business hi chris lufthansa c.e.o. saying we're talk about the future of aviation here that's at risk i mean can we really say at this point what this crisis needs for the industry. i think it's pretty significant when somebody like casa spore that has 30 years of experience in the industry under his belt use these sort of words to address the problem he said for weeks nobody wanted to fly now nobody can and as we just heard in the report those times has now scrapped 95 percent of its service that has grounded hundreds of jets it has slashed working hours suspended its dividend and they're not alone in doing so there are many more carriers telling their staff to stay at home they're more governments coming up with financial aid because what they're looking at is is a huge problem because as these countermeasures to fight the coronavirus are put into place and are likely to stay there for months they're going to hit the very idea of the business model of the 80 and the asian industry equally long and parsons who also sa

chris watling, ceo of longview economics. this is bloomberg. ♪ guy: we've got some bricking news coming out of the airline sector -- some breaking news coming out of the airline sector. lufthansato reduce capacity by about 50% on the coronavirus. this is an industry that is clearly going to feel a lot of pain as a result of this. we are now seeing cases starting to crop up within the airlines. we've got problems at heathrow. inevitably, this is what is going to happen. these are travel hubs, obvious hotspots. in terms of the way this is going to be managed, i think it is going to be fascinating how governments and airlines work together. i was talking earlier on about the slot issue. you don't fly an airplane, you lose the slot. let's get a sense more broadly about what is happening with these markets. we are joined by the head of our markets live blog team, mark cudmore. give us a sense of what is happening. actually, we will do that in just a moment. vonnie: just to jump in here, abigail doolittle has a complete look at the markets. abigail: another brutal day here for markets around the world. the s&p 500 and the nasdaq down almost 2%. a bit of a bloodbath continuing. howev