Welcome to the Jill on Money Coronavirus Market update. Okay, we're doing something a little different because we got a lot going on today. is Tuesday 12.06 PM when we are recording

this here's what's going on so far we see stock market index is roaring

back up over about 7%.

This is as we hear that the folks down in DC

are very close to getting a deal.

And I think on the tale of the Federal Reserve action

when there was just a crazy amount of stuff that was announced along with

this congressional deal looks like real people are going to get some relief and that's incredibly important.

Still, I do want to just caution you all as a friend of mine just texted me which is hope this is not a bear market trap

meaning that often that we see during the middle of a bear market big huge surges up and that can be one of those crazy instances where you think the worst is over but it's not.

So let's take it with a bit of a relief but also with a grain of

salt. Big huge 1500 point down day maybe it's going to be more but long and short of

it is these volatile sessions are not going to conclude

any time soon. Okay now that said also we got to get to your real questions and there's so much going on in the world that

it is really tough to parse it all so I got an email very early this morning from one of my producers at CBS asking about an

interesting story which was perhaps in this bill there is going to be some ability for people to take money out of their

401k's and not pay a 10% penalty and have a few years to pay the money back.

Even if that were the case, just like with any procedure that comes out of

Congress, I really want to be clear, if possible, we want you to avoid tapping your retirement account.

Please, this is something that's incredibly important.

If it's an emergency, we can talk you through it,

but if you have questions about that just send us an email ask Jill at Jill on money.

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