minister glimpse. the pilgrimage to mecca in july, august, they're saying watch out, don't go all the way. susan li, she has an interview with tim cook, that will air this afternoon on -- sorry, sorry, tomorrow. neil, i messed up the throw to you. it is tomorrow with tim cook with susan li. it is tomorrow. neil: dow, s&p nasdaq sliding into correction territory. the s&p in and out of it. that is one of the fastest jumps into correction territory, the shortest span in the s&p since it holds since 1933. we'll get details in seconds. in massachusetts we hear of 231 individuals who are self-quarantining being monitored, possible california virus case with an unknown origin. when they say something like that, it scares folks. what do you mean unknown origin?

we'll get into that as well. deirdre bolton has all the fast moving developments from the big board. >> neil what a week, what a week indeed. this is the worst week for the dow we've seen since 2018. just the volatility alone today. as we can see down 470 points. we were down more than 900 points earlier. i want to highlight quickly some of the stocks that are limiting the losses on the dow. you have two pharmaceuticals, not a huge surprise in the backdrop of these fears about the coronavirus spreading and one staple which also does sell face masks. merck and pfizer, we know merck has had a long history of developing vaccines. so you do have the stock moving higher limiting some of the losses. pfizer as well, and 3m which does make the face masks. if you look at some drags on the average, part. reason today, why we're seeing so much weight you have apple, microsoft, two huge tech companies that both have

exposure to china. apple in 2019 got 17% of revenue from china, microsoft about 10%. both of these companies saying they will miss this current quarter sales targets because of feeling effects of the coronavirus. also tesla, neil, moving lower as well. keep in mind, they have this fancy new shanghai factory. orders in china, what they are calling china registrations, are down. just feels like people cannot be out and about. don't want to be out and about, depending where we're talking about, whether your choice or your government's choice. in any case, more people staying home this is being reflected, just how much will fears of the virus slow down the global economy? how much is it going to hit the bottom line for corporations? we heard from goldman sachs earlier, 2020, you could see u.s. corporations not reporting too much of a bump up in earnings due to the effects. look at hewlett-packard and

mastercard, if we're all staying home more, we argue, do a little more online shopping, as far as travel, seems like that will be limited. hewlett-packard cutting earnings expectations. mastercard cutting revenue expectations. even going as far as what we consume when we're out, neil. if we're less social, not going to so many bars or going to so many restaurants, anheuser-busch, bud, the stock down close to 8%. the company saying it will have the worst quarter, judging again by earnings in a decade, seeing weaker demand, not surprisingly from china. neil, some moves here, i'm with you as long as you need me. i will throw it back to you. neil: trust me, we'll need you. the bolton thing is coming in handy this week. i appreciate it. >> sure. neil: before we get to blake burman at white house, i can't to get to the selloff with the dow down 430 points.

it is in correction territory, drop of 10% reached from highs a couple weeks ago. nasdaq in and out of correction territory. the next stop would be a 20% correction, which would be the definition of a bear market. a lot of times we get very close, like in december 2018 when the averages were just within a 1/10 or .2 of a point and rebounded. sometimes we slice about 20% and we come back from that. so they can be very short bear markets but that would be the next level. we focus, we've been talking as well how quickly this is all happening. i was talking to charlie brady, our stocks editor, says this is very distinct, it is the shortest span from reaching a high to getting a 10% correction, certainly in the case of s&p if it holds since 1933 and nasdaq if it holds since 1971. what is amounting to be among major markets one of the worst

weeks since the financial crisis back in 2018. we'll all spell that out but a lot of this goes back to the coronavirus and our response to it. so many unknowns but the administration already has the vice president in place for whom we'll be hearing shortly. he is at the cpac conference, getting a sense where things stand. blake burman with the latest from the white house. reporter: a lot is going on in washington. cons dentally the health and human services secretary alex azar is testifying on capitol hill. the top pick was his budget for his agency. he is pelted by his administration response to the coronavirus. azar started out his prepared remarks in part, saying access for testing to the coronavirus could potentially be increasing here in the coming days. >> at least 40 public health laboratories should not be able to test using modified, existing cdc test kits.

in addition newly manufactured cdc test can be sent to 93 public help labs as soon as monday. there is privately manufactured test, based on the new cdc test, sent to the same labs as soon as tomorrow pending fda clearance. reporter: meanwhile top two democrats on the hill put forward what they would like to see happen on coronavirus funding. chuck schumer and nancy pelosi want to make sure when there is a deal between democrats and republicans it would mean the trump administration can't transfer funds elsewhere down the line. they say vaccines should be affordable. state and local governments should be reimbursed for costs and small businesses impacted by the coronavirus should have access to interest-free loans. during her press conference a little while ago, pelosi said a deal on the emergency spending package could be within reach. >> we're coming close to a bipartisan agreement in the congress how we can go forward with a number, that is a good

start. we don't know how much we will need. hopefully not so much more because prevention will work. but nonetheless, we have to be ready to do what we need to do. reporter: neil, you began by mentioning vice president mike pence. we believe we will hear from him in 15 minutes from now. he is set to speak at cpac. that is the annual gathering of conservative grassroots activists and leaders. president put him in control of the government response to the coronavirus coordination. the vice president's office just within about the last 20 minutes here said that they would be moving over the government's top, foremost expert on hiv and aids over here to the white house to join the task force and to help with the coronavirus response. she now joins the team, ambassador debbie burkes. neil? neil: blake, i was a little surprised, encouraged, that the

president didn't go tit-for-tat on criticisms of likes of nancy pelosi and chuck schumer. he didn't ignore them when asked about them. whether you like the president or dislike the president, whether you like pelosi or schumer or dislike them, whether now is the time to stop the political mud ling? reporter: people are saying let's set the politics aside. azar hearing, there is politics involved here. at the end of the day this is washington, d.c. there is money involved and as we know, there is an election year. no matter what, however you want to slice it there are indeed politics involved here. neil: indeed there are. thank you my friend, very, very much. to put it in perspective 27 of the dow 30 stocks are in selling territory. you might notice two prominent standouts on the green side, pfizer and merck, in the arena

where they might come up with something to treat the symptoms or have a possible vaccine down the road or at least treat those who get caught up in this virus. 3m of course looking at the overall global environment and saying it sees things pretty stable, for now. so we're watching that because, you are aware of pocket the where does money go in fast market conditions? we were down close to 1000 points. again we're down about 380 points now but i wouldn't pin anything on where you are at any given second of this day and neither do my next guests. we've got bullock research's catherine rooney vera, rosecliff founder, mike murphy. catherine, when you look at this, one thing to stay calm don't worry about it, i guess what makes this unusual is how fast the selloff has been. what does that tell you? >> tells me that the market was looking for some opportunities

to realize gains and to realize the valuations were getting pretty darn stretched. i would say that it does present opportunities as well though, neil. look at the real estate sector. if you expect as i do the fed to respond, the fed to one time or probably twice this year, chinese fiscal stimulus is very likely in the pipeline. so the question i'm asking myself, no one knows the duration of this contagion or when it will be contained but the question i ask myself, one, is aggregate demand being destroyed or is it being delayed? and two, how effective will policy making be as a backstop to both market declines and economic repercussions? neil: that is an important distinction there, kathryn. mike, i want to pick up that notion with you. mike, it is not as if the strong economy stops. the strength to come is just delayed and that's very analogous to what happens when we have you know, natural

disasters, hurricanes and the like. it disrupts activity but that activity comes back, knowing that mike, in the history of that how do you play these markets right now? >> i think you're absolutely right, neil. what you do, you look for opportunities in this selloff. looking, assuming that this is going to pass at some point which it will, you're looking for quality names like apple, like microsoft that have had big selloffs, like disney, you're saying if you have cash on the sidelines you're putting it to work here. the market had, we dropped 10% in a very short amount of time based on what this virus could become, based on what this could do to the global economy, to the global supply chain. it is not what has happened yet. so if we get any sort of news about the coronavirus that tells us it is being contained you will have the market go focus on fundamentals being back to where it was two weeks ago.

neil: you know what i worry about, guys, i don't care whether you're on the left and the right, i know it is election year, i get that, when you hear tom steyer say this is donald trump's katrina. we don't know where this goes. we don't even know what it call this yet. we don't know whether the pandemic possibilities are real. whether it is fear or heard out of the fda or cdc. there is a lot we don't know, but to jump to that argument does get in the way of addressing it. and that, i'm stating obvious, kathryn concerns me. we could make a much worse situation than is warranted? >> i agree with you. i will add one point with respect to the markets, neil, the political one, it is hard to ignore it. 95% of this collapse has been because of the virus but how much the of it, if you look at health care, look at energy, they disproportionately underperformed. i wonder how much is attached to bernie sanders being the front-runner? i would like to flip the script

and ask you and mike what you think. really the truth is we have march 3rd super tuesday come up if we have a sanders sweep, i wonder if we get another leg down, exacerbating momentum to the downside because sanders becomes defacto nominee? this granterred could go to second ballot convention, but if we have a sanders sweep i don't think the market will take that. neil: i will punt on your very having question. mike, kathryn worked on that beautifully because if the idea sanders gaining strength, does well on super tuesday, you could make an argument that surge coupled with the growing doubts about this virus, you know, has people wondering, maybe the president isn't a lock? it could be overstated but, do you think that's entering the mix here?

>> yes, for sure because i think a lot of investors, neil, realize we will get past the coronavirus. however, if it comes down to president trump versus bernie sanders in the election, i believe president trump wins that but if he doesn't, you're looking, you have to price in a major correction or repriceing of the stock market. if bernie sanders will be the democratic nominee, that gives him a 50/50 chance or fighting chance in the general election against president trump. in the event that he won, that would be much bigger than any impact that we would get from the coronavirus here in united states and for the u.s. stock market. neil: guys, i want to thank you both very, very much. in the meantime. this is not to play politics with this, this is just looking at wall street's mind-set, just as wall street didn't want bill clinton thrown out of office because they were making a lot of money with him, these guys are not red or blue i often say. they like green that they made under this president. anything that could endanger

that or any alternative to him would endanger that and that would be a selling point or certainly a catalyst here. so we're watching it very, very closely. speaking of bernie sanders he is busy as a bee trying to take support from a group normally been scared about him, i'm talking about big tech. many have been vocally critical of him. all of sudden now, he is not saying, wining and dining them but wooing them. jackie deangelis on how all of this is playing out. reporter: good afternoon to you, neil. bernie sanders has been very clear on his reactions to big tech. apple, microsoft, facebook, they're too big, need to be regulated and need to be split up. might surprise you the democrat on the debate stage is not being funded by billionaires received money from most five largest valuable tech companies. the federal election commission raised more than a million dollars from these folks. what is interesting, not

tim cook, bill gates, jeff bezos, but from the blue-collar workers in the companies. sanders will rally in san jose before super tuesday to rally before the primary. elizabeth warren is getting 800,000 from employees of big five. she keeps pushing idea of breaking big tech up. san jose where sanders will rally is 10th largest city in the country. it is also where a lot of tech workers live. sanders praised smaller tech companies for unionizing and championing job security and better wages. jay carney, former press secretary under president obama, senior vice president of global corporate affairs under amazon, penned a recent op-ed in "new york times" about amazon's move to raising the minimum wage to $15 an hour and how sanders called to praise the company for it. the bottom line, bernie is not alienating big tech. he sees its importance, its power. he is working how to use his

message to get that vote, neil. neil: that is very interesting. jackie, thank you very, very much. we're looking at the dow dramatically pared its losses. we try not to jump it tick by tick. starbucks reopened most of stores in china. traders will grasp on anything encouraging in the ongoing coronavirus story. it is a story whose ending we do not know. mike murphy, what do you think of all of this? >> that is a very important point, neil. we saw apple reopening stores in china and now we're seeing starbucks reopening stores. i think if you look, there is no way that tim cook is saying, they shut stores down. let's reopen them to meet an earnings report or drive sales for the quarter. they would not be reopening stores if they felt it was risk to the public or risk to workers. rather than relying on news out of china's government, let's rely what we're hearing from our own top 100 companies doing business in china. if they're reopening you have to

think there is a reason for that. they see some sort of safety on the ground. neil: are you doing anything or buying anything in this environment? how do you play it? >> yeah, so, no, i didn't think you needed to dive into it but this morning we saw disney that had retreated from 153 down to 119 and we bought that. we also saw microsoft retreated from the 190 range down into the low 160s. so we bought that. we looked at apple from almost 330 down around 280 and we bought that. so there are a lot of, any quality companies that has a 20% correction, based on the fear and the anxiety that has been driven by coronavirus as an investor, that's a name i want to buy. neil: those are three issues if you bought at those prices you're up, you're up right now. >> we're up. we're looking at uber. uber correcting thought process no one will get in a car or open a door handle or the business will slow down or stop. the stock is down from 42 to 31.

we bought some of that today. neil: that is interesting. playing case-by-case. don't go anywhere my friend. bring in democratic fund-raiser don peoples. the thing i like about you rise above the politics. you expressed concern with the bernie sanders emergence here how he could hurt democrats and certainly hurt likelihood of a democrat getting elected president but we were exploring the possibility this coronavirus thing accelerates through no credit of his own, not meaning to disparage the senator, he could slip into office because of a meltdown. how likely would that be? we're getting way, way ahead of ourselves but what do you think of that? >> i don't think that is likely. i think sanders is likely if vice president biden doesn't rehabilitate himself i think sanders is likely the nominee just like trump in 2016.

everyone was fighting each other to try to get their lane and left trump by himself. he picked up steam and was unstoppable. after super tuesday sanders will have a lead insurmountable or have a good run for his money from biden. i don't see him, i think it will be a tough position for him to get elected president of the united states under any circumstances. neil: but would an environment outside aberrant or black swan development like this accelerate, it might not, there are signs there are some promising developments, a number of american companies reopening operations in china but leaving that aside, i can remember, you and i chatted about this, barack obama and john mccain were pretty much dead-even in the polls until the financial meltdown and the real estate meltdown. there was six to eight point gap that never really narrowed. that is the only scenario i could see bernie sanders if he were the nominee emerging but

play that out. >> look, barack obama was just a much better candidate than john mccain, who was a wonderful human being and a great patriot. he also picked very poorly on the vice-presidential nominee. i think that hurt him quite a bit as well. i was knee deep into that process because we were big supporters of obama. neil: all i'm saying that meltdown, whatever you say about the candidates or campaigning ability, speaking abilities, that pretty much nailed it right there. >> yay, but also i think how mccain handled it, neil. he should have taken a leadership position in how to solve the financial crisis and address it. i don't think trump is going to abdicate his duties as president in terms of keeping us safe from this virus. i mean, look, he is our president. we need him to succeed and helping protect america and i think he will take, and his administration will take whatever steps are necessary to protect us and you think that may help him frankly as opposed to sanders. i don't think people can look at

sanders say, oh, he will do a better job with a crises than trump. i mean he doesn't have any management experience. so i mean he has been a career politician. it will be tough for him. and he is a socialist. what is he going to do? call cuba in to help us out? neil: having said that i caught up with tulsi gabbard still running for president, still low in the polls, i raised sanders phenomenon. react to this, tulsi gabbard. some people look at bernie sanders as he is too old, too extreme and that if he ran and got the nomination he would need to seek out somebody young, maybe a woman, whose views are not quite to that extreme. that's you. >> i know you're trying to break news here, neil. neil: no, are you kidding? i just look at stocks. so take stock of that, what do you think? >> i'm again, yeah, i am, bernie is a friend but i'm very focused on doing exactly what we're doing, carrying this message --

neil: that would moderate, that would moderate what seems an extreme ticket, right? >> potentially so but i think what's most important for us to focus on is what are voters looking for, when you look at the dissatisfaction they have with the political institutions, the powerful elite who run washington, they're looking for a champion. neil: what did you think of that? >> i thought it was a good exchange. i think she is, she would be a theoretical, logical choice. i think more so for a couple of the other candidates but i don't think she will be in the mix for vice president. sanders though has shown no indication of his desire to take his foot off the gas pedal. i think he will double and triple down on his democratic socialism. he will pick somebody, i think, looking at the debate from the other night as chaotic as it was i think that elizabeth warren is making the play that if she is not the nominee, she could be the vice-presidential nominee.

i think sanders would certainly look to double down on that. he is not -- it will be, if he is the nominee, it will be all out brass knuckle fight at the democratic national convention. he is going to emerge and he is going to pick somebody true to his belief. that would be someone like warren or somebody else out there like that. a woman, a woman close to democrat ric socialism but maybe a little, minor movement to the center, minor movement. neil: minor. real quick, i want to get your thoughts what the president said, when he spoke to the press yesterday, he think as lot of this selling can be attributed to fear that a democrat will win, by extension that you can kiss the recovery and market runup good-bye. what did you think of that? >> i think he makes a point, not that a democrat would win. i think biden or bloomberg would be a settling influence to the marketplace. i think that what's happening are people, are becoming, you

know, concluding that a bernie sanders would be the nominee of the democratic party and if bernie sanders is the nominee of the democratic party, i don't agree with what your prior guest says, he has a 50/50 shot, but he has a shot being president. he is one step away from being president. that would be pretty scary to all of us who believe in this democratic, capitalistic system we have enjoyed propelled our nation where it is today, the leader of the planet. neil: so if you, don peoples had a choice between bernie sanders and donald trump who do you vote for? >> look, that would be a tough call. i can say this, i, based on everything i have heard from bernie sanders, there would be almost no way i could see myself voting for him. i'm a true capitalist. i believe that capitalism and economic opportunity advances all of us in this country and capitalism has made this nation

great. to try to dismantle it would be destructive to the nation and frankly to the world. so i could not be a part of that. so in order for me to ever support someone like that, he would have to be much more moderate around i don't see him getting there. so i would have a tough call but it won't be him. neil: don, always good seeing you, my friend. thank you for taking the time. still with mike murphy here looking at things. mike as don was wrapping up there, we're getting news out of the chicago fed leader, i think it is charles evans, who was saying that the u.s. central bank may need to let inflation overshoot its 2% target in the future as part of an effort to insure price pressures are not too weak, monetary policy doesn't get stuck at near zero rates. what he is also intimating is that the fed is prepared to step in if need be. what do you make of that? >> i think that is just something that has to be said right now, neil f this gets

completely out of hand, turns into a global epidemic what people are predicting, that the fed will do what needs to be done to keep the economy afloat. that is something a fed governor needs to say at this point. i'm not that surprised by it but i do think that should make markets feel a little bit better, just that if things, they will not sit back to let things go completely off the rails. if something needs to be done, their job is to act on that and they will act on that if it its necessary. neil: you know, mike, they don't have a whole bunch of arrows in their interest rate quiver, right? they have a little bit of room here but the fact that laid open the possibility of tools like bond buying and guidance help, that sort of thing, they're looking at revisiting the kind of stuff that ben bernanke was. you have to prepare for any possibility. what do you think if they revisit all of the stuff they did during the meltdown? >> i was going to say, neil, it

is not just interest rate cuts. they have so many other ways they can impact the economy to try to stimulate it. so, i think what he is saying, and i support it, if necessary, they will do, from anything from buying bond to a qe type mechanism or to cutting rates, whatever is needed to keep the economy going. they will not sit back to let a virus, if it were to get out of hand, which there is no signs it is, if it were, the fed would react to the protect the american economy. that is what we want to hear. neil: only thing i have to say on that, you have been very patient, the notion that since market rates are down what good would a fed rate cut do? i understand it might avoid the inverted yield curve that has people freaking out, three month bill yielding more than 10-year note and that invariably gets people anxious but outside of that would it do much good? >> i think it would. you can argue the point we got

past the financial crisis through quantitative easing back in 2018. rather if i heard from the fed, hey, we're not going to do anything here. we'll let, if the coronavirus gets completely out of control we're going to sit back and watch it, that would be very negative as an investor to hear. to hear that the fed is watching, the fed's aware what's going on, the fed will act with whatever arrows they may may have or create new arrows if we need to kept -- keep the economy stimulated. that is what they should be saying and that's what they're saying. neil: always a calm voice, mike murphy. we're keeping eye on how markets reacting to crosscurrents, star best development they're reopening stores in china of the of the comment from the fed governor evans talking about the possibility that the fed is at the ready. i'm soar of synthesizing it there, if needed that would seem to intimate maybe a cut could be coming. some are interpreting his comments as soon as next month.

that might be a leap. i would interpret it the same way. that is out there. we're following that. we're also following amazon cracking down on price gouging for a number of very popular items in the middle of this crisis like face masks. grady trimble has more. reporter: hey, neil. despite the fact that the cdc isn't recommending general public use disposable surgical face masks they're selling out fast. we went to a walgreen's in the chicago area this morning and found empty shelves. similar situation at a cvs nearby. we found masks were sold out there. when they are in stock that store is limiting customers to one box because of high demand. many customers are turning to online sellers like amazon as a result. some third party vendors have been accused as you said of price gouging, marking up mask prices to capitalize on high demand and coronavirus fears. we found boxes on amazon as much as $350. i want to draw your attention to these masks on the screen right now. price tracking site, keeper.com,

those masks increased in price by four times since december. president trump was asked about the price gouging at a press conference. >> there are have been many cases of price gouging on sales of medical equipment or masks, so an. should the government investigate it? >> if you tell me that is happening we would definitely investigate. we don't want that. reporter: in a statement to fox business said, sellers set their own product selling prices and we have policies to help insure sellers are pricing products competitively. we remove offers that violate our policies. these pricing policies are nothing new for amazon. the company has also dealt with price gouging before. during 2017 during hurricane irma, the price of bottled water skyrocketed on amazon as well. neil? neil: thank you my friend. i don't know if there is any lower form of life that people

try to gouge you in the middle of a crisis. there is a unique corner of hell for those individuals. it happens all the time. restaurants are bracing for slow down. how this could bite into profits, his own included. good to see you, my friend. >> how are you, neil? how is everything? neil: people will still cater. >> they women come out. neil: you have all of those businesses going for you. that makes sense it is a real laal legitimate fear? >> there is elderly clientele may not want to go out s there any private rooms or private gatherings, do you send thinks to our home strain a restaurant. to go is growing past couple weeks. neil: is that right? you're a shrewd businessman, you say we're happy to come to you. >> house calls. neil: and good food too. what do people say these days? not a money issue, that they

can't afford it, they're afraid to go out. >> they don't want another thing to affect them. there are so many strains of viruses, colds, just another headache for someone. going out to big crowds or big parties they don't want to do it. we see less and less guest counts on parties. could have 200 people. 170 people. people backing out, staying home. it is growing and growing. they want to be very careful. neil: it would take the bubonic plague for me not to eat but i understand what you're saying. let me get your sense of the greater economy. a lot of people look, say, this will disrupt the economy and we don't know for how long but i always argue, like a hurricane, like a natural disaster, it is not that that activity goes. it is just delayed. what do you say? >> that part of it is delayed but the other part of it, the back end of our business, we have to forecast our seafood which comes from china, asia or even our dishware or silverware. neil: is that right. >> the stuff comes out of china may not be good quality as

american made, it is much more affordable. most of our restaurants and catering halls use it. now you can't get it. deliveries are on shelves, canceled deliveries. seafood, calamari or seoul comes out of china. neil: are you kidding me? go to the shores of maine and swap? >> lobster. you can't forecast. neil: very interesting. one of the things i noticed with the whole china thing, how much of the supply chain is still dependent on the chinese. 70% of even drugs we're talking about to deal with this. you, people -- >> paper cup, a lid. every little silly thing you use comes from china. neil: you would think that, you know, this calms down and it will calm down, i don't know when cooler heads prevail, we rethink our dependency on one country, you know? >> i think it is sad. everything should come out of america on its own. now we're handcuffed what to do.

it will make prices soar. not know what to do with forecasting or even customer base, what do you do? neil: in times like these, what are some of the best-sellers? >> best-sellers now, also lent. back to the seafood all over again. which is great. we sell a lot of lobster. neil: do a booming business. >> friday is my favorite day. ash wednesday is great. leading up to easter, biggest seller is seafood. that is crazy. shrimp is good to have you, all the fresh stuff but that is where it goes. neil: no one works harder, my friend. no matter the success, you're still always working hard. stay at it. it will be okay. >> thanks, neil. neil: meantime here, the cdc confirming the first american with a case of coronavirus through community transmission. now the person has no link to china we're told. could be exposure to another patient, that might seem kind of convoluted. if true, first time happening with a case in this country.

nyu school of medicine associate professor, dr. devi. i heard that, my immediate question i want to raise with you, if one case like that is a case in the united states, just a matter of time before we have other cases like that in the united states and a lot more elsewhere. then what? >> it is possible we'll see greater number of coronavirus cases here. looking at the rate of spread, we have over 82,000 people in other countries that have been infected. i think we'll see more cases. i don't think we will see the same mortality rate we're seeing elsewhere. mainly because the deaths seem to be related to problems with the organs failing and here in the u.s., this is one of our things that we excel at in terms of icu level care. protecting people when they have heart and lung disorders. i think the fatality rate will be much lower. i think we'll see other health effects. we may see people with other medical problems starting to

come into hospitals. having drug shortages and other things. as you mention we rely on china terms of our pharmaceuticals, the supply chains. maybe we'll have shortages of other medications completely unrelated to coronavirus. and then i think also, we might see norm investment in vaccines and or the treatments to address coronavirus which hasn't overlap with common cold. those are also coronaviruses and merz, sars, other deadly diseases. we might see advancements with those problems. neil: i understand health and human services secretary azar, a privately-made coronavirus test could be sent to 92 private health labs tomorrow, depending fda clearance. what is the timeline? obviously they're expediting things for obvious reasons but

play that out. how does that work? >> if that test great identify hog is positive or who is negative that would be great controlling the spread of the virus. right now one of our difficulties we don't know for sure if someone has the infection or not. for example, this person mentioned in california maybe somebody else had the virus and came into contact with him. the second it becomes easier to identify the cases, as soon as those tests become more available to people in other laboratories so it is much easier to test folks i think it will be easier to quarantine folks, contain the virus, control it that way. neil: you know, we're waiting to hear, doctor, from the vice president who is sort of overseeing this, they're not calling him a czar but overseeing the government efforts to respond to this. what do you think of what you have seen thus far? >> i think so far the cdc has been really on top of it. with this particular case there was a delay in testing the individual, mainly because we were focused the country was

focused own looking to people with close contact with someone who traveled from china or coming from china itself. there was a little bit of a delay there. overall if you look at it, we have only 60 cases comparison to 82,000 around the world we really do have good control of this. plus if you look at our history, think about other viruses we dealt with, in the recent past, ebola, zika, they impacted us but our country is very good controlling these types of it breaks. neil: always bears repeating, doctor, i think you should remind folks of base being things you can do at home or at work, to sort of mitigate whatever is going on? >> sure. in general always better to hand wash. stay at home if you're sick. work from home. separate yourself from other folks, especially in this case, tend to be people older with other medical conditions most at risk. in general, take more precautions for yourself and for

others. not just to spread any kind of infectious illness. say at this moment we're more at risk for various cold viruses, flu, on day-to-day basis for most people at home. neil: as you reminded me, doctor, many times, more people die of the common flu than hurt by this. >> exactly in terms of the gross numbers, yes. neil: thank you very much, doctor, i appreciate all of that. the vice president is speaking at cpac conference in maryland right now. we want to look in. is the in the rolled of overseer of all this of coronavirus in the united states. the president has been working closely all parties, including the president of the united states including secretary azar with coordinated response. he might respond to critics amount of monies not involved with what they have. the president had a pretty terse or smart answer to that. if you have more, we'll take it. we're trying here to do that.

the vice president kicking things off there for the administration today on saturday, the president himself will address, i believe in the afternoon. right now, vice president pence. >> hello cpac. [cheering] thankthank you for that wonderf, warm welcome, it is great to be back at this historic gathering at a historic time in the life of our nation. i'm truly honored to be back with you again. before i begin though, allow me to address an issue that i know is on the hearts and minds of people all across this country. the potential impact of the coronavirus here in america. president donald trump has no higher appreciate than the health, safety, and well-being of the american people. [applause]

last month, following word of the outbreak of the coronavirus in china president trump took unprecedented action to protect the health of americans. he declared a public health emergency. we suspended travel to the united states from china. we initiated quarantine efforts for american citizens returning and established a white house coronavirus task force which has literally met every single day to protect the american people. [applause] as of today, we have 15 cases of coronavirus that have been detected in the united states with only one new case detected in the last two weeks. 45 cases have been diagnosed from americans who have been repayry traded from china. while one american has been

hospitalized, frankly all the patients have been treated and are tag well. [applause] -- doing well. while the risk to the american public remains low, as the president said yesterday yesterday, we're ready, we're ready for anything. yesterday president trump directed me to lead a whole of government approach to address the coronavirus in this country and i promise you, we will continue to bring the full resources of the federal government to bear to protect the american people. [applause] and as the president also said it's important to remember we're all in this together. this is not the time for partisanship. [applause] the american people expect us to

work together and i promise you, this president, this administration, is going to work with leaders in both parties. we'll work with leaders across this nation at the state and local level and this president will always put the health and safety of america first. [applause] so thank you for that. and it is great to be back at cpac! [cheering] [applause] the largest gathering of conservatives anywhere, anytime in america! [cheers and applause] you know, matt mentioned that i came to my first cpac back in 2004. i have had the great privilege

to come back here now more than a dozen times and i want to be clear with you, i'm here for one reason and one reason only, and that is that our movement, our party, and america need four more years of president donald trump in the white house! [cheers and applause] >> usa. usa! >> four more years! for more years! four more years! neil: we're monitoring the vice president. if he goes back to the coronavirus and what the administration is doing and progress he is making, he intimated it is contained in the united states with this one known case that was not transferred the normal way, and certainly the way it has been in many countries around the

planet, better than 40 right now, we'll go back to that. related now you're seeing the dow dramatically pared losses earlier in the day when we were down more than 1000 points. that gets in and out of correction territory for the s&p 500. one of the fastest sprints to a 10% slide from highs we've seen in that average since 1933. the nasdaq also sliding into correction territory, the fastest slide we've seen there from highs recently more than a week prior since 1971 when richard nixon was in office. but we're keeping a close eye on it. there were a couple positive developments including a signal that the federal reserve might be ready to cut interest rates sooner rather than later. that is a broad sort of determination based on what one big central bank president had to say. we'll get into that a little bit later. then this news out of starbucks it is going to be reopening its stores that had been shuttered in the face of the coronavirus throughout china.

all of them being reopened. we'll have more after this. [ sigh ] not gonna happen.

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neil: down about 234 points on the dow. senator mitch mcconnell expects the senate to take up you know the coronavirus funding legislation within the next couple weeks. republican congressman, ohio warren davidson with me right now. congressman, i guess a matter of when, not if that money comes, the president seemed to be open if you want more money fine. what is your view on this subject? >> there is no way to spend $2.5 billion in summer. certainly congress is in session now now and summer. there are things to add when you already cut the check. the default by the administration is more fiscally responsible but it is rare that is the president is had something that the congress said, here, take even more. he was surprised. mail us more money. that's fine. we'll put it to use. neil: i believe you guys

determine the money. not the president. he can ask but you can deny it. having said that, it is a moving target, congressman. i wonder if in your sense so much is unknown, i heard a from that a lot of this money will be quickly allocated. it won't be sitting. nancy pelosi was criticizing the fact that the president is not putting enough money. he is taking it from ebola funds which were not all spent. what do you think of that? >> that is exactly where i was going to go, neil. they wanted to give a lot of money before when ebola was serious problem. they cut really big checks. big chunk of money is from things like ebola and zika where money was there but not used t prioritizing existing fund. it is dormant and paying interest on it because it was bore reed. we're doing -- borrowed. it is deficit spending.

whatever we spend whether 2 billion picks or 8 billion bucks, it will be borrowed money. general principle, don't run up the credit card unless it is put to use. neil: thank you, congressman. so much truncated here. charlie gasparino, report on bloomberg, what is happening there, market reaction to whipsawing developments, good news, bad news on the virus, what do you think? >> based on what we said yesterday, it is a dearth of real accurate information. the markets at fairly significant highs. 26,000 on the dow. we were almost 30,000. neil: this is one of the fastest corrections. >> yes but remember, when you have no information on something existentially possibly devastating it makes no sense to hold on to the stocks. you could sell, take your profits, could go into cash, go into muni bond, you can do a lot of different things. that is what is happening now. what the smartest thing the trump administration has done,

appoint mike pence, a very stable guy as he is like the czar so to speak of the coronavirus. one of the worst things they're doing is not giving us real time information on this i think the markets are reacting because there is a gap in information. you assume the worst. mike pence should be given -- they should be doing a daily briefing every day what mike pence gave to cpac, fairly contained, three cases, new cases. neil: he updated -- every day. >> every day. neil: i agree. >> let the markets digest it. the markets traded better when he started speaking before. neil: that and starbucks news, reopening stores in china. >> yes. neil: let me switch gears to michael bloomberg, he is hurting in internal polls? >> listen what our sources are telling us, we have people who know the bloomberg people, they are plateaued, but they are

plateaued nationally after the debate performances. here is the critical thing. joe biden has to perform in south carolina. he got a big break yesterday with clyburn -- neil: yeah. >> it was telegraphed but they will play it up. you know -- neil: his backing in south carolina carry as great deal of weight. >> it is huge. neil: he cannot risk losing south carolina. >> if he wins south carolina by five plus he has a little win at his back, he has to do well on super tuesday, but those are big ifs. neil: okay. >> it is interesting that bloomberg's numbers plateaued despite spending 500 million. it shows if you're a non-entity nationally which he was, you really can't buy your way in here. it is harder to buy your way in. you do have to perform. while trump did lousy, you made the good point he lost the initial debate but he still won -- neil: bringing that up. >> but, he did well -- neil: got elected. >> he did well enough. bloomberg does not seem to be doing -- neil: he did better in his

second debate right? >> better. neil: but -- >> low bar. what do you think? neil: i defer to you as the expert. charlie gasparino thank you very much. as charlie was speaking, we see selloff continue, not nearly as bad as it was, charlie saying the task force that he is overseeing. new pals participating in it, including treasury secretary steve mnuchin, and u.s. surgeon general adams and larry kudlow joining the coronavirus task force. so it is getting to be crowded but with marquee names from the administration. well have a lot more after this. the dow down 25points. correction still holding after this. ♪. 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. ♪ the business of road trips...

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over a billion dollars in transactions and more than a half a million clients worldwide us money reserve is one of the most dependable gold distributors in america. neil: welcome back. the selloff continues. it's not as bad as it was earlier in the day but of course, yesterday was deemed a big disappointment, when after starting the day off better than 400 points, we settled down more than 100. people say maybe we really just want a correction and for awhile, all three averages were in correction territory, down about 10% or more, from highs in the case of the nasdaq, reached a little more than about a week ago. a lot of those averages have since regrouped a little bit, not all of them here. technology stocks are still taking it on the chin although

not as badly as they were. apple was a certain target for that. susan li has just spoken right now with the apple ceo tim cook, a big event going on in birmingham, alabama. how is he dealing with all of this? susan: yeah, we talked about that, his business in china and how apple is coping since they build some would say 50% of their iphones in the country of china but they also sell around 20% of their sales come from the second biggest market for them as well. so we talked about coronavirus, china and what he thinks is happening right now. take a listen. >> it feels to me that china is getting the coronavirus under control. you look at the numbers, they are coming down day by day by day so i'm very optimistic there. on the supplier side, we have suppliers, we have key components coming from the

united states, key parts that are in china, so on and so forth. when you look at the parts that are done in china, we have reopened factories, so the factories were able to work through the conditions to reopen, they are reopening. they are also, i think this is the third phase of getting back to normal. we are in phase three of the ramp mode. susan: i also asked him about disruptions possibly extending past the second quarter of the year, that will be part of our exclusive interview with apple's ceo tim cook. he is here in birmingham, alabama, which was a pivotal city in the civil rights movement but also the first recipient of apple's education fund which is part of their community education initiative, and that's to provide coding opportunities for the unserved parts of the community in the city. that's something that's really important for tim cook, since this is a homecoming of sorts. he grew up in the state of alabama and for him to give back

in education has a lot of meaning and of course, we will bring that special interview to you tomorrow right here for parts of it, right here on "coast to coast." neil: you tease us. thank you very, very much, susan li with tim cook. the stock has rebounded, i believe for awhile today the stock was tumbling about 15 points, down about seven points right now. i believe also, to clarify something that mr. cook said, the cases in china are not going down. the rate of increase, the number of new cases, is going down. other than that, i think was his distinction. jeff flock and phil flynn are at the cme, a lot of attention on what's been happening to oil, what's been happening with those who trade bond contracts and the like. gentlemen? reporter: sorry, you interrupted us. we were just having an argument about when to retire here. i think he's got another 20 years in him. that's the problem, i don't. phil has a longer runway. he's in a great mood because you are making money. number one, traders are making money. right? >> yeah, traders are having a

great day today. i know a lot of the people out there are upset because the market is down but a lot of these guys down here are having some of the best days we have had in a long time. they thrive on volatility, quick movements, and they can make big money in a short period of time. that doesn't happen every day. reporter: we are over in the bond area which is typically quiet because most of this is on the screen, this stuff, but everybody's headed to the safety of treasury bonds right now. >> they are. reporter: another record in the ten-year. >> they really are. if you look at the fed funds futures, the odds of an interest rate cut in march, which was practically off the board a couple weeks ago, has doubled overnight. over 70% now, which it could be, you know, things keep becoming nervous, could be 100%. that's one of the reasons the market bounced today, because the market realizes that if things get worse, the fed's going to step in and that should provide a floor. reporter: here's the deal. i have personally lost over my lifetime here half my stuff twice. not even counting divorces.

i mean, 9/11, 2008. if i'm close to retirement now, i don't have the runway to make -- i made all that money back. i don't have that runway now at my age to make it back. >> no, you don't. that's why we are seeing a lot of flight to quality in bonds and things like that, because other people are in that place. that's why these yields are going so low. having said that, even with this huge correction, we are only 10% off an all-time high. so if you are that close to retirement, get to safety. if you have an incredible run, enjoy your vacation. reporter: i tried to get him -- you can't get phil to be down in the mouth on anything. i try but i fail. >> if we talk sports, maybe. reporter: we are in chicago. maybe. all right, sir. maybe it's not as doom and gloom as i thought. neil: you had the winning comment, not counting divorces. gentlemen, i think you should

take your act on the road. caroline's comedy club us calling. meantime, the vice president addressing the coronavirus fears at cpac conservative gathering. take a look. >> allow me to address an issue that i know is on the hearts and minds of people all across this country. the potential impact of the coronavirus here in america. president donald trump has no higher priority than the health, safety and wellbeing of the american people. neil: all right. he is heading that task force right now but it's coming at a time when more and more u.s. companies are saying you know, we got problems in that neck of the woods, going back to china. hasbro the latest to say the virus outbreak in which the company operates in china, certainly those areas may have significant negative impact on profitability and our overall business. that was in an s.e.c. filing. i try to keep track of companies that have cited this in their business in china and their exposure to it. they include not only microsoft,

which that too is taking it on the chin today, but we have seen it from the likes of home depot, from mastercard, apple, under armour, hasbro, mattel, paypal, hp. i mistakenly said home depot. home depot has avoided all this. i want to be very clear about that. but the list of companies, u.s. companies that have cited this issue, the issue for them going forward or mentioned it in their guidance, 72 companies. 72 companies. all right. we've got the former homeland security department deputy assistant public affairs secreta secretary, "after the bell" cohost connell mcshane and dan geltrude. let's get a sense where you think the markets are standing on this. they run up, then they run down. it's pretty volatile. how do you play it? >> it is. it's pretty hard to figure out. i actually think, i know you hate to give him credit, but

charlie gasparino made a good point before and he said that he -- neil: i hate to give charlie credit? you think i go against a fellow italian? >> i think he made a good point related to he said mike pence should be out there every day giving updates because if he's not doing that, he's allowing the market to fill in the blanks, and that's dangerous territory. we saw how the market was reacting to china trade, literally it was uncanny how it would go up and down based upon that news. i think this administration has to take control of the information being transparent and letting everybody know what's going on, and i think when that starts to happen, the markets will start to calm down. neil: they just need clarity or something to go on. i did wonder, i give full credit for the best and the brightest in the administration, but it's getting to be a pretty crowded car, the task force. now you have larry kudlow added to that, steve mnuchin, others.

that's a lot of cops. >> that's a lot of cops. i think it's really important in these instances to make sure you will have a lot of different government agencies playing different roles in this instance, and you know, like for example, at dhs they will be monitoring people at the border as you come in and out. if fema needs to get involved for different instances, cdc when they are implementing quarantines if we get to that stage which nobody has said in the u.s. that we will, so there is going to be some inner agency fighting there. you really do have to have one person at the white house coordinating this, quarterbacking it, who can say you need to stand down, this person needs to ramp up, we are going to move funds in this way. so i think when you start adding more and more senior level people, you do run the risk of that becoming a very crowded environment. that being said, it does seem that to your point, they do want to be communicating more about the economic impact of this, because of the global nature of trade and how reliant some of these companies are on china. it does seem that with these adds, they are looking to start communicating to the market more and calm everyone down even

though we don't have all of the information because china has not been transparent about the impact of that happening. neil: they have a long history of lying. what do you think? >> there is also information we just can't know. there's a lot of this that is just going to be either cured or solved or figured out over time, and that's what they found out in china. so then a market kind of participant has to decide what metric do i use, do i look at the rate of growth in new cases in china and that somehow i will invest in u.s. stocks, because that rate of growth is going down or do i say well, you know what, it spread to another country, now it's growing faster in south korea as it is, than it is in china, and that's going to affect how i invest. yeah, i agree generally speaking that more information is better, but picking the right metric is very very difficult and if anything, we have a little bit of information overload right now, just little headlines that don't necessarily matter. i go back to yesterday on long island here in new york, well, we are monitoring 83 people for the virus. none of them have it. but we are monitoring them. my view on that was like

wouldn't it be much more concerning if they said you know, there's 83 people that went to china and we don't care what they do, we are not even watching them? it should have been quote, good news they are keeping an eye, testing, all the tests came back negative so far which is what the story is, the full story. but people see the headlines and they sell first, you always say, and ask questions later. we are still kind of, i think we are still even if we come back today all the way, still kind of in that environment for a little while. neil: you know what's scary is how quickly we have seen us arrive at these correction points. charlie brady is like nostradamus. this is something we have not seen certainly in the case of the s&p if it holds it, since 1933. that fast, 10% correction. i know we got to close to 20% in december '18 with the s&p and nasdaq in the middle of that rate hike fear and that the fed was overdoing it but does the quickness of it startle you?

>> yeah, that was absolutely disturbing, neil. i was actually surprised how quickly the market was i'll say overreacting. if there was going to be a correction, let the correction be based upon something that's tangible, as opposed to well, we are going towards a pandemic, no one knows, now it's in italy, in south korea, and this person, you know. the information was so fractured, i think the market actually got emotional and overreacted. i really anticipate that the market is going to calm down and what we saw over the last three days of these wild swings, i really think that they are going to come back into line. >> separate the market from the economy. the same story there is that the lesson in behavioral economics is that the reaction or the behavior becomes the story rather than the number of people who have the virus. it's how people react to it. that reaction is real so the economic impact over a short period of time is what it is. i think maybe the president may have used that phrase last night. it's true. it is what it is. if someone closes down their

factory because they would rather be safe than sorry in italy, a guy can't make a car in germany as a result, that's true. for an amount of time there is a slowdown in economic activity. is it temporary? almost definitely. when does it come back? that's the question. it goes back to it's all a question of timing that nobody can seem to figure out because it's really hard to know. >> i think that -- neil: you talk about timing and frightening people. facebook just canceled its developer conference. that was slated for may over these coronavirus fears. so it is almost presupposing that it's still an issue in may and doesn't that freak people out. >> absolutely. i think you hear the same from the tokyo olympics. they are talking about postponing that or moving that. neil: officials say they are not going to do it but there's a fear it could happen. >> you have heard rumblings about this, lots of conferences, et cetera, like mass gatherings. i think a lot of it is the unknown. because china has hid the ball so much on the impact of just how many people are actually affected, how many people have

truly died, that type of thing, the mortality rate is a lot higher because we don't have the full numbers. >> almost definitely more people have coronavirus than we know. >> exactly. neil: it would bring down the death rate, if they are honest enough to say it. >> about how many people were actually infected and didn't die. once we have clearer numbers from countries, once other people are infected and we have clearer numbers of what the impact of this actually is, i think some of that fear and uncertainty will drive down. also, at the same time, you have the therapeutics and all of these other hospital solutions coming to play and you had different people on the news today talking about how the u.s. in particular has really great organ, you know, i'm not a doctor, but our ability to save organ failure and that type of thing. i do think that right now, it's because you have a country that's been hiding the ball and that also has terrible public health that's scaring the bejesus out of everybody. once we know more about this and it's contained in other countries, i think that will calm everyone down. neil: they are not even going --

all you hear is [ inaudible ] they order the food and we drop it off. is that a bit premature? it would take a major worldwide depression for me to cancel an order out. having said that, that's a little freaky. >> when you talk about a restaurant. here we go. run for the hill. sell, sell, sell. that's the story. the story becomes the reaction. again, i go back to it, we can use all these metrics and put all the headlines out as they come. one person in california, obviously serious from a public health perspective, person gets it in another state, someone gets it here, whatever may happen, the story becomes how people react to it and we kind of can't -- we can sit here all we want and rationalize how what we think, or we can say to ourselves, you know, i look at this as it's sort of like the flu and i don't worry about that, and we should be washing

our hands all the time. all these things are true. but what people do kind of is what they do and once they see someone do it, they start to question. people are questioning things they have no business questioning right now. trips to places that hardly have any exposure, well, should i get on an airplane. you could tell them that's silly but in their mind it's what they're doing. then the economic effect for the time it lasts at least, we don't know how long that will be, is real. neil: or fooiring people for ju sneezing. >> i'm not tolerating germ warfare. you know what it is, can we really fault companies and organizations for exercising an overabundance of caution? i think we are actually playing it the right way. the real issue is the fear and pan panic. doing the right thing. you are doing the right thing and economically it's hurting us. neil: god forbid a business should have to take blame for something. >> i'm going to protect my

organization at all costs. neil: there we go. all the sneezing and coughing fired employees. i'm kidding. he did not do that. i sneezed in my office and people say what's wrong. a lot more coming up, including a tale of two different candidates. one is soaring, the other not so much. it could have very big implications not so much for south carolina on saturday but try super tuesday. next week. ♪ ♪ ♪

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oh no, here comes gthe neighbor probably to brag about how amazing his xfinity customer service is. i'm mike, i'm so busy. good thing xfinity has two-hour appointment windows. they have night and weekend appointments too. he's here. bill? karolyn? nope! no, just a couple of rocks.

download the my account app to manage your appointments making today's xfinity customer service simple, easy, awesome. i'll pass. neil: mike bloomberg is making campaign stops right now in houston and oklahoma. hillary vaughn has some of the details from oklahoma city where this virus issue has been coming up more than once or twice. hey, hillary. reporter: hey, neil. most candidates are campaigning

in south carolina ahead of the first in the south primary on saturday. mike bloomberg is skipping ahead to super tuesday, holding rallies in texas, here in oklahoma and then in arkansas. three of the 14 states that vote on tuesday. but he is talking about south carolina and what happened at the debate there. at his morning rally in houston, texas, bloomberg criticized senators elizabeth warren and bernie sanders for their debate style. >> i am not a typical politician. i think i showed that a week or so ago in the debate. i would never work in a place where everybody talks on top of each other. i'm not someone that just yells slogans even when they're not true. that's what they did. the two of them, the last debate, they have the same answers no matter what the question was. we need a leader who's ready to be commander in chief, not the college debater in chief. reporter: one candidate not in south carolina is pete buttigieg who talked a lot about not being from washington, but he did

spend his morning on capitol hill meeting with the congressional black caucus after one of the most powerful black representatives in congress, house majority whip jim clyburn endorsed joe biden, who started the day talking about health care, reminding voters that he helped start obamacare and bernie sanders wants to get rid of it. >> what we can't afford to do is tear it all down, start all over again. you know, senator sanders' medicare for all push will be a long, long expensive slog, cost over $35 trillion and the patients can't afford to wait. can't afford to wait for what he calls and others call and i believe they are totally sincere, a revolution. reporter: bloomberg will be here in just two hours for his second rally of the day, at his second stop of his three-state tour. neil? neil: we have you traveling everywhere. great job. thank you very much. she's constantly in a jet. meantime, former new york mayor michael bloomberg

promising to spend a whole bunch of million to support the democratic nominee. frontrunner bernie sanders is more or less saying you can keep it. to democracy for america chairman charles chamberlain on how all this is sorting out. what do you think? >> well, i think bloomberg should spend his money any way he wants and that's just fine but i don't think bernie sanders needs it. i think that we've got billionaires already spending millions of dollars in this election, whether it's trying to elect themselves or supporting candidates that they want, corporate candidates like joe biden, pete buttigieg. bernie sanders is funding his campaign entirely by small dollar contributions from people all around this country. that's what's going to decide this election, is small dollar donors, because those are the voters, those are the ones that are actually going to go to the polls and show up and vote on election day. it's not going to be a tv commercial that votes. it's going to be actual people. neil: how do you see that going

thus far? >> well, you know, look, i think when you think about billionaires, i think it's classic that what we've got is we've got in bloomberg somebody who says look, i'm going to spend all my money because beating trump is so critically important but if you don't do it exactly my way, i'm going to take my ball and go home. i don't think voters have a lot of tolerance for that. i think what we want to see, we want to see people who actually have a vision for america, a real commitment to make america better, to move it into a better direction, and not somebody that's just looking to figure out how to make it so it works better for them. neil: if michael bloomberg did end up being the democratic nominee, though, would you sport him? . >> look, donald trump is an existential threat to democracy, to america, and i'm going to support a tree against donald trump if i had to. neil: oh, come on. if a tree were running against the president of the united states, you would -- the tree would get the vote over the

president? >> all right. maybe not. but the bottom line is we need to actually have a real leader in there that can actually handle crises like what we are going through right now. what we are seeing right now is a presidency that -- neil: you think [ inaudible ] as they're going right now? >> absolutely. i think bernie sanders has the vision that would help protect us. imagine right now if we had medicare for all. we wouldn't have people deciding to not go to work or not go to the doctor because they can't afford it so they are not getting checked out even if they have symptoms. [ speaking simultaneously ] >> if we had paid family leave we would also be able to make it so people could decide to stay home from work to protect the public instead of having to go to work because they can't afford to go without a paycheck. the bottom line is when it comes to protecting ourselves, the safety of americans, our health care system isn't the best. it doesn't work. if we had a medicare for all system we would be in a much better place. neil: now a lot of that, bernie sanders has said the rich are going to pay for, it would be a lot of high taxes.

as you know, the markets are not responding too favorably to the prospect of senator sanders becoming president sanders. how do you allay their concerns? what do you tell them? >> well, look, the market gets skittish about everything. they are afraid of their own shadow. we are also talking about a wall street, investors that get happy when workers are fired and corporations move their businesses offshore. so you know, wall street is not really a friend of working people. we all know -- neil: i know a lot of union workers who are looking at their pension fund returns under this president and they might beg to differ. >> yeah, they are also looking at pay wages that have only gone up because minimum wage has been raised across this country. it hasn't been going up because of tax breaks given to millionaires and billionaires by this administration. neil: whoever that nominee is, is going to go up against the president who has record low unemployment rates for key groups across the country, including key democratic

constituencies. would you tell that nominee to ignore that, focus on other issues, or what? >> look, the bottom line is the american people are looking for somebody that has a real vision for america and is actually going to effect kitchen table politics, things that people have to make a decision about whether or not they will pay for health care, for the rent, whether or not they will be able to go to work safely or whether or not they have to stay home to protect themselves from a virus. neil: you think medicare for all, especially what's happening in china where they have health care for all, and that's not working out swimmingly, is a good sell right now? >> well, the problem with what's going on in china is we have an administration that's not transparent, that's hiding what's really happening. i think it's interesting that we have a similar problem with our current administration, where you've got a president that's out there saying oh, there's only 15 problems, we will get to zero in the next few days. meanwhile, the rest of the administration is talking about how the virus spreading is inevitable. you know, that kind of contradictory information is exactly the same kind of problem

we saw in china, and that frightens me. i want to see an actual leader that's going to be transparent and real with the american public. neil: we will see what happens. for now, putting a maybe on president trump but it's very good seeing you. be well. >> thanks a lot, neil. neil: let's take a look at the corner of wall and broad where the dow is down about 400 points. i did notice apple has come well off the worst levels of the day. almost even money right now. but it is still early. stay with us. let's get down to business. 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.

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neil: all right. this is what happens when you got what seems like a health emergency going on. soccer games in asia getting postponed, italy saying some games will be played at empty stadiums. ashley webster has the details. ashley: hey, listen, neil, what you don't want when you have a scare of coronavirus is to have a whole bunch of people packed in together in close proximity and unfortunately, sports does that. they all go to the arenas and in italy which has seen the largest outbreak of coronavirus, is now being faced with this issue of what do we do with our professional soccer games. so this weekend, six games in serie a, the top soccer league in italy, all those games indeed will be played behind closed doors, including juventus versus intermilan, two big teams, two big rivals in italy. juventus leading the league, intermilan in third place. that will all happen behind closed doors. but this has spread.

the impact on sports is already quite significant. obviously in asia. japan just said they will have all remaining preseason baseball games, that would be 72, all of those behind closed doors, no fans. you know, you go through the list. lpga golf tournaments, two already postponed in asia. grand prix racing, already the chinese grand prix in shanghai in april, already postponed. it goes on and on and on. the question is, of course, we haven't seen that in the united states, thank goodness, but we have to wait and see how this develops and if we have -- if we see the type of outbreak here that we have seen in italy and elsewhere, then certainly sporting events are one of those that are really under the microscope because so many people come together. you had a guest earlier talking about the olympics and indeed, the olympics involves 11,000 athletes, all coming together in tokyo for the olympics this year

that's going to kick off on july 24th, and it's not just the athletes, it's the people who come to watch the games. so the olympic committee says they will wait until the very latest, at the end of may before making a decision. but the olympics has only ever been canceled in modern times because of war. so this would be quite a major development. but that's getting ahead of ourselves but certainly, sports having been affected majorly by the coronavirus. neil: amazing. ashley, thank you very, very much. all these quarantines are creating a lot of headaches for folks, not just for those stuck inside. public officials are hesitant to even take them in. take a look. >> we asked senator shelby a short while ago, he was among those advocating not in our state, now i guess the issue is how about in your city. did anyone ever tell you why it was chosen for this? >> right now we have an injunction in place. they were planning to move

people in in the dark of night. we were informed on a thursday night and then they were expecting to move people in by sunday, 30 to 50 people. so it sounds like it was a combination of both the federal government and the state government deciding this. neil: can the federal government force states to take in patients, you heard the mayor say there governor newsom of company will no doubt be addressing this. he's speaking to reporters now. we are monitoring this press conference. we have judge andrew napolitano weighing in on whether that can become a forced issue. >> this is going to be different in different parts of the country. in some states, the state government can force localities to enforce quarantine. but the federal government has the authority to enforce its own quarantine. they have three types of quarantine. you can't come out of your house. very difficult for them to micromanage on a mass level. you are quarantined at a federal hospital, a little bit easier. or the one that's easiest for them and most offensive to those quarantined because usually the

quarantined people are not ill, they don't have symptoms, quarantined to a federal military base. so the only time this was challenged, the court said the feds had the authority to do it and they have the discretion to do it. you want to get out of the quarantine, you're not going to leave, you have to hire a lawyer and the lawyer has to go in and somehow prove you are not infected and are yyou are not exposed. that is very very difficult. if you don't have any symptoms, how can you prove a negative? how can you prove you are not? neil: where does that leave the mayor of the city that says i don't want them here? >> there's not much the mayor can do. if the federal government, if the united states public health service says everybody in, fill in the blank zip code, is quarantined and can't come out, as monumental an inconvenience and economically catastrophic as that would be, the feds can do it, as long as they make public health -- can't do it for political reasons or socioeconomic reasons, but if they do it for public health reasons and they can back up the

reason why this particular zip code, people in there need to be confined, the courts have said they have the authority. this has never happened, neil. so this has never been challenged on a mass basis. the only challenges we know of where judges were forced to rule on this is where single people were quarantined. remember a few years ago, governor christie in new jersey quarantined a nurse who had come from africa, even though she hadn't been in the part of africa where ebola was. she challenged it and they let her out. this was one person. this wasn't the governor quarantining thousands which is probably -- nobody wants to talk about it today but what could happen. neil: a distinct possibility. >> yes, it is. neil: at what point do governors get involved, senators get involved, we had the alabama senator on, a lot of these people who were sent to this california city, to the mayor's chagrin, he had convinced the president to move from alabama where they were originally. you are going to have this. >> that is the other problem. it's one thing to say you can't

leave. it's another thing to say you must leave and go t to a place that is foreign to you. from alabama to california? the feds have the authority to do that. however, they have to pay for it. they have to pay for it. they are going to move you from a to b, force you to stay in b, they have to pay for the move and pay for the housing. neil: a lot of freedoms will be compromised in the wake of a national crisis, right? >> yes. you think they are going to come after me? neil: that's a given. you don't need a national crisis to do that. judge, thank you very much. i was curious about that, how that would fall out. that is a real legitimate fear right now, especially when we get these reports of virus fears that are continuing to rise in europe as we speak. governments across the eu are declining to reinstate border checks. a lot of them, especially when it comes to italy, avoiding contact all together. the former foreign policy adviser under margaret thatcher,

nile gardner. i guess in europe it started with italy and extended now to these increased cases we are hearing out of germany and france. i don't know what the latest is out of england. but people are getting anxious there. how anxious? >> well, i think that there's great concern across europe. you have i think coronavirus cases now in most major european countries, in the uk it's about 13 or 14. but in italy it's around 400 or 500 cases of the virus, about 23 in germany, 14 in france. that number is growing. certainly that's having a big impact i think in terms of growing calls for border controls across europe, and i think this is going to be a huge issue in the coming months for europe, whether european countries are going the reinstate border controls at a time of significant emergency across europe and without a doubt, i think the european union as a whole actually or the eu as an entity is almost sort

of irrelevant in terms of dealing with the crisis because i think it's nation states who are actually stepping forward to deal with the coronavirus issue. the eu itself i think really is incapable of doing anything. and i think that it's really up to nation states to deal with what is a growing crisis across europe and i think you are going to see border controls being reinstated in many european countries as a result. neil: we talk about the risk in the middle of a crisis that a lot of rights are sort of stomped on, a lot of people say for the good of the general public, we are going to put individuals in quarantine, whathave you, that doesn't go over well, but i always wonder what maggie thatcher, how she would have balanced that if the same thing were to have happened during her reign. >> i think firstly, if lady thatcher were still alive today, she would have greatly

celebrated brexit and the fact that the uk now is out of the european union. i think that the uk is actually better prepared to deal with this virus compared to members of the european union. the uk certainly has and will regain shortly full control of its borders at the end of this year. but i think that margaret thatcher certainly would demonstrate strong, robust leadership but her message would be that the best response to this virus is for nation states basically to reassert their sovereignty, for national governments to lead rather than vast bureaucracies in brussels. she would have urged, i think, all european governments to take the lead rather than relying upon the european union, actually, to do anything with regard to the virus situation. so i think that, you know, the coronavirus issue has put into stark spotlight the issue of

nation states versus national institutions and many european governments now are facing tremendous pressure, i think, domestically to bring back border controls to ensure nation states are effectively able to deal with what is potentially a major crisis for europe. certainly i think the key message margaret thatcher would have put forward is that national governments have to lead and that we can't rely upon, you know, bureaucratic entities such as the european union. neil: well said. thank you very, very much. by the way, as nile was speaking, the selling accelerated doeat the corner of wall and broad. we are getting news that not everyone is canceling plans for conferences and travel events. google says its developer conference is still on for may 12th to 14th. it is monitoring the coronavirus developments but that it's still on. facebook has canceled its own

conference that was planned for roughly the same time. i don't know the locales of either of these. but that has been shelved on the part of facebook. facebook down a little more than five bucks a share, over $192 a share. a lot of the tech stocks are in bear market territory. some of them have already fallen at least 20% from their highs. but with these developments again, as i often say, a lot of these guys sell first, ask questions later. what's fed this are reports of new cases in germany. only thing i can tie it to, 14 new coronavirus cases in germany. so virtually the entire european continent is experiencing, as all the continents on the planet are experiencing this. you might have heard tim cook talking to susan li earlier and said earlier on this air, the apple ceo, the rate is declining in china. i think what he meant to say, the rate of increase is declining in china, but the fact of the matter is it is still an

increase, what's happened and what's noteworthy is that it's increasing far faster outside of china, and apple which had come close to paring all of the losses, is now down about 13 bucks a share. all these developments. my panel back with me, lauren, connell, dan. dan, i never, i often talk about this, going tick for tick in whatever the market is doing any second, but they do cling to whatever the latest news is on this virus. it's fascinating. better it is, stocks bid up. worse it is, stocks go down. we have not broken that. >> no, we haven't. we are going to have to see what the stream of information coming forward is going to be. that's really going to dictate how the market reacts. but as we have been saying, the most important aspect here is that there is transparency through all of this. i think the market is okay with bad news, as long as they're not surprised by the bad news. that's really the issue. look, we already know this is a potential pandemic. the market understands that.

but they want to know what's happening. they don't want to hear all of a sudden that, you know, there's 10,000 cases in europe out of nowhere and no one saw it coming. that's really what will upset the market. i think we are getting to the point where everyone realizes that based upon what's happened in the last three days, that we need to have continuous information flowing from the administration. neil: you know, a lot of times we look for promising developments, i can remember covering the '87 crash way before you were born, boy the w way, showing my age here, you look for good news, peter lynch famously looking for ibm, ge, barring that it takes a lot to get aggressive sellers into dipping their toes -- >> sometimes it's level, sometimes it's just the fact of someone stepping back a little bit. we were talking about how much information we can have but knowing we are not going to know exactly how this is going to play out for a matter of weeks

or months or longer, to say to yourself things like well, you know, the market generally speaking is 10% off its highs in a week. is that too much? then somebody might say that is a little bit much, let me buy a little x, y or z, then we come back up a little once we get down to whether it's a round number like s&p 3,000 or some technical level someone else is watching, here we come back up a little bit and to your point, we get some sort of headline like we get from overseas and we are back down. that's why i said earlier there's no reason to think we won't be in any other environment other than this one, up and down and probably drifting a little bit lower, until we get some sort of overall grasp on how big a deal we are dealing with here. neil: you know, i know you don't keep in constant contact with everyone in the white house but you keep in contact with enough to know that one of the strongest things going for this president, had been the strong markets, the strong economy. there are no economic signals that any of this has had any impact, if anything the housing environment is boffo strong, retail sales still very very strong, but do they panic at this? do they say if this drags on much longer, it could put a

crimp on this? >> i actually take offense to the fact that a lot of democratic messaging has been to attack the president's reaction to the stock market because i don't think that that is his sole driver. neil: he does mention it a lot. >> he does mention it a lot but i think that's part of his broader messaging about how well the economy is doing, because it's an easy stat to kind of point to. neil: there are lots of other stats he could point to that indicate that strength. if you cling to this puppy -- >> i do think he cares much more about, you know, the american people and their response to this than just the stock market, right. so i think that's kind of like a cheap shot. but i will say i don't think that the president politically will be judged by how well the stock market is doing or not doing or how much they are reacting to this because i do think it's uncertainty driving it and it will all sort of flat line or correct or however that goes. neil: do they even panic a little bit? >> i thisnk the panic comes because they will be judged by their response to this.

that's why you have a president putting vice president pence in charge because they need the steady, stable, consistent messaging around this, the whole of government response, those types of things that need to be said to make sure that the people know the government is on top of it and are reacting. if something goes wrong and this is not responded to well, that is going to be the thing that kills the president and his re-election chances, not the stock market. >> it is a really important point because if we look at it just broadly speaking, we say well, the economy goes down so the president gets hurt by that, that may be true but i think in this particular scenario, people probably will be forgiving of an event that you couldn't control, if you are perceived to have handled it well. if it's an event, president bush and katrina, all kinds of other events where the perception is that you didn't handle it well, then the political consequences might be different. i think. we don't know. neil: that's why i think it's a leap. no matter how you feel about the president and of course, he's not a huge fan of mine, that's fine, but tom steyer saying this is trump's katrina. come on.

>> little premature. >> way too early to say something like that. >> if i'm the president, too -- >> i would actually not say something like that. neil: you would not. >> but look, i think the white house has to be concerned about the virus for obvious reasons, for the health and benefit of the american people, but listen, there are political consequences to be paid if the market goes down because he's always been cheering about the market and now he's got to deal with what's happening. >> just the numbers, too, if you are a pessimist you would say the only thing the president has going for him politically is the economy. if you are an optimist or supporter of the president you would say that's a pretty good thing to have going for you if you are running for re-election. we polled a month ago at fox, give or take, and the numbers on the economy approval wise for the president were 56%. it was and has always been throughout his presidency the one issue that he stays above water on. his numbers on every other issue are poor. 42% on guns, 41% on immigration,

40% on foreign policy, down the list. but if his economic numbers do slip, they haven't yet, they have been strong, then yeah, there probably is a political consequence no matter who you blame. >> -- if you are all of a sudden running against bernie sanders, you know, then people are looking at okay, well, i will take my chances with president trump even though the economy isn't doing as well as it was haves now i will be giving my versus paycheck to the government because of bernie sanders' tax plan. [ speaking simultaneously ] neil: i wouldn't judge him one way or the other. he's just out the gate dealing with this. calm down. >> it's a little soon. neil: i want to bring in the former nfl player, jack brewer. jack brewer foundation. he's going to be meeting with the president later today. jack, what do you make of all this? we have been talking about how this, how the president handles this, first outside event of his presidency over which he has no control, but he is responsible for controlling it here. how do you think it's going to

go? >> it's a big opportunity for him, i think. you know, you look globally, a lot of countries i don't think have handled this situation very well. so i think this is actually president trump's opportunity to show the american people on both sides of the aisle that he can, you know, handle a major event like this. this is probably the biggest test of his presidency. as you see obviously the markets have continued to go down, but as the markets go down, i think people are also in fear mode where they are going to be really watching these democratic nominees for president and saying do we really want these guys to run our country right now, going through a crisis like this. we have already been so much stronger than china and so much stronger than all other global economies, and i think that's going to actually help the president in the long term. neil: this being black history month, i know you will be meeting with the president for an event at the white house on that very subject, i talked to a number of prominent african-americans including south carolina senator tim scott, who said you know, i think there's a good possibility the president will have a lot

more african-american support, maybe 50% more support, in 2020 than 2016. now, he got 8% of the black vote in 2016. if his math is right it could be 12%. he said as much as 15%. do you think he's right? >> i do. i think it will be more like 20%. presidents for the last 50 years have gone around and made false promises to african americans during election season, and now you see a president actually in the community. i mean, it's been amazing to actually see so many of the trump campaign members in the black community. i have never seen anything like it. you know, it's really hats off to him, particularly during this, you know, february black history month. i think it's a time to really acknowledge the president for being bold enough to go in from criminal justice reform to going in from opportunity zones and actually being the first republican that i know in my lifetime that i have seen actually touching the black community. neil: i would be curious, you

know, when you talk to other african americans and you speak of your support for the president, how do they handle that? i would imagine with you, it's kind of tough because you can beat them up. but, but if you didn't have that basic skill set, one of the greatest football players ever, how do they treat you? >> you know what, i get pushback from some but i tell you what, i have brought so many blacks from being completely against president trump to joining and actually sporti supporting him the simple question, is your life better, is life better for our kids and grandkids and most of them have to say yes. unfortunately, most african americans like myself have either relatives or close friends in prison. so how can i go into a prison, i teach in prisons two or three times a week, how can i go into a prison, ask my guys raise your hand if you have been affected by the first step act, all of

them raise their hand and say the president's act has helped them reduce their sentencing, how can i be against this president when i watch all these presidents in years past do nothing? neil: very well put. i only ask you these tough questions when you're on remote. if you were here in person, it would never come up. but it's good seeing you. enjoy the white house today. thanks for all you do and all you are. i appreciate it, my friend. jack brewer. he and i are so much alike with the athletic skills and everything else. but i digress. what are you saying? okay. it's interesting what he said, because i have heard that maybe this is part of what we don't appreciate, could we, you know, we talk in the media how we rely on polls that are wrong, even though they got it right, popular vote and all, but are we missing in battleground states the same phenomenon over again? this quiet support for the president that will be will? >> if we are, he will be re-elected. that was the story last time to some degree. the african-american vote would be obviously key to the point

where it doesn't really matter, it matters a lot, i should say, on a marginal basis, if you go up. it's not like anyone is expecting him to win the so-called black vote. neil: you pick up that much, it could offset maybe the weakness you are having with female voters, right? >> well, suburban female voters i think is where he's weakest. i think you are right, really what we are looking at, if president trump, your campaign talked about this all the time, if president trump is so strong with the people that elected him the first round, if he just replicates what he did in 2016, he wins the white house again, right. but what he's doing because he's coming from such a strong spot, he's actually been pulling in these small numbers from all of these different groups that wouldn't normally support him. neil: he's got to pull them all back in the battleground states and they were close as a tick. >> yes. but when you look the ahat his numbers, they are pulling in democrats that -- like they've got a number where it's 20% of their rally attendees are actually registered democrats. >> which gives them contacts to go after and data and analytics

to go after those. >> to go after them afterwards. if they can convert even a small portion of that, they are winning again. i think in the suburbs, it's less important except for maintaining control of the senate and the house and bernie sanders is at the top of the ticket, then that eliminates that concern. neil: we were mentioning the wild card in the coronavirus. the president is considering invoking special powers through something called the defense production act. it would expand his domestic production and improve domestic production on emergency basis, protective masks and clothing to combat the virus in the u.s. taking executive powers to get ahead after crisis. what do you think? >> i think that is a good move for the president to do one it will benefit him politically, taking charge, doing the right things to take control of the situation. from the standpoint we were talking about, somebody has to be center of this to make sure we're having this virus under control. neil: last president to do that

was fdr right after world war -- after pearl harbor, he repositioned auto companies you will make tanks and weapons right now, right? they were fine with it. they did it. >> not to look at everything through a market perspective, we have debates, should the fed cut rates. if they do signs things are bad or we better sell or reverse psychology becomes the issue. we don't have a lot of information. when you make announcement like that, dan's right, good move, getting on top of it. other people say, if they're doing that how bad could it be? leadership is important, balance of all leaders, particularly a the president have to strike. neil: do you think rate cut would benefit? i guess it would help the yield curve. it wouldn't go up but i think we're getting arcane would it make much difference.

>> i don't think it will, neil. neil: now you're agreeing with me. no, con them. >> go on record, i don't -- look, if we look what is going on in europe and other countries around the world struggling economically, they have negative interest rates. neil: right. >> so that is not the ends to every problem. we're so low right now, i don't it, i don't think it is the time to have to go to that. president trump is already on that issue in terms of the fed has got to come down. i just think we wait and see a little bit. i don't think that is the answer. neil: do young people look at low rates, i'm in. >> looking me, right? he is young. >> why are you not looking at me. neil: he could be your big brother. i could be your father and grandfather. make a different reps to young people when they hear, wow look at rates? >> i'm not the best to answer this question because i obviously work in politics. neil: wow, someone is being --

>> look at the time. neil: didn't want to put you on the spot. don't forget, tim cook, looking at all the developments, coronavirus a lot more a little later on. meantime, charles payne. hey, charles. charles: neil, thank you very, very much. we have a big show coming up, folks. good afternoon. this is "making money". markets are sharply lower fifth day in a road. coronavirus and economic speculation keep hammering this market. first here is the latest as we know it. the cdc announcing a person in california who reportedly dipped not travel outside the u.s. or known exposure to another patient tested positive. the u.s. is managing 60 days right now though most of them came from the cruise ship that was quarantined in japan. mike pence will kick off the coronavirus task force. that is later this hour. a high school in washington state has closed after a