Economic toll of virus goes global and hits close to home

Seven weeks after the first case of COVID-19 was confirmed in the U.S., the spread of the virus that causes the disease has done widespread damage to critical economic sectors in the country. Airlines are cutting capacity, people are working from home, major public events that raise millions of dollars for local communities have been cancelled, including this year's St. Patrick's Day parade in Boston. The Associated Press is publishing a running tally of the affects of the coronavirus on people, businesses, and the economy.

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TURBULENCE IN THE AIR: Europe's airports say they expect 187 million fewer passengers this year due to the virus outbreak, which is “turning into a shock of unprecedented proportions for our industry.” The ACI Europe, which represents the sector, estimated Tuesday that the outbreak will mean a 13.5% drop in airport passengers in the first quarter alone. That translates to 1.32 billion euros ($1.5 billion) in lost revenue. Airports in Italy, where a nationwide quarantine was put in place Tuesday, are most affected. Some 9,172 people have been infected in Italy, and 463 have died.

“What they are now bracing for is a total collapse in air connectivity and the prospect of losing most of their revenues,” said Olivier Jankovec, Director General of ACI Europe. He called on the Italian government to provide emergency financial support, and said that might be necessary across the EU if more authorities clamp down on travel.

Airlines continue to slash capacity as travelers cancel flights or avoid them all together. American Airlines cut international capacity by 10% for the summer Tuesday and will trim domestic capacity by 7.5% next month as millions second guess vacations or business travel. The airline is suspending flights between Los Angeles and mainland China and Hong Kong for the entire...