America’s Economy Begins to Shut Down as Pandemic Measures Take Hold. Dow Drops 2997 pts.
Markets plunge, with the Dow sinking to its worst day since 1987
The Dow was down nearly 13 percent and the Nasdaq fell more than 12 percent one day after the Fed slashed interest rates to shore up the financial system.
The fast-spreading virus has put an end to movies, date nights and other economic activity, prompting some economists to call it a U.S. recession.
Trump Urges Limits Amid Pandemic, but Stops Short of National Mandates.
President Trump issued national guidelines that included closing schools and avoiding bars, restaurants and groups of more than 10 as he prepared for months of upheaval.
- The measures recommended by President Trump, including avoiding gatherings of over 10 people, reflect the increasing gravity of global containment attempts.
- The European Union chief wants to seal the bloc off from almost all international travel. Italy pledged more than $28 billion for relief efforts.
- The Kentucky Derby was postponed for the first time since World War II.
San Francisco & Bay Area millions told to 'shelter in place' to stop spread of coronavirus. Drastic move, first of its kind in the US, comes following a 14% increase in cases in the state.
