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if you have not filed the 2018 tax, so far it's a good idea to do it now at irs .gov. >> rebecca jarvis thank you. >>> when we come back on this live "20/20," "america rising" and the artists rising to the challenge. singers, musicians from john legend to harry connick jr., performing from their own homes to audiences that can't leave theirs. we'll be right back. i totally get how important it is to stay connected. customers can do what they need to do, whenever they need to do it online. we care about keeping you safe. (vo) we are open 24/7 online, so you can keep managing all you need from home and through the verizon apps and verizon.com. but when allergies attack,f any the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes. allegra. live your life, not your allergies. the spread of covid-19. to help, we're offering free prescription delivery, by simply going to cvs.com or calling your local cvs. so, stay safe. because the more we stay apart, the sooner we can all get back together. >>> next tonigh

>> rebecca jarvis tonight on that breaking news from the fed. rebecca, thank you. >>> tonight, president trump spoke in the white house briefing room, along with his coronavirus task force, led by vice president pence. our trevor ault was inside the room and trevor, just yesterday, the vice president promised we would hear about this website, they said they were working on it with google to help out with testing, but there was some conflicting messages on that. what did the vice president say tonight? >> reporter: well, tom, the vice president actually just answered this with some slight specificity. he says they're hoping sometime early this week they can roll out a website, but not yet the full version of it. they think it's just going to be a questionnaire where people can determine whether or not they need to get tested on that, and then other than that, they're going to hope to roll out further websites in local and state levels, as well, so, people can figure out if they need to be tested, where they need to go. the vice president did say,

rebecca jarvis explains the larger impact. >> grinding to a screeching halt comes with a giant price tag, as much as $120 billion this month alone. >> romney has suggested giving $1,000 to every american adult to make sure we can meet short term obligations. amazon is looking to hire 1,000 workers as orders increase. >>> we have an interactive map of coronavirus cases in the bay area, and that's on abc7.com/coronavirus. >>> new at 6:00, keeping your devices clean. the best way to disinfect your cell phone and stop the spread of the virus. >>> here's a look at future radar. you can see a lot of the shower this morning are going to fall apart, and then we will get a little bit of a break before more develop this afternoon and and look up to 5 years younger in 12 weeks... with new no7 laboratories firming booster serum. it lifts and firms so well...80% of women said procedures can wait. new firming booster serum from no7. of women salike getting the bestt. everwifi experiencen. with wall-to-wall coverage-there's a win. plus, added protection for your connected devices. that's a win-win.

want to go straight to rebecca jarvis. said, the fed took the emergency action bringing interest rates close to zero overnight and real concerns on wall street about the real economy. >> that's right, george. and there's not only that move from the fed, but a coordinated move from central banks around the world because this is a global issue at this point in time. and the question is, how the economies around the world are going to respond to this. we know that here in the united states the cost of the shut down that we have now seen in so many businesses, restaurants and bars just overnight here in new york and in many other american cities. the cost of the shut down to most american entertainment. most american activity has a significant price. about $120 billion coming out of gdp in just march alone, according to estimates out of moody's. mark zandy and the longerterm question, george, for this economy and the one that wall street continues to focus in on is the length of the disease, the government response and, ultimat

let's get right to rebecca jarvis. rebecca? >> reporter: that's right, david. the dow is now down 20% from that record high hit just one month ago. we're officially in a bear market with virtually every american industry impacted in some way by the coronavirus. some of the hardest bit are travel companies and small coited airlines saying the declines could be two times as bad as those after september 11th. and a sobering statistic on wale wiped out more than $5 trillion in value in just the last couple of weeks. >> sobering numbers tonight. rebe at least 29 have died, the governor issuing a series of mandates. images of families peering through windows to check on their loved ones. this resident visiting her son and daughter by phone. and in oakland, california, passengers are still coming off that cruise ship. taken to four sites in the u.s. matt gutman from california tonight. >> reporter: tonight, in the epicenter of the nation's coronavirus outbreak, the virus ferociously attacking the elderly. with seattle silenced and families left to peer into nursing ho

tonight, rebecca jarvis with the ceo with how they're dealing with covid-19 and how they're getting backter: thank you so much for joining us, how is everyone at starbucks feeling right now? >> like a lot of people around the world, there's a lot of anxiety and a lot of stress. people are united over this. th. >> reporter: he is the ceo ofee experienced first hand for the last three months. when did you first learn about the coronavirus? >> in early january, from our team in china. you hear stories about, you know, starbucks partner that maybe a family member had covid-19 and what they were doing to care for that i've been working on this seven days a week since mid january with our team in january and now here in the u.s. and now 82 markets around the world. >> reporter: starbucks with a significant presence in china was one of the first witnesses to the excruciating cost and impact of the disease. in january he closed starbucks throughout china then last friday did the same thing here, turning many into drive-through only. you have almost 350,000 employees. you just made a pledge to th

here is rebecca jarvis. >> reporter: endless lines, empty shelves, sold-out signs.avirus world, this is our new reality. purell, the new gold standard. the hand sanitizer suddenly one of the most sought-after products in the world. but how far are you willing to go to get your hands on a bottle? on amazon listings for a two-pack going for $84.99. if that wasn't steep enough, this seller advertising one bottle for $107.99. the markup on the n-95 masks nearly 600%. even though the surgeon general has urged the public to stop buying them. this one on amazon cost $200. a few weeks ago they were around $13. california's governor gavin tweeting out, seriously, amazon? these prices are absurd. earlier on capitol hill a vice president at amazon explained what the company was doing to combat this kind of price gouging during the coronavirus outbreak. >> there is no place for false claims or price gouging on amazon. we've removed proactively more than 1 million products making false claims and tens of thousands of products that were attempting to price gouge customers. this i

so, let's get right back to our chief business correspondent rebecca jarvis tonight. rebecca? >> reporter: david, the president's announcement last night and the fed's announcement today to pump $1.5 trillion of emergency funding into the markets did little to stem the volatility here. as it stands, the dow is now down 28% from its record high hit just last month. and take a look at this. as it stands, the market is now back where it was in june of 2017. and the feeling here on wall street is until we know the extent of the health problems, we won't know the extent of the economic ones. david? >> all right, rebecca, our thanks to you, as well. >>> the ncaa tournament now canceled, the nba suspending its season. and that news tonight from tom hanks and his wife, rita wilson, in isolation after both tested positive. and they described their symptoms. here's abc's chief national correspondent matt gutman tonight. >> reporter: tonight, the american entertainment industry shutting down. the cascade of announcements coming fast in recent hours, punctuated by disneyland's statement t

rebecca jarvis from wall street tonight. >> reporter: tonight, uncertainty over the coronavirus causing a free-fall on wall street. the dow experiencing its largest point drop in history, and the worst percentage loss since the great recession. the new york stock exchange opening with smiles and elbow bumps instead of handshakes, but within minutes, stocks halted after plunging more than 7%. hitting so-called circuit breakers -- a safety mechanism meant to keep the markets from taking a nosedive. >> you're down 7%. you have a 15-minute halt. >> reporter: at the forefront, uncertainty surrounding the coronavirus. >> the effect of this virus is very broad-based and doing a lot of damage to the broader economy. >> reporter: those concerns exacerbated by a price war in oil set off over the weekend when saudi arabia cut prices. the move sending u.s. oil plunging 25% to $31 a barrel, potentially eating into profits of energy producers, which employ 6.7 million people. other hard hit-industries -- airlines, cruises, with so many now limiting travel. the largest tech companies wiping out more t

rebecca jarvis is live downtown. this was alarming, especially given the rare move on a sunday from the fed. the markets still dropping quickly. >> reporter: just as the country is trying to wrap its head around this new reality, so, too, is wall street trying to contend with the new math. this comes with a giant price tag, by some estimates, some $120 billion this month alone. and just today, the u.s. airline industry, which employs 750,000 americans, saying that without a $50 billion bailout, they're likely to run out of money by the end of this year. david? >> rebecca, thank you. >>> there has been so many promises heard around the country about the number of tests that would be available in this country. first, 1 million tests for coronavirus, then a promise of $4 million. so tonight, where does that stand? a reality check. and at least two emergency room doctors on the front lines of the outbreak now testing positive. more drive-through testing sites are becoming available, but doctors saying they lack the prote

let's get right to rebecca jarvis. this was staggering, this first portrait. >> reporter: that's right, david. we're seeing a gigantic spike in unemployment claims. in michigan alone, up 550%. 9 million bar and restaurant jobs now potentially at risk, with all of the closures. and keep in mind, 3 of 5 americans are paid hourly. even the big three automakers have shut their factories in north america through the end of this month. but some help for homeowners today, president trump announcing hud will suspend foreclosures and evictions, and banks saying they will waive fees for those who need it. >> 3 out of 5 relying on hourly wages. rebecca, thank you. >>> from italy tonight, the most staggering toll yet. 475 deaths in just the last 24 hours. and again, this happened in a country with a severe lockdown. with more doctors and beds per person than the u.s.dtonisng messages to send out to the world. their warning. here's maggie rulli. >> reporter: tonight, italy staggering as the virus rages. 475 more deaths in 24 hours,

rebecca jarvis, abc news, new york. >> thank you, rebecca. >>> another top airline in the u.s.cing major cuts to service in the wake of this pandemic. united is slashing its flights by 50% for april and may. it's also considering furloughs, pay cuts, and lower staffing minimums for workers. airline officials say 1 million fewer people flew united in the first two weeks of this month compared to last year. >>> on the rails, today amtrak cuts its northeast corridor service by 60%. a number of other routes through pennsylvania and new york state will move to weekend schedules. >>> the red cross is warning the coronavirus outbreak could pose a threat to the nation's blood supply. blood drives are among the so-called large gatherings being canceled across the country so red cross is urging healthy people to make an appointment and donate blood. the only caveat is anyone who has traveled to china, hong kong, macao, iran, italy, south korea, postpone giving blood for 28 days. >>> we're learning major resorts in las vegas are closing. mgm is shuttering casino operations today and will

here's abc's rebecca jarvis. >> reporter: tonight, the coronavirus emergency is taking its toll on the american workforce. >> covid-19 is an economic tsunami. >> reporter: in san francisco, a city under orders to shelter in place, housekeeper larrilou carumba hasn't worked in two weeks. >> i'm a single mom of three, and i really don't know what i'm going to use to put food on the table. >> reporter: across the country, unemployment claims are soaring. in pennsylvania, 121,000 claims in two days. minnesota handling 2,000 claims an hour this week, versus 40 an hour just last week. and in massachusetts, nearly 20,000 claims on monday -- more than all of february. >> the last time for a while. >> reporter: among the hardest hit -- the service industry. at least 21 states have closed restaurants and bars to dine-in customers. christy oakes is a server in boston. >> because we do work on tips, a lot of us are left with little to no income. >> reporter: by one estimate, more than 9 million people could be affected just by bar and restaurant shutdowns alone. and david, if you've been laid off,

rebecca jarvis is outside the new york stock exchange with more. good morning, rebecca. >> reporter: good morning, robin. the dow at the new york stock exchange has opened more than 800 points higher after the worst day for stocks in 12 years. with the coronavirus already impacting our way of life, from work to school to travel, president trump promising big stimulus measures to help americans. >> we're going to be meeting with house republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief. we're also going to be talking about hourly wage earners getting help so that they can be in a position where they're not ever going to miss a paycheck. >> reporter: the president took no questions at the press conference that followed the worst day for stocks since the 2008 financial crisis. the dow falling more than 2,000 points. within minutes of opening monday stocks halted after plunging 7% hitting so-called circuit breakers, a safety mechanism meant to keep the markets from going into freefall. driving that volatility, th

our chief business correspondent rebecca jarvis tracking that all for us. good morning, rebecca. >> reporter: good morning to you, robin. we have seen a dramatic increase in unemployment claims. many jobs in services, hotels, restaurants, airlines, those employees are now on the sidelines and now while the money isn't coming in, they have to get their bills paid. er p arins could be in the range of $1,000 or potentially even more. it's unclear who would get the checks, but it's likely to be restricted with some kind of income c treasury secretary steven mnuchin said yesterday it's clear we don't need to send people who make $1 million a year checks. take a look at this. the stock market is significantly lower this morning. looking like it will wipe out all of yesterday's gains as hopes for a stimulus package are outweighed by fears of the virus. of course the price tag of the stimulus itself. $1 trillion. that will certainly add to our deficit. with the threat of a recession and significant unemployment treasury secretary steven mnuchin says the deficit is a

rebecca jarvis has more on these concerns and how to protect your privacy. eporter: hey, nice to see you again, amy. so, yeah, these video conferencing apps have become so incredibly popular as a way to bring people together remotely during lockdowns. hospitals are using them, universities, teachers are using them, families, businesses, but the fbi is now warning about a new phenomenon called zoom bombing, essentially when an outsider comes in and hijacks the conversation. they've seen it happen with schools and teachers, for example. a teacher in massachusetts was teaching her classroom when a hijacker came in, started shouting profanities in the middle of their meeting but can you protect yourself. here's what the fbi recommends. first of all don't make the meetings public. don't post links to those on social media. you can manage the screen sharing so that it is host only. that means no outsider can take over the screen sharing from you and finally, use the most updated version of the app. they recently did an update and with that update there are more pri

let's go back to rebecca jarvis with the latest on that. s, but we've spoken to a number of grocers and retailers, target, kroger and publix, who tell us those shelves will be restocked and replenished. it is a matter of time. this is why they are limiting the number of items you can purchase in certain categories like the nonperishable canned items and cleaning supplies. the issue right now is not the supplies. the supplies are in the warehouses and in the factories. it's a matter of getting those supplies to stores and store shelves. and now you see truck drivers, warehouse workers having to work overtime, doing many more deliveries than would be typical. typically grocers would get about two deliveries a week. now they're getting these deliveries every single day, and you have a number of stores that are changing up their hours in order to make time for this, lessening the amount of time that the store is opened, making special hours for seniors. that's something that stop & shop is doing and now amazon says that it will hire an additiona

let's go to rebecca jarvis tracking all the latest. orning, rebecca. >> reporter: good morning. the market overnight has stabilized a little bit, but there is an urgent need for help for so many people who have been laid off. overnight the president and senate signed into law a $100 billion stimulus plan for free coronavirus testing including the uninsured and paid emergency leave. plus there's help for families in there who need help with groceries and food. the terms of that trillion dollar stimulus, the one you have been hearing so much about, those are still being hammered out. the trump administration at this point is proposing two rounds of direct payments totaling $500 billion. those would begin april 6th and may 18th. they could be for $1,000 or more, those checks, michael. >> a lot of people feel like maybe they can't wait. what can someone do right now? >> yeah. so michael, if you have been laid off, you want to apply for unemployment immediately, and you can find out whether you qualify by searching your state on the departme

rebecca jarvis tracking it all from the new york stock exchange. good morning, rebecca. >> reporter: good morning, george. that's right. just as american families are asking this question, how might we deal with the coronavirus and the outbreak, wall street is asking that very question. how will the consumer respond? as consumers we make up 70% of the economy. our spending matters and businesses have already cut back dramatically from boeing to ford to amazon, all telling their employees not to travel. we've seen it reflected dramatically in airline stocks across the board. united, american, jetblue, all getting crushed. they have been waiving those change fees allowing people to cancel, but that hasn't helped as far as the stocks are concerned. and for the cruise companies, those stocks have been cut in half, and when we look at this virus and the impact it might have on the economy here, we can look to china and what's already happened there. u.s. companies with a presence there, for example, starbucks which does about 10% of its business in china

our chief business correspondent rebecca jarvis is back with what you need to know. d get a smaller check and families would get up to $500 for each child. we just learned from treasury secretary steve mnuchin about additional relief on taxes. tax day has been moved from april 15th to july 15th which means you don't have to file or pay that tax bill until then. now, if you do a refund, it's a good idea to file now so that you can get it back now. >> big news overnight about bank of america. they will allow their mortgagers to pause their payments. they're refunding certain fees but you have to be proactive. a number of banks and credit card companies are also doing this. i've heard from american express, citibank. they are letting their customers pause their payments if they're facing difficulties in this time due to coronavirus and this full crisis, and there are a number of wireless providers. at&t, verizon are letting people pause their bills without service suspensions if they are facing hardships because of the coronavirus. george? >>> coming up here, how thousan

and rebecca jarvis, 20% down in the market from the highs of february, since the start of this crisis. this week, a big drop. when wall street believed that congress would pass some measures, it jumped up. when they appeared to be stalled, it went down today. what is your reaction to the president's proposals tonight? >> if you look at the response in the futures market, it has actually been falling since the president's speech. and one of the things that stands out to a number of the economists and investors that i speak to is the idea that the president said this is not a financial crisis. but when you look at the stock market, now down 20% from record highs, and a number of economists calling for the potential for a recession this year, there are those who disagree with that. those calling for a recession at this point believe it would be short-lived, it would not mimic 2008. but many of them believe the fiscal stimulus, what the government will offer in response to the crisis, will be key in how long the severity of the crisis lasts. and in the message tonight, you had two sets of

want to go straight to rebecca jarvis there at the new york stock exchange. were looking for reassurance from president trump last night. they did not get it. >> no, george. that's right. this is now the second time this week we've seen this happen where the stock market has fallen more than 7% in these first few moments of trading and the circuit breakers have kicked in. these are like trip wires for the market. once the market falls by a certain level, 7%, the markets are halted for 15 minutes. so, literally, right now the markets are halted for the next 15 minutes while wall street gets back on its footing. the idea here being, george, to keep the markets from heading into freefall. and since last night's speech, what you have seen is a precipitous decline in the markets. we saw it in the futures markets last night immediately during the president's speech. so many here on wall street were hoping to hear for more. that's the thing i keep hearing from investors and analysts. they wanted to hear more, more certainty and clarity from the government, jorngeorg

rebecca jarvis has all the latest. good morning, rebecca. >> reporter: good morning, george.tory with more and more americans relying on instacart to fulfill those grocery orders. they're hiring 300,000 new employees to help deal with the increased demand. but the current instacart employees, those shoppers who collect your groceries for you, say they need additional protection to feel safe at work. they are asking for protective gear including masks, hand sanitizer and wipes. they would like $5 hazard pay per delivery, and they want the default tip setting to be set to 10%. now, instacart has responded as a company saying they will be providing those employees with hand sanitizer which the company is now manufacturing with a third-party manufacturer. they also are setting the default tip setting to whatever you last tipped. so if you tipped 15% on your last order, that's what the default will be. if you tipped 5% on your last order, that is what the default will be. george, they say at this point the instacart workers say at this point that is not enough. they're going on st

. >>> and that was really good information from rebecca jarvis because she talked about the two indicators trading which is what we're in right now. the first indicator is when it drops the s&p by 7% and the next indicator is 13%. hopefully we don't reach 13%. closed for5 minutes or paused for 15 minutes. we'll see if that break does anything to help out. >> it is the uncertainty. concerns about potentially going into a recession. so, we'll keep watching that and bring you the like getting the best everwifi experiencen. with wall-to-wall coverage-there's a win. plus, added protection for your connected devices. that's a win-win. put it together with xfinity mobile- the most reliable wireless network. talk about a winning combo. get xfinity internet and xfinity mobile for just $30 each a month. you'll save up to $400 a year on your wireless bill. plus get $300 off when you buy a new galaxy s20 ultra. now that's... simple. easy. awesome. click, call or visit a store today. we saw the earthquake grace in bold was offering a grant program. i signed up and i was actually selected it leaves the

i found on twitter from abc news chief raunt rebecca jarvis saying that each person with covid-19 affects just speaks to why it is so important for everyone to stay home. >> the study that you're talking about that came from london is so important. so scary to read, but so important to see the effects of what social distancing can do. it's essentially saying that we may need to be on a very long period of social distancing that cycles where certain cities are doing it and then other cities are doing it and i'm talking about the long term after we get after this initial wave that this is going to have to keep happening until they say, possibly, we actually have a vaccine that can treat a lot of people, which may be a year and a half away. >> they just started those trials in seattle and then to know that it can be 18 months before we get any sort of result is really interesting. >> yes. so, don't mean to scare people this morning, but just something to know and keep in the back of your head. this is not just a few week situation that we could be facing many months down the road. jobina, th

. >>> let's get some analysis now from abc chief business economic correspondent rebecca jarvis, firstn to what you just heard from larry kudlow? >> well, martha, first of all, i think the key question is, how long does this last? and what does the world look like on the other side? larry kudlow talked about that $2.2 million stimulus, eye-popping number, that stimulus is frankly to plug a gigantic hole the zero dollars coming into most american businesses right now, the zero dollars in the pockets of more than 3 million americans who were laid off last week, so when you think about these stimulus programs, plus the $4 trillion backstop from the federal reserve, it's to plug a gigantic void in the system and the question is, as we go through this, the longer we last in this void, what does the world look like on the other side? and i spoke earlier this week with the ceo of starbucks who's now been through this already in china, where they closed a number of stores. 95% of those stores have reopened and i asked him about traffic in those stores, because we know the world, when things st

rebecca jarvis talked to then c.e.o.kanfer in2019. >> my uncle developed a hand cleaner to get greece ofgreaseoff of working man's hands. >> reporter: then in the late '80s, finally the eureka moment. gojo perfected an alcohol-based hand sy skin.r that was pretty but just what do you call it? >> i wanted to name the product flash because i was so excited it worked in a flash, i thought, and i thought i was being quite clever. >> reporter: in the end, purell, as in pure, won out. gojo actually lost money on purell for years, until 2002, when the c.d.c. determined that alcohol-based products were indeed affective in cleansing hands. today purell really isn't a luxury. most families wonder what they would do without it. vindicating in a sense what joe kanfer told us years ago about the virtues of having your own company. >> i probably would have been fired if i was working for anybody else. but eventually it paid off. needles. essential for the sea urchin, but maybe not for people with rheumatoid arthritis. because there ar

we want to go to rebecca jarvis right now. rebecca? >> reporter: george in the first moments of trading stocks plunging more than 7%. they had to be halted for 15 minutes to avert freefall. the selling continues now with new announcements coming from so many companies halting operation including princess cruise line who said they will be halting all their ships for the next two months. that's staggering for an industry. the airlines have been some of the hardest hit as have the small businesses. here on wall street the question remains how will the policy measures help with this crisis and how much deeper will the crisis become, george. >> that's one of the huge questions this morning. let's go to washington with cecilia vega. will republicans and democrats be able to agree on a stimulus package to get the economy moving again? good good morning, cecelia. >> reporter: after minimizing the impacts of the coronavirus, president trump is now calling this a horrible disease saying americans should take every precaution to stay safe. in an

we'll go to rebecca jarvis on wall street with the latest. good morning, rebecca. >> reporter: good morning, it's been one of the most dramatic weeks in history for stocks. wall street now coming to terms with the new normal, how we now live our daily lives in light of the coronavirus. the good news this morning is that stocks opened significantly higher, surging 5% after the opening bell as wall street has high expectations for what's to come out of washington. the white house and congress looking much closer to an economic stimulus package that could help cushion some of the blow of the coronavirus and its economic ripple effect on the economy. still, many uncertainties remain but the optimism here is a good sign, george? >> okay, rebecca, thanks. >>> let's go to the white house with terry moran, and terry, we have a new poll out this morning showing two-thirds of americans worried about the outbreak, and more than half disapprove of how the president is handling it. it's pretty clear the oval office address did not provide the kind of assur

let's go back to rebecca jarvis with the latest. aggering and unprecedented. 3,283,000 americans filed for unemployment last week, a record for history. so many americans have now lost their jobs as a result of this outbreak and the shut doidowns across the country. fed chair powell saying the ammunition is there to fight this. but for so many american families waiting on that stimulus bill, those checks, the need is urgent. even if this plays out as a terrible winter storm, the need today is to pay those bills by april 1st for so many families. george? george? >> thank you very much, rebecca. michael? >>> coming up, everybody, how nba superstar and philanthropist russell westbrook is giving back in a big way. he will join us live. >>> also this morning, "deals & steals" is bringing you big bargains to help you get a good night's sleep. plus, we are helping out some small business owners. >>> and julie andrews will join us live. we cannot wait for that. we'll be right back. for that. we'll be righti back. ♪ ♪ this is gonna be america

here's rebecca jarvis tonight. >> reporter: we reached out the small business owners across america away the homeland? >> my eight main suppliers are currently closed. >> my other vendors are having delays with some of their factories zblchlkt the impact has been 100%. we're not able to ship. >> from toys to clothing to gardening supplies, companies across the country rely on chinese factories, now shut down by the outbreak. >> about 80% of our companies have something in them from china. >> the great majority of the goods in bridle are manufacture in the china. things are taking longer than ever. >> reporter: our greatest concern is not the day-to-day sales being lost it's losing customers. >> reporter: the consequences have been devastating. >> we're estimating $5 million in losses. >> china's our sole supplier. made in china. having not received product in the last seven weeks we can't invoice anything to our customers. >> reporter: becky is the -- shop for ties. >> my dad started it in 1982 in the basement. >> looks like we'll finish off quarter one 30% to 50% below quarter one last

rebecca jarvis is here with more on that angle of the story. ca. >> it is unfortunate. if you've tried shopping for soap, hand sanitizer or a mask, even though our very own jennifer ashton, dr. jennifer ashton, says that the average person shouldn't be using those masks, there is a run on all these products and the price gouging has begun. endless lines, empty shelves, sold out signs, in the post coronavirus world, this is our new reality. purell, the new gold standard, the hand sanitizer suddenly one of the most sought after products in the world but how far are you willing to go to get your hands on a bottle? on amazon listings for a two-pack going for $84.99. if that wasn't steep enough this seller advertising one bottle for $107.99. the markup on the n95 masks nearly 600% even though the surgeon general has urged the public to stop buying them. this one on amazon cost $200. a few weeks ago they were around 13. california's governor gavin newsom tweeting out, seriously amazon? these prices are absurd. amazon taking action saying it will crack

rebecca jarvis joins us from the new york stock exchange. od morning, rebecca. >> reporter: good morning, george, and we are looking at another volatile day here on wall street, but perhaps today a more positive one. the dow jumping 200 points opening this week. in just five days, the dow fell more than 12% with wall street eyeing the coronavirus and its uncertain impact on the economy here in the u.s. we have already seen so many companies responding. over the weekend, nike just to be safe, shuttering its worldwide headquarters in oregon for a deep cleaning. a number of other u.s. companies have responded by restricting travel for employees. nike closing their campus. twitter, amazon and jp morgan among the companies who have restricted travel for employees, telling them if it's not essentially, do not get on an airplane in the near future. in los angeles at the port, they have now seen traffic decline for the month of february, t.j., by 25%. >> wow, rebecca. thank you so much. >>> we turn to overseas where the spread of the virus is causing

we want to go to rebecca jarvis. this came despite the rate cut from the federal reserve?> reporter: that's right, george. the sell off since stocks have reopened has continued despite the fact that the federal reserve took emergency action last night cutting interest rates to near 0% in a coordinated action with central banks around the world. goldman sachs thinks the gdp will be at its lowest level in 30 years. so many questions about the impact on the economy. >> this just beginning on wall street. there's been a cascade of closings all across the country. >> reporter: new york's mayor say these closures are meant to save lives. this morning, extreme measures across the country to try to slow the pandemic. the cdc now recommending no gatherings of 50 or more people as top health officials warn it could get worse before it gets better. >> the worse is yet ahead for us. >> reporter: president trump urging calm, asking people not to hoard those household essentials while many store shelves across america are wiped clean. >> there's no need for anybody in the country to hoa

want to go straight to rebecca jarvis. this is caused by concern over the coronavirus spreading and an oil price war between saudi arabia and russia. >> reporter: that's right, george. within four minutes of training the maskt had to be halted. it was down 7% at that time. the market gets halted to prevent a free fall from happening. since stocks have reopened the dow at one point was down as many as 2,000 points. it's come back from that number, but wall street is watching. they're watching oil prices which are down more hand 20% today in the wake of that price issue with saudi arabia. following an emergency opec meeting where it was meant to stabilize oil prices, saudi arabia cut prices and sent tre pores throughout markets around the world. in the u.s. we employ 6.6% of the energy inspector and there were real concerns. the coronavirus has been weighing on markets for weeks. george? >> thank you, rebecca. >>> we begin with those 3,500 people still on the "grand princess" choose ship off the coast of california. at least