This summer's Tokyo Olympics fell victim to the coronavirus crisis Tuesday as the death toll mounted rapidly in Europe and the United States, while American lawmakers closed in on a nearly $2 trillion deal to blunt the outbreak's economic damage.
The International Olympic Committee postponed the Olympics until 2021 on the recommendation of Japanese Prime Minister Shinzo Abe, adding the games to the long roster of sports events disrupted by the deadly outbreak. In Washington, top congressional and White House officials said they expected to reach a deal Tuesday on a measure to shore up businesses and send relief checks to ordinary Americans. Stocks rallied around the world on the news, with the Dow Jones Industrial Average surging more 1,100 points, or over 6 percent, in early trading.
There have been more than 46,000 infections and 530 deaths in the U.S. as the virus continues to spread. In New York, now one of the world's biggest virus hot spots, authorities rushed to set up the thousands of hospital beds they will need in just weeks to protect the city's 8.4 million people. In Italy, Spain and France, the pandemic has already pushed national health systems to their breaking points. The outbreak has killed more than 6,000 Italians, the highest death toll of any country. Officials said Monday the virus had claimed just over 600 more lives, down from 793 two days earlier.