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Squawk Pod

Special Report | Markets in Turmoil

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2543 Ratings

🗓️ 17 June 2020

⏱️ 45 minutes

🧾️ Download transcript

Summary

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm CNBC producer Katie Kramer, one of the voices behind the CNBC podcast SquawkPod.

0:07.5

In these times of uncertainty, we want to make sure we're bringing you, our listeners, as much information as possible, as quickly as we can.

0:15.0

That's why we're sharing with you now a CNBC special report, Markets and Turmoil.

0:19.8

Listen in.

0:24.1

Good evening. I'm Scott Wapner on day 170 of the coronavirus crisis and tonight a major

0:30.1

breakthrough in the fight against COVID-19. I was able to wean the patient's paralytic agents and wean sedatives and start to wean the patient from the ventilator.

0:43.0

It's pretty dramatic.

0:43.8

A new weapon in the fight against COVID-19 raises hope worldwide.

0:49.3

Plus, airlines get set for a major policy change this week.

0:53.9

Wear a mask or else.

0:55.8

And new information tonight about members of Congress tapping into the PPP pipeline.

1:01.8

The CNBC special report begins right now.

1:04.9

Here's Scott Wapner.

1:07.3

Welcome. It is good to have you with us on this Tuesday night.

1:09.9

We get to that big breaking story in just a moment. We will speak with Dr. Scott Gottlie, the former head of the FDA, now a CNBC contributor. But there's another big story this evening, and that is major airlines now ramping up enforcement of new rules requiring passengers to wear face coverings on planes. Are Phil LeBoe live in Chicago this evening with the very latest? Phil, what's the story? Scott, those are rules that the airlines set in place, most of them, anywhere from three to four weeks ago. And the overwhelming majority of passengers do wear masks, both in the airport and on planes. But increasingly there are complaints that some passengers have to say, you know what, I'm not going to wear it when I'm in the middle of a flight, even though it's required by the airlines. So what you have right now are the airlines putting more pressure on the passengers to wear face masks. They're just not putting pressure. They're outright requiring it. The crews say, again, the vast majority of the passengers are wearing the mask. So here's what's going on. You have to wear your mask, ticketing, boarding, in-flight. Basically, from the minute you get to the airport to the minute you leave the airport. Non-compliance is reported internally. So if you're on a flight and you decide you're not going to wear it, they're going to tell the home office and the next time we try to book a ticket, you're probably on the restricted travel list, which means you won't be able to fly. Now, most airports around the United States, they are asking passengers to wear those masks. Though, we have talked to the people who have been at major airports, whether it's O'Hare, LaGuardia, et cetera, and they say, look, there's probably about 10% of the people walking around in the airport who are not wearing masks right now.

2:34.6

All of this comes as more people are flying.

2:36.9

As you take a look at the airline index, the number of passengers this last week, 3.1 million.

2:43.0

That's an increase of 24.7% compared to last week.

2:47.1

Finally, take a look at shares of American and United.

2:49.6

We could really put any of the airlines up here.

2:51.6

It's been a very turbulent month to say the least for these guys, but all of them now,

2:56.6

Scott, are saying we are requiring masks when you come on board.

...

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