Amid coronavirus scare, US suspends all travel from Europe for 30 days

President

Donald Trump said he will suspend all travel from Europe to the US for the next

30 days, the most far-reaching measure yet in the administration’s efforts to

combat the spread of coronavirus.

The

restrictions, which will not apply to the UK, will go into effect Friday at

midnight, he said Wednesday in an Oval Office address.

The

president scheduled the remarks to lay out his plan for dealing with the rapid

spread of a disease he labelled a “foreign virus” that has led to more than

1,100 infections in the US and ravaged markets. The S&P 500 closed

Wednesday 19% lower than its February high, with every industry down at least

3.9% on the day.

The World

Health Organization earlier Wednesday declared the outbreak is now a pandemic

and urged governments to step up containment efforts as the number of worldwide

cases topped 123,000 and deaths exceeded 4,500.

Trump

claimed that his early action to restrict travel from China and other affected

countries slowed the spread of the virus in the U.S. He said the administration

is “monitoring the situation in China and South Korea,” and that “a possible

early opening” could happen if the situation improves.

The

president asked Congress to take action to deliver paid sick leave to hourly

workers who risk their livelihoods if they stay home. He also recommended that

nursing homes curtail non-medically necessary visits.

Trump said

he is deferring tax payments for certain individuals and businesses affected by

the virus. He said the postponement would provide $200 billion in additional

liquidity.