COVID-19: Stock Market Turbulent After Trump Announces Travel Restrictions To Combat Virus

Stock Market expected to see steep decline Thursday after President Trump delivers Wednesday night speech announcing restrictions to mitigate the spread of coronavirus in the United States. (photo: Shutterstock)

The U.S. Stock Market is expected to to suffer more losses after President Donald Trump announced Wednesday night that he is taking unprecedented measures – including a travel ban on flights coming from Europe – to combat the growing Coronavirus crisis.

According to Fox Business the equity futures are pointing to more losses in U.S. stock markets Thursday, and the S&P 500 “moved from a loss of 0.4 percent just before Trump spoke from the Oval Office at 9 p.m. EST to a loss of 3.3 percent an hour later.”

Future markets are expected to decline of 5 percent or about 1150 Dow points, analysts predict.

The World Health Organization (WHO) categorized the virus as a pandemic on Wednesday, and Dr. Tedros Adhanom Ghebreyesus, the controversial director of the World Health Organization, stated in a press briefing that the organization is “deeply concerned by the alarming levels of the Coronavirus spread, severity and inaction, and expects to see the number of cases, deaths and affected countries climb even higher.”

 

For more information on the Stock Market and what’s to be expected go to Fox Business. 

Share: