News World What you need to know about coronavirus today

What you need to know about coronavirus today

Here’s what you need to know about the coronavirus epidemic today:

“Worst ahead”

Bars, restaurants, theatres and movie houses in New York and Los Angeles are shutting down as the full scale of the coronavirus epidemic dawns on U.S. authorities. New York Mayor Bill de Blasio said he was ordering restaurants, bars and cafes to sell food only on a take-out or delivery basis. Similar measures are taking effect in Los Angeles.

While President Donald Trump remains studiously optimistic about the outcome, Dr Anthony Fauci, the nation’s top infectious diseases expert, says the coming days are critical.

“The worst is yet ahead for us,” Fauci said, a warning he has issued frequently in the past week. “It is how we respond to that challenge that is going to determine what the ultimate end point is going to be.”

Losing faith?

After the Fed’s second emergency rate cut in a fortnight, Wall Street’s opening later on Monday could look pretty ugly if the usual advance indicators are anything to go by. S&P 500 futures are already strongly down, suggesting that a 15-minute cutout put in place to prevent another 1987 “Black Monday”-style crash may be triggered.

What does all this mean? For sure, financial markets have been underwhelmed by the collective policy response of world governments so far, and there remain huge concerns about the fate of key sectors such as the airline industry.

Equally, it is raising major questions about the ability of central banks – the guardians of the value of money – to do anything about an economic hit on this scale.

“When the investor community loses faith in the Fed, that’s when the market gets very dangerous,” said Michael O’Rourke, chief market strategist, Jonestrading, Stamford, Connecticut.

The spread

Europe is now clearly the epicentre of the outbreak: There are almost 170,000 cases of coronavirus globally and 6,509 reported deaths. In the past 24 hours, deaths and cases outside China surpassed the number inside China for the first time.

Spain has joined Italy in measures that amount to a partial lockdown of movement, and a growing number of countries in Europe’s “Schengen” border-free zone have started to impose restrictions on travel. France’s Emmanuel Macron is due to make an announcement later today, amid speculation that he will ask the country to accept greater levels of confinement.

(Reuters)

Top Stories

France recalls ambassador to Ankara over Erdogan comments

  France condemned Turkish President Recep Tayyip Erdoğan’s remarks questioning the mental health of President Macron and recalled its ambassador to Ankara for consultations. The French...

130 cases today, most from private initiative-28 patients in hospital

  One hundred and thirty new Covid-19 cases were announced today, out of 4 thousand 285 tests, taking the total number of confirmed patients to...

Greece approaches four-digit covid cases, 935 today

  The second coronavirus wave is climaxing in Greece as it recorded 935 cases today, the highest number since the second wave begun gathering pace...

Erdogan says Macron needs ‘mental treatment’ over attitude to Muslims

  Turkish President Tayyip Erdogan launched yet another scathing tirade of insults on his French counterpart Emmanuel Macron, saying he needed mental treatment over his...

We are independent, Michaelides tells AG over golden passports

  We are not under anyone's custodianship, the Auditor General Odysseas Michaelides told Attorney General Yiorgos Savvides, who earlier called on his office to stay...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...