needs to file a lawsuit against greyhound. i was border patrol agent. i boarded many greyhound bus. i arrested many illegal aliens off of buses. they're putting profit, ahead of this country's laws. another country will make it easy for people to be in country illegally, 31% of women being raped, children dying, cartels getting rich. we're either a nation of laws or we're not. shame on greyhound, really disappointed in them. stuart: got it. tom homan, appreciate it as always, tom. >> thanks for having me, stuart. stuart: bernie sanders is not happy with msnbc's coverage of his campaign or msdnc as the president says. media watcher howard kurtz reports on that next. ♪. hi guys. this is the chevy silverado

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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. >> so i think it was a great win for bernie sanders. we'll see how it all turns out. they have a lot of winning to do. i hope they treat him fairly. frankly i don't care who i run against but i hope they treat them fairly.

i hope it will not be a rigged deal. there is a lot of bad things going on. stuart: that is the president getting in the middle of the democrat race. he was responding to bernie's big win in nevada. now listen to what msnbc's christmas thousands had to say about bernie. roll tape. >> i'm reading last night about the fall of france in the summer of 1940 and the general calls upchurch hill and says, it's over. and churchhill says how can it be? you have the greatest army in europe, how can it be over? he said it's over. i have that suppressed feeling. i can't be as wild as car develop. i think he is damn smart and smart on this one. stuart: there was criticism of chris matthews saying that but bernie flipped out on msnbc executives before the debate last week because of their campaign coverage. howard kurtz, "mediabuzz" host with us now. msnbc has a beef and bernie has a beef with msnbc. i don't get it? i thought they were all on the far left?

>> you would think that bernie sanders and msnbc would be a marriage made in political heaven but no. the sanders campaign, campaign manager told "vanity fair" that msnbc is condescending and elitists treats bernie supporters are idiots or conned and that fox news is more fair to the bernie sanders than is mean. bernie sanders had words with executives before the debate. when christmas thousands says something like that reinforces the bernie camp's view that msnbc is not fair. chris matthews should apologize to the vermont senator. what did the he do to state the nazi analogy. he won nevada by 25 points over joe biden fair and square. stuart: we never seen an election like this. let me continue here. the media is not just going after bernie. roll this piece of tape, please. >> this was a disaster for bloomberg. bloomberg went in as the

titanic, billion dollar machine titanic. titanic meet iceberg, elizabeth warren. >> former mayor was completely out of his realm. >> i wouldn't want to go in there to defend him after the night he had. >> it was boxing in the 1950s. you keep punching the cut over their eye over and over again. that is what they did to bloomberg. stuart: howie, i really don't get it. they go after bloomberg. they go after bernie. they're going after everybody. i thought they were democrats? >> what's happened here the press generally built up mike bloomberg into this political superman who is going to come in, will beat bernie, get the nomination, will trounce donald trump because they viewed the billionaire as their last best hope for defeating trump because they don't think bernie can do it. he goes on the stage. he was absolutely atrocious. everyone agrees on that. what happened to bloomberg, in addition to the fact he is not a good debater, but good mayor of new york city, he was behind the wall of his billion dollar media

machine. he didn't do many tv interviews where he would have improved some of the answers. for example you can't go into the debate say my company will not release women who filed sexual discrimination lawsuits from the non-disclosure. he eventually backed off. he did some interviews, realized that wasn't going to fly. it flopped in front of 20 million viewers in the big debate. stuart: maybe bloomberg will get the sympathy vote because he was such an appalling debater. i don't know. howie, always a pleasure. thanks for being with us this morning. >> good to see you, stuart. stuart: big hour coming up for you. in a few minutes maria bartiromo joins us. we have a lot to go at with her. look what is happening on the market. we have the political fallout surrounding china's president over coronavirus. also coming up next hour, sarah sanders. the democrats are totally divided especially after bernie's big win. what has she got to say about that i wonder? i can't imagine. plus big week for the president and the democrats.

the democrats will debate in south carolina tuesday night. i say this next week it will define the 2020 presidential race, the democrats, define them too. all that coming up in my take. ♪. ♪ 1 in 3 deaths is caused by cardiovascular disease. millions of patients are treated with statins-but up to

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haven, the price goes up, the yield comes down. there you have it. another safe haven is gold. that is at a seven-year high, up 27 bucks at $1676. oil, that's not a safe haven. you are coming out of oil because of the decline worldwide in travel. $51 a barrel for oil, down two bucks. look who's here. i need help from those who have experience in handling this kind of thing. maria bartiromo has seen almost as many selloffs as i have. not quite. maria: selloffs, rallies. stuart: how do you handle this one? maria: i think you want to first stop, see where you are invested, assess what your investments are, and actually identify where the exposure is in terms of the exposure to china. don't think every company is apple. it's not. apple is an outlier. apple is producing everything in china and then it's counting on all the demand coming out of china for its growth story. that's not every company. yes, 50% of the earnings in the

s&p 500 are coming from international economies but not to the extent that apple has entrenched in china. so not everything is going to get impacted here. stuart: are there going to be a lot of people, small investors, individual investors, who look at this market and say you know, it doesn't cost me anything to buy a stock, the transaction cost is zero, so if i buy microsoft, say, at $170 a share, and ten minutes later, i sell it for $172, there's going to be a lot of people tempted to do that. maria: sure. you will want to flip and get in and out of stocks. but in my view that's not the way to create wealth over the long term. i think you don't want to look at every selloff as an opportunity to go knee-jerking reaction all over the place. look, i think you have to assess your portfolio and understand fully -- stuart: you are the voice of calm. maria: yes. i'm not worried about this because i saw this coming. frankly, of course we were going to have disruptions from china. stuart: you saw an 800 point selloff coming? maria: i saw the disruption coming and i talked about it on the air. the reason is because you are going to have disruptions of parts, shortages in components,

everything is made in china. look at the medical services industry, where you've got everything from plastic gloves to masks to 70% of drugs, generics are coming from china and india. yes, you will have disruptions. let's understand fully what the disruption is. let's understand fully what companies we own and how much exposure they have. do it calmly. you don't have to sell everything out today. stuart: do we have a v-shaped recovery? at some point the virus will be dealt with. i don't know when. but when it is dealt with, do we have a v-shaped recovery? maria: i don't know, because it all depends on the duration of this. if this goes on another two week incubation period, then another two weeks after that, then it's going to be longer than people thought. it also depends on are we going to get honesty from china. they have not been honest with us. they knew about the coronavirus back in 2019. they didn't tell anybody and we still don't really know where it originated from because they won't allow the cdc in there. having said that, i think it's important to just stay calm,

assess your portfolio and look at opportunities to get in. this may very well continue for a little bit but there will be opportunities to buy great companies at great prices. stuart: maria, hold still for one second. control your enthusiasm, you might say. we got news on the virus and this is from the world health organization. susan: they just held a press conference in the past hour. i think that's kind of why the stock market trickled past the 800 to 900 points down once again. the w.h.o. despite the fact we have seen a seventh death in italy being reported in the last hour or so, they say it is not a pandemic still. they are reluctant and say it's too early to declare a pandemic but we are still trying to avoid that reality, according to the w.h.o. when it comes to the coronavirus. right now, what they are witnessing is the uncontained global spread of this virus and we are not witnessing large scale deaths. hence it's not a pandemic still in their view. but a twelfth death reported in iran, at least 12, seven in south korea with over 800 cases. seven deaths in italy with 219

cases and 50,000 being quarantined there. globally, 79,000 cases and close to 3,000 deaths. ashley: i wanted to bring home maria's point about everything is made in china. i'm looking at this fine "varney & company" coffee mug. i turn it over and guess what? it's made in china. stuart: the workshop of the world. when it slows down, we all feel the heat on that. but xi jinping is doing, he's moving mountains to try to get this thing behind him. he's going to pump a ton of money into the economy. he's going to order people get back to work. maria: he already did that, right. over the weekend he told some people go back to the factories even as the death toll is rising. i think it's very hard to believe anything coming out of china and by the way, susan just went through the deaths. those are the deaths we know of in the hospitals. china is reporting the deaths coming from the hospitals. we don't know about any deaths in apartment homes or in homes in china. those are not being reported.

i think this is probably worse than it looks, certainly for china, because they have been playing this down from the get-go. we really need the centers for disease control to get into china and start doing an investigation. unfortunately, the chinese will not allow that. but look, unfortunately, this is what we have to deal with. we don't have the real answers from china, but hopefully, we -- the cdc is in america and companies can produce what we need to produce for treatment and ultimately a vaccine even if it's a year away. stuart: heaven forbid there's a serious outbreak in the united states. we have 35 cases so far. very very restricted, limited number. heaven forbid that really expands. maria: that's the reason the president limited air travel. isn't it interesting that the chinese are criticizing us from stopping flights in and out of china when in fact, they've got people locked up in their homes. stuart: exactly. maria: we should be criticized for stopping travel. stuart: let's talk politics. here we go. maria: bring it on. stuart: the latest gallup poll shows president trump's approval

rating is holding steady, 49%, and we have independents, they've got 43% approval of the president. apparently that's a high for the group. doesn't sound very high to me. okay. i will take 43%. i think the president's got momentum and i think he will ride it through to november. that's my opinion. what's yours? maria: i think you're right. look, when you start comparing president trump and his policies to what we have got on that stage the other night for the debate, it's a clear choice. socialism is not going to fly in the face of these programs that the president has instituted that have actually really moved the needle on jobs and opportunities for most people. look at the black vote. this weekend on sunday morning futures i had candice owen. she says minority communities are increasingly supporting the president not because of what he says, because of what he's done. stuart: precisely. lloyd blankfein, former goldman ceo, says he's no fan of bernie sanders. there's a long quote. i will read some of it. i might find it harder to vote

for bernie than for trump. let's leave it at that. might find it harder to vote for bernie than for trump. interesting. he's a democrat. maria: i had dinner with lloyd blankfein with a couple other people right before the election in 2016, and i said to him lloyd, how many people at goldman do you think are supporting trump. he said very little, not at all. meanwhile, i had had dinner with a couple portfolio managers at goldman and they said we love trump. he underestimates the support for trump within goldman sachs and throughout wall street. they understand what the trump administration policies have done nifor their businesses and lives. stuart: democrats are totally split. maria: me canthey just can't se and they don't want him to effect a grip on power. he comes in, you are in the swamp, we will drain the swamp, trying to expose everybody who wasn't doing what they said they were doing. they don't want to lose their power. his very presence is threatening their existence. stuart: i think you're right. thanks for staying up late.

maria: see you tomorrow. stuart: you will. thanks very much. modell's closing 24 hours but the owner says he's seeing signs of hope, a lifeline delivered, no less, by maria bartiromo on friday. mitch modell is on later with another update on his progress. cruise lines falling, of course, on fears of the impact of the spreading virus. you're looking at serious percentage term drops. 8% down for norwegian, 6%, royal caribbean. carnival down 6.5%. big drop. intuit is down 2.8%. they are close to buying credit karma. they will pay $7 billion, cash and stock deal right there. tsa banning their employees from using the popular app tik t tok. there are concerns the app could threaten our national security. bernie sanders' big win in

nevada puts a socialist at the top of the democrat ticket. well, it's the way it looks. he's not at the top of the ticket yet but he's really doing well. that is tearing that party apart. president trump taking his america first message to india, speaking to his biggest crowd yet, more than 100,000 people packed a cricket stadium and the president took the stage with prime minister modi. big cheers. we have the highlights next. ♪ ♪

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stuart: 252 days to the election and the president is on a roll. he's crisscrossing the nation and the world, attracting boisterous crowds. his approval rating is going up. the president has momentum. but who will he face in november? i don't know and we probably

won't know until well into the summer. but the events of the next two weeks, maybe the next ten days, actually, will define the democrat race. listen to this. tomorrow, tuesday, another democrat debate. crucial for mike bloomberg. he bombed last time. if he can't come out strong and presidential, he's going to be sidelined no matter how much money he spends. the same is true with joe biden. this time, he's got to perform, he's got to show some vigor. then on friday, the president will seize the initiative with a big rally in south carolina. he will inject himself into the democrat race just hours before the democrats hold their south carolina primary. at the very least, he will be the energized president. in contrast to some of his 70-something opponents. that primary is another break point for joe biden. he's got to win and also, for mayor pete. he's got to show he can win the support of african-americans. same with amy klobuchar.

without the black vote, no democrat wins the white house. but perhaps the most telling day will come the following week, tuesday, march 3rd, super tuesday. primaries in more than a dozen states including the big one, california. mike bloomberg will be on the ballot for the first time. how many votes will a half billion dollars buy him. eight days from now, the democrat race will be more sharply defined but it will still be a split party going into a split convention. a cbs poll shows two-thirds of voters expect president trump to win re-election, one-third of democrats expect a second trump term. how about that. my next guest is joining us right now. former white house press secretary, fox news contributor, sarah sanders. seems to me, sarah, like bernie is unstoppable, that i think is a huge problem for the democrats. i'm sure you are going to agree with me.

>> absolutely. i wouldn't come on your show and disagree with you. i have seen other guests make that mistake so i won't be making that one today but not just because it's your show, but you are absolutely right. it looks like bernie right now, i mean, it is hard to imagine but crazy socialist bernie sanders is on track to become the democrat nominee for president, and i think democrats should be terrified but republicans should be, too. we can't take anything for granted in this race. i mean, the ideas coming out of bernie sanders should scare all of america but democrats need to really take a step back. this is a historic moment for their party. the socialist wing has completely taken over and is now in control, where the moderate voices are no longer mattering at this point in the race. bernie is on track to win both california and texas on super tuesday, giving him an insurmountable lead in the delegate count and unless the democrat establishment comes in

and takes it away from him at the convention, i think we are very likely looking at bernie sanders as the democrat nominee. stuart: what worries me just a little is if you go back to 2016, how many people were saying donald trump could not possibly win the presidential election, count him out, he's laughable, he's never going to make it, are perhaps republicans making the same mistake with bernie sanders, completely writing him off? what do you think? >> i think republicans being serious shouldn't write bernie sanders off but if you put the two candidates in contrast to one another, i don't know how anybody would want bernie sanders running the country. he wants to do a complete government takeover of health care. he wants to raise taxes on everybody including the middle class, completely destroy the oil and gas industry, killing american jobs. he's a dangerous person to lead the country.

on the contrast, president trump has done exactly what he promised he would do. the economy is booming, the country is stronger than we have ever been, and we have two choices. we can either continue down that path of safety and prosperity and security under president trump, or we can do a complete 180 and walk away from all the good things that are happening in our country and completely give them away under a president bernie sanders. i don't think any rational person wants to go down the path bernie would take us. stuart: it seems like for the first time i can remember in a long time, president trump's huge rally in india and his remarkable reception in india, to some degree has been overshadowed by the increase in the number of countries with a serious virus problem, and the stock market selloff. i think -- i wish we could show more of what the president did in india because i think americans like to see their

president applauded and cheered by foreigners. where am i going wrong? >> absolutely, and what the sad part is, every time something goes well for the president, the media doesn't want to cover it. this isn't the first time. i watched the president participate in dozens of foreign trips and sat in the room where he was negotiating tough trade deals and getting better deals for the united states, and the media never wanted to talk about that, they never wanted to talk about the positive things coming out of those trips. i doubt very seriously that they are going to change and all of a sudden start talking about the fact that 110,000 people came in and went to a sold-out packed arena and they didn't just show up, they cheered, they were enthusiastic, they were excited he was there, and that's a good thing for this country. it shows the president leading on a global stage. it shows the respect that other countries have for this president and i think that is a great thing and i'm glad that at

least there is some attention and some highlight being put on it and hopefully there will be a lot more. not only is it exciting crowds but there's a billion dollar deal that is coming out of that, an arms deal that is huge for the united states as well as better trade that he continues to get, whether india, japan or anywhere else. stuart: the president is on a roll. his approval rating is going straight up. two-thirds of the country thinks he's going to get re-elected. wouldn't you like to be back in the white house alongside the president? don't you miss it now that times are really pretty good? >> you know, i survived all the really tough times and now everything is going swimmingly, i'm back home. honestly, i certainly miss the president, i miss the people i got to work with but i'm so happy to be back home in arkansas and get to spend a little more time with my family and enjoy a little bit slower pace of life. but i'll be out doing whatever i can to help in 2020 and help the president continue to make sure the country stays on the right path under his leadership.

stuart: don't be a stranger to "varney & company." you can come on any time. if you want, you can disagree with me. you absolutely can disagree with me. >> i'm not ready to take that risk. stuart: sarah, thanks very much for joining us. we'll see you soon, i hope. thank you. >> thank you. stuart: let's get back to the economy and the virus. i noticed bottom right-hand corner of the screen, we've still got a pretty heavy selloff going on. it's not a free-fall by any means but it is a serious selloff. down 2% to 3% across the board, the dow, s&p and nasdaq. joining us on the phone, brian wesbury. as of right now, what can you tell us about the effect of the virus on our economy? >> you know, stuart, so far, we have really not seen any major impact on the u.s. economy. just a couple little quick pieces of data. we had the empire state manufacturing index, that's new

york, we also had the philadelphia fed index for february, and both of those were very strong. then we did get this market pmi that's more of a national number, and it was weaker but it's the only piece of data that i've seen lately that is super weak. i'm not willing to say that it's really -- that it's having an impact on the economy. i think people are jumping to conclusions too rapidly. stuart: but we won't get 2% growth in this first quarter. we are in the first quarter now, first quarter of the calendar year right now. we're not going to get 2%, are we? you think we will get 1%?

>> i actually think we are probably going to be somewhere around 2%. look, supply chains are disrupted, there's no doubt about that. there is -- i guess we are seeing this virus spread in other countries, italy and japan and in south korea, but i mean, i'm not a pandemic expert, i'm not a doctor, i'm not any of that, but when we look at this versus sars, versus mers, versus other things, i know it's affecting supply chains but i don't think it's going to be for that long and this is more of a temporary issue. it hit china much harder than it will hit the u.s. but i don't see evidence yet that the u.s. economy is slowing down in any serious way. stuart: brian wesbury, thank you for jumping on the phone short notice. always appreciate it. thank you, sir. talking here about the supply chain from china, couple of stocks affected by that supply chain problem. we've got tesla down nearly 60 bucks this morning. that's a loss of 6.5%. then we have apple, they too have supply chain problems from china. just listen to this for a

second. >> do you have a price tag for all of these things? >> no, i don't. no. you mentioned making public colleges and universities tuition-free and canceling all student debt. that's correct. that's what i want to do. we pay for that through a modest tax on wall street speculation. >> but you say you don't know what the total price is but you know how it's going to be paid for. how do you know it's going to be paid for if you don't know how much the price is? >> you know, i can't rattle off to you every nickel and every dime but we have accounted for it. you talked about medicare for all. we have options out there that will pay for it. stuart: do apologize. bernie sanders there saying nothing about apple whatsoever. not at all. he was really talking with anderson cooper, he was grilling bernie, who struggled to explain how much his socialist agenda would actually cost. we've got another plan, another free plan from him. ashley: he says i can't go through every nickel and dime but we know how he will pay for these wonderful things. off the back of the rich. yes, he has a plan for child care and pre-k education and he's released that plan today.

he says the average family spends close to $10,000 a year on child care, low income families, it can be up to 35% of their household income. he says the government needs to do something about that and they are going to spend, he says, $1.5 trillion over ten years. now, here are some of the highlights. guarantee every child in america free full-day, full-week high quality child care from infancy through 3. provide child care for at least ten hours a day. guarantee every child access to a full day, full week pre-kindergarten education. again, the cost, an estimated $1.5 trillion. who will pay for it? on a wealth tax. all of it. stuart: if that's not buying votes, i don't know what is. ashley: it's like every other area. we will take care of it for you. stuart: in fact, we will bring your children up. we will pay for it. somebody else will pay for it but that's what we are going to do. it's vote buying. susan: he's not sure he can

raise enough money even with the wealth tax to pay for all this. stuart: of course he can't. not even close. we have sports retailer modell's on the show. some of their jerseys are made in china. are they going to see a supply chain problem because of the virus? mitch modell is with us. check that market. we are still down sharply. up next, our bond guy. we will talk interest rates, too. mark grant is with us. ♪ ♪ ♪

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i'm proud to be a part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. stuart: what you're looking at this monday morning is pretty much a 2% to 3% selloff just about all across the board. this is virus trouble, obviously. the other side of the coin is the flight to safety. look at that. the yield on the ten-year treasury all the way down to 1.36%. awfully close to an historic low. mark grant is with us. he's the interest rate man on this program very frequently and he joins us now. mark, we are down to 1.36% on the ten-year treasury yield. do we bounce back at some point, or is this the long march to 1% and below?

>> part of that depends on what the fed does. i think their next move is probably going to be ease but let me talk about something that you haven't discussed at all. you are 100% right, we are at 1.36 which matches the low yield on the ten-year for the last 50 years. the 30-year treasury is at an all-time low yield, so while we are having all this trouble in the equity market, there's a wonderful opportunity in the bond market. i know that a lot of your viewers have some bonds in their portfolio. this is a great time to look at your bonds and if they are over-parred and you have a nice profit, when they mature you will only get par. this is a great time to sell some of your bonds, whether it's corporate, treasuries, munis, whatever they are, and take advantage and take a profit when the equity market's getting crushed. stuart: most people have money in a bond fund, not that many

people actually own treasuries outright or corporates outright. they go to funds. could you make the same profit if you cash out of a bond fund? >> i think you need to look at the specific bond funds and see where you are, but you could have a very nice profit in either bonds or bond funds. you've got to look and see what you own. this could be a great time to redeploy some of that money. so while we have this giant negative in the equity markets, we have a positive in the fixed income markets. stuart: okay. do you see -- i know it depends what the federal reserve's going to do and maybe the federal reserve will cut some more under this kind of pressure, but do you see interest rates keep on going down, down, down over a period of time, down to maybe 1% on the ten-year? can we get there? >> it certainly could happen, stuart. a lot's going to depend on the equity market. if you have a day like this, money's going to be coming out of the equity market, who's kidding who, you can redeploy,

you can wait until you think the opportunity's there, you can buy some shorter duration bonds, there are a variety of things you could do. but if this coronavirus situation continues and the markets keep performing like this, yes, i think you could see lower interest rates once again, as i said, for 50 years we are virtually at all-time lows in treasuries right now. stuart: just an extraordinary situation. mark, we are very glad you could come on the show on a day like this. because this is a day made for you. mark grant, everyone. i'm not tying the selloff to you. i'm just tying your bond expertise. >> don't, please don't do that. stuart: mark grant, thanks for being here. see you again soon. thank you. >> not my fault. stuart: that's true. deirdre bolton is at the new york stock exchange. show me some sectors that are getting hit real hard. deirdre: so the three that are weighing down the markets the most are not going to come as a surprise to you. i'm going to take you through the categories. consumer discretionary. in that you have booking.com, a

travel site, obviously people not feeling too optimistic about travel at the moment. the cruise lines, we talked about the owner of that "diamond princess" cruise that was quarantined. the owner of that is carnival cruise. that stock is at its lowest point since 2014. you also have energy, obviously the overall sentiment here is that if the global economy does falter, does slow, that is certainly bad for energy related companies and then infotech. so many tech companies, chip companies, apple, amazon, we have heard specifically from those two companies, big tech giants, that they are concerned about supply chains. apple of course saying last week that even sales this quarter would be lower than what the company had previously hoped due to these fears and disruption of the coronavirus. i want to mention one of the comments, as i have been speaking with traders here from the floor, i think it's particularly salient, essentially talking about how the information is not clear to

them or the investing community, saying there is less clarity now than three weeks ago, at least from one trader's view, john corpina. that's why he's seeing such a wide selloff. stuart: thanks very much. now then, back to oil. have a look at that, please. i think we are about 50 bucks a barrel. jeff flock is in the oil trading area in chicago. this seems like a fairly orderly selloff, jeff. it's not like it's a tumble through the floor, right? reporter: orderly so far. here's the concern, though. we had, you know, we were down at session lows, we bounced up a little bit just like the stock market bounced up a little, now we are back down closer to session lows again. two, three nickels above session lows again. the concern is that, you know, we had selloffs before, then we had some swings. today, we are not seeing swings. even in the stock market. we are still down 800 plus, right? so what happens at the close? that's the concern.

orderly, yes. so far. stuart: okay. i can see two things happening because of much cheaper oil. number one, we are going to head towards much cheaper gasoline but number two, the big oil companies and certainly the oil drillers, they are going to be in real trouble with oil at 50 bucks a barrel. your last word? reporter: you're right. stuart: good. reporter: "wall street journal" just moved a story that investors are thinking about bailing out of oil companies because of those concerns. stuart: tough one. jeff, thanks very much indeed. for more sectors that are getting hit today, again with the financials, they have come back -- no, they haven't come back. we are still 4% down today all across those big name financial companies. airliners obviously lower, after all the whole travel world is slowing down. far fewer people actually flying around the world and we've got united down 3.8, delta down i think that's 7% down there,

american airlines down 9% now, southwest is down 4%. so the selloff in airlines is actually accelerated since the opening bell. how about the casino stocks. heavily dependent upon macao which is part of china, which really is the world's gambling center. all those casino stocks are way, way down. let's change gears, as in switch gears. president trump wants those tax cuts 2.0. he wants them soon. come in, grover norquist, americans for tax reform. grover, i think this is what's going to happen. i think the president will propose these middle class tax cuts before the election, and dare the democrats to say no, we're not going to give the middle class a tax cut. what do you say? >> oh, absolutely. the president's made it clear and the white house has made it clear that they want this proposal tax cuts part two out at least by september. one argues this might come earlier but the other reason for

september is then it's front and center of the election. it's not something that happened six months ago, it's now. certainly we can see the president says he wants to take -- the white house saying they want to take rates down. they are looking to expand all of the savings proposals, 401(k)s, i.r.a.s, universal savings accounts. stuart: that's the one i like. the idea of expanding to a universal tax protected savings account, bringing in 401(k)s, i.r.a.s, that big chunk of money that's tax protected for middle income earners, i really like that. how about you? >> i think it's a great idea. it's more than half of the american people have a 401(k), half of american households have a 401(k) or i.r.a., and more are in savings programs. getting those numbers up is helpful. if we want wealth disparities to go down, you don't want wealthy people to be less wealthy, have less money to invest. we need higher levels of people saving from all income groups and we need to make it easier

for people to have 401(k)s and i.r.a.s at their office, in their particular jobs, if they are self-employed. stuart: to make sure this gets done, the president has to win a second term and the republicans really have to retake the house. that way, you will get the middle class tax cut. otherwise, you probably won't. >> well, if we don't win the house, the senate and the presidency, what you will get is a repeal of all of the trump republican tax cuts. we will see the corporate rate back at 35%. the democrats have all said this. they are going to take away all of those per child tax credits, they will take the rates back up again. they are not just saying we will sit tight and not give you the trump tax cuts 2.0. they are threatening to take away all of the benefits, all the small business pass-throughs that have lower rates today, they also want to add the energy tax, the carbon tax, the gasoline tax, to make us look more like europe and then in addition to that, they are

talking about death taxes going up. there's no end of additional taxes. even bloomberg, who has moved as far to the left as bernie sanders on some of this stuff, he wants to tax every time you write a check. transaction tax. stuart: they will make me a refugee all over again. grover, thanks for joining us. see you again real soon. >> good to be with you. stuart: bernie sanders doubling down on his support for cuban communist leader fidel castro. wait until you hear what he's saying. after announcing the closing of 24 stores, the ceo of modell's says he's had an outpouring of support. he joins me next with an update on that. and we are talking about china. some of modell's sports jerseys made in china. are they going to see a supply chain problem because of the virus? mitch modell is on the show next. ♪ imagine traveling hassle-free with your golf clubs.

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stuart: that market, we are just taking another turn south, back to almost where we started from at 9:30 this morning when the market opened. we are down 900 points plus for the dow industrials so it's over 3% down for the dow, the s&p and nasdaq's down 3.5%. so we have resumed the downside move. this has just happened. the jury has reached a verdict in the weinstein trial. of course, no word yet on what that verdict is. when we get the news, we will bring it to you real fast. that's a promise. sports retailer modell's announced they are going to close 24 stores. the ceo mitch modell went on maria's show on this network and there was an inpouring of support for modell's sporting goods. he's with us now. mitch modell is back with us.

so you were going to close 24 stores. in comes some support. how many are you going to close now? >> well, we were able to save four stores on saturday. we told the stores on saturday, we were able to save four stores through to the renegotiations with one of our top landlords. as i'm in the hallway, we will announce here, we are opening up our fifth store. we didn't even tell our associates, so i can't announce what the store is, but it will now be five stores that are open. we have another 15 we are saving today. stuart: why is support coming in like this? this is the retail ice age and can be a problem. why the support? what's going on? >> people know we are an institution, and at the end of the day -- stuart: you have been around 100 years. >> 130 years. you know what, with all the retailers going out of business, the last thing the landlords want are empty stores paying commissions on rent, construction costs to new retailers. we figured it out that a

landlord, if god forbid something happens and we can't get resolved and must file in march, they are going to be out two years' worth of rent. stuart: did you put the muscle on them? >> no. we laid out the facts. it's in everyone's best interest. we are here to save union jobs. that's what we are here for. stuart: got it. got to talk to you about china. a lot of your product that you sell in your stores is made in china. i don't know what proportion but very high proportion, i suspect. have you got a supply chain problem? >> we definitely have a little supply chain trouble, mostly in the fleece, sweatshirts, sweatpants, et cetera. a lot of the footwear because of tariffs in the past have been moved to offshore out of china. but apparel is definitely an issue. jerseys, thank god, fanatics makes a lot of baseball jerseys locally but all the football, basketball and hockey jerseys are made in china. we know they are scrambling for delivery. stuart: can you switch it around? can you fairly quickly make that stuff in america? or some place other than china? >> correct.

yes. stuart: can you do that? >> not us, our vendors. that's what they're doing. for the most part, a lot of the sourcing has been moved out of china due to all the tariff restrictions. stuart: have you got the quality product coming out of america? have you got the ability to make it quickly and respond to the market like they do in china? >> it wouldn't be in america. it would be more like pakistan, india, egypt, you know, those kind of -- mexico. dominican republic. stuart: you are in the retail business. you must be in touch with other retailers. are other people also taking their supply chain, if they can, out of china? moving it some place else? >> yeah, but understand one thing, stu. they have been there for years. the training involved, it's just not putting -- you got to cut and sew the goods, you got machinery. there's a big training involved with the people. so it's work in progress. the vendors that have the vision to move it are the ones that are in good shape. the ones that are scrambling now, we know we will see a lot of delays in merchandise. stuart: let's leave it at this.

public support for you and your company following your appearance on this network with maria bartiromo has enabled you to keep five stores open that would have closed? >> beyond spectacular. it is unbelievable. you know, when you see the letters pouring from our associates that on thursday, the life was turned upside down. on saturday they were told we were going to open the stores. one associate, they are not even being closed, i will give up one month's salary to help the company. i will do whatever it takes. we must keep the company alive. this is a sales associate on the floor. unbelievable. the outpouring is incredible. stuart: we like that stuff. mitch modell, thanks for coming back to us, too. good luck. see you later. all right. there's breaking news in the weinstein case, as we told you earlier. what else do we have? ashley: guilty on two of five counts. he was acquitted of predatory sexual assault and first degree rape but he was found guilty by a new york jury of third degree rape, also guilty of sexual assault.

so two of five. the serious one, the predatory sexual assault and first degree rape, he was found not guilty. or acquitted. stuart: of course, the sentencing doesn't take place for some time. ashley: no. stuart: these things tend to ruminate and -- susan: i'm sure he will appeal as well. stuart: he probably will. got that. now, i just got to point to the market again because we have taken another leg down. i keep trying to reinforce this. again, this is not a free-fall. it is a severe and strong downside move and it is across the board. you're looking at a 3.1% drop for the dow, larger loss in percentage terms for the nasdaq, and another three percentage point loss for the s&p. this is really spread across the board. big tech's taking it on the chin, financials, travel companies, airlines. that kind of company, if you are affected by travel or the supply chain, your company has a

problem. the stock has a problem and now we are down 924. by the way, the low of the day was a minus 997 points. we were almost down 1,000. not quite down 1,000. now we are down 925. susan: to give you some context, i think we are following europe, because europe just closed at the bottom of the hour and the euro stocks are down 4% for the day. stuart: 4% down. okay. they led the way. bernie sanders defending fidel castro's communist cuba. wait until you hear his excuse why he's doing that. we have the sound. yes, we are going to play it for you after the break. ♪ ♪ ♪wild thing, you make my heart sing.♪ ♪you make everything... groovy...♪

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stuart: ah, bernie coming off a big win in nevada. now the socialist senator is doubling down on his support for fidel castro. watch this. >> -- totally transformed the society. >> we are very opposed to the authoritarian nature of cuba but you know, you can't simply say everything is bad, you know. when fidel castro came into office, know what he did? he had a massive literary

program. is that a bad thing? even though fidel castro did it? >> a lot of dissidents in prison -- >> that's right. we condemn that. unlike donald trump. stuart: had to bring trump into it. alfredo ortiz is with us, the job creators network president and ceo. alfredo, having listened to what bernie had to say about fidel, i'm inclined to say there goes florida in the election. ain't going to win that one. >> you took the words right out of my mouth, right. he can move right now from a socialist democrat to a communist democrat as far as i'm concerned and with that kind of comment, he's just basically ceded the win of florida over to president trump if he's the nominee for the democrats. i can't even believe he said that. it's unbelievable. stuart: but that doesn't mean -- he may lose the support of cuban americans in florida, but the hispanic community in america is very diverse. it doesn't mean to say that if bernie loses the cubans, he will lose the venezuelans or the puerto ricans or central americans or mexicans.

>> yeah, that's a great point. i think the venezuelans, he probably loses them as well but to your point, i think the puerto ricaning a ins and mexic americans out there, they see the benefits of some of the populist agenda but when you look at what hispanics overall care about, there was a survey done just recently by a left-leaning organization and the number one issue that was brought up, it wasn't health care, it wasn't immigration, it was actually jobs and the economy, and there's no president that has done a better job probably in this regard with hispanics than president trump, and that's why i really believe president trump is going to go away with at least, my guess, 36% to 38% of hispanic vote come november, and quite frankly, even overall, with the black vote, we heard senator tim scott of south carolina predict at least a 50% if not 100% better than he did in 2016 which basically means a 12% to 16% of the black vote as well. stuart: would you just repeat that about what you expect the

hispanic vote for president trump to be? give me those numbers again. >> yeah. absolutely, stuart. again, based on what they say is the most important things to them overall which is jobs and the economy, and they are doing so well under that with record low unemployment, i predict that it's about 38% of the hispanic vote is going to go to president trump in november. stuart: he wins. if you get 38% of the hispanic vote and let's say you just do a little bit better with the black vote, you win hands down. you win. >> yeah. if you go with what senator scott said, 12%, up to 16%, with those two together, you win the presidency, absolutely. stuart: quickly, why the turnaround? because we always thought, we were kind of told that look, the president insulted hispanics when he ran in 2016, but now he's going to generate more support. >> look, i mean, hispanics have never done better than under president trump, actually. again, it just comes down to two words. jobs and the economy. they have done extremely well. if you look at unemployment with hispanics, record low unemployment.

entrepreneurs, hispanic entrepreneurs, for example, stuart, have done extremely well, this year alone they expect to come in about 75% better in revenues than they did the previous year, on top when you look at entrepreneurship overall, hispanics are real supporters of entrepreneurialism. who supported ideals of free enterprise better than president trump with record low taxes and deregulatory environment. so, again my prediction, that he will really comb ahead in november with hispanics. again, as senator tim scott said, with blacks as well. stuart: thanks for joining us. always appreciate it. >> thank you, stuart. appreciate it. stuart: breaking news. back to the weinstein trial, guilty on two of five counts. i want to go through them for you. count one, predatory sexual assault, not guilty. count two, criminal sexual act, first-degree. guilty. count three, predatory sexual

assault. not guilty. count four, rape in the first-degree. not guilty. p count five, rape in the third-degree, guilty. there you have it. there were five counts. found guilty on two. not guilty on three. >> based on that he could face up to 25 years in prison. the most serious one being a serial sexual predator could have meant a lifetime sentence. acrited on that particular charge but still faces up to 25 years. i presume there will be an appeal. that is almost automatic i would suggest. susan: highly likely. stuart: you won't get any kind of sentencing for some time i would imagine. ashley: no. stuart: so these charges, are not the charges but the guilty verdict on two counts, that is going to stand. it will be mulled over and debated at great length i'm sure and that is the breaking news story of this hour. susan: should be noted this case

was a milestone for the "me too" movement. this inspired women to go public with their allegations and sexual assaults they have experienced in the past. stuart: okay. tell you who is coming up with neil just moments from now. neil will talk to former nyse chairman, chief executive, dirk grasso. i have time to tell you we're in the middle of quite a selloff on wall street. i must insist, this is not a freefall by any means but it is a very sharp decline. we're down 900 on the dow as we speak. my time's up. here neil. neil: neil, a large number. people raised their eyebrows here. you and i can remember covering the '87 crash. we dropped over 500 points. that was a quarter of the dow value at the time. in percentage terms i'm not trying to gloss over this, not as bad as would appear. knee-jerk reaction. stuart: not a freefall by any means. neil: exactly. great show, my friend. we'll pick up the baton.

the coronavirus fears it is spreading, affecting the global supply chain. now that it touched italy, south korea, iran, iraq, a host of european markets. that is a development we have not seen in the past. now we're going to iron this out in just a second here. to put it in perspective, those in europe now concerned about