US could be new global epicenter of COVID-19: WHO

'Suicides by thousands'

Trump told Fox News he'd like to see people go back to work by Easter, in mid-April.

"I would love to have the country opened up and just raring to go by Easter," he said. "You're going to lose more people by putting a country into a massive recession or depression. You're going to lose people. You're going to have suicides by the thousands," he said.

A rapid reopening of the economy might backfire, however, with a rise in the death toll and people fearful of going out, according to investors anxious about the uncertain trajectory of the coronavirus and its economic toll.

"Markets will react badly because they have learned that this approach doesn't work," said Axel Merk, chief investment officer of Merk Investments. "From a medical point of view, you have to break the exponential growth and you do that with shelter in place policies."

On Tuesday, Wall Street snapped back from three-year lows and the Dow Jones index surged more than 8 percent after US lawmakers said they were close to a deal for a massive economic rescue package.

Negotiators in the US Senate said they could pass the $2 trillion stimulus bill, which includes financial aid for ordinary Americans, small businesses and critically affected industries, as soon as Tuesday.

Reuters