Coronavirus: Markets React As Trump Places Travel Ban On Europe

Coronavirus: Trump Places Travel Ban On Europe

US President Donald Trump addresses the Nation from the Oval Office (image courtesy: AFP)

US President Donald Trump has announced a 30-day ban on travel from mainland Europe over the spread of coronavirus pandemic.

This move is believed to have pummelled stock markets, as traders fretted about the economic impact of the outbreak.

“We are marshalling the full power of the federal government and the private sector to protect the American people,” Trump said.

“This is the most aggressive and comprehensive effort to confront a foreign virus in modern history.”

Trump’s ban affects travellers from Europe — but not Britain — as the continent grapples with a burgeoning crisis.

The restrictions sent financial markets tumbling, with Euro Stoxx 50 futures plunging 8.3% to their lowest levels since mid-2016. U.S. stock futures were down more than 4%.

Meanwhile, Italy on Wednesday recorded more than 2,300 new cases over the previous 24 hours and infections in Spain jumped by a quarter to more than 2,100.

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John Andah is a fine-grained journalist. He has been a member of the fourth estate for a decade. He loves the smell of a good lead, and has a penchant for finding out something nobody else knows. John is Senior Assistant Editor at Concise News.

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