Amid a brutal day for the stock market comes word that the White House is considering a range of relief measures for workers and businesses affected by the coronavirus. Those measures could include paid leave for workers forced to stay home and forego a paycheck, aid for small businesses, and tax cuts for industries affected by a virus-related slowdown (such as hospitality and travel), reports Politico and the Washington Post. A team of advisers was expected to discuss the options with President Trump Monday.
Also possible: federal relief for hard-hit regions of the country. Meanwhile, CNBC reports that Trump is expected to meet with Wall Street executives at the White House on Wednesday to discuss the crisis. Invitations were going out Monday. Meanwhile, the Dow Jones and the benchmark S&P 500 were both down nearly 8% at 2:30pm, per MarketWatch. At one point shortly after 2pm, the Dow was down more than 2,000 points. (The head of the Port Authority of New York and New Jersey has the illness.)