Policymakers pledge coronavirus relief for households, markets; health officials prepare for the worst

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A person walks along the Las Vegas Strip devoid of the usual crowds after casinos were ordered to shut down due to the coronavirus on Wednesday.

As coronavirus quarantines and lockdowns force much of the United States and Europe to hunker down and workers face pay disruptions, policymakers on both sides of the Atlantic took dramatic new steps to try to reassure worried households and investors.

The European Central Bank announced an $820 billion emergency bond-buying program as President Trump and congressional leaders planned a $1 trillion stimulus package, including special assistance for small businesses and airlines. Trump also signed into a law a bill to ensure paid leave benefits for many Americans. The measures come as some employers cut staff, amid predictions the pandemic could plunge the U.S. economy into its most severe downturn since the Great Depression.

The virus continued to spread globally, with Italy reporting a record 475 deaths in a single day. But new numbers out of China on Thursday may offer a glimmer of hope: The country reported no new locally transmitted cases the previous day for the first time since the deadly outbreak began late last year.

Here are some significant developments:

• The White House coronavirus plan aims to send $2,000 to many Americans, includes $300 billion for small businesses, as markets continue to drop.
• All 34 infections diagnosed in China on Wednesday were in people arriving into the country from abroad, the National Health Commission said Thursday, marking a significant milestone in the country where the virus was first recorded.
• Australia and New Zealand said they would close their borders to everyone except citizens and residents, as confirmed cases worldwide topped 200,000, according to data collected by Johns Hopkins University.
• Reps. Ben McAdams (D-Utah) and Mario Diaz-Balart (R-Fla.) both announced they tested positive for the virus. They are the first confirmed cases in Congress.
• A Japanese region lifted its state of emergency, following criticism that the economic costs of a further shutdown would outweigh the benefits.