gina martin adams in new york on what the spread of the virus may mean. and in washington, wendy benjaminson on who will be in the spotlight in tonight's presidential debate. let me real -- let me lay out what president trump said in india. president trump: i've spoken to president xi and they are working hard. if you know anything about him, i think he will be in pretty good shape. and have had a rough patch i think right now it looks like they are getting it under control more and more. david: they say it looks like they are getting it under control. does it look like that way from where you stand? >> mike pompeo suggesting that if it had not been for the information suppression by china and the first place we would not be in the position we are now. austria, italy with 50,000 people under lockdown. in the spanish island we have people locked down in a hotel. deaths. 15 a big cluster of deaths outside china. also getting reports of an infection in switzerland and do not forget south korea. this is what is going on. it is about containment. people are tr

romaine: our thanks to gina martin adams and david joy. we want to bring you breaking news on wells fargo agreeing to on thellion settlement probes into consumer abuses. this is a settlement with the federal government in line with what most people have been speculating. the company has set aside pretty much this amount late last year for potential settlements. the company still under the growth cap imposed. you see the shares up modestly 1.5%. joe: michael bloomberg, the founder and majority owner of bloomberg lp, tweeting the company has identified three nondisclosure agreements signed with women to address complaints about comments he made and if break theirwant to nda's, they should contact him. from new york, this is bloomberg. ♪ bloomberg'se from world headquarters in new york, this is "bloomberg markets: the close." i am romaine bostick. stock bulls getting a wake-up call. joe: the question is, "what'd you miss?" romaine: a reassessment of the global economic impact of the coronavirus drives treasury yields to record lows. walmart's

tom: jon ferro says you have to ask gina martin adams a few questions. should we buy the dip? hink this is the end of the correction. we do still see the potential for further downside weakness. i think there is a lot of uncertainty out there, but we are still constructive on u.s. equities. we are still constructive on global equities. there are opportunities outside the u.s., too. i have not seen enough capitulation yet to suggest this is definitely the bottom. it is a buying opportunity for some. i think we are going to churn in a period of weakness to absorb a permanent loss of income for some companies. tom: way too much optimism this morning. thank you. laidler, thank you for joining us again. let me do a data check here. it is simple. equities, bonds, currencies, commodities, it is a little better today than i was an hour ago. -- then it was an hour ago. .e have a weaker yen we have a safe havens screen as well. we will get that up in a moment. gold, negative. in eight minutes, we are told the president of united states, more than anxious to get to a press conference and

gina martin adams and vincent cignarella, thanks a lot.id lebovitz of jp morgan asset management will be sticking with me. for all of the charts we use, go to gtv under terminal. browse the features, check it out. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." we begin with wells fargo. bloomberg has learned it is set to pay billions to end investigations into consumer abuses. officials announced the bank will be fined $3 billion to put in and to scandals that has led to billions of dollars in operating losses. now to goldman sachs, preparing for more unexpected legal costs. the firm bumping up the number from $2.9 billion last fall to $3.3 billion. the firm didn't identify the cases involved. it has been trying to rake free of criminal probes related to the malaysian 1mdb scandal that has led to three goldman bankers barred from the industry. tesla got the legal go-ahead to resume clearing for a forest in germany. blocked then carmaker from building a factory there. it avoids a lengthy delay for the project. alix: if you

gina martin adams in new york on what the spread of the virus may mean.gton, wendy benjaminson on who will be in the spotlight in tonight's presidential debate. let me real -- let me lay out what president trump said in india. president trump: i've spoken to president xi and they are working hard. if you know anything about him, i think he will be in pretty good shape. and have had a rough patch i think right now it looks like they are getting it under control more and more. david: they say it looks like they are getting it under control. does it look like that way from where you stand? >>