As U.S. Tries to Slow Coronavirus Impact, Europe Hunkers Down

Metropolitan areas, states and Washington sought means to mitigate the blow of the novel coronavirus as corporations closed, the European Union prepared to shut its borders, and fears of a pandemic-induced economic downturn held markets on edge.

U.S. Treasury Secretary Steven Mnuchin is pitching Senate Republicans on a $1 trillion stimulus approach that would include roughly $250 billion in immediate payments, according to a White Home formal. The Federal Reserve also took steps to reduce further strains in brief-term business financial debt markets. The moves…