now, watching what's happening with the dow and also to give you some context. the high for the dow, 19,121. the low 18,213. right now, we are at 18,533. that is all for "making money." thank you for joining us. "the claman countdown" starts right now. cheryl: here we go. i'm cheryl casone in for liz claman in this final hour of trading on this monday. markets are lower this hour as the senate is struggling to pass that $2 trillion coronavirus stimulus bill. the dow is down 641. we are off of session lows. the s&p 500 right now, as you can see, is also in the red and the nasdaq as well is in the red right now. we can see a loss of 72 points on the tech-heavy nasdaq although tech has been kind of a bright spot depending on the session and the day.

s&p is down 76. we are watching all of these markets. a few things are going on right now. investors weren't impressed by the fed's vow to buy an unlimited amount of government debt and give loans to businesses, big and small. there's one industry that coronavirus crisis is impacting directly, restaurants. they are closing their doors to patrons, trying to shift to takeout only. we s ghave got the owner of a gp of restaurants who will tell us, he will say this, the restaurant recession has already started, already in effect. we know folks are out of work but how bad is it? we will find out. there's also sharks in the water, there always are. investors are not just looking for an edge in the selloff but advising businesses in how to survive the crisis. we've got one of the best in this. he's an investor, an entrepreneur, founder of fubu and the star of shark tank, daymond john will join us to give us his perspective in all of this and oh, yeah, we are going to check in on liz claman

as she begins her quarantine in her home out in new jersey. liz is coming up in just a few moments. first let's get to these markets. lot of breaking news has been happening over the last couple hours. first off, gasoline. u.s. gasoline futures ended the session today down 32%. that is the biggest daily percentage drop on record. so gas is cheap. you just can't drive anywhere right now, right. the drop comes as consumer demand for gas has plunged. all of this is around the coronavirus. we are seeing those numbers fall. we will get that to you in a second. goldman sachs, this is big today, this is one of the things that's -- the dow is hanging its hat on. they upgraded boeing this morning. they put a buy rating on boeing. the plane maker is planning a two-week shutdown of factories in the seattle area due to the coronavirus but also remember that boeing has reached out to the u.s. government, they are looking for help from the government like many companies are. boeing is still in play as far

as could they have a deal with the government. that's on washington and the senate. we will get to that later in the show. we also want to talk about macy's. they have suspended earnings and dividends and the same actually with kohl's. they will be closing stores until april 1st. then you have jc penney, they withdrew their earnings outlook. at this point, companies are just saying we don't know. it's okay at this point in time to say you don't know. here's some good news for you. this may not surprise you. cvs are looking to fill, get this, 50,000 jobs to meet demand. dollar general planning to nearly double their normal hiring rate. those stores have been packed. papa john's is hiring 20,000 restaurant team members. we are kind of changing our behavior and obviously, these are companies that are benefiting from that behavior. walmart is raising their minimum wage in their e-commerce warehouses by $2. amazon has doubled overtime pay

for warehouse workers. obviously these are folks behind the scenes that are working so hard to get you your deliveries because everybody is home and want things delivered. walmart making that big move. the markets again, there's walmart. it's in the red just a little but the other stock is not. the markets have been extending these losses. the dow is on pace for its worst monthly loss since september of 1931. of course, a lot of people are continuing to talk about the idea that we are going into a recession. those calls are out there. you never know until you got two quarters of contraction, but you've got morgan stanley saying the u.s. gdp is going to plunge 30% in the second quarter. that would be a 74-year low for gdp. we hope they're wrong. i'm sure they hope they're wrong. yet even with all of this in the middle of this call, the bank's economists believe a repeat of the great depression could be avoided and yes, people are talking about a possible depression. i have heard it myself from analysts i talked to. they are saying we can't avoid

this. that could be a good thing. then you've got goldman sachs. they predicted u.s. gdp would fall by 24% next quarter. now they are saying global gdp will contract by 1% for the year. that's actually, think about it, not a terrible hit to the global gdp story but yes, 24% fall for the second quarter. we don't know these numbers yet. this is all changing day to day. the most drastic call we have seen, though, is coming from st. louis federal reserve president james bullard who is warning that u.s. unemployment could surge 30% next quarter, gdp could possibly plunge 50%. okay. got the bad news out of the way. okay. what are traders and market guys watching? let's bring in our floor show guests. scott redler, one of our regular nyse traders, at home for the first day. joining me, the floor is closed, of course, dan ives is with me. good to have you here.

scott, how's the view now that you aren't on the floor of the new york stock exchange? >> well, i'm actually in the short hills office which i'm the only one allowed here. we closed our new york city office and the nyse obviously, and so i'm here alone, so this way i can provide all the content and pretty much give everyone as much color as i possibly can. so view's a little different but the trading's the same. the volatility is high and at this point, the volatility is not going to decrease. you just talked about so many different predictions, so many different opinions of what is going to happen but that's what those are, opinions, because we are in unprecedented times. so what i like to do as a trader, as a strategic officer, is put out points of reference for everyone depending on their time frame. if you think about just even the last draw-down bear market we had with the financial crisis, that was 57% off the highs. that's what happened back between 2007 to 2009.

it took 13 months. right now the s&p hit 2191 which is about 35% off the highs. so you put it in perspective, yes, we have taken out about two-thirds of the corrective phase off the table so if you do have cash in a long-term plan, this is a spot to put some to work but you have to do it very slowly. because in the 2000 financial crisis, in 2007-09 you could still get on a plane, kids were still in school, you could go to a restaurant and travel. this is totally different. and you have the biological factor. keep the powder dry but do it slowly and over time, you're not going to be perfect with putting flows to work but if you do it slowly and you put it out there, i think 1850 in the s&p is probably the lowest i think we will go but that's my opinion. if you do it slowly and strategically over time you will do very well. cheryl: hold on. we are at 18,500 now.

>> talking about the s&p cash. cheryl: yeah, yeah, yeah. okay. okay. 2237. sorry. i was looking at the wrong board. let's talk about this. i will turn this over to dan. there are some things, people are looking for things to buy. our viewers are smart. they know that there's an opportunity. they know the markets at some point will come back. one of the bright spots seems to have been okay, not bright, but at least not so bad, has been technology. i have noticed when the red has gone upwards, a lot of technology companies led us out and the nasdaq has been kind of an outlier in a good way. >> i can just tell you obviously covering 20 plus years, we have seen a lot of events, nothing like this black swan event, but investors are looking on the other side, six, nine months, into 2021. that's where names like microsoft in terms of cloud, apple and 5g, just put numbers around it, we have gone to a scorched earth model for apple

saying no one buys a phone that's bought a phone over the last three years, over the next two years. even when you look at those numbers, you are buying apple,starting to buy it at these levels so in my opinion in terms of tech and cloud, cybersecurity, you start to dip your toe in. look at the names on the other side of the valley. at this point, i can tell you right now, most investors are basically writing off next three to six months, looking at 2021 numbers. that's the key in terms of a lot of these stocks. cheryl: real quick before i let you go, the question is, is this a v-shaped recovery, a u-shaped recovery? it seems to me when the markets come back, they are going to come back roaring. >> that's why when i look at areas like tech, cloud, enterprise is going from 30% on the cloud to 55% next three years. i view that as a trend that even when you stress test, that's going to continue to happen. i view that as more v-shaped than l-shaped. when you look at areas like

cybersecurity, same thing, in terms of core areas of the enterprise. apple is another one. on the other side of this, consumers are going to upgrade their phones. cheryl: scott, real quick? >> i think what's very important is no one knows the depth so everyone is seeing a v-recovery but from where? whenever you put money to work, make sure you can afford it and map it out and do it slowly. cheryl: yeah. you said that earlier and i think it was a great point. scott, dan, guys, thank you very much. we appreciate it. >> thanks for having me. stay safe. cheryl: whole new version of the floor show. the reason i'm sitting here today is because over the weekend, liz claman was told she has to go under quarantine. she is fine. she's one of the finest, healthiest people i know. this is all out of an abundance of caution. she will be staying home. good news, we are able to take you live to her home in edgewater, new jersey, where i have never been invited to. we are now joined by liz claman, anchor of "the claman countdown." hey, lizzy. liz: hey, cheryl. you have a standing invitation.

i don't want anybody to worry, especially my mom. this is the first time that she's probably seeing that i'm under quarantine. i didn't want to alarm her. i have my own teleprompter here. you see the board there. hi, mom, i'm fine. yeah, we had -- it felt like it was bearing down. there were a couple people who tested positive that had been in close contact with our team so out of the abundance of caution, we are all quarantined for the 14-day amount of time since we last saw these people. that actually puts me just about six days away from coming back on the air. so this way, we are able to do it and i have to just say, i miss you guys. cheryl, you are doing a great job. we are watching so much news right now that has really become the most important final hour of trade and i do just want to let you in on the fact that after midnight on saturday, i was communicating with the white house chief economic adviser larry kudlow, because i was trying to get a vision of how

this rescue package was going to come through that you have been talking about, that edward has been covering, that blake has been covering from the hill. i was communicating with larry kudlow and he told me specifically that he had been on the hill all night long trying to negotiate with all of the senators. he said the talks were going well and he said that the plan, if we thought it would have a senate vote on monday, we see how that's gone so far, a few stumbling blocks, definitely, but specifically said the plan could come to 10% of gdp. cheryl, these numbers are a moving target. hundreds of businesses, not to mention lobbyists, have their hands out now doing the alms for the poor, alms for the poor. you got to be very careful here because you don't want to infuriate small businesses and middle income or lower income people, if they start to see companies getting the bigger checks first, that is not going to be helpful whatsoever. in fact, just late last week, i was watching this closely, as you know the airlines are in

such trouble, delta's ceo ed bastion had said in an employee memo to put this in context. despite self-help measures, delta is currently burning through roughly $50 million in cash per day. you're looking at delta, looking at the corner street guy who is trying to take care of his family at this point. hopefully the senate will get the act together, we will have something and the checks will print sooner rather than later. a lot of small businesses, let me finish with this, are struggling, as you know. in just a few minutes, we have that one-on-one interview in a fox business exclusive with daymond john, founder of fubu, the big fashion empire. he's been through a few near death experiences in business himself. we will bring him back and find out what advice he's giving all the small businesses he's invested in. cheryl: liz claman, great to see your smiling face. we will see you in just a little bit with that one-on-one interview. liz claman. live from edgewater, new jersey. we'll be right back. the dow, we are down at session

lows again. anything could happen in the last hour as liz was telling you, as we go into the close. you never know. stay with us. we will see if the selling picks up. covid-19 has put the medical world into overdrive. gilead forced to limit emergency access to its antiviral drug, remdesivir, as demand surges due to this outbreak. then eli lily is halting enrollment in all medical trials to keep from wasting supplies. doctors need to focus on fighting this deadly disease. shares of both those companies are falling in today's selloff, as you can see. red arrows on your screen. now, this virus has forced eateries across the globe to go on lockdown but coming up next, we will talk to restaurant guru cameron mitchell on the pandemic survival plan. he's cooking it up for his dining empire. "the claman countdown" will be right back. sure, principal is a financial company.

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cheryl: we are getting breaking news into fox business. there are several reports out there that the tokyo olympic games, the 2020 summer games, are going to be postponed. this is a direct quote from a member of the international olympic committee, speaking to "usa today ". again, there are several reports out there now. we are working to confirm that the 2020 olympics in tokyo will

be postponed and remember, canada and australia had already said they would not be participating and a lot of athletes around the world, including several american athletes, have said they don't want to participate and take the risk right now. we will keep you updated as we get more details on what's going on with the olympics. some other news that's broken recently. the cheesecake factory are temporarily closing 27 of their concept restaurants. you have mcdonald's shutting uk and ireland stores at least for now. there's one glimmer of hope. i got to bring this to you. yum china is getting back on track. they are starting to reopen about 95% of their properties in china as the coronavirus has come under control there. let's bring in cameron mitchell. you've got 37 restaurants in 12 states, you've got one here in new york. welcome to the show, sir. >> thank you, cheryl. a pleasure to be here. cheryl: this must be really tough times for you and your employees. what has it been like with all

these shutdowns? >> it's been horrible. we have 4500 employees, some of which i worked with for 15, 20, 25 years. in three weeks ago, our business was in great shape. i was meeting with the bank talking about our future, et cetera, then three weeks later, we are completely shut down. it's been a horrific situation and i would like to say there's no contingency plan for the unimaginable. cheryl: how was business going into this? we had the markets hitting records a month ago. now here we are. how was it for you? >> yeah, same thing with us. we were up over 7%, same store sales, which you know is terrific. we had the best start of our year, our most profitable start of the year we have ever had. we were excited. we had big plans, lots of growth opportunities and were excited for our business and our people, and then it just dropped off a cliff. cheryl: you know, it's interesting because there's so much unknown but the biggest

unknown has to be for the restaurant industry. delivery and takeout is still an option in states like new york and california, where we are shut down, but how bad do you think this is going to get? what's your outlook? >> well, the same thing. we tried, you know, our full service restaurants are not really geared for takeout and delivery. i use the analogy it's like putting a band-aid on a jugular vein. it doesn't really help much. plus we wanted to keep our people home and safe with their families and try not to -- try to hinder the spread of the coronavirus. getting started again is really, you know, we are kind of shut down now, it is what it is, and we have got an associate relief plan in place to help our people. we are trying to raise $1 million to help them put some food on the table for them. we've got our health benefits taken care of at least through may or april, i think through may now. so we are waiting to hear what the government stimulus package is going to be, what help we can get there and start working on

our reopen plan. the problem is we don't know how far and deep this is going to get. so what it's really going to take. each restaurant to reopen from a standstill of 30 or 60 or 90 days is going to take tens and tens of thousands of dollars or more, well over $100,000 to open. we are going to require significant amount of capital to get back up and running at some point. cheryl: hopefully that reopening can be just as quick as it happened when you got shut down. i know this has been a difficult, difficult time for you and everyone in the industry. all i can say is if anybody goes, they get delivery, go pick up the food, tip. just tip the people that are there. they are working so hard. cameron mitchell, thank you very much. keep us posted. >> will do. thank you. cheryl: thank you. cameron mitchell restaurants owner. let's ch ebbieck the big board. we are pushing session lows. the low was 18,213. we are not there yet. i'm hopeful. all right. dow down 801 right now. the cast the "stranger things"

not the only ones getting caught up in the upside down these days but netflix stock looking pretty good today. barron's upgraded the stock, saying staying home will boost demand for the original binge-watching service as the chief content officer says despite disruptions there will be no shortage in movies to watch over the next few months. netflix up over 7.5%. there are some bright spots. we are looking for them for you. we also have a lot more coming up. the senate bailout battle has gotten ugly. have you seen this? we will go straight to capitol hill next on "the claman countdown." ♪

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cheryl: you are looking right now live at the senate floor. senators are, well, doing a lot of talking and yelling right now. they are struggling at this point to pass another round of

coronavirus stimulus. a republican-backed trillion dollar plus package would include relief checks for americans, increased unemployment insurance and a way for the federal reserve to make loans to companies that are hurting from this virus. hillary vaughn is on the hill and i know you have been monitoring all the goings-on on the floor this afternoon. it seems that in this big rush to push something through the democrats are -- and even some republicans are saying look, we don't want to see this thing turned into a mess but they are fighting this afternoon. what's going on? reporter: yeah, tensions very high on the senate floor and even some members that left the floor from this morning said they're embarrassed quite frankly by a lot of the exchanges that happened because tempers were flared after the vote again failed to open debate on this phase three bill that would give economic relief to small businesses and millions of americans. at the same time that that vote failed, speaker nancy pelosi was on the other side of capitol hill returning from her week

away to washington and she decided to rule out her own bill that she says would make a lot of changes but also give relief to people as well. she thinks it's better than the senate plan. this move put a wrench in what republicans and democrats in the senate spent the entire weekend working on, trying to get a lifeline of cash to americans who need it. >> absolutely mindless obstruction going on on the other side while the public is waiting for us to act, while people are losing their jobs, losing their income and shutting down the economy which we've had to do to deal with this public health crisis. they are fiddling around with senate procedure. reporter: at the very moment mcconnell was saying that, speaker pelosi was on the house side rolling out her own bill. >> the senate republican bill put corporations first but because of the insistence of leader chuck schumer and senate democrats, progress has been made. we urge the senate to move

closer to the values and to take responsibility for workers and families act. reporter: this morning, mitch mcconnell pointed at pelosi as the problem for why progress was derailed. there's also a wish list out there of a lot of demands that have nothing to do with coronavirus that is also stalling this process. cheryl? cheryl: it's a long list of demands and kind of the green new deal, really? we are going back to that? fascinating. hillary vaughn, thank you very much. keep us posted on that vote. let's take a look at the markets right now. you've got the dow actually in the red. we are down 815. the low was 960. trying not to push down to that session low again. here's the s&p, down 95. the nasdaq down 121. i just have to say, technology, look at the nasdaq, down about 1.75% where you have the dow and s&p down more than 4%. just saying. we talked about this earlier. technology has been interesting. all right.

the sparkle going for signet jewelers, parent company of kay jewelers and zale and jared and other stores, sinking after the company announced it is temporarily closing all of its stores in north america due to the pandemic. they say employees are going to get paid and get benefits through april 4th. that stock right now down 25%, almost 26%. coming up next, entrepreneur investor, fubu founder, "shark tank" all-star daymond john will join us in how he's advising his companies to avoid the coronavirus waves that are swamping the business world. in the transportation industry without knowing firsthandness the unique challenges in that sector? coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. that's why i go beyond the numbers.

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cheryl: the closing bell is going to ring 25 minutes from now. taking a look at the markets, the dow is pushing session lows but not there right now. the session low was down 960.

we are down 877, the s&p is down 103, the nasdaq, little bit of a drop. down more than 2% on the nasdaq. down 149 points, obviously markets not really reacting in a positive light to the stimulus that the federal reserve threw out into the market. more qe, unlimited qe. we are tracking the markets as we go towards the close. small businesses, they are desperate for a lifeline as they flail in uncharted market waters. want to go back to liz claman live at home because liz, that's the thing. small businesses are just frightened, frightened and i know you are quarantined but you've got an amazing interview. i will send it to you right now. liz: yeah. you know, we are workaholics. we just can't stop working. i was able to m couko come up w somebody a lot of our viewers are dying to listen to. my next guest started a business in a basement in queens with $40

and his mom's sewing machine. he and his co-founders turned that into a $6 billion fashion industry giant but not without some near death experiences, the likes of which in a different way many of our viewers are dealing with right now, whether they work for a small business or they own one. we thought you know what, let's bring him in and help him guide people out there as he's guiding the businesses he's taken an investment in. not only did he found fubu, the gigantic clothing company, but he is also one of the original sharks of the show "shark tank" and of course, the author of a brand new book out there called "power shift, how to transform any situation, close any deal and achieve any outcome." joining us now live in a fox business exclusive on the phone is daymond john. hi, daymond. i'm quarantined at my home. what are you doing right now? on the phone: i'm quarantined as well. i'm just trying to stick this thing out. i'm watching it as the news

cycle changes every five minutes or seven minutes, i don't know what's happening. liz: yeah. yeah. i know. i know that you take stakes in small companies and you, i'm sure, have been advising them. what are you telling them on the phone and can you give us some sort of insight into how small businesses can survive what is this total and utter disaster? on the phone: yeah, so i mean, of course the service industry is going to be very challenging and you know, what you initially do because i went through this in the dot-com bubble, i went through this in 9/11 and of course, '07-08. what you initially do, you go as small as you can with your employees and you try to save, because usually your top 20% of employees are really costing you the same amount as 80% of your employees so you go as small as possible. you start going in and renegotiating all your terms,

leases, inventory. you don't burn through your inventory right away because it gives you steady capital but a lot of people don't realize that a small business, whether you are a person at home living paycheck to paycheck, a small business is living quarter to quarter. how do you get small like this, how do you take advantage of this time and start understanding the power of working virtually? i went into my employees and we had a hard and real discussion and i said ladies and gentlemen, i need your entrepreneurship hat on right now. how do you convert what we have been doing in our company and take digital curriculums and absorb them and get on social media platforms and change the way that we do business, because we were preparing for something like this for the last two, three years and it started to pay off when my employees are rising to the top. liz: yeah. you know what, we are showing businesses like tgi friday's. that's not what we are talking about here. you have taken a stake in all kinds of companies.

i remember one called bubba b barbecue. tell me, that's obviously a business that is dealing in the food industry. how has his business been going? tell me, is he still got a takeout opportunity? some of these small restaurants have at least been able to do takeout business. but they are moment by moment. that's a very small percentage. on the phone: right. so that's exactly the point, right. the people that distribute the company, they are selling, their business going to restaurants has significantly dropped. however, the business going directly to people's homes, they were doing an average of $south carolinas $6 a day delivering to homes. now they are doing $600,000 a day because what they did was over a year, two years ago, they started to realize the power of social media conversion and they did not want to be at the mercy of just the retailers as we were

going through this. so a lot of the people i'm advising are people who are now saying i understand right now that brick and mortar is not worki working, if i can't connect with my customer through e-mail and know who they are and they are just walking through a door and i don't retain any kind of information on them, i need to change that immediately, as well as i can't pay for this type of rent so i need to get virtually assistance from a company i have been using. i will give you one example. one woman is in my book that works for a company, she's a virtual assistant, she went on maternity leave, comes back, says i have a premature baby, i only need to give you half the hours. it was no, you have to give all the hours or quit. she quit. she gave me 20 hours, gave somebody else five or six, another person ten. after this situation happened, i called and said please give me 40 hours and now she doesn't have to wear a mask, she stays home with her child and makes more money than she ever made before in her life. she makes her own hours and works for who she wants to.

she put the time in to understand that. we have to take advantage of that time now. liz: don't you find it fascinating that we are watching, not necessarily in a positive way, because it's really affecting people negatively, but we are watching the face of labor and how people work change. it used to be that people were criticized if they asked to work at least part-time from home. now look at us. most of us are all home. what would be the best advice if some businesses had zero revenue coming right in, how do they stay alive when this economy has been literally stun gunned? everything seems frozen in time. on the phone: right. i wish i had all the answers. i'm being affected as well from the aspect of having a small business, being an investor in up to 80 small businesses and being a son and father and human being. i'm being affected immediately as well. the reality of the situation,

it's only going to get worse, it's not going to get better. we need to deal with this now. what are the best steps we can take. if you are an employer right now, how are you getting as small as you can in your staff and making sure you are collaborating with other individuals that already have done this. if you are selling food and you know you can work with a company that is selling juices or selling gym equipment and you can give a collateral deal where all their clients get 30% off your now meal delivery and you kind of borrow each other in collaboration, you do that. you have to find ways to find where the puck is at and say how can i give you more value, add more value to your customer and in return, your customer is potentially going to get a discount. if i had a power right now, i would call peloton and i would sell to a store at 50% off, i would sell it at $50 and they would sell it for $100, i would

sell it directly to peloton for 50%, for $50 and say just put a $ $10vig on it and now your customer has $40 off the original price pand use that to clear your inventory. there's a lot of things like that that have to be done but you have to think like an entrepreneur. the whole reason these businesses are in business is because they think like entrepreneurs. liz: daymond, we have to run but i have one last question. we have the senate right now trying to figure out and get this rescue plan passed. if you were in the room where it happens, what would you say has to be in there for small businesses? on the phone: small businesses have to be able to take the interest-free loan for quite some time. you have to also kill the payroll tax like they have been doing, allow us to pay taxes in not 90 days, probably going a

year. we have to waive it because that's where you are going to then broaden the spread of the penalties into the small businesses and there have to be other incentives, other even tax breaks. those are the main things you have to do. right now, you got to get rid of your employees, then you got -- you don't have money coming in. you got to lay more money out and pay interest on it and are penalized on it, you're dead. liz: yes. daymond, you and i go way back. i remember going to the macy's on 34th street with you when fubu got its first window. you have really, really come so far. it's so impressive. thank you for sharing these at least hopeful ideas with our viewers. on the phone: i got to say one thing. i will always remember one smart man said i can give you everything in the world except for adversity. that's what your father said to you and you shared it with me. i will always remember that the rest of my life.

we are getting adversity right now we never knew it was coming. liz: yeah. he said i gave you kids every advantage except disadvantage. i guess we are all dealing with disadvantage. hopefully it will make us stronger. daymond, thank you very much. cheryl, daymond john is somebody who has taken stakes in so many small companies. the fact he's speaking to our viewers right now and giving them this reference point at least of some way to start bartering, that's what i heard, barter, try to figure out ways you can deal with your suppliers and vendors and just stay above water. stay afloat. we'll see what happens. cheryl: great interview. a lot of really practical advice from a lot of small business viewers that are home right now because they are not running their business. liz claman, thank you very much. good to see you. great interview. liz: thanks, cheryl. cheryl: we are watching all these markets. the dow down 663 right now. even housing is unable to escape

the coronavirus's tentacles. zillow suspending its online home buying operations in 24 of the markets it currently serves and they are suspending expansion plans into any new markets. this pause in its business aimed at preserving its cash pile through this outbreak. maybe that's a smart move. investors are showing their appreciation for that. right now the stock is up almost 16%. senator kelly loeffler and her husband, chairman and ceo of nyse owner intercontinental exchange coming under scrutiny for selling off shares before the pandemic started. new york stock exchange floor traders are frustrated with this husband and wife duo for a whole different reason. charlie gasparino has the scoop. what's going on? charlie: well, we should point out there were two separate bunches of stock sales. it was her own stock sales where she sold on behalf of her and her husband pretty early on which looked bad, really bad, but not insider trading.

there was her husband's own stock sales of his own stock, i.c.e., the intercontinental exchange which owns the stock exchange which was later, in march, when the sale date was printed. clearly not insider trading but clearly looks bad. i will say this. there are business models that come under intense scrutiny and pressure when you have a market collapse like this. softbank is one, as you see it right now among the assets. the new york stock exchange is kind of coming under another type of pressure today. this is what's going to be, i guess we will talk about for awhile. a lot of people say if anything, what the new york stock exchange did was expose the fact the floor of the stock exchange was put at risk when it didn't need to have to be put at risk. that people knew there was an issue going back with the spread of this virus for weeks. clearly, people were scared about this, yet the floor,

manageme management, namely sprecker and -- they kind of rolled the dice to keep the floor open when it didn't really have to be open. what i'm seeing is immense criticism from pawnbrokers who are saying these guys put us in harm's way. even i think different than that and maybe worse for the new york stock exchange and its business model, there's a real debate going on whether to floor is needed at all. as you know, members have gone on to say we did a story about how doug sifu, ceo of virtu, key partner of the new york stock exchange, said the floor is essentially a tv studio. i think there's going to be a debate about the floor, whether they need it. if there's a real debate about the floor, the new york stock exchange doesn't lose an edge in pricing stocks. it still has the electronic thing. where it's going to lose its edge is in marketing. if they don't have the floor it's going to be hard to charge

four or five times as much as they do for a listing fee because part of the drama of the day, it's televised drama, as you know, where cnbc has a huge operation there, other people have huge operations, is this sort of, this drama on the floor which really isn't much drama. the real trading is occurring electronically, at hedge funds, it's not occurring with the people that are left on the floor. i think there's support staff and everything, it's probably under 500. it was many times that during its heyday. that's the problem the new york stock exchange has. all these stock sales are not illegal. they look bad and people are going to start questioning why they need floor, you know, at all when they should have shut it down awhile back. that's the problem the new york stock exchange has. we have asked them for a comment. they merely pointed out that mr. sprecker and kelly loeffler, particularly him, he's the

chairman of the stock exchange, what he did was completely appropriate. while true, i don't believe it's violating law, but there are business models coming under a lot of pressure and will be coming under pressure. people doubt, i will say this, i talked to a lot of wall street execs, they doubt the floor will ever open again. we will see if that happens. we should make one more point here before i go. mike bloomberg, as we were first to report, was shutting his campaign down. he initially said he would keep it going through the primaries and maybe even to defeat donald trump. he's essentially folding it in to the dnc. came under some criticism because people were wondering am i going to get a paycheck now, am i going to get my health insurance now. my producer came across a memo just issued that bloomberg is going to extend to his campaign staffers, people that are -- may lose their jobs, he's going to extend health benefits through april. at least that's what the memo said. he's joining others that trying to take care of employees as we

get through this time. by the way -- cheryl: i needed good news, charlie. charlie: we should point out that april is not exactly that far away. if you listen to tony fauci, this thing could go on for beyond april. back to you. cheryl: ghaercharlie gasparino, to see you. thank you. we will see you tomorrow. we want to take a look at what's happening with the markets. we are down 488 right now. the closing bell is going to be ringing in eight minutes away. as you can see, the s&p is down 59, nasdaq down 23. dow is off session lows. i'm just saying. this is all despite these red arro arrows. of course, we are watching the markets. here's a good story. two titans are teaming up to help fix ventilator shortages that are striking hospitals. elon musk has talks going on with health care company medtronic on how to create and distribute state of the art ventilators that can help thousands of patients in need right now. the stock split. tesla is higher, 1.5%.

medtronic down $4.21. let's bring in lauren simonetti. she's in the newsroom. tesla is not the only company that's really trying to lend a hand right now. lauren: absolutely not. elon musk says about 1200 ventilators will be ready this week. they have already sent out tens of thousands of masks over the weekend. facebook donating masks as well. 720,000 of them that were left over from the mark zuckerberg is working on sourcing millions more. apple is donating two million industrial masks. major respirator maker 3m has increased production to 100 million a month with 90% of those masks going to health care workers on the front lines. honeywell are adding a production line with at least 500 workers to make more masks. meanwhile, the federal government, ibm, alphabet, microsoft, are giving researchers access to supercomputers to speed up a cure for coronavirus.

liquor companies pitching in here. anheuser busch inbev making eight ounce bottles of hand sanitizer with 80% alcohol. diagio donating enough booze to make more than eight million bottles of hand sanitizer. we are seeing more and more private companies step up here. cheryl: good news. we like to hear good news on a day like today. lauren simonetti, good to see you. all right. well, as we enter the final moments of trade, want to kick off the week with, okay, we got a monday with some red arrows but our "countdown" closers have you covered with sector stock picks you need to at least keep your portfolio ready to fight any type of virus. let's bring in sylvia jablonski and jordon kimmel. great to have you here. let's talk about this, sectors. i keep looking at the nasdaq and technology. every time we have had these off

days, bad days, tech has not been sold off as other sectors. why is that? on the phone: i think the reason tech hasn't been as sold off is because a lot of investors are looking at this market and starting to think about, you know, when is the opportunity to come back into the market and when you think about where you would go and what you would invest in when we hit a bottom and -- or when we feel we are starting to hit a bottom, it would be some of those tech names, some of the fang names that brought the market up originally in the first place. i think that once we get more news about fiscal stimulus, we have the fed on board with monetary stimulus, we might start to see this abate the markets a little bit and i think tech is a place investors will look to first. cheryl: do you think the fed made the right move this morning? >> i think the fed is going to make more and more moves, cheryl. not only do they make a move today, there's a lot of talk a couple days ago that the fed only has a couple bullets and

they need to save them. the fed is making the statement that hey, wait a second, we will do whatever it takes, whether it's asset buys, whether it's even buying -- they will figure it out. but they can't sit on their hands. the economy needs some stimulus and i think that the next plan that i see frankly is a big housing stimulus, housing market got rocked and if they can do something for the housing market here, jobs at home, supplies at home and material, i'm seeing that area starting to perk up right now, i think that's a big announcement that could come and will come. cheryl: i want to point out to our viewers, guys, stand by, the nasdaq has just gone positive. the nasdaq, we were just talking about technology. nasdaq has just gone positive. right now . we were down 960. now we're down 399. and we still got about four

minutes to go or so, four minutes, 15 seconds. this is always happening at the close. liz claman will tell you this. before i let you go, talk to me about what you're seeing overseas, obviously big concerns about a global recession. are you that concerned about that? >> definitely concerned about that. i think there will be at least a global slow down. i do think we're awaiting for fiscal stimulus to help give our economy some comfort but what will be really interesting i think is watch china. so china is in theory starting to come out of this. they're 70% back up and running. manufacturing numbers are low. -- are low but with if we see how they recover, if they continue to support the global economy by purchasing from the u.s. and europe and some of the markets have been down most hit, being second largest economy, could weigh on speeding up the recovery out of this. if you look back at the last bear markets, every single time

equities have recovered. the pullbacks are stark. they're deep and they're deep. we do see equities recovering and pulling out. i wouldn't expect anything different this time. it just a matter of how long will it take for us to get back to that 35% s&p 500 high from mid-february. cheryl: as we talk about how the markets are performing, buying into the fear, if you buy, if you don't buy into the fear, you look for opportunity. you look for companies specifically to pick up. you buy into the fear, you start to sell. i know you're going to say the worst thing somebody can do right now? >> you're right. i main thing control your emotions. how many times have you heard people say, man, i got left behind. if the market ever pulls back i will jump right in? this isn't a pullback, this was a freakin' takedown. with has to happen, i will wait until it gets scary and ugly,

when people can't leave their houses or how much scary or ugly the market can actually get? cheryl: depend how long they're in the houses, sylvia. when does the virus peaks. it is hard. >> we don't know what the virus peaks. italy came out first time with a decrease in the number of cases and deaths. we have a general sense this could take at least couple more weeks if not a month. but the key i think will be fiscal and monetary stimulus, how quickly we get back online. what does that mean? does that mean one person working at a restaurant or does mean rehiring staff? so i do think that we will have some sort of slowdown for the rest of the year, potentially into 2021. hopefully we have a recovery. we went into this with a strong consumer, with a strong jobs number. fiscal stimulus is really what would make the difference. it has to be the tune of multiples of trillions.

cheryl: talked about 2, 3, $4 trillion. [closing bell rings] they made it very clear. they will do whatever it takes. this is unlimited qe, unprecedented. sylvia, jordan, thanks for joining me. that will do it for me. melissa francis, connell mcshane, take it away. melissa: waiting for relief but absolutely not going to get it. this market closing down oh, looks like it will close down about 600 points right here after the worst week for stocks since the financial crisis? we were down more than 950 points, worst part of the session. guess you could say better than than but not by much as the senate fails to advance the stimulus. too much fighting going on. it is not making markets happy. i'm melissa francis. connell: connell mcshane. i'm not happy at all. "after the bell," with the s&p 500 closing in negative