>> something interesting happened in the last few months and weeks. the balance sheet did not grow as quickly since september and what happened there we know the market stagnated. we'll see if we get a message on wednesday to continue to grow. >> there is anxiety in the market gentlemen as i handed over to liz claman. >> thank you as you see with the dow down 407 is lame not just wall street but money centers all over the world. mark is having the worst day of the new year of the reek of the coronavirus stretches well beyond its origin. now at the low, the good news, the dow did drop 549-point, were off that level, s&p 500 looks to make it first 1% move, this is a downside in 72 trading sessions while the nasdaq has hit a four-month low. breaking moments ago, charles meant to do quickly, the state department is now warning travelers not only to avoid the problem with the virus began but

reconsider visiting anywhere in china. change the travel plans is what the state department is recommended. the illness is spreading around the globe, 81 announced in 17 countries including here in the u.s. for five people have caught the virus. business is big and small with the pressure of the travel industry as travelers and fly intended even ground crew and pilots grab masks to try to reduce the chances of becoming infected. we have it all covered, our traders are watching every move of the market in the final hour. and will the u.s. biotech be the first to the finish line in the race to find a vaccine. the ceo of the biotech firm dyadic international is joining us exclusively as his company speed up the process to stop the outbreak. one of the world's most widely followed economist mohammed is here on the real effects of the virus could have on the global

economy. he is here and a fox business exclusive, a call measured very smart voice. i hope you listen. an hour to the closing bell on this monday, but start "the claman countdown" ♪ ♪ and we need to have hear about this, apple is preparing to report earnings, "after the bell" tomorrow but the company is saying a potential problem due to the coronavirus. a stop right now is down to it three quarters percent, it's a big part of why the dow is down, boeing whopping a hundred points off the dow jones industrial. apple iphone component maker box con has announced in the last hour it has not reopened its production site in the changing province and it will not reopen until next monday the breaker. sources are saying the concern is whether migrant workers who

flow into the area to work there will even come back to stop the facility. and we have a potential digital in the tv plus numbers variety has a vast majority of apple tv pluses, 33 million subscribers aren't even paying for it, they get it for free. this is according to an organization that did a study and according to them the challenge for apple will keep the users engaged in an ongoing basis. from big tech to the coronavirus, pretty much affecting the entire travel spectrum. from united to delta to hawaii and holdings, they are all moving down, hawaii and is down five and a third% because chinese travel has slowed to a trickle and all the travel booking spike sites, expedia, booking.com, trip.com deep in the red and then will flip it over the crews line operators. last week credible announced

friday it would not allow anyone from huanggang to board it ships. that stock tank on friday, down 4% today and has a cascading effect on the royal caribbean. it's about down six and two thirds% in norwegian down to and three quarters. j.p. morgan is saying there's a distinct possibility the virus could impact disney earnings and fiscal 2020. and not just because of the closure of disneyland and disney town in shanghai but also the potential disney studio in theater business is my indoor as theaters in china have been close. disney down two and two thirds percent. i want to take a look at casino stocks, they are not escaping the wrath of the virus. mgm resorts and when operate in china and report sourcing the border checkpoints between gambling and mainland china have experienced an 80% drop this past weekend and visitors.

and eating out at restaurants is not in. at the moment we have restaurant stocks dipping, mcdonald's, starbucks have temporary closed doors in huanggang. they also have a chinese side and its why umc and that stock is pollen. look at the chinese coffee chain, it is getting smacked for a second session, down another 8% and it has had to" if you stores. ali baba has ordered all workers across china, hong kong, taiwan and macau to stay home until next monday. that stock is down 4%. same for workers and the automakers that have china operations, neo, tesla, general motors are down at the moment. neo electric car company down more than 11%. under the best of circumstances, this was going to be a particularly busy week. look at the full screen.

we are looking at the most crowded week for fourth-quarter earnings. 14 dow companies are reporting but 140 numbers are coming in for microsoft, boeing, fisa, exxon mobil, caterpillar, hershey, progressive insurance, and apple. let me take it to the trading floors around the nation. we have the great scots, which side of this do you think will grab the attention of investors this week. right now the coronavirus but could earnings take over into control? >> the coronavirus to control late last week and do friday as we saw the case increase which caused the first selloff. we have continuation down and were to an half% off the high in the s&p. i think the potential will come back to their needs tomorrow and i think apple is huge because obviously the big business in china and you want to see what they see on the conference call

about visibility and how you said about fox gon box con if tt produce the comas under components. this might pass over quickly or does it hit it, if you look at apple up 84% last year and on a huge rise. we need to see how it reacts post earnings and then we have to look at amazon for the past two years has been in a range and a lot of people worry whether aws business is slowing and what is the health of the consumer. we will see how that reacts pray the attention will be on earnings and the reaction of the size of the move. you've seen the markets over the past of three and half months let alone the past years. >> amazon is down 1.5%. we know one thing for sure and that's been the pretty much entire energy complex cannot escape the fear from the coronavirus. if you look at oil, it is now below $54 -- now below $53 a

barrel of the aftermarket of 52.99. names like exxon mobil and chevron, i guess the impression that we will see slower growth and slower usage of crude and the rest. >> we have been saying that for a while. we have always said there's too much crude in the world right now and global growth this year although the numbers are up a little bit, it does not match what oil production can be. i think some of the oil coming down is a trade on travel et cetera. but i don't see any reason for oil to rally unless we have news out of the middle east and tension. otherwise there's plenty of oil in the world and i don't see any stocks rallying anytime soon. >> what has brought in the discussion to all the markets in a way, you saw france and germany all down. you begin to wonder where is an

area of where the flows will go at this point. you look at the ten year yield while people are piling into government treasuries and the yield at the moment for the ten year has dropped to about 1.6, 1.607, down eight basis points. give me your sense of how long it takes before investors will wrestle their brains over to the earning sides versus the coronavirus. >> certainly time to refinance mortgages for anybody who is not. we are just absolutely historic close. i think that the focus is actually going to be on the virus for at least the next couple of days. it should be on earnings because that is a week, a month, three months from now, that's what the market will be focused on. if your day trading, people out there day trading micromanaging, they are looking at the virus. retail investors really need to look at the bigger picture and they need to look at the

earnings. you made a great point, what will be important is apple, another big company that may hint at slower growth because of the coronavirus will they get a pass on this and are buyers going to flock back into the marketplace. once hopefully we get this under control. >> you know who might be able to answeanswer that, we have the vy man who understands global economies and how the fear-based selloff might turn into a buying opportunity. coming up on countdown of fox business exclusive mohammed. on whether the coronavirus is just a short-term blip on the radar or potential market and growth. he is coming up in a few minutes. i strongly suggest with the dow down 407 points you stay tuned to hear what he says he's been working on this all we can. coronavirus fears have everyone reaching for the pru out in facemask. as we checked cleaning product

companies procter & gamble, clorox, here is green on the screen. png up wit. the mass makers, we talked about these last week, honeywell and minnesota mining and manufacturing, honeywell down 1% and up 20%. 100 people in the united states are under evaluation for possible infection from the coronavirus. we have at the moment, five confirmed cases, one of which is under highly protected observation at amida health medical center in chicago, illinois where grady trimble has been all day. >> we are told she is in good condition with the cdc just announced the virus is in now 16 countries up from 13. although the cases in the united

states remain the same, five and the united states at the moment and all of the people contracted the virus while traveling in china and did not spread to anybody else upon their return to the united states. the cdc monitoring 110 people who could potentially have the virus. as china works to contain it, president trump is offering the united states support. he said in a tweet, were in very close to munication with china. very fea few cases reported in e u.s. strongly on watch. we have offered china president xi jinping any help necessary. 82 people have died in china as a result of the virus already. there are 3000 cases there. primarily in and around huanggang. that number is expected to rise drastically. people in huanggang are required to stay there under quarantine but as many as 5 million people left quarantines areas before that was put into place. the cdc also hinting there could

be travel restrictions on the horizon although they say the risk of anybody contracting the virus in the united states remains low. i want to turn your attention to one chinese company, china southern airlines, the travel related stocks getting hit hard by this. the airline in china down 7% as a result of fears. >> please keep us posted. dow right now is down 407 points. but the nasdaq is hitting a four-month low from the biggest tech names getting hit hard. with about 47 minutes before the closing bell rings, could the biotech sector becoming to the markets rescue. diagnostic tech, look at the surge of 20% at the best gain in more than 17 years. the company technology now being used in labs in china at this

moment to help develop better screening for the fast spreading virus. this is vaccine makers are kicking into high gear and a search for a medical weapon to combat the deadly outbreak. one of the companies at the forefront of the coronavirus battle is here. dyadic is the name of the company, mark is here with an exclusive inside look at the path his company is taking to stop the deadly virus in its tracks. how close are they. let's find out he is coming up next in the fox business exclusive. don't go away. any comments doug? yeah. only pay for what you need with liberty mutual. only pay for what you need with liberty mutual. con liberty mutual solo pagas lo que necesitas. only pay for what you need... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪

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actually made. dyadic international is working hard to create that combat new diseases and viruses with the help of blue jeans. here to explain that in a fox business exclusive we welcome the founder and ceo of dynamic international, mark emalfarb. you are up 168% for this compa company, i would imagine with a gaining 12% you guys are close to being part of the deliverance of the vaccine. tell us how close you are in with the partners who are trying to isolate the virus. >> first of all were a pop from technology. this is one of many things that can be produced in our pot from. so the coronavirus is in everybody's mind but the epidemics and pandemics for the world facing and will face an

accelerated rate you have to be able to make these things in large volumes and low cost. that's were re-created a cell line after two and half decades of using the industrial biotech space like shell oil, up to 75 million and we took the cell in a couple of years ago and not tweaking it to put in dna to make vaccines in antibodies to keer you and treat, i think that's important aspect. and treating in large volumes and low cost of vaccine. >> and getting up to speed quickly. clearly were not there yet. i don't think they have diagnostic test kits to test and see if people in china have it, let alone who knows what's here. but you are working with other biotechnology companies that are trained isolate the conserved region of this virus that would be the part that does not mutate or change. take it and inserted into cells to make the lie virus. am i correct?

>> correct. >> and antibodies would be treating it in a prevention and treatment. we are working with companies which is the largest producer of vaccine on the plana by volume and it makes 60% of all children in the world have been vaccinated at one point or rather by a serum which is the largest pharmaceutical company, so no become a in and to loophole biological research with disease and threat. >> let me run it here. we know that the stars virus in the outbreak that killed hundreds and hundreds of people was 17 years ago and they still don't have a vaccine for that. how quickly can we get this up and running. >> the technology will change dramatically. biotech is made things happen so much quicker. in many ways chinese government in labs in u.s. labs, biotech companies, they are all identifying the sequences for the party.

now somebody has to test the protein to make sure it works. that's when we come in when they find a gene that has been proven to work. we can make in larger volumes and more affordably so they can take dosages and treat people more globally. >> it is so difficult because these viruses mutate and they shift target cells and change your own dna structure. have we seen that with the coronavirus. >> for sure the coronavirus is different than the past. this is not new it's a new version of the coronavirus. it's mutated to a different way. so the scientists are diligently working all over the globe to come up with which one is a cure and then we have to develop it and produce it in large volumes affordable. >> dyadic is ready once they get it. >> were ready once we get it. a sequence to work with the party and produce large volumes affordably.

>> i think as you point out, the history of the company spent two and half decades, several hundred million dollars have been spent on industrial biotech with a pioneer in the 80s we diverted our attention to use enzymes we partner with that business and tested it with the unique more change and then spent two and half decades creating the pot form, it is very powerful and you have to be able to produce these things at scale cost-effectively. that's what we bring to the table. >> thank you very much. good luck to you and your team at dyadic. we wish you the best. we hope everybody can speed this up. breaking news the senate impeachment trial of president trump has just resumed after a short break. president trump legal team is delivering the defense.

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>> from the west coast to the east coast and beyond the sports world still coming to grips with the loss of one of the greatest players to ever step foot on a basketball court, kobe bryant. that is bryant park just a few blocks south of here. the fans have renamed the subway station kobe bryant park in new york city. we do have this developing news. investigators at the moment are combing the wreckage of the helicopter that crashed killing bryant and eight others in california yesterday morning. according tthis helicopter was r

special visual flight rules, what does that mean, the lapd had grounded all helicopters from flying due to low visibility from dense fog. there is still no official word what caused the fatal crash but apparently there was an application for an appeal and the helicopter was allowed to fly. brian's loss will be felt in the business community and post basketball business career, he cofounded a venture firm in 2013 called bryant, it has more than $2 billion in assets and has invested in companies such as ali baba, dell, ring dna, whose ceo we just had on "the claman countdown" friday. robert gray is at the staples center in los angeles. he played 17 of the 20 nba seasons and i know yesterday there were huge crowds. tell us what the scene is like now. >> much the same, a somber scene, thousands of people have come out, i don't have to tell

you how important toby is to the city of los angeles. you can see it in the fans faces, tears, tributes, you can see lots of flowers, the handwritten notes, plenty of flowers as i mentioned, sign basketballs, other trinkets we got candles, people writing quotes of what kobe met to them on the sidewalks. laker fans feel like they need to come down and commiserate and come together for a second straight day again. very somber scene across the street from the staples center where he played so many of the seasons. and a storybook ending there, movie ending their in hollywood as success as an investor which had only just begun in earnest. and already earning an oscar for the animated film based on a poem he wrote as he was retiring.

a lot of untapped potential there. and i think the people feel that and being brought together again in unified the way sports typically dozen los angeles. you have a great cross-section of the city here today and you can also see this in the demand for tickets for tomorrow night's game when they play the clippers, it's the first game since the crash and we see the demand of prices are getting in the door the highest seats going for quadruple digits, $1000 or more for the courtside seats and certainly to be an emotional time and still waiting for official word on how they will pay tribute to kobe but no doubt he will be elected into the hall of fame which will mean a statue no doubt outside like kareem abdul-jabbar and shaq and magic johnson and broadcaster, he will round out the group there. but we continue to follow a very sad scene out here in the wake of this tragic loss of kobe bryant and the others on the helicopter. >> he was so much more than a

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>> markets begin the day in a black swan dive. but now with the dow having been down 549 points, were still down for 28. were kind of getting back down to session lows. at the low point for the nasdaq, we have down 226-point at the moment it's down 168. it has. a lot of the losses but wall street's closes economist telescoping more coronavirus follow. they are warning a second longer term risk will be equally tricky for policymakers and markets to get their arms around. a lot has changed since he wrote

the op-ed just 48 hour to go. when did you write that? >> i wrote it on saturday. >> now we do have the state department, i guess you could say in the last 36 minutes recommending that people reconsider all travel to all of china, not just the wuhan virus. so give me your sense of how you see this and the consequences plane out for the global economy first. >> let's say what is happening and markets today is both rational and orderly and what it reflects is a higher concern a hit to global gdp because of china and the uncertainties about the scope of the virus. so you see the generalized selloff in stocks, and reduction in yield on bonds and commodity sell enough.

but it's doing so in a differentiated manner. the longer-term issue is not be discussed. as you know, i have been concerned about all the headwinds that the chinese economy has been facing. and it's a very critical time of internal development process. this is yet another one. there's a higher risk that this could, not will but could the real the chinese development process. the middle income trap. that's why we have to focus not just on the short-term but also on longer-term. >> can you put a number on it. i've seen it could clip the chinese gdp by about eight tenths of a percent. and i just wonder with this global economy, when you had the president and larry kudlow telling us that boeing would hit our economy by a couple of basis points, or gdp, how can this not hurt the u.s. economy.

>> the reason why it hurts the u.s. economy less then europe and certainly less then asia developing countries linked to china is that the u.s. is more close. the consumer in the u.s. is in a good place so if you look at the u.s., will it hit us, yes, but nothing to suggest what you will hear from the bond markets because their inverted with the risk. but i still see at u.s. at 2% and maybe highest 2.5% but you have to worry about europe and china and worry more about american economies. >> you are saying, you say it will hit the u.s. economy but not to the point where it tips into recession? >> yes, absolutely it will be a model impact on the u.s. but if you're worried about growth look at china, look at the asian

economies around there and look at europe. those are the vulnerable spots in the global economy. >> i want to show you something, here's what unconcerned. we talk about having our arms around the impact or the consequence of economies, what about our arms around how the thing is spreading. last week we had fox business and fox news graphic department making up a map of how many countries had been affected. we will put that up. this was the last week picture, now what we will do is switch it to how many countries have been affected today and as we dissolve that, it is just about everywhere. i don't see it on the african come from continents at the moment but they have suspected cases on the ivory coast. i mean, again we don't know enough about this to be able to assess what is going on but when you talk about as a disruptive

or upsetting event, yes. but do you see it as a one-off? >> it is really important to understand the dynamics of the shocks. it is not just the first one we have had pre-we have a history. the first thing, it's sudden and surprising. it catches people by surprise. what you get is an initial spread and is very difficult to determine the initial phases the scope and scale of the virus. the second step is governments playing catch-up, they start realizing what is going on and then you get a catch-up process. and then the third stage, which is much longer-term, you get a vaccine. so there are distinct phases and were in the first phase and it will continue to spread, it will continue to raise nature questions of scale and scope but don't forget there will be government reactions. that is typically what tends to

happen. i remember we were talking the same thing, exactly the same thing and you've seen this movie before, it does not mean it's not careful, people should take precautions but understand there are different stages. >> i do want to tell our viewers because were in the business of letting our viewers understand everything happening in the markets. there is the dreaded yield curve inversion happening right now but just between the two year yield in the five-year-year-old, i see the two-year at 1.44% and the five-year at 1.43%. so it's not anything as would you say to be concerned about but when you see yield curving as a warning single, is it not. >> correct. in the past yield curve and versions have been a warning of a high risk of recession. as i said earlier it's just a matter of time until we hear

that talk again. we heard it last year end i will be saying that the bond market is technically distorted. you have to understand that, central banks are distorted the bond market. so don't read too much into it, this is not a signal of a u.s. recession. and that speaks to something i have been saying over and over again, don't listen to those people who are advocating you to fade the u.s. rally. the u.s. stock market is in a better place both defensively and often civilly than the rest of the world. it is not time yet to sell the u.s. in favor of other markets that have done a lot worse than the u.s. >> when people come on and say the u.s. has 11 near bull run and really getting tired, go elsewhere, look at emerging markets depending on which market they're talking about. you would say hold on.

there is more room to run, were not running on vapors at this point in this gasoline left in the tank. >> i would say the u.s. will continue to perform. it will continue to do better than others whether it's on the way down or on the way out. that is simply because the u.s. has more economic and financial resilience especially compared to emerging markets and believe it or not the u.s. economy is more agile so it can take advantage of the sudden unexpected changes that occur. the time will come for this massive rotation that every bun has been advocating for two years. the time will come but it is not now. >> not now. if you're in u.s. stocks, it might have more room to run here. we appreciate it and we appreciate your voice and your knowledge in your reason, thank you very much and i believe the headline here is that yes, it could very well get worse before

it gets better but at the moment the u.s. market is stable. the dow is down 407 points, we are going commercial free because we do have a rather significant selloff. we should show you the market fear gauge is surging into the close. this morning it was up 18% then calmed down and then up 16% and now up 21 nearly 22%. this is the index that indicates how much fear in the market. right now markets are confronting fear from the pandemic and it is now a pandemic of the coronavirus. some of the most well-known names are finding themselves safely in the green at this hour and let's get to lauren on the floor of the new york stock exchange. >> we've seen how the vaccine makers are doing. >> this is a big deal because for every one stock that moves

up, seven are moving down. this is rare. let's talk about the homebuilders that are getting listed today. they have strong earnings, read theiraised their guidance to 200 and speaks to the potential health of low interest rates in 2020. this also happening despite new-home sales falling in the month of december. take a look at beyond meat stock is doing well, denny's, 1700 restaurants in north america, the first family restaurant with a plant-based option on its menu, beyond meat is the plant-based option. the stock up for and how%. as i noted were not seen a lot of green so afford a half% move is a nice one. finally the pet supply online company increasing the price target to $35 on the stock and trading at 28.91. they also gave an upgrade. good news for you on a day where

it's pretty tough to find green. >> i've been down at the new york stock exchange during sars and other situations. they're big on pure row. anybody wearing masks or is it calms. >> they have spoken about that. perhaps -- there was a group that came in from an asian country and the traders are talking that they have masks on there's lot of hand sanitizer, pearl on the floor of the new york stock exchange. clorox stock is up nicely today as well. a lot of people are comparing this to sars in 2003. but the biggest difference between then and now in the 17 years that china was 4% of global growth back in 2003. now it is 70%. that is a big part of the global

economy, the ripple effects could be scary even if temporary. it could be a breather that a lot of investors say the market needs right now. >> interrupt us if you get more. stocks you could say have been infected by the coronavirus years. charlie gasparino is here with the smart money diagnosis on the selloff at this hour. >> it is not much to do about nothing, there is something here, a serious situation but there is a degree -- smart money i'm talking major investors, hedge fund guys think this is overdoing it if this is why it's trading off. markets like to find reasons to trade off sometimes particularly at dow 30000 or just about right there. the worst case scenario on the coronavirus is a good enough reason when you're this high.

>> taking profits why not. it makes sense under the best of circumstances. >> i don't care how many traders walking around with masks at the new york stock exchange for, this is not going to have an impact on turn expo central impact on the corporate earnings. it is not going to send this into 1% growth. other things might but this will not. that's what you have to worry about if you're a long-term investor. you want to buy gold stocks, fine. gold can be back up the next day because they find that the coronavirus -- >> gold is on pace for the highest close in seven years. it is a classic flight to safety. >> is a fear trade at the moment. i think if you're the average investor you have to sit back and say think about what affects stocks. what affects the price of a stock. corporate earnings is the mother

♪ that. what affects corporate earnings. general economic activity, interest-rate policy, which is pretty low and accommodated right now. >> those are still a move either way because there is a meeting on wednesday. >> if you the average investor, we have to cover this because markets are moving. i would not freak out. >> are they buying, are your sources saying the smart money is overdone. >> they are trading. by the way, you just said the word pandemic in the market is off 1% right now. >> 1.5%. that is not pandemic. >> i would say when you see any exposure to china, any sector of exposure whether oil or starbucks. >> china is having a rough time, they have had a rough time for a

couple of years. i'm just telling you, i don't think this is going to have a major impact on corporate earnings. what did mohammed say. >> he said specifically that while it may get worse before it gets better he does not see this as stopping what has been a very strong economy. >> it is so valuable to have him here. >> he's a sober guy, he understands and he would tell you if he's really scared. this will not have an impact on corporate earnings on way the markets are right now, it's a good headline, we have to cover it, don't sell your stock for folio because of this. there's other reasons to sell. >> don't try to catch a falling knife as they say. >> i would not. >> you know me i'm a scaredy-cat generally. >> less than nine minutes away from the closing bell. checking the dow, down 455 points. we do see a stubborn treasury yield on the ten year period

1.60%. most of asia's market are closed until next monday, take a look at the ms ci china exchange traded fund is doing today. we saw a lot of funds that have a basket of stocks that are exposed to anything chinese and they are getting hurt. this is the mch i down three and three-quarter. you can tell china is a problem. let's get to our trader shopping list and part two of our four show. eight minutes left. we have david joy and along with her favorite traders of the new york stock exchange and the cema. david, i will begin with you, charlie and i were talking about the smart money. you are the smart money with billions of assets and a merry price. what are your traders in your floors doing, how is activity

there. what action are they taking. >> i think it's probably too early to put cash to work if you have it. the underlying sentiment is this. history tells us that these episodes often present buying opportunities. but we do not know how severe this virus is going to get. it is premature to say it is not time to start putting that money to work. this thing is not under control yet, no vaccine, we woke up this morning and 30% more confirmed cases worldwide then there were the day before. so it's a good time to keep your part drive. but be on the lookout for any sign that this is beginning to stabilize and at that point i think you have an opportunity to put money to work at a better entry-level. >> can i ask what that would be, where do we look to see if it stabilize. >> i think if you saw some progress in china itself in slowing down the spread of the

virus overnight rates of infection begin to slow, if we got any sort of news that there was progress on the identification and production of a vaccine, it may take several weeks or several months for that to happen but those are some of the signs i would begin to look for. once we get them history tells us the chinese economy should bounce back fairly quickly and i also think of the developed markets as well. >> we know a lot of sectors are getting hammered, tell us what you see down at the cme and if there's any buyers coming in with six minutes left. >> there is buying, it's a mixture as i watch the board, buys and sells. a little bit of everything. that leads to the mixed stability into the close. were not seen the last surge of panic but at the same time not seeing people come in and buying

like you like to see at the end of the day if they think the thing is all over. when you see where might one place be to see if things are stabilizing, that might be the, oddity and oil. if you remember last week when we got word of this potential virus, it was actually the energy sector that led the way out. energy traders were very concerned mainly because of the lack of demand coming out of china. when you shut down a major city, that slows it down so the energy sector, that might be a sign that the market is getting confident. >> let me assume that were right and it will be a short-term issue, where are the longer-term investment plays at the moment. >> you want to be in software, and you want to be in transportation. those areas are going to have big tailwinds behind them were a number of years. we don't worry about the next two weeks or the next three

months. sars lasted three months at the time and the markets rebounded. we think you have similar scenario. right now is earnings season. you will find out from investors what is going on and where their seen impact. >> i'm looking at disney at the moment. it's not exactly at the low of the trading session but down 3% and were not seen buyers rushing in at the moment. tell us what you see at the new york stock exchange. >> you say you're not seen buyers but you're not seeing sellers. this is where the market has been all day. the news headlines have come out in the worst case scenario as far as gdp reduction comes out this market has not sold off. i certainly don't see the panic in it yet, the 1% move is hard to buy into. we might need a further decline to see people put money to work. >> give me a sense of what you see and how much you would be parking in the short-term

treasury we do have the two-year deal yielding more than the five year period that the little teeny bit of inversion and a little fear trade. >> i think if you want to park money in the intermediate term i want to do in short-term, i would want to move further on the curve maybe into strategic income type fund instruments. or alternative bond funds. those things that get to a little bit of extra yield and credit exposure. better value in the treasury market. but i agree with what i have been hearing, it's interesting to me that the worst levels of the day liz: could i interrupt? we're seeing a bit of deterioration in the vix. that means it is spiking. that is what i mean, a little bit of word play there. phil flynn, we're now seeing the

vix jumping 23%. kind of been all over the map this hour. >> it really has. keep in mind the vix has been flat-lining for so long, nobody has been afraid about anything. hard to remember what fear feels like i think it is having a hard time gauging it right now but i don't think it is affecting, jumping around in the vix or not affecting order flow. it mixed as we go. chinese tech stocks got beat up. they're not going away. if i had to jump that would be spot i jump in. i like alibaba. everybody is stuck at home watching videos. why not? liz: they're playing "fortnite" an tencent owns that. the gaming company owns that. gus, we have minute 30 seconds left of trade. give me your ultimate sense of the, the fact, listen, our big banks are very solid. we don't see a credit crisis.

therefore this is slightly different, is it not? >> yes. this is the best banks have been in the terms of the amount of capital that they have. they really were taken down after 2018. the government came in and forced their hand. they're sitting on more capital than they have. i would say the banks are probably as rock solid balance sheets as they have ever been. we've actually grown our exposures in terms of u.s. banks overseas exposure. they are bigger in europe than they ever been. they are becoming bigger and bigger in the far east. liz: gus, david, phil, matt, thanks for joining us on a rather difficult day. again where we opened is slightly lower than where we closed. we do see markets in the last hour accelerating loss from what we've seen midday, but, part of that could be that right before our show, the state department issued a travel warning for china, saying that not only should you avoid the province in which wuhan, where the virus

began is, but, should not or at least reconsider traveling to all of china. [closing bell rings] there goes the bells. dow industrials off 442 points. the nasdaq getting kicked in the gut there. down -- connell: it is a dangerous outbreak and it is hitting wall street today. stocks hammered with china warning the spread of the coronavirus has been accelerating. at least 81 confirmed dead. thousands of cases record around the world. we'll talk about it here as we wrap up the market day with the dow settling in 444 points lower. to liz's point we were down 549. connell: i'm connell mcshane. jacquie: i'm jackie deangelis in for