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 melissa francis. we have fox business team coverage. grady trimble and phil flynn watching the oil and gold from the cme. let's start with you, grady. reporter: jackie, a woman in her 60s being treated in isolation after contracting coronavirus while traveling in china. she is in good condition. the good news from the cdc, there are no new cases of coronavirus. the cdc confirmed the three over the weekend that bring as total of five in the united states. the cdc is monitoring another 110 people who might potentially have the virus. the while the cdc says the virus is not spreading into the united states, it has spread to 15

countries outside of china, up from 13 yesterday. president trump offered united states help. as officials in china try to contain the virus. people in wuhan are not allowed to leave. one major concern is five million people already left before that quarantine was put into place. the cdc says, back in the united states the risk of catching the virus here is low. the risk of contracting it from imported goods from china, to quote them, very, very, very low but the cdc hinted at possible travel restrictions in the next day or two. the state department also issuing travel restrictions. so as a result, travel related stocks down today. taking a look at major airlines in the united states. all down between 3 and 5% as coronavirus fears spook investors. jackie? jackie: grady, thank you for that. let's get to lauren simonetti on the floor of the stock exchange. a sharp selloff today but not erasing all the gains for the year. reporter: still positive for 2020. at least, as of now, still in

january. grady was talking about this potentially exposure of the coronavirus. if you take a look at some of the restaurant stocks, they're closing a lot of their stores in china. starbucks, 10% of their sales come from china. they have started to close stores there. that stock down 3 1/2% today. starbucks of china, if you will, lucken coffee, down 9%. they have closed stores in the wuhan province through the lunar new year. that is not good news. yum! brands have closed some of their pizza huts and kfcs as well. mcdonald's closing stores in five cities. they're actually testing their workers throughout china, handing out hand sanitizer to diners because everybody is worried about potential contagion. also, everyone is trying to figure out a vaccine or some sort of screening test. we're seeing these stocks spike.

limited green on the screen, if you will. one stock meridian health. that stock is up 20% today. co-diagnostics up 82. so, there is hope that some of these diagnostic and screening tests will produce something that regulators can approve. back to you. connell: lauren, thank you, the other big part of this story is oil. we've seen oil plunging. we saw it again today. phil flynn joins us from chicago. that is five days in a row, phil. you have been talking about this, demand destruction goes along with virus fears. take us through today. what you expect here on out? >> today was a situation where a bad situation started to get worse and raised a lot of concern with the oil market. so much so, that the oil market is now back in bear market territory. of course the last time we're in bear market territory, we found support. we'll see if that happens right now but we need to get some good news on the demand side when it comes to oil. right now of course with china still keeping cities basically

locked up, plane flights, more getting canceled. we're talking 100,000s of barrels of oil not to be used. that is taking toll on the market. it raised concerns of saudi arabia. saudi arabia basically is watching the situation. they're saying hey, wait a second, don't overreact to this drop in demand. it is not as bad as people think. but at the same time, they have to worry because saud aramco stock hit lowest level since they started trading publicly. if things continue to get bad, opec might do another production cut to support the market. the other thing you're seeing in trade in commodities is gold. closed at six-year high. a lot of buying here. concerns about fund flows coming out of china. whenever you sequencer about the chinese economy, gold has been a safe haven for a lot of plays because it is a lot easier to get gold out of the country. back to you. connell: makes sense. we'll see what the next step is. thank you, phil. jackie?

jackie: the dow wiping out 2020 gains or almost. let's get back to jack hough, "barron's" associate editor. jack, what i would ask you, so early to know what is going on here. definitely we have to take a wait-and-see approach. how can investors position themselves for the volatility that is likely to come with this story? >> people are asking, is this a disaster for stocks or is it a buying opportunity? those are not the only two choices, right? it is possible. you mentioned earlier that stocks are not even down for the year. when we had a sars outbreak in 2002, the stock market lost 12% in the space of five or six months. it went on the next year to close higher. we had dozens and dozens of things, natural disasters, disease outbreaks over the bull market. it continued to move higher. people who are not in the market right now should be, don't wait for a buying opportunity based on a virus outbreak. get honey in stocks where they're supposed to be. connell: back to jackie in a moment, as we continue to cover

the coronavirus as it spreads to 16 countries. china of course is struggling to contain it. we are now joined with more perspective by american investors based in beijing, who made the decision to move himself and his family for now out of china. that is ben harburg on your screen from sna capital. welcome back to "after the bell" who is in japan where it is early morning. take us through the economy or markets, your personal decision to move out of beijing where you live, what went into that, how long you might stay away? >> will, i think it was just the prudent decision. we saw this coming through about a week ago. you know, the cases starred spiking. expectation was that it would be travel restrictions placed initially on, that zone but also then expanding around the country. as we've seen over last couple days, now tour groups restricted. i think it is possible some larger cities, shanghai, beijing

might see international travel restrictions so. our intention was get the family out. get to a place that is frankly not around a lot of people, a lot of clean, fresh air. and, then wait and see. this obviously is a holiday period anyway. so, while we're out of school, most of the kids schools are indefinitely closed. maybe coming back in two or three weeks. so it is a good time for to us stay out and watch. connell: what was the level of, you know, panic versus calm in your neighborhood in beijing, from people you work with, colleagues, and the like? how are people handling it before you, before you left? >> you know, i think it was, it was still in its infancy in terms of how, you know, wide the spread, how quickly it was growing, relative uncertainty around it. you know, the airport in beijing was pretty quiet actually. obviously everyone was wearing masks. it was certainly felt a little

bit tense but i think now, essentially if you were to go to beijing or any other major chinese city you would find it almost a ghost town. people essentially, self-quarantining themselves into their homes. avoiding contact with others, having everything brought in by delivery services, in general and really trying to, just avoid contact. connell: as you know global investors are trying to wrap their arms around how serious this is, how much risk they should have in their own portfolios all the rest. always difficult in the middle of a situation, you don't want to overreact at the same time. i don't suppose you want to under react. is there any perspective you provide for your own experience, where you have been, maybe people are not thinking about or should know as they make decisions how to invest or what the economic impact of all this might eventually be? >> you know. it is obviously really early in the process but as technology investor, you know, actually 2003 and sars outbreak was

actually a seminal moment in china tech. actually far from damaging technology markets in china. it actually gave birth to a lot of industries. so a lot of companies like tabai, tencent gaming can trace a lot of their success to the momentum generated during that period where people were essentially cordoned off, restricted to their homes, didn't have a lot to do, so net result, were driving into alternative sources of goods. so things like e-commerce, delivery food, gaming, and so. we're seeing actually a pop up of that as well during this period. so, for instance, companies like tencent and bite dance right now have been launching and actively promoting remote coworking applications along the lines of an american slack. people like bite dance are also promoting use of long form video

and long form content creation, a long the lines of a netflix. so i think as people, siloed themselves at home, rely on food delivery companies, companies like matwan will benefit during this period and it might lead to greater, you know, innovation within the chinese technology space. so, it is an interesting space to watch. connell: very interesting perspective and, analysis of all of that, with everybody else thinking about the macrofactors. ben, be safe with you and your entire family. hopefully we'll speak to you again soon. thanks for the perspective today, ben heartburg from japan. jackie. jackie: the biggest names in tech reporting earnings this week. i want to get back to you. apple kicking it off tomorrow, obviously all the names in the red today. >> apple a few years ago, you could see the stock for 12 times earnings. at that price you could have a soft quarter, you can get away with it. it is up to 23 times earnings right now. this company needs to beat

expectations every quarter from here. the good news, always helpful when your potential weak period is in the rear view mirror. i thought apple's result cost have been weak over the past couple quarters where it didn't have the 5g phone out yet. consumers know what is coming. maybe they would have held off. instead they have done great with airpods and other things. company is doing very well right now. it certainly carry as premium price. jackie: jack, thanks so much. connell: a lot going on but tomorrow to your point, we'll be talking a lot about earnings. today a potential wild card in the impeachment trial. explosive claims made by the president's former national security advisor in a new book have added fire to the debate over witness testimony, forcing some key republican senators to speak out today. we'll have all the details coming your way next. jackie: plus we're one week away from the iowa caucuses. some farmers in the key battleground state are still feeling pain from the trade war. we are live in the hawkeye state with all the implications of the

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♪. connell: second day of arguments for president trump's defense team in his impeachment trial t happens as at least two republican senators publicly indicating they might be open to allowing former national security advisor john bolton to testify. that following the leaked manuscripts of mr. bolton's book. that was quite a development. chad pergram, congressional correspondent is with us from capitol hill. before that, chad, we were thinking this thing could wrap up pretty quickly. maybe not so fast, right? >> that's right. buzzing about bolton. it could wrap up towards the end of the week here but basically one big question here, are they going to have witnesses? everybody thinks they will not get to 67 votes to convict to remove the president but will they have witnesses? that completely upended the republicans because they thought they had momentum after the

brief, but succinct defense. adam schiff, the lead manager says this accentuates the need to call witness. >> let the american people along with the senators evaluate john bolton's credibility when he testifies and make their own judgment but to say we're going to blind ourselves from a witness who has so clearly relevant testimony to one of the central, most serious allegations against the president, i don't see how you can have a fair trial without testimony like that. >> now democratic official working on impeachment inquiry tells fox there is no correlation, no connection between those working on impeachment and john bolton's counsel and the release of this manuscript. john ratcliffe, republican congressman from texas believes this is a democratic stunt. >> every time things don't go the democrats way they try to change the narrative. they try to selectively leak information to try to do that. what you saw on saturday was in two hours the president's team

unraveled the 21 hours of the defendant's, the democrats case they put on. they tried to change the narrative again. >> republican maine senator susan collins face as competitive re-election in a battleground states. she demands four witnesses and the bolton transcript strengthens witnesses. lisa murkowski, when it comes to the bolton issue, she said, i'm still curious. it comes down to the vote. the break down of the senate is 43-47. mitt romney, for witnesses, it gets you to 51-49. a wild car is lisa murkowsky or lamar alexander, some might think that would be it. two people vote for witnesses. we won't get until that until the end of the week. once the president's defense team finishes present the its case, wrapping up tonight, certainly tomorrow, then they go

to a 16 hour question period. where senators submit questions in writing through the chair that would be chief justice john roberts and then they decide this later in the week. that will be the biggest question as they try to finish the trial potentially later this week, connell. connell: still could end up this week. less certain now, chad pergram as always. thank you. jackie: amid chaos on capitol hill, president trump focusing on policy. president meeting with israeli prime minister benjamin netanyahu today. let's go to fox business's blake burman at white house with details on the meeting. reporter: noon tomorrow the president will unveil his plan to try to insure peace in the middle east. you saw some of the video there from inside of the oval office earlier today as president trump met with the prime minister, israeli prime minister benjamin netanyahu making that announcement. the president also by the way sat down with netanyahu's opponent today as well, benny gantz. that meeting kept behind closed doors. palestinians are already rejecting the proposal which has

yet to be made public but the president remains hopeful. >> i think we're relatively close but we have to get other people to agree with it also. i will say many arab nations agreed to it. they like it. they think it is great. they think it is a big start. i think it is a big start too. i think a fantastic thing if we pull it off. >> now the white house today was also faced with a slew of questions involving former national security advisor john bolton. "the new york times" reports that bolton writes in his new book, that the president told him that aid for ukraine was tied to an investigation into the bidens. today the president called that false. he then added on twitter as well recently saying quote, i never told john bolton that the aid to ukraine was tied to investigation of democrats including the bidens. in fact he never complained about this at the time of his very public termination. the president says if john bolton says this, it was only to

tell a book. you heard chad talking about bolton and ramifications potentially on capitol hill and whether or not this will all play out up on the hill with potential interview here, maybe in upcoming days. jackie: thanks for that, blake. connell: thank you, blake. we'll talk about coming up the loss of a sports legend, devastating helicopter crash that killed kobe bryant, his 13-year-old daughter and also seven other people. how the world is responding to the tragedy is ahead. plus jury selection for michael avenatti's trial allegedly for extorting nike, that begins today. where does the fate of the embattled lawyer stand? we'll have that straight ahead. . i love you! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

♪. >> i'm numb right now. my hero since i grew up with kobe. he is my age. >> he is in my prayers.

i'm lost for words, you know. i'm still having a hard time with it. so, all i can do is just, you know, hope that his family you know, wish them the best. i can't imagine what they're going through. jackie: honoring the life of a hero on and off the basketball court. thousands are mourning outside of los angeles's staples center to remember kobe bryant who unexpectedly died in a helicopter accident. bryant's 13-year-old daughter gianna, was among one of the passengers also killed in the crash. robert gray is on the scene now. robert? reporter: hey, jackie, that's right. outsized pouring of emotion here. fans gathering here. thousands of them again for a second day, creating makeshift memorials here in the square just across the street from the staples center where lakers played their home games. you can see folks bringing balloons, wreaths, flowers, signed basketballs, hand-written

notes, drawn notes, describing on the cement, differ sayings, many of them relating to kobe and what he meant to them. you can just see a wide range of emotions out here. we've seen everyone from tearful. some folks chanting his name, kobe, kobe, mvp. ma'am ba, his nickname. you have -- you see the last game had 60 points. he was off the and running into his second career. keep in mind he made $700 million during his pro career. half of that with endorsements of household names with the likes of nike, mcdonald's and sprite. transitioning into a venture capital fund, that started $100 million before he hung up his sneakers. growing into $4 billion. in big invests the like of epic games, parent of "fortnite,"

dell came back to public markets and one of the biggest european ipos last year. don't forget, jackie he won an oscar two years ago, for a short based on a poem that he wrote as he was retiring. so clearly a lot of untapped potential there still to come cut short at age 41. jackie: robert, not to diminish the human tragedy here but also triggering a lot of no, sir tall today from fans i -- nostalgia from fans. ticket prices from the lakers game tomorrow night soaring. reporter: first time the lakers take the court since the crash. they tip off at 7 p.m., against the crosstown rivals the clippers. emotions were running high almost every nba game having a tribute of some sort to kobe. interesting to see how that comes off tomorrow. no doubt emotions will be running high. prices running high. obviously sold out on the

secondary market. you're looking at 1000 bucks or more just to get inside the door. nose bleed seats. a lot of demand to be there. angelinos feeling the need to commiserate, be together to celebrate kobe's life on and off the court. jackie: robert, thank you. connell: tough for the players playing last night. beyond tough. the questionable decision by the nba not to cancel the games. they got through it. doc rivers from the clippers was most emotional. we'll hear from him tomorrow night. terrible, terrible story. we'll talk about the rest of the day's news including the american dream taking a hit. farmers in a key swing state struggling still from the trade war. we'll break down what it could mean for a race to the white house. the democratic race in iowa without a clear front-runner. we'll put it all together next. jackie: a stunning revelation. federal prosecutors uncovering major new evidence uncovering a source behind the leak of

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hillary vaughn is on the ground in the hawkeye state talking to farmers there. hillary? reporter: jackie, a lot of pigs born and raised here in iowa eventually get shipped to china. when beijing singled out pork producers as part of the trade fight, it cost the industry $955 million, making it hard for farmers here to bring home the bacon. >> in farming you don't get rich fast. reporter: max has been farming for over 50 years. >> it is ham today. reporter: he put a lot of money into the 4500-acres he runs. >> they're pretty good. reporter: instead of retiring cashing out his 6 million-dollar operation he decided to rent his land to help young farmers get started. every friday, pig farmers from around emlma, iowa, head to his

house for friday breakfast. none of his children interested in continuing the farming legacy. max found his own way to pass down experience to fresh-faced farmers. >> my goal tonight is create a enterprise at that lives beyond me. i quit farming a year ago, rented all my land to these guys. reporter: one of those is trent teley, the current president of the iowa pork association. >> mac called me at that time. if i had any interest in getting started farming? i said of course. every farm boy is. reporter: but weathering two years of china taxing u.s. pork products has stalled growth. >> two years ago we did not build any barns mostly due to the tariffs uncertainty. we didn't know where we were going to be at. we don't want to own more pigs if we will lose money on them. reporter: that uncertain foot four means fewer farmers are not getting into the business with a business that should be booming

not breaking. do worry about your son will -- >> i always worry if we keep the farm running long enough for him to have a chance. or if it will be profitable where he is interested in it. reporter: due feel like there's a disconnect between fell what is feel like there is disconnect between washington and what is happening in iowa? >> some differences yeah, when the democrats came up with impeachment. i was more concerned about our trade. the whole time it was not getting repaired, fixed and moved forward it was costing me. reporter: but some trade agreements the president put pork in the middle of has been worth the short-term cost for a long-term payoff. >> the way he does things may be more cowboy istic, but he is getting more results for us. that is what we need in the end. reporter: jackie, even though these trade disputes are dissipating, farmers are still

waiting to see some of the impact. jackie. jackie: hillary, thank you for that. connell: interesting perspective that last farmer's comments to hillary are interesting. i heard similar comments. i've been out in iowa. i will be back there for the show as a matter of fact on friday ahead of the caucuses where people have been saying yeah, we've been hurt by the trade war but somebody had to take the fight to china. that would be obviously good news for the president's re-election. if they feel that way. what do you make of that? >> i think that is a lot of people is true in iowa. i like what he said, president trump is cowboyistic that is word i will adopt. they felt there were long-term trade problems with china. they had to be resolved. but i think ultimately since we're heading into those caucuses next monday, connell. we have to think about this in political and partisan terms. there are both republicans and democrats in iowa, some of them are farmers and the democratic

farmers, republican farmers. donald trump carried that state by nine points against hillary clinton. the biggest margin since ronald reagan in 1980 and i think most of those republican farmers, both pork and soybean who were hit by the tariffs probably are going to stick with the president, not sure about the democratic farmers. the question is, where are those democratic farmers going to go in the caucus? will they go to joe biden, a kind of centrist candidate or slip over to bernie sanders, who some of these polls suggest is leading out there? i think the democratic farmers are pretty angry with donald trump and the question is, where is their vote going to end up next monday in the caucuses. connell: to your point about bernie, he has been surging. some people surprisingly so, we shouldn't be surprised after watching two round now, 2016 of this year. there is the "real clear politics" average of the polls in iowa. with recent strong results, sanders now ahead of biden. there is a scenario here he

could win iowa and win new hampshire. what do you think? >> yeah, i think it would not just be a earthquake, it would be a tsunami for the democratic party if that were to happen. recall back in 2016 again when all the democrats with hillary and bernie were running against head-to-head in the primaries against all the republicans. bernie sanders in the head-to-head polls back then almost came out on top. i think he has a mystical support among a lot of democrats and maybe younger independent voters as well. that is showing again here in the last week, in the run up to the democratic caucuses in iowa. and those iowans have to make up their mind in the next week, whether they think bernie sanders socialism is the future of the democratic party. connell: can he beat donald trump with that argument? when you polled, we've done it at fox, head-to-head, trump versus sanders, trump versus biden or even trump versus bloomberg in the most recent polls the best numbers are for

biden and for bloomberg. they were both in the recent fox poll outside the margin of error. they both beat the president fairly easily by eight or nine points. sanders was ahead of him within the margin of error. not as strong of a matchup, right? >> i think that's right. the socialism piece is something i don't think entirely sunk in to a lot of voters yet. they are not paying that close attention yet. the real worry about democrats, if bernie starts pulling away, looks like he is heading towards the nomination, you know they think bernie might be able to compete for himself. it is down ballot, the rest of the democratic ticket where they think they could be absolutely creamed if they had a thorough going socialist running at the top of the ticket. connell: that is interesting, bernie could actually win but democrats -- >> pull down the rest of the party. connell: pull down everybody else. these next couple weeks will be interesting. are you making a prediction it is sanders in the first two states or not going that far yet? >> i think it is probably going

to be bernie. connell: really? >> ask me in two weeks. looks like it is heading in that direction. connell: exactly what i will ask you. thank you as always, dan henninger. jackie: we'll be watching. quality over quantity, spending too much time over your virtual life impacting your real life? we are a 97-year-old firm built for right now. edward jones. it's time for investing to feel individual. be stronger... with nicorette coated ice mint. layered with flavor. it's the first and only coated nicotine lozenge. for an amazing taste... ...that outlasts your craving. nicorette ice mint.

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connell: here is a "fox business alert." twitter has just confirmed that the accounts of 15 nfl teams were hacked earlier this afternoon. super bowl contenders are on the list, kansas city chiefs official account was hacked. the 49ers as well. that is what happened, they tweeted out a bunch of strange messages. when i saw, was reading one of them, stuff like, we want to show you every account is hackable, something like that. profile photos kind of disappeared. twitter confirmed it was hacked, 15 teams and they're currently investigating the situation. there you go. jackie. jackie: along a similar vein, if you're feeling lonely, some experts blame social media. they say you can blame your work place with a caveat. cigna published a report that states more than half of u.s. workers, 61% are feeling a spike in isolation or loneliness. so the question is, what is behind this spike? who better to ask than our own david asman. david? >> who thinks that people who

believe, really believe that they have 1000 virtual friend on facebook are living in a dream world. it does lead to unhappiness. the great thing, you know, you hear a lot of these reports and some of them, you can, you can either live with them or die with them but this is an important report because 73% of heavy social media users say they're lonely. that is a lot more than the people who say they're not lonely and don't use social media. in other words, the less you use social media, the less you use social media, the less lonely you will become. people who really believe they have virtual friends have a tendency to become lonely because, when rubber hits the road, they realize those aren't friends. they are not friends you can trust, believe in. they're just virtual and don't do it, folks. because you're wasting your time if you do. jackie: all right. so no chicken and egg here. there is direct causality it seems. >> there is indeed. jackie: all right. what is coming up on the show

tonight? >> tomorrow the president reveals his middle east peace plan. he has been working on this for about three years now, as have a lot of people inside of the white house. walid phares has some ideas what's in it, and whether or not it will work. also the iranians are at it again. they're bombing our embassy in baghdad. the question is do we do anything about it this time? we'll be asking him. jackie: david, thank you so much. see you at the top of the hour. connell: meantime u.s. officials have told fox news a military plane crashed in afghanistan a lot of questions about this, jennifer griffin at the pentagon with what we know. reporter: hi, connell. a military official tells me an air force e-11 airborne communications plane crashed in eastern afghanistan early monday. it is not immediately clear if anyone survived the crash which took place in ghazni province. there were fewer than five military personnel were onboard.

this video was verified by the associated press and posted on twitter. u.s. officials say there is no indication the plane was shot down by enemy fight es or the taliban. this is the civilian version of the bombardier global business jet and looks like a learjet. the e-11 was known as flying wi-fi developed in the wake of the lone survivor incident when navy seals including marcus luttrell were cut off from communications in afghanistan in 2005. the e-11 is used to link forces on the ground with aircraft overhead in the mountains of eastern afghanistan where communication is difficult due to the harsh terrain. afghanistan is the only country where the u.s. military has deployed these planes. the u.s. military issued a statement, quote, while the cause of the crash is uninvestigation, there are no indications the crash was caused by enemy fire. we'll provide additional information as it becomes variable. the taliban claims additional

aircraft crashed are false. iranian stayed media, posted video of the alleged crash site, claiming that the american plane was shot down by the taliban. u.s. officials say that is not true. an investigation will follow. all of this is happening, connell, with the stop start talks with the taliban as a backdrop. connell: we will watch for updates, thanks, jennifer griffin at the pentagon. jackie: a tabloid mystery finally be solved? uncovered evidence of the scandal surrounding jeff bezos leaked tests. getting his day in court. michael avenatti getting his day in court in front after jury about his attempt to shake down nike. we'll break down his legal strategy coming up next. i'm your 70lb st. bernard puppy, and my lack of impulse control, is about to become your problem.

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>> prominent trial underway jury selection begins today for celebrity attorney michael avenatti who faces charges of extortion after allegedly attempting to blackmail nike out of $20 million, he is being held at the metropolitan correctional center and denied bail before the start of the trial. let's bring in andrew napolitano. judicial analyst for the details. judge, your thoughts on how this shakes out and what are the consequent to. >> lawyers are permitted to write to adversaries and say my client has a claim against you, and x dollars will make the claim go away. that's what lawyers do, a more efficient way to resolve the dispute then filing a lawsuit in litigating it. but when the demand is so disproportionate to any ability to show damages then the government gets involved and then it appears to be extortion.

rather than the settlement of a legitimate claim. >> in this case avenatti claimed he was representing in high school basketball coach whose players and students had received improper gifts from nike and somehow that was worth $25 million not to sue. unfortunately for mr. avenatti nike went to the feds and needy atlee and leeward tape recordings which many of us heard when this news broke a year ago with him yelling and screaming and radiant and demanding more from 25 million. it will be difficult for him to defend against that. the reason he's in jail is a bit of a mystery. he was in the middle of a hearing to remove his license to practice law in los angeles when they took a bathroom break and he was arrested in the bathroom by irs agents who had a warrant by the federal judge. that warrant and the documents supporting the warrant were sealed in steel sealed but somehow he ended up the next day in manhattan in the same gel

that hold el chapo and jeffrey epstein and being transported there on a daily basis to his trial. >> while i have you here, let's talk about bezos bash. billionaire jeff bezos hosting a high-end party in his home. yes like yvonne cutrone, bill gates, mitt romney, this is all admit investigations of the cell phone hacking as well as reports of the national enquirer retained information of the brothers girlfriend of his extramarital affairs. when you look at this you can say there was a stretch but the saudi's gone ball. no lauren sanchez said the text to her brother. >> we have two different versions, the wall street journal reported and says it got from federal authorities. is that in fact the saudi prince was not involved, jeff bezos girlfriend gave these embarrassing photos to her brother who sold them to the national enquirer.

so far no crime. we also have the united nations which says it has investigated and looked at the fbi and the hacking of jeff bezos iphone was done by an iphone associated with the saudi prince. i don't know where this is going to go. giving it to the brother who sold it to the american media, the national enquirer is not a crime of no interest of the fbi. but if our national or foreign intelligence service hacking the iphone of an american citizen is very much of interest to the fbi. we'll see where it goes. >> difficult to get to the bottom of that. as you said, it is not a crime to give your brother those photos. i think a lot of the world watching this particular situation thought who would do that. >> her brother -- i don't know the guy is a character. by the way he says wall street

journal has out wrong. he said that in a very colorful language and they printed it in the article when he told them by e-mail. i don't know where this will go. it is unusual for the fbi to release a preliminary result of an investigation before the investigation is not done. somehow that preliminary information made its way into the wall street journal on the front page. >> great this year. thank you. >> he is right about the brother being a character. that is for sure. we have a quick minute before we wrap up. it'll be interesting the next few days what the market does after what we did today. people are still trained to get their arms wrapped around the whole coronavirus in the end up for they're down 450 some points for the day. the s&p 500 moving more than 1%. we pointed this out, that is the first 1% move in either direction for the s&p says early to mid october. we have not had a market move

this much. >> the market has had a good run for the upside but we have to sit back and see if the selling is overblown because people are scared, we have seen that before. everybody is trying to figure out. >> they could for joining us today. "bulls & bears" start right now. david: the world is on high alert as new concerns over the coronavirus outbreak royalty markets today, the dow erasing all of its 2020 gains. diving more than 500 points closing down about 453-point, this is the state department issuing level three and level four alerts about travel to china. hi everyone, this is "bulls & bears" and thank you for joining us i am david asman. joining me on the piano jonathan honecker, liz, and jeannie xena. the cdc confirming at least 81 people are now dead in china. nearly 3000 cases worldwide.

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