US stocks have their worst day since 1987: We've entered a "bear market." From the New York Times:
The S&P 500 closed down about 9.5 percent, its biggest daily drop since the stock market crashed in 1987, on what came to be known as Black Monday. The decline has left stocks in the United States firmly in a bear market—a term that signifies a decline of 20 percent from the most recent highs.
For the Dow Jones industrial average, the drop of 10 percent was also its worst since the 1987 stock market crash.
Local restaurants and small business say coronavirus has hit them "like a tsunami...like a wildfire": Everything is shutting down quick and fast. (Even Canlis!) Good luck to everyone. Take care of each other.
Okay, you know what time it is... Let's recap on today's big coronavirus stories.
• The Department of Health (DOH) has recorded 457 confirmed cases statewide with 31 deaths, up from 366 cases and 29 deaths yesterday, according to a DOH spokesperson Thursday evening.
• The death toll in King County has risen to 27. The state is behind in updating their numbers today, but the statewide death toll is at least 31 people, given four other deaths in nearby counties we already knew about.
• Governor Jay Inslee has closed all schools, both public and private, in King, Snohomish, and Pierce counties, through April 24.
• Joe Biden told the country today that "this virus laid bare the shortcomings of the current administration" and "public fears are being compounded by a pervasive lack of trust in this president." You can watch his speech here and you can read his plan to combat coronavirus here.
• Biden's speech was in stark contrast to President Donald Trump's wheezing, racist, and confused speech to the nation last night, in which he seemed to think more travel bans could stop the virus that is already here and spreading.
• Trump may also now ban travel to Washington State.
• Coronavirus has local leaders rushing to expand housing for the homeless.
• "The stock market suffered its worst one-day slide in over three decades."
• Tests show the coronavirus can live in the air for several hours and live on surfaces for up to three days.
• Social distancing is profoundly important. Without it, an estimated 400 people could die from coronavirus in our region by April 7.
• Canadian prime minister Justin Trudeau is self-isolating over coronavirus fears.
• This is very bleak:
Coronavirus burial pits so vast they’re visible from space.
Iranian authorities began digging a pair of trenches for victims just days after the government disclosed the initial outbreak. https://t.co/3S4dgLisbu pic.twitter.com/UJwEWEAdhi
— The Washington Post (@washingtonpost) March 12, 2020
More updates here.
The CDC director agreed that all Americans will receive free coronavirus tests: He was under oath. Although, it remains to be seen if the tests will truly be free. Testing, unfortunately, is only the beginning of our COVID-19 problems.
I assume we're going to be hearing a lot of stories like this, but today everyone couldn't shut up about how Trump came into contact with another person who tested positive for coronavirus. He's not planning on getting tested or going into self-quarantine.
A question I know you're just dying to get answered: How will all the chaos in the world impact the price of bitcoin?
Not everyone is hurting in this economy: The demand for Microsoft, Google, and Zoom's work-from-home software is booming. "Zoom stock is up more than 20 percent in the last month, a major outlier as the stock market as a whole is plummeting and fears of a recession are on the rise," writes Recode.
I don't know why you'd still be traveling to Disneyland for a vacation: But, if you were, it's closed.
Disney is also pushing back its release of the Mulan remake: It was set to hit North American theaters on March 27. "Disney is looking into a new release date for all of the titles later this year," reports The Hollywood Reporter.
FILL OUT THE CENSUS: There's an online option. It's pretty simple to fill out, but it does take some time. Right now in the mail, you should have received a 12-digit census ID. Use that to fill out the online form! The deadline is April 1.
Sorry, Dragons: The game is up.
Joy Behar is taking a break from The View... because of coronavirus concerns. “I’m in a higher risk group because of my age, but I’m perfectly healthy,” Behar said. “I don’t look my age, but I’m actually up there. The number makes me dizzy.” So it doesn't seem like she has it, but she's worried! And she should be!
Watch these monkeys fight over a single banana: That's us fighting over toilet paper.