Coronavirus Update: Stock Markets Plunge, NY Bans Gatherings Of 500+, Curfew For Bars, Broadway Closed, Disneyland Shutdown
The coronavirus outbreak continues, and the concerns over the possible ramifications from the COVID-19 pandemic are evident in every aspect of life. The current coronavirus update puts the number of infected at 134,360 and the death toll is at 4,970.
New York state is implementing some drastic measures to combat the coronavirus. On Thursday, New York Governor Andrew Cuomo called the coronavirus outbreak a “public health emergency” and banned public gatherings of 500 people or more. These new measures will go into effect at 5 p.m. on Friday, and will include sports, comedy, and entertainment events. There will be “a range of penalties” for businesses that aren’t adhering to the ban, including fines and shutdowns.
Gov. Cuomo said the ban will be instituted “for the foreseeable future until things change.” He added that New York state will get back to normal “as soon as we can.” Cuomo also warned that “this is only going to get much worse before it gets better.”
Broadway theaters will also go dark starting on Thursday, and the shows will return on April 13 if the coronavirus outbreak improves.
The public ban will not apply to schools, nursing homes, hospitals, and mass transit.
State of Emergency declared in New York City.
Disneyland announced that it is temporarily shutting down because of the coronavirus pandemic. On Thursday afternoon, the Walt Disney Co. announced that the California theme park will be closed starting on March 14.
“While there have been no reported cases of COVID-19 at Disneyland Resort, after carefully reviewing the guidelines of the Governor of California’s executive order and in the best interest of our guests and employees, we are proceeding with the closure of Disneyland Park and Disney California Adventure, beginning the morning of March 14 through the end of the month,” Disney said in a statement. “The Hotels of Disneyland Resort will remain open until Monday, March 16 to give guests the ability to make necessary travel arrangements; Downtown Disney will remain open. We will monitor the ongoing situation and follow the advice and guidance of federal and state officials and health agencies. Disney will continue to pay cast members during this time.”
This is only the fourth time Disneyland has closed, the others are the terror attacks of 9/11, the 6.7-magnitude Northridge Earthquake in 1994, and the national day of mourning after the JFK assassination.
Here is a list of all of the sporting events that have been canceled because of the COVID-19 pandemic.
U.S. stocks suffered their worst day since the 1987 Black Monday stock market crash after coronavirus panic rattled investors. The Dow Jones Industrial Average (DJIA) fell 2,352 points, or 9.99%, the largest one-day drop since 1987. The S&P 500 and the Nasdaq were also down more than 9%.
The situation got so bloody on the trading floor that market-wide circuit breakers were tripped, the second time this week that this 15-minute precautionary measure has happened. The index is now 25% below its all-time high and on a crash course for a bear market.
Traders were concerned with all of the cancelations, travel distress, and President Donald Trump banning non-U.S. citizens who have recently been in many European nations from entering the United States for a month.
The Federal Reserve attempted to calm the nerves of Wall Street by announcing that they would pump $1.5 trillion into financial markets over the next two days. But it made no difference in Thursday’s trading.
Princess Cruises suspends all operations, and Viking Cruises cancels all cruises because of the coronavirus.
Viking Cruises announced it is canceling all cruises through April 30. They are the first major cruise line to cancel their voyages.
“I am writing today because the situation has now become such that operating as a travel company involves significant risks of quarantines or medical detentions, which could diminish the travel experiences for which our guests have been planning,” said Viking chairman Torstein Hagen. “As a private company with strong finances, we do not have to worry about quarterly profit expectations – and that flexibility allows us the ability to do what is best for our guests and our employees, as we have always done.”
Princess Cruises announced that it is suspending its global operations for 60 days. Princess Cruise, which operates 18 cruise ships, will cancel cruises departing March 12 to May 10.
“It is our intention to reassure our loyal guests, team members and global stakeholders of our commitment to the health, safety and well-being of all who sail with us, as well as those who do business with us, and the countries and communities we visit around the world,” said Jan Swartz president of Princess Cruises.
Princess has already experienced coronavirus outbreaks on two of their cruise ships. The Diamond Princess that docked in Japan last month had two people die on the cruise, and more than 700 passengers tested positive for the respiratory disease.
Catholic churches across Rome will close because of COVID-19 fears. There are over 15,000 confirmed cases in Italy, as well as over 1,000 deaths.
The U.S. Capitol complex will be closed until April 1, and the White House will stop all tours until further notice.
Brazil’s press minister Fabio Wajngarten has tested positive for the coronavirus. Wajngarten and Brazilian President Jair Bolsonaro visited Mar-a-Lago last weekend, and Fabio stood next to President Trump while posing for photos.
Republican Senator Lindsey Graham of South Carolina said he is self-quarantining after he was also in Mar-a-Lago with the infected Brazilian aide. He is the third congressman to self-quarantine because of concern that they might have the coronavirus.
Here are the areas where the coronavirus thrives.
The World Health Organization (WHO) has announced that dogs cannot contract Covid-19.