Photo: Spencer Platt/Getty Images

The New York Stock Exchange announced Wednesday that it will temporarily close its trading floor and move to electronic trading starting Monday due to concerns over the spread of the coronavirus.

Why it matters: New York is one of the epicenters of the coronavirus outbreak in the U.S. The city has already shut down public schools, banned gatherings of more than 50 people, and forced restaurants to offer only takeout and delivery.

What they're saying: “NYSE’s trading floors provide unique value to issuers and investors, but our markets are fully capable of operating in an all-electronic fashion to serve all participants, and we will proceed in that manner until we can re-open our trading floors to our members," NYSE president Stacey Cunningham said in a statement.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 31,937,244 — Total deaths: 977,624 — Total recoveries: 22,013,874Map.
  2. U.S.: Total confirmed cases as of 11 a.m ET: 6,937,145 — Total deaths: 201,959 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: The coronavirus is surging again — Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  4. Media: Pandemic spurs journalists to go it alone via email.
  5. Technology: The tech solutions of 2020 may be sapping our resolve to beat the coronavirus
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Republicans condemn Trump's refusal to commit to peaceful transfer of power

Photo: Joshua Roberts/Getty Images

A number of prominent Republican lawmakers addressed President Trump's refusal on Wednesday to commit to a peaceful transfer of power if he loses November's presidential election.

Driving the news: Senate Majority Leader Mitch McConnell tweeted, "The winner of the November 3rd election will be inaugurated on January 20th. There will be an orderly transition just as there has been every four years since 1792."

2 hours ago - Technology

Pandemic spurs journalists to go it alone via email

Illustration: Aïda Amer/Axios

A slew of high-profile journalists have recently announced they are leaving newsrooms to launch their own, independent brands, mostly via email newsletters.

Context: Many of those writers, working with new technology companies like Substack, TinyLetter, Lede, or Ghost, have made the transition amid the pandemic.

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