Dow Futures Crash as Coronavirus Forces Trump to Ban European Travel
Dow futures plummeted 1,000 points overnight as Donald Trump made the astonishing decision to ban all travel from Europe for the next 30 days (from midnight Friday, except for the United Kingdom). The economic impact of this will be tremendous, and the stock market crash looks set to continue today.
World Stock Markets are expected to follow suit when they open and billions are expected to be wiped off the value of shares heralding in a world recession. Tourist industries and economies that rely on them will be most affected as the US travel ban has very broad implications. Thousands will be laid off work as Airplanes sit on the tarmac due to lack of demand. Many small independent carriers are expected to go into bankruptcy.