All travel from Europe, excluding the United Kingdom, is to be suspended from Friday.
President Donald Trump, in an address to the nation on Wednesday evening, called for “strong but necessary action" to prevent further spread of the virus to the U.S. The president announced the suspension of all travel from Europe for 30 days from Friday. Britain is not included in the travel ban, reported the New York Times.
Calling Covid-19 a “horrible infection,” the president promised an “unprecedented response to the coronavirus outbreak.” He added that announcements would be made regarding emergency action to provide financial relief for workers that are taken ill or need to be quarantined. He also indicated that Congress would be asked to extend relief to the employees but mentioned no details.
In his address from the Oval Office, President Trump said that he would instruct the Treasury Department to “defer tax payments without interest or penalties for certain businesses negatively impacted.”
Why It Matters
The spread of Covid-19 is escalating and has been declared a pandemic by the World Health Organization. There were 1,622 confirmed cases in the U.S. as of Wednesday.
Virus fears have gripped investors with the Dow Jones Industrial Average falling into bear territory after the index fell nearly 6% to close at 23,553. The S&P 500 lost 4.6% to close at 2,741.