DOW tumbled -1031.61 pts, or -3.56%, to 27960.80 overnight as global outspread of China’s Wuhan coronavirus worsened. That’s also the the third-worst point drop in history. S&P 500 dropped -3.35%, largest percentage drop in two years. Asian markets are mixed though, with Nikkei down -2.7% at the time of writing, coming back from holiday. Hong Kong HSI and Singapore Strait Times are trading positive, recovering.
Total number of confirmed Wuhan coronavirus cases surged pass 80k to 80096 globally. In China, the National Health Commission said 508 new cases were confirmed on February 24, brining he total accumulated number to 77658. Death tolls increased by 71 to 2663. Globally, situation in Italy is worrying with confirmed cases standing at 229, with 7 deaths. Number for South Korea stay high at 893 case as and 8 deaths. 47 cases were found in Iran with 12 deaths.
In the US, there are 35 cases for now, with no death. The White House said yesterday that “the Administration is transmitting to Congress a $2.5 billion supplemental funding plan to accelerate vaccine development, support preparedness and response activities and to procure much needed equipment and supplies.”
