Glacier FarmMedia COVID-19 & the Farm

Global Markets: Travel suspended between U.S. and Europe

By MarketsFarm

WINNIPEG, March 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump announced a ban on travel between Europe and the U.S., effective Friday for 30 days. This move came in an attempt to combat the spread of the COVID-19 coronavirus, though over 1,000 cases have already been confirmed in the U.S. Earlier on Wednesday the World Health Organization officially declared the disease a pandemic. A White House statement clarified exemptions to the travel restrictions, including American permanent residents, citizens, and families of citizens.

– Global stock indices tumbled again on Thursday due to a widespread sell-off of global equities. The Dow Jones officially entered a bear market, formally ending the longest bull-run in U.S. history. Around the world, stock indices suffered similarly. The Stoxx Europe 600 fell by more than seven per cent, and Japanese stocks closed lower by over four per cent.

– U.S. wholesale prices fell by 0.6 per cent in February, which was the largest decline in five years. The reduction was due to a sharp drop in energy costs. Additionally, the U.S. Labor Department said consumer prices increased by a modest 0.1 per cent.

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