World
2020.03.13 05:02 GMT+8

COVID-19: Trump instates travel limits from Europe, markets remain volatile

Updated 2020.03.13 05:02 GMT+8
CGTN

The impact of the COVID-19 outbreak continues to rock the global economy, as the Trump administration tries to calm markets and push for an economic relief plan. 

In a prime time address to the nation on Wednesday, U.S. President Donald Trump announced restrictions on passengers traveling from 26 European countries into the U.S., the Associated Press reports. 

Though playing down the threat of the coronavirus in the past, Trump blamed Europe for not responding quickly to the outbreak and claimed that U.S. clusters of the virus were seeded by European travelers. 

"We made a lifesaving move with early action on China," Trump said. "Now we must take the same action with Europe." 

This did little to settle the U.S. stock markets, as the Dow Jones Industrial Average took another major tumble for much of the day, losing over 2,000 points on Thursday despite the Federal Reserve's move to prop up markets amid the outbreak. The U.S. losses also hit European markets which dropped 12%. 

Washington, D.C. will also be a little quieter during the outbreak, with news that Congress will be closing the Capitol to the public until April. 

On Wednesday, during a House Oversight Committee on the coronavirus outbreak, lawmakers asked if it was possible that flu patients had been misdiagnosed and actually had the coronavirus,  the head of the Centers for Disease Control and Prevention, Dr. Robert Redfield confirmed that there had been some diagnosis made posthumously. 

The coronavirus outbreak has also impacted sports leagues across the U.S. as games are suspended indefinitely. 

Finally, Broadway theaters will also be shut down until April 12 on order from New York Governor Andrew Cuomo. This follows the governor's announcement that no gatherings of more than 500 will be allowed.

Copyright © 

RELATED STORIES