Markets start the week in deep risk aversion cases of coronavirus and death tolls surged in China. The spread to other countries is also widening. Nikkei is currently down -1.7% while many other Asian are on lunar new year holiday. DOW future is down -0.9% while WTI crude oil is down -2.33%. Gold is up 0.56%, with Yen jumps across the board with Dollar.
Confirmed cases in China jumped to 2744 on Monday, up from 1975 yesterday, and 1287 on Saturday. Death tolls also hit 80. The virus has now spread to countries including the US, France, Australia, Taiwan Japan, South Korea, Singapore, Thailand, Malaysia, Vietnam and Nepal.
The Chinese government extends the annual lunar new year break until February 2, from January 30 originally. The US is planning to evacuate some Americans from Wuhan on Tuesday. France is preparing to do the same by mid-week. Japan is also planning to evacuate its nationals.
