Markets rebounded massively during that briefing. But stock futures plunged before Monday’s open, hitting so-called limit down levels in multiple major indexes and extending the severe market rout. The backslide came despite the Federal Reserve’s decision over the weekend to slash interest rates.
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Disease, suggested later in the briefing that Americans, many of whom have seen their lives upended amid the crisis, may be able to make a return toward normalcy before midsummer.
The White House during the briefing put out a new set of guidelines with safety recommendations for Americans to follow. But those “are a 15-day trial guideline,” Fauci said. “It isn’t that these guidelines are going to be in effect until July.”
The coronavirus, which is believed to have originated in the Chinese city of Wuhan, has swept across the globe, infecting at least 180,000 people and killing more than 7,000, according to Johns Hopkins University figures. There are now more than 4,200 cases of COVID-19 and at least 74 deaths in the U.S. alone, Johns Hopkins’ data shows.
Fears about the coronavirus, as well as the international efforts to slow its spread, have crippled multiple industries and threatened to throttle others – such as the restaurant and entertainment sectors.
The potential damage to those industries is expected to worsen as state and city leaders across the nation take unprecedented steps to stifle transmission.
On Monday morning, Govs. Andrew Cuomo of New York, Ned Lamont of Connecticut and Phil Murphy of New Jersey announced that each of their states agreed to enforce the closing of certain businesses and limit public gatherings to fewer than 50 people.
Article source: https://www.cnbc.com/2020/03/16/trump-admits-that-coronavirus-crisis-could-stretch-into-july-or-august.html