Vice President Pence on Thursday confirmed that the coronavirus is more lethal than the flu and predicted that the United States can expect “thousands of more cases.”
NBC News’s Savannah Guthrie asked Pence during an appearance on “Today” to confirm that “this is much more lethal than the seasonal flu.”
“It is, Savannah,” Pence responded. Continue reading.
Congressional Democrats are also pushing for a new legislative package to address falloutWhite House advisers on Monday plan to present President Trump with a list of policy changes they hope could stem the economic fallout of the coronavirus, including paid sick leave and emergency help for small businesses, according to a senior administration official.
The talks have accelerated as congressional leaders said they are considering their own legislative remedies to address the economic turmoil. Congressional Democrats are discussing how to propose paid sick leave as part of new legislation, and a key Senate Republican is looking at changes to tax policy that could seek to address the heightened fears.
But many policy makers are now focused menu of options that advisers will offer Trump this afternoon when he returns from Florida. The list includes deferring taxes on specific industries hit by the coronavirus downturn, such as the hospitality and travel industries, as well as a “cashflow injection” for small businesses through the Small Business Administration. Continue reading.
Stocks plunged Monday morning as investors braced for a potential price war among oil exporters that could deepen the economic damage caused by the global coronavirus outbreak.
The Dow Jones Industrial Average had fallen more than 1,800 points, an 7.2-percent decline, shortly after 2 p.m. The S&P 500 index was down 7 percent, triggering an automatic 15-minute pause before and the Nasdaq composite was down 6.2 percent.
Stock futures trading predicted stark losses for the market after the Organization of Petroleum Exporting Countries failed to reach a deal on oil output Saturday, prompting Saudi Arabia and Russia to slash prices. The cuts sent oil prices plunging toward the lowest level since 1991. Continue reading.
