foreseeable future. [closing bell rings] once again i want to keep everybody in mind, big sell-offs, don't panic yet. we can hang in there. liz: got it. jason katz, phil flynn, there is the closing bell. markets kicking off the second quarter. let's call it a gut punch to investors. dow jones losing 975 points. until tomorrow that will do it for the claman "countdown." melissa: kicking off the second quarter with huge losses. stocks in the red following the worst quarter since the financial crisis. i'm melissa francis. connell: i'm connell mcshane. welcome back to "after the bell," everybody. these major averages closing not far off the session lows. 4% down across the board or more than that we'll talk about everything that went on in the markets today, as well as all the big headlines of the day. our reporters are set up with fox business team coverage this afternoon. blake burman could covering thet

from the white house, lauren simonetti on markets and. lauren with, dow down 1000 points we start with you. lauren: good news t was off the lows of the session. this is ugly. what a way to start off the new month and new quarter. the dow down 973 points. broad selloff. president said it would be tough new weeks. number of coronavirus infections in the utz top 200,000. if investors were spooked they got more spooked. boeing, american express by the way leading the losses on the dow today. setting the tone this morning was the private employment number. you know what? it is an old number. it only counted half of march before the lockdowns in states throughout the country. that was a negative number. it sets us up for what we'll see tomorrow morning, unemployment benefits. those numbers, goldman sachs is saying we could see 5.5 million

people file for first time unemployment benefits tomorrow. five 1/2 million! on top of 3.3 million we saw the week before. so that is an ugly part of the story. so too is the price of oil just cratering. we expect to see a meeting on friday between exxon and chevron and occidental and continental. their executives meeting with the president about what to do with the oil crash. oil and energy certainly helps lead markets lower today. overall a -- for cash. we see that in the safety trade. investors flocking to treasurys. some of these names, have individual stories like macy's, it knocked out of the s&p 500. marriott, they have a data breach in the midst of all of this. all these companies, sabre and la-z-boy, what they're doing, they need cash, instead of cutting health care benefits for the employees they're reducing, suspending some much their

401(k) matching contributions for workers. sew with that, send it back to you guys. connell: lauren, thank you. jonathan hoenig joins us with analysis, capitalist pig hedge fund founding member. also a fox news contributor. jonathan, we saw markets reach people thought was short-term low last monday. a huge rally from there. now much different stories we move to the middle of this week. what you see in markets and over the last week 1/2? >> a whole number of weeks, connell. one old axiom keeps coming back to my mind. when elephants dance, mice get trampled. elephants continue to dance. when i look at today's action i really see a market in disarray. you might not see it on the surface, believe me, tremendous margin calls, distressed selling, still weakness around despite all the stimulus. only 8% of stocks now are above their 200-day moving average.

as our reporter just mentioned, stocks like macy's, dillard's, department stores are trading like they're going out of business. the markets are extraordinarily weak. as been mentioned as well, connell, the question, is there going to be more stimulus? who will get the stimulus? this uncertainty is exactly what is causing a lot of the violent machinations especially in the credit market which has been all over the board lately. connell: yes it has. what an environment. jonathan we'll be back to you in just a moment so stick around. melissa. melissa: bracing for a painful two weeks ahead. our own blake burman is live in washington with the latest from the white house. blake. reporter: hi, there, melissa. president trump continued to push foreadditional measures to combat the economic fallout from the coronavirus. the president today vouching for a tax treatment that hasn't been in play in more than two decades. that was the tweet from president trump earlier this afternoon, he wrote, quote, congress must pass old, strongly

proven deductibility by restaurants and entertainment. this will bring restaurants, everything related back and stronger than ever. move quickly. they will all be saved writes the president. this comes after his tweet yesterday in which he endorsed a 2 trillion-dollar infrastructure package, something that nancy pelosi and democrats want to see as well, an infrastructure package as part of a phase four relief measure. however senior administration officials i spoke with earlier this morning said right now their main focus is implementing massive $2.2 trillion phase three relief package and not on building out a phase four measure. as one senior administration official put it to me today they are focusing on now things now and we'll worry about the next things next. though i am told at the staff level some are working on what a phase four buildout might look like but that is very early in the process. meantime we're also being told now that oil executives are

expected to be meeting with president trump on friday at the white house. leaders from some of the major players expected to be involved as you know. as we've been documenting for weeks now, there has been a tumble in oil prices because of the fallout between russia and saudi arabia but also because of the coronavirus now. and all of the soaks distancing practices that are in place. demand here stateside as well has fallen. that meeting, melissa and connell, expected on friday. back to you. melissa: wow, i will be interested to see what comes of that, blake, thank you. connell? connell: let's stay in washington, melissa for a moment, head over to edward lawrence. he has been covering the stimulus package throughout the week looking for answers especially for small business owners on the help that might be on the way for them by the enof the week. what is the latest for that edward? reporter: senior administration officials do not know how how many small businesses will apply for the loans but they have increased the behind the scenes

system to process loans and handle a large number of them. the officials believe most of the loans will come in online. so small business owners can call their banks and try to figure out where that form is going to be online. the small business administration scaled back the application for this. there are no guaranties needed by the businesses because the government is backing the loan. no collateral is needed. there will be no review by the small business administration. the banks have authorization to approve the loans. the expectation from senior administration officials is money will be given to the small business the same day. at the end of eight weeks the small business owner can come back to the lender, they will have to prove the average monthly payroll has not changed. that is how you get the loan forgiven. for small business this is is challenging environment to navigate the shut-down economy because of the coronavirus. terry garcia with tsp baking company in las vegas, she is calling back employees whose families rely on those salaries.

listen. >> this has been a on the fly situation and a huge learning curve but we adapted pretty well because we already had these policies established with online ordering. it kind of got ramped up real quick. the phones have been ringing off the hook, especially on weekends actually, because people are still celebrating their birthdays. instead of doing custom cakes, we normally could do that we don't do that anymore. reporter: she is delivering in las vegas and shipping her cookies across the nation. a lot of businesses had to adapt and small business is dealing with a changing environment as the economy is shutting down and is still shut down. back to you. connell: no doubt. edward, thank you -- melissa: bottom line, small business, call your banker, bottom line, small businesses call your bankers. there you go. let's bring in karl rove, former senior advisor to president george w. bush and a fox news contributor. karl, if we look at the politics

around this, a lot of people are trying to gauge what is the permanent damage to the economy, that leads to the re-election, who will be in the white house come new year, how this will impact the election in the fall, one thing you noticed you forgot about the democrats. they're not getting any airtime. you're not hearing about joe biden or not hearing about bernie sanders. is that good or bad for them and how does that play for president trump? >> you're right. they have been sidelined. joe biden attempted to become part of the dialogue by broadcasting from his rec room in the basement he turned into a studio but not very effectively. a lot will be what happens. how well is the president perceived to be handling this coronavirus crisis and the more they criticize him now, the worse off they are because this is a moment where the people of america want unity, they want less partisanship. the idea they're carping from the sidelines is not helpful. to them, let alone the country. i don't think it is particularly

effective. i have got in my column tomorrow in the "wall street journal." joe biden keeps running around saying the president needs to invoke the defense production act. well nobody knows what the tpa is. if you do know, you probably are aware that the president has invoked it and threatened to invoke it in order to get companies to comply with demands to change production for vital health supplies. he also said in the debates march 15th debate, we need to build hospitals, we need to build hospitals. the picture of the usns comfort steaming into the new york harbor past the statue of liberty being sent off from norfolk by president trump and the army corps of engineers turning the javits center into a hospital, and they will do that in number of other cities in the coming weeks, that is long be long remembered, long after joe biden's attacks have been made. but it is going to be, the economic challenge in the aftermath of the coronavirus will be the second big test for

president trump and how he handles it, not how the recovery is, but how he is seen to handle the recovery is going to matter. i don't think people will blame him necessarily for the bad economic conditions. they will blame the virus but hold him responsible for what is he doing to make certain we get back to prosperity as rapidly as possible. melissa: so, karl, so one of the things i wonder, is do people remember how slow the obama-biden recovery was? mathematically speaking it was the slowest, worst recovery in terms of gdp ever on record since the fed has been keeping track of those kind of things. and we saw the divide, the wage gap between rich and poor grow wider. median income didn't go anywhere t was totally flat, if not falling during most of that period, do people remember that, do they associate that with joe biden that was too long ago, that was yesterday? >> that is a long time ago but they have a general sense things got better once trump got into

office. in the three or four years leading into the 2016 election, raising were rising5% faster for people in white-collar jobs, managerial jobs than the working man and women on the line. in the last three years they have been rising a quarter more faster than for the working man or working woman than they are for their supervisors. people have a sense that things in 17, 18, and 19 were pretty good until 2020 along came the virus. that will abettor standard and a better position to hold for president trump than the sort of generalized sense that people had that things weren't that good under obama-biden. now, that, even more important than that though is i think what do the democrats do? because during the, you know, when nancy pelosi held up the relief bill and had all those stupid provisions that had nothing to do with recovery, same-day registration for voting, you know, and end to use

of last four number of social security number to check for fraud on ballot security, $35 million for the kennedy center which she eventually settled for 25 million-dollars, you may have seen the kennedy center took $25 million in federal aid and immediately fired national symphony orchestra. turning on the working man or woman, just because they play a violin or flute, they should have gotten paid with the $25 million. goofy ideas. "green new deal." national public radio. funding for planned parenthood. they got a lot of bad ideas they were kept from putting in. they will talk about those things unless joe biden steps in, wait a minute, i will be the nominee of the party. i have some ideas what we ought to be focused on and it is not side issues like that. melissa: all right. we'll see, karl rove, thank you as always. connell? >> you bet. thank you. connell: meantime calling for tougher action.

bill gates of course has a lot of experience in the world of health over the years outlined a plan to try to fight the coronavirus in a "washington post" op-ed. he writes in part, until the case numbers start to go down across america which he says could take 10 weeks or more, no one can continue business as usual or relax the shutdown. any confusion about this point will only extend the economic pain, also cause more deaths. jonathan hoenig is back with us. we're also joined by dion rabouin from "axios." start with you. we've seen some brutal projections over last couple days both from the coronavirus tack force and individual governors like governor cuomo in new york and bill gates adding to this, only way to do it, he works the economy in, you see the projection he is using comes from the university of washington, we have the curve on the screen right now, that particular projection takes into account or project the out, two months by the 1st of june there

could be 90,000 deaths in this country, that is with mitigation efforts. the question becomes, what type of an economy do we have deion, when we get to june, july, and august? >> look, bill ackman, went on another network, pounding the table two weeks ago saying exactly what bill gates is saying right now. mr. president, we have to lock down the country. it has to be 30 days. we have to lock down the entire country. this patchwork of individual cities and states doing their own thing is not going to work because people can very easily take off. i live here in new york city. when they put the lockdown on new york city, they went to new jersey, connecticut, they went up state. when they put lockdown on the tri-state area, folks moved out of there. the without a full nationwide lockdown, the virus continues to spread. we see shutdowns and economy lags because folks can't get

back to work. bill gates is saying what bill ackman said two weeks ago and the president hasn't listened. maybe he will listen to bill gates. connell: the president last night, jonathan, was different. that was a different tone we saw from him. seemed certainly he shifted in his strategy. in florida where governor desantis did not shut down the entire state, to deion's approach, you had county by county approach to this. finally today you have something more consistent. how would you work that into your economic fears or projections once we get through all this? >> i think being healthy and wealthy, they're correlated, connell. we cannot be healthy as a country if we are not wealthy as a country. bill gates predicted this in 2015. he predicted pandemics. he is really a genius on this but i think his solution is only half right. this notion of a mandatory, essentially forced quarantine, connell, takes out the whole context. in texas for example, is very

different than new york city. it also takes out creativity of business. look if we shut down deliveries, food, fuel, the wheels of economy have to turn, connell. otherwise you will, i don't want to be hyperbolic here but you will have depression and have riots on the streets. we need to have some semblance of the economy and to allow businesses to get creative to begin to move this economy forward to keep a recession from turning into a full depression. connell: more discussion to come as always, thank you, gentlemen. jonathan, dion, good to see you as well. melissa. melissa: more than 900,000 cases worldwide and 200,000 right here in the u.s. and by tomorrow, cases are expected to surpass the one million mark across the globe. we have the latest on the pandemic this hour. plus new york under pressure. first-responders sounding the alarm as cases spike across the state. we will talk to fdnyems chief

about her experience next. relief amid the outbreak. we'll talk to the ceo of world central kitchen about his efforts to help local restaurants and health care professionals on the front lines. stick around. ♪. you wouldn't accept an incomplete job from anyone else. so why accept it from your allergy pills? flonase relieves your worst symptoms which most pills don't. get all-in-one allergy relief for 24 hours, with flonase.

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melissa: at risk on the front lines first-responders in new york city receiving record number of ambulance calls and less hands on deck as more paramedics call out sick because of the virus. we have the emergency services chief. thank you for joining us. i have a friend who's son is dispatch. he can't believe what is going on.

everybody is stretched so thin. more calls than you ever have fielded. tell me, what's it been like? >> it is incredibly and difficult challenging time here in new york city and our first-responders and all of the health care providers around the city are on the front lines of this war. they are fighting, bringing the fight to it and they're going to keep fighting and your friend's, your friend at dispatch is one of those heroes. we've seen an incredible increase in call volume. normally we do 4,000 calls for help a day. we're up past 6500. so it is a significant jump. melissa: wow. are they encountering people who are debilitated by the virus? are people nervous about going to the hospital themselves? is, tell me about the people that you're actually encountering when you go out on these calls. >> yeah. everybody is, everybody is nervous. we're seeing a lot of very, very

sick people and, some folks are very nervous about being exposed and bringing it home to their families and some people are just generally, really, really sick. our first-responders are dealing with all of those calls and we're trying to bring some comfort and certainly answer the calls for help for all of those people that desperately need us. melissa: what kind of assistance do you need? we heard there is more support on the way from other parts of the state but what do you need? you don't have enough ambulances? you don't have enough people? >> you know, we are, we're facing all this call volume this is all hands type of event. we activated all the mutual aid agreements. we brought ambulances and ems from all over the country came here to help us. just yesterday we had 120 additional am ambulances in fied

from all over the nation. we activated firefighters out there. they're all out there. we activated commercial partners they're all out there. hospital based partners are increased number of tours. we're all there on the front lines. we're out there doing this what we really need new york to help us out. if you're not suffering a true emergency, a severe emergency, you should stay home. or call 311, to see if you can find a doctor through them. they're there to try to help you, if you could save 911 for the real serious emergencies that would be very helpful. >> do you feel like is it getting worse at the same pace? do you feel like every single day it is getting increasingly more chaotic? >> i feel like we're on a up elevator. we're still escalating. there are some days we get a dip here or there but we're certainly seeing the call volume be sustained and certainly seeing calls for help increase.

sometimes it increases more than others but it is still on the up rise, yes, and the next few weeks we'll expect we continue to see a rise. and we're going to answer those calls as best we can. melissa: god bless you. thank you so much and thank you to all the ems workers out there with the health care workers trying to help all get through this. bless you, thank you so much for yourselfless sacrifice, thank you. >> thank you very much. thank you. connell: melissa, a potential breakthrough as we continue. there is a hospital in houston performing very first first class -- plasma transfusions. more than 1000 passengers stranded on a cruise ship off the coast of florida. they're pleading with that state for permission to dock. announcer: there are everyday

actions to help prevent the spread of respiratory diseases. wash your hands. avoid close contact with people who are sick. avoid touching your eyes, nose and mouth. stay home when you are sick. cover your cough or sneeze. clean and disinfect frequently touched objects with household

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learn more about aarp medicare supplement plan options and rates to fit your needs oh, and happy birthday... or retirement... in advance. connell: the race is on to find a cure or treatment. federal drug administration approving the first class ma the first plasma use. we have the very organization that performed that treatment. dr. boon, thank you for joining us. we've been following this treatment some time, expert from

columbia following it some time ago. it is being put in place, what can you tell us what you have done there, about how optimistic you are about the success? >> well, thanks. very exciting. our team across the department of pathology applied for an emergency usage from the fda over the weaken for two separate patients and was able to utilize the con convalescent serum on two patients. too soon to know whether it works or not but we're optimistic about it or the safety and potential efficacy about it as we lead with large trials collaborating with others around the country. connell: the models that project what might happen because of covid-19, the out comes can be influenced we always talk about behavior, social distancing and the like and the hope is as dr. fauci talked about last night, some of the worst numbers

may come in lower. what influence might some experimental treatments have on outcomes? is there any wray to get a sense of that with plasma, for example, how effective it might be best case? >> that is a great question. it is 100-year-old idea to take the serum from people who have been cured or who have recovered from a disease and therefore they have antibodies and then try to treat people with it. we don't know whether that will be best used for people critically ill. whether that might be best used somewhere earlier in the face of illness but this along with other promising therapies could very much be part of the solution how we return to normal. for example, if we knew this worked one day, perhaps even then scaled it up through the production of the specific antibodies it may be a therapy you could give people to prevent them from getting particularly sick and needing icu care which would enable us to care for many more people within our hospitals. i want to emphasize we don't know the answer to that question yes but that is exactly why it

is being done compassionately for some patients, leading into a large multicenter trial so we can answer those kinds of questions but we have a lot of cautious optimism for this technique. connell: understood. when you used the term antibodies it sparked another question somewhat unrelated, dr. boon, we heard whether larger population a test would be made available or how soon it would be made available, to see whether or not i have had exposure or had covid-19 around didn't realize it, right? i was asymptomatic and want to go back to work want to know whether i had it or not, how close are we on that front, do you know? >> those are coming pretty quickly. several different arms of manufacturers put out tests like it that. they're talking about zero logic testing. there is anti-body you have in early phase and eventually you transfer, this works in all diseases to a different kind of

anti-body. it is a great way to look at a body of people to understand if there is immunity there. i think that will be important tool coming up, for example within a health care environment we'll have to look at large populations of our employees, who is at risk, who is not at risk, who had the illness, who didn't have the illness? which will enable us to target care better. i think it will be useful at a population most likely as well. connell: real quick, because we're out of time, when you say quickly, months, weeks, for that type of thing? >> i think you'll see the first of that testing rolling out the next couple of weeks, ramping up that and scaling that up, probably a longer period of time. it is not as relevant today as it is going to be i think as we start figuring out how to release some of the restrictions, getting back to a little more normal life. i think it will be very useful in that scenario. connell: that is exactly what i was thinking, going back to work and then to school, children might be in the fall or whatever it is that would be important information to have. dr. mark boon, important

information. thank you for explaining it to us. melissa. melissa: apple under pressure. the tech giant might postpone the september release of the 5g enabled iphone over pandemic fears according to business insider. apple citing concerns about consumers readiness to buy the device in a slumping economy. feeding those on the front lines, how one organization is serving 350,000 meals a week to workers across the country. plus the coronavirus task force is set to give an update on the pandemic any moment now. we will bring you the briefing as soon as it begins. with so many americans working from home the fbi is now warning about a new form of internet hacking called zoom bombing. we're hackers scour the internet for links to videoconferences an join the participants without permission. uh-oh. ♪.

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connell: thousands of passengers awaiting in limbo. florida governor ron desantis, he was just on neil cavuto on "your world" in on the fox news channel. he will have the cruise ship situation resolved by tonight or tomorrow morning. he will allow the county commissioners in broward county essentially make the decision. he just said that minutes ago. max joe joins us son much two passengers currently on the ship. thank you for coming on. we'll talk about your mom and dad in a moment. your reaction to this point of news. i didn't see the interview. it just happened right before i spoke with you. county commissioners in broward will come up with a plan by tonight or tomorrow morning to get the ship docked and

passengers off and the situation resolved. what do you say? >> i've been tracking the florida board of commissioners meetings for a couple of days. that is their position for a while. their first priority is protecting the local citizens. the question was, what will happen to everybody that is not necessarily a floridian like governor desantis was saying, he would accept floridians but not the others. so just trying to figure out what is going to happen to everybody else, like my parents who are from new york and all the other global citizens aboard the ships. connell: so what did you think, your parents you say they're from long island, right? that is picture of you and your parent. number one, how are they doing and what kind of are their options where it comes down to that where floridians are allowed off, hopefully they're allowed off and new yorkers are not, what are the options? >> you know, i'm trying not to

think of that situation because i'm hoping that doesn't happen. you know, when president trump acknowledged the situation yesterday and he realized it is a humanitarian crisis, and he said, you know, he will do what's right, not only for us but for humanity, for me that it is a signal not just protecting our own but trying to save everybody. i'm really hoping we find away, a plan that works to get everybody off those ships. connell: and how are your mom and dad doing? >> my dad has been running a fever for a number of days now. it has affected his ability to eat. so he is struggling. last time we talked he sounded pretty weak. but he is hanging in there. he realizes that there are many people that are very sick on the ship, that including two that they're trying to medevac out for days and, no country will allow them to get these sick people off the ship. so you know, he realizes that

there is really a bunch of urgent cases and he is just one of many, so, he is just hoping they all find a way to get off of there soon. connell: we all do. i hope for the best not only for your mom and dad but for everybody on the ship. if the governor's right, tonight or tomorrow morning hopefully will be enough time to get everybody needs treatment, the treatment they need. maximillian thank you, and all the best to you and your family. we'll check back on that situation. melissa. melissa: feeding the front line, the non-profit global relief organization, world central kitchen, teaming up with restaurants to feed health workers, joining us now is the company's ceo. thank you so much for joining us. you know the last time we talked to you you were feeding people that were stuck on cruise ships and now you're trying to help people at the same time as, helping restaurant workers in restaurants that are suffering. tell us how that is working. >> absolutely.

you know it has been quite a journey going from the cruise ships and in japan and oakland to now, you know, it really hitting across the united states. so, a lot of people are struggling right now. we have a lot of folks to feed. we have millions of families out of work right now who need to put food on the table. we also have an entire industry, the restaurant industry, that is, you know, on hold. so we've got folks that need to be fed and also folks that are able to provide food. so what world central kitchen is making that connection. we're putting restaurant workers back to work helping to feed america and then, we're serving as that connective organization that can make sure we can get the food to those who need it most across the country. melissa: so are you hiring them to work in your kitchens or are you paying local restaurants to send food out? >> yes. what we're actually doing is we're hiring the restaurants

themselves. so we're letting the restaurants do what they know how to do best. you know, they're the experts in, in their business and so we're able to instead of world central kitchen in normal sort of disaster we get up and running with big kitchens and producing tens, hundreds of thousands of meals. this time around what we're able to do is divert the effort to the restaurants themselves. so getting dozens and eventually hundreds and thousands of restaurants up and running to be, to be cooking. so they can hire their workers back, they can produce meals that then can be distributed outreaching, families, seniors, who are struggling during this time. melissa: can i ask you, you have a really high standard for the food that you put out there, even in, you know the hardest-hit areas where you think people can't cook, you're providing delicious healthy meals, how do you make sure the

restaurants you're hiring, basically helping out to send the food out kind of meet your standards? >> yeah that is a great question. this is a process. right now we're starting in a few cities. world central kitchen overall at the moment we're working in 20 cities across the country. we're serving close to 100,000 meals a day, not all of them from restaurants. we have some of our centralized kitchens where we're producing meals but slowly we're getting restaurants on boarded. we have protocols around the health and safety, the food handling, even all the way to the delivery to get the meal to those in need and so, you know, this has been, this is a process. we've learned a lot, working on the front lines in japan with the cruise ship and oakland and refining protocols to really follow strict standards and working with the cdc, gw university and others to take in some of their guidance and consideration. so it's a process to work with the restaurants to really kind

of get them prepared but the good news is that the virus doesn't transmit through food. so it is really about keeping the people safe and that's what we're focused on. melissa: so you, i only have a second left you kind of guessed what i was going to ask, has anybody on your team gotten sick or gotten the virus as a result of helping out? >> no, thankfully so far our team has been very safe, you know, throughout all the work we've been doing and now across the country, we are following very strict protocols to make sure that is the number one priority, not putting anybody at risk. making sure that we're constantly checking up on them. so, so far so good. we know the virus is, you know, is everywhere there. so we are prepared and we understand that it may happen, and, you know, many ways that is why we think this approach with the restaurants is so great because it is distributed. so you know, we can have

multiple points, getting food out to folks in all areas of the country and, so it is less of a potential single point of failure. melissa: nate, thank you so much. you guys operate faster and more effectively than any organization i've seen. if you don't eventually win a nobel peace prize i will be in shock. thanks for coming on. some people have said that. cornell, over to you. wow, those guys do great works. connell: we have a "fox business alert," melissa. that is great work. the federal reserve made yet another announcement. what they're doing is easing the leverage ratio rule for the banks. edward lawrence covering the fed rejoins us from washington. i guess trying to help things out in the bond market? tell us about this, edward. reporter: this is an accounting thing, a temporary rule change. the it will affect the leverage ratio of the bank. it takes off the accounting books treasurys the bank owns

and deposits the banks have with federal reserve. the result, a larger pool of money on paper, the bank could lend out to households, businesses and keep the liquidity in the treasury markets. in the statement the federal reserve says liquidity conditions and treasury markets have deteriorated rapidly. this would make sure there is enough liquidity in the treasury markets would also give banks more money to lend out to households and businesses. this rule change in effect until march of next year to spark the economy, not just now but also in the recovery after the virus has passed. back to you. connell: yet another move. edward lawrence, thank you from the federal reserve. this time a temporary rule change n a moment we'll take you to the white house. remember the coronavirus task force is set to brief reporters. that will happen, supposed to be at the top of the hour. we're monitoring that, when it begins, any headlines that might come out between now and then. don't go away. ♪

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connell: "fox business alert." you can add georgia what is ever growing list, the governor there, brian kemp, just announced a statewide shelter-in-place order. he also adds that he will keep the schools in georgia closed for the remainder of the year. just in from the state of georgia. melissa? melissa: wow, closed for the

year. all right. entertainment industry hard hit by coronavirus. theaters across the globe are shut down. movie production all but halted, studios are pushing back theatrical release dates as hollywood fights to adapt. here is bret larsen, fox news headlines 24/7 anchor. a lot of moves supposed to go to theaters are going directly to streaming or in theaters for very short period of time, but prices i noticed to get a movie streaming are much higher since we're all inside. do you think does it even out? are they able to recoup that money? >> you know, melissa, actually it doesn't really even out. the price that they're charging folks to rent these digital downloads, usually $20, when you think about a family of four goes to see "frozen 2", that will be 80 to $100 they make on four people seeing the movie,

versus if you rent it 4hours for 20 bucks, your whole family watches it a couple times. they're not making that much money. it is interesting, all the data, statistics we're looking at, you mentioned off the top, movies like "the invisible man." opened in theaters, had a couple good weekends, but now you can actually rent it on amazon prime for 20 bucks. so that was a quick shift. we're hearing about the next bond film that was supposed to come out this month, has been delayed for theatrical release until november. they're holding on to it. marvel's "black widow." same situation. superhero movies, comic book, movies, sci-fi, movies you want to see it in a theater. you want the theatrical experience, even with a great home theaters set-up it will be a great experience, the latest data, i was reading a article on deadline, analytics firm edo,

says5% of the people they talked -- 75% of the people talked to when the shelter in place rules go away, they are definitely going back to the movies. that is great news for hollywood. what i am curious to see as we get more into the habit of renting first release movies, not waiting the 90-day period, in theater, wait 90 days you rent it, some instances you can buy it. i'm curious to see if we see at the end of it, if some of those deadlines or restrictions will be shortened because people have gotten in the habit renting a movie on demand, enjoying it in your home. melissa: yeah. it will be interesting to see -- >> there is a bright spot. melissa: or not. yeah? >> right. melissa: all right. brett larson, thank you so much. connell? >> drive-in theaters in some areas are still good. melissa: good point. i love it. connell: with all the delays, brett, thank you one and all. responding to a surge they have

seen in shoppers, grocery stores are switching up the operations to some degree. we'll talk about how this could change the industry going forward as we know it. that in fact coming up next. we're waiting for the coronavirus task force briefing live from the white house. as soon as it begins we'll take you there, coming right back ... we are solving problems that improve lives. we do things differently and aother money managers, don't understand why. because our way works great for us! but not for your clients. that's why we're a fiduciary, obligated to put clients first. so, what do you provide? cookie cutter portfolios? nope. we tailor portfolios to our client's needs. but you do sell investments that earn you high commissions, right? we don't have those.

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melissa: fox business alert,

mississippi governor just issues a statewide shelter in place order, state of mississippi. connell: like we say, they are adding up. the experience at grocery store may be forever changed. grady trimble live in chicago. reporter: one of the few places you can go with shelter in place orders, grocery stores limit the number of people that can be inside at a time to follow social distancing guidelines, stores are all hiring. part of reason to keep up with so many ordering on line. so they are order ago hiring tens of thousands of people right now. from kroger to whole foods to walmart. because of that surge in demand we're seeing. and you are seeing safety precautions in place, the sneeze guards and cleaning more often,

and experts say, they are changes you might continue to see once things are back to normal. connell: grady trim bil trimblen chicago, thank you for joining us on after the bell, we'll see you tomorrow. lou: good evening tonight, we'll hear from president trump and his coronavirus task force. last night they delivered a sobering projecttion. that wuhan virus contagious could kill between 100,000 and a quarter million americans. in the past 24 hours, the death toll has risen dramatically. the virus has claimed lives of 4500 americans now. there are more than 200,000 confirmed cases in america. as we await the president, and his team, we'll bring you up-to-date on a number of important