Millions holed up at home as U.S. routines shift profoundly

CHICAGO (AP) — Millions of Americans began their work week holed up at home Monday against the coronavirus outside their doors, as the escalating outbreak shifted the nation’s daily routines in ways never before seen in U.S. history.

As wide swaths of the economy began shuddering to a halt, the financial markets opened with stocks dropping on Wall Street by nearly 10 percent, triggering an automatic 15-minute halt to trading. That came despite emergency Federal Reserve action late Sunday that cut the key interest rate to near zero.

The best-case scenario for many investors now is that the economic shock will be steep but short, with growth recovering later this year as stores and businesses open back up. Pessimists, though, are preparing for a longer haul.

The U.S. surgeon general, meanwhile, said the number of coronavirus cases in the United States has reached the level that disease-battered Italy recorded two weeks ago — a signal that infections are expected to rise in America.