here are the details is mark crumpton. rk: global health officials say the coronavirus pandemic is likely to increase "considerably." the world health organization says overnight reporting showed 85% of the new cases were being reported in europe and the united states. a spokesperson also cited what she called a glimmer of hope in hard-hit italy after two days of slight declines in the number of new cases and deaths. health officials warned it is too early to call that a trend. italy is considering imposing fines of up to $3200 for those who violate the nationwide lockdown orders. police may also seize the vehicles of anyone caught violating the restrictions. prime minister giuseppe conte has band movements inside the country and shut down almost all industrial production. the current find for violations is about $200. in italy, prime minister modi has imposed a three week long , nationwide lockdown to contain the spread of infections. the prime minister said "for a few days forget what it means to go out." he is trying to

we go to mark crumpton with "first word news." mark: a global teleconference will be led tomorrow to decide how to handle the threat posed to the global economy by the coronavirus outbreak. bloomberg has learned they will be joined by central bank governors. said thenance minister ministers need to ensure their responses are as coordinated as possible in order to be effective. the british prime minister, boris johnson, warns the virus outbreak will be more significant the u.k. in the next days. tomorrow, the prime minister's government will put out a plan to fight the disease. the united states is expecting more cases. iran and south korea reported a jump in infections. the u.s. supreme court says it will again consider whether to strike down obamacare. the justices will hear the democratic appeal seeking to reaffirm the affordable care act's constitutionality. the drop administration is banking -- backing republicans to validate the law. -- to invalidate the law. a ruling is likely in the first half of 2021. in israel, prime minis

let's check in with first word news with mark crumpton. mark: president is defending his decisions which send social distancing guidelines through the end of april. the president said the worst that could happen is you do it too early and it comes back. the government's top infectious disease expert warned the u.s. could see up to 200,000 deaths from the pandemic. in new york, enable hospital ships with 1000 beds arrived to help relief. a grim prediction from the german government. they say the coronavirus pandemic will likely give the nation its worst recession since the global financial crisis. the expect output to shrink by 2.8% but that is only if restrictions are lifted. the chinese city of wuhan, with the outbreak began, is taking steps to return to normal. opened0% to 80% of shops doors for the first time in two months. many imposed limits on how many people could enter. shopkeepers set of dispensers for hand sanitizer and checked customers for signs of fever. the bus has resumed and automakers and manufacturers are getting back to w

i'm mark crumpton. this is bloomberg. ♪ >> july from bloomberg world headquarters in new york, i'm taylor riggs. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences.

it is time now for first word with mark crumpton. fda has been told by president trump to see if it can expand the use of an experimental malaria drug to treat patients infected with the coronavirus. at a press briefing today, the president and the head of the fda gave apparently conflicting comments about the availability of the drug. mr. trump said the medication had been approved and could be prescribed to patients. minutes later, fda commissioner stephen hahn said use of the drug would be in clinical trial to see if it works, and if so, what dose would be safe and effective. a grim milestone for italy. it has surpassed china as the country with the most coronavirus deaths. more than 3400 people have died. more than 41,000 have been infected in italy. italy has been under a nationwide lockdown since earlier this month. the worldwide death toll crept were 10,000, as the total number topped 200,000, including 85,000 people who have recovered. the pandemic continues to hit iran hard. officials say another 149 people died, bringing th

or bloomberg first word news, we go to mark crumpton. senator elizabeth warren has dropped out of the 2020 democratic presidential race after seeing virtually no path to the nomination. on did not win any states super tuesday, not even her own state of massachusetts. she has not address the question as to which remaining candidate she will endorse. bloomberg has learned worn plans to tell her stop this morning and make a public announcement today. in the dubai desert, seven world health organization workers are racing to sort, package, and send out hundreds of shipments to medical supplies to countries around the world battling the coronavirus. isand for medical supplies skyrocketing as the virus spreads around the world. cases have been reported in about 80 countries. willdent trump says he deny federal funding to so-called sanctuary cities. the president cited last month's court ruling which said his administration could block law enforcement funds to states and cities that don't cooperate with federal immigration authorities. shouldsid

now we go to mark crumpton with first word news. mark: european officials are warning against loosening lockdowns after the coronavirus outbreak claimed more than 3000 lives in spain and italy over the weekend. the total death toll is now over 17,000. the pace of fatalities is showing signs of leveling off. italy has reported the lowest number of cases in nearly two weeks. officials are warning against complacency. president trump says he plans to call russian president vladimir putin to discuss that country's oil price war with saudi arabia and the global response to the coronavirus pandemic. mr. trump says he does not want to see the energy sector prices." over low oil oil recovered slightly after tumbling to $19.72. handed's parliament has the prime minister the right to rule by decree indefinitely, effectively putting the eu democracy under his command. hungary's ruling party overrode objections from the opposition handing orban the right to overrule any law. measures willay be taken proportionate to fighting the coronavirus. in

i'm mark crumpton. this is bloomberg. vonnie: it is 1:00 in new york, 5:00 in london, 1:00 a.m. in hong kong. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world we are following. stocks cratering, losing the most volume in nine years. circuit breakers triggering trading halts across asset classes. volatility putting investors on edge. fight.blown oil price and it's all causing financial condition to tighten the fastest pace since the 2008 crisis. the next pain point to watch his credit. riggs.et to taylor halfway into a very traumatic trading day. taylor: early this mentioned, we opened up down 7%. trading was halted for 15 minutes. we reopened, we recovered a little bit of those losses but not much. the next limit lowered is 13%, which we are nowhere near. for now we don't think there would be another limit helped. we are off only about 6%, but not at that 7% range where we were earlier. the russell 2000 is interesting. this is small

i'm mark crumpton. this is bloomberg. david: a hiring search last month, but can the labor market hold up as the coronavirus spreads? we ask alstom goolsbee at the university of chicago. this is bloomberg. ♪ david: this is "balance of power.". i'm david westin. the u.s. labor market surprised upside last month with wages going up at the rate of 3% per year. the president's senior executive advisor showed just how strong the u.s. economy is but did warn growth would be slow in the second quarter. are better there you may be 2.5% to 3% in the first quarter. i know, as a realist, economic growth is likely to slow in the second quarter and maybe the third. david: for his take on the state of the u.s. economy looking forward, we welcome austan goolsbee, former chairman of economic advisers under obama and currently economics professor at the university of chicago booth school of business . us.s great to have you with as an economist, from the white house, what is your take on where the state of the economy is today and where i

i'm mark crumpton. this is bloomberg. vonnie: it is 1:00 in new york, 6:00 in london, 2:00 a.m. in hong kong. i'm vonnie quinn. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. stocks surging, policymakers gaining confidence that they will act to offset the coronavirus impact. the rally coming in the face of fresh data that shows manufacturing contracted the most since 2009. twitter shares are soaring after bloomberg reported that elliott management has built a sizable stake in the company and is pushing for changes, including possibly replacing jack dorsey. a headline just crossing the bloomberg. the u.s. is ordering chinese state media, for chinese state media operations to cut the u.s. staff by 40%. the u.s. ordering chinese state media company, four of them to cut their staff by 40%. let's get to the markets. abigail doolittle is with us. what a turnaround. abigail: we have a real reboun

let's get a quick check on bloomberg first word with mark crumpton. mark: thank you.sident trump plans to declare a national emergency over the coronavirus outbreak. bloomberg has learned the president will invoke the stafford act, which will open the door to more federal aid for states and municipalities. mr. trump will hold a news conference from the white house at 3:00 washington time. bloomberg will bring that to you live when it happens. candidates parliament is shutting down for at least five weeks. the government says the goal is to keep lawmakers from contribute into the spread of the coronavirus. this comes after justin trudeau's wife tested positive for the virus. the prime minister has been self imposed quarantine. the european commission has taken steps to minimize the coronavirusact the pandemic takes on its member states. the commission is setting up a member fund and will increase -- economies,o biggest germany and france, have pledged hundreds of billions of dollars in guarantees to protect individuals and small businesses. the world health organizatio

here's mark crumpton. the planned house vote on the coronavirus response package has hit a snag. was opposing, who the bill, said he will insist on a roll call vote today. that would force many lawmakers to make the trip to washington to cast a vote on the certain to that is pass anyway. party leaders had hoped to pass the measure by voice vote. the move infuriated president trump and lawmakers from both parties. thatrump tweeted congressman massie is "a " and-rate grandstander "a disaster with america." we will have more on this story as it becomes available. there was a major change in tone overnight between the u.s. and china. president trump and chinese leader xi jinping pledged in a phone call to work together in the fight against the coronavirus. this comes after weeks of rising tensions. president trump tweeted "we are working closer together." says relations between both sides are what he calls a critical moment. iran announced another 144 deaths today, thousands more in critical condition. iran has

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i am taylor riggs. amanda: i'm amanda lang in toronto. welcome to bloomberg markets. here are the top stories we are following from around the world. stocks are selling off, volatility surging again. bond yields hit fresh record lows. this as investors weigh the impact of the coronavirus. two more cases of the disease have shown up in new york city amid reports that the trump administration will not meet its goal for distributing virus test kits. and a billion-dollar bet on the future of entertainment. i spoke with jeffrey katzenberg about the streaming video space and his plans to rewrite the equation. taylor: in the meantime, a quick check on the markets. we are proudly below the 200-day moving average. erasing a lot of the games that we saw yesterday. firmly in a bear market, off 5%. some of the major airlines are getting hit the hardest. carriers looking at $113 billion of losses in revenue. that means you h

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are now joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. >> investors fear major economic fallout from the coronavirus. worldwide of infections from the virus topping 100,000, putting more pressure on global leaders to respond. you'll hear this half-hour from a tree on big names. oaktree's howard marks, stephen poloz, and canadian finance minister bill morneau. quick check on the major averages. what we are looking at is a down day once again, off the lows of the session but every group in the s&p 500 is lower. energy and financials leading us lower. we see very few bright spots, although we see some buying out there, including airlines. delta and ual, walgreens trading higher. are focused on is what is happening to the 10-year, 0.76, an extraordinary n

standing by his mark crumpton. ent trump is getting set to announce a 90 day deferral on the payment of some tariffs. the order would not apply to tariffs the president imposed as a result of an enforcement action, such as on chinese goods or steel and aluminum around the world. a grim milestone for the united states. the u.s. death toll for the coronavirus is now more than 3500, eclipsing china's official count. deaths in new york state topping 1500. the governor's brother, cnn anchor chris cuomo, has been infected. and willling well continue to work from home. in italy, the number of coronavirus cases leveled off today that a two-week low. there were about 4000 infections in the past 24 hours, the same as the previous day. they are planning a gradual opening of the country in early may. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i i'm mark crumpton, this is bloomberg. ♪ ♪ romaine: we all know smile direct club, known fo

i'm mark crumpton with bloomberg's first word news. bloomberg world headquarters in new york, i'm shery ahn. amanda lang.'m welcome to bloomberg markets. we are joined now by our audiences, and here are the top stories we are following from around the world. market losses are accelerating as the world health organization declares covid-19 a pandemic. than&p 500 now down more 4%. stocks have erased yesterday's gains and are losing ground in 12 of the last 15 sessions. this amid concerns of around the trump administration's response to the novel coronavirus. the president has failed to deliver on his promise of a sweeping stimulus package to and crude outbreak, oil prices are extending their declines as saudi arabia and the united arab emirates pledge to boost output. we will have an opinion from harold hamm of continental resources. that's still ahead. shery: let's get a quick check of the markets. stocks are obsession lows, but the s&p 500 and the doubt now down more than -- the dow down more than 4.1%. groups in the s&p right now sink

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. >> live in toronto, i'm jon erlichman. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences. shery: here are the top stories we are following from around the world. u.s. stocks rebound from the biggest route since 1987, as the government steps of its efforts to stimulate the economy. volatility surging to record highs as traders grapple with the coronavirus. this as the federal reserve rams of efforts to keep financial conditions in check. the fed announcing plans to provide companies with short-term credit and ponder rule revisions to free up capital. more details on that push for stimulus. secretary mnuchin saying that they want to send checks to americans within two weeks. more details on that story coming up. stepping up stimulus. some investors stepping up with the s&p, dow, and nasdaq in positive territory at this hour. it has been another volatile trading session moving

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amanda: live in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. states of alarm. president trump expected to officially labeled a pandemic a national emergency. canada suspends parliament. investors looking for increased government response. gold is heading for its worst week in almost a decade as even safe havens need to climb. and all eyes on credit with turbulent markets, concerns grow about available cash. let's get a quick check on the major averages. we are starting to grind higher again. we have since about 12:30, after discovering the president would declare a state of emergency. let's bring in a taylor riggs for more on the markets. definitely has been a trying day for those in the markets. it is friday. in europe, we tracked a bit lower, so the u.s. is following suit. taylor: still o

here with the details, mark crumpton. te republican leader mitch mcconnell says the chamber will vote today on that historic stimulus package, it provides almost $2 trillion to rescue the united states economy from the impact of the coronavirus outbreak. most americans will get direct payments. industries will get bailout money. and small businesses will get aid to help workers on the payroll. the house also will have to pass the measure before it can go to. . president trump. in india, police have begun the task of keeping more than one billion people indoors. on tuesday, prime minister modi announced three weeks, countrywide lockdown covering nearly 1/5 of the world's population. his speech triggered panic buying leading people to other penalties for violating the lockdown by going out to shop at local stores. in tokyo, officials are asking residents to stay indoors amid a jump in coronavirus cases and they are warning the city could face a lockdown if the situation does not improve. tokyo has been able to keep its numbe

let's get to first word news with mark crumpton. spain has reported its deadliest day at in the coronavirus outbreak. there were 738 fatalities, bringing the death toll more than 3400. the total number of cases in 48in is now approaching thousand. russia has reported its first death from the coronavirus. two elderly patients who also had underlying conditions were the first deaths reported. russia has 658 cases of the infection nationwide. in india, police have begun the gargantuan task of keeping more than one billion people indoors. on tuesday, prime minister and modi announced a three week nationwide lockdown covering nearly 1/5 of the world's population. his speech triggered panic buying leading people to risk by another entity's for violating the locked down by going out to shop at local stores. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. \ shery: this is "bloomberg markets." i'm shery ahn in new

. ♪ mark: i am mark crumpton. president trump will invoke an act to address the cranberries.e government more latitude. mr. trump did not say how we would use the authority that would sign the act "in case we need it." he said he will expand the nation's testing capacity and deploy a navy hospital ship to new york city. the united states and canada are closing the border to nonessential traffic. that will prevent further spread of coronavirus. president trump said trade between the two nations will not be affected. one official calls it a ban on tourism and vacations. japan is tightening its borders in an attempt to combat the coronavirus. the prime minister says japan will propose an entry band for people from parts of italy, spain, and iceland. the world health organization says europe is now the epicenter of the pandemic. japan will also step of quarantines for visitors from 30 countries including most of the rest of europe as well as a wrong and egypt. iran nd egypt. italian authorities say too many people violating the national decree allows people to leave home to go to

i'm mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences. >> here are the top stories we are following from around the world. equity markets plummet. the stoxx 600 recording its worst day on record, plunging more than 11%. in the u.s., the s&p 500 plunging more than 8% at its lows, triggering a circuit breaker for the second time in a week. reserve nowral stepping in, injecting massive amounts of liquidity. to thes adding optimism market, the stock bouncing off the lows but struggling to maintain momentum. amanda: just checking in on those major averages, as you note, it is the intraday move that will be the story of the day. veryw markets tracking steep declines, including here in toronto, one of the steepest on record, close to the 1987 declines. we are off the lows of the session as we heard from the new york fed. among

i am mark crumpton.omberg. ♪ ♪ romaine: demand destruction and supply saturation looks to push oil down to its lowest level in years. have seen invel we quite some time. bloomberg intelligence mati strategist joining us right now on the phone. is there any real support right now for what we are seeing in the oil market? mike: i think it goes back to the key level that really .atters for wti crude oil on the year is down almost 70%. this would be its worst year ever. it has a good reason to be down. around already, dollars, that does not matter much. lowsis basically the old from 2008, 2013. if we drop $10 from here, that is significant deflationary implication. scarlet: one thing that comes up over and over again, people are describing the oil market is broken. from where you sit, what does that mean? and when with the last time it -- oroken or is broken this broken? reallyroken, i don't subscribe to that. we know this is a pretty significant global recession. you look at bond yields at the lowest level

let's check in with first word news with mark crumpton. : president trump's team has been working on a potential economic stimulus package for 10 days but was not yet prepared to provide specifics. bloomberg has learned the president surprised members of his administration by promising to unveil a package today. the proposals expected to include a payroll tax cut and is short-term expansion of paid sick leave to help calm markets that have been battered by the coronavirus outbreak. with the coronavirus now and at least 100 countries, health officials say the global shortage of medical masks is likely to get even worse. the shortage is leading governments to jockey for supplies, including the united stockpilingh is come and germany and south korea, with have banned exports altogether. health officials warned that restrictive trade measures could worsen the shortfall and make poorer nations more vulnerable to the spread of the virus. putinn president vladimir is setting the stage to be able to stay in power until 2036 speaking to lawmakers to

let's check in with mark crumpton for our first word headlines. ident trump said today that he is hoping the united states will be reopened by easter as he considers how to relax nationwide social distancing guidelines to put some workers back on the job. many public health officials call for stricter, not looser restrictions on public interactions. the president told a fox news town hall that he is already looking toward easing advisories. health officials warned it was too soon to call it a trend and unfortunately they were correct. deathss reporting 743 from coronavirus today after two days of a slowdown that had offered hope. topirmed cases in italy now 69,000. the italian government says it may impose fine of as much as $4000 for those who violate the nationwide lockdown. in india, prime minister narendra modi has imposed a three week long nationwide lockdown to prevent the spread of coronavirus infections. in a televised address, the prime minister said, "for a few days, forget what it means to go out." so far, the outbreak in india has been

i'm mark crumpton. this is bloomberg.the coronavirus and the oil price war between the russians and saudi's has disrupted global commodities, plus left a lasting impact on food supply chains. joining us with more, the founder and ceo of grow intelligence, who has analyzed the ripple effects. food, as anyone knows, is a source of deep anxiety. we see it in the grocery stores. it strikes existential terror, the thought that if you go to the grocery store, it would not be there. from your perspective, how robust and sturdy are the supply chains we have right now for food? >> the supply chains have never been more fragile due to a combination of things. shipping flows being disrupted as a result of coronavirus. you have supply constraints starting to emerge because of fordemand patterns consumers started to change in terms of how they are purchasing in supermarkets as different cities go into lockdown mode. the average home is purchasing way more food than it does on an average day or week. managing the supply chain of what i

i'm mark crumpton. this is bloomberg.nking and financial stocks having their best day since 2011. that is coming off one of their worst days yesterday. let's bring in the head of equity strategy. gerard cassidy. they were a man of many hats. banks, talk about obviously the business model is predicated on borrowing at lower rates and lending in higher long-term rates. i know that is a simplification. but have seen that gap narrow between short-term and long-term yields. what are you seeing? wellthink you summed it up i think it is very straightforward. banks take in deposits and make loans. they obviously like to fund those loans with lower cost deposits and higher-yielding loans. today, the flat of the yield curve. the industry does better in a steeper yield curve environment. you saw the 10 year rise. yesterday, we saw the plummet in the 10 year bond yield. that really very important we do have a steeper yield curve. again next week and we start to see the long end , that curve creep up would be positive for the bank's m

i am mark crumpton. this is bloomberg.fed shaved 50 basis points from its benchmark rate in an attempt to fight a global demand shock. treasuries search investors are worried that the emergency cut will not be enough to impact the economic impact of the coronavirus. karl, thank you for joining. you have been writing about the fed response. did they do the right thing today? was there something else in powell's messaging or anything else that said to the market, this is not enough. >> i was surprised they did it so soon but it was the right thing. i don't know if his messaging itself was that enough, but the crisis is well beyond 50 basis points. they will have to do more. romaine: when you look at what powell said and i guess the way he said it, this general idea that they need something beyond just monetary policy. does the fed have anything else in its toolkit that he can do to stabilize the economy assuming the outbreak does not get any better or is this something where you have to pass the baton to fiscal policy makers

we turn to mark crumpton. mark: michael bloomberg ended his presidential campaign today.ent more than a half $1 billion but failed to per se -- persuade democratic voters he was the best choice to defeat president trump. bloomberg says he is endorsing joe biden. he's the founder and majority owner of bloomberg lp, the parent company of bloomberg news. italy is taking steps to contain the spread of the coronavirus. the country education ministers as italy is shutting down schools and universities until mid-march. states,, in the united but number of coronavirus related deaths now stands at nine. all but one of those have taken place in the seattle area. global infections have risen 93,000. in tennessee, at least way for people are dead, dozens more missing after tornadoes ripped across four counties early tuesday. tens of thousands are facing no electricity, gas, or water. many roads are impassable. one of the most powerful twisters struck downtown nashville, killing two people there. some troop -- some super tuesday polls extended their hours to allow storm affected resid

let's get first word news with mark crumpton. rk: governor andrew cuomo has ordered all nonessential new york workers to stay home for the foreseeable future to arrest the spread of the coronavirus. the move comes after days of conflict with new york city mayor bill de blasio on whether such extreme measures were warranted. hours after a similar order was affected by california governor newsom. questions are being raised about soldu.s. senators who stock after receiving sensitive briefings about the emerging threat of the coronavirus. according to financial documents, senator richard burr and kelly leffler completed their sales when the trump administration was still downplaying the threat, and before drastic stock market declines kicked in. is married to the chairman of the new york stock exchange. both deny any wrongdoing. california democrat dianne feinstein and james in half of oklahoma also offloaded stock after the briefings. president trump says they are honorable people. americans will have more time to file their tax retu

i'm mark crumpton. this is bloomberg.ne: china quantify the economic impact of the coronavirus. game. been a guessing some investors are turning to alternative data. amen is the founder of cuemacro. you have been involved in alternative data for a while. can you give us a sense of how we can use those to sauce out the effect of this -- to suss the effect of this economy? saeed: one is trying to track the buyers itself. from an investor viewpoint, the primary thing you can do is try to understand the economic impact of it. traditionally, we have used gdp data to understand the impact on economic growth. with alternative data, we can have more high-frequency measures for aspects of the economy whether it is growth, consumer demand and so on. joe: if we look at a country like china, there is no question, especially in the first quarter, activity by any measure got clobbered. some of the most staggering charts you will see anywhere. what about in developed economies where we have not seen an explosion of cases, but we know th

i am mark crumpton. this is bloomberg.l of looking at the the coronavirus, the number of cases and deaths in europe has surpassed that of china. our next guest warned about this week ago that global outbreak would be difficult to contain. >> i think we are able to blunt force of the epidemic, but it will not be something we can contain. it was not containable in the beginning. in january we talked about this being animal to human, but we found out that was wrong and that was data from the chinese. we found out it can spread human to human's. -- human to human. that means all that's are off -- all bets are off. romaine: he is joining us on the telephone. we talk about this idea that last time we were moving from the idea of containing and containment of this virus and moving to mitigation area where does the mitigation strategies -- moving to mitigation. where does it stand now? amesh: make sure there is capacity,ospital ventilators, supplies like slobs to test people -- swabs to test people. this is scattered across the co

now we turn to mark crumpton for bloomberg first word news. mark: new york state has confirmed its second case of coronavirus. a 50-year-old man who works in manhattan and lives in westchester county has been hospitalized. andrew cuomo says the man had recently traveled to miami, but not any country with an ongoing outbreak. it is not clear whether he had been in contact with anyone who had been infected. tornadoes ripped across tennessee earlier, killing at least 19 people and destroying 40 buildings. one of the twisters caused severe damage in downtown nashville. schools, courts, and transit lines were closed, and some stations weregs moved only hours after super tuesday voting was set to begin. the united nations nuclear watchdog says iran has tripled its supply of enriched uranium in the last three months, and now has more than a ton stockpiled in violation of the 2018 nuclear deal with world powers. iran has been slowly violating provisions of the deal in the hopes other nations will pressure the united states to lift sanctions against ira

i am mark crumpton.berg. ♪ scarlet: credit markets are looking to extend gains and companies are looking to tap the market as well. smith, r bloomberg credit reporter. we know there has been positive movement and you have companies from mcdonald's to 3m issuing bonds in the u.s. and europe. of these companies being opportunistic or do they need the cash? molly: it is a little bit of both. it is a mixed bag across the board today but i will say that definitely it is helping that we are seeing the third continued day of credit risk easing. it is so interesting how quickly things can change. you look at mcdonald's, just three weeks ago they borrowed five-year bonds at a time of 75 basis points. today it is nearly three times as expensive. goes to show how much of the front end has really sold off. but compared to even two days ago, it has been drastically better for a lot of companies in executing these deals. romaine: definitely an encouraging sign that some companies are able to go out and raise debt and

i'm mark crumpton. this is bloomberg. ♪ amanda: thanks.omakers are seeking stimulus from washington to help the car industry cope with the fallout of covid-19. the present signaled he is willing to assist the sector, saying the white house is watching the auto industry very much, and a call last week. in a letter on friday, leaders in manufacturing asked for a delay to the usmca trade agreement. alliance fore automotive innovation is on the line. john, what kind of relief is required? our minds go back to the credit crisis and bailouts, are we in that category here? john: we are seeing steep drop-offs in retail sales, no question about that. obviously commodity manufacturers are concerned about -- obviously, manufacturers are concerned about their employees. roughly 95% of u.s. auto manufacturing is suspended as of today. so this is hitting the industry hard. the focus right now is and should be on liquidity. these are companies with massive payables and it is important to the 10 billion americans that rely on the industry to make sure tha

i'm mark crumpton. this is bloomberg. guy: thank you very much indeed. take a look at where we are with the financial markets in europe. i want to show you what is happening in particular with the pound, which is getting back down to crisis lows. we are currently trading at 11453. we got down to one 14/12 on the 19th. that was a low we have not seen since the mid-1980's. 11453 is where we are trading. 4.3%.se 100 down by it was the worst of the majors in terms of percentage drops today. the dax in germany down by 2.1%. in paris, downed significantly airbus, down by 3.32% as we have come through the auction we will carry on the market coverage. at the top of the hour, we will see the briefings from 10 downing street. boris johnson's daily briefing. there is expectation that we will see further restrictions being placed on free movement, as a result of what is happening with the coronavirus. the briefing will start at the top of the hour and we will bring you live coverage of that on the cable, on dab digital radio and around the world on your bloomberg de

i am mark crumpton. this is bloomberg. vonnie: i am vonnie quinn. we are joined by --. vonnie: here are the top stories we are following. emergency interest rate cuts, slashing targeted rates by half a point. we will be speaking with larry summers. investors worried the move might not be enough to comply with the needs of the economy in terms of combating the virus. falling to fresh records. the chevron chairman and ceo will have a conversation shortly. tonda: major market reaction the move by the federal reserve and the reaction was volatile. with a swing of about 110 points. averages,n the major broad markets moving lower. interest rates are a pocket of strength for the broad markets. energy and financials are a drag. , where they might be affected by a cut, industrials, consumers, staples. gold is on the move higher. the 10 yearing yield, close to 1%. 1% levelbreak the today. it would be a big moment. vonnie: it has been on the cards , but we have been bouncing away from it and we are down there again. i want to give you an idea of what it looks like, the s&p 500 coi

. ♪ mark: i'm mark crumpton with bloomberg first word news.dent trump will visit the centers for disease control and prevention in atlanta this afternoon. the trip was initially canceled because of concern that someone at the cdc may have contracted the coronavirus. thepresident will stop at agency before going to his mar-a-lago result -- resort in palm beach, florida for the weekend. the president first went to nashville, tennessee, where he surveyed this week's storm damage. the president has signed the emergency coronavirus spending bill. andmeasure reimburses state local governments for preparing for the virus. lawmakers say congress will elect they have to provide more emergency funding before the virus outbreak subsides. there are more than 200 confirmed infections in the united states. another cease-fire has taken effect between turkey and russian backed syrian forces. it's the latest in more than two years of efforts to contain the region. in syria policy ib region. idl

mark: i'm mark crumpton with bloomberg first word news.dent trump plans to declare a national emergency over the coronavirus outbreak. bloomberg has learned the president will invoke the stafford act which will open the door to more federal it four states in the disabilities. the president will hold a news conference from the white house at 3:00 washington time. bloomberg will bring that to you live when it happens. pandemic isrus starting to impact the u.s. presidential election. libby is in officials have decided to postpone the states april primaries until june. more than 30 state residents have tested positive for the virus. most of them in new orleans. toisiana is the first state take the step but officials say more could follow. postponedlso elections in 2005 after hurricanes katrina and rita and the 2008 after hurricane gustav and ike. canada's parliament is shutting down for at least five weeks, to keep lawmakers to keep from can to getting to the spread of the virus. this after the wife of justin trudeau tested positive for e

i'm mark crumpton. this is bloomberg. ♪ >> july from bloomberg world headquarters in new york, i'm taylor riggs. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences. taylor: here are the top stories we are following from around the world. u.s. equities are the bulk of their gains. the s&p 500 turning negative after gaining this morning. now trying to stay in the green. some signs of hope for the airlines. president trump thomases to help the industry as u.s. carriers slash domestic and international service. oil rebounding after its worst loss since 1991, even as saudi arabia escalates its price war with russia. oil looking for a potential tax cut to shield the economic impact of the virus. amanda: let's get a quick check on the major averages. it's been a volatile session, of course. we opened up, and then we saw a big swing. almost 3.5% gains were lost. we can see the broad s&p 500 off the lows of the session but certainly

. ♪ witham mark crumpton bloomberg's first word news.dent trump has signed a coronavirus spending bill. say congress will likely have to provide more emergency funding before the virus outbreak subsides. they're more than 200 confirmed infections in the united states. democratic leadership in theington state is praising trump administration for providing billions to help the coronavirus outbreak. met with jayt inslee and other officials dealing with the worst coronavirus outbreak in the country. they should be proud of of leadershipand local and first responders. the way you have come alongside families that have been impacted is really representative of the and all ofrd of care america's hearts are with the people of washington state. he said he was glad the federal government was sending more than thoughts and prayers. reportedn state has 70 cases of the coronavirus. the u.s. government is sending 150 military police to two border crossings to do with asylum-seekers in case of a federal appeals court strikes it down. the ninth court of

in new york, i mark crumpton. this is bloomberg. ♪ inaine: senate republicans the u.s. 58 billion dollars in loans to airlines who have seen their traffic plummet over the covid-19. will there be enough to support the industry? let's bring in nicholas calio president and ceo of airlines for america via skype. let's talk about with the airlines need to remain solvent and what they would need to get back up and running once we get through this downturn we are going through. nicholas: thank you for having me. it is a matter of remaining solvent and getting up and running. right now we are in a situation that two weeks ago seemed unimaginable. we have seen traffic plummet in a mind-boggling fashion. we are down to low factors of 10% to 20% and that is going down day by day as more and more restrictions. we were flying planes three weeks ago in record numbers. we had 85% to 100% load capacity and now is that 10% or 20%. at the same time, bookings have fallen off precipitously and cancellations have skyrocketed. it is a perfect storm. the of it is the fear of virus and part o

i am mark crumpton. this is bloomberg. ♪ vonnie: i am vonnie quinn, welcome to bloomberg markets.ere are the top stories we are following. the fastest u.s. stock rally in nine decades is showing some signs of fatigue. nervous aboutin the effects of the coronavirus pandemic. bostic from president who expresses some confidence that the economy can rebound strongly. later we speak with nobel prize-winning economist joseph stiglitz, who will discuss whether the stimulus efforts are enough to save the global economy. before we get to our market check i want to point out that the baker hughes count is out. down 44 to 728 last week. right now crude oil is deteriorating even further. down 5.1%. taylor riggs is with us to take us through the rest of the trading day. taylor: i want 10 fold and some of that analysis you are getting some -- getting from the baker hughes index. it is off about five-and-a-half percent or so. industrials as well. until today they were up 15% or so. on the past three days we had a lot of optimism. that is turning around some of those. down 11 basis points on the

i'm mark crumpton.loomberg. ♪ ♪ the past few weeks, as the world was gripped by panic over the covid-19 coronavirus, latin america looked unscathed. but now, the virus headed toward that region and many medical nationals are worried that the rate and speed of it could leave the region unprepared. joining us, shannon o'neill. thank you for taking time to be with us here today. i am just wondering, by all measures, latin america has had good head start. to see what happened in asia, in europe, in the u.s. and north america, how prepared are these countries in central america, south america, for now what appears to be coming their way? there have been very different reactions from different governments. some of them took that advice and immediately started shutting their borders, closing the airports, having citizens isolate themselves. peru, argentina, others. mexico, their president being rather nonchalant, telling people that it has not hit yet and maybe will not come. very different approaches from the

mark crumpton. this is bloomberg. romaine: a third of the coronavirus cases in the u.s.super market demands. the supply for consumers instead now.estaurants for c.e.o. to bring in the of the largest grocery chain in manhattan, john, we want to talk grocery chain ur here. so changes have you made there is a efficient and seamless supply chain of goods through dy that walks those doors? >> i have been in this business for 50 years. -- i haven't upon run the company for 10 years, i ave different company presidents, but i went back to old friendsiers, my from 20, 30 years ago and pulled need avors, i said i product. i need a truckload of this. i need a truckload of that, i that.a truckload of hair used our old gray experience to make sure stores our employees have been there, we have old time 30, 40 years and own the stores and looking great. they have 80% of the products we great in ave which is this situation. and we're here to service the here to service the consumer and our people that there are working hard and they're doing a great job. scarlet: when you service the se

. >> let us get over now to the first word news with mark crumpton.rnoon at the white house, president trump signed the $2 trillion economic stimulus package that passed the house earlier. it is the largest stimulus package in u.s. history. the massive plan was approved on a voice vote but only after massey -- italy is reporting its deadliest day so far. the number of new cases actually declined today. fidelity's from the disease shot up to nine hundred 69, the most in a 24-hour period since the start of the outbreak. italy has more than 86,000 total cases, roughly the same as the u.s. and more than china where the disease first occurred. boris johnson has the virus experiencing mild symptoms and had a test yesterday. video on twitter saying he is in self isolation and his downing street offices. let us go to president trump now at the white house. we are is thep: -- they are setting aside their differences and putting america first. this legislation provides for direct payments to individuals to support small businesses as well. we are going to keep

. ♪ ♪ mark: i'm mark crumpton with bloomberg first word news.ouse advisers plan to meet with president trump this afternoon when he returns from florida. they're expected to present him with a list of potential fiscal policy responses to combat the spread of coronavirus. meantime, the president is trying to downplay virus fears. on twitter today he said the number of flu cases are outnumber the number of coronavirus infections. he says nothing is shut down, life and the economy will go on. in new york, governor andrew cuomo says the director of the port authority has been confirmed to have coronavirus. he is on home quarantine. american troops have begun leaving afghanistan. officials tell the associated press it is part of the troop withdrawal required in the u.s.-telegram peace agreement. the u.s. plans to cut the number of forces in the country from 13,000 to 8600. -- afghan capital