SQUAWK BOX, MONDAY 23RD MARCH, 2020

Stocks stumble on a stimulus snag … U.S. futures drop, briefly hitting limit down, after major indices recorded their worst week since the 2008 financial crisis. Part of President Trump’s $2tn stimulus package doesn’t win approval in the Senate with Democrats criticising the bill for helping large corporates over average workers in the face of the Coronavirus outbreak. Oil prices near a 17-year low in a volatile session. In Germany, Chancellor Angela Merkel goes into quarantine and limits social gatherings to two people. Berlin is also set to approve a €500bn bailout fund, breaking its long-held ‘Black Zero’ debt policy. Italy has increased travel limitations to combat the spread of the virus after the death toll surged over the weekend. Prime Minister Giuseppe Conte has warned that the economic impact of the virus will be felt throughout the country. And in corporate news, Airbus has withdrawn its full-year guidance due to the economic volatility caused by the pandemic.