Trump addressed the nation as financial markets entered bear market territory and confirmed coronavirus cases in the United States topped 1,200.
The White House has struggled to execute a cohesive plan to stop the spread of the virus. The president has careened back and forth between insisting the coronavirus is no worse than a common flu and demanding that Congress pass drastic financial relief, including a proposed payroll tax holiday.
On Wall Street, the coronavirus-induced sell-off reached new levels as investors grappled with the rapid spread of the virus as well as uncertainty around a fiscal response to curb slower economic growth from the outbreak.tumbled 1,464.94 points, or 5.9%, to close at 23,553.22. The 30-stock average closed in a bear market, down more than 20% below the record close set only last month. Wednesday's close likewise put an end to a market expansion that started in 2009 amid the financial crisis.
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