The Coronavirus Goes Global

When such a deadly virus hits, the first stage is always containment, as has occurred rapidly in China. But when it starts to spread past its origin more rapidly, it gets a life of its own. At this stage of the coronavirus’s spread, it’s better to focus on mitigation through sanitation and less direct social contact. Governments should support businesses and stop closing things down to make the economy and panic worse.

That’s where it seems we are suddenly today, after the coronavirus accelerated into Italy after doing the same in South Korea last week. The last week has seen the fastest acceleration outside of China.

The pandemic stage starts when the disease simultaneously starts spreading in multiple countries and regions. That’s why many experts say that stage has just started.

And yes, the “markets on crack” are finally waking up…

South Korea is down today 3.9%, and the same goes for Australia, at 2.3%, and Hong Kong, at 1.8%, with other Southeast Asian countries and India down 1% or more.

The Nasdaq opened up down 3.3%, the Dow down down 2.9% and the S&P 500 down 2.7%.

The major European indices are down similarly, from 3.2% to 3.9%.

The Shanghai Composite is down the least, 0.3%, with signs of marked slowing of the infections in China.

The coronavirus has now broken out in 31 countries. Cases in South Korea are now at 833, with 233 just on Monday, and 7 now dead. Holy crap!

Japan added over 60 in just the last week.

In Italy, the new shocker is cases reported, at 140 and rising.

Venice shut down a major carnival in response, and people weren’t happy about that.

Milan locked down 50,000 people.

Four infected U.K. passengers from the Diamond Princess ship (which had 695 infections) in Japan came home, with three of them already dead. A woman in the U.K. was harshly beaten for defending an Asian friend from strong racial attacks by a group of Brits.

Underreported Numbers?

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