oonal/iStockBy CATHERINE THORBECKE, ABC News

(NEW YORK) — The coronavirus pandemic has quickly evolved from a health care crisis to a financial one, shuttering businesses, upending industries and sending financial markets reeling.

Here’s how the day is unfolding. Please refresh for updates.

Rail volumes at a 10-year low

COVID-19 restrictions have resulted in rail volumes hitting a 10-year low as a result of the lack of overseas imports and more, according to FEMA’s National Business Emergency Operations Center.

The projected cost to railroads as a result of the pandemic is $9 billion in lost freight in the short term, the government agency estimates.

The transportation industry including rail, airlines and more have been clobbered by the pandemic.

Publix to buy surplus dairy, produce from farmers and donate it to food banks

Grocery store chain Publix announced a new initiative Wednesday to purchase surplus dairy and produce from local farmers and donate it to Feeding America.

“The initiative will support Florida produce farmers, southeastern dairy farmers and the growing number of families looking to Feeding America for fresh fruits, vegetables and milk during the coronavirus pandemic,” the company said in a statement.

In the first week of the initiative, Publix says more than 150,000 pounds of produce and 43,500 gallons of milk will be donated to Feeding America food banks.

“As a food retailer, we have the unique opportunity to bridge the gap between the needs of families and farmers impacted by the coronavirus pandemic,” Publix CEO Todd Jones said in a statement. “In this time of uncertainty, we are grateful to be able to help Florida’s produce farmers, southeastern dairies and families in our communities.”

Feeding America estimates some 17 million additional people will experience food insecurity due to the rising unemployment and school closures amid the pandemic.

The initiative also comes amid reports of farmers disposing of produce and milk that it can’t sell as restaurants and hotels remain shuttered due to COVID-19.

“In addition to providing much needed produce and milk to food banks, this initiative provides financial support to farmers during this challenging time,” Jones said. “We’re honored to be able to work with these groups and do good together for our communities.”

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