As U.S. Tries to Slow Coronavirus Impact, Europe Hunkers Down

Towns, states and Washington sought approaches to mitigate the blow of the novel coronavirus as businesses shut, the European Union prepared to shut its borders, and fears of a pandemic-induced recession retained marketplaces on edge.

U.S. Treasury Secretary Steven Mnuchin is pitching Senate Republicans on a $1 trillion stimulus strategy that would involve approximately $250 billion in direct payments, according to a White Property official. The Federal Reserve also took actions to avoid further more strains in short-time period commercial debt marketplaces. The moves…