Airlines in talks with government for multibillion-dollar bailout

Despite a rare action by the Federal Reserve, the financial markets fell and trading was halted 30 seconds after the opening bell.
1:14 | 03/16/20

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Transcript for Airlines in talks with government for multibillion-dollar bailout
Economic won despite major new action by the Fed on Sunday very rare move. This morning the market drop with steep trading halted just thirty seconds in. The Dow closing down nearly 3000 points 13% the worst day since the black Monday market crash in 1987. So again tonight ABC's chief business and economics correspondent Rebecca Jarvis like downtown tonight a Rebecca this was alarming especially. A given the Fed's very rare move on a Sunday at the market still dropped and quickly this morning. Cutting interest rates David to 0% but it wasn't enough. Look just as the country is trying to wrap its head around this new reality so too is Wall Street trying to contend. With the new math of the current day grinding the country to a screeching halt comes with a giant price tag by some estimates as much as 120. Billion dollars this month alone and we've already heard at that uncertainty. From America's thirty million small businesses. And just today the US airline industry which employs 750000. Americans. Saying that with out a fifty billion dollar bailout David. They are likely to run out of money by the end of this year David courts so much to watch on the markets as well and Rebecca you continue to do that for us thank you.

This transcript has been automatically generated and may not be 100% accurate.

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