To me this is like a snow day. Say you are the superintendent of some school system, and it snows a little. You call off school, and a few disgruntled old men who complain about everything, complain. You don't and one bus hit a ditch and one kid gets a bloody nose and your career is fried. So you call off school.
That is where we are, only worldwide and 100000 times more important than a day of school. Not just Trump, but leaders of not only governments but businesses, including sports, worldwide, are in a quandary. At some point you have to understand that you just cannot shut the world down. Not only are millions out of work, but eventually the world is going to run out of stuff, and stuff a lot more important than toilet paper and sliced bread. At some point you just have to be a leader and restart society, knowing that the out-party and others self-appointed experts are going to cry and whine about it.
The world will be back in gear long before football season.
Long term effects are that the live gate is going to be down, not just because lots of folks have taken a financial hit, but because some over-reactors will just avoid crowds and travel for years, if not the rest of their lives.