Major indexes fall as coronavirus cases spike in the U.S.

Yahoo Finance’s Anjalee Khemlani joins the On The Move panel to discuss how the escalation of the coroanvirus has continued its global impact.

Video Transcript

- Anjalee, bring us up to speed on where we stand with the coronavirus.

ANJALEE KHEMLANI: Absolutely. Thanks, Adam. So as we know, the numbers continue to climb as-- as we expect every day now. More than 350,000 cases globally, and in the US, we're seeing a spike. We doubled over the weekend from more than 15,000 to now more than 35,000.

And we know that New York continues to be that hot spot. We've seen Governor Andrew Cuomo really clamp down on what's going on in New York City as we've seen parks really fill up over the weekend. And some concern over that and the lack of social distancing being practiced. So we just found out that Governor Cuomo is in fact, going to accept some sort of park density measures from the city later today. So we'll wait to see what the details are on that.

Meanwhile, more states around the country are clamping down with their shelter at home or some version of that, limiting non-essential businesses. The latest to join that, Michigan and Massachusetts this morning. So really looking at some of these high density areas in-- in the country with you know, some of the largest cities. We know that last week Chicago also joined that pack.

Meanwhile, over the weekend, we saw that President Trump and Vice President Mike Pence, in their remarks during press briefings were talking about just the efforts that are going to be taking place in the hard-hit states like Washington, California, and New York, including field hospitals and temporary alternative locations that will be headed by FEMA in these three states. We also know that the two Naval ships are now being redirected, one to New York and one to Los Angeles.

So really looking to see what's going to happen there and what-- what the necessities will be. And this is to help, of course, ease the burden of the hospitals and the front-line workers as the cases spike. So we're really waiting to see what those numbers will continue to look like.

The US Surgeon General has already warned that this week will be bad as we get those results of those tests. We also know that drive-through testing has in fact, started in some states with the help of FEMA and healthcare workers from the federal level. But we've also seen-- we know that there was this major announcement with Walmart, Target Walgreens, and CVS supposedly on board with these drive-through testing. But this is in fact, not the case.

CVS has opened one location in Massachusetts. Walmart has opened a location in Chicago. But they are not open to the public just yet. They are just for healthcare workers and first responders. So we don't know where that effort is going to be. We've also seen no reports of any public directive testing available just yet, Adam.

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