On Monday afternoon, the Trump administration said the public should avoid gatherings larger than 10 people for two weeks and cancel discretionary travel in bid to slow the outbreak of the novel coronavirus (COVID-19).
U.S. President Donald Trump stressed all Americans should work to engage from home, and avoid big gatherings, travel and eating at bars.
In a worst-case scenario, Trump warned the virus response “could go on until July, could go on to August, could be longer” and dubbed the virus an "invisible enemy."
Trump also stressed he will back the airlines 100% and this is nobody’s fault. He added after the virus goes away, the U.S. may see a tremendous economic surge.
The S&P 500 plunged 9% on Monday, triggering an automatic trading stoppage for the third time in a week.
This weekend, the U.S. Federal Reserve cut interest rates to a range of zero to 0.25% at an emergency meeting and said it would purchase another $700 billion in Treasury bonds and mortgage-backed securities.