February 20, 2020: Former passengers of the Diamond Princess cruise ship board a Taxi to leave after spending weeks on board in quarantine due to fears of spreading the COVID-19 Coronavirus in Yokohama. (Photo by Stanislav Kogiku/SOPA Images/LightRocket via Getty Images)
Princess Cruises, which had one of its ships quarantined off the coast of Japan last month, is suspending global operations through early May because of the coronavirus pandemic.
The cruise line, which is part of Carnival Corp., said Thursday that 18 cruise ships will cease voyages that were scheduled to depart between March 12 and May 10.
Japanese authorities quarantined the Diamond Princess cruise ship off the port of Yokohama for a two weeks after 10 passengers were initially diagnosed with the COVID-19.
The Miami cruise operator said those currently on cruises that will end in the next five days will continue to sail as expected so that travel arrangements aren't disrupted. Sailings underway that extend past March 17 will end at the most convenient location for guests, factoring in operational requirements.
The Food and Drug Administration is asking Congress for new powers, including the ability to mandate drug recalls and require eyedrop makers to undergo inspections before shipping products to the U.S.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
