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U.S. President Donald Trump delivered a speech from the Oval Office this week. His goal was to discuss what the United States government was doing to protect Americans from the new coronavirus and to reassure them it would eventually pass.
PRESIDENT DONALD TRUMP: We have been in frequent contact with our allies and we are marshaling the full power of the Federal government and the private sector to protect the American people. This is the most aggressive and comprehensive effort to confront a foreign virus in modern history. I am confident that by counting and continuing to take these tough measures, we will significantly reduce the threat to our citizens. And we will ultimately and expeditiously defeat this virus.
AZUZ: So what are some key parts of that effort? The president says with some exceptions travel from Europe to the United States will be suspended for a month. Health industry executives have agreed to make coronavirus treatments cheaper and easier to get. Tax relief is ahead for some businesses that are losing revenue because of the pandemic. The president says no nation is more prepared or resilient than the United States but some Democrats and Republicans on Capitol Hill were questioning that preparedness yesterday.
One issue they had was with coronavirus testing. They say it's not as widely available in America as it is in some other countries like South Korea and that that's a problem.
As the disease spreads, its effects are spreading as well. The U.S. Capitol is now closed to visitors. The Metropolitan Museum of Art has closed. The National Basketball League has suspended all of its games. The National Hockey League announced the same thing yesterday. Major League Baseball has suspended spring training. March Madness has been canceled. Disneyland is closed. Around the world there have been cancellations and closures like these, sometimes including country's borders.
And international stock markets have seen dramatic swings and losses. Because of this weeks drops in U.S. stocks, Wall Street is now said to be in bear market territory.
