World stocks plunge into bear market on U.S. travel curbs, ECB move
Reuters: Panic hit world financial markets today, after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves to restrict travel from Europe over the coronavirus pandemic. Global stocks plunged below bear market thresholds, with European shares taking their largest percentage drop on record. The pan-European STOXX 600 index lost 11.48%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 5.84% lower, while Japan’s Nikkei lost 4.41%.
Fed to inject $1.5 trillion in bid to prevent ‘unusual disruptions’ in markets
Wall Street Journal: The Federal Reserve said it would inject more than $1.5 trillion of temporary liquidity into Wall Street today and Friday to prevent ominous trading conditions from creating a sharper economic contraction. “These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” the New York Fed said today.
Broadway to go dark amid coronavirus concerns
Playbill: Broadway theaters will go dark beginning this evening. The announcement comes as venues and performing arts organizations around New York City and the country have announced closures of their own amid rising concerns about the global coronavirus pandemic. New York Gov. Andrew Cuomo announced that no gatherings of more than 500 people will be allowed, excepting schools, hospitals, mass transit and nursing homes. There was no word on when the theaters would resume operations.