He will also instruct the Treasury Department to defer tax payments for impacted individuals and businesses, he said.
In another drastic move, the National Basketball Association suspended its entire season after a player tested positive for coronavirus Wednesday night, another sign of the virus’s wide spread and deep impact across the country.
As the number of known novel cases surpassed 120,000 worldwide, the World Health Organization declared the novel coronavirus a pandemic. “We are deeply concerned both by the alarming levels of spread and severity," WHO Director-General Tedros Adhanom Ghebreyesus said, "and by the alarming levels of inaction.”
Here are the latest developments:
- The United States has more than 1,000 cases with upwards of 30 deaths.
- Tom Hanks said he and his wife, Rita Wilson, have tested positive for coronavirus in Australia.
- The Dow reached bear-market territory on a nearly 1,500-point skid as panic intensified about the coronavirus, which threatens to debilitate global economies and bring on a recession.
- Ohio will limit large gatherings, and Washington state introduced similar measures in the Seattle area. The NCAA announced that its college basketball tournaments will be held without fans in attendance.
- German Chancellor Angela Merkel warned Wednesday that up to 70 percent of her country could end up infected.