not that they are holed up and getting online, they're just not -- >> they are not going to restaurants, not getting on airplanes, not going on trains. think about also, china is essentially locked down, the equivalent of 100 million people in the central provinces who can't go in or out of these areas. stuart: do you have any way of saying what impact that might have on china's economy? we already know that it's growing at the slowest pace in many years. they say 6% a year. any idea what impact -- >> yeah, we have done some research and estimate that right now, in a best case scenario, if this thing doesn't resolve itself by april, you could see as much as a full percentage point chopped off of chinese gdp growth. almost a percentage. stuart: that's a best case? that's not a best case. that's a worst case scenario, isn't it? >> it might not be the worst case scenario. we think that might be the average case scenario, that it's

likely. stuart: does it all depend on the successful containment of the virus and getting a treatment and a test? that's what it's all about? >> absolutely. and just calming people's nerves and preventing this from becoming a global issue. stuart: keith, what do you say to this? you have great experience in asia. is it just a question of confining it? stopping the contagion? getting a treatment, getting a vaccine, getting a test? do all of that, and we're home-free? >> you've got to do all that, plus allay the public fears because china functions very much as a group so if you clear the streets, you've got to let people know it's okay to come back into them because it's a cash-based economy. they've got to get the consumer engine moving again. that's the tricky part. deirdre: containing fear, you mentioned this earlier about the mayor of wuhan. ashley: two things about that. he now, although he's getting eviscerated on social media in china for not responding properly, he says part of the blame is in beijing because they are not very transparent and take a long time to give

permission to release any information. it took three weeks from the first case was reported so it appeared in a newspaper on the front page. also, five million people reportedly, according to the mayor, left the city before travel restrictions were imposed ahead of the chinese new year. five million. the incubation period they say is 10 to 14 days, with someone who has this virus. during that time, they can pass it on as you were saying earlier without showing any symptoms at all. up to two weeks. deirdre: according to this translation, the mayor of wuhan saying the world should expect infections to keep climbing. stuart: he said that. deirdre: according to our translation of what he said. stuart: keith, xi jinping, is his authority threatened with this? >> oh, i think absolutely, because again, they cannot afford to lose face here. anything that embarrasses china is potentially a risk to the control structure and to xi jinping particularly.

>> i do a lot of business in china. i advise u.s. retailers and brands on the chinese consumer and how to sell american goods and european goods to the chinese. this is going to be devastating for a lot of the u.s. and european brands. if we look at the luxury sector, looking at numbers where burberry, lvmh, all down by 4.5% today. it's really a testament to how important the chinese consumer is to luxury brands in general but to, you know, consumer goods companies. in fact, i'm supposed to be flying to china next saturday. i have canceled my trip. i'm not going. i talked to my people there and they said why would you try and come to a place where everybody is trying to get out? stuart: whoa. what else you got? ashley: just to that point, i think we need to stress that first, we thought you know what, the chinese authorities are acting quickly. what we are finding out as we kind of go backwards a little bit and look at how this thing began, we can see why this virus is spreading so quickly. a lot of people moved out before

they put the restrictions in place, up to five million from wuhan itself. it will be very difficult to what deirdre was saying to contain it. stuart: seems like we've got some, dare i say, some stability. the dow is down 400 points, roughly 1.5%, and it's been that way for a few minutes. now, i'm not going to say that's stability by any means, but maybe the market selloff is taking a pause because at 11:30 eastern time, the cdc holds a conference call with an update on the virus. that could move the market. maybe there's a pause waiting for news from the cdc. we shall certainly find out. take a look at the price of oil. again, taking a hit. we are at $53 a barrel. before this virus came along, i believe we were at $58, $59 a barrel. so it's really down sharply. andrew lipour is with us with lipour oil associates.

tell me why oil has down so much because of this virus in china. >> well, the main reason is that you see travel demand is declining significantly and when a city like wuhan shuts down all inbound and outbound flights, of course that's immediate impact on jet fuel demand but coming during the lunar new year, you are also seeing the tourism industry be disrupted and that of course is going to impact on gasoline and diesel demand throughout asia. stuart: does it really take that much off demand? i mean, we are talking just a few days here of quarantine and travel restriction, so far, i understand that, just so far, but is demand really cut that much? >> demand will be cut two to 300,000 barrels a day and the market is fearing this could be a longer lasting phenomenon especially if it spreads. your previous guest talked about canceling his trip to china and if a lot of people feel that way, you can see how the oil

demand will slacken off over in that part of the world. stuart: i'm trying to look for bright and silver linings here. the only one i can think of is gas is going to get cheaper in america. am i right? >> well, you are exactly right. i mean, the consumer is going to see another decline in 10 to 15 cents a gallon because we are already seeing the national average at about $2.51, with eight states already having gas stations well below $2 a gallon. stuart: i don't think that -- hold on a second, andy. that doesn't necessarily balance out all the other negatives from this virus, but i'm grasping at straws. help me out here. >> well, you can grasp at that straw but i think what it comes down to is that, you know, we want low oil prices but we don't want too low oil prices. stuart: that's right. >> we do want the consumer helped, but the consumer needs to be helped a lot with reducing debt levels in their own personal spending. stuart: andy, jeff sica has a

good point here. i love low gas prices, but oil at $52, $53 a barrel does not make fracking profitable in america. not good. >> that's right. i mean, the oil industry is now a victim of its own success with oil production in the u.s. at 13 million barrels a day. i mean, i would expect we are going to see some more bankruptcies here in 2020, not only are oil prices down but natural gas prices are now below $2 a million btus and gas is coming out with a crude oil so that's another impediment. but the consumer is the beneficiary in the short term. stuart: andy, is this a black swan event in the oil market? >> well, i think it is and eventually, you know, the doctors will figure out a vaccine for the coronavirus but the oil market just simply remains under pressure with adequate oil supplies, record amounts of gasoline inventory going into the summer driving season, so what the oil market

really needs is worldwide demand to continue to grow in spite of growing supplies in the u.s. and elsewhere. stuart: okay. michael, 10 to 15 cents a gallon cheaper for gas in america. i know i'm grasping at straws but isn't that good for consumers? and retailers? >> yeah, yeah, i mean, there certainly could be a knock-on effect there where people are able to save a little at the bank and spend a little more at the store so we could see that develop. stuart: let me put it to you like this. has this virus really changed your outlook for the retail companies that you follow? >> not yet. i think it's still a little too early to tell, especially on the retail side. what we can see is a greater effect on brands themselves, especially brands who have a lot of exposure to china and asia as a primary/secondary market. stuart: was it luxury brands you were looking at? >> some of the biggest luxury holding companies in the world.

burberry, lvmh, louis vuitton, all down about 4.5% today. all these companies have one thing in common, that generally speaking, china is their second largest market. stuart: we are coming back a little bit. down 380 now. ashley: interesting, watching the ebb and flow of this market. gold was up 12 bucks, now only up six bucks. the ten-year went down to 1.61, now back up to 1.62. we were down 500 points, now we are down 386. money coming in and out. interesting to watch the flow. stuart: it could be that some people are buying. ashley: that's what it feels like. stuart: brave souls who catch the falling knife and think they've got a bargain. >> or you have people who saw the futures fall, that sold at the open and see the selloff is not that bad so they decide to get in and ride some upward momentum. like you said, the 11:30 call is crucial. stuart: i'm determined to be positive and i found some stocks that are going up. for example, meridian bioscience. lauren at the new york stock

exchange, they are developing a test for the virus? lauren: yep. it's very promising here. the stock is up 25%. company executives say they are screening so far, making screening processes faster and more affordable. they call it a reagent, it works so well and makes economic sense for coronavirus diagnostics during these times of great urgency. so working on a preventive measure here and screening test is looking positive. there's a winner today in a deeply red day. stuart: those are the magic words. developing a screen test. ashley: something. stuart: not sure exactly what a screen test is, to be honest with you. screening test. okay. people getting off a plane, for example, you've got maybe a test here, have you got it, yes or no. ashley: screen and a test are the same thing, right? stuart: screening test. >> keep in mind, these stocks, i have seen these stocks move up

during other epidemic scares. i think there's a lot of traders that jump into these and ride the momentum, so keep that in mind. deirdre: knee-jerk reaction. stuart: doesn't necessarily last. >> no. it's a trading mechanism. stuart: although if they've got a screening test -- >> if they have it, it should not be a $12 stock. it should be a better, you know, higher price. stuart: up nearly 30%. of course, this virus, what's going on in the market, it's affecting some really big names and you know them. start with disney. they have closed the shanghai and the hong kong theme parks and disney is back to $137. mcdonald's and starbucks, they are going to close some china locations. don't know exactly how many, but certainly some. both of those stocks are down. when you start using percentages to describe the gain or the loss, in this case a loss, you know that you've got a big deal on your hands. i have to say thank you very much to keith and to jeff and michael for being with us. very difficult market opening. gentlemen, thank you very much. president trump welcoming

israel's prime minister benjamin netanyahu to the white house. that takes place in about an hour. they will be discussing the president's peace plan for the mideast. we have our cameras there. we are interested in case the president says something. he often does. he might not be just about the mideast. could be about anything. we will bring it to you. the meeting is just the beginning of an extremely busy week for the president and the whole country. he will be signing the usmca, he's holding two big rallies, one in new jersey and another in iowa. now let's talk more about iowa. the caucuses are exactly one week away. i've got a prediction why that will create a big problem for the democrats and their presidential hopefuls. i think the caucuses are a big problem for the democrats, actually. i will share it all with you in my take that comes up in just a moment. you're looking at another hour of jam-packed news coming up for you. and etfs are commi.

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stuart: coming at us right now, president trump tweeting about china, here it is. we are in very close communication with china concerning the virus very few cases reported in the usa but strongly on watch. we offered china and president xi any help that is necessary. our experts are extraordinary. look at the stock markets. the dow, s&p, nasdaq, all of them on the downside. this is a monday morning, usually the market goes up on a monday morning but not this time around. that virus is affecting everything. i will make one comment, however. when we opened at 9:30 the dow was off more than 500 points. we've come back a little. we're still down sharply, but minus 390 as we speak. if i use the word stability, that is probably wrong word to use. we are coming back a little from the initial, spectacular decline right from the start.

the backdrop for the market is the coronavirus. it continues to spread worldwide. 81 people are dead. 2,000 cases and more reported so far. most of them in china. that is where the virus began. most important, 11:30 eastern time this morning the cdc will provide an update on the latest there. that could move the market. 10:01, we just received latest on new home sales. ash? ashley: 694,000 on an annualized basis in december. that shows a slip, down .4% from november. it is down 1.1% year-over-year. median sales price was 3,000, wouldn't that be great, 331,400. that's up from the same month ago when the sales price was 329. you allow for inflation. the sales number, the actual sales price stayed fairly level.

with cheap mortgage rates, it has been, it has been an effort to the if the market going but bear in mind, new home sales are just 10% of the housing market. stuart: right. ashley: another indication that perhaps housing slowed down a little bit. stuart: it is still not a dynamic section of the economy. ashley: based on low rates. stuart: come on. book to the markets. they're all down because of the coronavirus. george see with us, allendale capital chairman. we have a lot of talk, black swan, the event that you can not forecast, suddenly hits you from nowhere. is this a black swan? >> not yet. cdc will play a large role containing this. this is about a 99% china contained situation. it is tragedy for that country. it has not fon everywhere else. a lot of nervous nellies in the market watched the market.

looking for black swan to take them out. they have one foot in the market, one foot out but so far this isn't it. stuart: we were talking about this during the break with our producers. it is anrd early selloff. can you put it like that? no panic? >> no panic by any means. people are trying to induce panic. it is not working yet. they are looking at facts and realize this is no black swan. stuart: i believe there could be buying, brave souls putting a toe in the water. >> earnings come out this week that will be a catalyst to buy back in to push it back up. stuart: home on a minute, george. i want to know about the earnings reports. big tech guys come out this week. >> amazon, apple, microsoft, facebook. if you look at the calendar apple goes first. how are the iphones selling? how the services going? how about the air buds that sold. there will be a lot of questions will apple be successful going from hardware to hardware end

services company? that is big question from them. microsoft, amazon is all about the cloud. how are they doing when they face off against each other? facebook, the most interesting of the "fang" stocks, best performing discounting apple. last year the teflon stock. crisis after crisis, pr problem after pr problem. it was still the best performing fang stock, excluding apple, last year. most recently the problem with that whatsapp feature, right, is part of the jeff bezos hacking story. so a lot of people just being reminded, okay, maybe when they communicate, not cite so sure. stuart: yeah. okay. just trying to think of something about microsoft there. >> with azure. stuart: that is the story with the cloud. >> they have been encroaching on amazon's territory and they have been winning business. they won a big business or contract with the u.s. government at amazon's expense. a lot of investors will really

focus how fast that cloud business is growing for microsoft. stuart: george see, it occurs to me if any big tech companies don't come through with a stellar report, blows it out of, if they don't do that, they're in trouble? >> they will get a hit if they don't do that. i would say microsoft's cloud business is incredibly strong and expecting good results there. they are expecting apple to have a good quarter. i expect the bears who want them to disappoint, may be disappointed in the case of those stocks. stuart: you could have people buying those stocks now amazon is at 1832. that is down 150 bucks from where it was couple weeks ago. microsoft is at 161. i sold too early. i sold at 159. that is me. i could see people buying today. >> sure. absolutely if the economy doesn't slow down, they don't disappoint on earnings. they're very viable when they get some back. stuart: what about the other side of the coin?

the market gone straight up for a long time now. everybody thinks you have got to have a pullback, you got to have a pullback. this virus is the excuse to pull back. an excuse for a correction. there is that point of view? >> i think the virus has to get a lot worse for it to be a true pullback. we've given back a couple points. you will have to see a lot more people perishing and before it will get into a economic pullback. cdc in atlanta is one of the great jewels of america. the finest prevention outfit in the entire world and i hope the chinese have the humility to have them come in to help the problem if it gets any worse because the chinese haven't handled it well this morning. stuart: 11:30 is a conference call that could move the market i suspect. >> absolutely. stuart: george see, thank you very much. gig day. completely different subject, a "fox news poll" shows 55% of voters believe the economy is excellent, excellent or good, i believe it is.

55% strong, its highest rating in almost 20 years. and most approve of president's trump handling of the economy. got that. bring in jason chaffetz, fox news contributor. jason, your reaction to this? the polls show, hey, the economy is doing fine? >> the economy is on fire. america is doing well. we're safer overseas. that all bodes well for the president but, again a lot of chatter out there, you know in the beltway about impeachment. but i got to tell you, when you go across the country, people are not talking about it. i recognize democrats want him out of office but i think republicans want him in office. stuart: also in the fox poll, i have to raise this. that fox poll says 50%, i mean, great approval for the economy, but 50% say, get him out of office, remove him. how do you explain that? >> i would reedley like to dive into what are called the cross

tabs of that poll because i don't believe that half of america wants to see him gone. like i said, i think the democrats will do anything, say anything, they demonstrated that, they want him out of office but i think the president is just about as strong politically now as he has ever been. stuart: i need your comment on this book, the bolton book. "the new york times" has a piece of it, a quote from the book and it shows they say, that mr. trump explicitly linked a hold on ukraine aid to an investigation of joe and hunter biden. now that is the new factor in the impeachment story this morning. what do you make of it? >> well, it is just simply not what happened. the money did flow. it flowed before the timeline. there was no, anything that ukraine had to do in order to get it. the president said very clearly, time and time again, i want to make sure that they are cleaning

up corruption in ukraine but when the money does flow, it does do so before the timeline. you know, they can hey, well he wanted to do this, wanted to do that but that is actually not what happened. i have got to believe the president is on the right on this one. stuart: i got to tell you though, senator mitt romney, he says four senators want john bolton to testify, four republicans want john bolton to testify? >> i think the obligation of the united states senate is to hear the case as made by house democrats. they did so. they could have gone after a number of different people. they actually, you know, i believe submitted a subpoena. then when the court said they would hear that they withdrew it because the timeline wasn't going to fit their accelerated timeline they wanted to do. so you know, it is very wrong for the house democrats to say, well, we need these additional witnesses. at the same time they say, we

have this ironclad case. the facts are not in dispute. they can't have it both ways. they tried to but the obligation from the senate is simply to hear what the house has to say. stuart: jason, hold on for a second. i want to alert our audience to couple things coming up. in the next hour president trump welcomes israel's prime minister to the white house. the two leaders will discuss president trump's new middle east peace plan. when that happens you will see it. the president may have some comment which we will bring to you. the coronavirus in china, looks like it is worsening, 81 dead, 2800 cases reported. later this hour we talk to a "wall street journal" reporter who was on the last train out of wuhan before the city was quarantined. we're also wait for that cdc conference call on the virus that is coming up at 11:30 eastern time this morning. that could indeed move the market. plus, we are exactly one week from the iowa caucuses. in my opinion, the democrats are

desperate and divide. there will be no clear winner from iowa. that is all in my take that is coming up. but first, the market, we're down 400 points. so been pretty much that way, down 500 at the open. down 300 a few moments ago. now back to a minus 411 points for the dow. a minus 47 on the s&p and 68 at the, 69 on the nasdaq and the low of the day right at the opening bell was a minus 549 points for the dow industrials. that was the low of the day. so we've come back a bit from there. i want to check beyond meat. it's up on a down day on an expanded partnership. go back to the new york exchange. lawrence, lauren, who are they partnering up with? >> denny's, at 1700 denny's locations. this stock is up 3 1/2% on a

broadly lower day. this has nothing to do with the coronavirus. bank of america increasing, stock at 123 and change. bank of america says it will get to $126 a share. that too is good news for beyond meat. denny's is getting beyond burgers. if you want lunch for free. stuart: thank you, lauren. dow down 407 points, 28,576. now this, prediction, one week from today the iowa caucuses will she no clear winner. that is my prediction. and that will be a big problem for democrats. they need unity and they don't have it. here's what is not widely known. this is a big deal. this time around, democrats changed the caucus rules. for the first time ever, actual voting tallies will be announced

as well as number of delegates that each candidate received. so one candidate could win the popular vote and another the delegate count. it is like the popular vote in the electoral college count. both would claim victory. democrats don't need that. they want a clear winner, a candidate who can beat mr. trump but they can't find one. bernie is a socialist. he is 78 and had a heart attack last year. hillary says nobody likes him. president obama thinks he is unelectable. joe biden is 77. his supporters don't seem wildly enthusiastic, president obama has not endorsed him. he has a you ukraine problem too. doesn't this pave the way for an outsider to emerge like, mike bloomberg? yes, it does but think that through. he too would split the party. he is not the moderate who brings the party together. can you see bernie or warren voters supporting a

multibillionaire? bloomberg is a can it date who so many democrats love to hate, a plutocrat accused of buying elections. there is one thing that brings them together, however, disdain for president trump. but again, think this through. are there enough voters prepared to throw out a president who brought prosperity and take a leap in the dark with "medicare for all," massive tax hikes and a green revolution. do they detest president trump that much? one week from today the democrats take first step in nomination process. iowa won't help them choose. they are split. they are divided. the real winner may actually be donald trump. how about that? let's bring in cabot phillips, my younger friend is the editor-in-chief of campus reform. you heard my take. what do you say? >> i agree. the democrat party needs unity more than ever. the fact is they may be more

divided than they have been in the modern history. they're staring down the barrel of two different guns and neither are appealing. you mentioned disdain some democrat voters have for president trump are. that is disdain matched by the establishment of the democrat party. so many far left progressive candidates hate the democrat party. they think the 2016 was rigged against them. biden becoming nominee, they will stay home view the election having been rigged. at same token if you get a candidate like bernie or elizabeth warren, a lot of moderates or voters in the middle, we don't want to go full socialist and don't like trump but at the same time things are going pretty well. if that happens regardless who the nominee is, president trump is sitting back smiling knowing he will have a divided party going against him at a time he has near record support for the republican party. the party might be more unified than ever. that is bad situation for the democrat party. stuart: one more for you, 2020

democrat candidate, presidential hopeful bernie sanders he was asked about the cost of all of his plans. i want you and our viewers to listen to his answer. roll tape. >> your agenda promised free health care for everybody, free college tuition, and to pay off people's college loans of the price tag for that is estimated to be $60 trillion over 10 years. correct? >> well, look, we have political opponent -- >> you don't know how much your plan costs? >> you don't know. nobody knows. >> you will propose the plan to the american people and not tell them how much it costs? stuart: i leave it at that, propose a plan to the american people and don't know how much it will cost. >> this is what happens when you attend the "harry potter" school of economics and wave a wand and it will be free. he doesn't know how it will be paid for because the price tag of that, 60 trillion plus, is the larger than gdp of every single country on earth combined. there isn't enough money on

planet earth to pay for these things. he doesn't seem to mind. i ask from campus reform how will the staff paid for, just sully college students that can't explain how it will be paid for. the standard-bearer of socialism, i don't know how it will be paid for, no one really does. this shows how flawed the thinking is in this movement. there is truly not enough money on earth to pay for these things. if you convince voters it will be free, so many people sadly don't look into it, they and don't look into these things, jpmorgan, ceo, america's best known banker jamie dimon after he warned socialism will be bad for this country, bernie sanders tweeted this, in kind of in response. he said that's funny. jamie dimon seemed fine with corporate socialism when his bank got, what is it 416 billion-dollar bailout from the american taxpayers. bernie was wrong. it was 25 billion and all the money was paid back with

interest. your thoughts, cabot? >> also important to point out there at the time dimon came out said we don't want the money. please don't give us the money. we're doing just fine t was given anyway. there were two sides. bernie talking about a problem with the bailout. the problem was not capitalism was cronyism. so many problems we got into, and problems bernie and his socialist friends point out are cronyism. people using power and influence to get special benefits from the government. that is not a true free market. so much an irfrom bernie inaccurate in facts they're giving and misplaced placing all the blame of america's problems at feet of capitalism and free markets when reality government intervention and crown anyism caused problems. free market advocates and conserve needs to make a difference between free markets and cronyism. stuart: got to ask you.

do you think michelle obama would bring two sides of democrat party together. >> i think if it could anyone like her, unfazed by any contact. i don't think she will get in. i'm calling it bernie sanders wins big in iowa and wins in new hampshire. i think biden takes south carolina and i think we're in a long fight for the democratic party. stuart: you will love every moment of it. thank you. an important day, appreciate it. >> thank you. stuart: a number of republican senators are upset at the house impeachment manager adam schiff read anonymous quote warning republicans to vote with trump or end up with their quote, head on a pike. ashley: what? stuart: jason chafe get still with us. your comment on that in just a moment. in our next hour president trump welcome as israel's prime minister to the white house. the new leaders will discuss a new peace plan. what it happens you will see it happen right here. ♪. whether you're out here on lte

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stuart: i made a mistake. i suggested the market stablized with a minus 400 points. that is where we are, minus 425. we're at 28,500. we've come down. now listen to what senators said after house impeachment manager adam schiff says their heads would be on a pike if they voted against president trump. roll that tape. >> more visual than needed but i understand, other than there will be things said. i'm sure things said today that will upset democrats. >> that is completely, totally false. all of us were shaking our heads, where in the world did that story come from. adam schiff kept saying it over

and over again as if it is true. i was visibly upset with it. the whole room was upset on our side saying that is insulting and demeaning to say somehow we live in fear and that the president threatened us to put our head on a pike. i don't understand where even comes with that. stuart: jason chaffetz still with us. what got to most people, visual image, head on a pike, for heaven's sake. >> goes to heart what i saw. i spent eight 1/2 years in congress. i got to work with adam schiff and jerry nadler from time to time. this is the their method of operation. this is why house republicans are frustrated with adam schiff conducts piece. he takes uncorroborated piece of so-called evidence and blows it up if it is a fact. when you have somebody decent and honorable as james lankford, senator from oklahoma, you can't lecture the united states senate how they live in fear and expect to be gaining points. they're trying to win the hearts

and minds of the jury and they're doing quite the opposite. stuart: nonetheless it does look to me if this impeachment trial is going to drag on for a period of weeks, not just a few days. what say you? >> well, i hope those four or five senators get their heads screwed on right because i don't think there is any obligation, regardless of which party or how they're doing it, to have to expand above and beyond what the house was able to find. i just don't believe it warrants it. i don't think there is the evidence to do it. i think if the house wanted to go and talk to additional witnesses they had plenty of time and they had plenty of methods and they could have gone to the courts to enforce their subpoenas. but they chose not to do that. i think it would be a shame for the country, for our economy, because you have a couple of senators who buy into the adam schiff lies. stuart: jason chaffetz. thank you very much for joining us. i'm sure you and i will be following this impeachment thing for some time to come.

jason, thank you very much, sir. appreciate it. >> thanks, stuart. stuart: get back to the virus. it is not contained. 81 people dead, 2800 cases and, cases have spread to 12 countries around the world. next, we'll go straight to china. we'll speak to a reporter who is on the last train out of wuhan, which was the, still is the epicenter of the virus. in our next hour, very important update from the cdc. they will update what they found about this virus that could move the market. we'll be back. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about.

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stuart: okay. if i say we come back a bit we have but not much. we're down 350 now for the does industrials. 28,600. by the way we are just learning that the in the chinese capital

beijing they're reporting the first death from the coronavirus, first death reported now in beijing, china. there are actually some winners in all of this. meridian bioscience, for example, they're developing screening tests for this virus. they're up 24%. here is another winner. alpha protect. why are they up so much? that is 22% up. why? they make the face masks that you see everybody wearing. they are abig with does all across asia these days. everybody has the mask. dr. marc siegel, fox news medical contributor. welcome to the show. we need you to today. look, it seems the biggest problem is you can pass this along, you can be a carrier and pass it to somebody else, even though you yourself show no symptoms whatsoever and that is a huge problem for containing it, right? >> stuart, i agree with that and

the last time we had one of those coronaviruses discussing a worldwide problem, sars in 2002, it was extremely studied afterwards, found it wasn't contagious when you didn't have symptoms. in this case we're talking week or two, you could be carrying this, travel across borders, travel to different countries you could have it, not know it for a week or two. yes, there is some evidence it is contagious during that period of time. that makes it much harder to contain especially in a country like china, by the way, which went from vastly underacting and to overreacting cordoning off entire cities. stuart: i could see you come in on a plane. you land in at one of five airports they're looking to screen people. walking down the jet way. you got sniffles, got a cough, you will get pulled aside. apparently someone perfectly healthy walks straight through, they're carrying it, you don't know it. this is a real problem. is there any sign that they're

containing this thing at all? >> by the way, stuart to your point you just made, you could have sniffles and fever, fatigue, and chances are way, way higher that you actually have the flu. they will pull you aside, 20 million flu cases in the united states. you may have the flu. in terms of your other question of containing it, i'm much more confident in our own hospitals and local health authorities and centers for discontrol and measels outbreak and how they mishandled ebola, they're putting people aside, isolating them. they're doing much better here. they only have five cases so far. if we have vast inpouring of cases from china, it will be almost impossible to contain. we don't have a vaccine yet. one is in the works. i talked to nih about this. they will start clinical trials in a few months but that is still years away. stuart: can i ask you, in one hour the cdc hold as conference call on the virus. do you have any idea what they

may say? >> i think they will say what they're saying now, the containment has to occur mostly in china. china is looking at number of cases carefully. i'm shocked the world health organization has not called this a public emergency. that is disgrace. the charge of communicable diseases is on the chinese public health authority. the cdc needs boots on the ground in china. that is what they have started to do. that is way to get control of it. when you quarantine entire cities, stuart, people get scared. they spread it any way. stuart: dr. marc siegel, thank you. >> thanks, stuart. stuart: staying on the virus, 28 cases confirmed, just in china? sean lee, "wall street journal" reporter joining us on the phone.

she was on the last chain out of wuhan but, are you now locked up in a hotel in quarantine, are you? >> yes. hi, yes, i am stuck in a hotel in quarantine in a city about 200 miles northwest of wuhan. we were trying to get back to wuhan, now we're, basically stuck. the city is under lockdown. doesn't appear we can get out anytime soon. stuart: describe the scene for us when you left the city of wuhan. what was it like? >> it was surreal. the news came out. i was won't up3:00 a.m. in the morning by my editor. i rushed to the railway station. at that point not many people knew it was happening because the news came out of the middle of the night. couple hours before the 10:00 a.m. lockdown, people started lining up and trying to by tickets. people were starting to panic.

because, there weren't that many tickets left. they were starting to sell out. they started bringing police vans in. several dozen police at the railway station. they started turning people away who had tickets for departure time after 10:00 a.m. it was kind of a surreal scene. a lot of people didn't realize that the lockdown was happening. then they woke up to the news and they didn't know what to do. several people were at the train station kind of lost. stuart: do you know if the local chinese media is reporting the full story? would you be in any way of critical of local news outlets in china about this virus? >> the local chinese news media have actually unusually been reporting the last few days about the seriousness of the virus, and how the situation is deteriorating. i think because, there is a lot of public anger about how city officials in would you hand --

wuhan handled it and they may have have basically no choice but to report it. they also said we believe the leadership, president xi xinping, stepping in to handle it, you know the situation will be in hand. stuart: before you leave us, can i just ask you, if you're on lockdown in a hotel 200 miles away from wuhan, can you describe the situation outside the hotel where you are? are people on the street? is everyone wearing a mask? is it deserted, what is going on? >> there are not that many cars or people on the street. everyone is sort of sheltering in place. a lot of people are afraid to leave. i don't know about -- at least in wuhan, other areas we've been, people are afraid to leave because they can't find face masks anymore. they don't want to leave the house essentially. we'll see what happens after

lunar new year is over, when people have to go back to work, what happens then. stuart: shan li, reporter for "the wall street journal." last train out of wuhan, she was on it and described it for us. we appreciate that. thank you very much for joining us. appreciate it. thank you. want to go to straight to lauren simonetti at the new york exchange. tell us about major restaurant closures in china? >> mcdonald's closed all its restaurants in wuhan, the epicenter of the virus and it has 2700 franchises across the nation. for ones that are open, they're checking workers and giving hand sanitizer to guests. mcdonald's is worried as is starbucks. some of their stores in china are closing. yum! brands gets 45% of its earnings in china this is kfc and pizza hut. those stores, the kfcs and pizza huts in the wuhan area are

closing as well, stuart. stuart: lauren simonetti at the exchange. thank you. in our next hour, president trump welcomes israel's prime minister to the white house of the two leaders will discuss president trump's new middle east peace plan. you will see it happening and see it right here. president trump broke his record of most tweets in a day. looks like he is creating his own news feed, doesn't it. looks like it. media watcher how warred kurtz will break that down for us. we'll be right back. ♪. apps are used everywhere...

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stuart: it was last wednesday, president trump broke his record of the most tweets in a single day. on your screen, 141 tweets. that was by 6:00 p.m. eastern time. i think we need howard kurtz on

this. he is "mediabuzz" host on fox news channel and he joins us now. the president has created his own news service, you think? >> when you're tweeting more than 100 times a day to 68 million followers, it is like having your own tv channel. i will give you quick examples. after "new york times" broke the news about the john bolton soon to be published manuscript. after midnight the president went on twitter. i never told john bolton the aid to ukraine was tied to the investigation into democrats. if john bolton said this, he did it to sell a book. president tweeting, shifty adam schiff corrupt politician. he has not paid the price yet for what he has done to our country. i asked white house press secretary stephanie grisham if at that was a threat. she said no. he has a way of pushing the comments. stuart: he is 72 years old, he is firing up the twitter account

since day one of his candidacy and yet he seems to handle technology, and use it, much better than people half his age in the political arena. and that is a surprise to me because i'm almost the same age as the president and i don't handle technology very well at all. >> you know it's funny because for one thing he is kind of tireless, stephanie grike sham was telling me, she was getting tired with the long hours of davos where the president apparently was not. secondly he has this sort of instinct. when he was in new york he communicated through the tabloids. now in the age of twitter he knows how to make a adapt liesing. sometimes he goes a little too far, but that too gets the media reaction. i follow a lot of politicians on twitter. most are pretty boring so they don't get much of the media megaphone iaea effect. stuart: bottom line you think president's use of twitter account is effective? >> i they have sometimes he can be his own worst enemy. by and large i think it is very

effective, getting his message out and counterpunching as in the breaking news about bolton. stuart: does he have any competitor? does any other politician use twitter effectively? >> only celebrities who have 100 million followers are anywhere near donald trump's league. stuart: do you get paid by twitter, if you got 68 million followers, do you get income out of that. >> many journalists distribute their wares, but you don't make much money. people would look askance donald trump reaping any economic benefit. stuart: i was thinking maybe i should get a twitter account. >> let me know when that happens. stuart: no. highly unlikely. highly unlikely. howard, thanks for joining us. we always appreciate it. >> good to see you. stuart: back to the markets. we're still down 400 point. let me remind you in about an hour, 45 minutes, cdc conference call on the virus and that could move this market. next, cruise lines, and

travel operators they're suspending china trips. got who are on that please? deirdre: royal caribbean is most aggressive the world's largest cruise line. they out right canceled a february 27th sail from japan. carnival cruise lines, norwegian cruise lines, they will for the moment not accept passengers from wuhan. but they are screening. if you have a temperature of 100.4 or more they send you back. they understand you paid your money. we will find you accomodations later in the date. stuart: cruise ship, very contained. >> look at the norovirus we know what that can do to a cruise ship. deirdre: deadly undernonemergency circumstances. stuart: carnival is down four 1/2%. entirely understandable. check out this headline.

it is from "the wall street journal" quote, china's censorship helps spread the virus. are they blaming the state controlled media? ashley: they said it could be. consider the spanish flu back in 1918, it was censorship of the reporting of that because it was bad for morale during the first worldwide. 50 million people were killed by the spanish flu. they said quote, if this develops into a catastrophe, the cult of personality around mr. xi and communist regime's effort to control information will deserve much of the blame. stuart: well, if you have one man who has an enormous amount of power, you're concentrating power in that one hand, you're concentrating responsibility in that one person. >> with so much concentrated power in beijing, everyone outside is frightened to do anything without getting permission from beijing. deirdre: the mayor of wuhan said as much. i have would have put this on

the front page but i have to wait for the centralized government to approve what is printed. ashley: three weeks of the first case before it was reported on the front page of the wuhan newspaper. deirdre: that is very wife. -- brave. ashley: he was getting killed in social media, lack of expertise in handling this. he said, whoa, wait a minute. i offered to resign but look at beijing. they take forever to approve anything. deirdre: he also said as many as five million people in that three week lag time left wuhan without knowing, for example, this was before the travel restrictions were issued. stuart: we'll get an update on this later but thank you. president trump welcomes israel's prime minister to the white house. that is coming up in a few minutes. they're talking a new middle east peace plan. we'll talk to a former cia

director at the -- daniel hoffman. where are we going with this new peace plan? we'll be right back. ♪. nd the numbers to examine investment opportunities firsthand, like biotech. because your investments deserve the full story. t. rowe price invest with confidence.

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stuart: still down 400 points for the dow. that is down 1 1/2%. still down 50 on the s&p. 1 1/2%. still down 76 on the nasdaq, 1.8%. down day. iran's foreign minister says, iran is willing to negotiate with the u.s. that's news to me, deirdre? deirdre: the it is news. the gentleman told a magazine in germany, he would never rule out a possibility that people will change their approach and recognize the reality. essentially he is saying the u.s. is the one who left the negotiating table. we are the ones who left, not the iranians. this comes as a surprise to many after the trump administration okayed the killing obviously of one of their top military leaders. stuart: what's this? saudi arabia's foreign minister says israelis are not welcome? welcome where? deirdre: exactly right in response to something israel said would allow citizens to visit, saudi citizens to visit under certain circumstances.

the saudi foreign minister countered and said basically israelis are unwelcome. stuart: got it. israel's prime minister is visiting white house moments from now, discussing the new peace plan. cia officer daniel hoffman is with us now. do you have any idea what is in this peace plan? >> reportedly the peace plan includes $50 billion worth of investment for the palestinian territories but one thing i would just caution everyone it is not -- middle east peace plan is a bit of a misnomer. this is about peace between the israel and the palestinians. when you look at middle east writ large, it is petri dish of poor governance, endemic corruption and a hot war within the region among the different countries. there is a sunni-shia war between iran and saudi arabia and conflict within the sunni world. some countries like saudi arabia competing with others like, like qatar and turkey over support

for muslim brotherhood. so all, the challenges we face in the middle east writ large really impact on the potential for success with that piece of the peace process that this administration, the trump administration is trying to manage between israel and the palestinians. stuart: what do you think of the chances of success and where is the 50 billion coming from? >> well, i'm not that sanguine about the success because if you look at the palestinian side, you have hamas terrorists in the gaza strip who are known for digging tunnels and mounting kinetic attacks against israel across the border. then you have the palestinian authority in the west bank known for endemic corruption. they're not happy that the trump administration recognized jerusalem as israel's capital or that the trump administration supports israeli settlements in the west bank. i think that the question is whether the money that will be provided, some which is coming from the region might help

change the view of the some of disaffected population which is, palestinians are not happy with their own leadership both in gaza and in the west bank. stuart: real fast, daniel, why is netanyahu going to the white house? is this so president trump can offer him political support because he is in trouble back home? >> there is a benefit to netanyahu and his rival, benny gantz, former head of defense forces from internal point in israel. president trump is extremely popular in israel. i think they may get a bump with israeli elections occurring in a month's time. stuart: got it. daniel hoffman, cia guy. hope you don't mind me calling you that? >> sure don't. stuart: daniel hoffman. thanks for being with us. >> thanks. stuart: as we said a few moments ago, we've been saying all morning, israel's prime minister goes to the white house moments from now. they will host a bilateral

meeting about the peace plan. any headlines you will get them fast. next hour the cdc will give up an update on that virus. we'll monitor it for you. the markets are still down. stay with us. we're down 46points now. the news is many could thick and fast. -- 468 points. ♪. most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences.

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more than 2700 confirmed cases are reported and that's just in china. 30 minutes from now, the cdc provides an update on the virus. we will bring it to you as fast as we get it. that will be around 11:30 this morning, could move the market. the president is weighing in, as they say, on this situation. he says this. we are very -- we are in very close communication with china concerning the virus. very few cases reported in usa but strongly on watch. we have offered china and president xi any help that is necessary. our experts are extraordinary. right now, the president is hosting israel's prime minister at the white house. he's expected to release details of the peace plan to israeli leaders this week. fox news reporting an air force communications plane has crashed in eastern afghanistan monday with quote, less than five on board. that's what a u.s. official tells fox news.

it's not immediately clear if there are any survivors and officials say there are no indications that the plane which is a bombardier e-11a was shot down. it may have had some impact on the market. i notice we took a modest leg down when that news was revealed just a couple minutes ago. now we are down 428, 28,500 is where the dow is right now. james carafano with us, heritage foundation guy. james, this is a $50 billion middle east peace plan, israel/palestinian plan. $50 billion going in there. the palestinians are having none of it. mahmoud abbas is not going to be there. he's not being involved in this. doesn't sound like there's much chance of success on this thing. >> three reasons why the u.s. government is doing this and why it makes perfect sense. one is, this is a plan that's really designed to bypass the islamic jihad and go to the

palestinian people and say look, guys, your life sucks, you could have a much better life if you throw these yahoos out and partner with the israelis in a real economy in a real country. that coupled with pressuring on the iranians and breaking their stranglehold and influence creates a potential at some point down the line this might create momentum. that's one. the second is you want to bring together the entire middle east to focus on iran. solving the palestinian peace process doesn't do that, but demonstrating that you are engaged in the region and are a serious player in doing that, that buys you street cred with all the others and i think third, it plays here at home. the president is putting a serious plan on the table. he's looking like a statesman. he's looking at the future of israel and the region. i think domestically it plays well. stuart: just stay there for a second. i have to deal with a lot of other stuff coming down the pike. first of all, our money. markets taking a hit. we are down now still 414

points. this is because of the virus which has not yet been contained. we have word of new cases in america, one in california, another in arizona. the total is now five in the united states. elizabeth macdonald with us now, "evening edit" host. this is not contained. i suspect the news on the virus will become more negative as we go through. liz: i think you're right. you are infectious with this coronavirus without even knowing it. the incubation period is two weeks or so, then -- so in other words, you will likely see cases, the number of cases rise. we are also, in terms of the hit, that's the global hit, there are about 500 manufacturing facilities in wuhan province. pepsico, j & j, so they are in provinces where the epicenter of

the outbreak is taking place. also where we see going to -- migrating to other parts in asia, that's where the supply chains are, that's where -- oil is already in a glut, oil went down 20% during the sars virus. you could see as we have been talking with our experts on "the evening edit" many microrecessions as china takes a downturn to handle this. china has a lot of debt in those cities. is this a black swan event? you know what i mean? this is the fallout right now happening now. stuart: the great unknown, well, there's lots of unknowns, how long does it last for, can it be -- but the great unknown as far as our money is concerned is how much it slows china's economy. liz: exactly. stuart: that's it. liz: exactly. in other words, china takes the hit, the global economy takes the hit. you could see china growth down maybe one percentage point, two percentage points. it already was slowing down. we are coming off a good news period, right.

we've got manufacturing rebounding, trade deals coming forward, pretty solid s&p 500 earnings season, up 9% year over year, quarter to quarter, year over year, then this is coming in. so china can have to take a slight slowdown to contain this outbreak and then pop up later in the year. stuart: hold on a second. i've got james carafano, foreign affairs expert, with me still. james, it looks to me like the authority of xi jinping, beijing authorities, under pressure at the moment because they've got to deal with this, got to contain it, and got to be open and overt. for example, do you believe all that's coming out of china and their coverage of this virus? >> first thing i would say is buy. i think in the end, this is actually going to be good for the west, good for markets, but they did a horrible job on sars. they are doing better than they did on sars. this isn't saying much. they pretty much bungled this so far. in terms of hurting the chinese

brand, hong kong, the way they responded to taiwan, the other complaints, this does not help xi. it doesn't help the chinese. but here's the tipping point from a perspective, when -- if you see cases in other countries, people not getting sicker in china but people just getting sick who never went anywhere near china, then you would start to worry. right now, we are seeing isolated cases of people who have been directly exposed there. so the global health issue i think is going to -- is just mostly fear. that will play out. on the markets, look, people are going to shift their supply chains. people are going to move around and that will actually, anyway, show the resilience of the market. in terms of people doing business in china, it's just more red flags about the dangers of doing business in china. yeah, maybe bad for the markets today but you could see since the global economy in the u.s. is doing so well, you could see where in the long term, this might actually be okay for us. stuart: let me switch gears and go to the stock market now. lauren simonetti is there

watching luckin coffee and starbucks. they both have big operations in china. lauren: absolutely. luckin is the starbucks of china, if you will. starbucks obviously has many stores, thousands of stores in china. luckin has 4200. but look at this decline. luckin is down 7.5% because of these fears that if you go outside, if you are in contact with other people, you could contract this deadly virus. so we are seeing the trickle-down effect throughout many of the food stores and restaurant sector today. stuart: the store that you are talking about here is very important, because of the overall strength of the chinese economy. if you got all these fast food outlets, all these restaurants, all these travel companies, really slowing things down, you're going to have a slowdown in china's economy. of course, we can't quantify it but i suspect that is the big reason why our market is down so much.

because it's going to take a chunk out of china, right? lauren: yeah. everybody is, you know, paralleling back in 2003 with the sars virus and how long or short, however you look at it, took about two months for many of these companies to recover, but this is 17 years later and china is such a bigger economy now than it was then. so when you look at disney closing its shanghai theme park and you look at mcdonald's and yum brands, which does so much business in china, and them closing stores, yeah, it will have an effect on the global economy, at least temporarily. stuart: lauren, thank you very much indeed. james carafano, thanks also for joining us this morning on a big day. appreciate it, both of you. we are, can you believe this, we are one week away from the iowa caucuses. joe biden, elizabeth warren, picking up some endorsements from local newspapers. but you know, it's bernie sanders who is surging in the polls. should his bid for the white house be taken more seriously? i suspect yes. he's got the support. even democrats in the media

admitting that president trump's legal team made a compelling argument against impeachment. watch this. >> i thought the president's lawyers did as effective a job as possible in presenting their client's case. >> i just think, you know, the republicans are winning here. the president is winning here. stuart: whoa. amazing. it didn't stop there, by the way. we've got more reaction from the media up next. and a look at the white house. the president is hosting israel's leader as we speak. if he speaks, mr. trump goes to the camera and speaks about anything, you will know it. we'll be right back. ♪

stuart: check those markets. it's still a selloff. we have been pretty consistently down 400 points since the

opening of the market this morning. it's the virus that's doing it. look at disney. they are down, they have temporarily closed disneyland shanghai thaand their theme parn hong kong. disney back to $136, down 2.5%. how about alibaba? we often call them china's amazon. they are down $9, 4.5%, $204 on alibaba. let's get to impeachment. president trump's legal team continues their defense today. senate democrats are renewing their push for more witnesses, specifically they want john bolton to testify. that's after this headline crossed on the "new york times." quote, trump tied ukraine aid to inquiries he sought, bolton book says. david avela with us now, go pac chair. i have to tell that mitt romney says there are four republicans in the senate who will want witnesses. sounds like you're going to have to have witnesses here.

>> well, let's keep in mind the u.s. senate is the only place in a trial where the jury gets to pick the process and decide whether there's actually witnesses or not. this doesn't happen normally in america. but sometimes, the senate doesn't always work like the rest of america. stuart: you think witnesses will be called, specifically bolton? >> possible. let's say this. if witnesses are called, then president obama and the whistleblower and schiff and vice president biden and hunter biden better clear their schedule. stuart: it's a two-edged sword? if the democrats successfully press for a witness like bolton, the republicans who set the rules can turn around and say okay, hunter biden, come on in, joe biden, come on in. >> we need a full investigation since the house didn't do their job, it may be left to the senate to do a complete investigation. all of that said, while the process may be unclear, the outcome is not in doubt. there are not 20 republicans

willing to convict the president on these charges that the u.s. house has made so despite the show that we are going to see for the next couple weeks, the outcome is not going to change. stuart: i agree entirely. he's not going to be thrown out of office and the republicans are not going to change and vote to throw him out, but the democrats could slime him in conjunction with the media, they will have two weeks to do this and they will do it. >> you heard it yesterday with the democratic senator from hawaii, who said this is not only about the 2016 election but about the 2020 election. and this in addition to trying to hurt president trump, it is also an effort to put moderate republicans, whether that be susan collins or cory gardner on record in casting votes that might cause them problems with independent voters. for the democrats it's all about the election. stuart: the president's defense team, even some democrats and some in the media say that that defense team did okay. just watch this for a minute. roll it.

>> i thought the president's lawyers did as effective a job as possible in presenting their client's case. their tone was good, it was respectful. >> i just think, you know, the republicans are winning here. the president is winning here. stuart: he said the republicans are winning here, the president's winning here. that was the other day. today is monday and they've got the bolton book quote to go at. >> and the president's team has two days to respond and present the facts as they are, and the case that they are going to make, so two days, to the extent that the president's team gets to respond to this, they have two days to do it, they were effective on sunday, i have reason to believe they will be just as effective today and tomorrow. stuart: at the end of the day, couple weeks' time, the president will stay in office. >> that's right. they don't need to say anything else. let's go to a vote. stuart: david, thanks for joining us. we appreciate it as always. got it. let's get back to the virus.

deirdre, affecting cruise lines? deirdre: royal caribbean, the most aggressive. this is the world's largest cruise line, canceled a january 27th sail from shanghai to japan. carnival cruise line, norwegian cruise line, they are also basically screening passengers, they are willing to work with people if they want to postpone their trips. by the way, airlines, hotels and travel operators, i went through just a list of them, most are willing to waive change and cancellation fees. not going to say all, but most are trying to work with people. stuart: thank you, deirdre. china has extended that lunar new year celebration. this is an attempt i guess to contain the virus. ashley: to keep people at home. they don't want people traveling so they are pushing it back from the end of the new year from thursday to sunday but some cities, shanghai, have pushed it back another week beyond then to february 9th. right now we have 17 cities under lockdown in china. that's more than 50 million people, by far the most

far-reaching control measures that's ever been imposed. the question now being asked is, has the horse already bolted. we know the incubation period is 10 to 14 days where you show absolutely no symptoms but you can pass it on. we continue to watch the number of cases go up and unfortunately, the number of deaths. deirdre: the five million people who had left wuhan in a three-week period before the health crisis was alerted. stuart: not good news. that one, for sure. in a couple of hours, the president's defense team resumes arguments on capitol hill. as we said, even some democrats in the media admitted they made a compelling case this weekend. again, watch this. >> there can't be a threat without the person knowing he's being threatened. there can't be a quid pro quo without the quo. stuart: they are shifting the democrats' impeachment focus and putting the spotlight back on the whistleblower. joe biden, elizabeth warren

getting major iowa endorsements but it's bernie sanders who is surging in the polls. we have to take him seriously. we will. we will debate it, too, in a moment. look at the white house. the president meets netanyahu as we speak. if he says anything, you will hear it here. we always promise that. we always deliver, too. ♪ we're carvana, the company who invented

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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: can you believe this, we are exactly one week to the iowa caucuses? bernie sanders leads in the polls for iowa, but elizabeth warren and joe biden got some endorsements. ashley: des moines register in iowa endorsing elizabeth warren, saying she will push an unequal america in the right direction. they say many of her ideas are not radical, they are right. i don't mean politically. they are just plain right, says the des moines register. now let's have a look at the sioux city journal. this is their opinion on biden, saying that he represents the best choice in the iowa caucuses, he proves a greater depth and breadth of knowledge on issues over his 40 years in elected office. why don't we have a quick look

at the polls. this is a fox poll. the democratic nominee preference right now, biden standing at 26%, that is down from 30% last month, sanders at -- take my word for it because we don't have it -- sanders 23%, up from 20%, warren is up just 1%, 14%. biden at 26%, sanders at 23%, warren at 14%. that is the latest fox poll. stuart: that's iowa. ashley: iowa. stuart: got it. all right. i've got a headline from the "new york times" for you. a major fear for democrats. will the party come together by november. here's a quote from that article. even the goal of defeating president trump isn't enough for some voters to commit to backing the eventual democrat nominee, expressing clear aversion to a candidate who is either too liberal or too centrist for their tastes. that's the "new york times." deirdre: it is the "new york times." very surprising. it is an admission and i will bring you one further line from

that article. the big tent constituency is so unwieldy that there is no clear frontrunner and they go on to do reporting from sources who say i am a republican, i don't want to vote for the president again, but all of the candidates are too left for me. stuart: okay. they're split. deirdre: they are. stuart: i mean, how would you get a democrat, a left wing democrat, to vote for bloomberg? deirdre: i think -- stuart: in the election? deirdre: i think the pundits tell us as well, democrats, it's a democracy but if democrats have low turnout for sure that part of the ticket will lose. stuart: interesting. here's an item on bloomberg. he's going after president trump ahead of his meeting with israel's leaders today. he slams the president, he claims he wouldn't wait three years to release a mideast peace plan. good story. we are on it. live look at the white house. we are waiting for the president to hold that press conference with netanyahu. we will bring it to you as soon as possible, of course. in a few moments, though, perhaps more importantly for the

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stuart: president trump and israel's prime minister meeting at the white house. i've got a headline from that meeting. the president says he has not seen a manuscript of john bolton's book. it was an excerpt from it which is prompting the democrats to say we've got to have bolton testify at the impeachment trial. the president also says he plans to announce the middle east peace plan at noon eastern tomorrow. also happening right now, the cdc giving a phone briefing on the virus and what the administration's doing about it. we are listening in and will bring you the headlines once we get them, and watch the market, of course. as that's happening, mike bloomberg is taking on the president about israel. what's he saying? deirdre: i'm going to let you hear from his mouth directly. here he is from a jewish-american supporters meeting in florida. >> it is with a personal attachment to israel that i say

as president, i will always have israel's back. i will never impose conditions on our military aid, including missile defense, no matter who is prime minister. i will not wait three years to release an israeli-palestinian peace plan. i will never walk away from our commitment to guarantee israel's security. deirdre: so you have him taking a few shots there, quite frankly, at president trump. he also made a joke that got a lot of laughs from the audience saying he's the only jewish candidate not trying to turn the u.s. into a kibbutz. as we know, that's a jewish farming co-op. that was a slight at senator sanders. stuart: we'll take it. thanks, deirdre. back to your money. look at the markets. we are in the middle of a big selloff. the dow is now down still 1.5%. it's been consistent for most of the morning, down 1.5%. the s&p down 1.5%, same thing.

a bit stronger loss on the nasdaq, down 1.8%. down across the board. an even bigger week coming up, by the way. big day today, big week coming up. for a start, big tech reports earnin earnings, apple tomorrow, facebook, tesla, microsoft on wednesday, amazon thursday. david nicholas joins us, nicholas wealth management president. david, i've got to say i'm a little worried that if any of these big tech stocks, and they don't report absolutely stellar earnings, they will come down sharply. what do you say? >> you know, i think it doesn't have to be stellar. i would love for them to be stellar but i think as long as they're good, we will be okay. good earnings really have been supporting the market. when we have low interest rates the way we do currently, investors are still buying stocks. i don't think we need to have blowout earnings. but a company like apple, i tend to agree with you there.

stock's up over 100%. we need to see some real growth really in their wearables and airpods. i don't think in the iphone sales is where we will see growth. i just think as long as the earnings are good, markets are going to be okay and it could get us out of the malaise we see today. stuart: okay, but there's a possibility here that in the absence of good earnings, this market goes south because of big tech. there is that possibility. i'm very aware of it. >> absolutely. yeah. we got to have good earnings. valuations matter. we've got to have good valuations that come out this week. when we are trading at 18 times earnings, you got to have that being supported by earnings. if that's not there, yeah, that with what we are seeing in the markets today could be a pretty ugly couple weeks for the market. stuart: hold on a second, i want to go to lauren simonetti at the exchange. you've got some more industries really taking a hit because of the virus. go through them for us. lauren: yeah. so we will start with a positive. that's clorox, the disinfectant. you hear of these germs

spreading, you want to clean everything up. clorox up about 2% today. that's good news there. take a look at the luxury sector. china is responsible for approximately a third of global luxury sales. when you hear a number that big and you couple that with the hong kong protests that have hit some of these companies' sales, you see lvmh is down 3%. tiffany is down just a little bit. hermes down almost 5%. the list goes on. two more names for you. nike and estee lauder. credit suisse says in the next quarter in this coronavirus continues to threaten the global economy, they will take a hit to earnings of 3% to 5%. back to you. stuart: ouch. all right. got it. thanks, lauren. back to you, david. i've got to get your take on this virus. do you think it's a black swan event? >> this is absolutely what we would define as a black swan event. we really haven't had this priced in. again, we are trading at 18 times earnings. the market is somewhat priced

for perfection so when you have these things that come out of what we call left field here, the market has to justify this somehow, and when you look at something like what we call more of a contagion effect or nesting effect, if individuals in china stop going out to public places, if they stop spending at retailers, that is absolutely going to be priced in to balance sheets and cash flow. so retailers need to be concerned here. we don't really know how far this is going to go but i think the way it looks right now, this is going to be a pretty brutal run for retailers short term. stuart: as you know, the cdc is holding this conference call discussing what's going on with the virus, the latest from their point of view. they have just said there's been no new virus cases in the united states overnight. the number still stands at five cases in the united states. that news is out, it's not made much difference to the market at this point. we are still down 400. david, i've got to just ask you about what i see as a contradiction in the polls.

there's a fox news poll that shows president trump getting enormous support for his performance on the economy, 55%. but in precisely the same poll, a majority, just over 50%, want to throw him out of office. that's something i don't understand. a great economy and the people want to throw him out. can you make head or tails of this? >> i'm with you, i don't understand it. i actually went and looked at who was polled. that poll actually leaned 9% more towards democrats so i think we have to keep that in context here, that that poll, not saying the poll doesn't matter because it certainly does, but who was polled i think is really telling there and it leaned democrat so i think that's inside of that margin of error. you know, i think it overwhelmingly, republicans don't want to see him impeached. the good economy will help trump in 2020 but i think we shouldn't put as much weight on that particular poll given who was actually polled. stuart: that's a good answer. that really has me wondering, how is it possible that a big

majority thinks the economy is just great and trump did it all for us and then want to throw him out. good explanation, david nicholas. much appreciate it. thank you very much. okay. that was a good explanation, actually. it really was puzzling me. we've still got this downside move. we are still down 436 points. i'm going to repeat what the cdc had to say on their conference call moments ago. no new cases in the united states overnight. now, they are still on the call, it's still going forward. if there are any other headlines we will bring them to you immediately. 110 people still being checked, under investigation, that's in the united states. do they have it, don't they have it. ashley: trying to figure it out. stuart: in 26 states, is that? so there are 110 investigations into people who appear to be ill, 110, in 26 states. no new confirmed cases

overnight. five confirmed cases still. this contagion is not yet under control despite the mighty efforts of the chinese to impose a curfew -- not a curfew, a quarantine on 50 million people. deirdre: stopped the tr transportation coming out of major cities. stuart: i just explained we are waiting for president trump. we have a tape, we are about to get the tape of what he said during his meeting with israel's netanyahu. as we wait, i'm keeping a close eye on that market, because there's no new cases in america, the statement from the cdc, that may have helped the market a little bit. we are now down just 400 points. i'm not going to go overboard on this. it's not the salvation of the market by any means. but it's tempering the loss. dow is down 400. s&p is down 48. nasdaq is down -- ashley: 1.4% on the dow.

keep it in perspective. stuart: okay. we have the tape, president trump and israel's prime minister. listen. >> thank you very much. it's an honor to have prime minister netanyahu, a great friend of mine and a great friend of our country. we've had a tremendous almost three-year relationship. i have known you for many years before that, but this was three years of prime time and we have done a lot for israel and the relationship i think has never been better. we are going to be discussing mideast peace, we are going to be announcing a plan tomorrow at 12:00, and that's a plan that bibi and his opponent, i must say, have to like very much and i can say in terms of bibi, he does and in terms of his opponent, he does, too. i will be meeting with him in a little while. but this is a plan that's very important to peace in the middle east. no matter where i went, they say israel and the palestinians, they have to make peace before you can really have peace in the

middle east, so people have been working on this for many, many years and i think we're relatively close but we have to get other people to agree with it also. i will say many of the arab nations have agreed to it, they like it, they think it's great, they think it's a big start. i think it's a big start, too. i think it's a fantastic thing if we can pull it off. they say it's probably the most difficult deal anywhere and of any kind to make and the business world, when i was back in the business world, when a deal was tough, people would jokingly refer to it as this is tougher than israel and the palestinians getting together, and that's what i've heard all my life, so we'll see what happens. we have something that makes a lot of sense for everybody and we appreciate you being here and mr. prime minister, great job you're doing. >> thank you. >> thank you very much. >> thank you. mr. president, i just want to say two things. first, that the deal of the century is the opportunity of the century and we're not going to pass it by.

we'll talk about that tomorrow. today, i repeat, i just want to say thank you for everything you've done for the state of israel. you've been the greatest friend israel has had in the white house and i think tomorrow, we can continue making history. thank you, mr. president. >> i look forward to it. thank you very much. reporter: mr. president, did you speak to the palestinians about your plan? >> we will be reporting on that tomorrow. it's something they should want, they probably won't want it initially but i think in the end, they will. i think in the end they are going to want it. it's very good for them. in fact, it's overly good to them. so we'll see what happens. now, without them, we don't do the deal and that's okay. they're not living well. as you know, we cut off aid to the palestinians and something i don't like to do but we did that, and we think that there's a very good chance that they're going to want this. i would say they're initial just as great negotiators -- they're great negotiators and their initial response, i have no idea what they are going to say, will

be we don't want anything but in the meantime they'll be negotiating. let's see how it works. so tomorrow at 12:00, we will be announcing a plan and it's a very big plan. it will be a suggestion between israel and the palestinians. it's the closest's the ever come and we will see what happens. we have the support of the prime minister, we have the support of the other parties, and we think we will ultimately have the support of the palestinians but we're going to see and if we do, it will be a tremendous tribute to everybody and if we don't, life goes on. thank you very much, everybody. thank you. stuart: now, that is the end of part one of the tape from the president. there is a part two coming, because the president did actually answer some questions a little bit later than the cutoff point right there. you are going to get that tape as soon as we can get it wrapped up properly, although you don't

rack tapes these days, you press buttons on a computer. we will do it for you, i promise. meanwhile, the dow industrials down 400 points. the cdc, centers for disease control, holding a conference call at the moment on the status of the virus and its impact on america. there are 110 people who are being checked -- ashley: under investigation. stuart: under investigation, do they have the virus or not. that's in america. it's in 26 states. but the cdc says look, no new cases confirmed overnight. the total is still five confirmed cases in the united states. so the dow industrials still on the downside. a loss now of 399 points. houfshgs however, in a sea of red ink, in a sea of stocks going down, i believe there are a couple stocks that are actually going up big-time because of the virus. number one, i believe, can you get this up, please, have we got the face mask company whose name i can't remember? that's not -- okay.

this is meridian bioscience, looking at a screening test for the virus, okay. you talk screening test, the ability to spot people who have got it, that's a winner. they are looking into this, they don't necessarily have a screening test but they are trying to get one. the stock is up 20%. now show me the face mask company. that will be alpha pro tech. if you see any street scenes from somewhere in china, in fact, most of asia right now, you will see the face mask. it has become ubiquitous. it is everywhere. alpha pro tech makes those things. that's why they are up so much. other than that, however, pretty much across the board, on the downside. you are a travel company, you're down. you're an airline, you're down. ashley: cruise company. stuart: cruise company, thank you. you're down. anything else? deirdre: disney, nike, apple, anyone with um kwconsumer expos. the chinese are basically buying food and medicine, probably not buying too many other goods.

stuart: chinese companies like, for example, alibaba, they are way down. back down to -- deirdre: no deliveries. stuart: bottom line here, how bad is this going to be? the answer to that is how much of a bite will it take out of china's economy? they are the second largest economy in the world. if they really slow down, and drop their gdp, the ripple effects go worldwide, we all suffer. that's what we are waiting for. how much of a bite does it take out of china's economy. don't know yet. this is all speculation. that's why the dow is down so much. we are waiting for part two of the president's tape where he answers questions. as we wait, we have a special guest for you. he's the author of a new book. you could say it's a bit of an expose on the biden family. yes, it is. all about how a few of them got rich off joe biden's political exploits. the book is called "profiles in corruption, the abuse of power

by america's progressive elite." the man on the screen is peter sch schweitzer. he wrote this thing. now, i have read brief excerpts of your book. you were kind enough to give it to me. one of the points you make it that joe biden's brother has been -- look, you explain, what's he been doing? >> really, it's the biden five. you have five biden family members who have cashed in. his brother james was involved in a particularly interesting deal. we know that in november of 2010, a guy named kevin justice who set up a construction company in delaware visits joe biden's vice presidential office in the white house. three weeks later, that company announces that james biden, joe biden's brother, is the new executive vice president of this new construction company. now, he has no background in construction and they mention in the biography that one of his main skills is he's very comfortable in the corridors of power. if your brother is vice

president, that's certainly true. but within six months, this new construction company with the vice president's brother on the payroll lands a contract to build 100,000 homes in iraq for $1.5 billion. stuart: i guess it's not illegal but it sure sounds -- it doesn't smell right. >> that's right. that's right. that's what a lot of corruption is, unfortunately. there are certain things that are illegal, if you are smart and corrupt, you do the legal things to get around them. that's what we are dealing with here. stuart: what you've got is an indictment of the whole family, the biden five. >> yes, the biden five. hunter biden, people are familiar with his exploits. james, his other brother frank, who is sort of piggybacking on joe's activities in costa rica as vice president, does an energy deal there and in jamaica even though he has no background in energy. you have a sister valerie who cashed in on joe's presidential campaigns and then you've got a situation with his daughter ashley, whose husband started a new business and joe biden brought him into the oval office

to meet barack obama, then did private briefings for the vestovest investors while he was vice president. stuart: there's a question at the moment whether extra witnesses will be called in the impeachment trial. if an extra witness is called, the republicans could call for joe biden or his brothers and your book will be show prep for the trial. >> i think so. yeah. what's important to point out, we have no anonymous sources. there's all paper trails based on corporate records, foreign documents, et cetera. stuart: sorry to cut it short because it's good stuff. come back any time you like. i have to turn to that camera and introduce the president, who is now answering questions. >> please do. stuart: thank you very much. much obliged to you. here he is, the president. reporter: what's your response to the bolton manuscript and does it increase the chances he could be called to testify? >> i haven't seen a manuscript

but i can tell you nothing was ever said to john bolton but i have not seen a manuscript. i guess he's writing a book. i have not seen it. reporter: mr. president, the prime minister mentioned a plan in the coming six weeks. >> i think he's here for a reason. hopefully that will be yes. peace in the middle east has been long sought for many, many, many years and decades and centuries and this is an opportunity. we'll see what happens. whatever it is, it is. but he's here for a reason. reporter: [ inaudible ]. >> it will be announced tomorrow at 12:00. we will show a plan. it's been worked on by everybody. we will see whether or not it catches hold. if it does, that will be great. if it doesn't, we can live with it, too. i think it might have a chance. reporter: do you expect [ inaudible ]? >> do i expect what? reporter: benny gantz. >> he's coming here today. he will be here also. as you know, they are two big competitors, they are fighting it out.

i have been waiting, this is my third election, we keep waiting and waiting and waiting. let's go. what kind of a system is that? it's a very strange system you have over there. because we have been, we have been talking about this for many months. we keep waiting for the election. so that system has to be looked at. reporter: what about allegations this is interference with internal politics in israel? >> i think what's happening is one of the reasons that mr. gantz is here is for that reason. he's coming, too. so i'm going to speak to him right after this. reporter: what is your message to the residents of sudan at this point? >> may i say something? i think first of all, i'm very honored to be here with you, mr. president. i look forward to making history with you tomorrow and i think we will talk about the plan, i will talk about the plan which is historic. today i just want to say two words. thank you. thank you for everything you have done for israel, everything you have done for israel, for

recognizing jerusalem as israel's capital, for moving your embassy there, for recognizing our sovereignty in the golan heights, for recognizing the heartland of our biblical homeland, for the unprecedented security and intelligence cooperation between our two countries. the things you have done for israel since you have become president is very long but the bottom line is short. you have made our lives stronger than ever and i look forward to the coming years to make it even stronger with a historic defense treaty that will anchor our alliance for generations. one last thing, this is [ inaudible ] and on this day, i'm proud to stand here, prime minister of the one and only jewish state, and thank you for confronting the most anti-semitic regime on the planet. when you came into office, iran was on the march.

because of your leadership, iran is now on the run. we have gone from the dangerous nuclear deal, you slapped on tremendous sanctions, you have two weeks ago, you have taken out the most dangerous terrorist on the planet. all those who seek peace, all those who want to fight terrorism should thank you, mr. president, for your bold decisions and bold actions and on behalf of the state of israel, i want to thank you for everything you've done for israel, for confronting iran and for your extraordinary decisions, your friendship and your leadership. that's the end of my speech. reporter: last time i asked if you were for a two-state solution, are you going to say -- >> you are going to see very quickly. we will release the plan tomorrow at 12:00. you will see for yourself. okay. we will see you inside. stuart: that was a quick ending, was it not? okay, see you tomorrow. pretty good. i think he wanted to talk to the prime minister of israel right

there. peter is still with me. this is the man who wrote "clinton cash." what else was it? >> "secret empires." stuart: and the other? >> "profiles in corruption." stuart: have you ever seen a president like that before? >> no. no. stuart: you ever expect to see another like it? >> i don't think we will. i think he's unique, a product of a generation and also of the media culture. he loves to troll people. stuart: he's got his own news service. his twitter account. >> that's right. that's right. stuart: he fires it up. he had 141 tweets last wednesday. a record for one day. >> remarkable. stuart: he's his own news service. anyway, gop senator josh hawley, talking about what we were talking about before the break there, he is a missouri senator, he wants to call some high profile witnesses to testify on impeachment. he wants the senate to vote on subpoenaing congressman schiff, hunter and joe biden, intelligence inspector general and the ukraine whistleblower. >> yeah. i think we are going to have witnesses. you've got to have a full slate

of witnesses and my belief is one of the crux issues as it relates to the president's phone call with zelensky is, is it a legitimate question to ask for a foreign law enforcement agency to cooperate with the u.s. attorney general on an investigation and the crux of that is, is there something to be concerned about in the biden relationship. i think there is. i mean, it's very very clear, look at the timeline. february of 2014, putin moves into crimea. march of 2014, obama says biden's our point person. within three weeks, hunter biden is on the payroll of burisma. three weeks. no background in ukraine, no background in energy. it's very clear there's a massive conflict of interest here. for critics to kind of just dismiss it and say oh, maybe he shouldn't have done it, it's no big deal, no, this is how corruption occurs. this is what was done. stuart: what was joe biden thinking at the time? did it never occur to him that maybe there's something wrong

here with my son getting a million bucks a year in a business he knows nothing about? >> right. people say well, you know, you can't control your kid, but you can control access. if your son is doing something like that, you should then not be letting them fly on air force two with you, you should note be embracing them. you should send a clear message. previous presidents have in the past. jimmy carter had to do it with billy because billy was off doing stuff, and they were like you can't be doing that, and you can draw that line. joe biden has never drawn that line on any of the five family members who cashed in. stuart: i've got to tell you that senator lindsey graham has just said he wants john bolton to testify. now, that opens up the witnesses that you describe in your book. they might be called because if you get bolton coming in, the republicans can fairly say all right, where's hunter, where's his brother, where's joe biden himself. >> that's exactly right. i think that's what people generally are concluding, if we are going to have witnesses, you've got to have witnesses on both sides.

i think the bidens do not want to go there for a variety of reasons. stuart: if they read your book, they would say no way. >> yeah. and i think, you know, hunter is probably not going to be the best witness. joe, you know, i think on the campaign trail, has not been his sharpest. maybe fatigued, maybe it's age, whatever. but i think either one of them testifying is going to be very very difficult for them to come off convincingly. stuart: if they did testify, know what would happen? >> what? stuart: the ratings would go up because it would be compelling tv viewing for the first time in weeks. it would be compelling. got to watch this thing. >> exactly right, stuart. stuart: peter, you're all right. thank you very much for joining us. much obliged to you. i'm checking the market all the way through now, because we are down still 4 e400 points. no difference made by the cdc conference call. ashley: they say there's no evidence that supports transmission of the coronavirus through imported goods. no questions about that. but they say the cdc says this virus may be somewhat similar to bat coronavirus. which is interesting. that's what they say.

they also, there may be an announcement in the next day or so about travel disruptions. in other words, there may be some travel i'm assuming. we'll wait for that next day or two. stuart: left-hand side of your screen, the vaccine makers all are up again. i seem to remember on friday the vaccine makers were doing really very well. on monday, we're up again for obvious reasons. if you have got this virus spreading out from china, you want to do something about it. ashley: the race is on to find -- that is the key. >> experts say it would take a year to develop a vaccine. stuart: let me take a quick look at oil as well. because the plies of oil came down very sharply because of this virus, because the virus is restricting travel. if you're flying fewer planes and driving fewer cars, demand for oil goes down.

down 3% right now, 57.57% barrel. the bright side to this -- ashley: cheap gas. you got it. takes a while for the price to go down. stuart: longer for it to go down than spring back up again. i have great hopes paying 2.35 a gallon in jersey. ashley: look at you. >> shareholders will not thank you. stuart: frankly some of the frackers, drillers, they're in trouble. ashley: it is not viable for them at this price, or a little lower, not viable for them to produce oil. >> the story before this was oversupply to begin with. stuart: let me remind everybody, we're one week from the iowa caucuses. hard to believe that, isn't it? here we go. the election begins really one week from today. latest polls show bernie sanders leads. elizabeth warren got a key endorsement from the "des moines

register.." joe biden got an endorsement. ashley: another newspaper. stuart: i don't see any clear winner emerging from the iowa caucus. that party is split, big-time split here. >> "new york times" essentially printing an article that essentially states the same. stuart: yes. does bloomberg come through and take it? ashley: you seem to think so. stuart: if he does take the nomination, i just don't see how a left-wing democrat could vote for him. ashley: billionaire? stuart: bernie sanders or elizabeth warren supporting voting for a man worth $54 billion? a great contest. ashley: we'll see. stuart: we have one of mr. bloomberg's campaign advisors on the show tomorrow. i will put it to him. how do you expect socialists to vote for a billionaire, unless they really, really hate mr. trump? ashley: there is that. stuart: this is priceless stuff. we come up to the end of the show. i want to thank everybody for

being on board, again to peter schweizer, fine book, fine book. promise to read you cover to cover. >> thank you. stuart. stuart: i did for the other one, clinton cash." it kept me awake. my time is up. neil cavuto standing by. it is yours. neil: thank you very much, stuart. you guys got into the coronavirus roiling markets the world over. the deadly virus impacted at least 13 prices. oil prices down 3% on this. slackening global demand expected as a result. airline demand responding with tourist sites are closing one by one across the globe, not just in that region. volatility climbing to the highest level since last october. the u.s. has at least five confirmed cases. they're looking into possible others. grady trimble latest from i will knoy where a woman in her '60s has been diagnosed with the virus.