Coronavirus stimulus package, Olympics, stocks poised to extend losses: 5 things to know Monday

Will lawmakers agree on an economic rescue package?

The Senate will hold a procedural vote Monday on a $1 trillion-plus GOP bill that would provide payments of $1,200 to most Americans amid the coronavirus pandemic. Negotiations over the massive economic package hit a snag on Sunday, as Republicans and Democrats sparred over how best to help laid-off workers and shuttered businesses reeling amid the coronavirus pandemic. Senate Majority Leader Mitch McConnell said he would force a second vote on the same bill Monday in the hopes that Democrats would have a “change of heart.” Meanwhile, Pelosi and House Democrats are planning to introduce a competing proposal that would address what they say are serious shortcomings with the GOP plan.

Stocks poised to extend losses after worst week since financial crisis

Stocks were poised to extend losses Monday after posting their worst week since the financial crisis, as investors awaited government action to combat the coronavirus pandemic. On Sunday evening, futures for the Dow Jones industrial average tumbled more than 900 points while Standard & Poor’s 500 futures fell 5%, triggering an automatic shock absorber. The New York Stock Exchange on Monday will move to all-electronic trading in response to the coronavirus pandemic, CNBC reported. It marks the first time the NYSE trading floor has been shuttered independently while electronic trading continued. 

Will the 2020 Summer Olympics be postponed? 

The sports world’s eyes Monday turn to the International Olympic Committee as the countdown to their decision on what to do with this summer’s Olympics is officially on. In the face of the coronavirus pandemic, IOC president Thomas Bach said Sunday that the organization has ruled out canceling the Games outright, but noted it is exploring other ways to stage the Olympics in Tokyo. That could mean postponement from its scheduled July 24 start. Bach said an official decision should be reached within the next four weeks. At least one country, though, will not be attending if the Games are still held this summer: Team Canada announced Sunday its athletes will not be going unless the Olympics are postponed

State Department to evacuate stranded Americans

The State Department has chartered two flights to begin evacuating hundreds of Americans who are stranded in Guatemala on Monday. Guatemala suspended all air travel except for cargo flights on March 16 in an effort to slow the spread of coronavirus. “We do not know when civilian flights will resume in Guatemala after these U.S. government-coordinated charter flights, but urge travelers to continue to check the availability of commercial flight options,” the State Department said. On Sunday, Vice President Mike Pence said the State Department had brought 3,000 Americans home from countries where they were stranded. 

These states are ordering residents to stay home or shelter in place

Cities and states across the country are instituting orders to “stay home” or “shelter in place.” The orders are not “lockdowns.” Residents can continue performing tasks essential to the health and safety of family and pets. It’s still OK to buy groceries, go for a run, walk the dog, pick up medicine, visit a doctor or get supplies to work from home.  

  • Delaware Gov. John Carney ordered residents to stay at home and closed nonessential businesses in the state starting Tuesday at 8 a.m.
  • Louisiana is imposing a statewide stay-at-home order, effective 5 p.m. Monday.
  • Ohio is imposing a statewide stay-at-home mandate, effective 11:59 p.m. Monday.
  • Philadelphia is ordering its residents to stay home, a mandate that goes into effect at 8 a.m. Monday.
  • Missouri’s two largest cities issued stay-at-home orders: St. Louis’ mandate, which also applies to St. Louis County, begins Monday. Kansas City and its metro area goes into effect Tuesday.

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