for bloomberg first word news, we go to mark crumpton. harvey weinstein will remain behind bars until his sentencing on march 11 david after a new york jury found the former movie mogul guilty of rape today, the george ordered weinstein be immediately sent to jail. he was handcuffed and led away by court officers. a jury convicted widescreen rape and sexual act but acquitted him of the most serious charge of predatory sexual assault. the supreme court has agreed to hear a major religious rights case. the court will hear about a philadelphia catholic agency that will not place kids with same-sex couples. philadelphia could enforce a city by city antidiscrimination law by regarding those groups to work with same-sex couples. catholic social services has been threatened, the future of catholic agencies around the country. the 2020 presidential election is still more than eight months away but vice president pence is already laying the groundwork for a 2024 run. the vice president has his own political action committee and has also been stead

i am mark crumpton. this is bloomberg. david? david: coming up, we will set the stage for the democratic debate in nevada tonight. we will go live to las vegas. this is "balance of power" on bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i am david westin. tonight, democratic candidates for president have another debate in nevada in advance of the caucuses on saturday. this will include michael bloomberg, the founder and majority owner of our parent company. joining us in las vegas is kevin cirilli was there for the coverage. i get to go to new hampshire and you get to go to las vegas, how does that work out? [laughter] kevin: a lot of fights to get me here. this will be a showdown between the front runners in this race. that is senator bernie sanders, the independent senator from vermont who caucuses with the democrats. he has been drawing a contrast with michael bloomberg. do not count out vice president joe biden. the nexus of his campaign feels that clash between berni

i am mark crumpton. this is bloomberg. kevin? kevin: thank you, mark. coming up, we will take a look at technical difficulties faced last night and what it means for the coming primaries. tonight, tune in for our state of the union coverage. david westin kicks that off at 9:00 eastern. this is "balance of power" on bloomberg tv and radio. i am kevin cirilli. this is bloomberg. ♪ kevin: this is "balance of power" on bloomberg television and radio. i am kevin cirilli in des moines, iowa. the breakdown in the reporting of iowa caucus results last night has been tied to failures in the mobile app that may not have been ready for debut. for more on what that means is the founder of the national security institute at george mason law and a former senior advisor to the house intelligence committee. he comes to us from washington. thanks for your time and for joining us. what went wrong last night and what can be done to fix it? >> we don't know a lot yet, but we know there is an app the precinct leaders were given to transmit the result back up the county le

i'm mark crumpton. this is bloomberg. david? david: coming up, we will go live to charleston, south carolina for a of tonight's big debate. " on is "balance of power bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. democratic presidential candidates are returning to the debate stage in charleston, south carolina ahead of the states primary on saturday. our very own kevin cirilli is on the scene in charleston and this is what is going on. what should we be looking for? kevin: a lot of fire against senator bernie sanders, who now assumes his official front runner status after waiting in the nevada caucus. expect many of the campaigns to target him and comments he made as a relates to fidel castro. saying hisoe biden campaign is putting all of their money in south carolina, being bolstered by the large african-american community, he hopes, that he feels will back his campaign ahead of the contest this weekend. this is the final pitch that many voters, that many of the campaign

i'm mark crumpton. this is bloomberg. the coronavirus epidemic in china is first and foremost a human tragedy. but one with potentially far-reaching business can't does as well. from thee anna ashton united states china business council. welcome, good to have you here. what are you hearing from your members at the council about how they are faring in china? anna: i would start by reiterating what you said. first and foremost, this is a human crisis. our members initial reaction to this was to seek out ways to be of assistance, to help with relief efforts. they have continued to do that in a variety of ways, whether it was restarting manufacturing early for companies that made critical medical equipment, donating to red cross efforts, getting masks over to china from countries where there actually was availability. there are not a lot of places where you can get them right now actually. impact, of the business it is undeniable there is one. hard to say how big that impact will be because we don't know how much longer this

i am mark crumpton. bloomberg. david? david: coming up, democrats head to nevada and a very different collection of voters. we talk with our political panel, next. this is "balance of power" on bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i am david westin. the democratic primary is moving on to the nevada caucus, week from tomorrow. one constituency is the powerful culinary union. it is taking a pass on making any endorsements after it raised concerns about senator bernie sanders medicare for all plan. we welcome our clinical panel, matt bennett, senior vice president of third way, and in new york is jen kearns. of howive us a sense different nevada is in its composition from new hampshire or iowa. those are both pretty homogeneous caucasian states. matt: they sure are. i was democratic electorate is 95% white, only to be outdone by new hampshire, which is 96% white. they do not look anything like america. they do not even look like democrats in america. now we

i'm mark crumpton. this is bloomberg. day foromorrow is the nevada to weigh in on who should be the next democratic nominee president. paul's showing bernie sanders way out in front. some are raising doubts about whether we would have a repeat of something we had in iowa with the fiasco of the caucuses there. bryan, us now is richard who served as a democratic senator and governor to nevada. he is now a director of a law firm. give us your sense of where the race is now. thatve seen some polls show bernie sanders out in front. richard: we will know the results of the caucus until saturday, but clearly, bernie sanders is surging, as elsewhere. i think the real winner of the debate, frankly, was donald trump. as a democrat, strong supporter of joe biden, i was dismayed at the colloquy. inseems the prize is winning november. the primary is obviously an essential step. my concern is some members of our party are moving further to the left than most mainstream voters in america and most mainstream voters in nevada, and that's

i'm mark crumpton. this is bloomberg. david: apple shook markets with this announcement that it would miss revenue targets because of the coronavirus and effects on its supply chain. there is good reason to believe apple may not be the last company with those problems. we welcome somebody whose practice it is to navigate western companies through chinese legal waters. co-author of the the china law blog. thanks so much for joining us. give us a sense of what is going on on the ground. you represent a lot of companies over there. to what extent is the chinese economy, at least in hubei province, frozen? an: in that province it is basically frozen. it is outside that province where everything really just depends. david: do you have a sense over all of the chinese economy -- there have been various estimates about which gdp growth will be reduced. do you have a sense on how accurate those estimates are? dan: i think they are pretty inaccurate. it is difficult to get a handle on what is going on in china with respect to the i

we go now to mark crumpton. mark: pete buttigieg and bernie sanders will meet face-to-face on the debate stage tonight in manchester, new hampshire. there virtual tie in the iowa caucuses sets them up as the front runners in the delegate race. joe biden and elizabeth warren are likely to go the offensive after disappointing performances. officialssey, health boarded a cruise ship and screened more than two dozen passengers who recently traveled from china. they were looking for symptoms of the coronavirus. 23 passengers were cleared. the other four are being evaluated at a hospital. the trevor transatlantic trade truce become a depressor this month if the united states follows through on a plan to increase its tariffs on the european union. is starting toer deploy a trade tactic called carousel retaliation, whereby a country periodically shifts tariffs on different groups of goods. there will be leadership changes at the international monetary fund. top deputy david lipton will leave at the end of the month. his

i am mark crumpton. this is "bloomberg." david: at first we were told the reaction to the coronavirus would likely be short, limited to the first quarter and with a v-shaped recovery but it is not looking that way anymore. we welcome now mary lovely, senior fellow at the peterson institute for international economics and professor of economics at the maxwell school of citizenship and public affairs. professor, thank you for being with us. you are not a fortune but an economist. how do we go about figuring out what is the analogy? what should we expect from the coronavirus? >> obviously, no one knows where this is going so we have to have a range of estimates. right now they are the wide. they could be anywhere from 100 billion to 1.1 trillion depending on where this virus stays mainly contained in china or becomes a pandemic. each day we find new outbreaks, new clusters of the virus, we have to say we are headed board for the upside in terms of the losses to the global economy. we havehen -- david: the supply chain problem b

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn even amanda: live in toronto, i'm amanda lang. shery: here are the top stories we are following from around the world. america's largest company cutting its outlook. it shares of apple tumbling as the company says the coronavirus will weigh on supply and demand. those concerned bleeding into markets. u.s. equities pulling back from andrd highs, hardware chipmaker stocks follow apple into the red. walmart bucking the trend. the retail giant reporting a resilient full-year outlook despite a weak holiday season. quick check on the major averages. some of those stories that shery alluded to playing out in the markets. weakest in thee s&p today. of course, tech is weighing on the market. apple leading the way. at last check down 2%. in these, a major weight s&p 500. we are also seeing financials drag. checking in on some old world stocks, walmart and macy's, both in the news, very different readings, in terms of what

i am mark crumpton with first word news. for theilestone coronavirus, the death toll is at 900 10, more people than died during the sars epidemic 17 years ago. china says the number of people infected has surpassed 40,000. president trump says the united states is weathering the outbreak well. the virus, amp: lot of people think it goes away in april with the heat, as the heat comes in. typically that will go away in april. we are in great shape. we have 11 cases. many of them are in good shape now. mark: hong kong is investigating six more cases, two our extended family members of a previous patient. other cases are in the same family. polls show bernie sanders has the lead a day before the presidential primary in new hampshire. south bend, indiana mayor pete buttigieg's second in amy klobuchar's third. a third of the

let's go to mark crumpton. mark: the world health organization has a message for countries that are not acting quickly enough to prevent the spread of the coronavirus. wake up. the organization has raised its global risk assessment to very high from high and says that should be a reality check for nations. pandemic, it is unhelpful to do that when you are still trying to contain a disease. mark: it more than 83,000 people worldwide have been affected by the coronavirus. 2800 have died. fear of the spreading coronavirus has led to a global run on sales of facemasks. many businesses are sold out while others are limiting how many a customer can purchase. amazon is policing its side, trying to make sure sellers do not gouge panic buyers. not just high demand, but the disruptions in supply. about half of the world surgical masks are made in china. secretary of state mike pompeo is defending the trump administration's killing of a run in general custom solemani last month. he said today solemani was year-end top ter

i am mark crumpton with "first word" news. a 15th case of coronavirus has been confirmed in the united states. health and human services secretary alex azar says he was just informed of the latest case. he was speaking at a congressional hearing and did not provide any details. president trump will hold a news conference on the outbreak at 6:00 p.m. new york time. you can see that live right here on bloomberg television. congress is moving to overhaul surveillance powers for the first time in years. a house committee open a debate on the foreign intelligence surveillance act. president trump says the law was misused during the investigation of russian election interference. the palestinian prime minister urged the european union to impose sanctions on israel if it proceeds with plans to annex the west bank. he made the comments at a u.n. geneva press association meeting on the sidelines of his visit to a heat human rights council session attended by many foreign ministers since it began on monday. >> discussed also the reactio

from toronto and new york, this is bloomberg. ♪ mark: i am mark crumpton with "first word" news. a global health official says it is " way too early" to predict the beginning of the end of the virus outbreak that began in china. the doctor spoke at a news conference today at world health organization headquarters in geneva, but he added that it is reassuring that the number of daily cases appears to be stabilizing, mainly due to china's huge public health operation which placed 60 million peop deval patrick has dropped his bid for the white house. it comes after he failed to secure 1% entered the democratie just agreements ago. patrick campaign across the country focusing some of these energy on south carolina, where he hoped to cut into joe biden's support among african-americans. but his campaign never caught fire, and he didn't qualify for any of the presidential debates. house republicans boycotted and intelligence committee hearing today following president trump's impeachment. congressman devin nun

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amanda: live in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. panic and fear hits the markets. panic and fear hits the markets. a sea of red for global equities as we live to the fastest ever market correction. racing to contain the virus. world health organization raises a list -- risk level as cases spread across the world. waiting on central banks, traders price in cuts of the global central banks as the fed's james bullard says rate cuts may be necessary. vonnie: let's get a quick check on the major averages. don't forget, it is a month end. another date to february, but the last trading day. the downtown 2.1%, well off the lows of the day, but it's been the worst week for the dow points wise in any year since 2008. it has lost more points this week than any year in total since 2008. the

i'm mark crumpton. this is bloomberg. >> live from bloomberg world headquarters in new york, i'm vonnie quinn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. here are the top stories we are following from around the world. a tumble in u.s. business activity is rattling investment nerves. the coronavirus is hitting supply chance and creating a warning sign to the world's largest economy. here about the virus has spread to commodities. brent oil is falling, snapping an eight-day winning streak. we speak to the head of the american petroleum institute about the demand for oil. deere posted it on it expected -- an unexpected increase in quarterly earnings. one of there outliers today. major averages are lower. they are off their lows but still down a percentage point on the s&p 500, 0.8% on the dow jones. really, the story is in treasuries. checked the low on the 30 yada yada, and it got to 1.38 and change. we are back up to 1.92. it was a massive move in the 30 yada yada, out of ri

i'm mark crumpton. this is bloomberg. shery:shery: live from bloomberd headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. shery: here are the top stories we are following from around the world. no rest for the markets. stocks coming off of their worst session in two years. ands&p 500 at session lows on track for its fourth straight day of losses. this amid worries the coronavirus will take a bigger toll on global growth. mastercard and united airlines joining a course of companies warning about the impact of the virus on their bottom line. jamie dimon raising concerns about the effects of negative interest rate. we will bring you the highlights from jpmorgan's investor day. amanda: let's get a quick check on the major averages. as you alluded, we are seeing another day of declines. like they might be positive at the get-go, but there is plenty to chew on today that is causing negativity, including the cdc today saying the potential for an outbreak must be factored into the u.s. across the b

mark: i am mark crumpton with first word news. the democratic party is going to release most of the result from the caucuses by 5 p.m. new york time today. troy price said they worked through the night to check the quality of the results and collect any data it did not already have. joe biden's campaign is pushing back saying it is worried about the accuracy of the results. president trump will pivot tonight from impeachment to his drive for reelection. he will deliver the annual state of the unit address. the theme is the great american comeback. he will speak before congress. tomorrow they are expected to includ acquit him tomorrow. a second death from the coronavirus reported outside china. they said the victim was a 39-year-old man who had an underlying illness. china says the number of confirmed cases is more than 20,000. at least 425 people have died. to stem taking steps the spread of the virus.

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. they: morgan stanley making biggest acquisition by a wall street firm since the financial crisis. the bank agreed to buy discount anchorage -- brokerage e*trade in an all stock takeover. risk off in the markets. stocks tumbling and bonds sinking to their lowest level in three weeks. one strategist says there is a correction ahead. that conversation, coming up. and the gloves are coming off for the 2020 presidential contenders. highlights from the democratic debates as we look ahead to nevada and south carolina. amanda: quick check on those major averages. a little bit of a change in tone today, off record highs, and a sharp decline in the middle of the day. downdraftsaw a sudden for stocks. could be algorithms, fears of coronavirus. there is a broad look at the markets. is still&p 500, tech leading the declines,

mark: i'm mark crumpton with bloomberg's first word news. japan will close schools nationwide to help control the spread of the coronavirus. the government said today that all schools were remains shut in till spring holidays begin in late march. the measure affects nearly 13 million students and 35,000 schools. japan now has almost 900 cases of the virus, including nearly 705 from a quarantine cruise ship. russia wants its last remaining nuclear treated with the united states to be extended. russia says there is no time to negotiate any changes to the treaty. in 2010 byigned president barack obama and then russian president dmitry medvedev limit its country to no more than 350 deployed nuclear warheads and 700 deployed missiles and bombers. australian timothy weeks, who was held captive for three years --the taliban, is an of atar for the signing peace

i'm mark crumpton. this is bloomberg. it is 1:00 p.m. in new york, six :00 in london, 2:00 a.m. in hong kong. i'm vonnie quinn. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories we are following. a sea of red for global stocks. the s&p 500 wiping out its 2020 gains and posting its worst day in two years. investors fearful as the coronavirus spreads far beyond china, potentially upending global economic growth. seek safe havens, gold looms toward $1700 an ounce. we talked to the ceo of sibanye stillwater, who may target m&a worth $5 billion to expand its gold portfolio. kailey leinz is with us halfway into the trading day. the dow is down more than 1000. kailey: we are deeply in the red, down more than 3%. 2018, driven since by fears of the coronavirus. there is a lot of conviction behind the selling. volume about 40% above average for this time of day. the dow now down by more than 1000 points. the s&p down by more than 100. that is the first time we have seen that in so

mark: i'm mark crumpton with first word news. a cruise ship stranded at sea for two weeks after being refused entry by four countries finally docked today in cambodia. thailand, japan and the philippines refused to allow it to dock over fears it would expose them to the coronavirus. the ship operator says no cases of the virus have been confirmed among the more than 2200 rew.engers and ce opposition politics since -- politicians interrupted a state of the union speech in south africa, forcing the president to delay his remarks for over one hour. business leaders have been cking the pressure on the president there to announce decisive measures to turn around the economy and fix struggling state owned enterprises. by speech had been billed business leaders as the most important since nelson mandela's speech in 1994, the first after apartheid ended. venezuela saying the u.s. should stop punishing with financial sanctions. officials are taking their case to the iti

i'm mark crumpton. this is bloomberg. ♪ shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda laying. welcome to bloomberg markets. here are the top stories we are following from around the world. onna is slashing tariffs about $75 billion of u.s. goods, coinciding with the u.s. phase one reduction in imports from china. trade optimism is helping to push stocks to new records. the s&p 500 is on track or its best four-day winning streak since june. good news for deutsche bank. they have won the backing of a major u.s. fund manager. that set the shares higher by the most in four years. shery: let's get a quick check on the markets. it is another risk on day with a rally and equity markets. the s&p 500 gaining for a fourth consecutive session, pushing again to record highs. we see communication and consumer staples leading the gains. more optimism after china said it would cut the tariffs on $75 billion worth of u.s. imports by complying with that p

for news we go now to new york and mark crumpton. mark: opec is feeling the pain from the coronavirus. the cartel has slashed forecasts. fuel useeak has curb in china. that leaves opec facing a renewed glut. he reduced projections for demand growth in the first quarter by one third. boris johnson is criticizing the u.k.'s extradition treaty with the united states has imbalanced . his government continues to demand a diplomats wife who fled the country following a fatal car crash. u.k. politicians have complained about the extradition treaty, which came into force under tony blair's labor government and the 2007. pope francis is not saying whether he will approve the ordination of married men to address a shortage of priests in the amazon. the pontiff sidestepped the issue that has dominated debate in the catholic church recently. urged bishopsis to send missionaries to the amazon. former massachusetts governor deval patrick has dropped his bid for the white house. patrick entered the democratic race just three months ago. he is endin

i'm mark crumpton. this is bloomberg. david: thank you, mark. the death toll continues to climb from the coronavirus, as do the number of those infected. although the human loss and front room is front and center, it's also having substantial effects in the business world, including in the auto industry. we welcome an expert in the .lobal supply chain, sig huber earlier, he was the global director at fiat chrysler. good to have you here. let's talk about what we know going on in the auto industry in china. where this isrea was actually important to the auto manufacturers. sig: a very important part of the country for production of automotive components. a lot of the parts that go into tierehicles that may be a 2, 3, 4 level could be coming from this region. david: we have seen a number of sales of autos in china was falling. it was not robust before. they had been struggling for about a year with auto sales. what is the likelihood of a supply chain problem, that even when it comes back up, they will not have parts? sig: we are already seeing a p

i'm mark crumpton. this is bloomberg. the trump administration reportedly has decided to pair exemptions for oil refineries from u.s. requirements to use biofuels. this comes in response to a federal court ruling last month. this has been an issue of some controversy. reportedly the trump administration will go along with that and cut back on the exemptions for biofuels. the coronavirus has continued to spread with the last confirmed case in latin america. trump will speak today about u.s. efforts to control the epidemic. we welcome dr. daniel perlman, professor of microbiology and immunology. thank you for being with us. how can one contract this virus as far as we know? >> most people who contract it via respiratory route. they will get it on their hands and convey it to their face, mouth or nose. it may also be spread through the air that this is much less likely. at a distance greater than three feet. and we an aerosol virus think it may have a component but we haven't really proven that. there is also some concern th

am mark crumpton. this is bloomberg. scarlet: for more on the coronavirus, let's bring in bloomberg's shery ahn. but whats keep rising i am paying attention to are the people been caught up in this inadvertently. there is a cruise ship wandering around asia, trying to find a port to embarq. no one will let them. shery: they tried while, awayand, they were turned on concerns that there might be people on board with the coronavirus. february 1.d it was supposed to be a 14 day trip. they still have fuel and supplies. i have seen a ship docked where we have more than 100 people, confirmed cases of the rotavirus. -- the coronavirus. given that it is such a close environment, the concern is, will people just be spreading it around to each other? romaine: there has been some criticism of the way beijing have responded. we are from the prime minister of singapore. shery: he reassured them, something that played out well throughout singapore. videoeased a nine minute on sunday and said the fear viruse more harm than the itself. t

we go down to mark crumpton in new york. mark: the latest polls indicate that bernie sanders will win today passes and enter primary. he has opened up a lead over mayor pete buttigieg, joe biden, and elizabeth warren. a new national poll has sanders for the topiden spot. senate majority leader mitch mcconnell is urging senators to reject the measure that will restrict president trump has is billy to take military action against iran without congressional authorization. a group of republicans have joined with democrats to rein in the president after expressing frustration with the administration's justification generaling iran's soleimani. , theirphilippines president plans to scrap the military agreement with the united states. that was likely since a six-year term that began in 2016. it is it's better to bring the filkins closer to china. he has been unhappy with the u.s. since he canceled the visa of a man who oversaw his deadly drug war. weinstein's harvey rey trial will not hear from the mogul himself. its casese rested

i'm mark crumpton. this is bloomberg. romaine: first it was a trade war, now it is the coronavirus that maybe solidifying opinions. let's bring in bloomberg opinion columnist brooke sutherland. the past used, for three decades or so, we created where wely chain, could get things from china or some other country relatively quickly, cheaply. a lot of people seem to be questioning whether that is still wise. brooke: you have to think about why we did that in the first place. efficiency and cost savings. we are now finding out that it is not always the most productive. we should not put all of the supply chain on china, which i think it's very valid. the shifts into vietnam, there were some grumblings in the trump ministration about this flow of goods going to vietnam. of them claim they are localized, but the fact that you did see the tariffs influencing their costs as much as it did suggests that the circle is not fully closed. joe: you hear about companies having to diversify supply chains. but does the -- what does it rea

i am mark crumpton. this is bloomberg. scarlet: the candidates ripped into each other last night ahead of the saturday primary. most of those attacks were aimed at bernie sanders, the front runner. >> not only is this a way to get donald trump reelected, we have senate to worry about, a to worry about. work,ug in, i did the then bernie's team trashed before it. not passed much of anything. putin thinks that donald trump should be president. that is why they are helping you , so you lose to him. scarlet: for joe biden in particular, saturday's primary is crucial. this is the one state where we think he could show some big numbers. >> right now, it looks good for joe biden. a poll showed him in first place, followed by tom steyer, 13% it iss with looking good. but south carolina might not be enough. this is kind of the baseline of what joe biden needs to do. what is interesting about south carolina is one of the four early states, super tuesday, next week, you have a lot more delegates up for grabs. joe biden not only needs

i am mark crumpton. this is bloomberg. currency markets bursting to life, the dollar emerging as the winner, rising by most since september. the yen suffered its biggest 2017 decline going back to joining. us for more analysis now joining us now for more is our guest. what is behind this? is this a haven play? the intensity of the inonavirus is concentrated asia and hasn't affected u.s. activity so much. residual 20% to 25%. the ecb said they could cut rates and that would help them. there has been a lot of capital , more than japan expected, affecting the yen. of: the yen has gotten a lot people's attention in the last few days. is related toat the coronavirus? >> that is a hard question because it has happened suddenly. there have been some lingering factors, as i mentioned before, some discussion of merger is they and then there coronavirus, so we are not sure which one it is. romaine: is the general issue that these will be temporary? we will see a snap back to normal? hoping and is praying that will be the outcome. i

we turn now to mark crumpton. mark: as our colleague laura davidson was telling us, president trump virtually guaranteed to win acquittal later today in final senate votes on articles of impeachment. alabama democrat doug jones said he will stick with his party and vote to convict the president on both charges. the decision put jones's reelection at the deeper rest. he is the most vulnerable democrat in the senate up for reelection in a republican leading state. joe biden's third presidential bid is entering a critical stretch after disappointing finish in the iowa caucus. the former vice president says he had a good night in iowa even as he trailed former south bend indiana mayor pete buttigieg and the leading progressive, senator bernie sanders. that has some democrats questioning his contention he will reclaim frontrunner status in the race against president trump. the world health organization says $675 million is needed to help countries handle the expected spread of the coronavirus. the head of the who ackno

. ♪ ♪ mark: i'm mark crumpton with bloomberg's first word news. a defiant president trump took a victory lap today and took shots at house democrats and other critics a day after the senate acquitted him of impeachment charges. at the white house, the president said of his impeachment "it was evil and it was corrupt." he added "this should never ever happen to another president ever." trump: this is sort of a day of celebration because we went through hell, and i am sure chuck, the only time i ever saw them cry was when it was appropriate. crying chuck. but i am sure they will try to cook up other things. mark: earlier today at a prayer breakfast with speaker pelosi seated nearby, the president said "as everybody knows, my family, our great country, and your president have been put through a terrible ordeal by some very dishonest and corrupt people." senator bernie sanders is declaring victory in the iowa caucuses despite being essentially tied with south bend, indiana, mayor pete buttigieg as the count was ongoing. speaking in new hampshire, the

. >> i'm mark crumpton with first word news. the chinese city with the coronavirus outbreak began is further tightening its already's direct quarantine on residence. officials say people won't be able to leave their neighborhoods except to see -- seek medical care or assist in vital functions. there more than city 4000 cases globally. more than 99% of which are in china. michael avenatti has been convicted of trying to extort as much as $25 million from nike and defrauding the client in the process. the verdict could lead to a long prison sentence for the lawyer who entered the national spotlight by representing adult film actress stormy daniels in a suit against president trump. he maintained the case was political payback for his clash with the president. he will be sentenced in june. the united states and the taliban have reached a truce agreement. a senior u.s. official says the deal will take effect very soon and could lead to withdrawals of american troops from afghanistan. developments, secretary of state mike pompeo and

in new york, i am mark crumpton. this is bloomberg. bond investors have been sending the strongest signals yet. they doubt central bankers will be able to revive inflation, that risk off move hardening as the epidemic as spread to more than 30 company -- 30 countries with italy locking down an area of about 50,000 people there milan. institute, manhattan senior fellow. let's talk about the general economic outlook. there was a sense that as long as this was detained within china, there was not going to be a huge global growth impact. the concern now seems to be that you cannot necessarily divorce the u.s. and the rest of the world from what is going on in china. one, it is spreading internationally. in other see shut down countries. people are starting to get a sense of how global integrated supply chains are. chinese factories shutting down for weeks or maybe even a month can really have repercussions all over. how he wrote a book about people think about risk. from your research into the concept of risk, how do you think about supply

mark: i am mark crumpton with "first word" news. julian assange's lawyers told a london court there will provide evidence that president trump was prepared to offer the wikileaks founder a pardon if you agree to say that russia was not involved in leaking democratic national committee emails during the 2016 presidential election campaign. assange is fighting extradition to the united states on spying charges. emails embarrassing for the democrats and hillary clinton's presidential campaign work hacked before being published by wikileaks in 2016. democratic presidential candidate michael bloomberg faces his rivals in person for the first time tonight in las vegas. he will take part in his first debate could the latest national poll has bloomberg in second place with 19%. bernie sanders leads the way with 31%. bloomberg is the founder and majority owner of bloomberg lp, the parent company of bloomberg news. the united nations security council received an update on the humanitarian situation in syria, and the news was not good. >> we a

i'm mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i'm vonnie quinn. >> live in toronto, i'm jon erlichman. here are the top stories we are following from around the world. cleveland fed president loretta mester says recent announcements tied to stable coin are to wake up call to regulators. we talk to the ceo behind the first canadian dollar back table coin. in just a moment, we speak to canadian defense minister hargett said jen. his thoughts on huawei and the new nato. there is an oilman on jpmorgan's board and climate activists want him out. why he may be a problem for the bank. we been fluctuating between small gains and losses throughout the day. it is a product on into a long weekend, no training on monday. the s&p is down .1%. the nasdaq is down about .1%. no huge moves but there are some individual moves including expedia, nvidia, both rising 10% next to earnings. within the individual indices, a lot of movement. without, maybe a few market jitters

mark: i'm mark crumpton with bloomberg first word news. the director general of the world health organization says china has reported a total of ovid-19 to thef c agency, 239 fidelity's. in the past 24 hours, china has reported 892 new confirmed cases and 118 deaths. the significant decline in new confirmed cases is partly due to another change in how china is reporting its figures. concern continues to be 19 tootential for covid- spread in countries with weaker health systems. tomorrow, i will address an emergency meeting of african health ministers held jointly by , and thean union african centers for disease control and prevention. the: the who ads although total number of cases outside china remains relatively small, it is concerned about a number of cases without a clear

i am mark crumpton. this is bloomberg. ♪ vonnie: i am vonnie quinn. amanda: i am amanda lange. looking to "bloomberg markets." vonnie: the roaring 2020's. a new decade starts on a higher note and wage gains are accelerating. equities hit the pause button. u.s. stocks fall after a four-day rally. the coronavirus presented new risk to the economic outlook. the cloud moment fresh fourth-quarter earnings. alphabet's ceo lays at her vision for the tech giant's future investments. our interview with her in the next half-hour. amanda: a quick check on the major averages. we are giving up some of the gains of recent sessions, snapping the winning streak here . likely to see the broad markets up on the week, and that includes the s&p 500. we do have the fed now factoring in coronavirus to global growth. the words new risk will get bandied about. we will talk about that coming up. you can see markets are weaker on the declining side. we are definitely seeing tech stocks showing leadership, but materials and energy are guiding lower. one reason is oil reaching $51 for wti. the 10-year, we

. ♪ m i am mark crumpton. president trump has been handed a victory against a lawsuit by 215 congressional democrats who said he violated the constitution's emoluments clause s. the president was accused of profiting from forward spending. a federal appeals court in washington dismissed the case, saying nevers of the house and senate lacked standing to sue the president. the outbreak of the coronavirus will not stop china from eating purchase goals outlined in the recent trade deal with united states. white house economic advisor larry kudlow tells bloomberg chinese president xi jinping told president trump iphone phoneg will keep up --by beijing will keep up its end of the deal. >> he assured president trump while there might be some delays in the purchase of american exports, the job, the markers, the $200 billion over the next couple of years will be met. has: kudlow says china informally asked for exceptions to the purchasing targets,

. ♪ mark: i'm mark crumpton with bloomberg first word news. federal prosecutors have decided not to file any charges against former fbi deputy director andrew mccabe. the justice department's inspector general had accused him of repeatedly lying about authorizing a subordinate to share information with a newspaper about an fbi probe into the clinton foundation. mccain has denied he intentionally misled anyone. is 2018 firing was politically motivated. defense officials are standing behind her decision to divert nearly $4 billion in funding for military aircraft and other programs to help pay for a walk on the u.s. mexico border. some in congress and the move was illegal. defense secretary mark t. esper border security is national security, and our national security is our mission. the pentagon also indicated that more money may be moved to pay for the wall. city wherechinese the viral outbreak began, is taking new steps to slow the spread of the infection. officials say residents must stay home who are set to receive medical ca

. ♪ mark: i'm mark crumpton with bloomberg first word news. a deepening health crisis is also becoming an economic one. the coronavirus outbreak is having financial markets, and thing shops and businesses and putting major sites and events off-limits. there are confirmed cases in nearly 60 countries. more than 83,000 people around the world have been infected. 2800 have died. house official is an knowledge in the coronavirus is likely to cause disruptions to everyday life in the united states. >> are you going to see some schools shut down? probably. may you see impacts on public transportation? sure. but we know how to handle this. commentsvaney made the outside washington, d.c. today. the trump administration cannot make central american immigrants wait out the results of their asylum applications to the u.s. and mexico. court in saneals francisco today upheld the judge's order barring the policy which prevents immigrants from living in the u.s.

. ♪ with i am mark crumpton bloomberg's first word news. we are expecting to hear from the iowa democratic party shortly. releases say they will most of the results from by 5:00 p.m.uses eastern time. they said the party worked through the night to check the quality on the results. joe biden's campaign is pushing back. stay tuned to bloomberg as our special coverage of the iowa caucus results. housemcconnell slamming democrats trying to impeach president trump as, "the most rushed, least fair, and least thorough in history." he opened the session by calling the impeachment charges constitutionally incoherent. has deniednell questions about whether trump's actions were appropriate. print -- aising wide-ranging press covers today. one of the topics was the response to the coronavirus. epidemic been an situation that has been growing in a meaningful way. china has in its resources and in his capacity -- enormous resources and enormous capacity to respond. added that china itself was the first to recognize that. china's consul general in new yo

i'm mark crumpton. this is bloomberg. >> lets you get -- let's get you back to some of the earnings. the companych sells, this will be the second .uarter rangeactually within the of about 2.5%. indication --ting >> marginally higher in after-hours trading. the sales forecast for this quarter beating the average analyst estimate and according to ian king, a reporter in san forecast, the customers have started to return to spending more on their factories. for now, we are seeing stocks at a gain of three tencent 1%. -- sox at a gain of 3/10 of 1%. that the fourying q revenue is going to be a little lighter than what analysts were expecting. adjusted eps for the fourth quarter, the estimate on average was one dollar and $.40. with bernie sanders victory in the new hampshire primary, investors are trying to consider how the stock market would fare if he were the president curated and member when it looks like elizabeth warren picking up steam, last year the market started to falter, today's victory shows ye

i am mark crumpton. this is bloomberg. this is possibly the worst thing i've seen in my career. scarlet: i think a rate cut is on the table. >> i think the fed will respond by lowering rates. policymakers are going to do everything possible to prevent the u.s. from going into a recession. >> it will not encourage somebody taking risk. >> even if they don't see the hard evidence. two cat -- to cut or not to cut. the fed may be forced into an emergency cut if the virus gets worse. joining us for more is seth carpenter. so great to have you here. cut your perspective, is a baked in? i don't think it has been baked in. we have been -- the economy is starting to slow down. the coronavirus, 15% or whatever in equities have to be rattling their cages. i think the fed would like to see evidence. that will be the truly difficult part. to the biglly comes disruptions, they have to make a value judgment. scarlet: is the thinking they will cut if there is evidence unless there is evidence otherwise? >> my sense is the baseline is not to cut. the first sentence today was the u.s. economy is

. ♪ with i am mark crumpton bloomberg's first word news. usually bustling streets and transit ports look more like a ghost town as the death toll for the coronavirus rises to at least 910. canada's finance minister now says the virus will have an impact on that country's economy. donald trump says the united go -- is "in good shape "in good shape." the justice department would not confirm if there is an investigation into joe biden and his son hunter. attorney general barr spoke to reporters a day after lindsey graham told cbs that the justice department had a way to get information gathered in ukraine by the president's personal lawyer, rudy giuliani. the attorney general said he told senator graham that any such information must be vetted. agendas ine a lot of the ukraine, a lot of crosscurrents. from take anything we see the ukraine at face value. we have established an intake process in the field. mark: the fbi's deputy director did not answer when asked if joe biden or hunter biden were under investigation. two killed in an exchange of

i'm mark crumpton. this is bloomberg. romaine: some breaking news on blue apron. delivery mealod kit company. the company is saying it is considering a range of options. obviously struggling with issues it isales growth and evaluating a range of options including a sale. joe: gold continues to rally. havenhe coronavirus, safe assets continue to look attractive. joining us now with our outlook is standard chartered bank precious metals analyst. gold over $1600 an ounce, highest level since i think early 2013. do you begin to think about the fundamentals or put a price target on here -- on it from here? >> factors and support on the downside. most importantly it is the upside risk. the last time we saw this move higher above 1600 was when we saw another negative shock to the market. this time, we are again seeing that safe haven buying. but we are looking at is whether investor positioning is overcrowded. we don't think tactical positioning is stretched in we don't think etf holdings are overstretched? romaine: what about the correlation with the dollar. we saw the

i'm mark crumpton. this is bloomberg. >> let's turn to china and the economy there under strain. beijing planning to take over hna group and sell off its airline assets. the latest example resident x -- president xi jinping's government trying to halt the coronavirus outbreak. hna has been no stranger to a lot of speculation about its debt load. we seem to get word today that china found an answer to deal with it. >> this could be the proverbial straw that broke the camel's back. hna has long-running challenges regarding its liquidity given the acquisition spree that its debt file to as high -- pile to as high at $26 billion. its aviation routes focus has -- roots focus has backfired due to the coronavirus outbreak, adding to hna's financial woes. we will find if the government will follow through with its potential takeover of the hna group, this is the chinese government considers other mergers and a package. >> this news on hna, could it be the beginning of what the chinese government has to do ultimately to back up industries even beyond the fiscal boost everyone is expecting

. ♪ i am mark crumpton with bloomberg first word news. alexander of inman, who testified in president trump's impeachment trial, was escorted out of the white house. his lawyer says benjamin was asked to leave first telling the truth. vindman was one of the democrats' most crucial witnesses in their impeachment proceedings. he's a decorated army lt. col. who raised the alarm over the telephones july 25 call with ukraine's leader. china has named two officials to take charge of the response to the coronavirus outbreak as the government attempts to slow the spread of the illness. a new report in the journal of the american medical association says the infection has been spreading inside a wuhan hospital. there are more than 31,000 cases worldwide, 99% of them in china. more than 630 people have died. it wasn't engine failure that caused a helicopter carrying kobe bryant, his daughter, and seven others to crash last month. to a reportrding today from the national transportation safety board. the helicopter crashed into a mountain outside los