Sensex down by -1941.67 - Why sensex is falling today ...

this is an NBC News special report here's Lester Holt good afternoon everyone it is four o'clock in the East markets have just closed and what a day.

it has been a big sell-off on Wall

Street the Dow closing down about

nineteen hundred points actually over

two thousand points there the biggest

point drop ever by far and a substantial

percentage drop as well down almost 8

percent today alone driving all this is

fear and continued uncertainty over the

corona virus outbreak and its impact on

the global economy as well as a sharp

drop today in oil prices.

Tyler Mathison is standing by for us at

CNBC Tyler break it down for us what

happened well well Lester this is one

for the record books as you mentioned

the largest point drop in history for

the Dow and certainly in the top six or

seven in terms of percentage terms we

haven't had this kind of decline since

the era of the big crash years and years

ago there back in the 1980s in truth you

nailed it really it is concern about the

global economy and how the coronavirus

may ripple through it slowing growth

slowing corporate profits and making

things just generally much more

uncomfortable for the global economy

you mentioned oil what's happened there

is that production is too high to

justify where prices were and over the

weekend a price war broke out between

two of the largest producers in the

world Saudi Arabia on the one hand and

Russia on the other and that has sunk

prices down to multi-year lows in the

$30 a barrel good for drivers not good

for jobs in the Permian Basin in the

shale oil areas up in North Dakota and

other places and it is certainly a sign

that the global economy is weakening we

are now nearly in bear market territory

Lester we're off within a percentage

point or so of that 20% decline in the

markets that signals a bear market all

right Tyler Matheson Forrest thank you a

lot of moving parts in the coronavirus

front today on the west coast the cruise

ship Grand Princess finally docked with

thousands on board including some who

have tested

positive for the coronavirus Erin

McLaughlin is an Oakland Erin Lester

board the Grand Princess right now

relief and arrived here at the dock

about an hour ago as it made its way

under the Golden Gate Bridge the

passengers could be seen out on their

balconies cheering they've been living

under a cloud of uncertainty since last

Wednesday

now some relief that they're here at

Port they've yet to be allowed off the

ship but when they do there will be

three separate groups the first group

including the sick and the symptomatic

those potentially suffering from the

corona virus followed by a group of

Californians will be brought to a nearby

military base and then the rest of the

passengers all of the passengers will be

under quarantine for a period of 14 days

they'll be tested for the corona virus

over a thousand crew members however

will remain on board the vessel they'll

then take it out to sea destination

unknown the entire process expected to

last two to three days Lester all right

Erin in Oakland thank you Tom Costello

has been tracking the corona virus

outbreak he has more for us now from

Washington what's the latest on well

we've got about two two dozen deaths a

nationwide 22 is the number right now

546 cases but every public health

official stresses that in fact the real

number of cases is certainly far greater

than that we simply haven't had testing

widespread for the last few weeks and

months and so the presumption is many

many more people already have had and

have the corona virus most of them

probably self treated at home and did

not require hospitalization we've also

got three members of Congress right now

who are self quarantine II because they

themselves now have been in contact with

somebody who had the corona virus that

includes Senator Ted Cruz of Texas

meanwhile amazon.com this giant of

course in the retail space is now

Milan Tomic

Hi. I’m Designer of Blog Magic. I’m CEO/Founder of ThemeXpose. I’m Creative Art Director, Web Designer, UI/UX Designer, Interaction Designer, Industrial Designer, Web Developer, Business Enthusiast, StartUp Enthusiast, Speaker, Writer and Photographer. Inspired to make things looks better.