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President Xi Jinping Visited Coronavirus Epicenter; Coronavirus Plus Oil War Drags Stocks to the Bottom; Israel Wants Incoming Citizens to Self-Quarantine; Michigan a Make or Break for Bernie Sanders. Aired 3-3:30a ET
Aired March 10, 2020 - 03:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ROSEMARY CHURCH, CNN ANCHOR: We are watching markets around the world after fears over the coronavirus and the oil price will led to a dismal day on Wall Street.
The Chinese president is visiting Wuhan, the epicenter of the outbreak, a sign Beijing thinks the worst is behind them.
And Italy is clamping down on travel and big gatherings urging all 60 million of its citizens to stay home.
Hello and welcome to our viewers joining us from all around the world. I'm Rosemary Church. And this is CNN Newsroom.
Good to have you with us.
So, amid all the frightening headlines about the novel coronavirus there is a glimmer of hope. China is reporting its fewest new cases since mid-January. Also, the World Health Organization says more than 70 percent of China's confirmed cases have recovered.
But the situation is very different in Italy where the entire country of 60 million people is now on lockdown. Israel is requiring a 14-day self-quarantine for everyone entering the country and that includes Israeli citizens and foreign nationals.
And in the U.S. the Dow plunged more than 2,000 points, the worst one- day-point drop ever, prompted by lingering fears over the virus, and an oil price war that stunned markets around the world.
U.S. markets are poised to rebound with futures up sharply right now. Markets in Asia mounted a modest come back. On Tuesday you see there the Nikkei up .85 percent. Hong Kong's Hang Seng up nearly 2 percentage points there.
And CNN's Matthew Chance is live in Moscow with more on the battle over oil production between Russia and Saudi Arabia that help drive markets down. But we begin in Tokyo with journalist Kaori Enjoji. So, Kaori, talk to us about this rebound, this optimism that we are
possibly witnessing there across Asia markets and what might be ahead on Wall Street.
KAORI ENJOJI, JOURNALIST: Well, Rosemary, I think the rebound that we are seeing on the equity markets in Asia and this rally that we're seeing in Dow Futures ahead of the open, is a little bit of two -- bit of two factors. One I think it's a little bit of position squaring after the huge selloff. I mean, 7 percent decline on the three major indices overnight was a shock to all investors.
And then you have this expectation that the U.S. administration will come out with some kind of measures possibly even tax breaks, to try and cushion the blow, the economic fallout from the ongoing coronavirus situation.
And that, I think that expectation is fueling a lot of investors to square up their positions before we get the details. And there's going to be a similar move by the Japanese authorities as well, which is also trying or struggling to contain the virus here in Japan, and they are expected to top up some of the economic stimulus measures that they announced three weeks ago.
And on top of that, you have a united effort by central bankers and finance ministers to try and put together some kind of fiscal stimulus, monetary stimulus, to try and help businesses who are struggling with this prolong virus outbreak.
So, I think that is the trigger for the rebound. On top of that you have a rebound in the dollar-yen, you have a rebound in oil price but still a long way to go before we make up for this very, very steep losses on Monday.
For the day we've seen a huge rebound in Tokyo, equities once below 19,000 haven't seen that for more than one year, but then now back above that level to trade, to close the day at 19,867.
I think that's the backdrop that we're seeing today, but still a lot of nervousness in the markets, because we still don't see a light at the end of the tunnel in terms of the virus itself, Rosemary.
CHURCH: Yes, absolutely. Watching very closely, Kaori Enjoji bringing us the very latest numbers there. I appreciate it.
All right. Let's turn now to Matthew Chance. Matthew, where is this oil price war going? What's Russia's likely next move?
MATTHEW CHANCE, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well, I mean, the Russians have made it pretty clear, that they do not believe that further production cuts are the right way to go. The Russian position is that when you cut production of oil it simply, you know, allows U.S. shale producers to step into the breach and it keeps them in business.
[03:05:01] And Frankly, after doing that for several years in coordination with OPEC in a gathering called OPEC plus, which involve Russia and other oil producers and OPEC, they just they're tired of it and they basically said to their partners, look, we don't believe this is the right way forward anymore. We believe it's counterproductive.
And that led to the massive fallout on Friday during the OPEC meeting in Vienna where the Saudis has essentially said, look, you need Russia to make further cuts, otherwise there will be dire consequences.
And you know, Moscow just did not respond very well to that -- to that pressure and said in that case we're not going to make any cuts at all. And not only that, but the previous cuts that we'd agreed to were not going to extend them.
And after that Saudi Arabia, you know, basically said loo, in that case we're going to target Russian oil customers, traditional customers with much discounted oil from Saudi oil wells. And that led to that dramatic plunge in oil prices.
And there's -- even though there's a possibility in the future of the two sides getting together and instituting cuts, that looks very far off for the moment. Because the real target for this lower oil prices on the part of Russia, and to some extent for Saudi Arabia as well, is those U.S. shale producers.
This is a renewed effort on the part of those two big oil, you know, producing blocks, Russia and OPEC, to really try and drive those U.S. shale producers out of business. They tried it before in 2014, it wasn't successful. You know, we'll see what happens this time around.
CHURCH: Absolutely. Matthew Chance bringing us the latest there from Moscow. I appreciate it.
And Chinese President Xi Jinping has been visiting Wuhan where the virus was first identified last year. This is the time Xi has been to Wuhan since the outbreak began.
CNN's Steven Jiang joins me now from Beijing to talk more about this. So, Steven, of course there is a message that Xi Jinping is trying to send the world by visiting Wuhan at this time. His first time in fact since the coronavirus outbreak. Let's talk about that and those improved numbers.
STEVEN JIANG, CNN SENIOR PRODUCER: That's right. This message is very clear to both the domestic and international audience that the worst of the coronavirus outbreak in China is now over under his strong leadership.
Now the question of course is with the virus spreading fast outside of China, how can the Chinese economy recover quickly given that the rest of the world, including many of its major trading partners are now being hit hard by this pandemic.
But still, Mr. Xi's presence in Wuhan is a major milestone in this country's war against the virus. Now this shows the authorities increasing confidence that things have been brought under control, including at the epicenter. They are confident enough to ensure the health and safety of the most powerful Chinese leader in decades in Wuhan.
This is always on of these benchmarks that people have been looking for when assessing the situation here especially given that initially Mr. Xi had kept a relatively low profile when the outbreak began amid allegations of mishandling or even allege cover-up at least at the local level.
Now of course the government's new confidence comes from their own members, only 19 new cases reported nationwide on Monday, 17 of that -- 17 of those came from Wuhan, a city just a few weeks ago was reporting hundreds, sometimes thousands of new cases on a daily basis there.
That's why the authorities there have now closed down all 14 makeshift hospitals. These were the facilities they had set up when the city's health care system was totally overwhelmed.
The provincial authority has also just announced the relaunch of a new public health app which would attract and assess people -- people's health conditions. And if you are deemed healthy you will be issued a green code to travel within the province or at least within your city.
So, obviously, another sign of they're ready to loosen up these very draconian lockdown measures placed in Wuhan and its surrounding province trapped -- trapping millions of people for over six weeks now.
So, Rosemary, all of these factors really explain why Chinese President Xi Jinping is in Wuhan right now.
CHURCH: All right. And some progress being seen. We like that. Steven Jiang bringing us the very latest from Beijing. Many thanks.
Well, a different story in Italy, unfortunately, as we mentioned it is under total lockdown. Prime Minister Giuseppe Conte announced the move on Monday after a surge in new coronavirus cases and deaths.
And Israel is requiring a 14-day self- quarantine for everyone entering the country including its own citizens.
Journalist Elliott Gotkine is standing by in Jerusalem, but first, we let's turn to CNN's Delia Gallagher who joins us from Rome.
So, Delia, talk to us about this lockdown. Because some critics are suggesting that even though Italy has 60 million people, the population under lockdown this may not stop the spread. That is a concern.
DELIA GALLAGHER, CNN VATICAN CORRESPONDENT: Yes, absolutely, Rosemary. The prime minister's announcement last night there will be a lockdown on all people in Italy. He'd been asking them not to move from their cities or towns until April 3rd except for urgent work or medical needs.
We saw an early reaction from people. The prime minister made this announcement around dinnertime last night, and people in Rome and Naples and big cities that have 24 hours supermarkets were running out to try and stock up on goods.
The government has assured people in Italy, the transport of goods will continue so supermarkets should continue to be able to be stocked. We also spoke to the coordinator of intensive care units in the Lombardi region yesterday and he said they are seeing a tsunami of patients that they are near collapse, putting patients in corridors.
When I spoke to doctors in Rome yesterday, they actually said they were hoping for this lockdown, because the Lombardi region is one that has one of the best health infrastructures in Italy. And these doctors in Rome said if this kind of scenario should come to other regions it would be very difficult indeed.
Excuse me. As if this weren't enough, Rosemary, yesterday, we also saw prison riots in 22 prisons throughout Italy. Inmates in some cases escaped. We are waiting official statistics about whether or not all of those inmates have been returned to their prisons. They were protesting a ban on family visits to their prisons. Rosemary?
CHURCH: Yes. It's a major challenge across Italy right now. Delia Gallagher bringing us the very latest from Rome. Many thanks.
Let's turn now to Elliott Gotkine, as we said, joining us from Jerusalem. So, Elliott, we know Israel is extending its quarantine orders. How are these self-quarantines is going to work exactly, how will they be policed, and what's the latest information you've got on those 50 cases of coronavirus in Israel.
ELLIOTT GOTKINE, JOURNALIST: Well, Rosemary, as you say, 50 cases of coronavirus, more than 20,000 people in quarantine in this country. The vast majority of those cases can be traced to people who either came from abroad or had contact with people that came in from abroad. There is only one case that is stumping them.
In terms of the self-isolation itself, these are possibly the most extensive sweeping measures with obvious exceptions such as Italy of any country in the face of the growing coronavirus pandemic.
And I want to give you a flavor of what it's like for one person that says a semi, what it's like for them to be under quarantine. So, they are on the top floor of their home in self isolation, though his wife and son are on ground floor. He is not only allowed to have contact with them, he has to have wear a face mask whenever he leaves the room, a face and nose mask which he has to change every day.
He has to wash his hands with that kind of ready antiseptic liquid you see in hospitals. His laundry has to be washed separately. He gets calls from his health insurance every day to see if he's got a fever and if he's OK. And he says that his wife has to bring him his food to the top floor of the house, and leave it beside his door every day. And says that understandably perhaps she is going a little bit crazy.
He says the only time he was allowed out of quarantine was in order to vote in the elections here, and even then, he was in a special quarantine booth.
And just finally, regarding the policing. I spoke to a spokesman for the police. he says there are a kind of joint task forces with the ministry of health. They are going to areas where people are in self- isolation, they are checking on people to make sure they are in quarantine as well.
And he says that anyone who isn't, he says in his words is not a case of having him arrested, but mainly just getting them back into quarantine. He says so there are no kind of legal implications at the stage, but that may change further down the line.
CHURCH: Many thanks to Elliott Gotkine bringing us the latest there from Jerusalem.
And in the United States there are more than 700 cases of the coronavirus and 26 deaths so far. The White House has laid out the U.S. government's plan to battle the economic impact of the virus. And President Trump says he will discuss with lawmakers a wide-ranging aid package on Tuesday.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA: We're also going to be talking about hourly wage earners getting help so they can be in a position where they're not going to miss a paycheck.
We're going to be working with companies and small companies, large companies, a lot of companies, so that they don't get penalized for something that's not their faults. Not their fault, it's not our country's fault.
This is something that we were thrown into, and we're going to handle it, and we have been handling it very well.
(END VIDEO CLIP)
CHURCH: Meanwhile, the White House says President Trump has not been tested for the virus despite being in contact with the lawmakers who were in close proximity to someone who was infected.
U.S. Congressman Doug Collins shook hands with the president Friday. Mr. Trump was in Atlanta for a visit to the Centers for Disease Control, Collins is among several lawmakers who had contact with an infected person at a conservative conference last month.
And U.S. Congressman Matt Gaetz flew from Florida to Washington with president on Air Force One. He says he's been tested and expects the results soon. The World Health Organization and the U.S. Centers for Disease Control
have yet to call the virus a pandemic, but some experts say the world is already experiencing one.
CNN's Dr. Sanjay Gupta breaks down what qualifies as a pandemic.
(BEGIN VIDEO CLIP)
SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: The terminology that we're going to start using now isn't so much to cause panic, but rather to really cause a focus on preparedness.
Here is the criteria. You can see there are virus, a new virus that causes illness or death. We know that has been happening. Sustained person to person transmission.
Again, for several weeks now, we know that that can happen, that means not only does one person spread it to two or three others, but then they spread it to three or three others, and this goes on for at least four to five generations.
We know that is happening, and that is happening around the world. So, these three criteria really do seem to be met.
(END VIDEO CLIP)
CHURCH: And to find the latest news on COVID-19, including why CNN is now calling it a pandemic, head to cnn.com/coronavirus.
Well, in the United States the spotlight is on the battleground state of Michigan. Another round of voting gets underway in just a few hours. Why Bernie Sanders needs Michigan to go his way.
CHURCH: It's a big day ahead in U.S. politics. Six states are voting in what's essentially Super Tuesday round two. The two viable Democratic candidates are former Vice President Joe Biden and Senator Bernie Sanders. Both want to claim the bulk of pledge delegates from those six voting states.
For the last few days, they're both been stomping hard in the Midwest, particularly in the crucial state of Michigan where there are 125 pledge delegates up for grabs.
For Sanders, Michigan is the linchpin to his campaign. He told reporters it's possibly the most important state. But Biden has momentum and leads in Michigan as we head into Tuesday's contest.
According to a new poll from Monmouth University, 51 percent of likely Michigan Democratic primary voters choose Biden. Thirty-six percent back Sanders.
CNN's Vanessa Yurkevich reports from Detroit on a critical voting bloc that Biden has performed well with. And one that Sanders is doggedly is trying to reach. (BEGIN VIDEO CLIP)
JOHN HATLINE, G.M. WORKER AND UNION MEMBER: Health is important to all of us.
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: We met John Hatline in this exact spot six months ago, on strike against General Motors in Detroit fighting to keep his union paid health insurance. On Tuesday, he is voting for the candidate, who could take it away.
HATLINE: My vote is going for Bernie here in Michigan, I'm hoping that Bernie Sanders will have as good as health insurance that I have for the whole country.
YURKEVICH: The union vote crucial here in Michigan, nearly 1,600 members strong. Bernie Sanders beat Hillary Clinton in 2016 with their help, but now Joe Biden is fighting to bring them to his side.
President Trump won Michigan by a razor-thin margin in 2016 with the help of Macomb County, a white working-class suburb that voted for President Obama twice than Trump.
At a Sunday brunch here, Elizabeth Warren supporters now looking for another choice.
UNIDENTIFIED FEMALE: I'm leaning towards Joe Biden right now.
YURKEVICH: Some would say that Bernie Sanders actually aligns more with Elizabeth Warren's platforms.
UNIDENTIFIED FEMALE: Yes, you know, in some way he does.
YURKEVICH: Fellow Warren supporter Rhonda Warner is also voting for Biden.
RHONDA WARNER, WARREN SUPPORTER VOTING FOR BIDEN: I think Joe Biden's experience and the support from other Democrats that I know he will need to get policy passed, made him the choice.
YURKEVICH: Bert's Marketplace in downtown Detroit has been a staple in the African- American community for decades. A picture of the Obamas hangs inside. For voters here Tuesday's election is another critical moment.
JAI-LEE DEARING, OWNER, BERT'S MARKETPLACE: I'm feeling like my life depends on, we are praying like hell that Vice President Biden is the nominee.
YURKEVICH: Is he just automatically a shoe-in with the African- American community?
UNIDENTIFIED FEMALE: No.
YURKEVICH: Letrice Murphy is leaning towards Sanders.
LETRICE MURPHY, SMALL BUSINESS OWNER: Bernie Sanders was marching beside Martin Luther King, so I feel that he could get the African- American vote because he was basically down in the trenches with us.
YURKEVICH: But her friend Jennifer Troy is still deciding.
JENNIFER TROY, SMALL BUSINESS OWNER: It's really are kind of boil down to, what I'm feeling that moment when I enter the polling.
YURKEVICH: Vanessa Yurkevich, CNN, Detroit, Michigan.
(END VIDEO CLIP)
CHURCH: And be sure to catch CNN's special live coverage of Sanders and Biden go head to head in a series of key U.S. primaries. Tune in for Super Tuesday round two starting at 9 p.m. in London and 4 a.m. in Hong Kong Wednesday right here on CNN.
And we'll be right back.
CHURCH: CNN is partnering with young people around the world for a student-led day of action against modern day slavery this Wednesday, March 11th. We want to know what does freedom mean to you. Here's what U.S. soccer player Darlington Nagbe had to say.
(BEGIN VIDEO CLIP)
DARLINGTON NAGBE, AMERICAN MAJOR LEAGUE SOCCER PLAYER: To me freedom means feeling comfortable, having the confidence to speak about things that you think are important, and act upon things that you think are important without feeling negative consequences about it.
(END VIDEO CLIP)
CHURCH: And students in Atlanta, Georgia are learning more about victims of sex trafficking, now they are working with an organization to help at risk children.
CNN's Lynda Kinkade has more.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: What freedom means to me.
UNIDENTIFIED FEMALE: Freedom means the ability to be you.
UNIDENTIFIED FEMALE: It means doing whatever you love without limits.
(END VIDEO CLIP)
LYNDA KINCADE, CNN ANCHOR & CORRESPONDENT: Behind the scenes at North Springs High School in suburban Atlanta where students turn amateur filmmakers are raising awareness about modern day slavery.
These videos are set to go public on TikTok, Twitter, and Instagram. In class students are learning about this global problem. A problem that often exists out of the spotlight.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: There is a global slavery index, this is not abolitionists of the 1850s. There is a global slavery index in the world today. I mean, 40 million people, that's insane.
(END VIDEO CLIP)
KINCADE: They're hearing that this isn't just a historical problem, it's happening right now even in their home city.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: Children are working in modern day and I just thought like that's sad. Me as a child I don't want to do that.
UNIDENTIFIED FEMALE: History does repeat itself, especially if you don't talk about it.
KINCADE: Beyond the lessons these students are taking real action, packing toiletries that would be delivered to children at risk of sex trafficking. They're essential items toiletries complete with a personalized note, to let the recipient know that someone cares.
The first year they donated 100 toiletry bags. The following year 200. This year they're planning to pack and deliver around 300.
Explain what you're packing.
UNIDENTIFIED FEMALE: So, what we're is like we're packing toothpaste, deodorant and everything. So, it's a good thing we're doing.
KINCADE: The bags will eventually be collected and sent to an anti- trafficking organization called Street Grace that supports women who are being exploited.
EBONI BELLE, DIRECTOR, STREET GRACE: The packages that the students have formed for us will go out with our street teams, and our street teams are boots on the ground.
KINCADE: How important is it for students and high schools around the country and around the world to understand this problem.
BELLE: You can't stop something if you don't know what the problem is, and you can't act unless you are aware.
KINCADE: It's an awareness that students are doing their part to spread by social outreach and social media. The message of hope that comes in many forms.
Lynda Kinkade, CNN, Atlanta.
CHURCH: And my Freedom Day is a social media driven event, and we'd like to hear your thoughts. Share your story with the hash tag my Freedom Day.
And thanks so much for your company. I'm Rosemary Church. Inside Africa is up next. But first I'll be back with a check of the headlines. You're watching CNN. Stay with us.