bernie sanders can beat donald trump. don't think that is true at all. stuart: market jitters if bernie gets the nomination but no way he will win the election? >> parallels to trump when it comes to energy and under enthu. stuart: i remember that well. neil: remember in the carter administration, no way reagan could win or no way donald trump could wing. be careful that consensus. you never know. don't get me started on lincoln. great show. thank you my friend. you are seeing extended losses from yesterday. the dow 6% from the high. this market is waning, begging for a correction. certainly enough developments today to signal in that direction. the cdc is saying telling americans to prepare for the spread of the virus. it is leaving out how much of the spread but the 53 cases we know of already in the country, invary will go up.

goldman sachs restricting travel from south korea, northern italy. the president from india, looking much more reassuring tone than he is hearing elsewhere. take a look. >> looks like h they're getting it under control, more and more under control. i think that is a problem that will go away. we lost almost 1000 points yesterday on the market. that is something, things like that happen. you have it in your business all the time. had nothing to do with you. it is an outside source that nobody would have ever predicted. neil: continuing today. that disturbs a lot of market technicians who generally like to see a rebound after 1000 point hit. just because we're under water on some averages over the year, they're up appreciably over the past year. deirdre bolton what is driving the latest follow-up selloff from the new york stock exchange. >> at least if you judge by the sectors putting the most weight on the markets it seems to be

the coronavirus's potential effect on the global economy. that is really the biggest worry. that is what we're seeing drag down the markets. i like you showed the dow intraday. we were up 180 points. now we're down more than 270 right this second so let's talk about some of these groups. energy, materials, industrials, these are all groups that obviously people bet on when they think the global economy is expanding. the fact they're falling shows you that fear factor there is one stock, more than one, one in particular bucking the overall trend, this is moderna. this company actually shipped the first human ready vaccine to the government and 20, to 25 healthy adults agreed to be part of a study, neil. essentially we'll not know the results if the potential vaccination against coronavirus, we'll not know basically until july or august if it is

effective but the clinical trials with the healthy humans are expected to begin in april. there is a lot of optimism obviously behind this. that is pushing that stock higher. as you can see, some other biotechs not faring quite as well. going through other stocks affected more of a business case, there is this company, zoom video, as more and more people are afraid to work together, be in crowded spaces together investors bidding up company, more and more people will telecommute from home. one company that will benefit from the move. flash back to consumer confidence. as we know 2/3 of u.s. gdp coming in slightly lower than expected. the figures on your screen. take a look at some of the retail stocks in reaction to that. home depot is the only one moving higher, on surprise better-than-expected earnings and sales. also the dividend going higher, you remember this too, neil. they took down their estimates

two times. the bar arguably lower to clear. neil: thank you, very much, deirdre. markets are certainly worried about this virus. 2020 could cause a worse scenario for the markets. take a look. >> i think that frankly until the election is over our market is phenomenal but our market will jump thousands and thousands of points if i win. if not, you will see a crash like you never seen before. neil: thousands and thousands of points if i win. saying if someone else wins, not thousands and thousands of points. blake burman from the white house. reporter: we heard president trump make that prediction before, if a democrat were to end up in the white mouse in 2021 the stock market would crash, however what was notable this time around is that he made that assessment overseas as he was speaking to business leaders in india earlier today. now the comments of course came after that 1000 point selloff on the dow yesterday due to

coronavirus fears. this morning before the market opened up the president was very cognizant of what was taking place in the premarket hours, watch. >> but fact is, other than yesterday, which was something pretty bad with respect to the virus and we'll see what happens, i see the futures are up today, up fairly substantially. but that is very serious thing but we think we're in very good shape in the united states. reporter: of course as we know we've seen a 180 since that. meantime last night the trump administration said it would be requesting $2.5 billion spending package from congress to combat the coronavirus. the top democrat in the senate chuck schumer though has been heavily critical of the president's response and took to the senate floor this morning saying it should be $3.1 billion. >> president trump meanwhile has said that the coronavirus might, quote, miraculously fade once

the weather gets warmer. towering and dangerous incompetence. reporter: in his press conference in india this morning the president said, whatever number he had put forward would not have satisfied schumer. >> i see that chuck schumer criticized, he thought it should be more. if i gave more he would say it should be less automatic with these characters. they're not, they are not just good for our country. reporter: schumer adds, neil, he believes that the president should have a point person on the coronavirus. that is not a political appointee an instead is a global health expert. neil? neil: blake, thank you very much. blake burman at white house. former new york stock exchange chairman dick grasso said the virus could provide an opportunity. you reopened markets after 9/11. you were prepared for the selloff that ensued not only the first day but the trading days

after that but you were confident things would stablize and they ultimately did. that is a scary ride for a lot of folks though. >> you're right, neil, i'm saying do nothing, those who are owners of stock and considering should they make a sale now? the answer is history will prove you to be wrong if you do. how many times have you and i said to ourselves after the election of donald trump, gee, what a great opportunity i missed when the dow was at 16,000, 18,000, 20,000? now it has come in a little bit. it is down 3%. why not, dip your toe in the water? neil: in other words, what he is saying a lot of market legends say this, you can't catch a falling knife. no way you can predict the absolute bottom but long-term trend is your friend. charles schwab chief investment strategist mentioned that once or twice. liz ann sonders can with us now. he saying don't freak out but that is hard to do of late.

what do you do? >> as we have often said panic is not an investing strategy. i think too often investors think of pivotal points in the market as all or nothing decisions. in fact one of the common questions i get on tricky days like yesterday, carry on today, are you telling investors to get in other get out? neither get in or get out is an investing strategy. that is gambling on a moment in time. investing should always be a process over time. the whole act of diversification and art around rebalancing you need to keep in mind on perpetual basis. the reality if you have the mind-set towards discipline you would have been trimming high-flyers in areas in the market that had grown to outsized weights in the portfolios. the beauty of rebalancing it forces us to do what woo we know we are supposed to do on ongoing basis or buy low sell high or add low, trim high. that is not all or nothing

decisions at a moment in time especially when you're in a pretty tumultuous drop in the market for outside shock reasons neil: for variety of reasons that confound history i mean this market has generally held up very, very well for the 11 plus years we've been enjoying the bull rampage, with even very few 10% corrections. >> yeah. neil: we're zeroing in on that for the dow, down a little more than 6% from highs. s&p a similar amount, but not quite 10%. would that be a cleansing process to you that we need? others go so far to say no, we need a 20% correction. where are you on this? >> i think having a normal market environment where you get at least one 10% correction a year is a healthier market than one that goes straight up without stopping. melt-ups as i suppose enjoyable as they are, if you're long equities while they're happening, as we have learned many times in history melt-ups

tend to be followed by melt-downs. you don't want to be in unidirectional market. to some degree what we saw heading into the first announcement of coronavirus was a market from an investor sentiment perspective had started to get frothy. i wrote a report in mid-january about some investor sentiment measures that showed an extreme optimism, even greater than what we saw in the 1999-2,000 period. that in of itself as contrarian indicator doesn't suggest vulnerability but it does suggest that the haverer vulnerability if you get a negative catalyst. we got one with coronavirus. i think we would have less of a downturn if we didn't just have such optimistic sentiment where investors are already in or all-in. neil: i reviewed everything you said there focusing on today after yesterday but i hear from a lot of folks to sell off after a big 1000 point selloff is

destablizing sign. do you agree with that? if we end up today down few hundred points other more, that is worrisome development? >> not necessarily. you know, to your point, neil, we're down on an intraday basis today about 6% from the high in the s&p. that's obviously shy of what is traditional correction. there are instances where you get a big downturn on a monday and often tuesdays are called turn around tuesday. neil: right. >> but i don't think any two-day period is a tell from a technical or sentiment perspective. if it was, this would be real easy thing. we could look, okay, down mondays are followed by up tuesdays, if that is the case what does the rest of the year look like? it is never as easy as that. i think investors ought to go back to the tried and true disciplines. what is unique about this virus is a lot of cops to sars of 2003

are valuable comparisons from a virus perspective, the medical community trying to make the comps. the big reason, why the impact is greater is china as weight in the overall economy, is four times bigger than it was in 2003. more complex global supply chains. their consumers become more dominant. why we're hearing from u.s. companies the impact that is having on the demand side this is both a supply shock and a demand shock n an environment where china has become much more integral part of the global economy. i think that is why this is a bit more difficult to assess than even something like sars in '03. neil: very good comparison too. liz ann, thank you very, very much. appreciate the perspective. >> thanks, neil. neil: john bussey here with the "wall street journal." what is interesting looking at today and what happened, i'm wondering if a little of the back and forth between chuck schumer and the president over this whole thing is adding a little bit of gas to the fire?

what do you think? >> politics, it is schumer and pelosi criticizing president, not preparing enough, not spending enough on preparedness, not being forthright in the risks involved here. basically kind of talking down the risks of the spread of the virus saying look, looks like under control in the united states. neil: it worries investors when they hear evidence to the contrary, right? >> as president of the united states you don't want to panic. neil: right. >> you don't want to fan the flames and cause the market to go down further, cause people undue concern. saying it appears to be under control, tell that to italy or to iran or korea where it just blossomed and they're not even sure how that happened and it spread quickly that could happen here too. you know, are we prepared and does the president by look -- this country restricted travel to china very quickly and very early, to the credit of the

administration for doing that, very provocative, not something that china wanted. creating concern in china it was being isolated. it was pretty smart to have done that as it turns the out but if you, if you say things look like they're under control here and you kind of downplay the need for preparedness that makes it hard for those in charge of preparing to say we got to do more and we're not prepared. neil: maybe that is why the health and human services secretary alex azar recalibrated enough to say we're not through the worse. we could have more cases than the 53 we do now. i'm paraphrasing. he seems to be telegraphing folks we're on top of this but there will be problems with it? >> getting the test kits right out of cdc has been a problem. it doesn't look like we're particularly well-prepared for this. it is not something you need to panic over but problem the could emerge the way it has in other countries and spread quickly, and we need to anticipate that.

>> john bussey, "wall street journal," thank you very much, my friend. >> of course. neil: stocks are dropping but interest rates are dropping, the dow down 305 points here but what is interesting interest rates keep slip-sliding away. record low for the 10-year and 30-year. record low for mortgage rates as well. some lenders are pushing 3% 30-year fixed mortgages. i will not tell you the old story how my wife and i were paying that per day when i got our first mortgage but my wife and i were paying that per day when we got our first mortgage. stay with us. ♪. don't just plan to retire. plan to live. an annuity helps cover your essential monthly expenses, so you're free to live the life you want. find out how an annuity can give you lifetime income at protectedincome.org

the better question would be where do i not listen to it. while i'm eating my breakfast... on the edges of cliffs... on a ski lift... everywhere. ♪ download audible and start listening today. (woman) no matter what business you are in, digital transformation never stops. verizon keeps business ready for what's next. (man) we weave security into their business... (second man) virtualize their operations... (third man) and could even build ai into their customer experiences. we also keep them ready for the next big opportunity. like 5g. (woman) where machines could talk to each other and expertise could go anywhere. (woman) when it comes to digital transformation, verizon keeps business ready. ♪

how you watch it does too. tv just keeps getting better. this is xfinity x1. featuring the emmy award-winning voice remote. streaming services without changing passwords and input. live sports - with real-time stats and scores. access to the most 4k content.

and your movies and shows to go. the best tv experience is the best tv value. xfinity x1. simple. easy. awesome. xfinity. the future of awesome. neil: we are revisiting session lows for the dow down 352 points. 27 of 30 components are down, down a lot i might point out

here as swoon continues, 6 1/2% from highs as we talk about the dow on february 12th, that recently. markets are not worried so far about bernie sanders. that is a separate issue but they might soon if his plans start looking like reality as well as his prospects for gaining the white house. jackie deangelis is here. good afternoon, jackie. reporter: good afternoon, neil, one of the issues with bernie sanders he never answers the question how he will pay for it. sanders releasing detail on his website for all. let's look at them. canceling student loans, costs 2.2 trillion. raises it from a modest tax on wall street speculation what he calls it. expanding social security, if you make over 2 a thousand dollars, you will pay for that. housing overall, 2.5 trillion, for knows net worth over $32 million. remember that is money that people already paid tax on. then there is eliminating medical debt that will,

79 million americans actually owe $81 billion in outstanding bills. higher taxes on corporations, that will fund this one. "green new deal," 16.3, trillion. most comes straight from corporations in his plans and a cut in defense spending. "medicare for all," corporate tax reform, taxes on extreme wealth, return to higher estate tax, higher tax on capital gains, the plan looks like it will cost individuals and companies a little less for their premiums but the concern here then is the quality of the care. finally, neil, bernie is doubling down on the comments we talked about yesterday, ones he made about cuba and castro condemning authoritarian regimes but praising castro for bringing people out of extreme poverty. this is clearly outrageous to many people who say sarcastically right, castro did some good except for that whole authoritarian thing. neil: outside of that, thank you very, very much, jackie. paul ventura says president ronald reagan warned against

socialist presidents some 40 years ago, and that his warning is ringing true right now. explain, you know, paul. i heard that as well. we heard about the big state and all of sudden taking over all aspects of our lives, famous inaugural line, the most frightening words are i'm here from the government and here to help. he did telegraph a lot of this, didn't he? >> he sure did, neil, this radio commentary started in 1975. it was right after mr. reagan left the california governorship and right before he ran for president but i pulled out these commentary as few weeks ago. i was struck by how well they held up. they held up so well because he was talking about principles. he wasn't talking about politics. the main principal being, that like i do, with very few exceptions man can almost do everything better than government can do. that is what you hear in the commentaries all throughout the five years and reality is,

president reagan was preaching these themes and warning against these themes as far back as the 1950s. it was the presidency that elevated him and gave him a larger voice. neil: think about it, paul, some of that robbed off a future british prime minister named maggie thatcher, who said with socialism you eventually run out of other people's money that was a powerful one-two punch in the '80s and beyond but we're a long way from that potentially reversing that? >> we're a very long way but i'll tell you what, it is disconcerting but you know, neil, i think a big question that i think deserves to be answered, what is drawing so many young people to the philosophy, to the ideology? president reagan alluded to it in his commentaries. he talked about it being a spiritual issue. i know this is an economic show but i think the issue is far more than economics. there was a mathematician in the 1500s named blaze pascal, who

talked about the fact there is god-shaped vacuum in every human heart. i think young people today, and the liberal around socialists today are looking for something, they're looking for government to fill that god-shaped vacuum. that is not something government can do. you know, there is another, st. augustine who said i'm restless until i rest in thee. these are spiritual questions i think the big question young people and other people have to answer is, what is it that you're put on this earth to do? what kind of dreams have been given? who is directing you along the way? ronald reagan talked about that all his life. he was a deeply religious man, deeply spiritual. you hear that in these commentaries. neil: if you think about it, too, gerald ford hopped on this at the same time, a government big enough to give you everything you want and also big enough to take away everything you have. that was reagan view, be careful what you wish for.

you might just get. >> my mom said be careful with people generous with other people's money. that is something we see with bernie sanders. he is very good at doling out money he doesn't have although political life has been very good to him. three houses and obviously steady income but it is a definitely a concern. neil: big concern. we're watching it very closely. paul, thank you, very, very much, interesting read on the gipper what he was warning about four decades ago. we're warning about a selloff thatting accelerated yesterday so the last couple days we're looking at 1400 point fall to the dow jones industrials. now close are we to another 10% correction? another 3%. we'll have more after this. eas. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right.

usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. usaa quadrupled their money by 2012, and even now, many experts predict the next gold rush is just beginning? so don't wait another day.

physical coins are easy to buy and sell, and one of the best ways to protect your life savings from the next financial meltdown. - [announcer] today, the u.s. money reserve is releasing official gold american eagle coins at cost, for the incredible price of only $159 each. these gold american eagles are official gold coins of the united states and are being sold for only $159 each. - pick up the phone and call america's gold authority, u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. - [announcer] today, the u.s. money reserve is releasing official gold american eagle coins at cost for the incredible price of only $159 each. these government issued gold coins are official u.s. legal tender, made from solid gold, mined here in america,

and fully backed by the united states government for their gold weight, purity, and content. do not delay, call now to purchase your gold american eagles for the amazing price of only $159 each. gold is now on sale at prices unseen in years, and this year could be one of the greatest gold buying opportunities of all time. call now while vault inventory remains, and as one of the largest u.s. gold coin distributors in the country, u.s. money reserve has proudly served hundreds of thousands of clients worldwide. don't wait another minute. call now to purchase 1/10th ounce gold american eagles for the amazing prices of only $159 each. neil: with stocks retreating here, a lot built on the notion things will slow across the globe. that is one of the reasons why

oil prices are down again today, hovering over 50 bucks a barrel. we're watching that. for consumers between the lower interest rates and cheaper oil and gas price, it could be a salve to those hoping to save money even though they might not be saving much there. constructive developments, certainly on the inflation front. anyone at all worried about the possibility of interest rates up. that is not happening today. 10-year lowest ever been by historical measures, 1.33%. meantime a great surprise is combining with lower demand. and that is helping wine prices come tumbling down. there is that too. robert gray at vineyard in california. with the latest. hey, robert. reporter: neil, that is right, given the week on wall street a correction in wine prices might be good news for investors when they need it this week, right? in all seriousness there has been a bit of a grape glut if you will.

some wine growers not big fans of that term, especially when you think about a couple years ago there were concerns about not having enough grapes. so what we have seen though is really the supply ramping up over the past decade. some 13% increase over the past decade in grape-bearing acreage. that left them harvesting fewer grapes last fall as so many grapes came online. the demand was waning. down 9% from 2018 which was a record harvest. tens of thousands of grapes were literally left on the vine, not harvested in particular to be bottled. the second smallest harvest in the past decade. grape prices down 5% last year. take a look at this chart. if you look at it, very end of the chart. 1% drop in demand in wine consumption last year. that was the first downturn in a quarter of a century but some in the wine industry actually say a little bit of a reset could be a good thing for the long term in the industry.

>> when wine gets more affordable it becomes more competitive with all of its competitors, with spirits, hard sellers, marijuana which is legal in california. there is a lot of choices. wine being more affordable, that is a great thing. >> other winemakers say they could probably get more millenials to come in particularly at lower price points. if you're think about deals, what you will see the private label brands and some secondary winers bottling it up. as far as estates here because they are picking fewer grapes you get a better quality grape while the price point may not be lower but the wine should be sweeter. back to you. neil: thank you, robert gray. the wine crisis is hitting italy, but that you know but it is also hitting hollywood. i will explain.

if you have postmenopausal osteoporosis and a high risk for fracture, now might not be the best time to ask yourself, 'are my bones strong?' life is full of make or break moments. that's why it's so important to help reduce your risk of fracture with prolia®. only prolia® is proven to help strengthen and protect bones from fracture with 1 shot every 6 months. do not take prolia® if you have low blood calcium, are pregnant, are allergic to it, or take xgeva. serious allergic reactions like low blood pressure, trouble breathing, throat tightness, face, lip or tongue swelling, rash, itching or hives have happened. tell your doctor about dental problems, as severe jaw bone problems may happen. or new or unusual pain in your hip, groin or thigh, as unusual thigh bone fractures have occurred. speak to your doctor before stopping, skipping or delaying prolia®, as spine and other bone fractures have occurred.

prolia® can cause serious side effects, like low blood calcium, serious infections, which could need hospitalization, skin problems, and severe bone, joint, or muscle pain. are you ready? ask your doctor how prolia® can help strengthen your bones.

neil: president indicating things are under control when it comes to coronavirus ad threat in this country. the health and human services secretary warning about the spread of the virus, preparing americans for that possibility but not trying to freak them out though. it is a delicate balance. edward lawrence on capitol hill. hey, edward. reporter: a tell cat balance that will cost money, neil. it will be very expensive to keep the coronavirus getting a

foothold here in the united states. $2.5 billion extra what the administration wants. 1.2 billion to help with development, research of a vaccine. not all of the money is new money. some would be diverted from the ebola prevention fund but some on bottom line will be new money. $1.25 billion would be new money to stay aggressive against this virus. >> we cannot hermetically seal off the united states to a virus and we need to be realistic about that and so this virus -- >> life goes on in some form, doesn't it? >> it does. we'll have more cases in the united states. we've been very transparent about that. they will then work to mitigate the impact of those. reporter: azar is concerned about the sustainability of human-to-human transmission of this disease, specifically this happening in italy and iran. you're looking here at a live video of the testimony he is giving. there is bipartisan support for more money. senator richard shelby says this

is low ball number. house speaker nancy pelosi says it is inadequate for the scale of the emergency. senator chuck schumer wants $3 billion in new money, not diverting any of it. he wants a czar appointed to coordinate any response. democrats agree. >> we can and should do more. i support this request for a dramatic increase for funding for this purpose now, now, before it spreads across the united states which god forbid it ever does. we don't want it to. we want to make sure we've done everything in our power to stop it and that means empowering those in charge with the knowledge, with the expertise, and with the authority to protect our families. reporter: and from the administration this request will cover buying more medicine, stockpiling it, stockpiling masks. helping state and local governments, getting hospitals ready for this if the virus does spread. also creating that vaccine as well as a better surveillance system, expanding expanding thae

are coming in, back to you, neil? neil: thank you very much. coronavirus is hitting hollywood. tom cruise's "mission: impossible" 7, i had no idea there were six other movies. it is halting filming in italy because of the virus outbreak. we have lenore hawkins in como, italy right now what they're doing to contain this. what are you hearing lenore what are you saying? >> a lot of confusion frankly. so on friday, things really got kind of crazy. woke up friday morning it was a normal day. by the end of the day on friday we found that a bunch of towns, about a dozen towns in the region are being basically quarantined on monday. monday, la republican one of major newspapers here huge headline half of italy is quarantined. obviously that was not true. very next day, that same

newspaper had a little bit after small headline that the governor of the lombderia region, that the coronavirus is not a whole lot more than just a flu. obviously people are scared. people are confused. now you're getting all those images in social media make it look like this is apocalypse here. outside my door here in como. como is 40 minutes north of milan and it is about 15 minutes from lugano. just today a case, switzerland got their first case. i walk outside of the door, it is just life as normal. the only people i saw with masks were two i'm certain two chinese tourists. everyone else is having a normal day. neil: with these 10 cities, i think it is up to 10 cities, lenore, they don't call it quarantine or lock down, i don't know the terminology, what is going on, similar to what happened in the large cities,

far greater numbers of people in china? what is going on? >> they're trying to get everyone to just stay home. what they have done in the entire region. they're really trying to get people to not leave their homes. in all of the lombdier region they have all masks. no going to church. schools and universities are closed. they asked people not to go into work and work from home as much as possible. all sporting events have been canceled. this weekend the biggest soccer game for the season in italy is going on, for logistical reasons they can't change the date the match will go on. there is no one in the stands watching it. it will behind closed doors. they're trying to get people to stay home but, it is at this itt easy to get people to follow the rules. neil: italy. i can say that. enjoy your stay.

lenore hawkins in como, italy. this is getting weird with different reads from officials here. white house saying things are under control. the health and human services secretary indicating they're on top of it. separately the cdc put out a statement that americans should embrace the likelihood virus spreads in the communities in the u.s. going on to say, this is coming from the director of the national center for immunization and respiratory diseases, i quote here. not so much of a question if this will happen in this country anymore, but a question of when this will happen. meantime, coming up the length some young people are going to having nothing to do with the virus but everything to do with avoiding living at home with mom and dad. after this. as a struggling actor, i need all the breaks that i can get. at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance

so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

neil: a good thing when rates are sliding. mortgage rates sliding too.

we told but 30 year, some get a lot lower than that, somewhere 3.15, 3.25%. this is fast moving developments that would be a boon to younger buyers. with that theme in mind, a trend that we're seeing on part of them, that is gaining a lot of attention in brooklyn. kristina partsinevelos in brooklyn. reporter: the trend is all about coliving. i'm taking advantage of a coworking space, part of then right now. what is then? what they do, take buildings, work on renovating with third party tenants, and rent them out to people, more specifically anybody that wants to be a member. what you do, sign on to the website. meet with a person, you spend 1100 to $1300 on a bedroom. what then does, take you through a survey, they find out what your needs are, what your hobbies are, an pair you up with other people so you're living in a joint apartment together, much

like a co-living space. i spoke to one guy, daniel, he recently moved here. he talked about why it is so important to find that sense ever community at an affordable rate. listen in. >> we really do enjoy like going to restaurants and having fun together, to promote that idea of you know, coming together and gathering together and doing things together, so you're not buy yourself. reporter: that was the key thing for a lot of the people here. you come move to a big metropolitan city, you often feel very alone, and you can't afford a full one-bedroom apartment. you choose a then or other co-living space that cost 1100 to $1300. the way thin the company makes money, they get the fees from the tenants but get a fee from property managers or landlords as well. i spoke with one of the cofounders and they are based, start-up from israel. i spoke to one of the cofounders said they're not like wework. listen in.

>> we learned a lot from wework's mistakes. we learned the risks to what wework did, put them with a lot of risks. we realize we learn from their mistakes, by signing management agreements and not master leases with the landlord. reporter: neil the common at, two major themes, the fact it is really expensive to live in a lot of cities, affordability. the second thing the connection, people want to be in a sense of community, they want to event plan. that is what they provide. pot lucks once a month, meet-ups, go shop together, drink together, music venues and use co-working and co-living spaces to meet people and not living alone. that is what venn city is doing. neil: makes a lot of sense. home depot is rising with strong earnings and robust housing markets. didn't hurt matters that they

hiked the dividend as well. the three big dividend plays in the dow, home depot, microsoft are standouts, are gaining while the other 27 are declining. keith fitz-gerald on that. not the other 27 don't pay dividends but they seem to be more sensitive to this virus. what do you make of that? >> i think you're spot on, neil. i think that the sensitivity to the virus is critical because investors are beginning to look for places to hide and importantly to things that we talk about all the time. they're looking for businesses that have the capacity to grow even if the virus hits. neil: what is kind of weird as we enter session lows? half the ground we lost yesterday, we're losing today. i'm wondering, even in the face of pretty good numbers, and very good earnings for most of corporate america, they're all getting caught up with the exception of those names i just mentioned in this selloff. is it overdone in your eyes? what do you think? >> no. unfortunately i don't think it

is overdone. yesterday was all about the computers t was about the knee-jerk reaction. now what you see is very human element to this. you will see fear creeping in around the edges. to the extent that has not been factored in, vis-a-vis the conflict between the cdc and politicals are saying it is under control or not under control i think there is still some downside to go. neil: when you say downside to go kind of spell out what you're worried about. >> i tell you worst case scenario it is couple thousand points and that is if, with big ifs, if the virus is widespread and self-sustaining blooms in major urban areas like new york or los angeles for example. on the other hand the bright spot on all this we'll reinvent the supply chain. we'll bring home medical supplies. there are companies out there working on vaccinations could in fact be very profitable not only for them, but for investors and for society as a whole. so worst-case scenario couple thousand points. odds on we see volatility, drift

sideways a few weeks until it sorts itself out. neil: thank you very much, my friend. we'll keep their fingers crossed. a lot of people with the sell button. dow at session lows down 463 points. bucking the trend home depot out with better-than-expected earnings and hiking its dividend. that is approaching 3.2%, a lot more than on the 10-year note these days. mcdonald's and microsoft also bucking the trend. microsoft by comparison 1.25, 1.3%, about evenly match. the difference there you get an appreciating stock, at least today. more after this. ♪

♪

the end might not be as happy as ayou think.end. after all, 4 out of 5 people who have a stroke, their first symptom is a stroke! but the good news is you can rewrite your ending and get screened for stroke and cardiovascular disease. life line screening is the easy and affordable way to make you aware of undetected health problems before they hurt you. we use ultrasound technology to literally look inside your arteries for plaque that builds up as you age- and increases your risk for stroke and heart disease.

so if you're over 40, call to schedule an appointment for five painless screenings that go beyond annual checkups. and if you call us today, you'll only pay $149-an over 50% savings. read it again, papa? sure. i've got plenty of time. life line screening. the power of prevention. call now to learn more.

♪. neil: all right. taking a look at this stock selloff here, putting this in perspective i was just talking to our charlie brady our stocks editor, i love the guy, a genius, wicked smart. a wicked smart update, he is telling me the dow close to 7% from its highs. i believe they were reached on february 12th. s&p down 6.3%. i know lows were reached on february 19th. we're not talking about that long ago. the nasdaq still holding its own. you never know where things can go. this selling on top of yesterday's selling has some folks a little bit anxious. days away from south carolina democratic primary. joe biden is backing off the comment that is the state is a firewall. he holds a narrow lead above bernie sanders. it is not the 20, 30 point lead he was looking at a few weeks ago. the attorney general of that state with us. mr. attorney general, thank you for taking the time.

>> neil, good to be with you today. neil: if bernie sanders would win in your state, by and large the moderate to conservative state, what do you think he would do in a general election versus the president? >> first off, i'm not quite sure bernie sanders will win south carolina. i do believe this state is still pretty strong for biden although compared to the three previous contests, south carolina is a little bit different. i think it is a little bit more a microcosm of the country t doesn't have the caucus system which is a little bit cumbersome for voters. you have a higher voter turnout. you will have higher african-american turnout. you will get a better picture after this weekend. it is the last time someone speaks out as a candidate before super tuesday in a few days. when you look after this coming saturday when the voters have spoken in south carolina we'll have a better idea how diverse a reach bernie sanders has on a national level. i still think it is too early to

tell. i told my republican friend people should not take bernie sanders for granted. he is a radical leftist. he is extreme in every way possible. i think average voters in the moderate democratic wing are obviously all conservatives will be against him but he is a real threat and i think the republican party around president trump will take him very seriously next november. neil: much is made of the african-american vote in your state certainly for democrats counts as majority of votes. how that pans out is anyone's guess. you would know better than i. the trump folks talking bin creasingly getting a higher share of the african-american vote. senator tim scott of your fine state he thinks the president can do 50% better than the black vote he did in 2016. he got 8% last go round could get 12%, up to 15%. what do you think? >> i do agree with tim scott i think the president will do better with african-american electorate in certain areas of the country. i haven't looked at statistical

data and anecdotally i'm spooked to moderate black voters, many who were not fan of president, they were telling me they can't deny and argue with the results he has gotten. many black voters don't like a lot of rhetoric, sometimes the way the president communicates through twitter or through other social media platforms but they can't argue with the results that he has accomplishing. i do believe that is a appealing to a lot of black voters who really do appreciate the president's efforts. neil: we shall see. thank you very, very much. >> thank you, neil. neil: attorney general of south carolina. meantime we're getting some confusing signals out of government officials, health officials. the administration saying one thing about having this virus contained at least in the united states. the cdc indicating it could get worse in the united states. they're bickering over how much money should be provided. the white house asked for 2 1/2 billion. right after that chuck schumer takes to the airwaves saying it

should be a lot higher than that it is a mess, confusing, in that chasm folks are selling. stay with us. ♪ that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence.

that's why we go beyond the numbers. their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company today... to request this free, and very helpful, decision guide. and learn about the only

medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan

options and rates to fit your needs oh, and happy birthday... or retirement... in advance. neil: the corona crunch continues now with the virus, just trying to get a handle on it. the cdc is already warning americans to brace for a likely outbreak here. they didn't say to what degree or how worrisome it could get, as we are getting reports out of rome right now that the civil protection officials say the number of virus cases in the country has increased 45% in the last days. keep in mind they have tent cities under not what they call lockdown but quasi-quarantine so nothing like the 60 million chinese still under quarantine over there, but a sign of worry certainly over there. susan li has the latest on all these fast-moving developments.

susan: we just heard from the cdc in the past hour and again, of course, preparing americans for disruption, they say stemming from the coronavirus and they say possible community spread of the illness so now's the time for businesses, for hospitals and communities and schools to prepare for a possible response. they say 12 states now across the u.s. can test for the coronavirus. here in the u.s., relatively contained so far, just 35 cases that have been confirmed, no deaths, but we do have the stock market reacting to this uncertainty. we are down just about 1500 points in two days, down for a fourth straight session here. the white house as you mentioned has been asking for $2.5 billion to help fight this spread but regardless, you can count on politics to enter the picture. >> coronavirus which is very well under control in our country, lot of talent, lot of

brainpower is being put behind it, two and a half billion dollars we're putting in. susan: here's some good news, though. >> apparently human-to-human transmission with no identifiable connection to existing cases, that is very very concerning. susan: 35 cases in the u.s. and some good news overnight from china, because it looks like the growth of the illnesses has now slowed down a bit. usually you get 2,000 new cases each and every day. china says on monday they only saw 500 new cases. but as you see, the coronavirus continues to go across the world, around the globe, and in italy, a seventh death being confirmed. hundreds of cases there. the biggest outside of china, 800 cases and seven deaths reported in south korea although stocks did come back a little bit yesterday but the new outbreak in i guess a new area of concern is iran, with the deputy health minister who has been touted as helping to fight this illness and the spread of coronavirus in iran, now says he

has now contracted the disease. the health authorities there say that maybe 15 deaths go back to the coronavirus, 95 confirmed cases and over in spain, we have a large hotel in lockdown right now with 1,000 guests after one italian visitor, this tourist, confirmed that he did have coronavirus, now in isolation. this is in tenerife. guests told to remain in their rooms but supplies are running low. as we keep hearing more cases and as this continues to spread across borders, there are more concerns and obviously uncertainty that is now growing the markets. back to you. neil: thank you very, very much. we were just down over 500 points a second ago on the dow. down 472 points. essentially, we lost 1500 points over the last two days. for those market technicians who sort of hunger for some closure on this sort of thing, to get a 10% correction, we would only have to fall a little bit more than 800 points on the dow.

so the dow down about 7% from highs in a couple cases reached little more than a week ago. we have james freeman, lily garetta and john lonski. let me get a sense from you, we always talk the psychological impact of this, people say we're not getting the skinny, straight skinny, from all the people in charge, and that's a rap, every country you go to, now including our own. what do you think? >> a big reason why this is becoming an economic pandemic is because of that uncertainty. in fact, it's interesting, i asked my big data team to see how many people are talking about this. in the last seven days in the u.s., there's been 11.5 million digital discussions about coronavirus. which 54% are negative, so people are scared, fearful and they want to know what this means. neil: how does that compare to the conversations a week ago? >> oh, this is definitely compounding and growing very fast. in china, it's 25 million

discussions. but 46% are neutral. that means there is misinformation which means a formula for economic fear, consumer sentiment impacting everything that we are seeing because it's not only the travel and tourism and manufacturing but other components, you know, like 40% of the clothing we wear in the u.s. are coming from china so what's happening to those pos and retailers? ripple effect is really big but popular sentiment is driving a lot of this because of uncertainty. that is what i think is creating the fear factor. neil: markets abhor uncertainty. >> uncertainty is better than something really horrible which we hope this doesn't become and history would say probably won't be. i think there's reason to think that the u.s. is handling it pretty well. i also think -- neil: we are getting inconsistent vibes. cdc says one thing, i know it's politics. >> but we are still talking very

very low numbers. obviously there is a concern, i think that's being reflected and also, the stocks in the u.s. had gotten by historical standards fairly expensive relative to their earnings, so sometimes people throw around the term, i don't know if it's priced to perfection. i think it's natural that there would be an expression of concern reflected in prices when we see this what is a health problem and an economic issue. neil: using it almost as an excuse to sell, right? ample reason to have concern -- >> it made it harder to be optimistic about 2020. neil: interest rates are dropping like a stone. so for the consumer, you could say between that and lower gas, energy prices, that's a good fallback, isn't it? >> but there has been this loss of consumer confidence lily is talking about. people are frightened. they are probably going to wait and see, wait a couple of weeks and see whether or not this virus takes hold in the united states. if it does, i think the consumer will be looking at a 30-year

mortgage yield, maybe 4.5%. that will help housing out, i would think and perhaps also, we might see -- neil: a lot lower than that. >> possibly lower. where is the ten-year yield, 1.3%. that could actually go to 4%. neil: there are some lenders supporting 3.25%. jumping on that. let me ask you a little about how this affects psyche. you got into this, you become what you feel or you worry about. >> exactly. neil: and you know, i think you reminded me last time you were here, others have reminded me, tens of thousands die each year from the common flu. that perspective is good -- not good, but to put -- step back and see the reality. but nevertheless, the more countries you hear have this, are responding to this, dealing with this, quarantining citizens, the more people panic. >> here's what maphappens. the hyperconnected society we are today makes us more fearful

of news that are incomplete, half-told and available everywhere you turn. it's everywhere. to be practical, we were talking about low interest rates, this has an implication even in construction, when 30% of products that are used in construction in the u.s. come from china, it's no longer having to source them somewhere else, even with low interest rates, my house may be getting more expensive because of coronavirus. there are all these things. it's a very big spiderweb of correlations, yet people's speculation does not help. i wish there was more transparency but i think that's part of the problem right now. how serious is it, how does it transmit, is it mutating, is it not. that just leaves enough for people to interpret which causes what we are seeing now in the markets. >> there are news accounts from different countries but in each of those countries, we are still talking about very small numbers. i think while the chinese regime has certainly taught us not to

believe them, you are seeing from independent experts going in there, agreeing essentially that they think it's peaked. we hope that's true. we'll see. but to this point, this is not a pandemic. neil: who is buy all of our debt? who has been scarfing it up and driving yields and rates the lowest they have ever been? >> overseas investors have had a role. china and japan are your major holders outside the united states of u.s. treasury debt. right now, you have a flight to quality under way. in the event this does take hold, damages the u.s. economy, if we have a recession, let's say, i think there's a very good chance the ten-year yield goes down to a range of .5% to 1%, the 30-year goes down to 1%. very much within reach when you look at the negative bond yields outside the u.s. the ten-year in the united kingdom is about .5%. neil: thank you very much. he's a genius. that's why a lot of people think

you keep these rates this low, they are going to look at stocks as the only alternative. it is interesting to point out within the dow 30, those that have yields that would eclipse that of the ten-year note like home depot, like mcdonald's, like microsoft, they are doing okay. the other 27, they are not doing okay. more after this. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories

about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.

beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond.

and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ neil: well, a whole bunch of shares are down. nike is feeling the pinch down 1.3%. under armour, about 3.5% over worries now about the virus affecting or delaying the tokyo olympics. they're not saying that's going to happen in japan, but the fact they are even raising it is a little unnerving, certainly for that market which opened up today down 7.5%. meanwhile, the south carolina

primaries this weekend and hillary vaughn had a chance to catch up with voters in the state and what they're thinking. reporter: well, joe biden has brushed off poor performances in early voting states like iowa and new hampshire by placing all his bets on the black community here in south carolina to give him momentum into super tuesday. african americans make up about two-thirds of the electorate here. we talked to some black voters about what they think about the economy before they head to the ballot box on saturday. >> since president trump has been there, the economy has gotten better. reporter: african-american unemployment dropped to the lowest level ever. six months before the south carolina democratic primary. black business owners are feeling the boom. >> the president's policies have certainly been designed in a way i think that has been helpful to at least beginning to give african-americans an opportunity to sit at the table. reporter: african americans on average are making more money

under president trump than they were under president obama. hourly wages for black employees jumped 13% between 2017 and 2019, but today, democrats running for president are painting a different picture. >> we have a huge black/white wealth gap in america. >> trump tells us the economy is booming. well, it is for his wealthy friends. reporter: despite pay bumps for black workers, 68% of black voters disapprove of the way president trump has handled the economy, according theo a recen fox new poll. >> black voters will do one of two things, vote for the democratic candidate or not vote. >> the job situation i think has gotten a little bit better, but it can be improved. >> the economy is not that bad, really. >> normally the economy is an important issue. reporter: one democratic strategist says an economy on a record-breaking winning streak isn't enough to win over the

black community in the south. >> this time, it is how could we as democrats beat trump. reporter: some democrats not willing to give trump their vote, will still give him credit. >> i'm no favorite friend of his, i'm a democrat, i tell you straight up, but economically, the country to me is in good shape. reporter: neil, tomorrow, south carolina congressman jim clyburn is expected to endorse joe biden tomorrow, three days before the primary, one day after tonight's debate. a source tells fox news that clyburn will be watching and that biden needs to perform well tonight. neil? neil: thank you very, very much, hillary. even the prospect of bernie sanders might have improved getting the nomination, it's virtually not going to happen winning the presidency, but wall street didn't figure that donald trump would get elected president four years ago and way, way back didn't think that ronald reagan would emerge as a real threat to jimmy carter. just a reminder that history has

a way of proving experts wrong. charlie gasparino is looking at all these latest cross-currents and what wall street might be looking at. charlie: i have, just to make a point what hillary just said about james clyburn and biden, what i understand, the biden campaign does have an ad cut to run with clyburn endorsing biden as soon as that endorsement is made official, so watch for it tomorrow and they hope that will increase black voter turnout and easily give him the south carolina primary this weekend. but getting back to bernie sanders, listen, this selloff, i have been speaking with a lot of investors, a lot of people running the major brokerage firms, are investors really worried about the coronavirus right now, is that why they are selling, or are they worried about bernie sanders, the socialist, getting in there? everybody is saying that the main worry is the coronavirus. that's the selling point and its impact potentially on gdp going forward if it keeps going on, supply chains are disrupted. that said, as bernie sanders racks up victories, every

brokerage firm, every major wall street firm that deals with an investor is preparing for talking points and some of the talking points, i understand, goes like this. they are preparing for this because let's face it, bernie sanders is not, if he gets elected and a big if, he is bad for investors, you know. medicare for all, forgiveness of all student loans, massive spending that doesn't add up, that all leads to higher interest rates and bad stock and lower stock prices if enacted. here's what they're saying. number one, they're saying listen, don't freak out and sell everything. gridlock will likely follow. bernie sanders is not a favorite of republicans, obviously, he's not a favorite of democrats. for him to get this through, get a lot of these measures through, he's going to have to essentially convince congress and maybe they're downplaying it, but they are saying that most of bernie sanders' agenda, that's what they are prepared to say, if and when the freakout

comes, and it's interesting, the freakout hasn't come yet, from what i understand. they are planning for it. we should point out that jpmorgan has an investor day today. they are preparing for some bernie sanders questions but most of the questions obviously will be about the coronavirus and its impact on gdp. so they are planning for it. let's see what happens in south carolina. if he wins south carolina, if he beats the favorite down there, joe biden, let's see if the markets are reacting. i will say this. there's an urban legend out there that the markets are reacting because of bernie sanders. i'm not saying there's no background fear about bernie sanders, but the main thing right now, just so you know, from the wall street firms, is the coronavirus, though they are all preparing for the possibility that this guy is the nominee and if he's the nominee, there is a chance more than theoretical that he could be president and what happens next. so wall street is preparing for a socialist takeover of the white house. back to you. neil: you never know. anything can happen. thank you very much, charlie gasparino. by the way, we have escalated

selling. there are a lot of catalysts here but probably the cdc telling americans to prepare for an outbreak probably iced the selling cake here. but you know, when everyone freaks out, we forget at times, we are in the midst of a depression, world war ii was raging and all of a sudden, people had their priorities on things that were far more important. the very survival of democracy itself. martha maccallum has an excellent book on that. she will be putting it in perspective and it's so timely today, when we think we haven't been there, haven't done that. my friends, we have been through a hell of a lot worse. she will spell it out later. i've always been fascinated by what's next. and still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin... i want that too. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin.

eliquis is fda-approved and has both. what's next? reeling in a nice one. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. eliquis, the number one cardiologist-prescribed blood thinner. ask your doctor if eliquis is what's next for you.

neil: all right. interest rates down, oil coming down, right now barely holding over the $50 a barrel level. interest rates, the ten-year note the lowest it's ever been, 1.32%. jeff flock is at the cme, with phil flynn.

they are monitoring what's happening on both fronts. gentlemen? reporter: i don't think we are freaking out enough, neil. oil's down, gold's down, the market's down, the yield just hit a record low, the ten-year, just as we were standing here. you called the low yesterday on oil on this program. >> right. reporter: we are at session lows right now. you want to call it again? >> not yet. i think it's too early. but if we can hold these levels, you know, into the 1:00, 2:00 hour, when we get closer to the close, then i think we can have the low. but there's too many outside forces driving us down right now. reporter: you have clients that you talk to every day. what do they do on a day when everything is down? are they into bonds? >> listen, this is for professional traders right now. these are opportunities of swing trades and fast-moving trades. it is picking a spot, putting in a stop and if you get a big move -- reporter: you told me yesterday you thought stocks were going to rebound. >> they did. we had a really good rebound in

the overnight session. i think the dow opened on the night session, i think we were up over 250 points on the dow. if you are trading that, you bought that low yesterday, if you didn't take profits, you're crazy. reporter: what's oil going to do? there's people that think listen, the trajectory for oil, even long-term, we are in a tough situation right now, we will have electric cars, you are lousy oil, we are not going to need your damn oil anymore. >> the death of internal combustion engine has been greatly exaggerated, let me tell you that. electric cars are many, many years away. to be honest with you, if you look at the billions of cars that are going to be made, most of them are still going to be gas-powered. electric cars some day, not in the near future. reporter: if oil prices continue to drop, i don't think we will need electric cars because gas is going to be so damn cheap. they will be giving it away. it will be cheaper than water. >> maybe. i don't know. not a good deay on the floor of the cme. neil: he almost sounds like a

boxing trainer right now. reporter: i think he's got coronavirus. neil: oh, man. guys, thank you both very much. by the way, sign of a strong economy is when single people without spouses, without significant others, are buying homes. after this.

their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company today... to request this free, and very helpful, decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of

quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs

oh, and happy birthday... or retirement... in advance. neil: all right. john lonski was talking about the ten-year sliding, mortgage rates collapsing.

now we are seeing a lot of people take advantage of this, before any of this was actually happening and now that it is, what to make of single people buying homes? john, what do you think? >> i think it's a great idea. we have very low mortgage yields, why not go ahead and give it a shot. rents have been going higher and of course, this rent inflation makes home ownership all the more attractive. but of course, you have to be in a region where housing is affordable and that's not necessarily the case in new york city, nor places like san francisco. neil: we are seeing more young people than ever doing that. what do you make of that? >> i think we are forgetting the millenials which are arguably the fastest growing, most diverse generation ever, are older. millenials are like in their late 30s, early 40s. so that's who is going into the market. a lot of them are diverse, me being hispanic, of course i'm going to throw that fact in the next ten years, 56% of new homeowners will be hispanic.

because we are getting more educated, as an upwardly mobile community and are seeing high employment, high entrepreneurship. so it gives me hope for a healthy economy ahead. neil: the wind is at their back when it comes to home price situation notwithstanding in some markets, certainly what's happening on the rate front, right? >> the rates are great. i think there's an issue of what is driving the lack of affordability and in a lot of places, people talked about california, it's very difficult to build. it's expensive to build and to own homes. i think this is a good issue for all of those politicians who want to speak to young people and talk about how do you get into your first home, how do you start that american dream, and there are lots of things that can be done as far as making it easier to build. we see there's a story in our paper today about an operator of trailer parks who has been crushing it for the last ten years, and it's driven by the

difficulty of developing new ones and the fact that home prices are so expensive that people are looking for a better option. so there's a lot to be done here in terms of looking at why do we have this affordability problem. neil: i know in california, the governor there, newsom, is saying doctors should be able to write prescriptions for houses. what do you make of that? >> that's ridiculous. a lot of these poor people that are homeless really can't function on their own in many cases, they are mentally ill, they have all the drug problems, alcohol problems. is this going to solve anything? i don't think so. again, people that -- neil: the alternative i think he's saying is they are out on the street and all of that. >> even if you had special housing for the homeless, many people wouldn't be crazy about having that in their neighborhood. a lot of these people years ago, they were institutionalized. we don't have that anymore. so they are out on the streets. >> i have a perspective on that that maybe disagrees a bit with

john, who i respect dearly. 80% of health outcomes are related to other things that are not treatment or access to medical care. 20% is access to medical care. this is more health organization. the social determineants of health are what drives an ultimate good outcome. it may not be just housing, it's other things, education, access to nutritious foods, et cetera. 88% of our health care spending goes to the 20% of medical care and treatment. so something is wrong with that formula. i work with a lot of big pharma companies and payers that are looking to a new way of delivering care that is comprehensive. i'm not saying it's just the housing solution but it made me think broader, it's a thing that needs to be in for a mix of solutions. it may not just be housing. but there's a different way of looking at this. we are spending too much money for that outcome. >> i'm hoping california will just stop intervening in the housing market.

they want to roll back some regulations, that's great. but this is the largest, by far the largest unshelterred homeless population in the united states. a lot of policies in california to blame i think in terms of both on the health side, the housing side, but a retreat by government i think is what's most needed there. neil: costs money, too. >> if i don't have a job, maybe i'm going to an area, lower cost of living, where there are employment opportunities. some people can't make the choice but for many of these people, there is such a thing as self-responsibility. you've got to take care of yourself, okay? you can't depend on the government or somebody else. you have to make up your mind that i'm tired of living this way, treating myself badly, and just change the environment that you're in so that you can go ahead and move forward. neil: well put. final word on the subject. thank you all very, very much. everyone has to calm down. i know we are talking about a dow that is now closing at a 600 point loss on top of a 1,000 point loss yesterday but we have

been through worse. i'm not talking markets. i'm talking world war ii, i'm talking the whole concept of the democratic republic in doubt. that was not that long ago. martha maccallum spells it out in a beautiful new book that connects her family to that history, after this. ♪ 1 in 3 deaths is caused by cardiovascular disease. millions of patients are treated with statins-but up to 75% persistent cardiovascular risk still remains. many have turned to fish oil supplements. others, fenofibrates or niacin. but here's a number you should take to heart: zero-the number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. ask your doctor about an advancement

in prescription therapies with proven protection. visit truetoyourheart.com the business of hard work... ...hustle... ...and high fives. modernized comfort inn's and suites have been refreshed because our business is you. get the lowest price guaranteed on all choice hotels when you book direct at choicehotels.com. quadrupled their money by 2012, and even now, many experts predict the next gold rush is just beginning? so don't wait another day. physical coins are easy to buy and sell, and one of the best ways to protect your life savings from the next financial meltdown. - [announcer] today, the u.s. money reserve is releasing official gold american eagle coins at cost, for the incredible price of only $159 each. these gold american eagles are official gold coins of the united states and are being sold for only $159 each.

- pick up the phone and call america's gold authority, u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. - [announcer] today, the u.s. money reserve is releasing official gold american eagle coins at cost for the incredible price of only $159 each. these government issued gold coins are official u.s. legal tender, made from solid gold, mined here in america, and fully backed by the united states government for their gold weight, purity, and content. do not delay, call now to purchase your gold american eagles for the amazing price of only $159 each. gold is now on sale at prices unseen in years, and this year could be one of the greatest gold buying opportunities of all time. call now while vault inventory remains,

and as one of the largest u.s. gold coin distributors in the country, u.s. money reserve has proudly served hundreds of thousands of clients worldwide. don't wait another minute. call now to purchase 1/10th ounce gold american eagles for the amazing prices of only $159 each. neil: nin and out of session lows. we are running 574 points off the dow, in addition to yesterday's roughly 1,000 point selloff, brought us about 7% from the high we reached on the dow a couple weeks ago. the s&p 500 in similar sort of crunch conundrum, if you will. it is down about 6.5% to 7% from highs reached on the 19th of this month. a lot of this on the coronavirus, indications that it's spreading in places like italy much more than they

thought, in iran, places where they didn't think that would happen, in iraq. you hear reports of people tightening borders not only between iran and iraq but even between russia and china. then there's the separate issue about companies admitting they have ample exposure to the region and the supply chain tightness and drain, if you will, continues to exist. banks particularly in this low rate environment are among those taking it on the chin. bank of america down about 2.5%. citigroup, about 2%. jpmorgan chase a little bit north of 2.5%. wells fargo just under 2%. so in this environment, where a lot of people were hoping to see a rebound, it's not happening. where money is going are treasury notes and bonds and also gold. that is the lowest yield we have seen in history in this country for ten-year note and right now, there's a lot of attention being focused on alternatives for people to give back and all that, i don't know if that's an accurate quote, on gold. meantime, we will keep an update on that and the sectors that are benefiting, all 11 sectors within the s&p are down.

more after this. when you move homes, you move more than just yourself.

that's why xfinity has made taking your internet and tv with you a breeze. really? yup. you can transfer your service online in about a minute. you can do that? yeah. and with two-hour service appointment windows, it's all on your schedule. awesome. so while moving may still come with its share of headaches... no kidding. we're doing all we can to make moving simple, easy, awesome. go to xfinity.com/moving to get started.

and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need.

and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ is it someone that you recognize? >> oh, yes. it was my buddy, ray. i think his name is ray. >> he was my uncle. >> he was your uncle? >> he was my uncle. >> i'll tell you a story about that. he was my buddy. foxhole buddy. he would always call me pop because i was 24 at that time, he was 18. he would always say pop. neil: to have that as an added benefit to martha maccallum's

incredible book chronicling the time when the whole world seemed to be in the middle of the grip of evil but her uncle was part of that. it's a remarkable story. "unknown valor." the 75th anniversary of iwo jima. where does that time go? great to see you. >> thank you so much. great to be here. neil: i was saying during the break, what made this story stand out for me were all his letters. your uncle was a teenager and he was desperate to join the war as soon as it started, was too young. he signed up and a lot of your family members were worried but he wanted to do it. he wanted to do it. >> i think what strikes me is that that was harry gray's story but it was also the story of so many young men, and there are going to be, i hope, americans across the country who read this book and who think you know what, my grandfather or my uncle or great-uncle also went and

that they dig in and learn the stories because that's what it's all about. harry gray is all of these young men who wrapped lives arounes ae recruitment center to enlist. they were 16, 17, 18 years old and left everything behind to go fight the japanese in world war ii after pearl harbor because they were so struck by that feeling of our country being attacked, and the men who still survive who i met, had the honor of meeting during writing this book, they feel that way today. they said of course we went. we wouldn't think of not going, you know? they were patriots. neil: they were kids. they were kids. i thought of it, one of the things you talk about for pearl harbor and everything, the hounds had been released and would not return home until there was a victor. here's your uncle, he is over there in iwo jima, the war was almost over. the irony was it was almost a few months from being over. i'm just thinking man, the

fickleness of fate. >> i know. the fickleness of fate. it's so true. not only did he, you know, he wasn't old enough until the war was almost over. he went from guam to iwo jima with all these other men whose stories we tell in this book, but people think of the flag raising as this victorious moment. that happened on day five of a 36-day brutal battle and some of the worst battles were fought after the flag was raised. of the six men who raised the flag, three of them were dead within days. neil: there were japanese shooters there to take them out as they were doing it. >> that's right. a man threw a grenade at the men who raised the first flag. there were two flag raisings. there was a grenade thrown at them in the initial flag raising. neil: it's interesting, the family dynamics here and you relate to your own grandmother and the extended family, but his uncle didn't really -- wasn't keen on his going and was worried about his going,

monitored all the papers, how things were going, but didn't tell him that, but obviously like any family, you worried. >> my grandfather was like a father to him and my grandfather talked about him when i was growing up, missed him so much. he was sort of the son that he never had. neil: he wrote him a lot, right? >> yeah. his own father had passed away when he was 12, harry's father. my grandfather and his sister were very close so he didn't want him to go but they knew there wasn't anything, you know, they were drafting these young men as well. they knew he had to go but he sort of wished it would pass him by. even when he was killed, harry was killed on march 13th, and the battle of iwo jima ended just days after that. it was a very bitter end. neil: i saw in the book also, the telegram that came to tell i guess your grandmother at the time. it was just so blunt. >> it is. you read these telegrams and they just, you know, they just

lay it out and you get that knock at the door, we have all seen it in movies like "saving private ryan" and the face just drops and you look at the telegram to scan for the words, does it say wounded or does it say dead. once you see that, you really don't need to read anymore. you know what you need to know. then the letters that go back and forth, we dug into marine documents for all of these men. i had all of their documents sent to me, you know, stacks high of everything from their hand tl written enlistment papers they filled out to what came back after they died to the drawings of their bodies that showed where their wounds were to the list of possessions that were sent back with them, and harry gray, his mother, my aunt anne, received his wallet which had his initials on it, with bloodstained photographs inside of my aunt and my aunt nancy, who was his sister, who is still alive. you know, you read the list that says like one wallet, one identification bracelet, one signet ring, these are the things that get sent back. neil: what struck me and what added to this book and the story

were all his letters to his family, extended family. he was a very good writer. a little ink in the family blood there. but he was always so gung-ho. i mentioned i guess in his youth, he had a killer smile, million dollar smile. but he was gung-ho on just doing something he felt he had to do. >> i think that it was partly that and i also think it was that these guys were so selfless. they were taught to be humble and they were young men of faith. he had his rotary beads with him, he prayed a lot. he talked about meeting with the chaplain. he kept a prayer in his wallet all the time. i think -- neil: he died with rosary beats on him. >> that's right. he wanted everyone at home, his mother and sister, to not worry. when he wrote home, he didn't want to tell them the grim stuff. he wanted to tell them there was plenty of chow and it was pretty good. neil: the training, right -- [ speaking simultaneously ] >> he wrote a rosier version to

his mother. he wrote a little bit grittier to my grandfather who he told about a young man who attempted suicide nearby in the barracks from him that was really interesting because when i met charlie, he told me the same story. i knew that wit was all coming around in a full circle, they were talking about the same man. that's what helped me to tie all these people together. neil: what i didn't realize is your youngest son is named after him. >> harry. yeah. he is. you know, i just had this story has always resonated with me and i also love the name harry. i'm very proud that my youngest is named after harry. he's about the same age now as harry was then. neil: just wisdom way beyond his years. i was saying when i was talking about this book that here we are obsessed in the markets about a selloff, coronavirus, and we just go back to that time and what people were dealing with coming out of the depression, world at war, the whole planet could go one way and i always think back, we shouldn't be

whining so much. >> they were incredibly optimistic and very forthright about what mattered and what you needed to do to forge on, and to win the war. it was an enormous effort on the part of so many families and so many young men. he symbolizes so many of these guys. neil: we always talk about that generation, the greatest generation, but there was more to it than that. with very few words, they just did what they had to do, even if they knew they could very easily die doing it. >> yeah. and the men that i met, george coburn comes to mind, he lives in florida, he's the one who sent these letters home after harry was killed to tell harry's mom and help tell my grandfather what happened and how much he cared about harry and what a brave young man he was until the very end, and i met george coburn. i found him very late in the process and realized that he was still alive and i called him and i said you know, george, this is harry gray's niece. he went silent immediately. he said i think about harry all the time.

neil: a stunning book. in this day and age when we are so focused on money, money, how's my money doing, from modest means, a life of valor. "unknown valor." i urge you to read it. i also urge you to read it with a full box of tissues. excellent job. >> thank you so much. neil: more after this.

neil: bernie sanders taking on the fossil fuel industry to fund his plan to extend health care and free college tuition. there's a legal question as to whether he can do that. to judge napolitano. can he? >> i don't think he can persuade the congress, even a congress filled with people that agree with him, that they can fund a program expecting income to come from litigation. i mean, litigation takes a long time and takes a lot of various twists and turns and quite frankly, i can't think of a time

in modern american history where a government program has been funded in anticipation of funds generated from litigation. maybe you could say the tobacco litigation, but even those very aggressive state attorneys general who split up about $75 billion, they didn't start spending. neil: so, by targeting, isn't so much targeting industry, but no matter what, you just can't extract monies from a sector of the economy? >> correct. he can't do this on his own. he can only do it with legislation. there is a lot of assumptions in here, the largest of which he wins the presidency, but it also assumes enough people in congress, there are a lot of democrats don't buy this nonsense agree with him. let's say it would require legislation and it would require approval by the courts and then it would require litigation. you're talking about a process that could not happen in the first four years of a mythical,

hypothetical, sanders presidency. neil: don't jump so fast. you never know. i did wand to get your read what the president haas been saying about supreme court justice sotomayor and ginsberg. he was railing against them being impartial observers. they should take themselves out of anything to do with donald trump. listen to this. >> what justice sotomayor said yesterday was really highly inappropriate. the way i look at it she is trying to shame people with a different view voting her way. i don't know how they cannot recuse themselves for anything having to do with trump or trump related. neil: questioning the president that should takes them out of -- >> correct. first of all there is no provision for supreme court justices to be pushed out of a case. the roger stone judge, can be pushed out of the case by an appellate court. the eight justices cannot push the ninth out. so if she doesn't recuse herself because she has some sort of a

conflict she is not going to go anywhere. neil: what did she say that offended him though? >> she basically chastised the department of justice for using the emergency doctrine -- neil: keep going to the supreme court. >> every time there is immigration case. i think her criticism is correct there but then she went one step too far publicly said you are backing up trump administration. you're conservatives appointed by republican presidents. if she wants to say it face-to-face -- neil: we all know judges have biases. >> of course they do. neil: is the president right they're biased against him saying that kind of stuff? they are not exactly impartial observers? >> the president is correct sayings that but that is the way the system is. he says there are obama justices and there are trump justices. we're not supposed to acknowledge that, but that is a fact of life. president trump appointed justice sotomayor because she reflect his opinions and president trump appointed

justice kavanaugh because he reflects his opinions. neil: by and large the makeup of the court a conservative court, by and large with the american exception, they vote as you would think. >> they generally do. chief justice is now the swing vote. he has been consistent with the trump administration on the immigration issues. i think that probably piqued justice sotomayor's frustration. neil: thank you, judge, very much. you brought the magic touch with you my friend when you came on the set. we were down 580 points. we're down another 640 points. a lot of people say that is ridiculous. you can't blame the judge for that. prove it. >> [laughter] neil: i'm kidding. this is on top of the 1000 point selloff yesterday which is fueling confusion simply where the coronavirus stands and conflicting comments you get out of the cdc which says it will be a problem here. the administration says it is not a very big problem here. chuck schumer says the way the administration is handling guaranties it will be a big

problem here. wall street hears all that, arguing back and forth. kind of dealing with my teenage sons. stop arguing, get on the same page. deal with this they ignore me. we'll see what happens now. charles payne is here. charles: good afternoon, i'm charles payne. this is "making money." stocks lower againod