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Coronavirus live updates: millions of people blocked in Italy; China promotes the success of containment while Xi visits Wuhan

The global meltdown caused by the coronavirus epidemic seems to be accelerating. Fears of an impending pandemic, coupled with the biggest drop in oil prices since the United States entered the 1991 Gulf War, filled global markets on Monday. According to one estimate, the 500 richest people in the world lost $ 203 billion combined in the first 96 minutes of trading in the United States. Economic analysts cite an increasing number of signs indicating the likelihood of an imminent recession in the United States.

Investors aren’t just “irrationally panicked,” says Sina Kian, vice president of the Blackstone group, an investment and consulting firm, in a Politico policy. “They are concerned about the human and economic costs of the virus itself. And part of the market analysis is its confidence, or lack thereof, in the government’s ability to manage the crisis – to act forcefully, stay ahead of the crisis and guide us. back “.

The focus falls exactly on President Trump, who in the face of a spiraling crisis continues to blame his imagined enemies. His skepticism about the extent of the threat to public health, however, runs counter to growing warnings from officials and epidemiologists about the seemingly relentless spread of the virus across the United States and other parts of the world.

No place in the West has felt the effect of the emergency more acutely than Italy. Yet, so far, Italy’s suffering has fueled mainly continental grievances, not solidarity.

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