March 16, 2020 - PBS NewsHour full episode

Financial panic rocked world markets Monday. All three major U.S. stock indices were down over 10 percent, despite extraordinary action Sunday by the Federal Reserve to cut a key interest rate to zero. But the painful economic implications of the COVID-19 pandemic extend far beyond Wall Street. John Yang talks to David Wessel of the Brookings Institution about the need for fiscal stimulus.

In our news wrap Monday, Israeli opposition leader Benny Gantz was formally tapped to attempt to form a governing coalition, following the country’s third election within a year. Gantz promised he would do “whatever it takes” to end the political deadlock. Also, in Springfield, Missouri, a police officer was among five people killed in an overnight shooting at a gas station. The gunman also died.

Former Vice President Joe Biden and Vermont Sen. Bernie Sanders debated head-to-head for the first time Sunday night. Due to the coronavirus pandemic, there was no live audience at the event, and questions about President Trump’s handling of the disease outbreak -- and how the candidates would respond in his situation -- dominated the early conversation. Lisa Desjardins reports.

NPR’s Tamara Keith and Amy Walter of the Cook Political Report join Lisa Desjardins to discuss the latest political news, including how the 2020 Democratic presidential race has changed amid the coronavirus pandemic, the challenge for state election officials trying to hold primary contests and the stark American political divide over the outbreak and President Trump’s handling of it.

For years, Lebanon’s financial practices have been unsustainable and its economy lagging. The country has one of the highest levels of debt per capita in the world. Now the foundation of Lebanon’s financial house of cards is giving way -- right as the deadly threat of novel coronavirus approaches. Special correspondent Jane Ferguson reports from Beirut on a gathering perfect storm.

ARTFUL COPING

Governors across the U.S. are taking unprecedented steps to limit the spread of novel coronavirus in their states. Republican Gov. Larry Hogan of Maryland ordered all restaurants, bars, gyms and movie theaters to close Monday. He joins Judy Woodruff to discuss the other steps he is taking to address this “scary” situation, including increasing the state’s supply of critical medical resources.

Across the country, election officials are scrambling to decide how to adjust to the coronavirus pandemic. Louisiana and Georgia have postponed their primary contests, and candidates have eliminated public rallies entirely. But in Arizona, Tuesday’s primary is still on, and some 80 percent of voters were expected to mail in their ballots ahead of time. Stephanie Sy reports.