U.S. health officials on Tuesday issued the most serious coronavirus warning so far to Americans since the outbreak started in China.
The CDC warned that the outbreak reaching the U.S. is now inevitable and Americans should prepare for the possibility that life could be disrupted.
That warning helped knock Wall Street off its feet for a fourth straight session Tuesday… Investors ran for cover and flocked to the perceived safety of U.S. government bonds.
The demand was so intense the yield on the benchmark 10-year note fell to an all-time low.
During his trip to India, President Trump tried to offer reassurance the U.S. is working with global partners to contain the coronavirus and is preparing for a potential outbreak at home.
SOUNDBITE (ENGLISH): U.S. PRESIDENT DONALD TRUMP, SAYING: "And as you know, we approved, I approved $2.5 billion for just that purpose and also for working to getting a vaccine." But back on Capitol Hill, Democratic lawmakers said that was not enough.
SOUNDBITE (ENGLISH): SENATE MINORITY LEADER CHUCK SCHUMER (D)-NEW YORK, SAYING: "With no plan to deal with this potential health crisis, the administration last night issued an emergency budget request.
It was too little, and too late.
Four words describe the administration's response to the coronavirus - towering and dangerous incompetence." In seeking the funding, Secretary of the U.S. Health and Human Services Alex Azar told a senate subcommittee the U.S. needs to provide aide to state and local governments, help develop treatments and expand the stockpile of protective equipment like surgical masks... SOUNDBITE (ENGLISH): SENATOR JOHN KENNEDY, (R) LOUISIANA, SAYING: "How many face masks do have?" SOUNDBITE (ENGLISH) ALEX AZAR, HEALTH AND HUMAN SERVICES SECRETARY, SAYING: "We currently 30 million and 90 respirators in the strategic national stockpile." SOUNDBITE (ENGLISH): SENATOR JOHN KENNEDY, (R) LOUISIANA, SAYING: "How many do we need?" SOUNDBITE (ENGLISH) ALEX AZAR, HEALTH AND HUMAN SERVICES SECRETARY, SAYING: "Dr. Kadlec mentioned to the Senate this morning of needing approximately 300 million ofr healthcare workers." Even if the U.S. is successful in containing the spread of the virus here… wall street is clearly growing worried that with outbreaks beyond China, in South Korea, Iran and Italy - the disruption to the global economy can't be avoided and could be long-lasting.
After the stock market Monday suffered its biggest sell-off in two years, the Dow tumbled another three percent in Tuesday afternoon trade.
Wall Street's main indexes rose to all-time highs on Friday as data showing the slowest U.S. jobs growth in six months raised investors' expectations for a new fiscal relief bill to help revive the coronavirus-hit economy. Conway G. Gittens reports.
Spartan Capital Securities chief market economist Peter Cardillo tells Reuters Fred Katayama investors are overly optimistic on the impact of vaccines as AstraZeneca's trial data comes under question. He also provides his view on retailers' prospects for the holiday shopping season.
[NFA] Moderna will apply for U.S. and European emergency-use authorization for its COVID-19 vaccine on Monday after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns, the company said. Lisa Bernhard produced this report.
The United States is likely to have enough safe and effective COVID-19 vaccines available to inoculate the most vulnerable Americans by the end of 2020, Health and Human Services Secretary Alex Azar said on Wednesday. This report produced by Chris Dignam.
[NFA] U.S. House of Representatives Speaker Nancy Pelosi and Republican Senate Majority Leader Mitch McConnell agreed in talks Thursday that a COVID-19 relief package and a government funding bill should pass “as soon as possible." Colette Luke has more.
[NFA] The White House coronavirus task force coordinator Dr. Deborah Birx on CBS’s ‘Face The Nation’ Sunday said she is increasingly concerned about a potential new spike in COVID-19 infections after Thanksgiving, as lawmakers continue to stall on legislation that could be crucial to vaccine distribution. Gavino Garay has more.