Bars, restaurants, theatres and movie houses in New York and Los Angeles were or...
- Bars, restaurants, theatres and movie houses in New York and Los Angeles were ordered to shut down and several nations in South and Central America closed their borders in the latest moves around the world to combat the spread of the coronavirus.
The coordinated policy actions were reminiscent of the sweeping steps taken just over a decade ago to fight a meltdown of the global financial system, but this time the target is an entirely unfamiliar foe - a fast-spreading health crisis with no certain end in sight that is forcing entire societies to effectively shut down.
“This cannot prevent the economic fallout from social distancing,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney, referring to a method being used by many countries to try slow the spread of the virus. Los Angeles Mayor Eric Garcetti issued similar orders later on Sunday. Any restaurant, bar or cafe selling food will only be able to do so via delivery or take-out, officials said.China, were the virus surfaced late last year, said industrial output contracted at the sharpest pace in 30 years in the first two months of the year as the disease disrupted the world’s second-largest economy.
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