white rebound after one of the worst days of trading in history and this is the one business show you can't afford to miss and fairmont and i'm branch aboard washington coming up stocks 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. people lobel virus pandemic slams market supply lines and manufacturing are also taking a major hit we're going to analyze that disruption an auto manufacturing we have a truck show for you today for let's go right it. continues to spread worldwide as president trump just moments ago the cleric a national emergency for the united states to unleash the full power of the federal government that 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 amount 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 think all health workers around the world and announced europe is now at the epicenter of the coven 1000 pandemic. more than 132000 cases of cold 19 have now been reported. from 123 countries and. 5000 people have lost their lives a tragic milestone. europe has now become the epicenter of the

pandemic wheezes more reported cases and there's this than the rest of the world combined apart from china more cases out of now being reported every day than were reported in china at the highest of its epidemic. this comes as top health official for the trumpet ministration dr anthony fauci 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 covert $1000.00 response nepal's

government announced it's shutting down mt everest and it's canceling all climbing permits through april 30th china had already canceled expeditions on the tibet side of that mountain meanwhile in greece the olympic torch always late in a limpia took place on thursday but the torch relay is temporarily suspended due to large crowds 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. many measures being taken by years so many governments in the sororities around the world to contain the virus and now 19 weeks before the games. are also making good use of these time

of these 19 weeks so we're in sport to we are fully committed. really encouraging the athletes to go ahead with their preparations with qualifications. to lose steam and then we will only come to 2 fools to grade the 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 987 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 coronavirus 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 kids being 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 know the racing you know all of the losses for the week but what is significant up. 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 a 100 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 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 we're 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 that 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 2 of 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 the row interest rates they was more liquidity they won 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 10 percent you'll bring us back 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 who that is being conducted it just seems completely nonsensical and it doesn't seem to be based in reality at all boom bust co-host ben swan 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 spot with saudi arabia this was over oil production cuts the ruble and russian stock fell following president trump speech on one seen 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 in shanghai the composite is down for the week saw a sharp decline on friday alone it was able to pick up just a little bit not by much and ing on

a 4 percent decrease than in hong kong where the hong sang reached a bear market it plunged as much as 7.4 percent at one point on friday morning right 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 all 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. 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 shares and africa you guessed it also down for the week now over to brett for europe and the americas they use so much there it's more of the same as the w.h.o. now says europe is the epicenter of the coronavirus after things have calmed down in china in france the cac is down roughly 15 percent on the week as the government is now taking further precautions to limit the spread of the virus or oil and gas company total essay took one of the biggest hits down 33 percent as oil had just a terrible week as sarah just mentioned now in germany the decks so a 14 percent decline 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 stock plummeted more than 20 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 footsie was across 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 the 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 for they're all down and as sarah 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. on the s. and p.

was triggered i believe 2 times 2 times this week so looking at big players in tech you get 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 energy 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 at the global virus pandemic slams markets. and manufacturing are also taking

a major head going to analyze the destruction and auto manufacturing jobs. have been impacted but a break here the numbers that. you are. the 4.

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playing. very well welcome to you watching us and see us. special times require special recording of course this report has been anticipating so much of what's going down around the world not a big surprise for those of you who've been watching. for so many years. 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 relief light hisor who has a lot of 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 automakers are asking for assistance as sales fell in the month of

february by 79 percent due to the ongoing coronavirus pandemic now this marks 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 a mission requirements however a representative from the organization said they do not expect all measures to be taken into account now the c. am 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 and 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 this 79 percent decline is massive and 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 trading at full capacity now

manufacturers throughout the world rely on china for parts this has been going to work from home it 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 be 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 sara because when you talk about n.b.a. players all you have to do is get 5 of them behind the controller that could take care of that they could 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 sports an absolute it's

a great opportunity i like that this professor i mean obviously teaches gaming and he's about twice 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 dot 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 my 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 is really more based on what they want to sell us and was

necessarily good for the pet turns out 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 a very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats to 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 not step up and do it yourself. time after time called parishioners repeat the same mantra sustainability it's very important it's excel or it transitions to sustain it. transport sustainability. the more equitable and sustainable. they claim their production is completely harmless . companies want us to feel good about products while the damage is being done far away this is just going to. underscore.

to unleash the full power of the federal government that the separate today i am officially declaring a national emergency the u.s. steps up its response to the spread of the coronavirus following countries across europe and asia. ministration also seeks to restrict medical imports from china which could cause prices in the u.s. . and also the news to base hosting u.s. and other coalition forces near baghdad is struck for the 2nd time in a week leaving 5 injured. pm saturday night welcome.