lou: i'm lou dobbs in new york. you have been watching a press conference initially with the president and members of the corona task force talking about what they are doing to protect americans from the corona outbreak which many are calling including this broadcast a and dem i becauseo -- a pandemic because it affects 111 countries.

the dow jones industrials plunged 2,000 points. and trading was halted trying to break the slowoff. the circuit breaker slowed but didn't hit a decline. the national left-wing media playing up fears of the coronavirus that affected 113,000 people in 111 countries and territories around the world. we'll turn to the dimensions of the pandemic here at home later in the show. vladimir putin refused to go along with saudi arabia and opec to boost oil production. the result soil prices suffering the worst collapse since 1991. for the day, the dow, the nasdaq

and s & p dropping 7%. the losses amounting to $2.5 trillion in lost market cap. we'll have lots more on what to expect in the days ahead. the worsening outlook for the coronavirus pandemic is bringing more fears. a cruise ship carrying 3,500 people docking in oakland after spending the past five days offshore. 21 people on board the ship tested positive for the coronavirus. after removal from the ship all passengers will face a 14-day quarantine. there have been a total of 607 cases of the wuhan virus. they have been confirmed and 22 people have been killed. those numbers pale in comparison

to the number of flu cases over this blue season. the relative scale of the coronavirus and the flu in this country consider these numbers. since october in the united states alone, the centers for disease control reports there have been 34 million cases of the flu. 300,000 people have been hospitalized. these are the widest ranges you will see. at least 20,000 americans have been killed by the flu. at most it has killed 52,000 americans over this flu season going back to october. obviously wide ranges but sobering estimates by the cdc. the coronavirus making an impact on capitol hill as well.

five lawmakers deciding to self-quarantine themselves after they came into contact with someone who had the coronavirus, four of them are republicans who had contact with a man at last weekend's cpac event in maryland, 10 days ago. congressman doug collins is one of those lawmakers and he joins us tonight by telephone. i will begin bying, how do -- i will begin by asking. how do you feel? >> we feel great. we are asymptomatic. we have been going great since the cpac. but after finding out we had cometh contact, we didn't find outle until 1:00 this afternoon that we are one of those people. we need to take our precautions. when you follow precautions you do what's right.

by simply having contact, minimal contact with someone, you don't automatically get the virus. we feel good being on the show with you. lou: i want to commend you for doing the right thing, self quarantine when we find out we have come into contact with the virus or someplace hosting the virus. surfaces, whatever it may be. your thoughts -- i want to put up the others who have self-quarantined if i may and senators. congressman gosar, congressman collins as you are aware, senator ted cruz, and brownley are all self-quarantining.

how closely in contact were you with the vice president or the president during your type at cpac? -- during your time at cpac. >> we have had contact last week. it was a regular workweek. and we worked with the president. but it needs to be confirmed that i'm not symptomatic. and up also past the normal incubation period which it would have shown up. i wish we would have found out sooner. but this just goes to show what the president and vice president said to calm our markets and calm our folks is this is something to be taken seriously. do the basics and make sure you are take care of yourself and we'll get through this. we look forward. this an example. we want to remind people, doing

the basics. like your mom used to tell you. wash your hands, avoid people who are sick. if you are not feeling well, go to the doctor. the doctors i talked to said i don't need to be tested because i'm not showing any symptoms. lou: we need to keep this in context as we have done throughout the coverage of this outbreak. we are talking about 22 deaths, 607 cases. and we are talking about a influenza season that ranges from october to april. and we know there is a range, it's only that range of somewhere between 20,000 and 6 million americans who have died.

it seems the left-wing media has lost all context here. >> we are making sure people know if they do the precautions, even if the normal flu season, these will work for all these communicable types of virus. do the basics, do the cleaning, and personal hygiene that is respectful for everyone during this time of year. it calms the market and lets people know though it may continue to rise and there will be more case, we'll get through this and our folks and our economy are strong and that's what the vice president and the president's task force have done today. lou: congressman you have set a terrific example for all of us. stocks today pummeled by the coronavirus fears. the price war between oil

giants, saudi arabia, russia and opec. crude oil falling 35%. let me say that again. the price of crude oil is 31.13 a barrel. brent crude fell to 34.36 a barrel. the dow down 2,014 points. the s & p down 200. the nasdaq down 625 points. you will forgive me for rounding that off i presume. and all of the index is down more than 7% on the day. joining us is the managing director at moody's and great friend of this broadcast. great to have you here. you and i have seen a few. this one i have never seen the

likes of, going back to 1987. this is something special, something unique and you be precedented about it. your thoughts? >> it's the visible black swan. we haven't had anything like this since the spanish flu. there is no template. no precedent for this for people alive today. so we are dealing with a lot of uncertainty. it's understand stable markets are jittery. lou: it's also understandable that there is not a big applause for 31 dollar a barrel oil. this is a destabilizing event in the global economy which is already fearful of the impact of the coronavirus, fearful of the

uncertainty because people have misjunked what that effect might be. i can't think of a time when more concern has surrounded the economy in the globe than right now. >> we look at treasury bond yields. they are all under 1%. the argument has been that when we would see treasury bond yields so low, that would be in reaction to a recession. but the good news is we are not there yet. lou: the reaction seems to be the worst case -- the reaction in terms of policy seems to be toward the worst case scenario. not that it's here or at hand. but rather that we are -- whether it's the federal reserve or policy makers in the white house or capitol hill. they are looking at the worst

case scenario, and that is being compounded by the left wing national media who wants to make political hay out of this. >> the last thing people want to see. you will have a lot of small businesses that may have problems meeting payroll, small businesses making good on their debt obligations. we need some support in washington and backup that compensates for this act of nature. lou: the idea that there are some steps being taken. the white house made it clear not on today, but? days previous that they will do whatever they can for people who do not have understand. they will get tests for anyone who requires them and perhaps

even beyond that. these are all steps -- i hope personally the white house makes sure that money goes to individuals and not necessarily ngos and non-profits, but directly to individuals. 2008 we watched instead of giving that money to people who were being foreclosed upon, they were giving it to banks and various other entities rather than moving that money directly to the people who needed it most. we learned a lesson? 2008 and that is you can save a lot of money by spending it directly for those who need it most. >> we have to think of those groups that are most vulnerable. elderly americans, people from preexisting conditions. that's what we have to be concerned about. perhaps that's where we have to go out of the way to see that

these groups are protected. lou: i have a personal aversion to some of these words that are used. communities, elderly, weird old people if you are over the age of 60. but if you have got infirmities, you are sick, whether if you are at that moment sick or not, you have a person who has an illness of some sort. talk straight. we are americans. our public policy people want to divide this thoin nonsense in my opinion. >> when you talk about people being hospitalized because of the virus. they should point out the average age, whether they have a preexisting condition. that might lessen the fear fact for that has arising. lou: older folks have every reason to be fearful in this contagion if it does reach their city, community or neighborhood.

it obviously is hitting people hardest who are 80 years order older. the next is 70 and older, and then 60 and older if you are sick in some fashion. it makes sense. come pr -- compromised immunity. >> let's not forget about those businesses that where being hit hard by this unexpected event. lou: i think this is a country, we are rich enough and strong enough that we can set a standard for the world. i'm pretty sure it's exactly where this period that's so uncertain will be remembered in the years ahead. >> interest rate cuts and tax cuts. target the aid so it does the most good. lou: john lonski, how soon do we

get out of it in. >> i will make this forecast. if i'm right i will get the nobel prize. we'll be out of it when the heat of summer comes. getting in trouble now. lou: up next. some american technology companies are willing to sacrifice national security for their own bottom line and they have the chutzpah to stand up and say they are just worried about the trade deficit, forget national security. we'll take that up with someone who never forgets about national security. william barr on capitol hill talking fisa reauthorization with republicans. what kinds of deal are they making? we'll find out. judicial watch's tom fitton who watches such things closer than

anyone joins us next. while the world keeps fighting for your attention. we'll keep building smarter suv's. to help keep you focused on the road ahead. and. the road beside. did we mention the road ahead. with an available best in class. epa estimated combined fuel economy and the technology to practically park itself. this is the reimagined 2020 ford escape.

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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. lou: breaking news. attorney general william barr meeting with house republicans to talk about a plan to reauthorize the fisa program set

to expire at the end of the week. fox news being told both sides appear close to a deal. republicans saying there are several items being pushed in any reauthorization package. the president said he does not want reauthorization without reform first of the fisa legislation. and operations. they include making the department of justice show their work in order to justify any fisa investigation. penalties for any who politically abuse the fisa process. and the production of a transcript of a secret fisa court bree seeding. any -- court proceeding. any and all of them. vote in our poll tonight. should fisa absolutely be reformed before any reauthorization is considered? please cast your vote on twitter

@loudobbs. joining us tonight is tom fit on, the president -- tom fitton, the president of judicial watch. this has a certain smell to it, tom, to me at least. your thoughts? >> congress is being asked to reform fisa and we still don't know the scope of the criminality behind the fisa with carter page and everyone else. we asked for the transcripts of the fisa hearings for the four warrant applications that targeted the candidate for president. this is a scam that we need fisa to protect our national security. the president has inherent ability to conduct surveillance for national security.

we need to put people in jail who violate the law. it's absurd. lou: absurd, and it is also disappointing. that's the word i will use. frustrating. attorney general barr, we are told repeatedly from friends and close associates that he's the man for the job and we can trust him. what we are being asked to do in this instance in our republican and democratic legislators in washington. we are being asked to trust mr. barr to do what's right and take care of all those breaches and abuses of trust by federal officials, namely those in the department of justice and the fbi and our intelligence agencies. in some cases the chiefs of those agencies and not worry our

pretty little heads about the details. >> the concern about fisa is the opportunities for abuse. they are note policing the fisa abuse taking place. reform isn't going to fix it. we don't need fisa. we didn't have fisa to try to reare strain the president in the 70s. it's like the war powers act. but the whole point is, what do you do if the law is broken and there is abuse of power? nothing is being done. i am not hearing anything for reform to show me there will be accountability for what's going on. lou: it's an important question to ask. kevin mccarthy, the minority leader in the house. it's of particular interest to the speaker of the house, nancy

pelosi who made it clear who her friends are in high places and the department of justice, and the fbi. the democrats seem to have more friends than the republicans, i will put it that way. i don't know why any republican would accept this nonsense. not a single reason. let me turn to the hillary clinton judicial watch deposition. where do you stand with it. time is running out. >> the court ruled she has to be deposed on the seem case within 75 days. that runs may 16. we don't expect her to appeal it. what's interesting is the court excoriated this justice department and state department for trying to pretend there were no more questions to ask. and we had the fifth amendment

asserted indirectly. one of the lawyers for hillary clinton's email vendors said his client will assert the fifth amendment. the fifth amendment raise its ugly head higher. hillary clinton after all of this is happening or the weekend said the concerns about the emails are bogus. we have an indication about her views of the court's concerns about what she did with her email system. lou: i would like to take up so many things including the biden criminal enterprise. but i want to 0 quote judge roy lambert. i think the audience would be well served to see this. the clinton email system was one of the gravest modern offenses to government transparency

according to judge lamberth. one company says they have a vaccine that will be ready for the open mark it. china's economy feels the pain of the virus.

lou: joining us, dr. michael pillsbury, author of the hundred year marathon. let's start with the report from the "wall street journal." this is a stunning report. exports by the chinese from january and february versus a year ago, exports down 17%. is that in your judgment a direct impact to the coronavirus outbreak in china? >> yes, lou, i don't know what

is it can be. all their large fam factories in central chainr have been shut down. the ones in the central area are still largely closed. lou: are you suspicious of the ones we are seeing, a fairly stable rate of cases and rate of deaths and actually an impressive recovery rate? are we looking at something that is less than transparent? >> the united states built the system that's producing these statistics. our own cdc went over to the 1980s. it would be risky and elaborate fraud to try to fake these numbers. my hunch is and what they are afraid of, they tell me they are

most afraid of if they prematurely open up factories and put everybody back to work in the social distancing in the quarantines, there could be relapses. there could be people who have it again or people exposed for the first time drive the numbers back up. they wanted president trump to come over and visit them, but they postponed that, i think. the other thought i have as you were explaining the rationalization. sometimes rationalization is object if yorationalization iso. >> they are holding back important information. every now and then they cop out with a study how those over 80 are being hit 50% in fatality.

they want to present to the world that they know the most about it. lou: we should call it the wuhan virus so they get full credit for their contribution to public health. why do you think we are seeing such reluctance on the part of the world health organization to call this a pandemic. why was there such a an strader ordinary haste to call it covid-19? was this an accommodation of the chinese. >> the united nations specialized agencies are largely under the control or heavy influence of the chinese. i would say there is three or for you that are definitely under chinese control.

they just tried nab the world intellectual property organization. elect the chinese as their leader. we beat them on that, an aggressive american ambassador in geneva organized an effort to stop that. the w.h.o. is lost in terms of their chinese attitude. they can't stay enough possible stiff about china when it's not justified. lou: the president maintaining the tariffs against the chinese shows no signs of softening. >> i think a lot of the friends of china inside our government have been activated by the chinese as a humanitarian gesture. please play lay off on some of -- please lay off on some of these things. but i don't think the president will do it.

the china 2025 program. lou: have we seen any sign they are pulling back in their theft of our intellectual property? >> no, i don't think so. we are waiting for a company to file a case in the system that has been set up.

lou: former reagan white house

political director, ed rollins. also fox business political analyst. pulitzer prize winning columnist, michael goodwin. both are great americans. i say it more often. let me turn first to the race tomorrow. bernie was supposed to breakthrough in michigan to stop biden. biden in the most recent poll is up 25%. is this thing over? >> it feels like it. the polls show her running away with it so she loafed around. he worked hard and pulled off a surprise victory. but it's hard to see a surprise this time around. lou: 352 delegates up in all the races tomorrow.

who do you think will prevail across most of those? >> i think biden will. hillary lost michigan by 1 point last time around. i think the governor has endorsed biden. biden is the flavor of the year for democrats. he's their place holder. with the exception of possibly idaho, i think everything else, washington, the caucus last year, mississippi is a black state, a bigger black population than south carolina. i think it will be a good day for biden. lou: this could be it driving forward. >> it's hard to see how bernie catches up. lou: does any part of you hope there is a big surprise and

bernie breaks through? >> yes, i think biden remains untested in so many ways. if there aren't going to be real debates in the primary system -- lou: there will be a real debate but they made it so joe biden wouldn't have to stand up for the whole debate. >> or bernie. lou: all of a sudden biden can't stand up for a two-hour debate. >> he wants the president to be quiet. the president is making too much noise related to the virus. it's and msnbc taped earlier. people are wanting biden to be quiet for 40 years and they want him to be quiet the next 235 days until the election.

lou: he makes disastrous remarks day after day, time after time. is it there strategy to hide him? >> the more you see hip, he does make you nervous. you kind of wonder what's going to come. over the weekend he said we have to re-elect president trump. he could not get through simple sentences. lou: maybe he's saying what he really means. >> he also said last week he had a big day on super thursday. >> he's not what he once was. the thing that bothers me is the mainstream media is saying you can't go after hip. he's a decent man. we are going to go after him big time because there are a lot of

things he and his family have done and he has done that are part of the record. lou: one of the most atrocious things he has done is to pretend to be all right. he's not well. his time is obviously past. and no one wants to say those words. is this -- and i have to ask, is this a stratagem to move him forward in the months ahead? and it becomes too much for even the democrats to take? and they pivot to a chosen one in the background? >> i think if they end up doing that hillary clinton would be one of those who would be an option. you think of all the others who have dropped out this year. they have no real backup plan at this point. lou: do you think it might well be their thinking? >> i think it wouldn't be their first choice. but i agree with you. you cannot manage him being

president this way. he won't get better six months from now, a year from now, two years from now. what kind of president would he be. >> i think the speaker is playing for divine intervention to get hip through this process. lou: we are impressed. ed rollins and michael goodwin. we appreciate it. one company says they have a vaccine ready for the coronavirus. one small change might accelerate their production. we'll take that up and more right after this quick break. ♪ it's surprising how the bigger a city gets... the smaller it starts to feel. which makes it even more surprising, how big it feels in here. with sliding rear seats...

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lou: a texas-based genetic engineering company graphics says it has a vaccine for the coronavirus and will soon be testing in animals. the chief executive officer says the vaccine could be ready about it end of the year. >> yesterday was the first time i heard people say it's a pandemic. if it's truly a pandemic you can

pretty much do whatever want. the process is four weeks for the first animal testing then it goes into human trials. that's the part that will be determined by the government. lou: determined by the government. joining us, dr. oz, great to have you with us. there you heard the ceo say with the designation -- i have been asking this question of everyone. whether it's alex azar, hhs, dr. fauci, are whoever. why not make it a pandemic? >> i think it got caught within internal nomenclature in the w.h.o. i'm not concerned about a

pandemic or epidemic. the virus was always with us. mers, they died out. this virus is not man made based on the studies i have seen. but this came about where it has just the right amount of virulence. viruses that kill you kill themselves. the u.s. government is pushing as hard as they can. the worry is we'll rush a vaccine out, give it to a few hundred any people. you can affect the fetus in a pregnant woman. you can hasten the death in some people with chronic illnesses. i just saw some of the data from korea. it's a much lower incidence death. if i have a population that's

not dying any more quickly than the flu virus. why would i move it along faster than a year which is a reasonable expectation. lou: dr. fauci saying clearly, dr. anthony fauci at n.i.h., the head of the infectious diseases program. he says he expects a year to a year and a half. others are saying we have aready to go vaccine. the vaccination ready to go, the p. hch -- the w.h.o. designation makes it possible to expedite. you know one of the great political issues will be when we are looking back on what was decided they will be asking did we do everything we can as

quickly as we can if we have god forbid a huge number of fatalities? >> i saw the doctor on fox news saying do we have enough hospital beds and ventilators? lou: do you think we do? >> no. lou: they are not dealing with a problem if they are not solving the problem. >> long term you want to make sure the vaccine is effective. here is my argument. it's hard not to panic. our arguments ought to be we are a can-do population. we mobilize we get things done. give us our marching orders. one sheet on your desk, a

one-sheet primer on things to do. lou: this sheet is up @loudobbs on twitter and available to you. and it will be on instagram and facebook. >> do those things while the american public is doing what they can to be a firewall for the virus including social distancing. a bunch of companies are offering vaccines. i know a few that have promising data and they will move into animal trials. i don't think a change in nomenclature is a game change. lou: that issue is very much alive for the first time. it's the only thing that explains to me rationally and effectively why there would be such an institutional reticence to use the designation. this is not a game.

this is not a place for of the c. nonsense. a pandemic is what this is. in language you are talking about, with we are dealing with adults. america is not a nation of butter cups and daffodils. we are used to being treated with respect as citizens and as adults, and we expect our government to do the same. the cruise ships, dr. fauci said no crews. end the cruise thing -- dr. fauci said no cruises. >> age is important. but whether you have a chronic illness is even more important. if you have chronic lung issues. don't go to the subway rush hour if you don't have to. don't go to big ball games.

but i don't want the rest of the u.s. population shutting down. lou: as i said, on twitter @loudobbs. stay with us.

lou: in our poll friday we asked the question if you think the radical dimms will ever give up

their pursuit of donald trump and 97% said no. i couldn't agree more. good night from new york. lauren: it is 5:00 a.m. here are your top stories at this hour. a much different picture this morning, futures looking to rebound after president trump proposes a payroll tax cut. the president meeting with congressional leaders today to discuss what can be done to help the economy in the wake of the coronavirus. cheryl: the polls are about to open in six states as bernie sanders and joe biden go head to head. all eyes will be on delegate-rich michigan. could the democratic nominee be confirmed tonight. lauren: as the coronavirus is forcing some americans to work from home, there's a an etiquete to it all. we have the rules and the social media reaction to them. it's tuesday, march 10th. "fbn: a.m." starts right now.