>>> THIS IS AN NBC NEWS SPECIAL REPORT.
REPORT. HERE’S SAVANNAH GUTHRIE.
>> GOOD MORNING, EVERYBODY.
WE’RE COMING ON THE AIR WITH
BREAKING NEWS.
BREAKING NEWS. THIS IS THE NEW YORK STOCK
EXCHANGE.
EXCHANGE. THE TRADING DAY IS JUST
BEGINNING ON WALL STREET AND
THERE ARE FEARS THAT THE DOW
WILL DROP AND DROP QUICKLY AND
WE’RE ALREADY SEEING THAT.
FUTURES OVER THE WEEKEND WERE
DOWN SO MUCH THAT THEY ACTUALLY
HAD TO PUT AN EMERGENCY TRIGGER
THAT STOPPED TRADING AND THE
EXPECTATION AND FEAR IS THAT WE
WILL SEE MARKETS IN FREE FALL
THIS MORNING HERE IN THE U.S. AS
THEY HAVE DONE IN THE GLOBAL
MARKETS ALREADY TODAY.
LET’S GET RIGHT TO CNBC’S BECKY
QUICK, WHO IS AT THE STOCK
EXCHANGE FOR US.
BECKY, THIS IS EXPECTED, BUT
HERE WE GO.
THE NUMBERS ARE ALREADY IN FREE
FALL.
FALL. >> THAT’S RIGHT, THIS MORNING WE
HAD BEEN LOOKING AT THE FUTURES
DOWN BY 5%.
AS YOU MENTIONED, THAT’S AS FAR
AS THEY WILL ALLOW THE FUTURES
TO TRADE DOWN, BUT IN THE FIRST
MOMENT, YOU’RE SEEING THE STOCK
MARKET MOVE BELOW THAT.
IT LOOKS LIKE THE DOW IS DOWN BY
ABOUT 6.9%.
ABOUT 6.9%. THIS IS MASSIVE PRESSURE.
FU HAVEN’T LOOKED AT YOUR 401(K)
OVER THE LAST FEW WEEKS, I
WOULDN’T RECOMMEND DOING IT.
WE HAD SEEN THE MARKETS DOWN BY
12%.
12%. NOW YOU’RE ADDING DECLINES OF
MORE THAN 7%.
THE 7% THAT WE’RE SITTING AT
RIGHT NOW, THAT WILL KICK IN
ADDITIONAL CIRCUIT BREAKERS.
THE NEW CIRCUIT BREAKERS ARE
THERE TO TRY TO PREVENT PANIC
SELLING.
SELLING. >> THE CIRCUIT BREAKERS KICK IN
WHEN?
WHEN? >> FOR THE S&P 500, THE KIRCIRCU
BREAKER WOULD KICK IN 7%.
YOU WILL SEE A PAUSE IN TRADING
FOR 15 MINUTES.
THEN IF YOU SEE THE S&P TRADING
DOWN 13% FROM THOSE ORIGINAL
LEVELS WHERE IT CLOSED ON
FRIDAY, IT WOULD PAUSE AGAIN FOR
ANOTHER 15 MINUTES.
AND THEN IF YOU SEE A 20%
DECLINE AT ANY POINT BEFORE 3:25
P.M. BECAUSE THE MARKETS CLOSE
AT 4:00 P.M. IF YOU SEE A
DECLINE OF 20%, THE MARKET WOULD
HALT TRADING FOR THE DAY.
IT’S WORTH POINTING OUT THAT WE
HAVE NOT SEEN THESE CIRCUIT
BREAKERS TRIGGERED SINCE WE WENT
INTO EFFECT AT 2013.
WE’LL BE WATCHING CLOSELY,
BECAUSE I’M LOOKING AT THE S&P
BY 6.59%, SO WE ARE NEAR THOSE
LEVELS WHERE YOU WOULD SEE
CIRCUIT BREAKERS KICK IN.
THE BIG REASON, PEOPLE ARE
CONCERNED ABOUT CORONAVIRUS AND
WHAT THAT IS GOING TO BE FOR THE
BROADER ECONOMY.
BROADER ECONOMY. THE SECTORS GETTING THE HARDEST,
YOU HAVE TO LOOK AT TRAVEL
INDUSTRY, I SAW CRUISE LINES
TRADING DOWN 10 TO 12%.
AIRLINES, 4 TO 7%.
AND HOTELS, A LOT OF PRESSURE,
TOO.
TOO. THE OTHER BIG ISSUE IS THAT WE
REALLY SAW A BIG ISSUE WITH THE
OIL MARKETS OVER THE WEEKEND,
TOO.
TOO. IF YOU’RE LOOKING AT CRUDE OIL,
IT’S BEEN DOWN MORE THAN 20% AND
THAT’S HAVING A HUGE IMPACT ON
ALL OF THE OIL COMPANIES OUT
THERE, BIG OIL COMPANIES,
INCLUDING EXXON MOBIL AND
CHEVRON.
CHEVRON. THIS IS HAPPENING BECAUSE OF
CONCERNS ABOUT AN ECONOMIC
BELOWDOWN, BUT ALSO BECAUSE THE
SAUDIS AND RUSSIANS GOT INTO A
BIG FIGHT OVER THE WEEKEND AND
THE SAUDIS ARE REALLY TRYING TO
DO AN OIL PRICE WAR AND THAT’S
WHY YOU’RE SEEING ALL OF THESE
ISSUES COME A A HEAD.
>> TIME COULDN’T BE WORSE TO BE
HAVING THAT TURF WAR WITH THE
ECONOMIC STRUGGLING UNDER THE
WEIGHT OF THE CORONAVIRUS.
WE’RE GOING TO KEEP AN EYE ON
THE DOW JONES.
WE’RE TALKING ABOUT THE OTHER
CIRCUIT BREAKERS, THAT WAS IN
REGARD TO THE S&P.
WHAT WE’RE SHOWING YOU IS THE
DOW.
DOW. BUT YOU GET A SENSE OF IT, ALL
THE U.S. MARKETS AS THEY OPEN
THIS MORNING.
THIS MORNING. I WANT TO GO TO GEOFF BENNETT AT
THE WHITE HOUSE.
OBVIOUSLY THE WHITE HOUSE IS
WATCHING THE PUBLIC HEALTH
CRISIS UNFOLDING, BUT ALSO THIS
ECONOMIC CRISIS WE’RE SEEING.
>> Reporter: YOU’RE RIGHT ABOUT
THAT, SAVANNAH.
THAT, SAVANNAH. ADMINISTRATION OFFICIALS SAY
THEY ARE MONITORING THE STOCK
MARKET OPEN.
MARKET OPEN. THERE WAS AN EXPECTATION THAT
THERE WOULD BE SOMETHING OF A
NEGATIVE REACTION TO THE
CORONAVIRUS CRISIS, BUT IN MANY
WAYS, THEY ARE WATCHING THIS
SLIDE IN REAL TIME AS WE ARE.
PRESIDENT TRUMP STILL IN
FLORIDA.
FLORIDA. HE SPENT THE WEEKEND THERE.
HE HAS A SERIES OF FUNDRAISERS
TODAY.
TODAY. WE DON’T EXPECT TO HEAR FROM HIM
IN PUBLIC APART FROM HIS TWEETS
UNTIL LATER TODAY.
BUT AS YOU WELL KNOW, PRESIDENT
TRUMP HAS SPENT THE BETTER PART
OF THE LAST THREE YEARS REALLY
PERSONALIZING THE STOCK MARKET.
THE OVERALL ECONOMY.
MAKING THE CASE THAT ONE OF THE
REASONS FOR THE STOCK MARKET’S
SUCCESS UNTIL THIS POINT WAS
BECAUSE OF HIS STEWARDSHIP AS
PRESIDENT.
PRESIDENT. BUT THERE IS A REASON WHY U.S.
PRESIDENTS DON’T REALLY BOAST
ABOUT THE STOCK MARKET, BECAUSE
IF YOU OWN THE HIGHS,
POLITICALLY YOU ALSO OWN THE
LOWS.
LOWS. SO WE WILL SEE HOW ANY OF THIS,
SETTING ASIDE THE REAL PUBLIC
HEALTH CRISIS, WE WILL SEE HOW
THE SITUATION IMPERILS THE PITCH
THAT PRESIDENT TRUMP IS MAKING
TO VOTERS IN THIS RE-ELECTION
YEAR FOR HIM.
>> GEOFF BENNETT AT THE WHITE
HOUSE, BECKY QUICK AT THE STOCK
MARKET THIS MORNING.
WE’LL CONTINUE TO KEEP OUR EYE
ON WHAT’S HAPPENING.
YOU CAN FIND OUT NOR ON