Donald Trump receives new coronavirus recommendations. Based on the latest data, the US president’s advisers will outline next steps in the fight to combat the pandemic and restart the economy. The US now has the highest number of confirmed Covid-19 cases in the world.
China closes its borders from midnight. With domestic cases on the decline, China will no longer accept most foreign citizens into the country, even those with residence visas. Only diplomatic, emergency, and certain high-skilled visa holders will be allowed entry.
Meanwhile, the House votes on the stimulus bill. After the US Senate unanimously passed the $2 trillion relief package late Wednesday, House members are expected to approve it today with strong bipartisan support before Trump signs it into law.
Three million more people claimed unemployment benefits in the US last week. But although the Department of Labor is seeing record numbers of claims, the loss of jobs is still not at 2008 levels.
India’s central bank slashed rates. Indian stocks and bonds rallied after the Reserve Bank of India announced the new 4.4% rate, and put loan repayments from other banks on hold for three months. India is also gambling on a huge lockdown.
IN OTHER NEWS
The US indicted Nicolas Maduro for “narco-terrorism.” The Justice Department also offered a $15 million reward for intel that leads to the Venezuelan president’s arrest. Maduro said that it was part of US efforts—including support for his rival Juan Guaido—to boot him from power.
Millions of people turn off their lights for Earth Hour. Homes and businesses all over the world will go dark at 8:30pm on Saturday. Carbon emissions and air pollution have fallen sharply in various regions and cities as coronavirus shuts down industry and travel.
There’s good news and bad news for athleisure. Although Lululemon posted fourth quarter earnings that beat expectations, thanks to higher sales numbers through to December, uncertainty over coronavirus pushed it to scrap its 2020 fiscal outlook. The company’s shares fell 2% in after-hours trading.
This piece was written by Wayne Dupree on March 27, 2020. It originally appeared in WayneDupree.com and is used by permission.
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