Coronavirus fears lead to cancelled boat shows around the globe

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The Progressive Saltwater Fishing Expo in Edison, N.J., was among the shows that will be cancelled due to coronavirus.

The Progressive Saltwater Fishing Expo in Edison, N.J., was among the shows that will be cancelled due to coronavirus.

The National Marine Manufacturers Association cancelled the Progressive Saltwater Fishing Expo in Edison, N.J., amid new recommendations by the Centers for Disease Control following a coronavirus outbreak in the region, and several European boat shows also shut down early or were cancelled.

The 2020 Les Nauticales boat show in La Ciotat, France, slated to be held Saturday through March 22, was cancelled after new decisions by the French government, organizers said on their Twitter account and website on Wednesday.

The Stockholm International Boat Show was slated to run through Sunday, but was forced to close early due to the convention center shutting down.

“Stockholmsmässan will close down all events and fairs with more than 500 visitors until further notice,” wrote the convention center on its website. “This is due to the new recommendations of the Public Health Agency of Sweden’s recommendations to limit public gatherings with the aim of restricting the risk of spreading the virus COVID-19. Safety and health remains the highest priority and this decision is a precaution to protect the society.”

The Oslo Boat Show, scheduled for March 18-22, was also cancelled, according to the show's Facebook page.

At this time, the NMMA is moving forward with the Northwest Sportshow in Minneapolis, Minn., on April 2-5.

President Trump addressed the nation on Wednesday night to allay financial fallout from the coronavirus fears after the Dow dropped into bear territory — ending a historic 11-year bull run.

The S&P dropped into bear territory today; the indexes are now down more than 25 percent from record highs last month, according to National Public Radio. That plunge occurred just after Trump announced a travel ban.

The Dow Jones Industrial Average opened down more than 1,600 points. The S&P 500 also fell 7 percent. That followed a nearly 6 percent plunge in the Dow on Wednesday, when the blue chip index entered a bear market, defined as falling 20% from its peak. The S&P 500 is now also in a bear market, ending an 11-year winning streak.

In addition to a travel ban, President Trump announced measures to overcome economic disruptions, including a $50 billion program to provide low-interest loans to small businesses affected by the virus.

Democrats unveiled a stimulus package that included expanded unemployment reimbursement for states, extra money for food security for low-income children, and federally-funded family and sick leave for people affected by the virus. 

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