it's hard to decouple the rise of what tim o'reilly, this term that tim o'reilly popularized web 2.0 from the rise of google itself. it's this idea that if google wants to be a turnstile, it used to diffuse virtually 100% of its traffic through the world wide web. that pediatrician st. louis arch, 15 years ago you could imagine 100 people doing that search and just for the sake of argument let's say there are on average ten of them diffused out to the web to the ten ten blues on page one. so each site on page one gets ten users. today, as just a baseline, about seven in ten ten of those clics done on smart phones are going into google's products. that same 100 people, 70 are just inside google's walled garden. the web has to contend with those 30 minute clicks. that gives you an idea of the quantitative impact. of course the internet is a lot bigger today so we have lots more searching. technically some services like yelp have grown over time and that's a good thing, but the truth is there are 2 billion types of searches like this everyday on planet earth, local searches, people look

this term that tim o'reilly popularized web 2.0 from the rise of google itself. it is this idea that google used to be a turnstile and use to defuse virtually 100% of its traffic through the world wide web. that pediatrician in st. louis arch, 15, 16 years ago you can imagine 100 people doing that search and just for the sake of argument let's say that they are on average ten of them defused out to the web to the rulings on page one so each site on page one gets users for it today as a baseline seven out of ten of those clicks done on smart phones are going into google's products so that same one hunt of people, 70 had gone are just inside google's web has to [inaudible] that gives you an idea of the quantitative impact and of course the internet is bigger today so we have lots more searching and so technically some services like yelp have grown over time and that's a good thing but the truth is there are 2 million types of searches like this every day on planet earth, local searches, people looking for something as low stakes as a slice of pizza as an auto mecha

the day go away o'reilly employer why don't we have an island in the one little bit in the town and they tell me what we all want along with. the advice and so you will not let me hold a pot round so i joined in for my own my mom who ingenue kill anything i think what about on the good woman watercooled that's why i bought her and that i bought that or maybe. i 8. was going to hold it. it's going i went on the run i was like. and i had to go on the been all robbed but took off as if i wanted to all want to buy it i guess. i didn't the only dance when we dance when we desecrate there must go balls i mean what a month. for me to think. that one day but i'm not of the. you know or as in love as you might on about day knows i've been one. of those i'm want gun. live but i don't you want the annual i give it as a. live. live live. live. live. police. are limitless. the so. i don't mind i'm the guy that oh my god and then the family. goes the 11 way i'm wondering. song of struggles full of pleasure i mean a body that a person. on their battle. with was only. the moment anyone with an intimate

o'reilly better by 2.8%, auto zone better by 2.6%. why. both better on the belief cheaper gasoline will fuel confidence and prompt auto sales. those stocks are moving higher. i don't know if somebody can tell me how gasoline is doing. i can try to call it up here. it's probably significantly lower here for commodities. i'm pulling it up right now. nymex gasoline, can somebody tell me? that's the wholesale price, it's down 17%. boy, that better translate to our gas stations on the corner. i know all of you are saying that. why does it take so long? we see oil plunge, then it takes awhile for the guy with the stick to change the price. all right. on the flipside, how low can elon musk's tesla go at the moment? well, elon's happy dance seems a bit like it's on a collision course because tesla is facing another broad-based selloff. we have the electric vehicle innovator's empire getting clocked right now. it is down about 12.3% but well off the lows. down 86 bucks. earlier it was down 100 bucks. because plunging oil prices bring the notion of

9 countries in the region are affected and 3 of those are worse than i think that is a troll yes o'reilly yeah and kenya for tell us what what is it like what is that experience like of seeing that many locusts in one place at one time for someone who was not used to locusts this is very scary is like seeing a cloud as large as. 5 then 20 square kilometer does as small and that sometimes it can even block the light from the sun so you have seen those pictures and it is very scary you know addition to the damages it can cause to crop land to pasture to. 220 inch or well unfortunately not only it scary but it is causing serious damages i want to bring into our conversation confirm according us death explains what it is like from the finest perspective of a. to what not to goodness we depend heavily on this farming season we have 2 seasons but the season beginning april is short and not as productive we depend a lot on the season and we worry that the locusts will destroy our harvest and we end up remaining hungry the rest of the year waiting for october for the next crop in season. so for t

imagine expense for consumer during a search on google, it is hard to decouple the rise of what tim o'reillyularized, web 2.0. from the rise of google itself. it is the idea that google used to be a turnstile. diffuse virtually 100% of its traffic through the web. that pediatrician st. louis search, 15 years ago, you can imagine one her people doing the say 10 of thems defused out to the web, to the 10 blue links on page one. so, each side on page one gets 10 users. baseline, about seven intent of those clicks done on smartphones, are going into google's product. that same one had her people, 70 have gone, are just inside thates walled garden -- of same 100 people, 70 are inside googles walled garden. in the internet is bigger today so we have a lot more searching. technically some services like yelp have grown over time and that is good. but there are 2 billion types of searches like this everyday on planet earth, local searches. stakes,ng from low looking for a slice of pizza, to high stakes, looking for a pediatrician or auto mechanic. and there being steered into this. respondedhas the e

while it will help keep these guys in business and as we as if we get back to normal again we only o'reilly speculating that it will be able 30th or may or june so we don't know what it was that as we get back to work will start using it again and will hopefully start to leave some of that glove but at the end of the day i mean we have no idea how long does it go on for bucked the forgiveness of loan the free money will help the shell producers survive through this very tough time right now and i was going to actually ask about that because i mean you're right they're getting some some sort of a we could call it stimulus measures or loan forgiveness not forgiveness but you know i mean delays on it so but in the end they have these rage with razor thin margins are all of these shell producers going to make it out of this particular issue that we're having right now or is this are some of them just are going to cut it. some a market to make it burlison some are very tight budgets to begin with right there already you know on a shoestring before all this happened what are always at let's say 3

american tower, o'reilly automotive which is an interesting play my final question to you is, would you then -- looking through these companies, exactly the way that thorough investors should be looking at them. would you prefer to see a monetary response here or something that could be more targeted in terms of a fiscal response what would make you feel most comfortable going-forward. >> i think it's important to roid we're still relatively early in the unfolding of how the corona virus is going to play out in the u.s. and globally, i would be hesitant to rushford too quickly with strong fiscal or monetary response. in fact, i think too strong a response, too much alarm might cause more damage than it does good i would be measured in my pace of response. >> how much of today ace rally is because biden won in south carolina >> i don't think it's -- that much i think it has a lot more to do with the g-7 call that's going to be tomorrow and the expectations that there's going to be some coordinated response among the g-7 countries. >> so there better be at this point? >> yes >> we'll see

capital oil, autozone, and o'reilly automotive. presumably, people still buying provisions. all other stocks in the dow are lower. the dollar index is on the cusp of dipping below 95. we have the vix trading at -- more markets next. this is bloomberg. ♪ hi! we're glad you came in, what's on your mind? can you help keep these guys protected online? easy, connect to the xfi gateway. what about internet speeds that keep up with my gaming? let's hook you up with the fastest internet from xfinity. what about wireless data options for the family? of course, you can customize and save. can you save me from this conversation? that we can't do, but come in and see what we can do. we're here to make life simple. easy. awesome. ask. shop. discover. at your local xfinity store today. david: from bloomberg, i'm david westin. welcome to "balance of power," where the world of politics meets the road of business. we start on the markets was abigail doolittle in new york. from cirilli will join us washington on the trump of ministration preparing a possible response to all of this. we have t

o'reilly auto parts the biggest gainer on the nasdaq 100 right now as the coronavirus fueled sell-offtinues, airlines as an overall group plunging due to travel concerns and service reductions united down more than 6% to give you an idea of how hard it's been hit, shares trading 49% below the 52-week high the stock and transports are plunging expedia down 6%, rail stocks, csx down 8% on concerns about volume with the slowdown china. technology stocks, chipmaker western digital with the biggest decline. tesla falling around 10% and then you have to look the at the etfs the sma etf on pace for the worse finish since october 2018. it's still early the nasdaq biotech on pace for its worse finish since september of 2015. consumer stocks have high exposure to the coronavirus fears and concerns last year starbucks one of the best performers in the nasdaq hit by the concerns recently, costco saying their sales have been boosted by people stocking up still selling off today. and now turn to the f.a.a.n.g. performing better than the market but accounting for more than a third of the point decli

. >> i agree with that but charles o'reilly, the chair of institutional innovation at the stanford business school, has a good book called winning through innovation or he talks about why is it that successful businesses can't innovate and it seems to me extremely applicable to the challenges that western military is facing out which is that when you are successful it dulls the hunger for disruption. right. it's hard to let go of 11 aircraft carriers if that is the way you have imagined. [inaudible conversations] >> exactly. exactly right. continuous aim gunfire aboard ships. my favorite military strategists and 19th century american soldier by the name of [inaudible] mckenzie was successful on the indian frontier again and again because he, asked the fundamental question of innovation which is, what our our adversaries doing right and then how do we blunt the effects of their success by doing different things right. i think dave makes a powerful case in the book that we've gotten lazy because we've so successful. we're simply being out innovated and basic ways that we just need to up our g

>> o'reilly automotive is on this list. obvious low target on the list looks good. in the financials you come back with an american express, which has gotten significantly cheaper. i own home depot, lululemon, paypal you can take a secondary look at once this gets visibility on the situation. but the consumer theme will come back again. >> come up, we are ready to answer your questions. as josh was telling you a moment ago. "ask halftime" is coming up. first we will look at the s&p sectors. we will take you to the wall it has been that kind of ten days we have to laugh a little bit. we will show you the sectors are we showing you the sectors there they are all red. dow is down 507. s&p is down 75%. that's 2.5% for the s&p. a reminder, you can always watch or listeto un s live on the go on the cnbc app. the half is back after this. chantix is proven to help you quit. with chantix you can keep smoking at first and ease into quitting. chantix reduces the urge so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or

doctor catherine o'reilly, medical director of sos, thank you for your time.ill be answering your question about coronavirus. how long do symptoms last? why is mask wearing actively discouraged? if you touch a service that someone else who has the virus on their skin, you could pick it up. i am travelling to london and packed trains, should we still travel this way? until we london and packed trains, should we still travelthis way? untilwe have an outbreak in the uk, there is no major risk of going on the train. your questions answered, all day tomorrow on the bbc news channel. hello this is bbc news with me annita mcveigh. the headlines: the bank of england announces an emergency cut in interest rates to shore up the economy, citing the threat from coronavirus. the bank also says it will free up billions of pounds of extra lending power to help support businesses. the bank's move comes as the new chancellor, rishi sunak, prepares to deliver his first budget. he's expected to announce support for the nhs and a big spending boost for infrastructure. health mini

it is the only major index not to close that level only two stocks in the nasdaq 100 in the green o'reilly autoparts and dollar tree big tech names falling today, especially those with high exposure with china with tesla down more than 9%. western digital and mercado l ibre down. united down and service reductions rail stocks falling on fewer containers of china meaning lower volumes for the business and want to take a look at the fang names along with microsoft, actually creating a third of the point declines and microsoft's fall also appears to be linked to the $10 billion jedi contract. a judge ruling that the challenge to that contract it does have merit. kelly, back over to you. >> a reminder of the other stories today, as well thank you. >>> as stocks continue to plunge today, critics have been left wondering did the fed act too soon with the emergency rate cut to key off the action this week? what can the actions accomplish? let's bring in randy costner great to see you today i don't know if you were listening a few moments ago with bob michael and steve talking about the major gaps

the mechanics of campaign is a person-to-person kind of deal or at least an in-o'reilly kind of deal, and that will be different. host: thank you very much, joining us from the political headquarters in roslyn, virginia. telephone lines are open. we will get to your calls in a moment. let's go through the numbers caucuses,rimaries and in what some are calling super tuesday. 2.0 in michigan former vice president joe biden shortly after the polls were officially closed was declared a winner in. half the vote 53.2% for the former vice president, 39.6% for senator sanders. that is in michigan. missouri,ries in another win for the former vice president, approaching nearly 60% of the vote compared to 33.9% for senator sanders. mississippi, a significant win with joe biden getting the lion's share of the delegate in that southern state. 80% of the vote for joe biden, and sen. sanders: 15.4%. if he holds that margin, he will get a handful of delegates in mississippi. so as you look at those numbers and see those numbers, what is your reaction? is early, butit the big take away for me is misso

only two stocks on the nasdaq 100 trading in green o'reilly awe u toe parts and dollar tree. tech and transports both tradin lower. tesla trading 12% lore facing a head wind from lower u.s. gas prices for that automaker. apple having the biggest negative impact after reports that it sold dramatically fewer b iphones in china as this coronavirus outbreak continues now over to bob at the new york stock exchange >> and we had jpmorgan, one of the worst days. this is a day for circuit breaker. a wild first hour. i want to show you halliburton as an example. we had a halt at 9:33. the s&p 500 halted then halted again on an individual circuit breaker, 10:00, for five minutes, then a third time at 10:22. another individual circuit breaker halt for another five minutes to slee trading halts in one hour haven't seen that i don't remember when and you can see they're down about 37% i've been asked a lot about gold stocks today what's going on with gold stocks being down, but wait a minute, it's up. this is because gold stocks act like stocks sometimes and you have concerns about slower

walmart got an upgrade kroger got an up grade talking about a surge in demand for food o'reilly upgradedralph lauren got an upgrade. dunkin' brands upgraded. you saw the good strength in coke coca recently monster beverage downgraded at morgan stanley mandated restrictions a problem for these. what are we still in is this a u-shape, l-shape recovery most people are not big on using v-shaped anymore the l-shape seems to be in control of the narrative right now here and of course, there's question about whether or not we're going to need bigger baa zu kas to put it mildly. the l-shape recovery jeffries is a good example quoting what we saw in jaws. we're going to need a bigger boat a lot of questions even about with the current programs if we'll see additional ones. it's encouraging and somewhat quieter response to the market not just at the moment, not hitting the circuit breakers markets did open a little more orderly as well. there were much less delays in some of the openings here. up and running a lot quicker here back to you. >> bob, yeah, hey, it's david. you know, you spend your da