U.S. stocks dropped sharply on Thursday as investors weighed sobering economic forecasts and new data, along with indications that the COVID-19 pandemic is far from subsiding.
Several sectors including hospitality and leisure suffered steep declines. As more than 20 states report a climb in coronavirus cases, there are new worries that consumers will be reluctant to return to restaurants and take trips. Those worries were fueled in part by data showing an additional 1.5 million people filing for unemployment for the first time last week hursday by the Department of Labor.
Meanwhile, Dr. Ashish Jha, director of the Harvard Global Health Institute, told TODAY that he expects the country to cross 200,000 deaths in September. "This pandemic is going to be with us until next spring or summer when we have a vaccine. This is not faded," he said.
- MAPS: Confirmed cases in the U.S. and worldwide; confirmed deaths in the U.S. and globally
- Reopening America: See what states across the U.S. have already reopened.
- The coronavirus has destroyed the job market in every state. See the per-state jobless numbers and how they’ve changed.
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Disney unveils plans to reopen California parks and resorts
Nearly three months after closing, Disney has set its sights on a phased reopening for its California parks and resorts starting early next month, the company announced Wednesday.
Downtown Disney District will begin reopening on July 9, Disneyland and Disney California Adventure will reopen by July 17 and Disney’s Grand Californian Hotel & Spa and Disney’s Paradise Pier Hotel plan to reopen on July 23. All of these dates are subject to state and local government approval.
Parades, nighttime spectaculars and character meet-and-greets will return at a later date, the company said.
Theme park capacity will be significantly limited to comply with government requirements as the coronavirus pandemic continues to spread. Visitors will be required to make a reservation in advance for park entry.