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American Business Affected By Corona Virus

A week ago, Mark Canlis’s restaurant in Seattle was offering a $135 tasting menu to a bustling dining room every night. Eileen Hornor’s inn on the Maine coast was booking rooms for the busy spring graduation season. And Kalena Masching, a real estate agent in California, was fielding multiple offers on a $1.2 million home.

Then the coronavirus outbreak changed everything.

Today, Mr. Canlis’s restaurant is preparing to become a drive-through operation serving burgers. American Business Latest News Ms. Hornor is bleeding cash as she refunds deposits for scores of canceled reservations. And Ms. Masching is scrambling to save her sale after one offer after another fell through.

“Last week, I would have told you nothing had changed,” she said. “This week, it has all gone to hell.”



For weeks, forecasters have warned of the coronavirus’s potential to disrupt the American economy. But there was little hard evidence beyond delayed shipments of goods from China and stomach-churning volatility in financial markets.


Now the effects are showing up in downtown nightspots and suburban shopping centers from coast to coast.


ImageA quiet Pike Place Market, which is usually crowded on Fridays with tourists and Seattleites grabbing lunch.
A quiet Pike Place Market, which is usually crowded on Fridays with tourists and Seattleites grabbing lunch.Credit...Chona Kasinger for The New York Times

Not since the attacks of Sept. 11, 2001, has a crisis enveloped so much of the economy so quickly. Broadway is dark. The college basketball tournaments are canceled and professional sports are on indefinite hold. Conferences, concerts and St. Patrick’s Day parades have been called off or postponed. Press Release Distribution Service Even Disneyland — which stayed open through a recession a decade ago that wiped out millions of American jobs and trillions of dollars in wealth — is shuttered.

“This hits the heart of the economy, and it hits the economy on all sides,” said Diane Swonk, chief economist at Grant Thornton. “It’s not just that we’re slowing down things. We’re actually hitting the pause button, and there is no precedent, there is no mold for that.”

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