A sign displays that college is closed as the coronavirus continues to spread across the US in Paramus, New Jersey. AFP
With panic buying on Main Street and fear-driven sell-offs on Wall Street, the US Federal Reserve cut interest rates to near zero on Sunday in another emergency move to help shore up the US economy amid the rapidly escalating coronavirus pandemic.
New York City Bill de Blasio on Sunday said he was ordering restaurants, bars and cafes to only sell food on a take-out or delivery basis. He also said he would order nightclubs, movie theaters, small theater houses and concert venues to close.
US President Donald Trump, who had openly pressed the Fed for further action, called the move "terrific" and "very good news."
Americans are waking up to a new reality as coronavirus spreads, with store shelves stripped bare of essentials, schools closed and millions of jobs in jeopardy as businesses temporarily shut their doors. New York City joined the nation's other major public school systems in calling off classes starting this week.
With limited testing available, US officials have recorded nearly 3,000 cases and 65 deaths, up from 58 on Saturday. Globally more than 162,000 are infected and over 6,000 have died.
Pence also said the government on Monday morning would issue updated federal guidelines, which he described as "broad-based recommendations for the American public."
The US Centers for Disease Control on Sunday recommended that events with gatherings of 50 or more people over the next eight weeks be postponed or canceled.
A record daily increase of 370 according to a Reuters tabulation of official data. Worldwide, confirmed cases rose above 593,000 with 27,198 deaths, the Johns Hopkins Coronavirus Resource Center reported.
The death toll from the virus has surged to more than 14,400, with Europe the epicentre but the situation worsening from Pacific islands to Africa and the United States.
The deaths were recorded in the 24 hours up to 8:30pm (0030 GMT Friday), bringing the overall coronavirus death toll in the United States to 49,759, according to the Baltimore-based university.
The campaign, initiated by the UAE, seeks to provide relief to Palestinian brothers in the Gaza Strip by offering urgent assistance.
Sheikh Mohamed Bin Zayed discussed with guests the bilateral relations between the UAE and their respective countries, along with regional and international issues of mutual interest.
The price of Super 98 dropped from Dhs3.03 to Dhs2.96 per litre for December, and so did the price of Special 95, which dropped from Dhs2.92 to Dhs2.85 per litre for December.
As the 70,000 delegates expected to attend COP28 descend on the gleaming Emirati city of Dubai, governments are preparing for marathon negotiations on whether to agree, for the first time, to phase out the world's use of CO2-emitting coal, oil and gas.