Bars, restaurants, theatres and cinemas were shutting down in New York, Los Angeles and other global cities to combat the coronavirus pandemic as countries tightened borders and central banks acted aggressively to cushion the economic impact.

The US Federal Reserve cut interest rates, for the second time in less than two weeks, to near zero and other central banks followed suit, but stock markets and the dollar continued to tumble.

“Many children think it is scary,” Norwegian Prime Minister Erna Solberg told a news conference, at her office, dedicated to answering children's questions about the pandemic.

“It is okay to be scared when so many things happen at the same time.”

Leaders of the G7 countries will hold a video conference to discuss a joint response to the coronavirus outbreak.

Several countries banned mass gatherings such as sports, cultural and religious events to combat the disease that has infected over 169,000 people globally and killed more than 6,500. The virus was first identified in the Chinese city of Wuhan in December but there have now been

more cases and more deaths outside mainland China than inside.

New York mayor Bill de Blasio said on Sunday he was ordering restaurants, bars and cafes to sell food only on a take-out or delivery basis. He also said he would order nightclubs, movie theatres, small theatre houses and concert venues to close.

“These places are part of the heart and soul of our city,” he said. “But our city is facing an unprecedented threat, and we must respond with a wartime mentality.”

Los Angeles mayor Eric Garcetti issued similar orders for restaurants, bars and cafes to sell food only via delivery or take-out, officials said.

The West Asian business and travel hub of Dubai said it was closing all bars and lounges until the end of March. Thailand, known for its raunchy nightlife, plans to close down schools, bars, movie theatres and popular cockfighting arenas.

“The worst is yet ahead for us,” said Dr Anthony Fauci, the top infectious diseases expert in the US.

US surgeon general Dr Jerome Adams said it was important to react aggressively.

“Do we want to go the direction of South Korea and really be aggressive and lower our mortality rates or do we want to go the direction of Italy?” he told Fox News.

In Italy, the hardest-hit country in Europe, there were 368 new deaths from the Covid-19 outbreak on Sunday, the biggest daily toll recorded in any country, including China. Prime Minister Giuseppe Conte told daily

Corriere della Sera that the outbreak was still getting worse.

Britain has asked manufacturers including Ford, Honda and Rolls Royce to help make health equipment including ventilators to cope with the outbreak and will look at using hotels as hospitals.

The financial policy actions were reminiscent of the sweeping steps taken just over a decade ago to fight a meltdown of the global financial system, but the target now is forcing entire societies to effectively shut down.

“The issue for investors that still remains is that the virus’s economic impact is still not known, if this is a one-month event or if this is a one-year event, and how deep the cutback in consumer spending is going to be,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.

Airlines said they would make more drastic cuts to their flying schedules, shed jobs and seek government aid because of sweeping global travel restrictions.

France and Spain joined Italy in imposing lockdowns on tens of millions of people. Australia ordered self-isolation of arriving foreigners.

China said industrial output contracted at the sharpest pace in 30 years in the first two months of 2020.

The Jewish faithful should avoid kissing the stones of the Western Wall, the chief rabbi of the Jerusalem site said.

And Starbucks has moved to a “to go” model in all its company-owned stores in the US and Canada, the coffee chain said, temporarily abandoning reusable cups.

The US Supreme Court will postpone its next round of oral arguments scheduled for later this month, including a high-profile dispute over President Donald Trump’s tax and financial records, in an effort to combat the spread of the coronavirus, a spokeswoman said on Monday.

The announcement to delay the arguments, which had been scheduled to begin on March 23, marked an increase in the court’s response to the pandemic after closing its building to the public last Thursday.

Malaysia said it would restrict travel, ban public gatherings and order schools, universities and most shops to shut from Wednesday in a bid to control the spread of the coronavirus.

Prime Minister Muhyiddin Yassin said there would be a ban on Malaysians travelling overseas and on visitors entering the country under a restricted movement order imposed from March 18 to March 31.