March 18 coronavirus news

The Trump stock rally, which at its peak a month ago was robust and seemingly unending, has completely evaporated.

The Dow briefly fell more than 1,500 points on Tuesday, bringing the index below 19,732 points. That was the Dow's closing level on January 19, 2017, the day before Trump took office.

The S&P 500 is still above its Trump inauguration level, but it is moving closer to wiping out all of Trump's stock market gains as well. The index, which is the broadest measure of Wall Street, was down 6.3% in the early afternoon on Tuesday.

Global equities have been hit hard by the worries about the economic fallout from the coronavirus outbreak, which has by now infected more than 7,000 people in the United States.

Economists predict recessions for both individual countries and the world economy this year as the pandemic dealt both a supply and demand shock to commerce. That said, expectations for a sharp rebound for the economy and the stock market towards the second half of the year are high.

President Trump was pressed Wednesday by CNN’s Kaitlan Collins on the ventilator shortage at the nation’s hospitals.

Asked why it took so long if the US knew it needed more ventilators, he said, “Well we knew – it depends, it depends on how it goes, worst case, absolutely, best case, not at all. So we’re going to have to see where it goes. But we are ordering thousands and thousands of ventilators and they’re complex. These are complex machines.”

Trump asked Vice President Mike Pence how many ventilators the US has.

“We have a specific number of ventilators in the stockpile. It’s in excess of 10,000. And you just heard the announcement from the Department of Defense, they’ll be adding several more thousand to that,” he said, adding that that number doesn’t count all of the ventilators that exist in the marketplace and in healthcare facilities around the country. 

Pence went on to praise the “tremendous spirit” among industry leaders who are “ready to step in and add to that volume.

Hear what was said:

Italian Sport Minister Vincenzo Spadafora said Wednesday that if people will not stay at home, in compliance with the coronavirus emergency measures, the government will be forced to "ban outdoor sports activities."

He added that the general consensus was to stay at home but "if people will not follow it, we will be forced to place an absolute ban," Spadafora said.

Spadafora made the announcement on Italian State television RAI 1.  

The "Cure Italy" (Cura Italia) decree passed this week by the government and "suspended all tax obligations until 30 May for all sports federations and sports activities" and "suspended the rents of all those structures owned by the State and municipalities where sports activities are held," according to the decree. 

Spadafora also indicated that Seria A soccer league will possibly resume on May 3. 

"This is what we hope for. We will evaluate whether with open or closed doors, this will depend on the situation," Spadafora said.  

Police arrested renowned Egyptian novelist Ahdaf Soueif and three prominent activists who sounded the alarm about the spread of novel coronavirus in Egypt’s overcrowded prisons in a demonstration in Cairo on Wednesday.

The four women held banners and red balloons outside the prime minister’s office demanding authorities take serious action to secure prisoners.

“If these are the usual circumstances in prisons holding tens of thousands of activists, imagine what it would be like these days when the government is trying to contain the spread of the coronavirus,” she added.

Fifteen minutes into the broadcast, police grabbed the phone and interrupted the transmission.

None of the women have been reachable since then. Lawyer Khaled Ali said the women, including Soueif's sister Laila and American University in Cairo professor Rabab Al-Mahdy, were in Qasr El-Nile Police station in central Cairo. 

The health and lives of thousands of prisoners in Egypt could be “at severe risk,” a group of United Nations independent experts concluded in a report last November. A number of prisoners, including Egypt’s former president Mohammed Morsi, died in incarnation.

Human Rights Watch recommended that Egypt, along with governments in other affected countries, release unfairly detained prisoners in a bid to contain the spread of COVID-19.  

President Trump says he sees the country on wartime footing and himself as a "wartime president" amid a raging coronavirus crisis.

"I do," Trump said when asked if he sees the country at war with the disease. "I'm looking at it that way."

"I mean, that's what we're fighting. I mean, it's a very tough situation here," he went on. "You have to do things. You have to close parts of an economy that six weeks ago were the best they've ever been. We had the best economy we've ever had. And then one day you have to close it down in order to defeat this enemy, and, but we're doing it and we're doing it well."

Trump praised the nation's citizens for their response.

"The American people have been incredible — for the most part," he said.

President Trump was pressed Wednesday on why he is calling coronavirus the “Chinese Virus,” amid instances of bigotry against Asian-Americans.

He did not indicate that he will stop calling it that, and claimed that he is using the term because China tried to blame the virus on US soldiers.

“Cause it comes from China. It’s not racist at all, no, not at all. It comes from China, that’s why. I want to be accurate,” Trump said.

Pressed again, he said, “I have great love for all of the people from our country, but as you know China tried to say at one point… that it was caused by American soldiers. That can’t happen, it’s not gonna happen, not as long as I’m president. It comes from China.”

See the exchange:

President Trump said Wednesday he doesn’t agree with Treasury Secretary Steve Mnuchin’s comments to Republican senators that US unemployment could reach Great Depression levels of 20%.

But, he added, “We’re nowhere near it.”

The World Health Organization is continuing to call on countries to isolate, test and treat suspected cases of novel coronavirus as the pandemic sweeps the world. 

Tedros added: “This is the best hope of preventing widespread community transmission. Many countries are listening to our call and finding solutions to increase their ability to implement the full package of measures that have turned the tide in several countries.”

Defense Secretary Mark Esper said the Department of Defense will make available up to five million N95 masks and other personal protective equipment from US strategic reserves, he said, noting that “the first one million masks will be available immediately.” 

He said they are also prepared to distribute “up to 2,000 operational deployable ventilators for use as needed” to the Department of Health and Human Services. Esper announced these steps on ventilators and masks on Tuesday.  

He added: “We’ve certified our 16th lab to help with processing tests from across the country.” Yesterday, this number was 14. 

Esper said the USS Mercy and Comfort Navy hospital ships are being prepared to deploy.

“We have also alerted a variety of field and expeditionary hospitals to be ready to deployed as needed, based on direction from the commander in chief,” he said.

He said his department is “leaning forward” in its response, noting that the Department has issued international and domestic travel restrictions to all DOD personnel and families.