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Dow Tumbles Into A Bear Market | Morning Joe | MSNBC - YouTube
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so president Trump's efforts to quell
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coronavirus fears during his oval office
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speech last night did little to ease
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concerns on Wall Street as stock futures
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pointed to yet another low open this
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morning the Dow futures dropped more
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than 1,100 points while the SP and
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Nasdaq also pointed to lower openings
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markets reacted poorly as investors were
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hoping for a stronger fiscal response
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from the president than just his new
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European travel ban and his plan for
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financial relief for ill workers and
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after an 11-year run on a bull market
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the Dow plunged yesterday into a bear
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market after reporting losses of over
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1,400 points the SP and the Nasdaq also
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reported losses joining us now see NBC's
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Courtney Reagan live from the Nasdaq
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with more Courtney hi good morning mica
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that's right so now we are officially in
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bear market territory that means that
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the major market indices have fallen
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more than 20% from their recent 52-week
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highs by the way that was just about 19
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trading sessions ago so that's another
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concern as the velocity at which we have
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seen stocks fall you mentioned the
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president's address last night if you
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were watching the futures market which
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is indicative of where stocks will open
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win Wall Street's
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opening bell sounds at 9:30 a.m. Eastern
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Time you saw the futuristic down as the
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president was speaking investors just
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were not reassured by what he had to say
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there was no real promise of any fiscal
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stimulus which had been reported that
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the president was potentially looking
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into some tax cuts now that may still
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come we just didn't get it last night
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around the world you saw markets fall
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Australia sold off by more than 7% the
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Japanese Nikkei tumbled by 4% South
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Korea down 4% European markets are down
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to the tune of about 6% today and then
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when you look at individual sectors it
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would make sense as we're seeing the
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airlines sell off precipitously down
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double digits in some cases for American
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for Delta because of these new travel
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restrictions as the president announced
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last night as well as hotels we're
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expecting to get an announcement out of
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the European Central Bank to help
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support the European economy from a
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monetary
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standpoint that's coming later this
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morning but we are in for another wild
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ride on Wall Street just a reminder
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there are circuit breakers that could be
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deployed today if we see the sp500 drop
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7% if that happens we will see stocks
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halted for 15 minutes sort of allow
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cooler heads to prevail so just so the
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viewers know the number that we're
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watching for the S&P 500 if that were to
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be the case
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25:49 back over to you CNBC's courtney
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reagan thank you very much and Joe this
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is obviously a huge part of the story
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watching how the markets respond to this
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yeah what it is I mean and you really
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have to you really have to take care of
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first things first it's just like we're
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talking about the president was was
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obsessed about the travel ban well
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Willie the travel bans fine but again
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the killers already inside the house you
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got to take care of what's inside the
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house and of course close the door stop
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others from coming in but in this case
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you have a president that is obsessed
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with the financial crisis you have his
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top officials more obsessed with the
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financial crisis around him than they
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are the health care emergency that we
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have and because of that the president
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can throw all the money at this that he
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wants the markets are going to continue
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collapsing until he takes care of the
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underlying problem the underlying
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problem was not a financial problem the
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underlying problem is a pandemic and he
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needs to show the markets the Americans
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and the rest of the world that he
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understands that and he's got a plan to
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aggressively attack that pandemic thanks
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for checking out MSNBC on YouTube and
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make sure you subscribe to stay
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up-to-date on the day's biggest stories
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