States Issue Orders to Stay Home
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P2JW093000-6-A00100-17FFFF5178F ****** THURSDAY,APRIL 2, 2020 ~VOL. CCLXXV NO.77 WSJ.com HHHH $4.00 DJIA 20943.51 g 973.65 4.4% NASDAQ 7360.58 g 4.4% STOXX 600 310.77 g 2.9% 10-YR. TREAS. À 19/32 , yield 0.630% OIL $20.31 g $0.17 GOLD $1,578.20 g $5.20 EURO $1.0964 YEN 107.17 Virus’s Sweep Leaves Many Deaths Uncounted What’s More States News Issue Orders Business&Finance To Stay Home ore companies are M cutting contributions they make to employees’ Florida, others call for 401(k) plans to save cash amid the economic crisis spurred distancing as number THE by the coronavirus. A1 of U.S. virus cases CORONAVIRUS Stocks opened the sec- doubles in five days PANDEMIC ond quarter with abruising selloff afterTrump issued Theswiftspread of the awarning about the pan- global coronavirus pandemic Factories slash output as demic.The Dow, S&P 500 JOURNAL spurred five morestate leaders lockdown widens, A2 and Nasdaq all slid 4.4%. B1 REET to issue stay-at-home ordersas Survivors donate plasma Boeing is expected to ST the U.S. surpassed 200,000 LL to aid others, A6 begin offering early-retire- WA ment and buyout packages Stress rises forhospitals THE By Talal Ansari, to itsworkforce,asthe pan- R Phred Dvorak in rural areas, A7 demic takesanincreasing FO and Paul Hannon LPI toll on global aviation. B1 VO CA confirmed cases to nowac- Acollapse of traffic in count fornearly aquarter of Gov.Andrew Cuomo took more showrooms in March led ANCES the global total. steps to limit the spread in to a big decline in U.S. FR SOMBER TOLL: Afuneral washeld in Cigole, Italy,for a76-year-old who died from the virus. Italy’s ThegovernorsofFlorida, NewYork City,wheresome sales for major car compa- official countdoesn’tinclude victims who don’tmakeittohospitals and arenever tested. A18 Georgia, Mississippi, Nevada hospitals areoverflowing with nies in the first quarter. B1 andPennsylvania on Wednes- cases and wherethe total Lendersfor AMC have dayordered residentstostay deaths linked to the virus hired restructuring law- home to trytoslowthe spread topped morethan 1,000 this yers afterthe theater chain Busy Hospitals, Doctors of the virus,leaving adwin- week. shut itscinemas due to the dling number of states without Thestrain on health systems coronavirus pandemic. B1 such measures.InNew York, PleaseturntopageA4 TheFTC is suing Altria to unwind its$12.8billion Caught in Financial Vise investment in Juul, accusing the Marlboromaker of violat- Mass Public Testing ing federal antitrust laws. B3 BY ANNA WILDE MATHEWS the operations of some finan- federal aid package. Trump is set to meet Fri- AND MELANIE EVANS cially struggling hospitals. “There’sthis waiting pe- Gets a Fresh Push daywith the heads of some Coronavirus patientsare riod forthe wave to hit that a of the largest U.S. oil com- HCAHealthcareInc., one of overwhelming hospitals in cit- lot of hospitals aren’t pre- panies to discussmeasures the nation’slargest hospital ies including NewYork,New pared to weather,” said Chas to help the industry. B2 operators, has closed clinics Orleans and Detroit. As others Roades, chiefexecutiveof BY BOJAN PANCEVSKI Korea, Singaporeand Taiwan. and outpatient facilities and bracefor similar spikes,they Gist Healthcare, aconsulting In the U.S.,most officials AT&T tapped ex-Hulu cut employees’ hours. A fam- arealso seeing sharp drop- firm. “Because the revenue Some Western governments remain focused on keeping boss Jason Kilar to lead its ily-medicine practiceinDallas offs in regular doctor visits, hasgone way down, they’re areturning to masstesting for people apart to slowthe vi- WarnerMedia unit. B3 furloughed athirdofits staff. emergency-room arrivals and having to cut expenses in a the newcoronavirus,hoping rus’s transmission, as testing Amajor 48-hospital nonprofit the lucrativesurgeries that way that might makethem that quickly isolating more availability is spotty. World-Wide system plans to put 700work- arevital to most hospitals’ lessprepared when the wave newcarrierscould halt its In Germany, which has so ers on temporary leave. bottomlines. does hit.” spread and allow the gradual far tested nearly one million Amid apandemic that has Hospitals areburning Governorsinatleast 17 reopening of stores,offices people,government advisers Thespread of the corona- sickened thousands in the through cash even as non- states have halted or urged and factories. recommended last week that virus spurred the governors U.S.,manyhospitals and doc- profit operatorshaveseen hospitals to stop electivepro- With the economic cost of capacity be raised to up to of Florida, Georgia, Missis- tors aregrappling with an un- their reserves in investment cedures in recent weeks.Hos- lockdowns rising and progress 200,000 testsaday,inare- sippi, Pennsylvania and Ne- expected side effect: afinan- portfolios dented, spurring pitals themselves have can- slowintamping down infec- port to Chancellor Angela vada to issue stay-at-home cial squeeze that could credit agencies to put the sec- celed surgeries to clear space tions,officials and scientists Merkel seen by TheWall orders, as the U.S. surpassed depletethe health-carere- toronanegativeoutlook—de- forexpected coronavirus pa- in Europe are advocating the Street Journal. 200,000 confirmed cases. A1 sources needed to meet local spiteanexpected influx of tients and preservescarcepro- broad-testing approach, fol- “By far the most important Manyhospitals and doc- surgesincases and threatens moneyfromanewly passed PleaseturntopageA7 lowing the example of South PleaseturntopageA6 tors in the U.S. arefacing a financial squeeze as they battle the coronavirus. A1 Scenes From aWorld Locked Down China Asserts Its Claim to Global Some Western govern- mentsare turning to mass testing amid the pandemic, Leadership,Mask by Mask hoping that quickly isolating morenew carrierscould halt the advanceofthe virus. A1 Italy is undercounting Beijing heavily aids hard-hit lands like Italy, draws contrast with U.S. thousands of coronavirus deaths in the country’s worst-hit areas,aWall Street BY PHILIP WEN AND DREW HINSHAW and cast China in the role of global savior. Journal analysis shows. A18 Chinese President Xi Jinping, speaking by New York City’s Times Square stands video link to other leaders of the Group of Trump said he was empty, a testament to the threat the corona- 20 nations last week, said his country had looking at whether to virus poses to the biggest U.S. city. made tremendous sacrifices to curtail the vi- ground some domestic air Meanwhile, 7, 500 miles to the east, young rus’s spread at home and would now help travel between cities that people celebrate the end of quarantine over others. are virus hot spots. A4 hotpot in a crowded restaurant in the Chi- China’s French Embassy put it in starker Fauci has been given a nese city of Chengdu. terms in a tweet storm. “When the epidemic security detail after the HUP And in Fujian province, a team of Chinese started to explode everywhere, it was China AT member of the White CO virus experts heads to the airport for a char- who the entire world asked for help, and not House coronavirus task tered flight to help an overwhelmed Italy. the United States, the ‘beacon of democ- CHEL The three images, posted close to each racy,’” the embassy said. “It is China who force received threats. A4 RA People in quarantine and lockdown share stories and photos other on the Twitterfeed of China’s official lent a helping hand to more than 80 nations. U.S. intelligencesuggests about how the pandemic has affected their way of life. A12-13 Xinhua News Agencyone day last week, en- PleaseturntopageA10 that Iran or Iran-backed capsulate a sweeping effort by the Commu- forces areplanning apoten- nist Party to craft the story of the pandemic China workers return, but demand lags........... A9 tially serious attack against U.S. military personnel in Iraq, officials said. A3 TV Captions The FDA ordered that Struggling Companies heartburn drug Zantac and other ranitidine generics be Hit [Chord] PerIDC’s pulled from the market. A2 Cut 401(k) Payments With Viewers latest annual marketshareresults, NOTICE TO READERS BY ANNE TERGESEN The World Health Organiza- iii to later this year,according to AND DIETER HOLGER Oracle is the #1 tion has said it is safe to aspokesperson. handle newspapersduring Fans hear just fine Lawyersand consultants Enterprise Applications vendor in the coronavirus pandemic. Themarket’sdecline has al- who specializeinemployee The Wall Street Journal’s but prefer to read ready damaged retirement-ac- benefitssaid companies across printing plants anddelivery count balances.Now,more industries have sought advice North America services,though, aretaking along anyway companies arecutting the con- on howtosuspend or reduce precautions,frequently tributions they maketoem- their paymentstoworkers’ re- based on marketshareand revenue. cleaning equipmentand fa- BY JOHN JURGENSEN ployees’ 401(k) plans to save tirement plans in recent days. cilities while reducing human cash in the economic crisis Some employers have flexibil- As he recently dug intoaN sparked by the coronavirus. itytoquickly suspend or re- O S contact with the newspaper. A unfamiliar drama, California Amtrak,La-Z-BoyInc., re- ducetheir 401(k) matching R L Adigital version of the print E I A N edition also canbeviewedat native Adan Francorelied on tailer MattressFirm Inc., and contributions.But manyare re- S theclosed captioning at the travel tech companySabre quired to take certain steps C F T S https://www.wsj.com/itp. O U A L R bottomofhis TV screen to help Corp.are among the firstinaN first, including notifying em- I P M C T makesense of the characters expected wave of businesses ployees of the change. E E S CONTENTS Markets..................... B11 andtheir foreign argot. suspending or reducing match- Compared with 2008,“a Banking &FinanceB10 Opinion.............. A15-17 Business News.