Coronavirus briefing: World markets tumble and other updates for Monday, March 9
Global markets fell overnight and the U.S. stock market halted trading for 15 minutes Monday morning amid growing fears of the economic impact of the coronavirus outbreak.
The virus, first reported in China, has swept across Asia and now has sparked new outbreaks in Europe and the United States.
More than 111,000 cases of COVID-19 have been confirmed worldwide with nearly 3,900 deaths as of March 9, according to Johns Hopkins University. The United States has more than 560 confirmed cases with 22 deaths.
The World Health Organization has labeled the coronavirus outbreak a “very high” risk of spread and impact, but has so far stopped short of declaring it a global pandemic.
Markets tumble amid coronavirus fears
World markets fell overnight Sunday amid coronavirus fears and an oil price war, NBC News reported.
On Monday, U.S. stock markets froze trading for 15 minutes shortly after the opening bell as the Dow Jones Industrial Average plunged 1,800 points and the S&P 500 fell by 7%, triggering a 15-minute halt in trading, CNBC reported.
Investors seeking stability as fears rise that production delays and economic slowdowns could spark a recession turned to U.S. Treasury bonds and gold, NBC News reported.
Also, the New York Federal Reserve pledged Monday to boost the amount of money offered to banks for short-term funding needs, according to the network.
Indian Wells tennis tournament canceled
The Indian Wells tennis tournament in California, scheduled to start Monday, has been canceled amid efforts to limit the spread of coronavirus, Forbes reported.
“We are very disappointed that the tournament will not take place, but the health and safety of the local community, fans, players, volunteers, sponsors, employees, vendors, and everyone involved with the event is of paramount importance,” said director Tommy Haas, according to the publication.
Also known as the BNP Paribas Open, the annual tennis tournament takes place in the Coachella Valley of California, The New York Times reported. In 2019, 450,000 people attended the event.
In Japan, the opening day for the professional baseball season has been postponed from March 20 as a result of the coronavirus outbreak, Reuters reports.
Two GOP lawmakers to self-quarantine
Sen. Ted Cruz, R-Texas, and Rep. Paul Gosar, R-Arizona, announced they will self-quarantine at home after coming into contact with an infected person at the Conservative Political Action Conference last week, Bloomberg reported.
“I’m not experiencing any symptoms, and I feel fine and healthy,” Cruz said in a statement, according to the publication. He plans to remain at home in Texas for 14 days.
Gosar announced he and his staff will self-quarantine in Arizona this week, Blooomberg reported.
Coronavirus cases confirmed in 34 states
More than 550 people in the United States have come down with the COVID-19 virus across 34 states and the District of Columbia, CNN reports. Twenty-two have died.
States with confirmed cases include Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Massachusetts, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington state and Wisconsin.
Tips to help protect yourself from coronavirus
There’s no vaccine for the COVID-19 virus, and experts say one may be months away from mass production.
The U.S. Centers for Disease Control and Prevention suggest avoiding close contact with people who are sick, avoiding touching your eyes, nose, and mouth, staying home when you are sick, covering your cough or sneeze with a tissue and cleaning and disinfecting frequently touched objects and surfaces using a regular household cleaning spray or wipe.
The agency also advises washing your hands often with soap and water for at least 20 seconds, especially after going to the bathroom; before eating, and after blowing your nose, coughing, or sneezing.
The CDC does not advise that healthy people wear face masks, but says they should be worn by coronavirus patients to help avoid spreading the illness.
This story was originally published March 9, 2020 at 8:51 AM with the headline "Coronavirus briefing: World markets tumble and other updates for Monday, March 9."