The coronavirus is now officially a pandemic, and the S&P 500 is right on the edge of ending the 11-year bull market that followed the Great Recession.
The big picture: Even well-intentioned moves like closing offices and schools can put millions at risk because they don't have paid sick leave or are students who rely on school for housing and meals.
Between generations, it's the perfect moment for young and healthy people to do their part to avoid putting the sick and elderly at risk.
- Self-quarantining isn't just protecting yourself, it's to slow the spread so those who need hospital beds can get them.
- Be smart: Now is not the time to buy a cheap plane ticket to see grandma.
Why it matters: This is the time when institutions like government and media need the credibility and trust to tell people hard truths.
- "Pandemic is not a word to use lightly or carelessly," the WHO's director said today. "It is a word that, if misused, can cause unreasonable fear, or unjustified acceptance that the fight is over, leading to unnecessary suffering and death."
- Congress' in-house doctor expects 70 million–150 million Americans to contract the virus, he told staffers this week behind closed doors.
The bottom line: It appears that American politicians are finally grappling with the scale of this threat, more than a month after the WHO declared a global emergency.
- President Trump, who claimed on Feb. 24 that the virus was "very much under control in the USA," will deliver a statement tonight at 8pm ET.