A United Airlines plane lands at San Francisco International Airport on March 6 in Burlingame, California. Photo: Justin Sullivan/Getty Images

United Airlines said in a statement Sunday it will cut capacity by about 50% for April and May from Monday, as the airline sees a drop in demand because of the novel coronavirus outbreak.

The big picture: The announcement comes after Delta Airlines announced Friday it would reduce its flight capacity by 40% for the next four months over the outbreak. United said even with the cuts it announced, "we're expecting load factors to drop into the 20–30% range — and that's if things don't get worse."

Go deeper: Coronavirus rattles travelers — and airlines

Editor's note: This article has been updated with more comment from United and context.

Go deeper

How the Robinhood effect is moving the stock market

Reproduced from BCA Research using Bloomberg data; Table: Axios Visuals

A report from BCA Research published Monday finds Robinhood users are moving into speculative bets at an incredible rate, radically increasing holdings in three groups of stocks — airlines, cruise ships and mortgage REITs.

What's happening: "Retail investors have provided institutions with an opportunity to exit stocks in the three stressed groups," Doug Peta, BCA's chief U.S. investment strategist, writes in the note.

Jun 22, 2020 - Health

Texas governor warns coronavirus is spreading at an "unacceptable rate"

Gov. Greg Abbott. Photo: Lynda M. Gonzalez-Pool/Getty Images

Texas Gov. Greg Abbott (R) said at a press conference on Monday that he is concerned the coronavirus is spreading at an "unacceptable rate" following the state's reopening, but that he would only support a second shutdown as a last resort.

Why it matters: Texas is well into its "phase 3" of reopening, allowing businesses to host up to 50% capacity. But the state outbreak is one of several that has seen a surge in infections in recent weeks, averaging more than 3,500 daily new cases and a positivity rate higher than 9%.

Updated Jun 26, 2020 - World

EU prepares to ban American travelers as borders reopen on July 1

French President Macron (L), Trump and German Chancellor Merkel. Photo: Christian Hartmann/Pool/AFP via Getty Images

The European Union is preparing to ban American travelers from entering the bloc when it reopens its borders to the outside world starting July 1, labeling the U.S. along with Russia and Brazil for their failure to stop the spread of the coronavirus, according to the New York Times.

Why it matters: It's an international rebuke of the Trump administration's handling of the pandemic. Millions of American tourists travel to the EU every summer, but that's unlikely to happen until the U.S. gets the virus under control.