Italy has taken the most drastic steps in Europe to slow the spread of the coronavirus, as nearly 4,000 people have been infected.
Schools and universities are closed until at least March 15, fans can’t attend soccer matches and scores of citizens are being urged to work from home.
The death toll spiked on Thursday, as Italy’s Civil Protection Agency reported an additional 41 deaths due to the respiratory illness—taking the total to 148.
“The atmosphere is a bit unreal because it’s something in the middle of going back to business-as-usual, and legitimate concern,” Antonio Ambrosetti, CEO of Italian business Ruling Companies, told CNBC.
Amid fear of a recession as tourism continues to plummet, the country pledged 7.5 billions euros to address the health emergency.
In Italy’s Lombardy region, the epicenter of the outbreak, officials are instructing people to stay away from the hospitals unless it’s absolutely necessary.
Infections have spread to every region in Italy, and new cases spiked 50 percent on Sunday, according to Quartz.
The Centers for Disease Control have urged U.S. citizens to avoid unnecessary travel to the country; however, the White House has not declared a travel ban.
President Trump on Friday signed an $8.3 billion emergency spending bill to combat the coronavirus as the number of cases of infected people in the U.S. passed 200 the day before.
Return to ISDA for continuing updates on the coronavirus in Italy.