despite all those measures it looks like the roller coaster ride continues for global markets to chelsea delaney is keeping an eye on trading at the from could stock exchange chelsea what will it take for aid package like the one proposed in the united states for those to support trading. well investors say these packages these responses just need to be significantly larger than this proposal by the u.s. is it is truly enormous it could be bigger than the stimulus than during the financial crisis but given the enormity of the restriction businesses people are going to be facing economists are saying this just might not be enough one formal former central banker in the us said they might need to double the size of this 32.5 trillion because a lot of people are expecting the economic impact of this to be short lived and it might not be this could last for months until next year even and the same is true in europe where there have been a lot of efforts to get money to businesses to get with quite easy to businesses but economists are saying a lot more effort needs to be put on getting money directl

financial correspondent chelsea delaney is at the frankfurt stock exchange the chelsea how are investors reacting to these devastating u.s. jobs numbers. well i heard some audible gasps when this number was released it's just job dropping and then more than a 1000 percent increase from the previous week and economists say this is really just the start because a lot of people who have been laid off haven't been able to file for unemployment benefits because phone lines have been down websites have been down just because there's so much demand right now. the market reaction has been a little bit surprising actually we've seen stocks about here in frankfurt the docs have been down about 3 percent now it's paired those losses it's up about 2 percent now and u.s. stock futures have pointed higher which i think just suggest people were expecting something a little more apocalyptic. and let's get your reaction also to some news from the g k consumer research institute which says the following it's reporting that the coronavirus pandemic has shattered german consumer confidence as millions sudde

have also had strong gains and let's go straight to correspondent for national correspondent chelsea delaney in frankfurt chelsea so not as bad as everybody is so what's the mood like in frankfurt what are you hearing. we're definitely ending on a higher note this week the docks is up about 4 percent here in frankfurt but it's been a brutal exhausting week if you think about monday when oil prices were down 30 percent the dax is down 8 percent and its biggest loss since $911.00 feels really like a lifetime ago i think over the past 12 hours or so about a half dozen central banks have come out with trillions of dollars in liquidity to help stabilize markets just started with the fed and we've just seen really a continued effort from central banks from japan to norway to sweden really stepping in to help keep it markets trading and we're also seeing a lot of governments getting closer to stimulus packages that would help businesses impacted by this and police who are laid off so the u.s. germany all talking a lot about getting closer to passing measures like that but just just a rebound like t

well for more i'm joined now by chelsea delaney financial correspondent in frankfurt chelsea good to see you tell us how nervous are the markets. i think it really goes beyond nervousness at this point markets have had one of the most dramatic opens and years at least since the financial crisis in some cases since sept and september 11th 2001 so there's really a lot of fear there's a lot of panic in markets today one example of that is a lot of stocks here in europe have taken a lot longer than normal to even open so a lot of stocks around even trading because there's just so much volatility it's really difficult to get them trading at this point i think this just came as a complete shock the 30 percent plunge and oil markets today investors haven't really seen that coming and they've been so focused on coronavirus them the impact that could have on the global economy which it will have a significant economic impact especially seeing the containment measures that italy has taken over the weekend to quarantine more than 16000000 people and now they have to also consider this oil price

preserve the smooth provision of credit to the real economy let's go over to frankfurt where chelsea delaney is standing by for us our financial correspondent chelsea tell me about the condit on exchanges it does not look like a good day now of the markets or are the really taking a beating before the e.c.v. decision and this really just it was a surprise and a big disappointment for investors they had pretty much across the board been expecting a cut and and the main interest rate and the e.c.b. did not do that so we're obviously seeing i shake out in the market right now but there had already really a lot of a lot of anxiety coming into this especially after the announcement of the travel ban on on europe last night so stocks that are really really have been under a lot of pressure and this disappointment it's certainly not helping tell me why why why why has the e.c.b. not cut rates. well we're going to hear more about that in the press conference likely from christine lagarde but. there is there is only so much that an interest rate cut could do and there are a lot of downsides for the e

and let's pull in andrea hang in singapore chelsea delaney in frankfurt and starting with you the financial fallout is immense but how bad is this hitting businesses across the region then it was a painful ledgett ing start to the week shares would dropping like flies over here in singapore those numbers dropped 6 to said to further down in more ways than one australia lost a whopping 7 percent now that this goes on and it only continues downhill while asian exchanges down so far when when we're hearing that the chinese are returning to work and the new cases of infection are subsiding. that's an excellent question ben but it really still is very much attached or linked to the corona virus and there's even talk that it needs a recession globally that we can cheer about the positive numbers that are coming out of china and you know that the fact is they still have some 80000 people still inspected to give the all clear what's even more worrying now more than what's happening in china are the numbers that are steadily and fast rising spreading rapidly across other countries outside of china n

to chelsea delaney of frankfurt correspondent how that german government response go down on the trading floor. traders have had a pretty mixed reaction to this it's obviously good to have merkel finally addressing the public after kind of being on the sidelines for the majority of this crisis and some of the things she said were a little bit concerning to traders including the statement that about 70 percent of people could get the virus. but the a lot of the other things she said were kind of what investors had been in hoping for over the past couple of weeks 1st that germany will do whatever it takes to combat the economic slowdown and then also that they could have some flexibility on their 0 debt the euro debt rule so i think that that was what investors wanted to hear but i think there's still a lot of skepticism just because what the german government has proposed so far to combat the crisis in the economic slowdown really by most economic measures that is not going to be sufficient a lot of economists are saying so i think a lot of investors just want to it want to actually see s

explain the recovery and discuss what might lie ahead and joined by our financial correspondent chelsea delaney in frankfurt and maria de matzos who joins us from brussels she's with bruegel a think tank that let's start with you chelsea what is driving that recovery especially on european markets. well for one just given the severity of yesterday's to clients it's not unexpected to see markets really taking a breather today but investors are very focused on stimulus right now so you mentioned the federal reserve earlier they're meeting next week they could cut interest rates again which would obviously help boost the economy of the e.c.b. here and praying for it is meeting on thursday and they're also expected to cut interest rates or do other liquidity measures to help businesses but we're also really seeing a lot of action on behalf of governments around the world and it's been a really crucial part of the response to the economic fallout because a lot of the concern has been that. the stimulus measures wouldn't really filter down all the way to consumers and what we're seeing from governmen

can withstand this shock i asked our financial correspondent chelsea delaney what she thought of the measures. well that's $37000000000.00 this is certainly well excuse me euro's at this certainly welcomed by investors but what's really important is the fact that the e.u. commission is going to allow flexibility and budgets and it within the e.u. e.u. countries are sort of with what they have to keep their deficits at a certain level they can't really go above that that's going to be a big problem for a country like italy which are ready has a huge debt burden about 130 percent of g.d.p. and now they are just facing nor missed economic challenge that they need to combat with a lot of what a lot of spending they need to keep money flowing to businesses they need to keep money flowing. also to consumers who are out of work right now and under normal rules they wouldn't be allowed to do that so the fact that they are signaling that italy and other countries are going to have flexibility is seen as a really crucial part of this part of this announcement to maximum flexibility from the e.

in frankfurt i think we're joined by chelsea delaney but 1st you are the e.c.b. rates are minus 0.5 percent do you think that will go down further so it's minus 0.5 percent is the deposit rate that banks receive or actually are punished by when they put deposits into the european central bank it may well be possible that the isa be goes a little bit further than that but the same time the scope and also the implications of these divisions are quite limited let's quickly pulling our markets correspondent in frankfurt at chelsea delay any who has joined us now chelsea what's the mood there in frankfurt ahead of this decision by the z b. nic it's going to be another brutal day here in frankfurt looking at the futures market the dax futures are down about 4 percent right now and this isn't really a reaction you would expect on a day when the e.c.b. is expected to come in with a with an aggressive stimulus program but one i think the that the news every night that the u.s. is going to be committing a travel ban on europe has definitely spooked investors but there's al

for more on this we're joined by our market reporter chelsea delaney in frankfurt chelsea that dax is stronger today is that a reaction to what the federal reserve is doing in the u.s. . well the main focus for markets right now is really economic stimulus measures to offset the impact of coronavirus on the one hand the failure of the u.s. senate to pass that 2 trillion dollar stimulus money bill to disappoint investors but the moves that the fed has made are really investors saying extraordinary if there really has never been such a big and wide ranging central bank stimulus package in the history of central banking they're basically ensuring that businesses of all sizes are going to be able to borrow money at very low interest rates and they're going to spend as much money as as necessary to ensure that they do have that would put it to you and that is giving investors more confidence that with businesses and the broader financial system are going to make it through this crisis intact so we're seeing europe story you'll feel the pulse of move today has already been trading up today

over to our financial markets respond in chelsea delaney in france and chelsea going by the data from asia investors here are looking yet another rocky week ahead right. it is looking like another brutal open for stocks here in europe for for taxes pointing down about 4 percent on the futures market the broader european stock and back. it's also looking to fall about 3 to 4 percent so. the markets here on earth are certainly looking to have another dramatic week this is really coming out there are significant moves by central banks throughout the world to really shore up the global economy the sat the bank of japan both moved overnight really interact a lot of the quiddity into the market and that doesn't really appear to be calming investors at this point i just briefly chelsey what about the measures taken by germany and the e.u. to support business. one friday germany announced an absolutely massive 502600 1000000000 euros worth of stimulus measures for for businesses and that was really received quite well by investors and businesses but again the moves were saying by by governmen

business correspondents following the story for us aaron tilton is with us here in our studio in chelsea delaney is over at the frankfurt stock exchange chelsea i want to start with you we've heard there are huge problems for the travel and tourism sector and it doesn't really seem like investors are taking that this well today. no it's been really a bloodbath for the for the airline industry and its shares in particular one of the biggest losers we're seeing here and frame for the dax is look tonsil which is down about 12 to 13 percent today so this is really coming after also a lot of volatility over the past several weeks the number of airlines. air france cayle and british airways all of them have lost about half of their market value over the past several weeks as the travel restrictions have started to increase and airlines are doing all that they can right now to really sort of offset these these impacts they're cutting staff they're cutting routes but it is becoming increasingly likely that they're going to run out of cash at some point soon ok so it's a dramatic situation for airlines e

financial correspondent to chelsea delaney at the frankfurt stock exchange welcome chelsea so big stimulus packages from the u.s. and from germany how are investors reacting. well busters are certainly relieved to see germany come out with it with really big strong aggressive you cannot mix stimulus measures the vast majority of this bill is going to be about 600000000000 euros worth of loans for struggling businesses there had been some concern coming into this that germany wouldn't be aggressive enough and providing stimulus to the economy given its history with being really strict on balanced budgets they're basically throwing that out the window and saying they're going to do whatever it takes they're also considering at this point a 2nd wave of stimulus in a few months. reopens that economists say if this is not a silver bullet the economy is still going to contract no matter what because we are and i mean basically a shutdown right now stay with us please joe it's not like your thoughts on this news for me kate consumer research institute they're reporting that the coronavirus pandem

chelsea delaney is following the story for us in frankfurt chelsea markets seem to be in freefall is there any end in sight. the sort of answer is no this is been one of the most brutal exhausting reaks for financial markets and history not just since the financial crisis but really ever and investors are having to face the fact that a global recession is becoming more and more likely because the measures that governments are having to take to control that pandemic really mean bringing activity to a halt and parts of the world and in the face of a crisis like that there's really only so much that governments and central banks can do in terms of cutting taxes and business loans to really offset the economic impact chelsea what can we expect when the european markets open today i wouldn't be surprised to see a bit of a stabilization today of declines we saw yesterday were just enormous that's axtell more than 12 percent here in frankfurt one of its worst days ever. markets do seem to be bouncing back a little bit they also had a really steep decline so yes her and the morning but until

the wall european markets also started trading and my colleague chelsea delaney keeps an eye on the trading floor in front for chelsea how are investors there holding up. well it has been a harrowing past week for investors and it's not looking any better here at the start of training trading here in frankfurt the dax just opened an account already about 7 percent just really a dramatic fall and we've seen a lot of a lot of news over the weekend of increasing restrictions on businesses on trade on travel that's going to have a significant impact but the measures that central banks and governments are putting in place to really help prop up the economy just aren't convincing investors the fad the bank of japan and all are coming out with a lot of a lot of easing measures that cut interest rates and governments also here in germany for example they have unveiled unlimited credit for businesses but investors aren't sure if that's going to be enough to offset the economic impact on my chest elaine in frankfurt thank you so much. now south korea has been among the countries worst affected by the

the global oil market that's really going to have to have a ripple effect on the global economy chelsea delaney in frankfurt thank you. for the number of corona carry virus cases around the world house and our surge of 107000 but there is some good news china has reported no new locally transmitted cases outside who bay province for a 2nd day meaning the number of new infections in china is now falling new infections are also stabilizing in south korea german efforts to contain the virus include calling for the cancellation of events expected to host more than a 1000 people in the u.s. a cruise ship with a number of infected people on board is due to dock in california the ill will be hospitalized and the rest taken off the vessel and asked to self quarantine. it's a league where the government is enforcing major restrictions on movement more than 16000000 people in the know will have been sealed off from the rest of the country no one's allowed to leave all and to certain areas without good reason for the current pain affects the region of lombardi and other northern provinces including the ci

percent and sydney collapsed by almost 7 percent and let's go right to our financial correspondent chelsea delaney standing by at the frankfurt stock exchange shall see we've really seen a dramatic move on the dax today what are things like where you are right now. well it's a very somber and tense atmosphere atmosphere here in frankfurt the moves that we've seen on the financial markets not just here in frankfurt but and stock exchanges around the world have been some of the most dramatic days certainly since the financial crisis but really and in recent memory investors are just increasingly worried about the financial cost of the virus which continues to spread and continues to force governments to take really painful actions including the virtual walked out of it a leave but also the news overnight of that ban on travel between the u.s. and europe that's really raising the prospect of a global economic recession particularly in countries that were already facing a lot of weakness such as italy and germany and the broader euro zone so this is all just really putting a lot of pressure on stocks

s chelsea delaney as the latest from the frankfurt stock exchange shall see when will we see packages like the one proposed in the u.s. finally support trading. well i think that that's a great question and it's clearly not supporting markets at this point the taxes are open here preferred it's already down about 4 percent and i think investors are looking at these packages that governments are preparing which are admittedly massive this one trillion dollar package proposed in the u.s. is the biggest effect financial crisis but they're saying this just isn't enough to combat extreme oppressive and economic slowdown we're seeing and the u.s. for example the white house has stimulated this could lead to an unemployment rate of 20 percent that's really an incredible number and they're just saying a lot of economists are saying that we may need to see packages 2 trillion dollars about twice the size are saying and here in europe the situation is even more difficult because the the proposals that governments have put out are much smaller at this point so i think investors want to see these

bankrupt so this is obviously just a brutal unprecedented situation for airlines our correspondent chelsea delaney reporting there from the frankfurt stock exchange thank you. well south korea has been among the countries worst affected by the new coronavirus but south korean businesses are working together to share the economic burden caused by the pathogen . so greenlit and lords and tenants are sharing the burden of weathering the decline in business caused by the corona virus outbreak with reductions in ruins large traditional markets especially needed the hilde. so there was some. we used to get an average 300000 visitors a day. but since the corona virus outbreak began we've been seeing less than 110th of our usual number of customers. business owners here have been suffering immensely so. not only domestic sales are affected as international trade has also dwindled especially for small export. as. korea has a competitive global legend the fashion industry and its products are high in demand overseas but now that foreign buyers kaante even enter korea coupled with slowing fabric shipments an

financial correspondent chelsea delaney joins us from the front germany's financial capital welcome however saw the markets. i think we've really moved beyond being nervous to really being in a state of panic markets have really had a very dramatic moves today a lot of stocks including stocks and middle eastern indexes saudi aramco saudi arabia's state owned oil company and u.s. futures all had to be halted because they were just too volatile to be trading right now so there's really a lot of a lot of panic and there's a lot of fear. coming into this week there had already been a lot of a lot of concern over the economic impact of coronavirus those concerns have really battered stocks over the past 2 weeks but. adding to that fear now is that the oil price shock of 30 percent decline in oil prices is really. historic event and that's going to add pressure on to the global economy. which sounds like bad news for the globe because. yeah i think i think there's very little good news for the global economy right now i think 1st and foremost coronavirus remains. the driving concern for the globa

and our markets correspondent is in frankfurt chelsea delaney is there for us hi shall see the dow seems to have come back a bit but the u.s. senate failing to pass a rescue package seems to have investors worried what is a picture there in frankfurt today. well stocks did open up quite a bit lower here in frankfurt the dax is down about 5 percent at the open but this news from the federal reserve that they're going to do on limited quantitative easing a limited buying us bonds has really helped spike this turnaround that you can see behind me on the screen that we've we've already seen a lot of action from central bankers including the fed they have an ounce trillions of dollars in support for markets and liquidity and there's been a lot of references to bankers in the bazookas but investors are saying about what the fed is doing is now bigger than a bazooka they're doing everything that a central bank can really do they're guaranteeing credit for basically the end tire u.s. economy at this point and we also did see the german government today the federal cabinet passed 156000000000 eur

and let's go right to our correspondent chelsea delaney she's standing by for us at the frankfurt stock exchange hi shell see good to see you so there's been some relief on european markets this morning but overall it's been a pretty rough 2 weeks so what are things like there today. well there is definitely cautious optimism heading into the weekend the dax is up about 55 to 6 percent but as you can see behind me it's getting increasingly quiet here at the frankfurt stock exchange and i think it's also important not to read too much into these these one day swings and the market the economic impact of the virus is going to be severe and we still don't know how severe it's going to be because we don't know how long the outbreak and the measures that governments are having to take to contain it are going to last but over the past week we've just been seeing so much activity on the on the behalf of governments and central banks we've seen $31.00 central banks come in in the past 5 days then cut interest rates governments preparing trillions of dollars worth of stimulus and that is helping

point to a worsening global situation now it's braincells it delaney in frankfurt chelsea the ducks drop significantly significantly again tell us more. it is another very dramatic day here and frankfurt the dax opening down more than 6 percent it's already at its lowest level since 2016 but an even more shocking statistic is that it's lost about 30 percent of its value since late february when cases began to spread out outside of china so that's just a massive or a share of wealth or german company is there this is really being driven by a number of bad news one is of course the news overnight that the u.s. is going to ban travelers from europe and of course that doesn't nation of coronavirus of a pandemic investors are also just still dealing with things like the drop in oil prices and there's just so much volatility and uncertainty but what investors are really feeling right now is that the global economy could be heading for a recession the measures that governments are having to take are increasingly dramatic and painful for the global economy and we've seen just business disrupted

let's bring in our financial correspondent shelter delaney in frankfurt morning chelsea what's the market's reaction to president trump's stimulus measures. i think there's a bit of disappointment and best reason to really been lauching on to this idea that there was going to be a big fiscal stimulus coming from the white house and i think what we're seeing is a much more divided response and this really just reminds investors that it's going to take a while to get people politicians in the u.s. to come together for something like this. the proposal that donald trump has put out there is to cut payroll taxes as you mentioned which are typically shared by employees and employers so it could help both both sides of the economy but it's very expensive to estimated to cost about $700000000000.00 which is. the cost of the bank bailout during the financial crisis and there's really no idea of how they're going to pay for that so there's really a lot of other proposals floating around and around right now things like cutting taxes for airlines increasing it's putting more people on paid sick leave