March 12, 2020 / 1:29 AM / 24 days ago

Trump lays out U.S. response to coronavirus pandemic, markets extend losses

U.S. President Donald Trump speaks about the U.S response to the COVID-19 coronavirus pandemic during an address to the nation from the Oval Office of the White House in Washington, U.S., March 11, 2020. Doug Mills/Pool via REUTERS

TOKYO (Reuters) - U.S. President Donald Trump on Wednesday laid out his administration’s response to the spread of the coronavirus after the World Health Organization called the outbreak a global pandemic.

Trump said the United States will suspend all travel from Europe to the United States for 30 days. The restrictions do not apply to the United Kingdom.

He also outlined steps to help small businesses and workers affected by the virus. But global financial markets extended early losses.

Following are reactions to Trump’s comments:

JUNICHI ISHIKAWA, SENIOR FX STRATEGIST, IG SECURITIES, TOKYO

“The initial reaction in financial markets shows that even after Trump spoke investors feel they need to avoid risk.

“Trump has outlined what he considered to be tough measures, but movements in stocks, stock futures, and currencies show that this is not enough to ease investors’ concerns. We are in a very difficult situation now.”

Reporting by Stanley White; Editing by Kim Coghill

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