Coronavirus sends stocks spiraling and congressmen into quarantine as fear grips US

The United States is feeling the effects of an illness that has troubled countries around the world as doctors and hospitals attempt to assess and respond to the epidemic.

The U.S. financial market was sent spiraling on Monday morning as several congressional lawmakers self-quarantined themselves after learning they had contact with an infected COVID-19 patient at a conservative political conference in D.C. Reps. Matt Gaetz, Paul Gosar, Doug Collins, Julia Brownley, and Sen. Ted Cruz all announced they would self-quarantine after they each had contact with a person who tested positive for the disease.

The New York Stock Exchange shuttered trading as automated circuit breakers, which halt trading, registered only 15 minutes after the opening bell as stocks sank into what CNBC analyst Jim Cramer called “uncharted territory.” The market fell more than 2,000 points in the single worst day of trading since the subprime mortgage collapse in 2008.

Critics ripped President Trump for what they see as a failure to act in a timely manner as the virus spread stateside and the Centers for Disease Control and Prevention was forced to recall test kits after it was revealed they were inaccurate. Students at Princeton University were urged to “stay home” after their spring break ends next week as public schools across the country have begun to close in response to the outbreak.

Vice President Mike Pence, who is leading a team to combat the spread of the virus, confirmed that 20 people are infected out of 3,533 passengers aboard a Grand Princess cruise ship that docked in California on Monday.

In New York, Gov. Andrew Cuomo promoted a new hand sanitizer that was produced by state prisoners, which the governor touted as a “superior product” to consumer brands. Cuomo also confirmed that New York/New Jersey Port Authority Executive Director Rick Cotton had been quarantined after testing positive.

Cable news network CNN declared the virus a pandemic, getting ahead of World Health Organization and CDC officials, who have yet to label the disease as such. A number of media outlets including Politico, the Washington Post, and Mother Jones told staff to stay away from their offices if they covered the Conservative Political Action Conference last weekend.

More than 3,500 people have died, and over 100,000 people have been infected worldwide by the virus, which is believed to have originated in China at the end of last year. About 20 people have died in the U.S. as a result of the disease as infected cases continue to rise.

Related Content