for you today so let's go and dive right in. the corona virus continues to spread across the world as europe and the united states prepare to see a sharp increase in the number of cases italy continues to enforce its walk down of some 60000000 people with 1000 new come from cases the european union per president's met with prime minister is via video conference on tuesday afternoon to coordinate efforts to combat the virus this comes as chinese president xi jinping made a visit to one china this was his 1st time since the start of the outbreak china recorded its lowest numbers of infections there were just 19 and they were all in will han speaking to doctors behind a screen she thanked some of the medical workers. you are wearing protective clothing so i can see your real faces. but in my heart you are the loveliest people in the world so what you should do now is to firm up confidence

let's firm up our competence together we will definitely win the battle. and we'll win and china will win. meanwhile iran struggling to contain the spread there have been more than 7100 active and at least 237 people have died that number is believed to be much higher now unlike italy and china iran has not placed anyone under quarantine the u.s. is also working on how to combat the spread of the virus and vice president mike pence announced insurance companies have now agreed to cover co-pays per coronavirus testing. please you reported as you requested mr president the insurance companies here. for today. to waive all co-pays and coronavirus testing. extend coverage around our. you know your benefit plan and your direction here in america last week already made clear to medicare

medicaid beneficiaries the coronavirus testing and treatment would be covered these private carriers extended as well currently the us reported 761 cases the death toll now at 27 but the number is expected to skyrocket as close to 1000000 testing kits will be administered across the u.s. by the end of this week. and a day after all had its worst day in nearly 30 years markets are on the rebound on tuesday the international oil benchmark break crude in the united states west texas intermediate jumped by at least 10 percent each at times throughout the day now the movement eased concerns of oil traders who saw it. 24 percent drop on monday following news of a breakdown of talks between key opec player saudi arabia and russia on lookers were hoping for a deal to cut production in order to stabilize oil markets ravaged by the coronaviruses effect on travel russian energy minister alexander no back said the

country has not ruled out further talks with opec and announced the ministry will meet with russian oil companies this week meanwhile equity markets in europe remained in the red although not seen as big declines as we witnessed on monday asian markets were up on tuesday and here in the u.s. markets started strong with the dow up nearly a 1000 points as president donald trump spoke about a possible stimulus for americans we are going to take care of it have been taking care of the american public and the american economy we are going to be asking tomorrow we're seeing the senate going to be meeting with house republicans which mcconnell everybody is discussing a possible payroll tax. cut for relief substantial really very substantial relief that's a think that's a big number and now just prior to broadcast we're hearing reports that the president pitched a 0 percent payroll tax rate to lawmakers in

a meeting tuesday afternoon as the day went on the dow dropped a nearly even and maybe a little bit in the red at times before ending tuesday up more than 1000 points so for more on the turbulence in the market we're joined by todd bubba horwitz chief strategist with bubba trading of course we need some sensible takes here for me but today let's start with this market turmoil we're currently seeing around around the world but really here in the states as well as they started with the dow jumping a 1000 points only to briefly go negative like i said and then closing up on the day almost a 1000 points what is happening with the markets. at a consistency at all lately. and well i mean the bottom line is we're going down ok the bottom line is the markets are lower we're going lower. or and you get these amazing rallies when people are trying to figure out where the bottom is and i think we've got a long way to go before you find that bottom but what happens is we call in the trade the rip your face off rallies ok so you had the market sell off the bears got

happy for a minute a little bit over short and the markets came screaming back this is all this will to soon fade when you see rallies like this this is a sign that the actual selling is not over yet and again i expect to see much lower prices showing up in the next few days and these rallies will subside and of course this is the it's the last stand that some of the bulls are trying to make to get in because they missed the entire move and of course typically that does show the top and that's what this kind of action usually produces is the top of the market which i think we've already seen well at there's always a reason there always reasons them place for this market movement that we've been seeing whether it's politics that intervention oil wars whatever it may be the coronavirus of today we saw markets move with the prospect of some fiscal stimulus in the way of the payroll tax cuts now proposed by president trump but do you actually see this happening and what it create any confidence in the market. well let's be clear about one thing 1st of the markets react far before the news ever

gets their markets are much more afraid of fission than the the new cycle because a by the time we hear the news it's already baked in the markets for the most part of the stimulus package certainly would help the markets again but the bottom line is as long as the fed continues to try to manipulate rates they're going to the markets are going to try to go higher but they're not they're seeing that there is some panic in the fed know when they made your emergency cut last tuesday that showed a sign of weakness by the fed not strength so what we're really seeing here is reaction and what investors need is a good excuse to do something so the coronavirus came and there was there 1st an excuse but the price action was in place long before. or investors finally start to get involved so again i think the stimulus package could help it might believe the markets are a while but the overall underlying economy as i've said for months now we're in the very early stages of recession and it's going to get worse before it gets better

and that's why you're seeing a lot of this action that's why you're seeing russia and saudi arabia trying to put the u.s. oil companies out of business and we're going to get to russia and saudi arabian oil here in just a minute but i did what a follow up on that regarding the fed i know it's when your favorite organizations you come on the airwaves and you talk positively about it many times by of course i'm saying this in jest but but we're talking about another possible rate cut we might see it as soon as next week president trump is out there tweeting he's saying bring the rates to 0 and something he's consistently studies even talk about negative rates now telling the move that far with the rate cuts i mean are we going to see this rate cut and you're saying it doesn't help anything anyway just makes things worse right. i agree i think the biggest terrible ok look i think president trump is 100 percent right with his logic listen remember he's thinking as a businessman and as a businessman a rate cut helps everybody and you know the bottom line is that you know we issue a treasury bond people are buying that money we're paying the interest rate so in

the in the going environment we could lower rates to a quarter because people are so going to flood their money into our try to market because every else is negative but in real market terms it shows a weakness because again we're the leaders we should not be cutting we should show the strength we have especially with the underlying economy but we're not doing that this is this is again why the fed should be put out of business because they don't understand nor they promote the free market system the markets will tell you a rate should be all they're doing now is that the banks get over leverage once again they're creating the next big collapse which oby another 40 to 50 percent haircut there's a market when it starts to come to this to start could be i don't know but it will be created. another major problem because they're allowing things to get over leverage meantime all the the predatory or higher rate lenders are making a fortune because the banks are buying all their loans because they're paying these

guys 3 or 4 basis points and the banks are to those loans which are not good loans to begin with so this whole things that eventually blow up in this mud this manipulation of money is a farce well before we go i do want to move on to to the oil industry where it rebounded a little bit on tuesday after the worst day in nearly 30 years now some of that is on the back of the russian energy minister alexander novak saying that moscow is actually open to talks with opec at the end of this month before the deal expires after 30 arabia no longer are starting to produce more oil as they have said break down what happened with the oil market in the last 48 hours for us. well 1st of all is it a bear market that's number one ok so the initial panic that came in on sunday night ok was it was based on the fear of what might happen there but again what that what they're trying to really do if you think that they they don't really have a plan here this is more public b.s. as far as i'm concerned they're dying to put the fractures out of business if they

could butcher or oil low enough ok where these loans get called and all this funding that's odd here to help these small fragger is continue to pump oil which way the united states the number one producer in the world that will create a problem and that's their plan there is no way to make a deal before and they're going to continue to try to keep the pressure on oil and push lower but the mean than the market itself once 60 has come straight down i mean we're down almost 40 percent from the overall highs and it looks like we go lower i'm sure we're going to test that $27.00 low again before we get any real kind of this is a natural dead kid bounce after a hard 10 or 12 point drop in oil you're going to see a bias i mean just like the stock market was going to say for how much we did know but we knew was that about. todd bubba horwitz fed chair leader and chief strategist above the trading thank you so much for joining us today. appreciate it . the coronavirus continues to have a major impact on the airline industry this is as major airlines are extending

waivers for changes and now even cancellations without that half the fee well airlines start down that year to date for multiple carriers include delta united and american airlines united and delta now they've both said they plan to reduce flights across their networks united airline holding c.e.o. oscar munoz and the president scott curvey said that they will not be taking any salary until at least june 30th southwest c.e.o. gary kelly plans to take a 10 percent pay cut but delta also announced that it would place a hiring freeze across the company offering voluntary leave options it's not bookings for as much as 25 to 30 percent as they expect their situation to become much much worse but american said it plans to cut domestic a possibly by 7.5 percent in april and international by 10 percent for the upcoming summer season now there's a rule right now across europe that requires airlines from outside the continent to

fly 80 percent of their thought if not they lose them to their competitors out there are empty airplanes taking the skies but airlines are now expecting a bounce back to take months if not more as the coronavirus continues to spread west i mean how ridiculous is this by the way when we're looking at a crisis that is happening and will prices are already down economies are faltering and we actually have and deeply is flying across europe just to meet a requirement so that way they can hold on i love the u.k. and they're having conversations as to whether or not this will continue because of the situation how is it that how is this even possible they're holding you know they're flying ghost planes not only like you said the the fuel costs but the cost of these empty seats and the. workers there are already cutting back and asking people to voluntarily take leave and they've been asking people are offering people discussions on early retirement i mean it is insane because we have no idea how long this crisis will last you know i mean as of right now we can just see it

spreading throughout the world and it's in to speed that it at some point will slow it will be able to move forward here it 2020 but at this point we really i mean i never could come back or not again there remains a lot unclear and unknown so absolute will keep on it time now for a quick break here because when we return it's no secret that many of the world's supply lines run through china but how will things fair with the recovery process we'll break it all down just on the other side of this program and as we go to break the numbers at the close. oh thank.

good food descriptions sound even for the owners so how to choose this pet food industry is telling us what to feed our pets really more based on what they want to sell us than was necessarily good for the pet turns out may not be a so for the best people believe we have animals that have you know diabetes in arthritis they have auto immune disorders allergies we are actually creating these problems it's a huge epidemic of problems all of them i believe can be linked to fairy simple problem of diet and some dog owners so heartbreaking stories about their pets streets the larger corporations are not very interested in proving or disproving the value of their food because they're already making a $1000000000.00 on it and there's no reason to do that research. in

the united states presidential candidates debate the future of the u.s. and the world max kaiser and stacy herbert dig into the burning questions of this election cycle one self big every week wealth tax student debt trade was corporate money universal basic income and more catch up with what's front running this sunday exclusively on r.t. . the presence of the force with the little tractor there was and is new york at the saw in the strictest i was sure of the truth we are still feeling a little stiff fulfill your words not only do they go for bush but i will push

through it so for they're sure going to get us no sure good to see. the impact of the coronavirus continues across several sectors as china is struggling to reopen factories across the country in just the last decade china has become the world's largest exporter and world bank data shows that in 20 teen it accounted for one 3rd of global trade of the technology sector took a big hit since the start of the coronavirus apple for example expected to lose more than $400000000000.00 but as of this week all but 4 of apple stores in mainland china have reopened this was after

a prolonged shutdown that was caused by the krona virus i phone maker foxconn reopened its doors last month and it plans to open at full capacity by the end of march the auto industry another sector that's facing the possibility of supply disruption many factories near will still remain closed honda's chinese manufacturing hub just in the southern city of gangs restarted partial production on february 17th but it's still running below capacity if plants don't go back to full production soon it will family lines across the world at risk a slow day. and at worst even shutting down so for more we bring in the last fed the poor john quality thank you so much for your time there is a lot to dive into starting with the global supply chain that's been disrupted we've already been warned several times time and time again since the start of this and as i mentioned china accounts for one 3rd of global exports for 20000 that is how long before we see china operating at full capacity and is there a timeline for this. i don't think there's

a firm timeline the timeline will vary by industry but i would expect it to be extremely unlikely that we will see a return to full capacity and full production before july of this year there are several reasons for that one is that all of the factories closed have to be recertified before they can be reopened secondly there's the concern that too precipitous a return to work bringing many workers who've been stranded in different parts of the country back together in a factory could result in a 2nd wave of infections and if there's one thing the chinese don't want to do it's to be too aggressive in restoring the economic engine the expense of a public health risk which no one wants to take and then i think the 3rd factor is now the level of demond that would be evident in the export markets in the west

because now we're facing a demond slowdown potentially in the western markets as a result of a consumer a lack of confidence or drop in confidence and that's going to affect the. as an employer imposed on these factories so it in a curious way the slowdown in western countries is actually going to run in parallel with the gradual ramp up. supply in china and now we've seen across several industries and companies have already seen disruptions in the supply chain as we just talked about the tech industry in the auto industry as just mentioned are big affected bigley affected as trump would say i guess but war importantly i want to know what are the effects that we're seeing that we're not seeing as of today that we can see in the future. well 1st of all you're absolutely right to

hone in on the auto and attack area there's definitely a shortage in terms of availability of electronics parts and particularly c.p. use this is definitely a problem and the absence of air freight availability mains that it's actually quite problematic for even though these items are high value low bulk items and therefore could be shipped by air on an emergency basis that the air freight is simply not available to do that so that's point 1.2 to take a different industry we've all read i think about the number of container ships that are as sensually sitting on idle in the pacific or al side of chinese ports on able to unload their cargoes or if their car goes can be unloaded the the warehouse capacity of the ports is jammed and there aren't truck is available

in many cases to move the good sort of coming into china to their destination points because the factories are still shot so what that means is that you have all of these containers and cargo vessels tied up off the chinese coast that has created a shortage of refrigerated cargo capacity on the west coast of the united states so you have a lot of california pharmacists time of year sending fresh fruit fresh oranges to china the not able to do that because the cargo capacity is simply not available to load those goods onto vessels to china so those goods those perishable items could end up in the u.s. supermarket. lowering drastically the price of fresh oranges for example

well i want to move on a little bit we talked about it earlier on the show about the early history of it can't we being impacted by this coronavirus how long do you predict these airlines will it will take for them to go back to doing business as usual and will we see increased prices in flights in the near future. well i think it's very problematic as to when the travel industry will recover and that's going to depend on when we see an evident peak in the number of confirmed cases in the u.s. with then a declining number of cases confirmed on a day by day basis until that peak is clearly reached we won't have visibility into how soon travel will be able to be resumed as normal i do saying that. the airlines you know clearly very very

problematic for them they are making a lot of changes in terms of customer service waiving cancellation fees et cetera you know that's not something we've seen a to repeatedly before and again their thing is not a safety issue even if they're lowering prices right now it's more are i rather thought economic problem if the fate of the issue as most people are concerned john called steen of the miami business school thank you so much for your your expertise . thank you. and tesla is planning to ramp up production of car parts at its $2000000000.00 factory in shanghai according to reports from reuters citing documents submitted to the shanghai government as of december roughly 70 percent of parts for tesla vehicles made at the china plant were imported from outside of the country no tesla is planning to add lines at the shanghai facility to make more battery packs electric motors and motor controllers according to those documents the battery cells will still be a source for about side of china with packs being manufactured on site at that new

factory tesla has that in the past they hope to localize their entire supply chain inside of china by the end of 2020 tesa stock is up roughly 4 percent on the day after ups and downs monday where the stock opened nearly $100.00 points down. u.s. regulators are clearing the way for a german semiconductor maker infineon to complete a $10000000000.00 takeover of america cypress semiconductor and last week the committee on foreign investment in the us a subsidiary of the treasury department they advised president trump to block the deal saying that it poses a risk to u.s. national security but cyprus said tuesday they were informed by the committee that there are no unresolved national security concerns with the merger now the deal will still need to clear several other regulatory hurdles including approval from china state administration for market regulation with the deal and finance hopes to become one of the world's top 10 semiconductor makers on the news and finance stock

traded on the german dax and it's roughly up 4 percent while cyprus saw gains eclipsing 45 percent on tuesday. and finally in an increasingly connected world customer reviews can help crop up local businesses in some cases even sink them but yelp there are of us and website which boasts roughly 178000000 unique visitors is trying to take on fraudsters who are gaming the system on tuesday yelp released its 1st consumer alerts report which lays out situations where the company's team found fraudulent reviews or activity the actions against fraud can range from putting alerts on to customers reviews or a business is page all the way to an outright closure of a user account so far hundreds of alerts were put on different business pages after

receiving positive reviews coming from the same ip address that means generally the same person or some sort of system there are 300 businesses even received alerts because the owner was accused of purchasing or encouraging these reviews now the op is gone as far as closing $550.00 user accounts so far. this year in relation to a ring creating fraudulent reviews you know i don't know about you sarah but i'm a personally a yelp user but i'm just sorry about this earlier and i asked who still uses yelp i actually rely a lot on google a travel advisory like you said it when you're overseas but the things you hope as a 178000000 user reviews but this reminds you of that episode of south park where basically the yelp reviewers became like celebrities in town everybody had to cater to them like they were some sort of big time restaurant critics so it becomes an issue and we've seen this time and time again and they also said that they address the situation in regards to sometimes politics plays into this you know if a company is has a political opinion and they move it that way so it can be

a huge issue and i out for those fake reviews hopefully i will keep an eye out as well let's that this time but you can catch boom bust on demand on the brand new portable t.v.'s available on smartphones to have a play on the apple app store by searching part of a t.v. or 3 must buy a t.v. by downloading the portable t.v.'s on apple t.v. and online are part of all the t.v. and you can also find a coronavirus tracker on the per portable t.v. app where you can get the latest news and information of the spread of the virus and that has always checked out on you tube dot com pleasure to bust our to see you next time. down on ones i. don't want one of the definitions you know i'm back in the. south. taking in the equal city

just. to get the family and then you're going to bring. at least that kind of. movie right away i mean there's nothing wrong with the. sound. just the same if one means a leftist i know the deep better learn this one tokyo find it is going to happen. does look worse because. if you. join me every thursday on the alex salmond show and i'll be speaking to the world of politics sport i'm show business i'll see you then.

what is the difference between embarrassing elder abuse joe biden certainly excels at the former and maybe is the big game of the latter we are told mention of mental health is off limits to what degree is the public the right to know. the.

u.s. general confabs washington is in the process of bringing at defense systems into iraq to protect american troops from the potential of rain and attack the socks off the 2 marines were killed in iraq during an anti i saw for a show a. lot of my peers who could potentially run again for president if the public votes for new changes in the russian constitution next month also i had. thought as riots on the fire that sweeps it in these prisons all to the states strict response to the spread of the cry to fire us.