Welcome to the Jill on Money Corona virus Market update. Oh boy, Sunday night, 724 PM is when we are taping this and we are going to drop it tomorrow morning

it's going to come into your feed and if you have been blissfully unaware of

what's going on the latest is that the coronavirus stimulus bill, which is not a stimulus bill,

it's just it's basically a freaking life support bill for lots of Americans,

failed in a key Senate procedural vote.

And from what I understand from my colleagues at CBS News, there's a pretty big fight here

about what protections there are going to be for labor versus the businesses that

get bailed out or helped during this time. So it's not just a nothing, it's not a

nothing burger, it's not like oh what you're gonna hear that it fails in a procedural vote and you're going to say oh those guys stink there's actually a real battle going on as to how this is going to be framed because remember in the 2008- 2009 period we learned a lot about how to help

individuals and how to help corporations and what US taxpayers deserve in helping companies get through bad times.

So I think that this is not such a nothing burger and it's not politics.

It's actually substantially different approaches to how the bill would be framed.

Now unfortunately here at 725 on Sunday night

the failure of this bill has caused Stock Index futures to drop by about 5%.

We also see oil drop by about 5%.

And again, this is very reminiscent of that time in 2008 when the first TARP bill failed in the Senate.

I think it was Congress or the Senate. I can't remember where the first vote was and the market tumbled.

So there is going to be a plan. It's going to be somewhere around one and a half, maybe

even two trillion dollars. I bet when we're all said and done this is going to be three,

maybe four trillion dollars and so it's

going to be another rocky day that means that you're going to have more

questions we are here to help try to bring some calm or bring some help in you making some big decisions.

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