WEBVTT - Bloomberg Daybreak: March 15, 2022 - Hour 1 (Radio) 0:00:03.080 --> 0:00:06.320 Five from the Bloomberg in director BURKERG Studios is Bloomberg 0:00:06.400 --> 0:00:10.160 day Break for Tuesday, March fifteen two Coming up this hour. 0:00:10.480 --> 0:00:12.960 China tries to avoid taking a hit from the US 0:00:13.080 --> 0:00:16.439 LEDs sanctions against Russia. Stocks followers seas in Hong Kong 0:00:16.520 --> 0:00:19.960 plunging almost six percents dank one under It enters the 0:00:20.079 --> 0:00:22.960 day in bar Territory, and the Fed begins its two 0:00:23.040 --> 0:00:25.880 day policy meeting. The search continues for the government who 0:00:25.920 --> 0:00:28.400 shot homeless men in New York and Washington d C 0:00:28.680 --> 0:00:31.680 plus China SCOVID break times the numbers since the beginning 0:00:31.720 --> 0:00:34.720 of the pandemic. I'm Michael larn Or Ahead, I'm John 0:00:34.760 --> 0:00:38.000 Stashed Howard Sports NFL pree Agency underway. The New Yankees 0:00:38.040 --> 0:00:40.280 joined the team in Tampa on a scary day for 0:00:40.360 --> 0:00:45.519 a star of the Mets. That's all straight ahead on 0:00:45.680 --> 0:00:48.599 Bloomberg day Break on Bloomberg he Living three on New 0:00:48.720 --> 0:00:53.120 York Bloomberg one, Washington d C, Bloomberg one oh six one, 0:00:53.240 --> 0:00:57.440 Boston Bloomberg nine sixties and Francisco Sirius x M one 0:00:57.560 --> 0:01:00.840 nineteen and around the world on Bloomberg Radio dot Com 0:01:01.000 --> 0:01:09.000 and via the Bloomberg Business APT and good morning. I'm 0:01:09.080 --> 0:01:12.720 John Tucker and I'm Karen Moscow, and futures are lower 0:01:12.880 --> 0:01:14.720 this morning. We're coming up to five the one on 0:01:14.800 --> 0:01:16.880 Wall Street, and we checked the markets every fifteen minutes 0:01:16.920 --> 0:01:19.840 throughout the trading day on Bloomberg. Right now, SNP futures 0:01:19.840 --> 0:01:22.520 aren't down twenty six points. Now Future is down two 0:01:22.760 --> 0:01:26.040 d six NASDACK futures down sixty five. The decks in 0:01:26.120 --> 0:01:28.920 Germany is down two and a quarter percent. Ten year 0:01:28.959 --> 0:01:32.600 Treasury up thirteen thirty seconds, yield two point eight percent. 0:01:32.720 --> 0:01:35.640 They yield on the two year one point seven nine percent, 0:01:36.080 --> 0:01:39.360 and NIMEX screwed oil is down five point eight percent. 0:01:39.800 --> 0:01:42.880 It's in ninety seven dollars seven cents of barrel. John 0:01:43.160 --> 0:01:45.040 and Cameron will have more on the markets in just 0:01:45.200 --> 0:01:48.200 a minute, but first, the latest on the war in Ukraine. 0:01:48.640 --> 0:01:53.040 Shelling continued overnight with buildings hit in the capitol Kiev. Meanwhile, 0:01:53.120 --> 0:01:56.200 the US has weren't China about any support for Russa's invasion. 0:01:56.640 --> 0:02:00.200 That end of the story from Bloomberg's head Baxter was 0:02:00.240 --> 0:02:02.840 the first high level meeting between the two since the 0:02:02.920 --> 0:02:07.400 invasion started, and the US calls it a substantial discussion. 0:02:07.800 --> 0:02:10.359 White House Folks Woman Jen Psaki says the message was 0:02:10.440 --> 0:02:13.840 clear if China were to decide to be an economic 0:02:13.919 --> 0:02:17.320 provider or to take additional steps there to Russia. They 0:02:17.360 --> 0:02:21.160 only make up of the world's economy. The G seven 0:02:21.240 --> 0:02:23.720 countries make up more than fifty percent, so there are 0:02:23.720 --> 0:02:26.480 a range of tools at our disposal. China stances that 0:02:26.560 --> 0:02:30.120 the US has been putting out misinformation and that it 0:02:30.280 --> 0:02:34.120 just wants to be a peacekeeper. In San Francisco, I'm 0:02:34.160 --> 0:02:36.679 at Baxter Bloomberg, deybreak all right and thank you. And 0:02:36.800 --> 0:02:40.040 China also wants to avoid being hit by US sanctions. 0:02:40.200 --> 0:02:42.359 We get that part of the story from Bloomberg's Amy 0:02:42.440 --> 0:02:46.920 Morrison our newsroom in Washington. China's Foreign Minister Wang Ye 0:02:47.080 --> 0:02:49.480 says China quote is not a party to the crisis, 0:02:49.560 --> 0:02:52.280 nor does it want the sanctions to affect China. It 0:02:52.440 --> 0:02:54.720 is the most explicit statement yet on the impact of 0:02:54.760 --> 0:02:58.800 American sanctions over Russia's war. Investors are growing more concerned 0:02:58.880 --> 0:03:02.720 that Chinese companies would face similar penalties after Russia asked 0:03:02.840 --> 0:03:05.920 China for military and financial aid. The US has also 0:03:06.040 --> 0:03:09.560 repeatedly warned China to not help Russia try to evade 0:03:09.600 --> 0:03:12.799 those sanctions. China needs to maintain good relations with the 0:03:12.919 --> 0:03:16.480 US and its partners to meet its economic goals. In Washington, 0:03:16.600 --> 0:03:19.440 I'm Amy Morris, Bloomberg Daybreak, Thanks Sammy. The war in 0:03:19.560 --> 0:03:22.519 Ukraine will have a big impact on the economies of 0:03:22.720 --> 0:03:25.639 all fifty states here in the US. It's get the 0:03:25.760 --> 0:03:28.799 latest lie from Bloomberg's RITNEYA Young. Good morning, Rina, Good 0:03:28.800 --> 0:03:31.799 morning John. Although the US has limited trade ties with 0:03:31.919 --> 0:03:35.520 Russia and Ukraine, businesses from beer breweries in Missouri to 0:03:35.640 --> 0:03:39.800 semiconductor plants in California would see an impact. That's according 0:03:39.840 --> 0:03:43.680 to an analysis by Moody's Analytics. Energy producing states like 0:03:43.800 --> 0:03:46.960 Alaska and North Dakota would do better than others since 0:03:47.000 --> 0:03:50.240 the conflict is boosting oil prices, but the two states 0:03:50.360 --> 0:03:54.560 most dependent on cars and driving, Alabama and Mississippi, would 0:03:54.600 --> 0:03:59.120 likely suffer disproportionately from an energy shock. Live in New York, 0:03:59.200 --> 0:04:01.840 I'm Nita bloom Bag debreak. All right, Nita, thank you, 0:04:01.920 --> 0:04:03.720 while turning to the market, as we are seeing more 0:04:03.800 --> 0:04:07.400 pressure on US stocks following yesterday's dropped for the navstack. 0:04:07.520 --> 0:04:10.240 In fact, the NASDAC one hundred index closed in bear 0:04:10.400 --> 0:04:14.680 market territory Sarah Pon Sec, Senior wealth Strategy associate at 0:04:14.720 --> 0:04:17.680 UBS Private Wealth Management, says the market is being hit 0:04:17.760 --> 0:04:20.440 by a one two punch. Not only do we have 0:04:20.640 --> 0:04:23.280 a federal reserve that is now going to be increasing 0:04:23.520 --> 0:04:26.760 interest rates, but at the same time, when we think 0:04:26.839 --> 0:04:31.159 about the Russian invasion of Ukraine, that has major implications 0:04:31.320 --> 0:04:34.800 for global growth, that has major implications for the inflation outlooks, 0:04:35.040 --> 0:04:36.719 and we all know at this point that the federal 0:04:36.800 --> 0:04:41.599 reserves so unilaterally focus on inflation. UBS Private Wealth Management 0:04:41.640 --> 0:04:44.559 Sarah Pon SAX says the NASDAC one hundred has dropped 0:04:44.560 --> 0:04:47.640 twenty one per cent from its closing high back in November. 0:04:47.960 --> 0:04:50.680 And Karen were also seeing the selling continue overseas. Let's 0:04:50.680 --> 0:04:53.960 get the very latest live with Bloomberg's and Pods. Good 0:04:54.000 --> 0:04:57.000 morning you, Good morning, John and Karen. European stock markets 0:04:57.080 --> 0:04:59.919 in the red this morning. That's after session of relentless 0:05:00.040 --> 0:05:03.640 selling in China earlier concerns about the country's ties with 0:05:03.839 --> 0:05:09.000 Russia adding to persistent anxieties about government regulatory pressure that 0:05:09.160 --> 0:05:12.000 sent shares on a downward spiral, with Hong Kong's Hang 0:05:12.120 --> 0:05:17.120 Send closing down five point seven percent. China's CSI ending 0:05:17.160 --> 0:05:19.559 the day more than four and a half percent lower 0:05:19.880 --> 0:05:22.000 here in Europe one hour into the session, and all 0:05:22.120 --> 0:05:25.960 twenty injury groups in negative territory live in London. I'm 0:05:25.960 --> 0:05:28.080 your part spin Big day break, are you and thank 0:05:28.120 --> 0:05:31.080 you all. As we mentioned weighing on the markets, particularly 0:05:31.200 --> 0:05:34.440 here in the US, is higher interest rates. Well. Today, 0:05:34.480 --> 0:05:36.719 the FED begins it's two day meeting where it's expected 0:05:36.760 --> 0:05:39.920 to begin the rate hiking cycle, and Bloomberg's Nnidale Judais 0:05:39.960 --> 0:05:42.560 has more. Even a wink and nod are rare when 0:05:42.560 --> 0:05:46.080 the Federal Reserve concomplete powlicy. In the past few weeks, 0:05:46.120 --> 0:05:49.120 central bankers have turned to the bell and siren signaling 0:05:49.279 --> 0:05:52.839 rates are petted, hired to combat inflation, and most likely 0:05:53.080 --> 0:05:57.159 starting this week, Bloomberg Economics anticipates our quarter point increased 0:05:57.200 --> 0:06:00.440 two years after the pandemic struck, forcing am and see 0:06:00.480 --> 0:06:03.360 FED action to cut rates to near zero. The question 0:06:03.480 --> 0:06:06.320 now is will the Fed's new mission be too little, 0:06:06.360 --> 0:06:10.760 too late his inflation burrows in any doubts Bloomberg Dat Break, 0:06:11.000 --> 0:06:13.520 Thanks Vinnie. One other note on the Fed this morning, 0:06:13.560 --> 0:06:16.960 Democratic Senator Joe Manson says he won't back President Joe 0:06:17.000 --> 0:06:20.320 Biden's nominee for the Federal Reserve Vice Chair of Supervision 0:06:20.720 --> 0:06:24.200 UH Supervision, Sarah bloom Raskin. We get to tales from 0:06:24.200 --> 0:06:28.680 Bloomberg's Charlie Pellett. It likely dooms her confirmation in the 0:06:28.800 --> 0:06:33.400 Senate given broad Republican opposition. Mansion, who represents Cole Rich 0:06:33.520 --> 0:06:37.599 West Virginia and supports an expansion of oil and gas drilling, 0:06:37.920 --> 0:06:42.800 joined Republicans and opposing Raskin over her stance on climate change. 0:06:43.279 --> 0:06:46.080 Raskin has written in the past in support of the 0:06:46.200 --> 0:06:49.919 Fed increasing its attention to financial risks from climate change, 0:06:50.200 --> 0:06:53.280 but said in her confirmation hearing the Central Bank had 0:06:53.360 --> 0:06:56.960 no place in mandating how capital should be allocated among 0:06:57.160 --> 0:07:00.719 industries in New York. Charlie Pellet, blue Bird day break. 0:07:00.839 --> 0:07:03.120 All right, Charlie, thank you well. In corporate news, Discovery 0:07:03.160 --> 0:07:06.080 paid CEO of David Zaslov more than two hundred forty 0:07:06.160 --> 0:07:08.160 six million dollars last year, and making him one of 0:07:08.200 --> 0:07:10.680 the highest paid executives in the US. More than two 0:07:10.720 --> 0:07:13.520 hundred million of that came in stock options. And Zaslav 0:07:13.600 --> 0:07:16.360 is about to close one of the media industry's biggest mergers. 0:07:16.880 --> 0:07:24.440 And this is Bloomberg thanks Karen. Five those seven on 0:07:24.680 --> 0:07:27.160 Wall Street and let's bring in Michael Barton now with more. 0:07:27.480 --> 0:07:30.280 What else is going on in New York and around 0:07:30.360 --> 0:07:32.640 the world, John, Thank you, Sarah. The mayors of New 0:07:32.760 --> 0:07:35.400 York City and Washington, d C. Are asking for the 0:07:35.440 --> 0:07:38.080 public's help in the search for a gunman who has 0:07:38.120 --> 0:07:41.240 been stalking homeless men, killing at least two people and 0:07:41.280 --> 0:07:44.320 wounding three others in less than two weeks. Police and 0:07:44.400 --> 0:07:47.679 the two cities released multiple surveillance photos, including a close 0:07:47.760 --> 0:07:51.640 up snap shot clearly showing the man's face. New York 0:07:51.680 --> 0:07:57.040 City Mayor Eric Adams Washington, d C is not manufacturing guns. 0:07:57.920 --> 0:08:02.040 New York City is not a gun manufacturment city, but 0:08:02.160 --> 0:08:07.160 the guns streets. Washington d C. Mayor Muriel Bowser agrees 0:08:07.240 --> 0:08:11.160 with Mayor Eric Adams. As we work to locate the subject, 0:08:11.240 --> 0:08:14.840 we're calling on all of our residents who are unsheltered, 0:08:14.960 --> 0:08:18.320 both in d C and New York City to seek shelter. 0:08:19.040 --> 0:08:21.640 Mayor Bowser says, in each case, the homeless men were 0:08:21.720 --> 0:08:25.120 shot as they slept in the street. Legislation aimed at 0:08:25.160 --> 0:08:28.720 benning abortions in Idaho after six weeks of pregnancy is 0:08:28.840 --> 0:08:31.640 heading to the governor. The state house approved the law 0:08:31.760 --> 0:08:35.120 that allows family members to see a doctor who performs 0:08:35.200 --> 0:08:39.239 one The legislation is modeled after the Texas law. Opponents 0:08:39.280 --> 0:08:43.400 of the Idaho legislation say it's unconstitutional. China saw more 0:08:43.480 --> 0:08:46.360 than five thousand new COVID nineteen infections for the first 0:08:46.400 --> 0:08:50.000 time since the early days of the pandemic. Outbreaks of 0:08:50.080 --> 0:08:53.760 the omicron variant prompted officials to lock down more cities 0:08:53.800 --> 0:08:57.800 and impose restrictions. Supporters for detained w n B A 0:08:57.920 --> 0:09:01.240 star Britney Grinder, called for her he's from prison in Russia. 0:09:01.640 --> 0:09:05.200 Grander was arrested after customs officials said they found vape 0:09:05.240 --> 0:09:09.040 cartridges containing cannabis soil in her luggage. At a news 0:09:09.120 --> 0:09:13.320 conference in Los Angeles, Project Islamic Hope director Naji Ali 0:09:13.880 --> 0:09:16.679 called on the Biden administration to negotiate the release of 0:09:16.720 --> 0:09:21.120 all Americans detained in Russia. It's very troubling for Britty Browner, 0:09:21.679 --> 0:09:26.400 not its only female is a member of the HQ 0:09:26.559 --> 0:09:33.079 community who Russia. Alan, noting former President Trump's relationship with 0:09:33.200 --> 0:09:35.880 Vladimir Putin, says if it takes reaching out to Trump 0:09:35.960 --> 0:09:39.400 to get Americans home, then so be it. Global News 0:09:39.480 --> 0:09:42.240 twenty four hours a day on air and on Bloomberg 0:09:42.320 --> 0:09:46.240 Quick Take, powered by more than twenty seven hundred journalists 0:09:46.280 --> 0:09:48.840 and analysts more than a hundred twenty countries. Michael Barr, 0:09:48.880 --> 0:09:55.120 this is Bloomberg, John, Michael, thank you, and it is 0:09:55.160 --> 0:09:57.320 coming up on five. Tim Up Wall Street time down 0:09:57.360 --> 0:10:00.560 for the Bloomberg Sports Update. Here's John Seshall. Thanks John. 0:10:00.640 --> 0:10:04.960 NFL free agency underway. Jets and Giants obviously need better players. 0:10:05.080 --> 0:10:07.640 Both have deals to help their offensive lines. Giants are 0:10:07.640 --> 0:10:11.679 adding Mark Glowinski, starting guard the last three seasons in Indianapolis. 0:10:11.720 --> 0:10:14.800 Another guard Lake and Tomlinson comes to the Jets from 0:10:14.880 --> 0:10:17.559 the forty Niners. Jets also adding tight end c j 0:10:17.720 --> 0:10:20.120 a Zumo, who just helped Cincinnati get to the Super Bowl, 0:10:20.400 --> 0:10:22.360 and the Jets are resigning white Out and All Pro 0:10:22.480 --> 0:10:26.040 kick returner Braxton Imparios. Looks like Mitchell Trabiski will be 0:10:26.120 --> 0:10:29.040 the replacement de Ben Roethlisberger as the starting QB in Pittsburgh. 0:10:29.080 --> 0:10:31.680 We'll see what happens with Deshaun Watson. NFL teams now 0:10:31.840 --> 0:10:35.240 interested in acquiring him from Houston. Another the grand jury 0:10:35.320 --> 0:10:39.000 declined to press sexual assault charges. Watson still faces twenty 0:10:39.080 --> 0:10:42.439 two civil lawsuits and he will be deposed today. The 0:10:42.559 --> 0:10:46.520 new Yankees infielder Josh Donaldson and Isaiah Kyner Filepa. The 0:10:46.600 --> 0:10:49.400 young caccher Ben Rourke Felt joined the team in Tampa 0:10:49.440 --> 0:10:52.079 after the trade with Minnesota. Yankee g M. Bryan Cashman's 0:10:52.120 --> 0:10:54.319 folk with the Yes Network excited because we feel it 0:10:54.400 --> 0:10:58.000 up crazed us at third short improves a you know, 0:10:58.120 --> 0:11:00.839 the player that we had in labor at second um. 0:11:01.559 --> 0:11:03.120 You know, we have a lot of versatility from it. 0:11:03.160 --> 0:11:06.400 So I think it's settled on a lot of business needs. Wise, 0:11:06.600 --> 0:11:09.360 import st Lucy Metz, Lugger Pete Alonso will be in 0:11:09.480 --> 0:11:12.520 full drills today. Sunday night, as Alonso began to drive 0:11:12.600 --> 0:11:14.560 across the state from his home in Tampa, he got 0:11:14.640 --> 0:11:17.600 hit by a car that ran a red light. Alonso's 0:11:17.640 --> 0:11:21.319 car flipped over three times. Fortunately he's okay. NBA and 0:11:21.360 --> 0:11:23.160 the loss of the Lakers in l A. They chilled 0:11:23.200 --> 0:11:26.559 Toronto by twenty one in the first quarter. Never has 0:11:26.679 --> 0:11:29.559 Lebron James been on a team this bad. Lakers have 0:11:29.640 --> 0:11:33.320 lost twenty of their last twenty. Johns Dashwar Bloomberg Sports 0:11:33.400 --> 0:11:35.719 John all Right, John, thanks a lot and ahead of 0:11:35.720 --> 0:11:38.040 the can show up on the on Wall Street. Futures 0:11:38.200 --> 0:11:40.200 in the kid A lower open, the DOWN futures right 0:11:40.240 --> 0:11:43.679 now down two hundred and forty eight points, that's down 0:11:43.679 --> 0:11:46.960 about three quarters of SMP five hundred futures right now 0:11:47.120 --> 0:11:50.160 thirty two points lower, and the nine stent futures down 0:11:50.720 --> 0:11:54.040 ninety three points, down seven tenths of a percent, and 0:11:54.240 --> 0:11:57.400 the selling in Europe continues. The stock six hundred now 0:11:57.520 --> 0:12:01.920 down two point one one per sand. You're listening the 0:12:02.000 --> 0:12:08.080 Bloomberg day Break, a Bloomberg weather for from Rob Carolin Partler. 0:12:08.240 --> 0:12:12.240 Mostly sunny today, the high temperature topping out at six tomorrow, 0:12:12.640 --> 0:12:17.000 Mostly sunny and warm behind about sixty five degrees. This 0:12:17.440 --> 0:12:25.120 is Bloomberg Markets headlines and breaking news twenty four hours 0:12:25.160 --> 0:12:28.160 a day at Bloomberg dot com, the Bloomberg Business Out 0:12:28.280 --> 0:12:38.400 and at Bloomberg Victape is a Bloomberg Business lash and 0:12:38.480 --> 0:12:42.040 I'm Karen Moscow. European stocks are falling as a relentless 0:12:42.080 --> 0:12:45.400 sell off in shiny shares buffeted global markets, adding to 0:12:45.440 --> 0:12:49.040 concerns about the war in Ukraine and imminent federal reserve tightening. 0:12:49.200 --> 0:12:52.720 US stock index futures are also lower. Crude oil extending 0:12:52.760 --> 0:12:55.680 its retreat. We checked the markets every fifteen minutes throughout 0:12:55.720 --> 0:12:58.319 the trading day on Bloomberg Guess and p Future is 0:12:58.360 --> 0:13:01.040 down thirty one points down, Future down two hundred thirty 0:13:01.080 --> 0:13:03.880 three and NASDAG features down in ninety The decks in 0:13:03.960 --> 0:13:07.200 Germany's down two point three percent. Ten. Your treasury up 0:13:07.280 --> 0:13:09.960 nine thirty seconds yield two point o nine percent. They 0:13:10.040 --> 0:13:13.199 yield on the two year one point eight one percent. Nine. 0:13:13.280 --> 0:13:17.000 Excrete oil is down five point three percent on five 0:13:17.120 --> 0:13:20.160 dollars forty seven cents at ninety seven dollars fifty five 0:13:20.200 --> 0:13:22.760 cents of barrel Comics gold is down one point three 0:13:22.800 --> 0:13:25.280 percent or twenty five dollars forty cents at nineteen thirty 0:13:25.320 --> 0:13:28.360 five forty announce The Euro one point oh nine and 0:13:28.480 --> 0:13:30.800 nine eight against the dollar, British pound one point three 0:13:30.920 --> 0:13:34.280 zero two three, the ends at one seventeen point nine 0:13:34.559 --> 0:13:37.920 two and checking Bitcoin this morning, it's lower down six 0:13:38.000 --> 0:13:40.440 tents of a percent at thirty eight thousand, four hundred 0:13:40.480 --> 0:13:42.880 eighty dollars. And today we are looking for the Producer 0:13:42.960 --> 0:13:45.440 Price Index is at eight thirty Wall Street time, along 0:13:45.480 --> 0:13:48.840 with Empire Manufacturing. That's a Bloomberg business flash now Here's 0:13:48.880 --> 0:13:51.679 Michael Barr with more on what's going on around the world. Michael, 0:13:51.720 --> 0:13:54.880 good morning, Good morning here in Russia's offensive in Ukraine 0:13:54.920 --> 0:13:58.160 has adds closer to central Kiev with a series of 0:13:58.240 --> 0:14:01.680 strikes hitting a residential neighborhood. It comes as the leaders 0:14:01.800 --> 0:14:05.640 of three NATO member countries, Poland, the Czech Republic in 0:14:05.720 --> 0:14:10.280 Slovakia planned to visit Ukraine's embattled capital. Meanwhile, a narrow 0:14:10.320 --> 0:14:13.679 diplomatic path is open as Ukraine and Russia planned another 0:14:13.760 --> 0:14:16.800 round of talks for today. The NBA has fine the 0:14:16.880 --> 0:14:20.240 Net's fifty thou dollars for letting Kyrie Irving into their 0:14:20.280 --> 0:14:23.320 locker room during a game in which he was unable 0:14:23.360 --> 0:14:26.640 to play it because he is not vaccinated against COVID nineteen. 0:14:27.160 --> 0:14:31.600 The Warriors beat the Wizards. Global News twenty four hours 0:14:31.680 --> 0:14:34.920 a day on air and on Bloomberg Quicktake, powered by 0:14:35.040 --> 0:14:37.960 more than twenty seven hundred journalists and analysts in more 0:14:38.000 --> 0:14:40.680 than twenty countries. I'm Michael bar This is Bloomberg. John 0:14:40.720 --> 0:14:43.160 all right, Michael, thank you. I find twenty on Wall Street. 0:14:43.560 --> 0:14:46.120 China seeking to avoid taking a hit from US led 0:14:46.200 --> 0:14:50.000 sanctions against Russia. Let's get this morning's update on the 0:14:50.160 --> 0:14:53.480 war on Ukraine now from Mark Champion, Bloomberg, Senior reporter 0:14:53.640 --> 0:14:57.120 for International Affairs. Mark, let's start there is is there 0:14:57.120 --> 0:15:01.040 an indication China is helping its ally Russia. Well, we 0:15:01.120 --> 0:15:03.960 don't know yet, but the US seems convinced that that 0:15:04.160 --> 0:15:08.640 China has made the decision already to help financially UH 0:15:08.800 --> 0:15:14.320 and then has been requested by Russia to provide weapons 0:15:14.400 --> 0:15:17.080 of the kinds that the Russians are running out of. 0:15:17.320 --> 0:15:19.560 And you know quite from the high end of drones 0:15:19.720 --> 0:15:25.040 right down to UH to ration supplies. UM. So, whether 0:15:25.160 --> 0:15:29.160 the Chinese say that this is misinformation um and you 0:15:29.240 --> 0:15:33.960 know clearly there's a big hit that they are you know, 0:15:34.240 --> 0:15:36.800 going to take if they go forward with it. Um. 0:15:37.040 --> 0:15:40.520 And it is a big moment actually in a decision 0:15:40.600 --> 0:15:43.920 on the Chinese side of whether or not to back 0:15:44.000 --> 0:15:46.120 Russia and on the U s side whether or not 0:15:46.280 --> 0:15:48.960 to UH to really go off to China in terms 0:15:49.000 --> 0:15:51.600 of sanctions. What if anything came out of those talks 0:15:51.640 --> 0:15:53.760 that took place in Rome yesterday. I know they were 0:15:53.800 --> 0:15:57.360 scheduled to take place before Russia's invasion, but the US 0:15:57.400 --> 0:16:04.280 and Russian officials meeting at Rome, what happened there, well exactly, 0:16:04.600 --> 0:16:09.000 we don't know a lot of detail, but they went 0:16:09.040 --> 0:16:11.760 on for seven hours and each side came out, you know, 0:16:12.320 --> 0:16:15.160 not not kicking and screaming. They seemed to think that 0:16:15.240 --> 0:16:19.960 they had been substantive. The main purpose wasn't really to negotiate, 0:16:20.120 --> 0:16:24.080 It was simply to lay out the concerns in particular 0:16:24.160 --> 0:16:27.000 on the US side, uh and and trying to make 0:16:27.080 --> 0:16:29.040 the argument for why this would be a bad move 0:16:29.120 --> 0:16:32.240 for China. China, no doubt, was pushing back about why 0:16:32.320 --> 0:16:35.160 they think that, you know, for the US to sanction 0:16:35.560 --> 0:16:40.480 China would be unwise, and at the Chinese routinely described 0:16:40.560 --> 0:16:44.400 that kind of third party sanctions as illegal. Yeah, we're 0:16:44.440 --> 0:16:46.880 getting worth this more in the Polish prime minister his 0:16:47.080 --> 0:16:50.160 check and the Slovenian counterparts. They're going to make a 0:16:50.280 --> 0:16:55.000 trip to the capital of Ukraine today by train. Do 0:16:55.080 --> 0:16:58.240 we know any more about that? We don't know a 0:16:58.280 --> 0:17:01.320 great deal. This is something that you know has was done. 0:17:01.440 --> 0:17:03.360 It was for example, around the war in Georgia in 0:17:03.440 --> 0:17:06.679 two thousand and eight, when leaders went down there as 0:17:06.720 --> 0:17:09.960 well from Eastern Europe just to to show solidarity, to 0:17:10.080 --> 0:17:13.960 show uh, you know that their support um so politically, 0:17:14.040 --> 0:17:16.840 it will be you know, an important moment actually for 0:17:16.960 --> 0:17:20.480 the Ukrainians who, despite all the aid and words of support, 0:17:21.040 --> 0:17:23.959 do you feel like they're fighting this war alone? So, uh, 0:17:24.119 --> 0:17:27.000 you know, it will be you know, in terms of 0:17:27.040 --> 0:17:29.840 a gesture, as a political gesture, it will be important, obviously, 0:17:30.240 --> 0:17:32.760 less so in terms of the war on the ground. 0:17:33.480 --> 0:17:37.199 Is putin. Do you suppose hoping that Europe's resolved may 0:17:37.359 --> 0:17:41.159 falter at some point as the flood of refugees continues. 0:17:42.920 --> 0:17:45.560 I'm sure he does. Um, you know, we don't. We 0:17:45.600 --> 0:17:48.520 don't have a lot of you know, insight into the 0:17:48.600 --> 0:17:52.639 thinking of putting right at the moment. Most assessments of 0:17:53.000 --> 0:17:55.440 you know, people who spend their careers watching him and 0:17:55.480 --> 0:17:59.480 trying to understand what he does, we're wrong. You know. 0:17:59.560 --> 0:18:02.000 Ahead of a war, the people who knew him best, 0:18:03.000 --> 0:18:06.000 thought they understood him best, were most likely to think 0:18:06.040 --> 0:18:08.879 that he wasn't going to invade. He did. Um, So, 0:18:09.280 --> 0:18:12.840 he clearly was surprised by the level of He prepared 0:18:12.920 --> 0:18:16.640 for sanctions, but he clearly was surprised by the level 0:18:16.720 --> 0:18:19.160 of sanctions and the level of unity and the response 0:18:19.200 --> 0:18:22.560 that's come from Europe. I would think that he you know, 0:18:22.720 --> 0:18:26.440 he he does hope that the you know, the refugees 0:18:26.480 --> 0:18:30.040 will will force a change over time. Um. But that's 0:18:30.160 --> 0:18:32.200 very hard to to have any kind of clarity on 0:18:32.640 --> 0:18:35.240 what's the next thing you're looking out for in all 0:18:35.320 --> 0:18:39.119 those Well, it's really you know that the the number 0:18:39.200 --> 0:18:43.359 one thing is what happens on the ground. In terms 0:18:43.440 --> 0:18:46.520 of the conflict. It seems to be rather stalled at 0:18:46.520 --> 0:18:48.280 the moment from the Russian point of view. And the 0:18:48.960 --> 0:18:53.399 big question is whether they're simply regrouping after having um 0:18:54.400 --> 0:18:56.800 messed up their initial strategy, they're having to kind of 0:18:56.920 --> 0:19:01.320 completely reconfigure on the ground, um and they're simply regrouping, 0:19:01.480 --> 0:19:04.520 and we'll have the capacity to then push forward and 0:19:04.800 --> 0:19:07.880 try and achieve the goals that they had, or if 0:19:07.920 --> 0:19:10.040 they really have run out of steam and they simply 0:19:10.119 --> 0:19:13.000 failed um and and we we just don't know that 0:19:13.200 --> 0:19:15.800 at the moment. There are lots of you know, indications 0:19:15.840 --> 0:19:19.920 in both directions, but it's that really needs to get 0:19:19.960 --> 0:19:23.520 resolved before you're likely to see any breakthrough in talks. 0:19:24.359 --> 0:19:27.840 And always a pleasure Bloomberg, Senior reporter for International Affairs, 0:19:28.000 --> 0:19:31.040 March Champion with this this morning ahead of the Cash 0:19:31.119 --> 0:19:34.000 Open on Wall Street we're seeing to sell off continue 0:19:34.119 --> 0:19:37.359 with the US futures down futures right now two hundred 0:19:37.440 --> 0:19:40.359 points lower, that's down six tenths of a percent. SMP 0:19:40.520 --> 0:19:44.080 evening futures are down twenty five points and the nasday 0:19:44.200 --> 0:19:48.280 futures sixty three points lower. In London, the foot see 0:19:48.320 --> 0:19:51.520 one hundred down one point six percent, and the europe 0:19:51.560 --> 0:19:56.439 stock six hundred down just over two percent. You're listening 0:19:56.840 --> 0:20:07.639 to Bloomberg day Break just ahead. Where of all the 0:20:07.760 --> 0:20:10.600 dip buyers. God look with that question if Joe Quinland 0:20:10.680 --> 0:20:14.560 had a chief investment office market strategy and Merrill Lynch 0:20:14.920 --> 0:20:18.640 Bank of America private fame. This is Bloomberg day Break, 0:20:22.119 --> 0:20:26.600 broadcasting live from the Bloomberg Interactive Broker's studio in New York, 0:20:26.760 --> 0:20:31.399 Bloomberg Living Freedom to Washington, d C, Bloomberg to Boston, 0:20:31.560 --> 0:20:35.359 Bloomberg one O six one to San Francisco, Bloomberg sixty 0:20:35.480 --> 0:20:38.679 to the Country, Sirius XM to one nine, and around 0:20:38.720 --> 0:20:42.240 the globe the Bloomberg Business app and Bloomberg Radio dot Com. 0:20:42.720 --> 0:20:51.080 This is Bloomberg day Break, and it's five thirty on 0:20:51.200 --> 0:20:54.359 Wall Street. Good Morning. I'm John Tucker and I'm Karen Moscow. 0:20:54.480 --> 0:20:56.600 We're just about four hours away from the open of 0:20:56.720 --> 0:20:58.320 US trading. Let's get you up to date on the 0:20:58.359 --> 0:21:00.440 news you need to know at this hour. Shelling in 0:21:00.560 --> 0:21:04.639 Ukraine's capital, Keith continued overnight as Russia carries on with 0:21:04.760 --> 0:21:08.800 its invasion. It's pleading for help from its most powerful allied, China, 0:21:09.160 --> 0:21:11.879 but White House Spress Secretary Jen Saki warrants that there 0:21:11.920 --> 0:21:16.040 would be significant consequences for Beijing if it provides assistance 0:21:16.080 --> 0:21:21.520 to Moscow. They only make up or of the world's economy. 0:21:21.840 --> 0:21:24.399 The G seven countries make up more than fifty percent, 0:21:24.760 --> 0:21:26.600 so there are a range of tools at our disposal. 0:21:26.800 --> 0:21:29.639 Jen Saki was speaking after officials from China in the 0:21:29.760 --> 0:21:32.360 U s meta in Rome for their first high level 0:21:32.440 --> 0:21:37.200 talk since the invasion began. The bind administration calls talks constructive, 0:21:37.240 --> 0:21:41.080 but former US Defense Secretary Mark Ansbury tells Boomberg sound 0:21:41.200 --> 0:21:44.760 on China won't side with the West in this conflict. 0:21:45.119 --> 0:21:47.720 There is a strategic partnership that has emerged over the 0:21:47.840 --> 0:21:52.320 years between Moscow and Beijing. Uh This invasion of Ukraine 0:21:52.359 --> 0:21:57.399 by Russia, however, has placed China somewhat of an uncomfortable position. 0:21:57.640 --> 0:22:00.680 Mark Ansberg believes it's unlikely ranch it would cross it 0:22:00.720 --> 0:22:04.600 into a NATO country. President Biden reportedly considering a trip 0:22:04.680 --> 0:22:07.920 to Europe to rally support for NATO allies. Well, John, 0:22:07.920 --> 0:22:09.840 the war in Ukraine will have a big impact on 0:22:09.880 --> 0:22:12.320 the economies of all fifties states here in the US, 0:22:12.400 --> 0:22:14.760 and we get the latest life from Bloombergy's Ready to Young, 0:22:14.800 --> 0:22:17.440 Good Morning, Ready to Good Morning, Karen. Although the US 0:22:17.520 --> 0:22:21.119 has limited trade ties with Russia and Ukraine, businesses from 0:22:21.200 --> 0:22:25.560 beer breweries and Missouri to semiconductor plants in California would 0:22:25.640 --> 0:22:29.920 see an impact. That's according to an analysis by Moody's Analytics. 0:22:30.400 --> 0:22:33.600 Energy producing states like Alaska and North Dakota would do 0:22:33.760 --> 0:22:37.240 better than others since the conflict is boosting oil prices, 0:22:37.560 --> 0:22:40.640 but the two states most dependent on cars and driving, 0:22:40.720 --> 0:22:45.720 Alabama and Mississippi, would likely suffer disproportionately from an energy shock. 0:22:46.400 --> 0:22:49.080 Live in New York, I'm Nita Young, Bloomberg Day Brain Right, 0:22:49.119 --> 0:22:53.119 thanks for US feature. Stocks overseas they're falling. Hong Kong's 0:22:53.160 --> 0:22:56.080 Hang Sang Index felt almost six percent of the Europe 0:22:56.119 --> 0:22:59.000 six hundred index, down more than two percent the NASA 0:22:59.160 --> 0:23:02.879 one hundred. Entering the day in Bear Market territory. Well 0:23:02.920 --> 0:23:05.560 back in Washington, John, another Joe mansion roadblock for the 0:23:05.600 --> 0:23:09.480 Biden administration. The West Virginia Senator will oppose Biden's nomination 0:23:09.520 --> 0:23:11.800 of Sarah Bloom mo Reskin as the Federal Reserves of 0:23:11.840 --> 0:23:14.639 Vice Chair of supervision of both that's likely needed to 0:23:14.720 --> 0:23:17.119 confirm her. It comes as the Fed begins it's two 0:23:17.200 --> 0:23:20.560 day meeting where it's expected to raise interest rates again. 0:23:20.640 --> 0:23:24.120 Futures are lower s ANDP futures down about sixteen points down. 0:23:24.160 --> 0:23:27.920 Futures down on thirty four and NASDAC futures down about 0:23:27.960 --> 0:23:31.040