NEW YORK/LONDON (Reuters) – Bars, restaurants, theaters and cinemas were shutting down in New York, Los Angeles and other global cities to combat the coronavirus pandemic as countries tightened borders and central banks acted aggressively to cushion the economic impact.
The U.S. Federal Reserve cut interest rates, for the second time in less than two weeks, to near zero and other central banks followed suit, but stock markets and the dollar continued to tumble.
European stocks fell on Monday to their lowest level since 2012, with investors still worried about the threat to the global economy, and Wall Street futures for the S&P 500 index hit their down limit, suggesting Wall Street was set to follow suit.
“Many children think it is scary,” Norwegian Prime Minister Erna Solberg told a news conference, at her office, dedicated to answering children’s questions about the pandemic.
“It is okay to be scared when so many things happen at the same time.”
Leaders of the G7…
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