AFN
NEWS
Thursday, March 12, 2020
1)
From ABC News, I’m Daria Albinger. The
Bears have been sitting around Wall Street a lot lately and today they returned.
Worries about coronavirus paired with the plunge in oil prices and questions
about what the Fed will do about them caused the Dow to plunge nearly 1500
points, a drop of 20% from its all-time high last month. President Trump says financial
institutions are ready to help consumers and businesses. “These are powerful
institutions. They’re built up. They’re ready to go. And I know there will be helping
their customers during the short time period.” The President speaks to the
nation tonight.
2)
The market just one reaction to what the World Health Organization is now
calling a pandemic. “Pandemic is not a word to use lightly or carelessly. It’s
a word that, if misused, can cause unreasonable fear or unjustified acceptance
that the fight is over.”
3)
The upcoming March Madness games will be played with just essential personal
and limited family in attendance. The NBA’s Golden State Warriors will play
games without fans in their arena until further notice. Nearly 120,000 people
now testing positive to the virus, most cases still in mainland China, and the
U.S. death toll is rising. “The number of dead in the U.S. is now up to 36. Four
more deaths coming in the Washington State and one in Los Angeles County.
Washington State is now reporting at least 366 confirmed cases of COVID-19. Globally the Chief of the
World Health Organization saying he is alarmed by inaction around the world of
countries not doing enough to stop the spread of the virus.” ABC’s Alex Stone.
4)
Two U.S. service members among at least three people killed in a rocket attack
in Iraq.
5)
The Fed carrying out early morning raids across the nation today, targeting alleged
members of the Jalisco New Generation
cartel which controls up to two thirds in the U.S. drug market. You’re
listening to ABC News.
…………………………………………..
I’m
Charles Payne and this is the Fox
Business Report.
Another
day of tumultuous trading on Wall Street with stocks dropping sharply as investors
worry about the economic fallout from the coronavirus. The Dow tumbling and
falling into bear market territory and declined at least 20% from its recent
highs which were set on February the 12th. The Dow falling 1,465 points, the NASDAQ
down 392, S&P 500 down 141. // And shares of Royal Caribbean and Norwegian
Cruise Line once again taking a huge beating as investors remain skeptical about
a fiscal stimulus package or targeted measures to aid the struggling industry.
// And analysts say people lowering earnings estimates for restaurant
companies on expectations that the coronavirus will create labor shortages and
impact opening hours as it continues to spread across the U.S. That’s your Fox
Business Report. I’m Hilarie Barsky, invested in you.
