P2JW098000-6-A00100-17FFFF5178F ****** TUESDAY,APRIL 7, 2020 ~VOL. CCLXXV NO.81 WSJ.com HHHH $4.00 DJIA 22679.99 À 1627.46 7.7% NASDAQ 7913.24 À 7.3% STOXX 600 320.58 À 3.7% 10-YR. TREAS. g 28/32 , yield 0.675% OIL $26.08 g $2.26 GOLD $1,677.00 À $43.30 EURO $1.0793 YEN 109.22 U.S. Deaths Cross 10,000 in Struggle to Control Contagion Credit What’s News Markets Regain Business&Finance Footing ey parts of the U.S. Kdebt markets are func- Fed’s efforts begin to tioning again, a sign the Federal Reserve’s extraor- reduce disruptions in dinary steps are easing a the financial system; credit-market crunch. A1 the Dow leaps 7.7% U.S. stocks rallied, with the Dow industrials surg- BY SAM GOLDFARB ing 1627.46points, or 7.7%, AND ANNA HIRTENSTEIN and the Nasdaq and S&P 500 posting gains of 7. 3% Keypartsofthe U.S. debt and 7%, respectively. B1 marketsare functioning again, Trump said the govern- asign the Federal Reserve’s ment would buy nearly 167 extraordinarysteps areeasing million masks from 3M over a credit-market crunch. the next three months,resolv- S Investorssaid the Fedhas ingadisputewith the firm. A4 reduced disruptions in the $17 PRES trillion U.S. Treasurys market Agrowing scarcity of oil- TED that had sent shock waves storagespace is driving some CIA SO through the financial system. of the biggest crude pro- AS Largebusinesses such as Ora- ducers to negotiate a truce Y/ GA cle Corp.and CVSHealth Corp. in the Saudi-Russian fight are borrowing money at a re- over market share. B1, B11 ERIC SAFETY CHECK: A medical worker has her temperature takeN at a control point on a covered footbridge before entering cord pace. Some lower-rated AutoinsurersAllstate the Dell SetoN Medical Center at the University of Texas in Austin on Monday. The U.S. death toll surpassed 10,000. A4 companies areissuing bonds and American Family are again. And increased demand sending refunds to policy- formortgagebonds is starting holders, citing asharp drop to pull mortgagerates lower in accident claims as people U.K. Leader Sent to Intensive Care afterthey unexpectedly rose hunker down at home. B1 last month. On Monday, the DowJones Thecommittee that helped BY MAX COLCHESTER old prime minister wascon- Monday, Mr.Johnson tweeted Industrial Averagerose broker a $13.5 billion set- scious when he waswheeled that he was “iN good spirits.” 1,627.46 points, or 7.7%, to tlement forCalifornia wild- LONDON—U.K.Prime Min- intothe intensive-careunit of Theprime minister is the THE 22679.99. Gains were broad, fire victims in PG&E’sbank- ister Boris Johnson, fighting a acentral London hospital at firsthead of government lifting all 30 stocks in the Dow ruptcy case said it no longer CORONAVIRUS serious coronavirus infection, around 7p.m. local time on known to have been infected industrials and all 11 sectorsiN supportsthe current deal. B1 wasadmittedtothe intensive- Monday,asteptaken in case with the newvirus,which PANDEMIC the S&P 500.Shares of beaten- JPMorgan’s Dimon said care unit of aLondon hospital, he needed to be put on aven- erupted in China latelast year. down retail and travel compa- the bank caN handle what leaving his country’s leader- tilator, an official said. His hospitalization risks creat- nies Kohl’sCorp., Nordstrom he expects to be a “bad re- ship in question at amoment Mr.Johnson, who tested ing aleadership vacuum as Touristtowns plead with Inc. and Carnival Corp. & PLC cession” brought on by the of deep crisis as the virus’s positivefor the newcoronavi- Britain faces its worst health outsiders to stay away,A3 helped lead the climb. coronavirus crisis. B10 spread accelerates. rusnearly two weeks ago, had crisis in more than a century. Noveltactics keep air traffic Marketsoverall have growN As Mr. Johnson’s condition led Britain’sresponse to the Thevirus outbreak is ex- morestable recently,sup- Samsung Electronics controlcenters open, A5 worsened, he deputized For- pandemic while isolated in his pected to peak in the U.K. in ported by the Fed, the $2 tril- delivered a forecast for eign SecretaryDominic Raab official residencenextto10 the coming week and the gov- Jump in egg prices lion economic-rescue package first-quarter operating to runthe government, a Downing Street. He washospi- ernment has been grappling pressures grocers, B1 passed by Congressand some profit that exceeded ana- spokesman said. The 55-year- talized on Sunday. Earlier on PleaseturntopageA10 PleaseturntopageA8 lysts’ expectations. B4 Airbnb said it is raising $1 billion in funding from Silver Lake and Sixth Street Searchfor Coronavirus Cure Patient GuidelinesSow Partners, as the firm sees a global hit to itsbusiness. B2 Confusion on Recovery World-Wide AdvancesFast, the Virus Faster BY DANIELA HERNANDEZ around the globe,and even U.K. Prime Minister AND MIKE CHERNEY within countries. Johnson, fighting aserious Researchers have a host of projects—new drugs, old drugs, vaccines Adding to the uncertainty, coronavirus infection, was AfterRachel Wall described some guidelines differ depend- admittedtothe intensive- Fordrugcompanies,thereissuddenly research agencies,with hundreds moretrials her coughing spells,extreme ing on the severity and type of care unit of aLondon hospital, only one priority: the coronavirus. planned. Researchershavesqueezedtime- fatigue and fevers,her doctors case.Authorities in Australia leaving his country’slead- Morethan 140experimental drug treat- lines that usually totalmonths intoweeks or told her to self-quarantine in have three sets: forpeople who ership in question. A1, A10 mentsand vaccines forthe coronavirus are even days. her Denverhome for10days have mild cases and recover in development world-wide,most in early “Wehavenever gone so fast with so and until she wasfever-free completely at home,for people TheU.S.death toll from manyresourcesinsuch ashort time frame,” for72hours. In Cincinnati, who have been hospitalized the coronavirus topped said Paul Stoffels, chief scientific officer of Elizabeth Edwards wasadvised and forhealth workers. 10,000 at the start of aweek By Joseph Walker, Peter Loftus that officials predicted would and Jared S. Hopkins Johnson &Johnson. to stay home for14days and Thevariation is sowing con- Even so,for most treatmentsand vaccines until she wassymptom-free for fusion about what patients be America’s most difficult stages,including 11 already in clinical trials, it will be midsummer beforehuman testing three days. should do and when they caN yet during the crisis. A4 according to Informa Pharma Intelligence. reveals whether they aresafetotake, not to In the Netherlands,KeviN be considered well. It all adds Asian nations that had Counting drugsapproved forother dis- mention if they work.J&J is excited about a Toms also gota14-daydirec- to their anxiety,they said. avoided harsh restrictions amid the pandemic are eases,thereare 254 clinical trials testing vaccine prospect but won’t be able to start tive.InAustralia, AmyMcKen- “We’re in uncharted terri- treatmentsorvaccines forthe virus,many testing it in humans till September.Research zie’shome isolation could last tory.Wereally don’t know. tightening controls afternew spearheaded by universities and government PleaseturntopageA12 even longer:She needs two con- That’sthe problem,” said John infections and lax obser- secutivenegativetests—and Gumina, chairman of family vanceofvoluntarycurbs. A9 she’ll be eligible to gettested medicine at Jersey ShoreUni- Theacting Navy secretary Cardinal’sConviction Overturned only aftersymptoms aregone. versity Medical Center in New apologized forprofanity- Navy Head Because dataonCovid-19 Jersey.Herecommends a14- tinged remarks over the loud- Australia’shighest progression is scant and dayquarantine,but sometimes speakersofthe USS Theodore Apologizes court acquitted knowledgeabout the virus that “evenatthat point, the pa- Roosevelt in which he blasted former Vatican causes it is swiftly changing, tientsare feeling pretty funky,” the ship’sex-commander. A1 To Captain financechief guidelines about when patients he said. Trump’s recent urging Cardinal George Pell in recovery cansafely resume Ms.Wall’s10-dayquarantine of child sex-abuse some aspectsoftheir pre-coro- ended April 5, but the 32-year- that even those without cor- S charges, overturning navirus lives vary greatly PleaseturntopageA12 onavirus symptoms take a He Berated mix of antimalarial and anti- PRES aconviction that bacterial drugsdefies pub- TED has divided In an about-face, acting CIA Catholics around lic-health experts’ advice. A5 Navy SecretaryThomas Modly SO the world. The 78- Wisconsin’selection will apologized Mondaynight for AS year-old prelate, proceed on Tuesdayafter con- his profanity-tinged remarks NBILL/ shown lastyear, servativemajorities on the over theloudspeakersofthe OW wasserving asix- BR federal and statesupreme USS TheodoreRoosevelt, in Y year prison courtsblocked Democratic which he called the aircraftcar- AND sentence. A11 effortstoextendballoting. A2 rier’s former commander stu- Australia’shighest court pidornaivefor writing and Manythings acquitted former Vatican distributing amemo about a finance chief Cardinal coronavirus outbreak. George Pell of child sex- Bubbe HasEntered the Meeting: have changed. abuse charges, overturn- By Nancy A. Youssef, ing his conviction. A11 Ben Kesling, The Virtual Passover Seder Begins Lucy Craymer Our commitment The U.S. branded a Rus- and Gordon Lubold iii sian white-supremacist group and its top members Theremarks to crew mem- This sociallyisolated holiday, Jewish to youhasn’t. as global terrorists.