Coronavirus layoffs spark surge in state jobless claims
Ohio saw over 48 000 initial jobless claims in the first two days of the week up from 1 825 last week while global unemployment is rising. The ILO warns up to 25 million jobs could be lost worldwide and up to 3.4 trillion in income vanishes this year.
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NYSE shifts to all electronic trading after positive COVID tests
The New York Stock Exchange suspends floor trading and moves to fully electronic operations starting March 23 after two brokers test positive for coronavirus. Dow falls 6.3 percent to 19,898.92. S&P 500 down 5.18 percent as markets retreat from highs. FDIC warns on scams as many banks cut hours and push online banking amid the pandemic.
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White House urges hospitals to cancel elective surgeries amid virus crisis
The White House pressed hospitals to cancel nonessential procedures to avoid overwhelming the system as President Trump faced questions about testing access for celebrities. He warned of a wartime effort, defended the Chinese virus label, and outlined use of the Defense Production Act and a federal health resource allocation order. Birx warned of test backlogs, stressed social distancing, and urged younger people to avoid gatherings while officials prep public service ads.
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