In the US, the epicenter of the virus outbreak in the world, a major shock came from another front on Monday, when oil prices crashed into negative territory after the coronavirus lockdowns around the globe squelched demand.
The President of the United States of America, Donald Trump, on Tuesday, said that he is all set to sign an Executive Order that will 'temporarily suspend' immigration into the United States. Trump said that he was taking this step "in light of the attack from the Invisible Enemy" and also to protect the jobs of the American citizens.
"In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States! (sic)," Donald Trump tweeted this morning.
In the US, the epicenter of the virus outbreak in the world, a major shock came from another front on Monday, when oil prices crashed into negative territory after the coronavirus lockdowns around the globe squelched demand.
Soon after the slump in oil prices, Trump had made an announcement to add as many as 75 million barrels of oil to the nation's strategic petroleum reserve.
The unprecedented collapse of oil prices, which traded in negative territory for the first time ever, is sure to fuel calls for a quicker unshackling of the global economy. US demonstrators on this day rallied in more state capitals demanding the reopening of the world's biggest economy.
The question of when to lift stay-at-home orders -- and thus help mitigate the devastating economic effects of the global virus crisis -- has been at the forefront for many countries, news agency AFP reports.
Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus. That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.
Governments across the world are now debating how and when to ease lockdowns that have kept more than half of humanity -- 4.5 billion people -- confined to their homes and crippled the global economy.
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