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Coronavirus update March 20

Current Events, Financial Crisis

Coronavirus
- Coronavirus cases top 200,000
- Coronavirus has now spread to all 50 states and DC, US death toll passes 100
- Thousands line up for first drive-thru coronavirus testing

Finance/Business
- Fed cuts rate to 0, starts QE
- Reserve requirements cut to zero
- Fed Establishes Currency Swaps With 9 Central Banks
- Fed backstops money markets
- Fed backstops municipal bonds
- Dow drops 3,000 points on Monday
- 10-year Treasury yield sees biggest one-day drop since March 2009 after Fed’s emergency actions
- NYSE to temporarily close floor
- Dow closes below 20,000
- 1 and 3 month Treasuries hit negative rates
- Paper and physical gold price decouple
- Unemployment claims skyrocket
- ECB announces €750 billion Pandemic Emergency Purchase Programme
- Oil hits 18-year low
- Companies suspend earnings forecast
- Manufacturing orders plunge from 33.6 to -15.5
- Bank of England (BOE) cut interest rates to 0.1%

World
- France and Spain ban all non-essential activities
- Canada closes borders to foreign travelers
- England to shut schools
- European Union closes external borders
- China Expels American Journalists
- UK national lockdown

Government
- Atlanta mayor declares state of emergency in city
- House lawmakers indefinitely postpone return to Washington
- Supreme Court, for first time since 1918, postpones oral arguments
- Canadian border closes
- Government bailout requests top $1 trillion
- Congressman insider trading

Closures
- Closure of restaurants, bars in Washington state will last 2 weeks and may be extended
- NY City Schools, Restaurants and Bars Are Shut Down
- Chick-fil-A closes dining room doors
- T-Mobile Closes Indoor Mall Stores
- T-Mobile closes 80% of corporate retail stores
- Bay Area counties ordered to shelter in place
- Automakers temporarily shut down factories
- Malls shut down
- Hollywood Studios Halt Film And TV Production
- Atlanta limits restaurants, closes bars
- California issues order to ‘stay at home’

Links
- "Total F**king Carnage" - Global Liquidation Accelerates Despite Massive Monetary Intervention
- 3/16 updates

Posted: 2020-03-20 16:07:36


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