Market swings and a wave of cancellations as virus spreads
WASHINGTON (AP) — Seven weeks after the first case of COVID-19 was confirmed in the U.S., the outbreak is now classified as a pandemic and it's doing widespread damage to critical economic sectors of the global economy. Airlines are cutting capacity, people are working from home, major public events that raise millions of dollars for local communities have been canceled. The NCAA will hold its annual March Madness basketball tournament without fans in stands and CME Group says it will shutter its Chicago trading floor at the close of business Friday. The Associated Press is publishing a running tally of the effects of the coronavirus on people, businesses, and the economy.
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