Dow Jones plunges 1000 points as Coronavirus cases spread globally

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Global markets took a huge dive today as Coronavirus (COVID-19) cases continue to spread globally. The Dow down (3.28%), S&P500 down (3.2%) and the nasdaq down (3.65%). The DAX fell (4.01%), FTSE 100 down (3.34%) and Hang Seng (Honk Hong Index) down (1.79%).

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Fear continues to linger as the Coronavirus (COVID-19) spreads at a rapid pace recording new cases and casualties daily. Japan, Italy and South Korea continue to see a heightened number of cases across their countries.

The bulk of Coronavirus cases are located in mainland China, now with more than 77,000 cases confirmed globally. Italy, most recently, has reported the largest spike in cases outside of Asia.

At least 5 people have died, and at least 220 cases have been confirmed in Italy, according to Angelo Borelli, head of Italy’s Civil Protection Agency.

Italy says it has still not found patient zero, making it difficult for the country to forecast any potential new cases. Italy has announced several travel restrictions and quarantine measures in affected areas.

Italy’s Health Minister said in a statement: ”We are asking basically that everyone who has come from areas stricken by the epidemic to remain under a mandatory house stay”

Iran also saw a huge spike in Coronavirus (COVID-19) cases where the death toll has now risen to 7. The government has also confirmed 43 other cases for the virus. They sounded an alarm suspecting the virus may have travelled to all cities. The government took action on Sunday, closing down schools, universities, and cultural centres across 14 different provinces.

South Korea has also announced today that they have confirmed 833 cases, 8 of which have resulted in death. The WHO (World Health Organization) has urged African countries to prepare for potential affects if an outbreak were to occur.

Health officials around the world are worried about the potential outbreak into poor African countries. The WHO (World Health Organization) – Africa prepared a note warning on the novel coronavirus in hopes that it does not impede on African health systems.

Several African countries including Ethiopia, Botswana, Angola and Kenya have signalled suspected cases in their region. However, these countries may lack potential health and safety procedures to prevent the novel virus from its viral spread.

As more and more cases and deaths are confirmed globally, you can expect that the global markets will react accordingly. Governments around the world will have to work together to prevent the virus from turning into a global pandemic, which could claim thousands of more lives globally.

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For more information,

Visit COVID-19 World Health Organization

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