President Trump announces travel restrictions in response to novel coronavirus outbreak

President Donald Trump announced Wednesday night that all travel from Europe to the United States will be suspended for 30 days, except for the UK.

Trump said the new rules will go into effect Friday at midnight. He said there will be exemptions for Americans who have undergone "appropriate screenings."

Watch a live playback of the address below:

The president also said that he is instructing the Small Business Administration (SBA) to "exercise available authority to provide capital and liquidity to firms affected by the coronavirus."

He said the SBA will provide economic loans in affected states and territories to help small businesses overcome temporary economic disruptions caused by the virus. Trump said he is also asking Congress to increase funding for the program by an additional $50 billion.

The president also talked about the dangers of COVID-19 to elderly people.

"The vast majority of Americans, the risk is very, very low. Young and healthy people can expect to recover fully and quickly if they should get the virus. The highest risk is for elderly population with underlying health conditions," Trump said. "The elderly population must be very, very careful. In particular, we're strongly advising that nursing homes for the elderly suspend all medically unnecessary visits."