US President Donald Trump arrived in Davos on Tuesday for the annual WEF forum, where he was to give a keynote speech just hours before his impeachment trial kicks into high gear in Washington.
Trump’s Marine One helicopter touched down in the picturesque Swiss ski resort shortly ahead of his scheduled speech to the World Economic Forum, which this year is focusing on climate change.
He was also due to meet separately with the president of Iraq, Pakistan’s prime minister and the head of the European Union executive body.
Meanwhile in Washington, Trump’s impeachment enters a new phase in the Senate with legislators debating the format for the trial.
Although Trump’s Republican party holds a majority in the Senate and is almost sure to acquit him on charges of abusing his power and obstructing Congress, the impeachment adds volatility to an already tense 2020 presidential election.
Trump returns to the White House on Wednesday.
All US Navy ships in the Pacific near countries with coronavirus ordered to self-quarantine for 14 days
CNN National Security reporter Ryan Browne tweeted Thursday that the U.S. Navy has ordered all of its vessels in the Pacific that have been near countries with COVID-19, also known as the coronavirus, "to remain at sea for at least 14 days before pulling into another port in order to monitor sailors for any symptoms of the virus."
Health experts have said that the two-week period should give enough time for infected people to become aware that they are sick.
The highly-contagious disease has spread very quickly in South Korea and California after public exposure. The first person verified with "community-spread" transmission was identified just outside of Sacramento, California.
Markets are ‘getting ready for something worse’ amid coronavirus chaos: Expert
On Thursday's edition of CNN's "The Situation Room," business analyst Richard Quest said that the United States is not likely on track for a recession at the moment — but that if the coronavirus outbreak explodes within the country, it could destabilize the economy into a tailspin.
"The 1,190-point drop today, the largest in the history of the New York Stock Exchange," said anchor Wolf Blitzer. "Over the past week, the Dow Jones has dropped 3,581 points since last Thursday alone ... could the U.S. economy now go into recession if the coronavirus spreads here in the United States?"
"Right, the qualifications of that is the last bit of your question: If it spreads in the United States," said Quest. "At the moment, there's no reputable economist that is forecasting a global recession or a U.S. recession if the status quo is maintained, i.e., periodic expansions of this with just a few more cases. However, if there was a full-scale outbreak and you start looking at large parts of the U.S. economy being shut down, no question about it. A recession would be on the cards."
Trump tried to reassure America — and the stock markets had the biggest one-day drop in history
In a muddled, dishonest, rambling news conference from the White House press briefing room President Donald Trump for over an hour talked to reporters Wednesday evening about coronavirus, in an attempt to stave off three days of market near-collapse. He lied. He twisted the truth. He displayed little grasp of basic facts. He didn't let the experts run the show.
He instilled no confidence Wednesday night. In fact, the DOW futures dropped as Trump began speaking:
Dow Futures dropped when Trump said the market fell 2k points because of the Dem debate pic.twitter.com/cvbviB2l9a