Trump suspends travel from Europe, to defer some tax payments

In an address to the nation from the Oval Office, President Trump said he’s suspending all travel from Europe for the next 30 days in an effort to slow the spread of the coronavirus.

S&P 500 futures fall 2.1%, Dow futures fall 2.3%, Nadaq future slip 2.0%.

The travel restrictions won’t apply to the U.K.

He’s also taking emergency action to provide relief, which will be targeted for workers who are ill or taking care of someone who’s ill.

Instructs Small Business Administration to provide capital liquidity, low-interest loans to businesses affected;will ask Congress to increase funding to the SBA by $50B.

instructs Treasury to defer tax payments for some individuals and business, providing $200B in additional liquidity.

Calls on Congress for immediate payroll tax relief.

“No nation is more prepared or more resilient than the United States,” he said.

https://seekingalpha.com/news/3550824-trump-suspends-travel-from-europe-to-defer-tax-payments