Trump Invokes Defense Act; Europe Passes China: Virus Update [Yahoo! Finance News]
Gap, Inc. (The) (GPS)
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Source: Yahoo! Finance News
) -- President Donald Trump invoked the Defense Production Act, allowing the government to boost manufacturing of masks and protective equipment. Europe surpassed China in the number of coronavirus infections. The president also ordered a Navy hospital ship with 1,000 beds to head to New York Harbor. New York Governor Andrew Cuomo mandated that non-essential businesses have no more than half their workforce in the office. German Chancellor Angela Merkel signaled she may be open to joint European Union debt, and bonds plunged on concern about a deluge of issuance. Financial markets spasmed, sending U.S. stocks down to 2018 levels and ’s dollar index to a record. Key Developments: Cases hit 205,568 worldwide, deaths exceed 8,205Trudeau unveils stimulus worth 3% of economyJapan Olympic committee still planning summer eventCases soar in Iran, Spain; Hong Kong has biggest daily increaseThe U.S. and Canada closed its border to non-essential traffic.Gap plans to close some stores, and U.K. s
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