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 between gains and losses, and even with these advances, keep in mind, earlier, the s&p was advancing

shery: i am shery ahn and new york. sophie: i'm sophie kamaruddin in hong kong. we are counting down to the market open. haidi: here are the top stories we are covering. the imf is calling for global cooperation to fight the coronavirus. it is ready to tap its trillion dollar lending capacity to find a solution. president trump changes his tune on the outbreak. he has repeatedly downplayed the danger but is now telling americans, it's bad. the infection adds to the oil slump. shery: let's get you started with a quick check of the markets. we were seeing earlier losses gaining three tents of 1%, but it's still early in trading coming off the worst day again since 1987 and losses accelerating and falling to session lows. president trump talked about economic disruption lasting well into the summer. the dow now falling to the lowest level in two years. losse talking about a 30% since the peak in february. we are seeing the downside pressure with the s&p 500 index. every sector on the s&p in the red with losses of at least 7%. financials and real estate leading the d

shery: live from bloomberg world headquarters in new york, i'm shery ahn.me to bloomberg markets. here are the top stories we are following. the federal reserve slashing interest rates by a full percentage point to near zero, promising to boost its bond holding by at least $700 billion. those moves going to stop the route in global markets. plunging by the most since the 1987 crash, triggering circuit breakers before reopening, with losses of 10%. stocks now looking to rebound off of those lows but we are still done more than 8%. and the response from central banks around the world. how global policymakers are reacting to the spread of the coronavirus and its economic impact. that conversation is ahead. let's get a look at market action. kailey leinz is with us. obsession those but a pretty steep decline. kailey: good news and bad news but we are still down 9% on the major averages. this moving the equity market coming because of our in spite of the fed? that is the question. you are seeing decisive action in the bond market. the 10-year yield now at 74 bas

shery: thank you.has thrown more than 100 billion dollars of stimulus at the coronavirus, but is it the right stimulus? we will hear from corporate financier at neu capital, which is a stark warning for the economy. this is bloomberg. ♪ ♪ shery: -- haidi: the australian economy had troubles before the coronavirus, and now companies are cutting workers by that thousands as the virus hits markets. rba hasrnment and the unleashed more than $100 billion in fiscal -- in fiscal and monetary stimulus. neu capital director edward jones joins us. tell us what you are seeing thet the rescue package in transmission mechanism? multipleeeing announcements so close together with such large dollar figures across monetary and stimulus tells us the situation is changing rapidly. the government is trying to get ahead of it, but it is an unprecedented demand and supply shock, and an erosion of trust in credit markets. we are expecting this to get worse. we saw the horrible jobless claims data from the u.s. overnight, and

shery: i'm shery ahn in new york. mode.ts in somewhat credit fears hitting crisis levels after steps taken by the ecb and president trump failed to ease investor concerns. joining us for more market analysis is claire boston and chief equity strategist gina martin adams. let me start with you, claire. are we seeing a meltdown in the credit markets? claire: it is not getting any better in the credit markets. wethe investment grade side are seeing the worst day for cx since 2011. high yield is not much better, the ugliest since 2012. investors seem to be pretty concerned, not sure where the bottom is. we are still seeing particularly energy, travel credit, anything exposed to the virus, taking a hit e. amanda: as we watch this downdraft across the board, feels like there is a lot of momentum. for every seller there is a buyer. do we have a sense of who the players are in the market that are buying in these sessions? of buy, to whole lot be honest, considering the meltdown we had over the week. i will say some of the themes th

shery: and i'm shery ahn in new york.ours away from super tuesday, when 14 states will hold democratic primaries. the shape of the field has changed, with joe biden winning in south carolina while amy klobuchar and pete buttigieg have pulled out of the race. we are joined by greg. we have seen this heavy win by the former vice president. up againsttacking senator sanders going into super tuesday? steyer and pete buttigieg and amy klobuchar getting out of the field helps the former vice president because it helps him consolidate some of the more moderate support in the democratic party. he was in danger of not being able to get delegates in some key places. head2head withgo bernie sanders. it is still sort of an uphill swim for joe biden because the states that are voting tomorrow are still very much favorable to bernie sanders. for our non-u.s. viewers, can you explain briefly how it works tomorrow and what happens if it ends up being a really tight count and nobody comes out as being the obvious most supported candidate?

shery: japan and south korea not open in an hour. i'm shery ahn in new york. sophie kamaruddin in hong kong. welcome to "daybreak: asia." haidi: our top stories, the coronavirus outbreak is officially a pandemic. infections have topped 120,000 with at least 4300 people dead. the fear index is at a record. the ecb says governments must do more. she warns of an economic damaging as the financial crisis. shery: italy is taking drastic steps to contain the worse infection rate outside china. all businesses other than supermarkets and pharmacies are ordered to close. markets have opened for trade. let's turn to sophie for what to watch. sophie: sidney stocks opening in the red, extending into the bear market territory. seeing more pain cutting its year and asked to 6100 on expected earnings pressure. downside moves for kiwi stocks. extending the decline from its february peak by over 12% with physical response anticipated from the new zealand government, along with other policymakers around the world. the devil will be in the details when it comes to those plans fr

shery: i am shery ahn in new york.he ecb and the bank of england, saying it provides much-needed stability across the continent. spanish finance minister -- said nation spaces her to consider additional fiscal support. an auction of spanish sovereign debt, and reaction of the markets have been very positive. we had over 10 billion, almost 11 billion demand. interest rates have gone down. moment, i think that the action of the ecb has provided the needed and appropriate stability to take the right decisions. due to the reinforcement of containment measures in our country, we started to see an impact which was quite significant in terms of the economic and social movement, dynamism of the country, and we need to be able to take the right decisions in an environment that does not generate more stability, volatility, and anxiety at the end of the day. >> do you worry that further down the road, if spain decides that it does issue now, that it does expand now, that there will come a point where spain ends up being punished

shery: thank you. of a month on shutdown of schools in japan, prime minister shinzo abe dealing with the crisis that threatens the economy, the olympics and his own legacy. joining us is the former japanese ambassador to the u.s.. always great having you with us. good morning. >> good morning. shery: we are seeing increased criticism about his handling of the coronavirus outbreak, whether that foreign gene the authorship in yokohama for the -- cruise ship in your obama or the limited testing -- ,> as you have learned already 960 people are infected. 700 of them are from the cruise homethat was at you go which was a british ship -- yokohama which was a british ship managed by america. , aboutan 300 japanese 250 are affected. people really look at the cruise shipthe whether it was correct or not. you have these views and also taking the necessary steps in the outset still to be discussed. but now they have stepped up his measures and -- i think what we are trying to focus is that we get all of the majors

shery?ick check of the markets right now because we are seeing australian stocks at its lowest level since may of last year, falling 1.6%. every sector right now is in the red.financials and tech firms are leading the decline . kiwi stocks under pressure. new zealand central bank is in the minority of asia-pacific central banks that have really refrained from interest rate cuts. although we have another meeting at the end of the month. nikkei futures higher by 6/10 of 1%. this despite the fact that japanese yen is stronger at the moment. we have seen the best stretch of gain since february of 2016. u.s. futures gaining ground after a really risk off day that we saw on wall street with those stocks plunging and havens soaring. let's bring in mark cranfield. asian markets with a bit of a mixed picture, although i do wonder what happened in the u.s.? we have such strong gains and then a truly risk off day. i don't see anything specific in the markets other than more coronavirus cases and deaths

shery: i'm shery ahn in new york.g news, brevan howard's fund is set up for a record month with 17% gains during this market rout. we are hearing the fund has gained through march 20 according to a letter seen by bloomberg. they are set for a record month with 17% gains. we know that the $3.2 billion fund has returned double-digit growth, despite the market downturn. we have seen macro hedge funds like brevan howard shift through its global economies. it seems to be paying off. let's turn to target. it is dumping its full-year sales and profit forecast underscoring the difficulty retailers face in navigating the unfolding coronavirus crisis. joining us by phone is matt boyle. this, despite the fact that target actually saw soaring sales are soaring march. how bad are things looking? matt: the sales are soaring but there is absolutely no way for them to forecast demand and what is coming in. we are seeing the stories everyday about toilet paper hoarding and shortages. targeted -- target has thrown up its hands and say

shery: i'm shery ahn and bloomberg's world headquarters in new york. we are counting down to china's major market open. paul: here are the top stories we are covering in the next hour. president trump invokes special powers to boost u.s. virus intervention and prevention as global infection cases top 200,000. the apb holds an inch -- an emergency meeting. a chinese pharma company wins approval for human testing of a vaccine. governments around the world starting restrictions to slow the outbreak. the virus threatens to weaken china's economy even further. our review of the latest for the slowest and the end of the cultural revolution in 1975. shery: let's get you started with a quick check of the markets close. it was another down day. the rebound we saw in the previous session, we are talking about the s&p 500 and dow and nasdaq all going down the s&p 500, every sector was in the red. energy was the biggest decliner. oil sinking to a 19 year low. when it comes to the dow, losses of about 36% since the peak in february. we continue our way down. we've

this is bloomberg. ♪ shery: this is daybreak asia. i'm shery ahn in new york.sydney. the latest headlines, apple is weighing the delay on the release of its 5g iphone. the nikkei news reports the coronavirus is sapping demand and disrupting the supply chain. development of apple's next product is being hampered in california. a source said apple will make a decision on the release of the 5g iphone in may. shery: netflix is reducing video quality in india and some latin american countries to meet surging demand during the coronavirus crisis. net fix -- netflix is the biggest internet traffic in the world after youtube, which reduced quality this week. governments are concerned about conserving internet access for the hundreds of millions of people stuck at home. s&p global ratings of her coronavirus pandemic delivers a shot of the -- a shock to the global auto industry. s&p shares in may cut further. global carmakers are being fall ino brace for a sales. ihs market says deliveries will plunge more than 12%, to around 80 million, 10 million below its january esti

shery: i'm shery ahn in new york. breaking news.e hearing that at&t is in banks for a new term loan of roughly $3 billion. this as we continue to see rising funding cost. they will explore funding option to help the company navigate those rising cost in the market for short-term ious, according to people familiar. the latest financing discussions coming as the company seeks to pay down one of the highest debt loads of any nonfinancial company in the u.s. again, seeking a new $3 billion loan amid rising funding cost. under a lot ofy challenge is the restaurant injury -- industry, in the face of the coronavirus up right. the national restaurant association, representing half a million restaurants in the u.s., sending a letter to president trump and congressional leaders asking for relief measures. the interim ceo of the group joins us now. great to have you with us. do you have a sense of how big of an impact the industry will face from all of this virus containment measures? marvin: thank you for your time. we think it will be incred

shery: i am shery ahn in new york.." ♪ haidi: our top stories, the fed sweeps into action, slashing to near zero to save the u.s. economy from the virus. president trump says he is very pleased. cases continue to rise in the west with more countries imposing a lockdown. beijing says mainland infection rates are falling rapidly. the virus continues to wreak economic havoc. upcoming data could show -- for the first time on record. japan and south korea coming online. let's get to the market action with sophie. sophie: the nikkei 225 gaining more than 1%. this was the worst week for japanese stocks since 2008, and the boj will be holding an emergency meeting today. let's check in on what is going on and south korea this morning. officials say that quick moves will be taken. the korean won trading about 12.10 this morning, the kospi holding. -- aussies stock hit hard. commodities, gold getting ground, brent headed toward $32 per barrel. earning forecast for asian energy company slashed by about 14% since the outbreak began

and i'm shery ahn in new york. u.s.asury secretary steven mnuchin says he hopes to provide $200 billion or more in liquidity by delaying tax payments. this as the trump administration mulls extending the tax filing deadline to be on april 15 to provide economic relief on the coronavirus outbreak. the washington post is reporting that the president might give a noble office address tonight. let's go to our bloomberg tax reporting, joining us in washington. nowhere near what was promised in terms of major substantial of what isures, but being proposed by steven mnuchin, how would that help? >> they would help some, particularly for businesses facing cash flow issues. this gives them a couple months, we do not know where the extended deadline would be, but a next her time to pay their tax bills, which would be helpful, particularly if they do not know what the business might look like in the next several months if people are not dining out, staying home, essentially social distancing. amanda: really quickly, how soon do we

shery: is that enough to keep chinese markets afloat?have been performing incredibly well this past week, but today we are seeing the pressure. sean: if you were away on holiday and had not looked at your screens are bloomberg over the last three months, you would have thought why is china not down more? because of thee response. companies last year, the revenues were growing, so they were trying to cut costs. earnings will clearly go down, we lost a quarter of gdp effectively and it will take more time for confidence to come back. even though we have production coming back by the end of march and beginning of april, i see people -- i cannot see people going out and flying, going to movies, going to restaurants, that will take a long time to get back. what is really not held up is the cyclical side. and whether it is turkey or south africa with domestic issues helped the currency go lower, but places like russia were you have oil price shock. and recently brazil. maybe this recovery in china, which will take some time, the lower the gdp

this is bloomberg. ♪ shery: this is bloomberg markets. i'm shery ahn in new york.nda: i'm amanda lange in toronto. the world seven busiest ports in halted, president trump debating whether to -- cutler,hington is wendy from the asia society, former u.s. trade negotiator. good to have you with us. i want to start with that suggestion that the talks are ongoing. how important would that be to keep the flow of trade going? wendy: it is so important to keep trade moving now. a lot of essential goods are needed in countries all around the world, not just medical equipment and supplies, but we are talking food and other products, just critical for everyone right now. so open trade is critical. inry: what have you seen terms of global leadership when it comes to keeping the trade lanes open? >> frankly, it has been disappointing, although the g20 a few hours ago issued their statement, and it did have some useful leg which about the need to work together, the need to take collective action, and it did underscore the importance of trade. however, it just was not the kind o

shery: what do you think?his spooked the market, given how active all these banks have been? michael: i think this will put a floor on the market tomorrow. we saw a big rally when president trump came out friday and announced a whole bunch of things that turned out not to be true. the possibility was we would see another sinking market. thatmay be one reason central banks are trying to get in front of it. at this point the market will probably be in a good mood going into the day. the question is what kind of development will we see during the day. markets are reacting both to what is happening in the economy and the idea of what happens to earnings down the road, and also to the headlines about the disease and where it is going. so if we get some bad news on that score, we might see the market turnaround. i suspect this will be viewed as good news because this is what everyone has been asking for. the fed should cut rates to zero. well, they went a lot farther than that today. there will not be much more to a

shery: thank you. let's stay on markets.heck of how markets are trading at the moment. we are seeing australia open for about half an hour. we have seen almost every sector in the red. we are seeing tech and energy leading the decline. we are seeing oil reversing two days of gains. oil has been largely insulated by the broader market declines. we have heard from an opec plus committee indicating a larger supply cut. the asx 200 at the moment of the lowest level since june as we continue to get more headlines on the coronavirus outbreak. just from the nih, we are hearing from dr. fauci that he is confident china is providing accurate data on the coronavirus outbreak. when it comes to nikkei futures, under pressure, 8/10 of 1%. u.s. futures falling 3/10 of 1%. this after the fed's first emergency cut since the financial crisis fell flat. let's discuss this and bring it david ingles. what was really interesting was when we were heading into chair powell's presser, we were up about half a percent of the s&p 500. as soon as he wa

romaine: shery ahn giving us that update, our thanks to her. be safe.ck on the latest headlines. ford has canceled -- canceled plans to restart factories in the u.s. and canada over the next few weeks. establish newg to safety procedures with the united union. speaking of auto parts, a takeover may be in jeopardy. warner may be backing away from the deal for delphi technology. delphi drew down its credit line fromut getting permission its creditor. cruise line operator carnival is turning to all corners of the market to raise $6 billion in cash. it is being marketed with coupons of about 12.5%. it is the biggest test yet about investors willingness to finance industries hit hard by the covid-19 outbreaks. that is your business flash update. scarlet: coming, new york state governor andrew cuomo says a storm is still coming for the state. joe weisenthal is watching this grim projection carefully. this is bloomberg. ♪ live fromroadcasting new york to our viewers worldwide, this is "what'd you miss?" i am romaine bostick, broadcasting alongside my cohost sc

. ♪ shery: i am shery ahn in new york. >> you're watching daybreak australia. ceo, effective immediately, he was serving as whenim chief since august the chairman ousted the previous boss. he takes over at a dickel time for banks amid the rising forecasts of recession. singapore's ocbc bank says it expects muted revenue growth this year because of coronavirus. the ceo told bloomberg, the bank is in the strong position in terms of capital funding and liquidity. and that he expects to quote this. of turbulence well quote. by second largest lender assets. he has no plans to suspend the dividend. retailere online planning to repurchase $2 billion -- up to $2 billion of its shares of the next two years in a buyback that represents 4% of its current market value. jd says purchases will be made ad hoc at market price with existing cas -- cash to on market conditions. the most recent buyback was $1 billion in the summer, 2018. bycoming up, will be joined hubbard kennedy school of government professor reinhart. more ahead in the next hour of daybreak asia. for bloomberg

t >> sheri fink "new york times," dr. irwin redlener, we thank you both.nk >> tou.>> woodruff: it is a time of enormous disruption in america,e and all aroundorld, as many of our daily routines are being upended. beyond the cancellations, medical questions and financial turmoil, there is fear and many other concerns. jeffrey brown takes a closer look at that. >> brown: the thoughts a unavoidable, whether you're eager to get a test, seeing the empty shelves the grocery store, concerned for your children and loved ones, or watching events unfold elsewhere. david desteno studies emotions in times of stress and trauma. he's a professor of psychology at northeastern university in boston. so welcome to, emotions are clearly high, kno,wled arguably, is low. what does that combination add up to in the behavior you're seeing now? >> unfortunately, it's a perfect storm for us right now. the reason we have emotions is to holp us c to adaptive decisions very rapidly, but wheh e emotions are mialibrated or when the context is wrong o especially now when we have a few clear facts

shery ahn in new york. & johnson surged 8% in the previous session after the company signed a $1 billion deal with the u.s. government to supply and manufacture a vaccine against the coronavirus. earlier, the ceo told us when he expects the first batches of the vaccine to be available. >> we're very hopeful, as we look at our early data, that in these cases tend to be quite correlated with what we would expect a seat as we take this into human testing in september of this year. but we also know we need to complete those other trials. we will be doing that. at the same time, we are going to be ramping up production. willl will have -- we have global production in europe and the united states. weak spec to be in position by the first quarter to have a much better perspective on vaccine itself. on the kind of quantity we would have available. our goal is to have hundreds of millions available by that time. and obviously, to work with regulators and other people around the world depending on where the coronavir

shery: renew that next -- bring you that next.op of the next hour, plus signs the virus may intensify ideological differences between china and the u.s. we'll discuss. this is bloomberg. ♪ market haves major just opened for trade. shery: good evening. sophie: welcome to daybreak asia. haidi: our top stories this friday, asian markets sector slump again, entering a bear market. investors are not impressed with the strategy so far. the philippine capital put a lot down as the infections read. it will affect 12 million people and last until the middle of next month. declaring it a special disasters a. the city where we have seen the hotspot. an ugly week for asian stocks continues. losses of more than 2% in tokyo while the yen is just holding with volatility remaining elevated for the japanese currency. kospi.heck in on the steep declines. to the lowestex levels since october 2011 and impact the most as the is strongly considered. we are seeing declines in sydney with qb stocks falling the most. we are seeing aviation stocks under pr

shery: this is interesting. president trump initially said he wanted to reopen the economy by april 12. now he is saying the social distancing guidelines will be extended to april 30. in fact saying we might see the peak extent of the virus during this period. take a listen. thate modeling estimates the peak in death rate is likely to hit in two weeks. so, i will say it again. the peak, the highest point, of death rates. remember this. is likely to hit in two weeks. shery: president trump is still optimistic that we might expect to see recovery by june 1. stil the picture is griml,. talking from dr. fauci potentially 200,000 deaths across the u.s. birxard also from dr. saying even with mitigation 160,000 80,000 to succumbing to the disease. taylor: are you there? haidi: in the meantime, president trump continuing to blast states. there are supplies but some are not getting through. what kind of accusation is he making here? shery: we have seen this growing tensions since the outbreak between the federal governme

shery: thank you very much for your time today.the markets and economy because investors are saying the response to the coronavirus pandemic might be too extreme. "theld guess to tweeting world has legit lost its mind. we are going into a global depression. i maintain what i said before, hysteria is worse than the virus." our portfolio manager joining us on the phone. michael gayed, great to have you here. we have not seen a moment in time in history where the whole world has come to a standstill. the biggest economy in the world, the united states, slowly shutting down. butave the 2008-2009 crisis that came from advanced economies. why do you think this is not a justified response? so, i have been telling investors in my neutral fund -- which went into treasuries before all this happened -- i've been telling subscribers and followers on twitter that this is a wildly disturbing time. but this is perversely good that we have an economy. i can assure you that if this truly is an economic depression, the fed and central banks around t

shery: what about tech?ector that rallies a lot. >> so my thesis is if we start to normalize and get a rebound in the market, money will also go back to the strongest names that were there before. the risk is at one point the s&p got up to 18% and five tech names. we have to broaden the view of tech and not just in the fancy five. haidi: at what point are you going to be interested outside of the u.s.? we are seeing valuations coming down elsewhere in the world. even in australia, the price targets trading for the asx is lower than most targets we have seen but it does seem to be the sense of until we know what the certainty is as to the extent of this outbreak, a lot of people are not buying it. at the firm on a static basis, our asset allocation has about a 40% allocation to international. i run some of the practical money where i've been underweight international. specifically international markets at the beginning of the year way cheaper than the u.s. market, but the whole demand issue is being caught in

shery: thank you. india is a big importer of oil.counting down to the open of the session there. our reporter is standing down in mumbai. what is it looking like today? some green on the screen, so that is positive. a slightly better start compared to last week when there was incessant selling that drops the index down to levels we have not seen any while. you can expect an opening gap. with the indexd losing almost 7.5%. the currency last week also has been weakening. that, the gdp numbers came out on friday. quarter four is where much of the pressure will come. it could be lower than 5%. haidi: some indian oil companies are already feeling the impact. what are you watching? we have been getting monthly sales numbers from much of the organizations here in india. that had relatively less impact. the biggest loser was an auto group. this could continue into the next few months. sales numbers were down 32%. china is the first market for that. haidi: thank you so much. indian markets are coming online in the next hour. a week of politic

shery: here in the u.s.have heard from the vice president, and from the cdc that perhaps the window for fully containing the coronavirus has passed. it's a mixture of containment and mitigation as well. what do you think of what is happening here in the u.s., given that we have such a high mortality rate, considering the number of confirmed cases still remains pretty low. raina: i think the high mortality rate is very much skewed by the nursing home outbreaks in washington state. a lot of the cases have been connected to those nursing homes. age care outbreaks are clearly a high risk, and were seeing one in sydney as well. i don't believe the window for containment is closed. mathematically when you work it out, i don't believe it is everywhere. i think it is still localized. the question is, do we have the resources to implement the nonpharmaceutical decisions that we have made, which are to find every case quickly and isolate them, and to track all the contact. we need to track roughly 10 times as many con

taylor: our thanks to shery ahn. and toronto, this is bloomberg. ♪ is 2:00 in new york, 7:00 p.m. in london. this is "bloomberg markets: the close." i am scarlet fu. romaine bostick will be with a shortly when we figure out a couple of technical difficulties. i want to point you to what is happening in the markets. we see a rebound continuing from last week. stocks gained last week. despite a pullback on friday, we have resumed the advance. the s&p 500 and nasdaq have been positive from the get-go. the dow dipped negative briefly. the dollar firmer as well. against theloser greenback include the mexican peso and south african rand unconcern a number of countries may downgrade. fitch downgrading the s

good morning, sheri. >> good morning. >> sheri, how long have you been on that ship and when exactlying off? >> well, we got on the ship to begin our cruise on february 21st. yeah, 21st. and we are hoping to get off today or tomorrow. >> and, sheri, how are you not going crazy? what have you been doing for these days and weeks? >> well, since we've been confined to our room on the 5th at 2:00, we've been drinking wine. when the weather's nice we have a balcony so it's been nice we've been able to go outside, get a little fresh air, talk to our neighbors on their balconies, watch movies. they've brought us activity kits with crafts, brain teasers, playing cards. watching tv. >> puzzles. >> what did he say? >> he said cribbage, picture puzzles. anything you can do to pass -- >> i'm curious, how much wine have you gone through? >> bottles? we were getting bottle service for a while. then it went down to two glasses per person, now it's one glass per person with you call. so we've bun the wine and switched to vodka so we can get a couple shots as well. >> they're really trying to wean yo

shery: u.s. numbers look really grim.global numbers for americans is at least 156,309 as of monday afternoon. deaths, 2990 to seven and counting. president trump now saying there are challenging times ahead for the next 30 days. ventilators are being sent to michigan, new jersey, and l.a. ford will produce 50,000 ventilators in the next 100 days. this is a key issue when it comes to really dealing with the medical services and the search urge oft -- s coronavirus patients in the u.s.. they are adjusting to the surge in patients. we have 66,000 confirmed cases of coronavirus. when it comes to stay-at-home order's, we are seeing those being expanded across the country. we are seeing maryland, virginia, extending their's to june 10. here's what president trump has to say about a potential national lockdown. pres. trump: we have talked about it. you know, obviously, there are some parts of the country that are in far deeper trouble than others. if we do that, we will let you know, but it is pretty unlikely at this time. the q

i want to bring in shery ahn on the line from new york. let's start off with the u.s.e will try to get back with shery in a moment. taylor: some of our asian markets to come online. we will have much more next. this is bloomberg. ♪ that is getting back to what i am saying. we can influence this to varying degrees and if we influence it to the maximum, we do not have to accept that. it is something that we need to anticipate. we want to do much, much better than that. >> if you have full mitigation? >> that was full mitigation. 100,000-200,000. that is a lot of people. you did not ask the other question. this is a question i have been asking dr. fauci for a long time. would haven is, what happened if we did nothing? there was a group who said let's just ride it out. at 1.5mber comes in million people up to 2.2 million people and beyond. i do not think that would have been possible because you would have people dying all over the place. this would not be the normal life. he would have seen people dying on airplanes. you would see people dying on hotel lobbies from a prac

shery: hong kong financial secretary paul chan.ring in the chief greater china economists at alliancebernstein joining us from hong kong, mo ji. thank you for joining us. when do you expect to see a bottom for the hong kong economy? even if the coronavirus outbreak peaks, we could be facing more and more protests. >> absolutely. this is just on and on. it's not only about the travel ban, but also because china's economy is decelerating. for hong kong itself, it very much depends on the chinese economy. you wouldn't see any of this economic slowdown peaking anytime soon. i wouldn't even say for 2020. shery: if you are looking at china to see what happens to hong kong, what are you looking at to gauge the recovery in china? we keep getting all these numbers by authorities in china about high work resumption rates, but i'm not sure how much we can trust those official numbers. >> i think in terms of the resumption rates, there might be some kind of misleading thing because it doesn't mean an effect it would be ok. it may be the machin

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thank you to shery ahn. the university professor and former bank of japan board member joins us to break down the latest business survey. next, katrina dudley with opportunity in market dislocation. this is bloomberg. ♪ haidi: you're watching "daybreak asia." tomany is being warned expect more damage from the coronavirus pandemic then it saw after the global financial crisis. an economy minister says declining gdp growth is likely to be worse with the government pouring more money into the economy than 11 years ago. the upheaval triggered by the coronavirus has led to the worst orderly loss on the dow jones since 1987. the index tumbled from march, closing within the tree percent fall with all but one of the 30 members ending lower for the year so far. the s&p 500 fared a little better while the nasdaq fell the least among the major indexes. the worst hit is the russell 2000 which plunged most since 1979. parametersidened the of people it has for the coronavirus, including those who show no symptoms but are

shery: very surprising.s this just that we are not seeing as expensive testing as we are seeing in asia? south korea testing up to thousands of people per day. we have around 90 cases in the united states. you mentioned the new york city woman in manhattan in her late 30's. she tested positive. she is a health worker. she is currently isolated in her manhattan apartment. i wonder what that means if she is still in that apartment. we have seen cases in asia where we have seen residents from one floor catching the virus first, than someone from another floor. governor cuomo coming out and saying he fully expects a community spread in new york but the fact that new york is now able to do its own testing is a positive. the woman was confirmed in a lab in albany. they sent the results to the cdc. scarlet: microchip technology cutting guidance, withdrawing previous eps guidance. sales would be about flat for the quarter. they were previously seeing an increase of about 2% to 9%. 1.3%ne: micron down about in after-

shery: we are seeing the impact in the u.s.e have been talking about those issues in asia already. the u.s. chamber of commerce coming out. travel leaders coming out saying, do not panic. not to overreact. we have seen airbus say they are theing a 330 output cuts as virus is starting to hit their customers. another issue people are starting to talk about is what sort of insurance coverage those businesses could get given we could see more lawsuits because of deadlines not being met. romaine: our thanks to shery ahn. now we want to talk about some of the market reaction. some insight into how the markets are responding. ben emons joining us. the market reaction seems to be relatively domestic. sense thatere is a government whether it is in the central bank of essays or in the low bakers offices, somehow they will manage to contain the economic fallout. are you seeing that play out? ben: it is playing out that way. you can look at it the way china approached containment. it pumped a lot of liquidity into the system. the stock mar

shery: i am shery ahn and new york. sophie: i'm sophie kamaruddin in hong kong.own to the market open. haidi: here are the top stories we are covering. the imf is calling for global cooperation to fight the coronavirus. it is ready to tap its trillion dollar lending capacity to find a solution. president trump changes his tune on the outbreak. he has repeatedly downplayed the danger but is now telling

shery: i'm shery ahn and bloomberg's world headquarters in new york. down to china's major market open. paul: here are the top stories we are covering in the next hour. president trump invokes special powers to boost u.s. virus intervention and prevention as global infection cases top 200,000. the apb holds an inch

. >> sheri, your reporting and the reporting of your colleagues in the "the new york times" tells thetory of the plight of the healthcare workers in such vivid terms, i wonder if you've been able to uncover through your reporting where the disconnect is, why there could be a debate between the white house and some governors, mostly democratic governors, and people who are leading states where some of the hotspots are now, about what's needed, about the numbers of ventilators, about the amounts of protective gears? i mean, i'm not saying it's easy to tell their stories. but the information -- if doctors and nurses are willing to talk about what they need, where do you think the breakdown is for them to get it? >> i mean, it's hard, right, you got one thing the projection the modeling, every expert who's participating in those modeling exercises say, it's a model, it's an assumption, certainly we don't want to be not prepared for some of the more worst case scenarios. of course, as people change their behaviors, social distancing the numbers will decrease andlag, too, so you still see t

sheri fink, thank you all for starting us off tonight. we really appreciate it. >> thanks, lawrence. >> thanks. >> and when we come back we will have more breaking news. house speaker nancy pelosi and ways and means chairman richie neal, as rachel told you at the end of her hour, say that they're actually close to a legislative deal on a coronavirus legislation. speaker pelosi has been working with the treasury secretary on this, not the president. one of president obamas former economic advisers will join us next with his thoughts on what the federal government can and should do right now. book your flight with expedia. then unlock trip savings of up to 20% on nearly half a million hotels and more. save money... afford to go on more vacations. get really good at vacationing. start with expedia, save with expedia. stay two nights and get a free night for your next stay. one night, two nights, free night. book now at bestwestern.com. hello, i saw you move in, and i wanted to welcome you to the neighborhood with some homemade biscuits! >>oh

brian. >> sheri kang in hong kong giving us a look at the open thank you very much.ur take on the asian markets here karen. >> the thing i find interesting, if you look at asian markets they've had a sharp fall and then a huge rally. if you overlay where the coronvirus case is, the growth, once the growth slowed down and became more linear and then actually slowed even more, so you had fewer and fewer cases every day, the market sort of -- their market looked through that and really rallied hard. i don't know if that -- that means we will as well. because obviously they are throwing everything they can there. but, like we said earlier, this is a president who has really, you know, pegged his entire sort of success on how the market does, how the economy is doing i wouldn't be surprised at all to see us throeing more than 50 basis points. >> and the china a shares, the etf is ashr pach they could one big gap down and rocketed skyward. look like they said to break out. if you think about what's going on in there, whether you believe it or not, the factories are ramping

sincerely, mayrion sheri. >> this coronavirus it is important to use our resources for education matters. it's to help create community for parents and children topics and see more programming there. this is a comment for the board of education meetings. and a mom of a 5-year-old resident of san francisco for 27 years. this time, so many platforms opened up for kids to use free. example, zoom. all need an sfusd address. anyway you can give addresses to the kids? i'm frustrated when they're trying to use these platforms for free to kids. julia klein. next it is a question from a certained and involved parent. when is the short, medium and longer term plan for students for involved in learning at home because right now, for my own child is that students are devoted to their phones and playing video games. and as an example, why are there no assignments like reading a book? making a book report and doing class with the teacher? thank you. dave watson. and tonight's sfusd news letter that public comments should be mailed so they can be read aloud into record for march 24th meeting. not sure

shery: is that a steady income when you are just tinkering? stephen: not really.rried my mother. she had a wealthy father. david: what did your mother do? stephen: she was a housewife. david: you grew up in the detroit area and he went to ninth grade there but then your family moved to miami for high school. stephen: right. david: why did they move to miami? stephen: my grandfather had bought a hotel and my father's inventing days were over and he went down to help manage the hotel. real mom and pop. david: what was the name of the hotel? stephen: the martinique. david: you went to high school, you did reasonably well in high school. stephen: not really, but anyway. david: you didn't do -- but you were a football player. stephen: you weren't supposed to -- david: originally you went to the university of florida? stephen: i went there for the first year, then i transferred to the university of michigan. david: you liked the cold weather? why did you do that? stephen: it was always a dream to go to university of michigan and i did not have the grades to get in right

joining with the latest is shery ahn, a little depressing looking at videos of dry through testing facilitiesn korea where people can find out in a couple of minutes whether they have it or not versus the daily drip of stories here about people not having the capacity. deaths for11 confirmed cases of 126, the math does not add up. it is depressing to look at those dry through's, but so efficient. you don't need to get out of the car and infected the people on your way to the doctor. feelingseen south korea this pressure to do more when they had to face the outbreak 2015. south korea has tested more than 140,000 people. more than 10,000 people a day. thatre that to the fact u.s. is still working on their one millions testing kit this week. they will not get there. they have only tested 2000 people at the end of last week, same thing with japan struggling with trying to hold the olympic games, but right now they have only tested around 2700 people were so. south korea also has four different companies approved to make the testing kits for the virus. exportingalks of these kids to other countrie

center's budget but all parties are now promising great of funds alan fischer reports from washington sheri the head of the c.d.c. says quick government action slowed the spread of karuna virus in the u.s. but some democratic members of congress insist there was a failure in leadership we cannot. and this public health crisis play fast and loose with people's health due to the administration's failure to treat this threat seriously initial faulty test kits the administration slow approvals for laboratories slow distribution of working kits more people are likely to be infected robert redfield assured members of this congressional subcommittee the testing across the u.s. was being stepped up and said the surge in cases here was because more people travel to europe right now the epicenter of the new china is europe the c.d.c. director stood beside donald trump when he visited the organization in friday he was asked about some of the claims made by the president as the administration tries to cope with a growing crisis coronavirus like the regular flu then it's a hoax and that anyone who wants