The Dow Jones Industrial average jumped 700 points during mid-day trading Monday as global stock markets struggle to shake-off last week’s frenzied sell-off stoked by fears of the Coronavirus.
“Monday’s moves mirrored the volatile overnight session where Dow futures traded in a range of more than 1,000 points, indicating this week may be as volatile as last week as well,” reports CNBC.
“The Dow, S&P 500, and Nasdaq Composite all fell more than 10% last week, their biggest weekly declines since October 2008. They also entered correction territory, down more than 10% from all-time highs notched earlier in February. Both the Dow and S&P 500 have fallen for seven straight days,” adds the website.
The Dow Jones Industrial Average surged more than 700 points, while the benchmark S&P 500 climbed 2.7%, placing in on track for its best day since January 2019. https://t.co/74I0d9Cy2Z
— NBC Montana (@NBCMontana) March 2, 2020
This is a developing story. Check back for updates.
CORONAVIRUS in NYC: Manhattan Woman Diagnosed with Coronavirus After Traveling to Iran
New York Governor Andrew Cuomo confirmed the state’s first case of Coronavirus in Manhattan over the weekend; raising health concerns over a potential outbreak in the country’s largest city.
“We have learned of the 1st positive case of COVID-19 in NY. The patient contracted the virus while in Iran & is isolated. There is no reason for undue anxiety—the general risk remains low in NY. We are diligently managing this situation &will provide info as it becomes available,” posted the Governor on social media.
We have learned of the 1st positive case of COVID-19 in NY. The patient contracted the virus while in Iran & is isolated
There is no reason for undue anxiety—the general risk remains low in NY. We are diligently managing this situation &will provide info as it becomes available. pic.twitter.com/rLnObvrg3R
— Andrew Cuomo (@NYGovCuomo) March 2, 2020
“The patient has respiratory symptoms, but is not in serious condition and has been in a controlled situation since arriving to New York,” Governor Cuomo said in a statement.
“Gov. Andrew M. Cuomo on Sunday confirmed New York State’s first case of the coronavirus, saying that a woman contracted the virus while traveling in Iran and is now in New York City isolated in her home,” writes the New York Times. “A woman in her 30s who had traveled in Iran contracted the virus and is now isolated at home.”
Read the full report here.
Source: New York Times
BREAKING: CDC Says Coronavirus Will Likely ‘Become a Global Pandemic,' Urges Americans to Prepare
Officials at the Centers for Disease Control confirmed Tuesday afternoon that the deadly Coronavirus will likely “become a global pandemic” in the coming days.
“Current global circumstances suggest it’s likely this virus will cause a pandemic,” Anne Schuchat, principal deputy director of the Centers for Disease Control and Prevention told reporters.
“It’s not so much a question of if this will happen any more, but rather more a question of when this will happen and how many people in this country will become infected and how many of those will develop severe or more complicated disease,” she added.
The virus has infected more than 80,000 people -mostly in China- and killed upwards of 3,000. Recent outbreaks in Italy and Iran have drastically increased the likelihood of a major outbreak somewhere in the United States.
“We must use this time to continue to prepare for the event of community transmission in the United States,” Schuchat said. “Part of that preparation is educating the public and our state, local and private sector partners about what transition from aggressive containment measures to community measures or community mitigation would look like should we end up there.”
Read the full report here.