( Reuters) – Coronavirus worries caused a historical drop in U.S. stocks, shut borders and interfered with every day life around the globe, as federal governments took significantly extreme steps to attempt to minimize the intensity of the international outbreak.
Monetary markets had their worst day in 30 years regardless of emergency action by international central banks to attempt to avoid an economic downturn, with U.S. stock markets falling 12%to 13%, eliminating trillions of dollars in market value.
Just a month back, monetary markets were hitting record highs on the presumption the break out would largely be contained in China and not cause disturbances beyond what was seen with earlier viral outbreaks of Ebola, SARS and MERS. There have actually now been more cases and more deaths outside mainland China than within, with 180,000 cases worldwide and over 7,000 deaths. Tracking the spread here
Canada, Chile and other countries closed their borders to visitors. Peru released masked military workers to block major roads, while Ireland released a campaign to recruit more healthcare employees. Airline companies slashed flights, shed tasks and asked federal governments for billions of dollars in loans and grants.
In contrast to much of the world, Mexico and Brazil still held big political rallies and the United Kingdom kept its schools open.
GRAPHIC: Track the spread of coronavirus – here
‘ UNDETECTABLE ENEMY’
U.S. states pleaded with the Trump administration on Monday to collaborate a nationwide action to the break out, saying patchwork procedures enacted by state and regional authorities were insufficient to face the coast-to-coast emergency that has eliminated at least 74 Americans.
A couple of hours later, President Don