sigman in. a state of emergency has officially been declared here in the united states as markets have made a light rebound after one of the worst days of trading in history this is the one business show you can't afford to miss on fairmont and on branch aboard washington . trucks have seen a slight recovery following a devastating week of trading but investors are still reeling straight ahead we

break down the week that was in the markets and what next week may have in store. plus the global virus lam's market supply lines and manufacturing are also taking a major hit we're going to analyze the disruption in auto manufacturing we have a truck show for you today so let's go and dive right it. continues to spread worldwide as president trump just moments ago the clarity a national emergency for the united states. to unleash the full power of the federal government to this effort today i am officially declaring a national emergency. 2 very big words. the action i am taking will open up access to up to $50000000000.00 of. very importantly for important and a large about of money for states and territories or localities in our shared fight against this disease in furtherance of the order emerging every state to set up

emergency operation centers effective immediately. a national emergency 2 words indeed now meanwhile the world health organization thanked all health workers around the world and announced europe is now at the epicenter of the coven 1000 pandemic more than 132000 cases of corbett 19 have no been reported to deadly chill from 123 countries and territories 5000 people have lost their lives a tragic milestone europe has now become the a.p. center of the pundit make wheeze more reported cases and days is done the rest of the world combined apart from china more cases of now being reported every day than were reported in china the highest of its appeal to me.

this comes as top health official for the company ministration dr anthony foushee said the disruptions from the corona virus could be prolonged and last up to 8 weeks adding it's going to get worse before it gets better the death toll in europe continues to rise as spain declares a national emergency and more countries are joining in shutting down schools there implementing travel restrictions and taking other emergency measures in hopes to avoid becoming the next italy france is also taking some action french president manual mccrone took to twitter and announced president trump and 7 other world leaders are planning a virtual conference next week to discuss the coven $1000.00 response nepal's government announced its shutting down mt everest and its canceling all climbing permits through april 30th china had already canceled expeditions on the tibet side of that mountain meanwhile and greece the olympic torch always late in the limpia

took place on thursday but the torch relay is temporarily suspended due to a large crowd that showed up but will still be delivered to tokyo organizers on the 19th of march president of the international olympic committee thomas batch said athletes are still encouraged to continue preparations for the 2020 tokyo olympics while working with authorities to take the necessary measures to contain the coronavirus the reason many measures are being taken. so many governments and also richie's roam the world to contain the virus and no 19 there we were before the games and. also making good use for these time over these 19 weeks so we are in sport we are fully committed heimer are really encouraging the outs lead to go ahead with their preparations with their qualifications for. to lose steam and then we will only

come. to great olympic games. and in what has been a crazy week for markets worldwide there are now renewed calls for central banks to intervene and to restore market this after president term statements on the status of the federal response to the krona virus was not enough to prevent the worst day on wall street since the 187 crash and of course he spoke again on friday and markets and the dow specifically here in the u.s. actually spiked up to 2000 points of an increase just on the day so it has been a crazy week and did at this point the investors worldwide are calling on governments to intervene and help stop or at least slow the market crashes so what can central banks do to call markets joining us now to discuss this blue bus co-host and of course cryptocurrency analyst ben swan ben thank you so much for joining us today and you know when we talk about federal bank response as well i mean the bank of canada just friday afternoon as well cut rates to point 75 percent

so there varies a lot of action going on and it's moving so so fast as this number one economic crisis if that's what you want to call it is going on as well as the pandemic of the crow virus so bent the fed announced trillions of dollars worth of new capital injections to calm treasury bill liquidity issues and boost economic activity amid coronavirus risks we know you're not a fan of central banks propping up markets could what we have seen over the last few days doesn't the fed have to do some more and what exactly are they doing right now to prop markets up yes so i don't think the fed is the answer certainly but you are correct that markets right now feel like they need to help in a lot of ways that what we saw on friday afternoon was very interesting you said here in the lead up up almost 2000 points for the dow 'd on friday 'd which is a huge job about 10 percent back up still no the racing you know all of the losses

for the week but what is significant up. well that were a couple of things the president came out and he said on top of trying to reassure the public that they're working with google which that's a whole issue working with google to try to create a website where people can get on and monitor what's happening while working with leaders like the c.e.o.'s of wal-mart and c.v.s. and walgreens and target to be able to establish places for people to go and be tested for drugs virus which has been a big issue he also talked about the strategic petroleum reserves and buying a large amount of oil now that indicates that oil prices will probably get some relief and that will be good for the oil market which has been really hurting he also talked about canceling interest on student loan debt on all loans held by the federal government so it'll be interesting to see how that affects markets as well but we did see kind of a big rally at the in the friday now coming back to the federal reserve next week we're expecting to see the fed essentially take a look at whether or not they're going to go ahead and drop interest rates to

nearly 0 with appears that that's what's going to happen that we're looking at a b.p. about a $100.00 b.p. drop so about base point drop of oil of $100.00 which would really take us down to 0 that's probably where we're going to be that's what goldman sachs is saying of bank of america they're both calling for and both expecting that's a huge huge move right there by the feds if that and up happening but i do want to talk a little bit about the numbers like you said we're seeing them skyrocket or at least double basically speech they went down toward the beginning then spiked about 2000 points toward the end of his speech he's still saying the market will be just fine at least as of yesterday when he spoke to reporters saying that we're going to come out of this bigger and worse still up ever sence from what when he started his as presidential after the elections now sure after he took office but i do want to ask you is the president just spinning and hoping that things work out fine or is this something that's actually going to happen. well look i think the president 1st of

all has to recognize that corona virus is not the cause of a lot of this there are supply concerns that we talk about on the show all the time there are issues with what's happening in terms of the market and liquidity and all that but the coronavirus is not causing markets to crash the over leveraging of markets the fact is the fed has been pumping up the markets for so long that is where you have this over leveraged bull market for 12 years that eventually it has to come to an end and so when the president says don't worry we'll be fine book number one we're still up about 20 percent from where he took over but at the same time you have to recognize you can't go on indefinitely short term i think the president's in a good spot because i think ultimately he's right when you say things that wall street wants to hear when you say we're working with the business community when you say that we're going to start you know dropping interest rates even more and we're going to start the government's going to start buying up in certain key industries to help them out that's going to sit in the numbers up no question about

that but the long term problem remains which is that we have an over leverage market and we have a fed that in the next week within the next $7.00 to $10.00 days is going to pump you know trillions of dollars in the muck about $1.00 trillion dollars being pumped in that our market right that is unsustainable exactly it's unsustainable and bad i mean it just seems like when we talk about unsustainability of the market i mean you look at this week we have you know a 5 percent again a 10 percent decline a 5 percent to 7 percent gain of 15 percent decline and now today you're back up 12 percent i mean it's just unsustainable completely is it not. well it isn't sustainable and what we're seeing to the fact that we have these highs and lows that are so dramatic and my suspicion is and i can't prove this but my suspicion is is that a lot of this is a game that's being played that that wall street is intentionally dropping these numbers because then they can force the feds to react they can force the fed itself

to react as well as the feds to react and to give them what they want they want 0 interest rates they was more liquidity they want government purchases of what they're doing and so they're actually i think that wall street's manipulating the market now and say hey we're going to call your bluff if we drop by to percent you'll bring us like up by 20 percent we can drop it load we can rebuy it the next day and it just seems like like we're living in upside down town right now with the way really that is being conducted it just seems completely nonsensical it doesn't seem to be based in reality at all boom bust cohost benz while we could go on for ever talking about all of the things that are happening right i thank you so much for your time. another turbulent week for the global markets as the coronavirus continues to spread the indices remain volatile and they're all lower for the week many stocks even now in bear markets let's start in moscow where the mo extend for the week

after a sharp decline on monday following the oil spat with saudi arabia this was over oil production cuts the ruble and russian stock fell following president trump's speech on one thing night when he issued the travel ban on europe the r.t.s. index fell below the landmark 1000 point level for the 1st time in more than 2 years asian indices were all slammed friday following the u.s. market plunge and much like wall street every major financial market in asia except for china is now firmly in bear market territory and shanghai composite in down for the week it saw a sharp decline on friday alone it was able to pick up. just a little bit not by much ending on a 4 percent decrease than in hong kong where the hung saying reach a bear market it plunges much as 7.4 percent at one point on friday morning before coming back up to a loss of 4 percent on the week but the blue chip benchmark fell 20 percent from the recent high mark last april making it

a bear market now in japan the nikkei also in a bear market down for the week indices saw as much as 10 percent decline again on friday alone this was the largest intraday drop since april of 1990 when the market lost trillions by the end of that year and now over to the sensex in india where the stock index is down it's an extremely volatile volatile and on the week on friday when the nifty index was down 10 percent it prompted a 45 minute trading halt not only did we see that in the u.s. but also in india how did sharpest one day recovery though the sunset did go up by over 5000 points and now over to australia where the a.s.x. also reached a bear market with a 13 percent decrease on the week on thursday it lost about $130000000000.00 with an 8 percent fall on its worst day since october of 2008 that was after the collapse of the u.s. investment bank lehman brothers and finally the all shares in africa you guessed it

also down for the week now over to brant for europe in the americas so you so much . more of the same is the w.h.o. now says europe is the epicenter of the coronavirus after things have calmed down in china in freights the cac is down roughly 15 percent on the week as the government is not looking for the precautions to limit the spread of the virus or oil and gas company total took one of the biggest hits down 33 percent as oil had just a terrible week. now in germany the decks so 14 percent of you remember earlier this week chancellor angela merkel she said that 70 to 80 percent of the country's population could be affected. by the virus bank stocks plummeted more than 28 percent on the week as markets lead in london the footsie it's also down on the week down 17 percent again the oil sector feeling the pain in the foot see what's cross the atlantic and go to the best in brazil now had

a rough week as well down nearly 20 percent on thursday alone having the worst day since 1998 but friday was positive with gains exceeding 8 percent oil giant petrobras it is generally struggling down more than 50 percent were to go north to mexico b.m.v. 1st it's down about 5 percent on the week so we're going to move up to the u.s. here where the 3 major indices including the new york stock exchange as well so that's 4 they're all down and as sara was mentioning there we are in bear market territory the dow alone on thursday had its worst day since the crash of 1987 and the circuit breaker on the s. and p. was triggered i believe 2 times 2 times this week so looking at big players in tech you have google facebook apple and microsoft all taking 15 percent declines on the week in banking j.p. morgan bank of america and wells fargo all falling by more than 20 percent nothing

really positive to report out of american markets at all this week let's move up to the great white north in toronto the ts sex is down roughly 14 percent on the week and if you transport company and bridge is down more than 30 percent as markets real throughout the world canada is hoping for a better news next week as the bank of canada on friday made an emergency rate cut 2.75 percent as the news of all of it will be interesting to see what can be done to push markets up in the coming weeks and weeks and that is your weekly global market walk. time now for a quick break but hang here because when we return i think global virus that makes . bylined and manufacturing are also taking a major head going to analyze the destruction and auto manufacturing and just how change happened in fact it has been fun to play here the numbers out of the.

special times require special reporting of course the kaiser report has been anticipating so much of what's going down around the world it's not a big surprise for those of you who've been watching us for so many years. you see every passage of the death of something all passages involves some kind of conflict in between where one is trying to reconstitute the old way of doing things but it doesn't work as a service i'm often working with people in those in between so again the key is how

do i find my path through all of this and where do i find minister in those moments we have to start beginning to trust what is coming from what's in the. social issues from which to deal. with. for the for loop of short term food for. thought. you have to try to. do it because believe global one 'd was going to have simple truth in saluting your voice your ideals of us have looked like your office moving useful to you the

feeling you're fighting with the folks working out. the less fortunate about photos of multiplication. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics or business i'm showbusiness i'll see you then. a bipartisan push where lawmakers are now urging the trumpet ministration to roll back at least some of the existing tariffs on china some of them actually remain after the phase one trade deal and it was signed back in december there are still 25 percent duties in place on some $370000000000.00 worth of chinese goods imported

annually florida representative stephanie murphy pitched the idea to u.s. treasury secretary robert light hisor in a private meeting this week saying it's something the administration has the ability to do and would have an immediate economic impact and help stave off a global recession she's urging the trumpet ministration to consider removing all tariffs on both chinese and even european goods in an effort to provide some economic relieve the light hisor who has allowed the trade deal negotiations with china was not receptive to the idea but earlier this week the u.s. already removed some tariffs on a few goods that are imported from china this includes latex gloves face mask sanitizing wipes and anti-microbial products that are used in medical exam rooms. and chinese auto makers are asking for assistance as sales fell in the month of february by 79 percent due to the ongoing crow virus pandemic now this marked the biggest ever monthly decline in auto sales in the world's largest auto market the

chinese or the china association of automobile manufacturers says they would like to see cuts to the purchase tax on smaller vehicles measures to support sales in rural areas and easing on them. requirements however representative from the organization so they do not expect all measures to be taken into account now the cia. said it also expects sales will pick up in march as officials say the worst is over in the country but does not expect things to return to normal until the 3rd quarter of 2020 for more on this and how the auto industry is fairing amid market turmoil due to the coronavirus we are joined by lauren fix the car coach lauren it is a pleasure to have you wish it was under better circumstances you know 79 percent decline is massive it really sales in china had already fallen for 20 straight months do you really expect sales to pick up in the coming months as the world is still very concerned about this virus. right well thank you brant and i think one of the

biggest things is that people are back to work in china so they're not on all shifts right now most are on one and 2 shifts the 3rd shift supposed to be coming on line hopefully next week that means people are starting to make money again and they have to make up for that loss why they were sitting at home whether they got paid or not because obviously that kind of gives you uncomfortable nyssa about spending money in your economy are ones who will start getting more open to spending money again i think the car sales will pick up a bit it is rock bottom worst ever had in china with only $310000.00 vehicles sold in the month of february so once people start purchasing vehicles again i think the total for the year of 2020 going to be off by about a 1000000 which is pretty equivalent to what we're going to see here in the u.s. factories in the epicenter of the outbreak in china like you mentioned are just starting to reopen but obviously some most are not operating at full capacity now manufacturers throughout the world rely on china for parts this has been mostly and

in the recent decade how much has this situation affected the supply chain for other automakers. with syria right i mean it is a huge impact on all auto manufacturers whether it's aftermarket parts and components so you're looking at a company like brembo who makes breaks for a lot of the vehicles that are out there if they're missing the seal or a piston and they have the castings they still can't build these components so the impact is huge and you me not see it right away so you're seeing manufacturers shutting down production because they don't have parts but once they get up and started they still got to get those parts from the factory to the manufacturing facility that could be a $6.00 to $8.00 week leeway and with that gap of time that's where i think we're going to see the impact of slow moving sales and it's going to take a while for all these parts components to get back up to speed let me ask you this i know that a lot of closures are still around the area which is a huge industry where the car manufacturers are how how exactly to affected as well and is that going to further than delay these the delivery of these parts. right

you're right it is going to further delay they call it the rock candy mountain because literally they make every thing in the will hunt district and because of that fact if you're looking for an interface for your car as i said in the past you cannot sell a vehicle that's only built with 99 percent of the parts so that's going to be a delay where they've got production line stopped i know they've already got lamborghini stop production i know that toyota is stopping production certain product lines i know other other companies are as well and they're doing this because if you don't have all the parts of components you're going need another supplier and i think that's going to do is potentially cause other countries to be able to pick up some of those sales as a backup supplier so this doesn't ever happen again right now lauren i want to ask kind of a broad question because we talk about the decline in china and you said you know that 1000000 sales being down 1000000 sales is going to be right along with the rest of the world but how are sales doing throughout the rest the world as we deal with this pandemic. well it depends on the country i mean obviously italy is shut down right now literally closed every shop every store so nothing's been produced

so if you're building sort of lamborghini or ducati motorcycles which i'm building belong yeah nothing's being sold and no one's got money because they're all sitting at home and work retail or you wait tables if you don't have any cash flow if you work at a place that you can work from home that's a different story so i think the impact on a global basis is going to be quite dramatic and we're going to see that impact not just in automotive but in other categories such as tech as well because all of this again is connected i mean so many sectors are being affected like the tech world is another major one but i want to end on this a lot of cancellations on a lot of shows a lot of conferences around the world now the auto show in and geneva being cancelled due to the coronavirus this week it was announced that the new york auto show would also then be postponed how important are these events for the industry. oh it's huge and actually it's impacting me as well typically on met all the trade shows on a global basis we go out and we drive cars we talk to executives we get the opportunity of the 1st person in the vehicles. that we can report on it so that your station

and other stations can get this information but if we don't have any of that and manufacturers are telling everyone to work from home and this trade shows are shut down and they cleared our schedule there's not really going to be an impact so there's no information going out people are going to be buying cars lauren fix the car coach thank you for your expert analysis will have you back really soon. thank you. then with the n.b.a.'s decision to suspend the current basketball season after player tested positive for the coronavirus one team will play their season games in the virtual world in a twitter post the phoenix suns announced they would continue to play their scheduled games in the n.b.a. 2 k video game and stream them live on video game streaming platform twitch t v now it's unclear how the schedule game against the day it was mavericks will work will they play against ai controlled players will it be against the actual mavericks will they call in some pro n.b.a. 2 k league players to join them at this time we just don't know but we're looking forward to finding out next week now twitch is becoming

a place to go amid the pandemic as more and more people are staying indoors in fact a professor at n.y.u. game center taught his class about twitch on twitch as students were allowed to go to class professor and developer robert yang took to the platform earlier this week and even had viewers who had nothing to do with the class as you can see in the video yang believes teaching on twitch is a terrible idea but whether for it anyway now i find this fascinating sarah because when you talk about n.b.a. players all you have to do is get 5 women behind the controller that could take care of the play as themselves and they could entertain people and we're also good interaction with the players that we don't see in the very competitive nature of real world sport is that i think it would be so interesting i mean just to see how far we've come to be able to do things like this you know with ai technology not only that but even with online classes for professors to make it easier but at least they keep people entertained and that's kind of what we're looking at at this point without for an absolute it's

a great opportunity i like that this professor i mean obviously teaches gaming attitudes about twitter but to do it on which t.v. at work that is very good well that's it for this time but you can catch the bus on demand on the brand new portable t.v.'s available on smartphones do google play on the apple app store by searching portable t.v. or stream us by your t.v. by downloading the portable t.v. apps on apple t.v. and online at portable the t.v. and you can. also find our crowbars tracker on the portable t.v. app where you can get the latest news and information about the spread of the virus and as always check us out you can back up by school bus r.t.c. next time. descriptions sound up a tasing even for the owners so how to choose the pet food industry is telling us what to feed our pets really more based on what they want to sell us than what's necessarily good for the pet turns out that food may not be as healthy as 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 tom's and i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats the larger corporations are not very interested in proving or disproving the value of their food because they're already making it a $1000000000.00 on it and there's no reason to do that research. budget we talk about trouble he's gonna demystified this whole political space if you were clear before like these folks are no better than us so you know i you know you can reach out to friends say you know take responsibility maybe run for office at the end of the day you know i don't see how we were a lot

a system where these people get away with you know misrepresenting us why to step up and do it yourself. to unleash the full power of the federal government of this effort today i am officially declaring. emergency the u.s. steps up its response to thwart the spread of the corona virus following countries across europe and asia. while the trumpet ministration also seeks to restrict medical imports from china which could cause prices in the u.s. to surge. and a base hosting u.s. and other coalition forces near baghdad is struck for the 2nd time in a week leaving 5 people injured.