that will tell me the big institutional crowd is defending markets. we don't want to see up 400 today and i think we are down as of right now, as we speak. we want to start seeing the opposite. charles: i agree 1,000%. it's how we close and it ain't been pretty. catch gary on "bulls & bears." we are off 155 points. liz claman. liz: what we are going to do in this final hour is strap you in. we know it might very well be another wild ride on wall street as the dow swings 651 points from bottom to top and now heading back down, following the biggest two-day point loss in history. at this hour, we do have the dow jones industrials falling 143 after more than $2 trillion in losses over just the last two sessions. for now, the nasdaq is that one index in the green, up five points. we will see if it holds. meantime, the dow started giving up its gains at 1:55 p.m. eastern time. this intraday picture, it shows you best exactly when that happened. why? well, that's when a report hit

the tape that 83 people in long island's nassau county are being monitored now for exposure to the deadly coronavirus. now we've got multinational corporations today from nestle to ericsson asking employees to work from home or skip traveling all together. the dean of the miami business school who ran the china/europe international business school is here in a fox business exclusive on how he sees the economic and business spending impact affecting some of the stocks you own. our power panel is here as well to tell you whether you should buy china during this outbreak. yeah, there are some chinese stocks you should be scooping up. plus disney investors asking themselves how a low profile dark horse executive suddenly grabbed the reins of the mouse house. we are about to tell you how he did it. it is a classic tortoise and hare story. wait until you see what the hare brings to the c-suite.

plus, bitcoin dropping below an important key level. luxurious stock picks to make now. and charlie breaks it on goldman sachs's big hunt for what? he will tell you. less than an hour to the closing bell. let's start "the claman countdown." liz: breaking news. we are going to show you what is a live picture of new york city mayor bill de blasio having a news conference, where he's outlining the preparedness of new york city for the coronavirus. we want to stress there are no confirmed cases in new york city right now, nor in counties next door. but just north of the city, westchester county has eight people under quarantine and east of manhattan on nassau county, long island, 83 people are being monitored because they just visited china recently. we are following this very closely but it's getting closer

and closer to home and what's most important, certainly, is the city certainly here in new york and perhaps where you live making some plans for preparedness. i do, as we look at the dow down 118 points, want to tell you this is just hitting the tape. norway has just confirmed it has one resident infected by the coronavirus. it is the country's very first case. that in norway. even as the markets lose their grip on their mojo, tj maxx parent tjx hitting a record high after reporting strong earnings, also raising its quarterly dividend. the stock is jumping 6.5%. tj maxx did admit something we haven't heard about in awhile. the discount apparel giant revealed its seeing just a bit more pressure from tariffs. the pressure is off. short sellers of smile direct club grinning ear to ear watching their bets against the teeth aligner company pay off again. that stock is plummeting 29.5%,

$3.34 to now just $7.99. an analytics firm saying bullish investors earned profits of more than $115 million as the stock sank following a revenue miss. wall street immediately followed with a flurry of price target cuts. the rating karate chopped from buy to hold on smile direct club. despite solid new and existing home sales reports, housing sector names seeing double trouble. home builder toll brothers disappointing investors with its first quarter numbers and its full year guidance. that is also a problem. that stock is falling about 13.5%. then the company that helps build some of these homes and fix them up, lowe's, dropping to a three-month low, down 4.75% after missing on same store sales and also giving a weaker than expected forecast but saying don't worry, the strong spring selling season will come back. bitcoin, let's get to this, it is now fallen below the key

$9,000 level. we know there are crypto haters out there. they are gaining strength as the bitcoin futures are shaving about 5.75% off of this cryptocurrency. we are looking at $8,895 per coin for bitcoin. following two days of a combined 1900 plus points in losses, "countdown" noticed that it kind of looks like investors are very delicately picking up some beaten down but best in class names. we thought let's show them to you. because there might be a message here. the barista's of luckin whipping up gains, recovering at this hour after taking quite a coronavirus beating. the stock is up 3.25%. remember, multiple stores were shuttered and the fear does still remain that the pathogen will hurt sales growth. this is sort of china's version of starbucks. while shares are down some 20% after hitting a 52-week high, back on january 17th, they are now up $1.21 to $39.42.

to the chip maker sector. this is amazing. just a day, one day after nvidia was cut from neutral and david wong downgraded the tech giant titan to reduce overestimated risks from coronavirus -- i can't speak -- nvidia is rallying now. a nice move of about 2%. it has erased some but not all of the 9% in losses that it has suffered this week alone. can we get to the fangs. talk about a silver lining. netflix is charging higher by about 4.75%. here's why. some analysts believe the streaming giant's new subscriber numbers will rise because of the coronavirus. if the virus outbreak worsens, the analysts believe that will force people to remain home, stay indoors and now from these healthier looking names, here's what we started to think. you may wonder, did we really hit the bottom yesterday of the

selloff. well, take a look at this. as of right now, the markets are pricing in a 79% chance that the federal reserve will cut rates in june. that is up from just 30% one month ago. so let's get to floor show traders. guys, is the fed pushing the punch bowl closer to the thirsty masses just as this thing might be bottoming if you look at those best in class names we just showed you? teddy? >> i'm not sure what the fed will do in june, liz, and clearly the market short term is probably oversold, if not very oversold, but they are not ready yet. stocks will tell us when they are ready to do better. you have a couple names that are kind of fighting the trend but as long as we are dealing with all these large unknowns, the markets can deal with bad news, they certainly can deal with good news, but these unknowns are really problematic for the markets. we need a little clarity on this

whole virus thing and perhaps less negative headlines, if that's possible. the market will get its legs some place. i'm not quite sure we're there yet. liz: phil, we couldn't hold the bounce. at least not the dow or the s&p. and the nasdaq certainly is touch and go at the moment. it's up just about 12 points. look at the russell. these are the small caps down 1.25% which is a bigger chunk that has been slashed off here. then you got to look at the vix which is up about 2.3%, on top of major gains over the past two days. give me your sense of whether you are starting to see some, as i put it, delicate stock picking just as some of the dust, not all of it, some of the dust begins to settle? >> i think we are, i think we will see it. i talked to chris robinson before i went on air. he said we are so close to the 10% correction. traders do listen to that. they are also going to listen to the two year yield which basically is well below the fed

funds future rate right now. that's already signaling not only could we get a rate later, they are even increasing the odds of the possibility we could get a rate cut in march. it's still long odds with 39%, you know, pretty impressive when it was basically zero just a few days ago. you know, i will tell you what, you look at what's happening here, a lot is going to depend i think on president trump tonight. look at that tweet, you know, he did today. it caused a huge rally in the stock market, saying hey, listen, things are, you know, under control, we are a little bit concerned about the fake news that we are panicking too much. i don't know if we are or we're not but this is going to be a big speech or a big press conference with the health officials to try to bring some calm in market. but you got to go back to history, right. we have been through these things before and we have a tendency to way overreact to them. this time could be different but from a technical viewpoint, it probably isn't. liz: well, all of these infectious disease outbreaks, if

you look at them from the past, about half a year to one year after they calm down, boy, does it look like a buying opportunity there. we are watching it. please stand by because we may need you back as we are watching the dow. down about 99 points. a little bit of a comeback here. we are seeing the first cases of the coronavirus officially confirmed now in pakistan. the country of georgia and just moments ago as we mentioned, norway. the virus and its lethal tentacles spreading far and wide, impacting a growing list of publicly traded stocks. united airlines and american airlines as well as all three of the market's top cruise line stocks are now extending their losses. they are hitting fresh multi-year lows at this hour. norwegian cruise lines down 6.75%. royal caribbean down call it 7%. carnival, of course, that had the "diamond princess" that was totally quarantined off the coast of japan, now down 7.25% standing at $33.23.

can we talk about apple? apple is facing investors for the first time today since it issued a warning on the risks of the coronavirus and what that risk poses to the supply chain globally. you know that they get a lot of their parts and a lot of their phones sourced from china but that's been a story of yesterday. what we really need to know is what now. nothing so far. we are watching the tape closely, has been said about the coronavirus just yet. the shareholder meeting still going on at the moment. but apple's ceo tim cook did announce the tech giant will open its first physical retail store in india next year, 2021. apple's stock is up 1.5%. nice move there of about $4.25. now food and drinks giant warning the coronavirus will cost them millions of dollars in sales, will hurt profits, even papa john's says it has been forced to close some 50 franchised stores in china due to the outbreak.

all those stocks in the red. our next guest in the green because he is the former dean of the china/europe international business school in shanghai. he was just in china, was it january 19th, sir? when the virus started? >> yes, liz. good to talk to you. i was there january 18th through 20th. lou: oka liz: okay. we want to welcome you. john, what was it like there? because we started covering this i want to say second woke in january. we were among the very first shows on any network to be flagging this for a whole host of reasons we don't need to get into. since then, we started to see the ramping up of real issues here, aside from the human toll. what did you see when you were on the ground there? >> at that time, liz, there really was no sense of urgency or panic in shanghai or beijing. there were reports about the situation in wuhan and hubei,

but it's really testimony to how virulent this virus is that in the space of only four weeks or so since january 20th, we are on the verge of the w.h.o. perhaps declaring this to be a pandemic of a global magnitude. liz: not only did you run this china international school for business, but you also are well in the know about things that involve global health. do you think the w.h.o. fumbled this, because more than three weeks ago, it was around january 22nd that we had laurie garrett here who wrote "the coming plague." she said i can't believe they haven't called this a global crisis by now. >> yes, well, the w.h.o. of course does have specific protocols and thresholds that determine when it calls a particular outbreak a pandemic. what i do think happened here

was obviously the size and scale of china is such that there is a level of influence in terms of w.h.o. commentary that could have come into play. but i think putting it on the w.h.o. is probably a little bit misguided. let's face it, the chinese central government was a little bit slow perhaps to understand what was happening in wuhan and hubei. once they got a grip on that, they really went after it. liz: you have said that if the coronavirus isn't squashed within a month, you will start to see real business effect. we are looking at a whole bunch of names today alone. we saw diageo, nestle saying there are issues they do not want their workers traveling. that's going to crimp numbers, you would imagine. after the bell we have hotel and travel stocks, marriott. marriott international vacations and booking. booking.com. those are names that are highly

susceptible to this. would you expect that we are really going to see just more innings when it comes to this difficult game? >> sure. the markets seem to be intelligently discriminating between one stock and another so clearly, the consumer discretionary service, travel, entertainment type stocks that are operating internationally, these are obviously suffering along with the airlines. on the other hand, if you think about china, many people are obviously confined to their homes, if not under personal quarantine, under self-imposed quarantine, not wishing to go out into public places, so any service that is delivered online, so the services that are tencent or alibaba, those are actually really getting more business and traction than they

have in the past. liz: it's almost like netflix, where it's moving higher because people are confined to their homes. sir, thank you very much. >> thank you. liz: any time. disney, the biggest drag on the dow 30. yeah, the mouse house on shaky foundation, in a move more jarring than the mother/daughter switch in "freaky friday" long time chief bob iger's c-suite exit. who is the new successor, bob chapek? deirdre bolton is about to pull back the curtain on that. stay tuned. shall beyond the numbers to examine investment opportunities firsthand, like innovations in agricultural research. because your investments deserve the full story. t. rowe price invest with confidence.

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. liz: oh, a caffeine boost, with about 40 minutes to go before the closing bell rings, for a second there, and now once again, we are watching the dow try and make a run at the green line here. we did briefly pop into positive territory. in fact, so briefly that it doesn't even show yet on that intraday chart but as we flip over to the s&p, we do have some green on the screen. the s&p has punched back into positive territory by about two points. we are watching this closely. nasdaq has added on to what was at the top of the show about seven points of gains. now we are up about 54. most investors recognize this guy. disney's bob iger.

shares of disney have increased under his tutelage more than 400%. that's when he took the helm as ceo back in september of 2005. as bob iger announced yesterday, he was stepping down as ceo. he will still remain executive chair. of course, one of the most widely held stocks kind of dumped out, started losing. a lot of investors left scratching their heads, having never heard of this gentleman. theme parks chief bob chapek, who is taking over as disney's new chief executive officer. why did he get the nod? and what happened to these two guys, chairman of disney direct to consumer and international, kevin mayer, and michael paul, president of disney streaming services. aren't they making such a big deal of streaming and hasn't that helped the stock recently? if disney continues to lean more into streaming, taking on behemoths like netflix, deirdre bolton has been doing some digging on mr. chapek and boy, he's a dark horse certainly.

why did he get the nod over other contenders? deirdre: numerous reasons. let me take you through them. he's known as a cool head. he has been with bob iger in some pretty stressful moments and really has become someone that bob iger counts on quite a lot. he's a very known and talented operator, if you like, and even though to your point he is not necessarily a household name, he ran more than 20 years' worth inside disney, three divisions, one of which was one of the highest grossing revenue parts of the business. i'm going to give you that. parks, consumer products, studio content and distribution. as one insider told me, he has basically been the logical choice who has been there the whole time. you called it a dark horse. long story short, he's proven his ability to execute across three of disney's complex global business units. that is really important. so one person told me has

cross-company experience actually gives him a better ceo nod than even iger had, if you can believe that, back in 2005 when he was named. you mentioned michael paul, the fact he is head of streaming. you are quite right, this is basically the future of disney, but just keep in mind that while iger is stepping out of that ceo role, he is going to remain of course executive chairman through 2021 and he has essentially said he wants to focus on the creative part, the streaming part. so if you like, by certain measures, iger is still the one who will be running the strategy for the streaming and that content part of the business. when i sat down with iger in the spring, here's what he told me. do you think the legacy part of the business will be able to hand the baton to the streaming part without dropping it? >> what disney plus and espn plus and hulu are designed to do is not only to grow as businesses unto themselves but to be there for us as major

alternatives in terms of business models. deirdre: so disney's future really does rely on how well it hands off between the legacy and streaming competition, as you said heating up, disney plus going head-to-head with amazon prime, and all the legacy media companies in the most flattering light, sources say iger is handing off to chapek now, it shows his strength, in other words, iger is still in the house, chapek has time to transition. the more cynical view is the job will get a lot harder, especially with theme parks closing, a lot more pressure on numerous parts of the business and it's a good time to leave at the top. back to you. liz: one thing about mr. chapek and that is he knows how to make money. he knows how to operate and when you see that he rose the consumer products division by 67%, that's enough. that should be enough for investors. the stock still down 3.33%. up next, charlie breaks it big on the next big bank to go on the m & a hunt. dow down by 75 points.

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liz: morgan stanley's $13 billion purchase of e-trade setting the financial world ablaze but wall street sources are telling fox business now that even bigger deals could be ahead for the big banks this year. charlie's next on who could be next on the mega-merger merry-go-round. charlie: i think this touches off a battle between morgan stanley and goldman sachs. we should point out that jpmorgan was the banker on this deal. they shopped it, from what i understand, widely. goldman sachs as we reported, i always thought they were going to buy it, they kicked the tires on this. they got morgan stanley to pay up 40% premium to its stock price. paid up more than anybody would. they really paid a lot of money. their stock got hit because of that. but it looks like because of that strategically, buying that type of a retail brokerage

operation, goldman sachs is now in a position where it's playing very much defense. what is it going to do? here's what people, sources at goldman say is being discussed. they are talking about buying registered investment advisers. they are talking about maybe at some point looking at ubs which is a small brokerage firm. liz: that's a big deal. charlie: it would be a big deal but it's a small brokerage firm. something that could give them this retail might they are trying to build out. remember, they are trying to build out retail commercial bank. they do have that. here's the interesting thing about morgan stanley. do they stop here. with e-trade. from what i understand, gorman is not going to stop here. that doesn't mean he will do a deal tomorrow. we got a comment from a senior morgan stanley executive who said no deals are planned for now. i will say this. i talk to people that know gorman pretty well. his end game before he retires, and i believe he's 61 years old,

his end game is to buy a fairly significant commercial bank, like midsized regional commercial bank. m & t would be one -- mubs is a brokerage firm. it's america's unit of the swiss bank. so that's where we are. we do have a little bit of battle royale going on. we should point out this battle has been going on for years. it was often over investment banking rights. goldman sachs always had the higher stock market valuation. morgan stanley has eclipsed goldman sachs in terms of stock market valuation, particularly as goldman sachs has basically meandered and is having a difficult time finding a business model. they are going into -- they were known as a trading firm, high end investment bank. morgan stanley is known as white shoe as well but morgan stanley made the transition to dealing

with small investors. goldman sachs has not made that transition, despite the fact you have regulations that essentially force banks into that space. so they are caught off guard on this thing, they have to respond. the response, we understand, will be buying a brokerage firm or buying registered investment advisers. there's a few firms like that that you can buy. hillman & freedman is one. you can piece them together and buy out your retail banking effort. morgan stanley last stand, from what i understand, is not e-trade. james gorman, people close to him say will buy or wants to buy before he retires, a commercial bank to even out that firm. midsized commercial bank. he has spoken about that with people from what i understand. this battle goes on. goldman sachs's move is next. cloorl th clearly they have to do something to stay in the race. lot of people say they might buy

robin hood. know who that is? liz: of course. charlie: an online very discount discount brokerage. liz: very hot. charlie: the problem is their average account is like $50. i'm just saying. liz: millenials end up making money eventually, we hope. charlie: eventually. when they turn 90. the way things are going out there for millenials. liz: be nice. we love our millenials on this show. charlie: more power to them. liz: charlie, thank you. charlie gasparino. more power to them? charlie: by the way, you think our demo is going up or down on this thing? liz: on you, probably not. stick around tonight because, oh, this is a good one, special edition of "bulls & bears." looky who's joining david asman. charlie: is that lou dobbs? liz: that's right. sparks are going to fly. charlie: think he'll say something nice about donald? liz: i'll tell you something. dagen will crush all of you.

all right. when we come back, stay tuned. we are watching the last 26 minutes of the trading session here. buy china, just at the point where china is getting hammered from the coronavirus, oh, yeah, we have the guy who says you might be an idiot not to. you met on an app. delete it. why? he's the one. awww. gesundheit. i see something else... a star... with three points. you're in a... mercedes. yeah, we wish. wish granted. with four models starting under 37 thousand, there could be a mercedes-benz in your near future. lease the a 220 sedan for just $349 a month at your local mercedes-benz dealer.

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liz: we have this breaking news. the emir of qatar has ordered the evacuation of qatari and kuwaiti citizens from iran. this according to the state news agency on twitter. as of right now, here's the real reason, the death toll in iran has climbed to 19 and there are 139 confirmed cases of coronavirus in iran. so he's pulling out the kuwaitis and it is the highest death toll outside of china. even iran's deputy health minister has been tested positive for the coronavirus. let us now look at an

important stock here. chinese microblogging site weibo is off its session lows but still down about 4.33%. it was down about 11% premarket. what drove it down? a miss on earnings and the head wind that's been dogging most companies nowadays, that's the coronavirus. but weibo has pretty much emerged as the chat space of record for somewhat unfiltered information on the spreading of this pathogen. even as weibo says coronavirus is hitting its business significantly, mark galasiewski says this too shall pass for all china stocks, get in now. he's the chief equity analyst for asia. gordon chang, author of "the coming collapse of china" begs to differ. mark, state your case that it's time to buy china. >> okay. well, i think gordon and i are probably going to be speaking two different languages and also using different assumptions. he will be extrapolating fundamental trends. i will be using technical

analysis. in which you can actually anticipate highly counterintuitive moves. we have seen one so far already this year. can you name one major global stock market index that is above its january highs? guess what? it's in southern china. it's china's second largest market and it's the home of the growth stocks in china, similar to the nasdaq in the united states. it's been outperforming for overa year and that outperformance has simply been continuing with the coronavirus providing a temporary setback. but it's continuing and we are sticking with that trend. but there is some other evidence i would like to consider in addition to the pure technicals and that is one that's also quite counterintuitive, particularly the timing of the outbreak of the coronavirus in china. here at elliott wave international we have long absorbed for over two decades a relationship between stock market prices and outbreaks of infectious disease, if you can believe that.

specifically, outbreaks of infectious disease tend to occur after stock prices have declined for some time. it's part of the breakdown in social conditions that tends to occur during bear markets. we've got some evidence to support that. we can bring up the first chart if it's not already there. liz: hang on a second. we just showed the bird flu epidemic from 2013. if we can put that back there, you can see that dip, hold on a second, then shortly thereafter, possibly about a year or two, boy, it sure looks like the best buying opportunity. using that piece of evidence, gordon, what's your response? if we are just talking about good opportunities to buy stocks cheaper, why wouldn't you buy china? >> well, if you can make a short term profit, why not. but the problem here is that coronavirus is not sars, it's not mers, it's not swine flu. the problem is that this is a much more transmissible bug.

it is one which is far more dangerous to economies. also, we have a china right now that even before the coronavirus was only growing at 1% or 2%, if it was growing at all. right now, it's contracting. the chinese government is doing its best to hide information. so i'm not so sure that we can actually say that there are buying opportunities, at least in the long run. the one thing we know is that china manages its markets, it might manage them up a little bit, but it really can't defend itself against the fundamentals and the fundamentals are overly negative. liz: china is not known for its transparency, not known for its clean numbers, but what would you like at the moment, when you're looking at xi jinping wearing a face mask, you are saying that that is the very time you should go in and buy what? what types of names? >> okay. well, if i can first rebut gordon's issues there. first regarding the coronavirus, gordon, you know as well as i do that the hong kong flu of 1968

killed 500 million people worldwide -- sorry, not 500 million, sorry, 500,000 people worldwide. that's a pretty serious epidemic, yet the hang seng index, where the outbreak occurred, roared after the 1967 low. so you know, financial prices and stock market prices in particular are not necessarily tied to the fundamentals on the ground. financial prices lead, the market leads the fundamentals. what we have been seeing the outbreak occurred after a four-year decline. now the market is rising in the opposite direction. so the market is leading the fundamentals to come. liz: and you like the bat stocks, of course. i'm thinking alibaba and some of the other names out there. but gordon, you get this final word here on what looks like at least eventually to be a great opportunity to pick up some solid names that will still be

around even after this virus dies out. >> yeah. i'm also sure that you can carry the bounce in other places as well, in markets that are more transparent, in markets where you don't have to worry about this government intervention, and in markets where the economy is probably not going to collapse. that could very well be china right now. so you are dealing with fundamentals that are unknown and actually can be quite severe. liz: great to have you. we will have you back. i'm watching, mark, because i'm very interested in sort of that buffett theory that you definitely want to buy low when everybody is running away. but is this the low is the question. good to see you. >> swine flu in 2009, sars in 2002. buy the market. liz: well, those look like great opportunities in hindsight. closing bell ringing in 16 minutes. the dow is still down about 62 points but off the lows of the session of 190 to the downside. up next, snoop dogg famously

lending a hand to dunkin' donuts beyond d-o-g-g sandwich. we will tell you which chains are about to roll out their latest plant-based treats. check out my latest edition of everyone talks to liz podcast. this man on the screen has made a lot of money since the coronavirus sprouted up. euro pacific capital founder peter schiff, known as dr. doom, made a fortune but of course, going way back to what he looked like one of the guys in "grease" from high school. he always had in mind the way to go was gold. how did he do it? it's an inspiring story. fighting for success and making major calls. these are calls that were not popular when it comes to the u.s. markets. check it out. apple, google, fox news pod casts.com and alexa. don't forget to subscribe. definitely rate and let me know what you think. we hit 100,000 viewers, 100,000

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liz: first it was soy milk, then coconut, then almond milk. now starbucks is going beyond meat. the coffee behemoth officially announcing it's partnering with the plant-based protein maker on its new faux meat breakfast sandwich. it features a beyond meat sausage inspired patty and will debut in canada. they are trying it out on the canucks first? not us first? beyond shares are heating up either way, up 3.33%. starbucks for its part down 1.25%. by the way, the fake meat maker also adding a new fast food giant to its growing roster. golden crust has announced it's launching a beyond offering,

starting today. golden crust joins the ranks of dunkin' brands, mcdonald's and yum-owned kfc as beyond meat partners. they are all lower today. we are also getting this breaking news. the mexican port authority has now canceled the permission for cruise ship msc maraviglia to disembark due to coronavirus fears and bahrain has discovered seven new cases, raising the number there to 33, according to the ministry of health. to connell mcshane. i know you will be covering the coronavirus on "after the bell." dow is down about 57, off the lows but certainly off the highs. connell: that story you mentioned with the cruise, that's kind of an example of what we will try to talk about at the top of the hour in addition to seeing how the markets closed up in that a lot of what we are seeing in terms of economic impact of this virus is the reaction to it. as you know, or the fear of it, rather than dealing in many cases with the virus itself.

we understand information is hard to come by but we are going to try to give people as much as we possibly can. we have a guest who should be terrific, the doctor who oversees the running of 50 plus hospitals in seven different states, including one in everett, washington, which dealt with the first diagnosed american that had the coronavirus. so a little fact versus fiction. she will identify some misconceptions about the virus, try to give people as much info as we possibly can so they can make decisions about their life, their business or whatever they are doing, because that's the problem now. people don't have enough information. liz: yeah. i just want to know if it lives on surfaces. why are we seeing reports of the chinese washing, sanitizing and burning their paper money? connell: there you go. stuff like that. we will talk about it. liz: thanks. i will be watching. we'll be right back. and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk.

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the briefing room. we knew it was going to be at the white house but now it has been moved from 6:00 to 6:30 p.m. eastern. originally supposed to be held at 6:00 p.m. it has been pushed back another half hour. we're keeping an eye on any new developments regarding that. closing bell rings in about four minutes. let's look at the markets, check them here. we're seeing green on the screen for the nasdaq. that is kind of a win after two horrific days certainly for the bulls. we're up 21 points for the nasdaq. s&p down seven. the dow jones down 79. i want to check the russell, as far as percentages it is hurt more, down 18 points. transports down two full percent by 221 points. let's talk about luxury for the moment. the real real is having a tough time so far this year. the stock is down 20% for 2020, despite reporting revenue and profit growth of more than 48%

just last year. but today's "countdown" closer forget the secondhand stuff, go straight to buying luxury brands directly and he means the stocks. we have ycg president brian yacktman. you're talking about the stocks, not the gucci, right? >> actually i don't buy any of it. liz: let that's talk about some names that you like and they are cone glom rats from -- conglomerates from kerring to lvmh. what do you think specifically makes these a bargains right now? >> this is a case of myopia where investors are looking at a single variable. they're just looking at coronavirus and trying to change the gameplan around that. reality there is multitude at play, that affect things like risks and long tern gains.

if the long-term out look remains intact which we believe it does for the luxury names, we want to be involved if they're global champions that have sustainable network effects. liz: let me jump in. you like lvmh, louis vuitton, hermes. and i collect the scarves. what about richemotn. tell us about that. >> they're owner of cartier. that is global status symbol where most businesses are deflationary overtime, and struggle to keep raising prices and grow their volumes, which the world is more globally interconnected which is not happening right now which creates a buying opportunity, these are enduring status symbols because they are global belief network and recognized

globally it makes it very definitely cult to disrupt and gives them pricing power relative to their competition. liz: do you worry countries like bahrain, kuwait, there is a lot of money there, they're very nervous about this coronavirus and they tend to spend quite a bit of money on luxury brand? it is interesting to see that the three stocks you're picking today are in the green, certainly off their 52-week lows. i like that, but give me a sense what you think when you sort of put the coronavirus into the picture? >> sure. well i don't pretend to think that it's over and this couldn't get much worse. who knows. it's possible. i do think the more probable outcome it gets contained but i think, even if you were to compare it to like a spanish flu of 1918, what blows my mind, here was 500 million people infected, sadly took 50 million lives. yet from investor perspective, if you look at it, the charts, you can't tell when the spanish flu happened by looking at

charts. so the long-term outlook looks intact. [closing bell rings] liz: brian yacktman, interesting ideas as the dow closes down 102 points. a fear trade if we've ever seen one. that will do it for "the claman countdown." connell: health fears weighing on wall street are still there. the global spread of the coronavirus has been rattling investors this week. there is a headline mere from new york that seemed to hurt stocks during the day with nassau county officials saying they're monitoring dozens people on long island who may have been exposed to the virus. melissa: monitoring them. connell: none confirmed to have it at all. the market seem to sell off. that is the environment we're in. the dow down 120 at the close. extending losses for five days in a row. good to be with you. i'm connell mcshane. melissa: i'm melissa francis. this is