Coronavirus fears spark huge stock market tumble; National Guard arriving to nation's first containment zone; Trump cause confusion with inaccuracies, omissions in prime-time speech to nation; Italy closes restaurants, bars, and shops amid virus

The Lead with Jake Tapper

CNN

News

3.5 • 1.7K Ratings

🗓️ 12 March 2020

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Trading temporarily stopped after Dow drops dramatically for second time this week; Dow plunges 2,300+ points over coronavirus fears; 1400+ coronavirus cases in the U.S., Top health expert admits U.S. "failing" on coronavirus testing; Tom Hanks test positive for coronavirus, highlighting Australia's access to testing; U.S. lags behind other countries in coronavirus tests; NYT: Testing delays set back U.S. coronavirus response; Utah Jazz test full team, confirms second player tests positive; Fears over spread of coronavirus force schools to close, sporting events canceled & some workers sent home; CDC Dir.: Now is the time for big sports events to "take a pause"; NHL & NBA suspends seasons, MLB delayed opening day; Ohio Gov. orders all public & private K-12 schools to close for three weeks; NCAA Tournament canceled over coronavirus fears; WH: trump not getting tested for coronavirus after Brazilian leader's press secretary test positive; Health experts dispute trump claim coronavirus testing going "smooth"; Trump travel restrictions for Europe catch airlines, U.S. allies off guard; Italian hospital official: coronavirus has our health care system "one step from collapse"; Italy sees biggest one-day jump in coronavirus cases; All Catholic churches in Rome close over coronavirus fears; Doctors warn U.S. is not ready for spike in virus cases; Are U.S. hospitals prepared for influx of coronavirus patients?; Doctor warn U.S. is not ready for spike in virus cases; Just this hour: Disneyland closes, states shut schools, NYC employees work from home & NCAA tourney canceled;To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This is
0:03.2	the end breaking news.
0:06.2	Welcome to the lead. I'm Jake Tapper and we begin with breaking news. The
0:09.7	Dow is about to close momentarily. It has plunged around 2,000 points today after another
0:16.4	sheer bloodletting on Wall Street. This was the second time this week that the so-called
0:20.8	circuit breaker needed to be tripped.
0:22.8	The Dow dropping so dramatically today that trading had to be halted for 15 minutes so
0:28.4	as to prevent a free fall.
0:30.8	CNN's Allison Kossack is at the New York Stock Exchange for us and
0:33.5	Allison is this just the new normal until the world and the United States
0:37.9	begin to emerge from this pandemic? Well hopefully the circuit breaker kicking in for the second time this
0:44.1	week hopefully that doesn't become the new normal but these thousand point moves in
0:48.0	the Dow they certainly feel like the new normal at least until investors become more confident that the Trump administration
0:56.0	has a handle on the coronavirus crisis.
0:58.8	And it's coronavirus fears that really drove the action today that's as these fears grow as we see the
1:05.6	U.S. economy come to a switching hall whether it's conferences or cruises or
1:10.8	or MBA games. It's economic brochure that's on the line
1:14.9	and investors are tying to price what a new landscape
1:18.8	will look like when we have a pandemic
1:21.0	and possibly a recession at least in the short term.
1:24.0	And you just heard the closing bell with the Dow down 2,300 points just in one day.
1:30.5	Allison, President Trump earlier today said that the markets would be just fine.
	...

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