What to Watch Ahead of the Close: Markets, Coronavirus, Airlines

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It's Monday!

Here are the top stories to watch as we approach the closing bell.

Watch the full video above for more.

Video Transcript:

It’s Monday, March 16.

Let’s give you a quick update on the top stories driving the markets Monday.

We’ll be looking at the markets, coronavirus and the big banks.

Stocks were tanking in trading on Monday, despite the Federal Reserve’s surprising rate cut on Sunday.

In fact, the S&P 500 dropped over 8% right at the opening bell, which caused a circuit breaker to kick in and halt trading for 15 minutes.

Right now, the major indices are floating down around 8%, with the Dow pushing closer to being down 9%.

Level two of Limit Down will kick in if the S&P 500 drops 13%. If this happens before 3:25 PM Eastern, then trading will once again halt for 15 minutes. However, if it happens after 3:25, then trading will continue on as normal.

And then there’s the coronavirus.

According to Johns Hopkins, there are over 169,000 cases of the virus worldwide, with 6,500 deaths.

The U.S. has over 3,700 cases, with 69 deaths.

According to data from Johns Hopkins, the hardest hit places in the United States are Washington--which has over 760 cases, Washington, which has over 450 cases, New York with over 740 cases and Massachusetts with over 140 cases.

U.K. Prime Minister Boris Johnson has said that Brits should cease all non-essential contact.

Let’s take a look at the airlines...

Airlines are now seeking more than $50 billion in aid as the coronavirus wrecks its business. The airlines are saying that running out of money by the end of the year is becoming a real possibility without any aid.

In the past month: American Airlines is down nearly 50%, United Airlines is down over 53%, Delta is down around 38%, Southwest is down 33% and JetBlue is down 50%.

We’ll keep you updated on all of these stories, and more over on TheStreet.com

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