Italian Prime Minister Giuseppe Conte announced Monday that he will be signing a decree that expands the lockdown of the Lombardy region of Italy to the entire country after nationwide COVID-19 deaths jumped by 97 on Monday to 463.
“There won’t be just a red zone,” Conte said, referring to the quarantine order he signed over the weekend that applied to parts of Northern Italy that encompassed roughly 16 million people. “Stay at home.”
Italy reported a surge of 1,807 confirmed cases nationwide, bringing the total number of those infected to at least 9,172 confirmed cases. 60 million were told not to travel; Schools and universities all over the country will remain closed until April 3rd.
Italian officials previously announced a lockdown of Northern Italy, which is the part of the country hardest hit by COVID-19.
Italian Lockdown Overview:
- Public gatherings banned
- Sports events suspended
- Schools, universities closed
- Cinemas, theaters closed
- Discos, pubs closed
- Funerals, weddings banned
- Movement only to work & emergency
The news comes after the U.S. stock market dropped over 2,000 points, partially because of coronavirus-related uncertainty and supply chain problems.
Shares of U.S. banks took a huge hit Monday after a collapse in oil prices combined with fears over the Coronavirus sparked fears that financial institutions could be in for trouble. Last week, several U.S. banks announced that they were putting emergency procedures in place in case of a largescale outbreak inside the United States.
Shares of Bank of America Corp. BAC -14.70% fell 15.3% to $22 after the market opened, while JPMorgan Chase JPM -13.55% & Co. dropped 11.7% to $95.39. Midday, Bank of America and JPMorgan were down about 13% and 12%, respectively.