GLOBAL MARKETS FALL SHARPLY AFTER THE US BANS EUROPEAN FLIGHTS DUE TO THE CORONAVIRUS

By Tony Winterburn • Published: 12 Mar 2020 • 9:21

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.

President Donald Trump speaks in an address to the nation from the Oval Office at the White House about the coronavirus.

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.