SINGAPORE/WASHINGTON/TOKYO/ROME: US President Donald Trump declared a national state of emergency as the World Health Organisation named Europe the new epicentre of the coronavirus, with countries sealing borders, shutting schools and cancelling events in a frenzied attempt to slow the ballooning pandemic.
Wall Street stocks rallied Friday as financial markets endured a rollercoaster ride after a week of spectacular losses triggered by fears that the deadly outbreak will lead to a global recession.
The overall death toll jumped to more than 5,000, including nearly 1,500 in Europe, with total infections topping 140,000 internationally, according to an AFP tally based on official sources. Trump said the US would buy large quantities of crude oil for strategic reserves and waived student loan interest during the crisis, stressing that the"next eight weeks were critical."
The outbreak reached new heights with several public figures from Hollywood actors to politicians and even the Canadian first lady catching the infection. Beijing reported just 11 infections on Saturday, and for first time since the start of the outbreak the majority of them were imported cases from overseas.
The new measures came after Trump this week banned all travelers from mainland Europe for 30 days, prompting a swift rebuke from Brussels which is scrambling to shore up the EU economy.
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