NY STOCK EXCHANGE FLOOR REOPENS
NEW YORK: From the floor of the New York Stock Exchange to the Church of the Nativity, numerous iconic world landmarks reopened on Tuesday as the global economy eased its way out of lockdown.
Two months of shutdowns decreed to slow the spread of the coronavirus pandemic have dealt businesses a devastating blow, particularly in trade, travel and tourism.
But Wall Street indexes surged higher in early trading after trading resumed on the symbolic NYSE floor — it has continued electronically — for the first time since mid- March, to US President Donald Trump's delight.
"Stock Market up BIG, DOW crosses 25,000. S& P 500 over 3000. States should open up ASAP. The Transition to Greatness has started, ahead of schedule," he tweeted.
Trump has been urging state governors to roll back lockdown measures, despite the US virus death toll rising to 98,223, the world's highest.
Other major economies in Asia and Europe took action earlier and have past the worst of the epidemic, but even they are easing slowly out of lockdown.
For many countries, including hard-hit Italy and Spain, the summer season will be key to saving what is left of the tourism industry. But the novel coronavirus is continuing its spread.
On Tuesday the number of
Floor traders resume their work after the NYSE closed for more than two months due to the pandemic.
confirmed infections worldwide passed the 5.5 million mark, according to an Agence FrancePresse tally of official sources.
The number of declared cases in the world has doubled in a month and more than 1 million new coronavirus disease (Covid-19) cases have been registered in the last 11 days. More than 346,000 deaths have been recorded worldwide.
Asian trading hub Singapore warned Tuesday its economy could shrink by as much as 7 percent this year. European Union leaders, meanwhile, will announce an unprecedented trillion-euro recovery package on Wednesday.
The virus has also had an immense political impact, and not just on Trump, who faces a difficult reelection battle in November and has a deepening rift with
China, where the new strain of the disease was first discovered.
British Prime Minister Boris Johnson's government is in crisis and a minister has resigned after top Downing Street aide Dominic Cummings refused to apologize for driving his family across the country despite the lockdown.
But there were also signs of hope at some of the world's best known and symbolic destinations.
In Bethlehem, the Church of the Nativity — built on the spot where Christians believe their savior Jesus was born — reopened its doors after more than two months.
Once inside, Greek Orthodox Bishop Theophylactos kissed an icon while a priest scattered holy water in the grotto where Jesus is said to have rested in a manger.
Palestinian authorities believe the Covid-19 virus came to Bethlehem
with a group of Greek tourists — such stories have devastated the travel industry worldwide.
Nevertheless, in Italy — once the global epicenter of infections after the virus spread to Europe from China — the site of a previous natural disaster also reopened to visitors.
The ruins of the Roman city of Pompeii, destroyed by a volcanic eruption in 79 AD and preserved through the centuries in a layer of ash, attracted 4 million visitors last year.
It has now reopened, but foreign visitors are still prohibited to travel to Italy until next month, and locals from the Naples region found the site deserted.
"It's only us guides, and journalists," sighed 48-year-old Valentina Raffone, noting a "sense of emptiness, of sadness" as if after a disaster on the scale of the city's end.
Italian foreign minister Luigi di Maio said he is working with EU colleagues to agree on June 15 as a coordinated day for member states to reopen their borders and tourist regions. "We should save what we can save of the summer, to aid our entrepreneurs," he said.
Beyond tourism, the European Union is attempting to launch an unprecedented trillion- euro economic stimulus to speed the recovery from the pandemic.