With the U.S. poised to become the global epicenter of the coronavirus, President Donald Trump said the federal government could in a matter of weeks lift restrictions meant to slow the pandemic. A fellow Republican, Texas Lieutenant Governor Dan Patrick, suggested vulnerable senior citizens may be willing to sacrifice their lives for the good of the economy. In New York, ground zero for the pathogen in America, Governor Andrew Cuomo said the rate of spread is doubling every three days and that more than 25,000 residents are infected. Cuomo said the state needs 30,000 ventilators; the Trump administration said it's sending a few thousand. The White House has rejected calls to order industry to manufacture critical medical supplies needed by America's hospitals, reportedly at the urging of CEOs and the U.S. Chamber of Commerce. More than 51,000 Americans have been confirmed infected with Covid-19, and over 600 are dead. —David E. Rovella Bloomberg is mapping the spread of the coronavirus globally and in the U.S. For the latest news on the outbreak, sign up for our daily newsletter. Here are today's top storiesArguing that a $2 trillion Republican stimulus package would benefit corporations at the expense of workers and be administered without oversight, House Democrats countered with their own proposal Monday. On Tuesday, Treasury Secretary Steven Mnuchin hashed out sticking points with Senate Minority Leader Chuck Schumer. The promise of a coming deal sent stocks skyward.
Globally, coronavirus cases hit 400,000 while deaths have surpassed 17,000. Indian Prime Minister Narendra Modi on Tuesday ordered the nation of 1.3 billion to stay home for 21 days. Spain recorded 514 deaths in one day, the highest daily increase so far for the European nation, which has had 2,696 fatalities. The Netherlands also reported its highest one-day increase in deaths, from 63 to 276. Moscow's mayor warns that Russia faces a bigger threat than the Kremlin's official figures show. Former U.S. Vice President Joe Biden has repeatedly called for Trump to invoke the Defense Production Act to speed manufacture of ventilators and masks. A new poll shows the Democratic presidential frontrunner with a substantial lead over Trump in 300 crucial swing counties. U.S. services and manufacturing reported a precipitous drop in activity this month as the global economy violently contracted. A sobering example of why daily, or even monthly market reactions shouldn't be used to judge the effectiveness of a government program aimed at shifting the economy: After the Fed and Congress acted in 2008, it took four months and a 40% drop in the S&P before America turned the corner. Tesla CEO Elon Musk, who had questioned the seriousness of the coronavirus pandemic, gave Los Angeles 1,255 badly needed hospital ventilators which he helped acquire from China last week. What you'll need to know tomorrow What you'll want to read tonightNew toilets on the Navy's newest aircraft carriers clog so frequently that the sewage systems must be cleaned periodically at a cost of about $400,000 a flush. The Navy isn't sure the toilets on the USS Gerald R. Ford and the USS George H. W. Bush, made by Huntington Ingalls Industries, can withstand the demand of thousands of sailors without failing frequently. The $13 billion Ford, plagued by delays, defective critical systems and vulnerability to enemy weapon systems, will cost an estimated $123 billion to maintain during its lifetime, up from $77.3 billion.  Like Bloomberg's Evening Briefing? Subscribe to Bloomberg All Access and get much, much more. You'll receive our unmatched global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. Wake up with the biggest stories in politics: Balance of Power, which arrives in your inbox every morning, breaks down the latest political news, analysis, charts, and dispatches from Bloomberg reporters around the globe. Sign up here. Download the Bloomberg app: It's available for iOS and Android. Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more. | 
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