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From the Louvre to the amusement parks across Asia, the Tokyo marathon and the annual pilgrimage millions of Muslims make to Mecca, almost no public gathering is proving immune to the coronavirus.
In the case of Italy, the entire country is enforcing an unprecedented lockdown while others such as Israel are requiring every person traveling there to self-quarantine for 14 days. Responding to Italy’s attempt to contain the virus, Malta and Spain announced a ban on air traffic from there. Meanwhile, Britain, Ireland, Hong Kong and Germany strengthened travel advisories or urged their citizens to leave.
As more countries ramp up travel restrictions and either cancel or delay commercial and community events, the world economy is bouncing on the rising and falling hopes and fears of investors. Asian stock markets rebounded Tuesday, while U.S. stocks hoped to recoup their losses from Monday’s erratic trading patterns.
In response to the coronavirus and the world economy’s swings to its spread, President Donald Trump has pitched a fiscal stimulus package, which may include a temporary payroll tax cut, paid sick leave for employees who catch the virus, deferred taxes on businesses such as airlines, cruise lines and hotels, and easier terms for small-business loans.
Trump met Tuesday with Republican senators to discuss the White House’s stimulus proposals. In a news conference following the meeting, the president urged Americans to stay calm: “It will go away. Just stay calm, it will go away.”
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