The coronavirus continues to spread economic chaos around the globe as the World Health Organization has dubbed the COVID-19 outbreak a “pandemic.” With that in mind, President Trump took to the airwaves last night describing a number of actions he’s put in place to manage the situation for Americans.
Among the steps he’s taken? Suspending all travel from Europe, except the United Kingdom, for 30 days – that starts tomorrow. He’s also urging anyone sick to stay home and promising financial relief for those infected or in quarantine.
Meantime, Trump is calling on Congress to provide tax relief, defer tax payments and help fund small business loans for firms affected. You can see a complete fact sheet from the White House HERE.
The sports world is also being affected – the NBA has announced it's suspending the regular season after Utah Jazz star Rudy Gobert tested positive for the coronavirus.
Elsewhere in the world, global stocks and oil prices are diving – and Wall Street is now considered to be in bear market territory. London's FTSE stock index is the lowest in nearly four-years and Asian markets are down from one and-a-half to more than seven-percent.
Where does the United States stand with COVID-19? At last check, there are currently just over one-thousand cases across the United States – with 38 patients succumbing to the illness (the majority being nursing home patients in Washington State). Globally, the numbers stand at just over 126-thousand (up from 119k yesterday) people infected by the virus – with just over four-thousand dead. On the plus side, nearly 68-thousand have recovered (two-thousand more than were reported yesterday).
Speaking of Washington State, which has the highest number of cases in the US – at 250 active cases – Governor Jay Inslee has now banned large events in the Seattle area for at least the next two weeks. All area schools are closed, too – and visits to nursing homes are banned. Inslee says he’s taking a wait-and-see approach with respect to potentially extending the ban and closings.
Source: White House