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Trump to sign executive order temporarily suspending immigration into US amid coronavirus pandemic

President Trump announced late Monday he will soon sign an executive order "to temporarily suspend immigration into the United States," in what appeared to be a drastic escalation of his efforts to fight the coronavirus pandemic and boost the economy.

"In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States!" the president tweeted.

The declaration came hours after U.S. equity markets plunged, with oil prices turning negative for the first time in history. Also on Monday, three states -- Georgia, Tennessee, and South Carolina -- revealed plans to begin reopening some businesses. Click here for more on our top story.

Other related developments:

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- Click here for Fox News' full coverage of the coronavirus pandemic

- Massachusetts seen as a new coronavirus hot spot as cases surge

Georgia, Tennessee, SC announce plans to reopen some businesses, wind down coronavirus stay-at-home orders

The governors of Georgia, Tennessee and South Carolina on Monday afternoon announced new plans to bring their states' economies closer to full force amid signs the coronavirus outbreak is slowing.

Georgia Gov. Brian Kemp said certain businesses, including gyms and hair salons, can reopen beginning this Friday. Meanwhile, Tennessee Gov. Bill Lee confirmed his state's stay-at-home order, previously extended to April 30, will end that day. And, South Carolina Gov. Henry McMaster said businesses previously deemed nonessential -- department stores, flea markets, florists, bookstores and music shops -- could reopen their doors. Click here for more.



Other coronavirus developments:

- Mich. doctor leading nation's largest antibody test expects first results in 'about a month'

- Chile to debut world's first 'immunity passports' for coronavirus: report

- Coronavirus in the US: State-by-state breakdown

Congress’ $300B package for small businesses not enough, may only last days: report

Bank officials reportedly have warned that the $450 billion package to replenish the earlier small business emergency fund will likely have a burn rate of $50 billion per day and run out of money in just a few days.

Banks have been warning customers that are qualified for a loan that not every business will receive one, Politico reported. Banking representatives told the website that for the package to have any significant effect on demand, it would have to approach $1 trillion. Richard Hunt, the president of the Consumer Bankers Association, told Politico that the new funds would be gone “at most” in 72 hours.

Negotiators from the House, Senate and White House are close to finalizing an accord on the so-called “phase 3.5” response to the coronavirus pandemic and hope to have an agreement late Monday or Tuesday, Fox News is told. The response will include $310 billion for the Paycheck Protection Program (PPP), which offers grants to small businesses struggling to make payroll, sources tell Fox News. Click here for more.

Other developments:

- With oil below zero, Trump to create Strategic Petroleum Reserve historic buying opportunity

- New York county residents sue WHO over coronavirus response: report

- CNN's Don Lemon rips stay-at-home protesters

- Coronavirus: What you need to know

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SOME PARTING WORDS

Fox News senior political analyst Brit Hume says it may be time to consider the possibility that coronavirus lockdown was colossal public policy calamity.

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Fox News First is compiled by Fox News' Bryan Robinson. Thank you for making us your first choice in the morning! Stay safe, stay healthy and try to stay positive -- we will get through this coronavirus pandemic together. We'll see you in your inbox first thing Wednesday morning.