Following an historic drop yesterday on Wall Street, overnight Asian markets are up ... as well as stock futures.
OPENING SURGE OF MORE THAN 600PEOPLE.DOUG: SERA CONGI IS LIVE INBOSTON WITH WHAT THE WHITE HOUSEIS PROPOSING TO EASE CONCERNS.MATT: --SERA: YESTERDAY’S DISMAL DAY ONWALL STREET WAS HISTORIC.THE DOW HAS NEVER LOST THAT MANYPOINTS IN ONE DAY -- A 2000POINT LUNCH.MONDAY’S WALL STREET SELLOFF WASEXACERBATED BY A PRICE WAR INOIL SET OFF OVER THE WEEKENDWHEN SAUDI ARABIA CUT PRICES.MOVE SENDING U.S. OIL PLUNGING25% TO $31 A BARREL, POTENTIALLYEATING INTO PROITS OF ENERGYPRODUCERS, WHICH EMPLOYS 6.7MILLION AMERICANS.MEANWHILE PRESIDENT TRUMP SAYSHE WILL ASK CONGRESS FOR MOVESTO STIMULATE THE SLOWINGECONOMY.PAYROLL TAX CUTS ARE ON THETABLE.THE PRESIDENT ALSO PROMISING TOHELP HOURLY WAGE WORKERS SO THEYDO NOT LOSE PAY IN THE EVENTTHAT THEY COME DOWN WITH THECORONAVIRUS OR ARE JUST EXPOSEDAND WOULD HAVE TO SELFQUARANTINE.THE PRESIDENT ALSO PROMISED TOBUT IT IS NOT CLEAR IF ANYGOVERNMENT STIMULUS WILL HELPAMERICANS WHO
Expect another brutal day on Wall Street when the opening bell rings later on this morning. CBS News' Michael George reports.