Coronavirus Outbreak Batters Economies

Coronavirus batters economies across the globe
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Amid fears about where the next outbreak of the fast-spreading new virus would appear, infections and deaths continued to rise across the globe, emptying streets of tourists and workers, shaking economies and rewriting the realities of daily life.

Panic-buying of daily necessities emerged in Japan, tourist sites across Asia, Europe and the Mideast were deserted, and governments closed schools and banned big gatherings. Amusement parks have been shuttered and concerts cancelled.

In Paris, the Louvre Museum closed its doors and priests stopped placing sacramental bread in worshippers’ mouths.

China on Sunday reported a slight uptick in new cases over the past 24 hours to 573, the first time in five days that number has exceeded 500. They remain almost entirely confined to the hardest-hit province of Hubei and its capital, Wuhan.

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South Korea reported 210 additional cases and two more deaths from the virus, raising its totals to 3,736 cases and 20 fatalities. South Korea has confirmed the second largest number of virus infections outside mainland China, with most of the cases reported in the southeastern city of Daegu and nearby areas.

The list of countries hit by the virus has climbed past 60. More than 87,000 people worldwide have contracted the virus, including nearly 3,000 deaths.

Tokyo Disneyland and Universal Studios Japan announced they would close, and big events were cancelled, including a concert series by the K-pop supergroup BTS.

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The last group of about 130 crew members got off the Diamond Princess on Sunday, vacating the contaminated cruise ship and ending Japan’s much-criticized quarantine that left more than one-fifth of the ship’s original population infected with the new virus.

 

 

 

There’s growing evidence of the vast cost and economic turmoil of the disease that emerged in central China in December. A new report shows a sharp decline in Chinese manufacturing in February after efforts to contain the virus shut down much of the world’s second-largest economy. The survey comes as global stock markets fall sharply on fears that the virus will spread abroad.

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