US Pres. Trump to reportedly declare national emergency at news conference

US President Donald Trump announced that he will be holding a news conference on the coronavirus outbreak at 19:00 GMT on Friday. According to Bloomberg, Trump could declare coronavirus a national emergency to free up funds to be used in the economic relief package.

Market reaction

Wall Street's main indexes retreated from session highs on this headline. As of writing, the Dow Jones Industrial Average and the Nasdaq Composite were both up 2.5% on the day while the S&P 500 was adding 2.6%.

In the meantime, the 10-year US Treasury bond yield also edged lower and was last seen at 0.889%, still up nearly 12% on a daily basis.