sporting events, jared max, a crazy hour. melissa: and another crazy day in the market. down 1464. that does it for us. connell: "bulls and bears" starts right now. david: fox business alert, it is the end of an era for do you, closing in bear market territory today for first time in 11 years, down 20% from recent record highs, s&p 500 and nasdaq barely avoiding this fake. but just barely, all of major averages are down at or near 5% today. >> number one priority is health of the people of our country. and so we'll be making most likely a statement, i'll make a statement later tonight as to what i've decided to do. david: president making oval office address tonight, 9 p.m.

eastern. this after meeting with nation's top banking executives today, we have a live report from the white house for. a suburb of new york city, now first containment area in the country. national guard has been called in, coming up mayor of new rochelle will tell us what life is like there amid the lockdown, this is "bulls and bears," glad you could join us, i am david asman, joining me today steve moore, deirdre bolton, liz peek and robert wolf. we head straight ta to blake berman. reporter: 9:00 from oval office we will hear from president trump, as i left the cabinet room, i asked president whether it would be a response on economic or health front, president said it would be both, we will hear from the president as to what next steps he will take going forward. the president making that news as he met with the bankers the ceos of 7 largest banks froms

country this afternoon. the ceos, message from them, there will be continued rough times ahead, as it relates to their banks they for a good position with liquidity and lending, there are questions about what relief might come from airline. the cruise lines and hotel industries, i asked president trump if he believes those three industries are too big to fail, this is his -- response. >> i think they will be great, i think that folks around this table are the ones that finance them, they understand, they are great companies. but we're having to fix a problem that 4 weeks ago no one thought would be a problem, no one -- you read about them. you read about them from "1917" and from a lot of other times, but nobody thought we would be seeing it we were just discussing this, it came out of nowhere. tonight, 9:00, we see if

president puts forth details stim luce measures. >> i asked president if we could go around room and ask ceos who they think that stimulus should look like, seated next to president bank of america brian moynihan. >> first thing, fiscal stimulus in time of stress is the right answer, anything gets out to most people, so keeping people who are -- under. employed due to this. we think is key. the second thing take care of healthcare problem. reporter: potential response going forward, treasury secretary, steve mnuchin, today, embracing the idea of potentially moving back the tax filing deadline, it is april 15 that could potentia potentiallyd back.

david: administration could do that without asking congress. >> there are some things they could do and, some things they need help with on capitol hill like payroll tax cut, but as far as deadline for taxes i believe that is one. david: thank you very much blake. a variety of responses to president's actions and comments by democrats, while senate minority leader chuck schumer is slamming the president's handling of the outbreak, california governor gavin newsom is braise -- praising him. >> we're very worried about the president's incompetence and lack of focus on fighting the spread of coronavirus. >> we had along conversation, and every single thing he said, they followed through oi am jot interested in fighting daylight on those statements, because, every single thing his administration and starts at the top, including vice president, has been consistent. david: with americans desperate for an alliance of leadership to

fight the virus, will governor gavin newsom's approach gain more traction than sense shore -- senator schumer. >> i would hope so, and shame on senator schumer against for politicizing this events, let us hope that president comes forward with a package of stimulus effort that will help individuals and companies that are hurt, and give us a sense they are in control, they know what they can be doing about the virus. this is a short-term phenomenon. as it has proved to be in some sense in south korea and in china. >> so, i was one of those executives called from bush 43 and obama when i was running ubs, this is very different, this not a situation where banks are in trouble. there is not a liquidity issue, no leveraging in the system. we have now is we need i think to liz's point, a media

stimulus, i think we should have an immediate package, i am not for a payroll tax cut, i think that dribbles out. we won't get 12 1/2%. we have to help the industries that are hurt. okay, like airlines, tram traved leisure. david: how. >> with 10% lines, and extending their credit when they need it help them with unemployment deductible, and r&d change it. there are tons, but we have to did it now, stimulus has to be immediate, we can always add to it, unfortunately here we pick winners and losers. >> deirdre -- >> you know -- >> on the coronavirus that is because of russia and china. >> with energy companies -- i would under line robert's point in a sense some of the shale

producers, that's only place where i see with a smal smaller perspective than roberts, but all of the banks have loaned likes of diamond back and hal burhalhalliburton when we saw cn about oil price monday, number one dropping segment was energy, number two was banks. >> i am really nervous about this idea many of you talk abo about. about helping the industries, where does this stop. you have you know, the energy companies, then airlines, then cruise ships, then what about restaurants? and banks? i just don't know where it ends, i think that is the wrong approach, i think -- hope david tonight when donald trump gives his address, this is long overdue, i think she should

basic -- he should call out nancy pelosi say i want a suspension of payroll tax, i want it now, get me that bill in 48 hours, i am worried about spending programs that are not going to work, trump should put oh, us in o -- onus on pelosi, . >> you and i have chatted about this i respectfully disagree. i think that whole heartly the wrong approach, i don't think that payroll tax makes a difference right now. >> it dribbles out, if 2% that is not money that changes habit, i don't think that fed lowering rates mace a difference, i think we pick winners and loser. we did two farm bailouts that were larger than auto bailout. >> we shouldn't do that. >> i am not saying to hand money, but making sure we do -- on paid leave, we extent

unemployment, but also we can change lending. >> i am wondering whether any of these measures would have as much impact as president coming out tonight as george bush did saying people it's okay, if you are under the age of 60, go out to dinner go shopping, ul no yol the not be critically hurt by this virus, there is a lot of places in country where the virus is not every dent --ive dent, they are safe, their kids are safe, not a single child has died from this in the world. very few are severely ill, go to the park. at some point at this time, we need a cheerleader in chief, i know that sounds idiotic, but that would help calm people, and calm the nation. which we need. >> we do need it, but i think where people's hesitation, i was talking with traders, on floor of new york stock exchange, are we more like south korea or

italy, you see i italy, the complete country shut town. people are -- >> then south korea. >> i think this deirdre is spot on, south korea did 150,000 tests, at same point we did 1500, we knew about this at the same time. >> their numbers are coming down, they are or it. >> they did what dr. fauci said we have to do, they blat flatted then decrease. >> it will happen here, but someone has to tell americans that will happen here, we have to have broader testing. david: do you think 1 we -- once we gets testing in place, that things -- market will calm down and we'll regret if you do stimulus spending right now, we'll regret having done that 1234.

1234? >> i guess i am in camp, i have changed my mind a bit over last week, looking at what is happening in other country, it is better for trump in my opinion to over react to this than under. you know this say seminol moment for his presidency, he has to became monder in -- the commander in chief, and instill confidence in people tonight. >> he does. >> no matter what di stimulus ty give, if a thousand people die the next day, i feel it would not be as effective. david: we agree this speech is going to be critical. and let's wish the president the very best, 9 p.m. this evening. >> we have a fox business alert for college basketball fans, coronavirus outbreak is bringing big change to march madness, you knew this was coming in. ncaa now saying that college basketball tournament will be played out fans in the audience. only official staff and limited

family members will be allowed. games will go on, but there will not be an audience. >> meanwhile, wasn't bernie watchings returns? a huge night for joe biden, is he moving closer to securing domecrattic nomination. socialist, bernie sanders doubling down on his fight. >> poll after poll, including exit polls, show that a strong majority of the american people support our progressive agenda. ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on

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david: bernie is down but not out, democrat senators calling for bernie to drop out. but sanders, signaling he is not going anywhere. >> in order to win in the future, you need to win the voters. who represent the future of our country and you must speak to the issues of concern to them. let me conclude the way i began. donald trump must be defeated. and i will do everything in my power to make that happen. >> robert, what is bernie thinking?

>> i think a few, he had a brute brutal night, because hillary beat him in missouri by nothing, he got smoked there and worse in michigan. bernie's nomination you know is now doa, it over, that said, he wants to have to one debate with biden, because i think he wants to make sure his voice is heard, and he will make sure that biden makes sure that his people are heard from. and so i think it makes sense, what he wants but i don't think he will be in -- >> you think that debate is his swan song? >> he may stay in following week but he will lose florida and ohio big. i'm not one that is asking him to leave he has a right to stay. >> there have been so many twists and turns in this race, he may be dead, but not completely deed dead. >> we said 3 weeks ago that joe biden was dead, he has right to

stay in the race, the debate next week is his do-or-die debate, if he performs well he could rallial come back go bernie. >> i think he may be hoping that biden does not do well. there is a lot of talk about biden's mental capacity. and yesterday we had trending twitter all debuted en's cognitive de-- biden's cog cogne decline. >> luk looking at results from michigan, perhaps last primary were really anti-hillary clinton votes. >> bernie and biden are not hillary and bernie, they get

along okay. and elizabeth warren's people last night votes for biden. it is different. david: you know deef longer that bernie is in the race. the more biden will be pushed to the left or he will not be able to pivot to center until bernie is out. >> that possible, but i think there will be a little bit buyers remorse. biden has a lot of problems, as a national candidate, i know robert wolf is shaking his head. but i think trump stacks up well against biden, he is not that inspiring. i think that democrats may say, what have we fallen into. >> i think if you follow twitter, i do too much i admit, there is a lot of people speculating that democratic establishment did just -- axe

bernie sanders, there is still concern among bernie followers their man has not gotten a fair deal. >> like in 2016. >> right. >> i am wondering if he is holding out for some influence in party platform in the convention. >> i was thinking that. >> we could see bernie at the convention. i just think that bernie and biden's relationship, i am telling you is different, this not 2016. david: what would bernie like to have in platform that biden by himself would not put in. >> not getting medicare for all or -- >> that is the big one. >> or the green new deal. >> although. >> maybe minimum wage. >> robert if you read environmental position on biden's web site. david: 1.7 trillion. >> really close. >> it is not i tell you why. >> he embraces that has a

framework. >> i know but green new deal has two things that biden does not guaranteed healthcare and guaranteed employment. >> that would put every oil and gas worker in this country out of a job. >> my guess is we have all in energy approach, oil, gas, and renewable, we'll have like 7 months to debate this, happy to start now. but i have a filing i'll get the hook soon. david: the big question, what do you say to the oil and gas workers? the convention has to decide this already, vice president biden has been pulling back from suggestions we should get rid of carbon energy entirely by 2050, but he has to speak to the workers in the industry, isn't he. >> yeah, i think it is a problem that green wing of dem cret

couldemocraticpairlt party is really boxed. he has -- >-->> it was. >> are -- you look at tape. >> he didn't get asked would you put 100 thousand people out of work. >> he did say we could replace oil and gas job with 50 dollar an hour job. >> i'm not looking to argue, but we could recreate what every politician says in a primary season, both sides would say not happening. >> it would be fun. david: fair enough. we'll do that it will be fun. >> meanwhile new york city suburb, first coronavirus containment area in the nation. governor cul calling in national guard, we speak with the mayor of new rochelle about situation on ground in his hometown. next. >> there are many people before the outbreak here who really took this lightly, and said, no

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david: coronavirus now responsible for 30 confirmed deaths in united states, world health organization declaring outbreak a worldwide pandemic. new york state taking extreme measures to stem the spread in one of its hardest hit areas, new rochelle, a suburb of manhattan, governor announcing a one mile containment zone. national guard called in to help clean public places and deliver food, here is the mayor of new rochelle noam bramson, thank you for being here. appreciate it, as it happens, i have family in new rochelle, my nephew lives in the zone. i know this is not a quarantined area yet. he and other people in the zone

are worried it will become that, should he be worried about that? will it become a quarantine area? >> we have no reason to expect that, let's be clear about what a containment zone it, this is an area where large gathers are prohibited within large institution. but it is not a prohibition on people entering or exiting, it does not have an impact on individual residents or businesses, not a exclusion or quarantine zone, we have been given no indication from state officials that those additional measures are under come -- cont. >> -- it dramatic enough. >> all we can do is take direction from public health

professionals. so measures in place in new rochelle were developed by commissioner of health, who advised governor, we have been collaborating with state and. it is our job to make sure we work with the state hand in glove. >> mayor -- have your medical institutions there, found that subflies are adequate, they have enough medicines, and masks, all those things that people are afraid will be running out at some point, have you found that tests are available easily. >> they, two different questions, with respect to headlights and medical providers, i am in regular touch with our local hospital. they told me that they are ready for whatever may come their way, we're grateful for their preparedness, with respect to testing there is a nationwide

constrain. the good news in new rochelle, state has directed additional resources to our community, with additional testing capacity arriving, and we have been able to up the volume and pace of testing, we know that a lot more testing really needs to be done, you can manage what -- you can't manage when what you can't measure, testing has been obstacle. >> noam, this robert wolf, thank you, we'r we're look lucky to he you as a west chester residence running that town and city. my question, how are citizens feeling, what are questions they are asking, what seem to be concerns. >> well i have to say i'm proud of the people of new rochelle, i think most people have demonstrated a level of concern, and focus that is proportionate

to challenge, concern about own he'll -- health, family, and neighbors. people under quarantine this a disruption, a lot of people whose kids are out of school, they have to deal with child care and other issues, yet none has stlaistrays to panic or hys, people take guidance from public health professionals and supporting their neighbors, and saying informed and demonstrating this a strong and resilresilient city. >> one follow-up, media made new rochelle almost like a boogeyman. has that been a good thing or been a not a good thing? >> i missed word you applied -- >> a bogey man, you know, it is like just right there in your face, almost, i think they don't understand what containment

means versus quarantine, they are not able to listen to you to understand it. but, how do you feel media has been handling it? >> well, i think it has machine -- been mixed, always case with media. to be fair some have portrayed is accurately and others that have less concern with sticking to the facts and have been sensationalists, best thing we can do get truth out in a way this is timely, accurate and reflective what is happening to the ground. david: steve. >> just, quick. i am sure people watching this show are wondering is this coming to my town. and i not clear about why new rochelle is being -- in this containment center. when you said that public gathers would be discouraged that means restaurants closed in movie theaters and schools? what do you talk about in terms

of the public gatherings? >> so, first, reasons why this is applied in new rochelle, we happen to have highest incidents coronavirus. >> how many. >> in state. about 100. reason i am -- it changes. but about a hundred, almost all if not all trace back to a single index patient with a great number of relationships within the community it makes sense because of the numbers to devote additional attempttion to new rochelle, in terms of exclusion zone, restaurants are open, businesses are open, but it does impact schools, public and private and parochial, and housing ohouses of worship, couy clubs, the institutions that have large gatherings. >> impact -- impact, you mean, they are closing down? >> yes.

yes. >> okay. >> certainly in case of schools they are closing. houses of worship not having mass services, i don't to minimize that, that is significant affect on our lives. but it not a lockdown. and it is easy when you hear a term like containment zone to misunderstand what that means, when we see happening in italy and china and assume that is happening here, this is not the case in new rochelle. david: mr. mayor, you mentioned patient number one. we will not mention, the name is out, we understood he was in a coma, do you have any update on his condition? >> i do not have any information about his condition beyond what has been stated in the media. i will say, that the community of young israel in new rochelle, has been extraordinary throughout this responsible, public spirited. and we should remember that the

index patient, is a victim in this, we should wish him good health, speedy and full recovery, he i he is in no way responsible for what has occurred. time to be compassionate. >> thank you so much mayor, we wish you the guest. >> thank you. david: we have a fox business alert, italy prime minister announcing all stores, except pharmacies and food markets will be closed in response to the coronavirus outbreak over there. prime minister also reporting tougher lockdown revisiontion -- redirectiorestriction in place l afternoomarch25. >> president to make remarks tonight on new actions to help cacountry combat coronavirus, lawmakers on capitol hill, preparing their response, what will the plan include?

will it get bipartisan support? we ask a member of house, ways and means committee -- >> i think that payroll tax would be great, it would be something that would be good for the citizens for the people. (woman) no matter what business you are in, digital transformation never stops.

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>> that sentence that was just handed down by the court was obscene. the number was obnoxious, it is not to speak to evidence or justice. david: harvey weinstein's legal team slamming the disgraced movie mogul 23 year prison sentence. he was convicted of third degree rain, and a criminal sex act last month.

>> let's bring in former federal prosecutor doug byrne was it fair. >> i thought it was high quiteon honestly, i spoke with my colleagues, we fell it would be about 10 or 20 year, i can't read the judge's mind, but i think he may have looked at overall 20 years to get to this point. i don't think it is unreasonable to say from this stain point, judge fell it was a long time in coming. >> he will face charges in l.a. >> that is very interesting, i tell you why, because the judge also again reading his mind, might have felt if he gives him 23, maybe l.a. might say, we don't need to try the case now. and i'll give you another crystal ball, he may take a play -- understanding he gets concurrent time. >> is there grounds for appeal?

>> absolutely, appealing sentence its rare, but they could appeal it on ground it was excessive. that would be the argument, not the greatest, but point is, average defendant hear is a hera chart, and averaging it out, but the witnesses. charged with two victims but judge allowed four others, who he was not charged with and some of them outside of statute of limitations. but he is the killer for the defense, when you have a split verdict, you get killed. as a defense lawyer, on appeal they say jury consciously sorted it out and found him not guilty on two counts that involved back up. >> not app emotional response. >> no, yeah, and point, the notion they were prejudice by the witnesses is deflated. >> well, you know for someone in

his statement of life, and -- stage of life and his health, this is a life sentence. i wonder in those circumstances, what happens when someone is failing in their health, do they serve their whole term? >> very good question, steve. because there is a lot of misunderstanding. people say he will just do a few years, you have to do 85% of the sentence. >> wow. >> only credit you get is 15% for good time, that is -- i crunch that a little bit. 19 1/2 years. so, you know, there will be medical questions and medical issues. correction facilities have medical treatment. david: he will not get out before he is about 80. >> no he will be quite advanced. in day-to-day case, los angeles might go forward. david: doug byrnes thank you. >> we're geeing to issue of virus here, house of representatives prepared to vote on their own coronavirus

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david: as we wait an announcement tonight from president on new actions to bat the coronavirus, house has been trying to hand out an emergency economic stimulus package of its own, speaker nancy pelosi speaking in closed-doors right now, joining us now, congressman mike kelly, a member of house, ways and means committee and a businessman. understands how business works in america. not that common inside of beltway, what are biggest deferences between the republican plans to stimulate the economy and democrat plans? >> you know, david, i am not sure what the differences are, i have not heard democrat plans, our main concern is for every day working people, middle income people, lower income people, making sure they are safe. i am a small businessman, most vulnerable are small business

communities and those people who work there, we want to make sure we're making their lives more simpler in a difficult time, it will be a political battle but it should never be about politics, in this case should be about policy that helps every day working americans get through a difficult time period. >> congressman we're getting reports on background about what this package might include, i am hearing things like, you know free treatment centers, food and nutrition for college students and maybe other things like that of people who are affected. i don't regard that as a stimulus, those may be fine and well in good of helping those who contracted the virus or. but, the economy may need a lift, and i just hope you are not going to leave that aside, that has to be done quickly economy looks like it is in trouble, what are your thoughts. >> well, i think we'll in best economy we have been in, been a

blew -- blue collar boom, my thoughts on that, you have talked about, i am not interested in, that maybe small loans to helpingses at very low rate or now rate, we have done that before, they get paid back, the businesses stay open, they keep people who work at those businesses safe, i will tell you, i think larry kudlow said it, you will never see a bolle - boulder plan put forward by president trump, his first commitment is make sure that america stays strong. >> congressman, small businesses, do seem to be vulnerable, but big businesses seem that way too. we have airlines in trouble, i'll industry under a lot of pressure, what do you think house might do for those industries that are facing hard times. >> yeah, you know, i don't think we have seen oil this low for a

long time, i will say, i don't care which sizes business is, i operate a small business, like at a small business from my come pet ors bigger. -- competes ors a little bit bigger, our main be on checktive t-- make surethey feel good abop every day, coming to work. if we can't look at our fellow americans and say we're with you on this, this a tough time, and government will help you, in a way that they have to be, we have to be that safety net at the end of the day, other thing, we can't be economically irresponsible, keeping economy strong and vibe a vibrants is tl of this president, protecting america has been our goal. we'll look at all different stip plustimulus out there and move n the rights direction.

including those getting benefits. >> congressman, i am sorry, i am confused by your response. >> don't be. >> president, talking bold, talking about ending payroll tax for a period of time. >> right. >> 12 1/2% that would add 1.2 trillion to deficit, but you said that we should actually look at helping what you sale workers, and -- what you said workers and small business loans are you for ending payroll tax. >> no, no. i said i'm looking for everything that is available, we could borrow money at half percent to fund some of the activities, i am not saying i want us to go deeper in debt. >> i want to be clear -- a bold plan but that the no bold. >> i have not seen the entire plan, i am willing to look at everything, i have been through many times in my own life, only time you get through on both knees and praying you can get 3 through it and looking for help.

i don't know you are with me. >> i am with you, i don't think a payroll tax of trave -- 12 has in. >> >> i think -- i would agree. i think that is on the table, i know that, if there is another way i would rather look at that aranother way. let's keep in on table and act in best interest of american workers. >> in your mind, the best initiative that could happen what is it? what? >> the best case scenario, best choice what would it be. >> i am not good at hypothetical, i want to look at a plan that not reckless, and will get us through the difficult period, we don't know much about coronavirus, but i wowrg rather look at something to do now than later on. i wish we had done something whether we knew about it, instead of waiting until.

>> congressman, a couple seconds, oil is a big topic in saudis and russians trying to kill u.s. shale companies is reprehensible, i now th thoughtd contact with saudis can we get them to stop flooding market with oil. >> i don't think there is anything, we learned that, they will act in their best interest, we need to act in ours, i get tired of going around the world protecting all these folks and having them turn their back on the people who protect them. >> i hear you. >> i am fed up with that? we are all, thank you, congressman mike kelly. >> thank you. >> best of luck. >> thank you. david: can't stop touching tour face amid all coronavirus concerns? you north alone, what a tech company is now selling to keep your hands as far away in your face as possible, next. >> i haven't touched my face in

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speaking with me earlier today about their new device to help prevent the spread of coronavirus. their tech company, slightly robot, releasing a new electric wristband that vibrates when users put their hand anywhere near their face. the entrepreneurs selling their device at coast. the wristband retails a 50 bucks. would you buy it? >> they don't have a long window to sell this thing, right? i will buy it. i want to stay safe. >> i probablyp wouldn't buy it but i know it exists. david: 50 bucks is not a lot. >> buy a dozen of them. >> i wait until apple has an app. >> it feels a little bit like an electric dog collar. one of my dogs had. if it works it works. david: i don't know if any of you have that habit but members of my family do where they -- >> one thing i have realized i feel like the cartoon itchy and

scratchy. >> we're not supposed to do it i can't stop doing it. david: one of the most contagious viruses ever known to man. something like this, we want to give the entrepreneur as chance to do well. that does it for "bulls & bears," everybody. stay safe. elizabeth: welcome toe the show. i'm elizabeth macdonald. "the evening edit" rights now. the president will address the nation in less than three hours at 9:00 p.m. eastern time from the oval office on the coronavirus outbreak. we're now monitoring if the president will declare a national emergency. tonight we're going to bring you calm rational information from the experts. now that declaration would let the president direct fema to possibly tens of billions of dollars of disaster relief funds for the virus. we're now digging into government contracts now going out. we'll give you that information. we're trying to track what the trump administration is