The Dow Jones dropped nearly 3,000 points Monday. For the Dow, the drop is its steepest decline as a result of the fear and panic created by the new coronavirus pandemic.

The decline reflects the fear that the emergency measures taken by the Federal Reserve may not be enough to ward off a coronavirus-induced U.S. recession and it underscores the level of worry among investors since the coronavirus pandemic escalated and disrupted supply chains, sidelined workers and infected tens of thousands of people outside China.

On Monday, the Trump Administration has advised Americans to self-quarantine and avoid congregating in groups larger than ten people in order to flatten the spread of the virus. Furthermore, the CDC recommended organizers to cancel or postpone in-person events that consist of 10 people or more throughout the United States for the next eight weeks. Examples of large events and mass gatherings include conferences, festivals, parades, concerts, sporting events, weddings, and other types of assemblies. These events can be planned not only by organizations and communities but also by individuals.

On Monday, Federal workers are urged to work from home and VP Pence this past weekend urged White House staff to wash hands, practice social distancing, avoid physical contact, clean and disinfect, and “Stay home if you’re sick!”

Pandemic compared to Seasonal Influenza

The seasonal influenza impacted 35 million Americans last year, causing over 490,000 hospitalizations and over 34,000 deaths according to the CDC. Without medicine or a vaccine, coronavirus has the potential to be more widespread and deadly than the flu.

Most individuals who contract COVID-19 will have mild to severe symptoms that resemble a cold or flu and will recover. However, a significant number will also require hospitalization. If these hospitalizations occur rapidly, it will overwhelm U.S. hospitals. For instance, emergency room visits for automobile accidents may be disrupted if our system is overcapacity. Therefore, it is imperative that we must limit the spread.

CDC Recommendations

The CDC has an aggressive response to identify potential cases of the new coronavirus and has activated its emergency operations center. The virus, known as COVID-19, is marked by respiratory problems that are usually mild but can be severe, especially in older adults and in people with underlying health conditions.

CDC guidance includes:

• Get a flu shot.
• Take flu antivirals if prescribed.
• Take everyday preventive actions to stop the spread of germs.
• Wash your hands often with soap and water for at least 20 seconds. An easy way to mark the time is to hum the “Happy Birthday” song from beginning to end twice while scrubbing.
• Use an alcohol-based hand sanitizer that contains at least 60% alcohol.
• Avoid touching your eyes, nose and mouth with unwashed hands.
• Avoid close contact with people who are sick.
• Stay home when you are sick or becoming sick.
• Cover your cough or sneeze with a tissue (not your hands) and throw the tissue in the trash.
• Clean and disinfect frequently touched objects and surfaces.

Additional practical precautions

• Do not travel while sick.
• Seek medical care right away if you have both symptoms of fever, cough and shortness of breath and have either recently returned from China or have direct exposure to others diagnosed with Novel Coronavirus Disease.
• Before going to a doctor’s office or emergency room, call ahead and tell them about your recent travel and your symptoms.
• If someone in your house has testified positive, keep the entire household at home. Do not go to work or school.
• If you are elderly, stay home and away from other people.
• If you have a serious underlying health condition, stay home and away from others.
• Avoid eating or drinking in restaurants, bars and food courts. Use drive-through, pickup and delivery options.
• Do not visit nursing homes or retirement or long-term care facilities unless to provide critical assistance.

Sources:

1. https://www.usatoday.com/story/news/politics/2020/03/16/coronavirus-trump-says-social-distancing-may-needed-through-august/5061517002/
2. https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html