i'm willem marx.ty markets give up gains after an early selloff that saw the dow plunge to the worse daily fall in two years. >> a vaccine breakthrough pushing american drug stocks higher >> gold to a high. it is a mixed picture for oil prices the saudi minister says he's not worried about the impact >> i'm not concerned i tend to think calmly everything serious require attendance >>> president trump is upbeat on a deal with indian >> i'm optimistic we can reach a deal that will be of great importance to our two countries. we will continue to achieve new breakthroughs and unlock new potential and brighter futures >>> we are now about one and a half hours into the european trading session. you may have missed the early rebound. now european markets trading below the flat line after yesterday saw the stoxx 600 drop 3.8% a global selloff yesterday on the back of those heightened concerns on the coronavirus outside of china fears it could turn into a full scale pandemic with the exception of japan opening

i'm willem marx. >> i'm joumanna bercetche.our headlines >>> barclays' shares and discussing the ce o's ties to jeffery epstein. >>> it is too late for thiam who is presenting his last time as ceo. >>> dragging commerce bank to a net loss results are better than forecast that sends shares sharply higher >>> airbus shares open in the red after the bribery settlement eats into profit despite solid 2019 orders and deliveries we'll be speaking to the ceo later oncnbc >>> you can see a lotte of red on the board the hand over isn't so pretty. we saw a pickup of the number of reported cases in the china region being watched closely by the market we did see some reaction it is super thursday we've had plenty of earnings come out of the banking sector, tech sector food and beverage. that is one of the reasons why we are getting red across the board. we have barclays and credit suisse down about 2% nestle as well you can see ftse 100 in the uk the biggest performer leading declines down about 1% this is a basic resources heavy index. a l

i'll willem marx >> and i'm julianna tatelbaum. these are your headlines the stoxx 600 hits a record high rally to the top of the german market offsetting boeing delays and concerns about the coronavirus. seeing the bright side daimler shares rallied we hear from the ceo later on kansas >>> and monday claire shares resume trading after sharper numbers in china plunge 80% amid the coronavirus outbreak >>> and deutsche telecom shares surge when a judge confirms the merger between sprint and viacom the move expected to be announced today. >>> as you can see behind me, european markets have started out on strong footing. green across the board we are seeing some of these stronger gains from earlier this morning paired back. stoxx 600 trading 0.6% after hitting a record high. this comes after a modestly positive session in asia as well as a strong session inwall street yesterday, the s&p 500 and nasdaq post record highs investors are taking comfort we are seeing supportive moves in terms of equities it is not just in terms of the macrob

i'm joumanna bercetche >> and i'm willem marxs. these are your headlines >> heineken beats full year dividends. but it is too early to assess the impact from the coronavirus as the death toll surges past 1,100. >> i'm reading and watching the press like you are it will impact obviously people don't get out and go to restaurants. that will have an impact what we don't know is the duration >>> kering beat sales to send shares higher. but the luxury brand says the virus outbreak uncertainty could hurt trends. >>> softbank operation plunges taking a massive third quarter hit after bets on uber and wework go south. >> translator: we have cause for concern among investors. >>> a drag on the stoxx 600 after fourth quarter numbers and higher numbers weight on the dutch lender >>> let's start with some of the market price action. a bit of a muted end we have dow finish flattish. s&p up a certain amount. worth pointing out that 77 new s&p 500 highs. a couple of highlights not real areally market moving but he did define growth as being moder

i'm willem marx. >> and i'm julianna tatelbaum. >> the sell-off spreads to europe u.s. officials warn a pandemic is likely as the virus spreads to switzerland >> the u.s. trezy yield on a 10-year low. >>> lufthansa takes measures offering unpaid leave and freezing hiring sending their shares lower >> peugeot gives a soft outlook. the tie up is on the right move. >> this is not a merger on the crisis mode. this is two mature companies they know the challenges ahead are very significant and will be in a better shape coming together >> as we mentioned, the dow has suffered the two-day point loss wiped 1.7 trillion off the s&p this follows the fact that u.s. authorities warn a pandemic is likely they told americans to prepare for, quote, community spread of the infection. the transport sector had its worse day. energy and tech more than 10% off recent highs tech off a record close one week ago across the major indices were much higher than average. we look at what is looking likely all three of those at the moment looking to trade down at that market open. as investors took

cnbc's willem marx joins us from loppeden. two days rough for the markets because of coronavirus., that's in the u.s. of course. we've seen in asia today, ayman, they have been all closing much, much lower, similar story so far in trading in europe. looking ahead to when the u.s. markets reopen they are also expected to open lower. so we could see some more losses for stocks today. there's been concern because of what's happening here in europe in particular, we have had this outbreak in italy, ten towns there still in the quarantine, more cases spreading south of the country. we have hotels in countries like austria and spain on lockdown because of patients diagnosed there. big european companies also reporting concerns about their earnings potential because of coronavirus. one big u.s. corporate story reshuffling walt disney, bob iger has been the ceo for almost 15 years he's stepping back, he will become executive chairman in charge of all the entertainment efforts until his contract expires. a man bob chapek he will be stepping up to the ceo role. >>> democratic presidential c

i'm willem marx in london. continental recollection the stoxx 600 continues the global selloff as the dow plunges and the markets head for the worse weeks. travel and leisur serch stocks as shares of iag plunge over the impact of coronavirus. a german town is placed under quarantine as the virus continues to spread further into europ europe the biggest buyout in europe since 2007 >>> you can see entirely red as this selloff continues from the u.s. to asia and europe this morning. let's look at the individual markets to see the losses. you can see the ftse 100 down. 4.25 down in germany the cac down 3.8%. italy more than 3% lower let's look at individual sectors to see travel and leisure down almost 5% basic resources. places like china are selling off. technology stocks are down more than 4.5%. in the u.s., we saw extraordinary circumstances. closing 4.4% 4.6 for the nasdaq these were extraordinary times one of the fastest in history. if we look at the volatility across the markets you are seeing the vix five p

i'm julianna tatelbaum >> and i'm willem marx >>> european equities sink deeper into the red. the u.s. identifies the first unexplained transmission of the coronavirus in america >> posting a 46% jump in full-year profit unrest in hong kong and the covid-19 throws the banks. >>> it will be harder to hit that in 2020 we see the beginning of a global economic impact. >> wpp shares plunge after the british media group plunge from a sales slow down and warns that 2020 will be flat despite the company delivering a solid set of numbers cfo tells me they are monitoring the situation in china with coronavirus. >> we don't see a slow down. we see a postponing or delays. we don't see a slow down in growth in china compared to 2019 >> urs futures pointing to a sharp open a california resident has contracted covid but does not know how the patient constituted. this could be the first time person-to-person transmission occurred in united states. for the first time, more new cases were reported outside china than inside. norway, pakistan, italy and koran. croatia, spain and barach also repo

. >>> heading to willem marx in london >> dom, you mentioned now some of the u.s.ures improving. it has been a similar case in europe ftse 100 was down more than 5% down 3.3%. stocks like iag reporting there. expecting to see some adverse impact in germany, the dax down 4%. you have a northern town, 1,000 people under quarantine after they found 14 cases there last night. in france, the number confirmed almost doubling overnight, you see the cac there. and in italy where you have multiple towns under quarantine, 3% lower you see number of airlines reducing flights to italy. that will have a massive impact there. >> notable there italian markets are outperforming some other developed ones back home, futures continue to signal a lower open. look at this, it took only six sessions for the s&p to move all the way from record highs into so-called correction mode. that's the fastest slide from a record high to correction in the history of the markets for more on what this means, we are back with anestasia and jenni jenning harrington how do you navigate these markets? wh

very troubling to say the least, willem marx is joining us from london on this. >> this is a report comingt of transportation, yasmin. what it says is the faa failed to, quote, effectively oversee southwest airlines' systems for managing risk. what does that mean? the airline got to operate more than 150,000 flights with ata used boeing 737 aircraft that hadn't met certification requirements for maintenance. faa saying it agreed with all 11 recommendations from. ig. southwest saying that eight of those 88 jets still remain out of service pending the completion of repairs. another big story for tech investors, the ftc, the federal trade commission, has voted unanimously it will investigate some of the previous corporate acquisitions we've seen from massive tech companies, that's alphabet, amazon, apple, facebook and microsoft. it could be a sign they're hoping to examine in a bit more detail how these big tech titans buy companies and buy data. so something to watch there. >>> and another development in that long running saga of the former r echenault boss, carlos ghosn. the japanese compan

willem marx is joining us from london on this.it's no secret sales at macy's have struggled in recent years and they are resorting to a time honored technique to goose their growth, that is closing stores. they have closed 100 in the last five years, they are announcing now they will close 125 in the next three years. they will focus on smaller format stores going forward, closing the headquarters in cincinnati, tech offices in san francisco. another big u.s. firm watching closely, disney, they have earning out yesterday. investors focused on the subscriber numbers for the streaming service disney plus for the final three months of 2019 they came in at 26.5 million. the ceo telling cnbc they are at 28 and change in terms of their subscribers. that's a key metric. important to note that a fifth of those come from a partnership with verizon and there is no guarantee people getting that deal through verizon at the end of the year a free service will resubscribe. one other story, amazon founder jeff bezos has sold more than 900,000 sh