NEWS SUMMARY-INTELLIGENCE REPORT MONDAY 3/9/2020

(LIMITED SERVICE THROUGH LATE MONDAY)

The Dow Jones Industrial Average plunges almost 8 percent amidst concern over the oil market and coronavirus but first.....

Italy's Prime Minister extending the lockdown of northern Italy to now include the entire country saying:

"The whole country will become a protected zone"

Giuseppe Conte saying there is "no more time" and that everyone in the country should stay home adding that:

"We all must give up something up for the good of Italy.  We have to do it now"

The death toll from the coronavirus now 463 in Italy and that would be the equivalent of 10,834 deaths in China and China has only sustained 3,136 deaths from the virus as of Tuesday morning.

The total number of cases in Italy now 9,172 or the equivalent of 214,625 cases in China and China's total case number is 80,754.

Prison rioting in Italy after visits to prisoners were suspended with seven dead and other prisoners escaping.

BBC NEWS STORY ITALY CORONAVIRUS

Two US military members killed in Iraq by "enemy" forces  on Sunday.    They were on a mission helping the Iraqi military in fighting the Islamic State.  The Pentagon issuing a statement today.....ASSOCIATED PRESS NEWS STORY

"We talked about our principles and agree to cooperate in forming a government in order to remove Israel from the mud it is in and prevent a fourth election"

In Israel leading opposition politician Benny Gantz of the Blue and White Party characterizing his meeting  with the Yisrael Beitienu Party leader Avigdor Lieberman today.  Gantz making a bid to form a government following the third election in less than a year that saw the political deadlock continue in the country........JERUSALEM POST STORY

Tomorrow Gantz will meet Arab List representatives in his quest to find a government that will be an alternative to Prime Minister Benjamin Netanyahu.

The coronavirus story with the World Health Organization saying the threat of a pandemic has become real.

On Sunday the number of confirmed coronavirus (Covid-19) cases in the US rose to 537 by Sunday afternoon.   21 have died in the US from it.  

As of tonight at 1130 pm Eastern there are more than 700 confirmed cases of Covid-19 in the US and 26 deaths......LIVE SCIENCE CORONAVIRUS UPDATE USA

Some 114 cases confirmed Sunday in California.  Covid-19 testing picking up in California this week with a private testing lab able to process 2-thousand tests a day coming into operation.

The Indian Wells Masters tennis tournament (BNP Paribas Open) was called off Sunday before its scheduled start today.   The move follows a confirmed case of coronavirus in the area where the tournament is held in Riverside County, California.

In Germany there are now 1,112 cases of the coronavirus reported as of today.

France reporting 21 dead and 1,191 cases this evening but that number later updated to 25 dead and 1,412 cases.

Russia says that there are 20 cases of coronavirus on its territory....TASS NEWS STORY

The Netherlands now reporting 321 Covid-19 infections up from 264 on Sunday....REUTERS NEWS STORY

In Iran where there are now 237 deaths recorded and 7,161 cases identified authorities are furloughing some 70-thousand prisoners to prevent the spread of Covid-19....PRESS TV STORY IRAN

The coronavirus story is on the BBC News blog all day long.....BBC NEWS CORONAVIRUS BLOG

Fears about the oil markets and the coronavirus driving Wall Street down almost eight percent.  President Trump broaching the notion of a payroll tax cut following the worst day on Wall Street since the economic slowdown of 2008.

Market volatility around the world today punctuated by a decline in oil prices that reached nearly 30 percent at some points.  Stock markets in Asia and Europe have declined in some cases by 6 to 8 percent in value at some times during the day.   Oil stocks taking even larger losses.

The oil price drop following the breakdown in an agreement to limit oil production involving Russia and the OPEC countries Friday.

Russia said to be aiming perhaps with the assistance of Saudi Arabia to take down the US energy industry (oil fracking) by driving down prices in the market.    

Russia's Tass News Agency reporting that more oil is expected to be produced....TASS NEWS REPORT.....and Russia also putting out the word that its "National Wealth Fund" has assets to cover the next 10 years of Russian tax revenue shortfall from depressed oil prices......TASS NEWS REPORT

Reporting from Russia's Tass News Agency also that the dollar exchange rate against the ruble up 9.5 percent today......TASS NEWS STORY

A Chinese firm's takeover of British Steel is moving forward after months of moving through legal and regulatory processes.

The Jingye Group's takeover happening today.   British Steel went into a financial collapse last year and was taken over by the UK's "Insolvency Service".    Jingye has said it plans to save more than 3-thousand jobs.  British Steel employed some 5-thousand workers when it went under....BBC NEWS STORY

Twitter imposing a "manipulated media" label on a video released by the White House.   The video posted by the Director of Social Media Dan Scavino shows Joe Biden saying:  "We can only re-elect Donald Trump".     BBC News offers its version of the story.....LINK

That's the way it really is for Monday March 9th, 2020.