Yahoo Finance Coronavirus update: US records first human-to-human transmission as WHO declares global emergency
The coronavirus outbreak entered a critical and potentially more worrisome phase on Thursday, as the World Health Organization declaring China’s surging infections a global public health emergency, while the United States reported its first human-to-human transmission.
Tedros Adhanom Ghebreyesus, the WHO’s Director-General, said that the agency’s move was not meant to be a “vote of no confidence” in China, but a recognition that the virus could spread to countries “with weaker health systems and are ill-prepared to deal with it.”
The death toll in mainland China — where the WHO announced that 99% of cases are contained — and the region has surpassed 170, with over 8,000 confirmed cases.
However, the WHO director stressed that the organization is not recommending any travel bans, and “there is no reason for measures that unnecessarily interfere with international travel and trade.”
Meanwhile, the Centers for Disease Control reported the spouse of one of the first U.S. cases has also contracted the virus, despite not having traveled to Wuhan. To date, 18 countries have been affected, but no deaths outside of China.
“Given what we’ve seen in China and other countries with the novel coronavirus, CDC experts have expected some person-to-person spread in the US,” said CDC Director Robert R. Redfield.
“We understand that this may be concerning, but based on what we know now, we still believe the immediate risk to the American public is low,” he added.
Businesses have taken action in the meantime, with reports of empty streets in parts of China and Hong Kong as some large employers close offices and ban travel. Some of the companies affected include Starbucks (SBUX), McDonalds (MCD), Microsoft (MSFT) and Google (GOOG).
The most widely impacted industries have been travel and leisure, with major air carriers sharply curtailing flights in and out of China. In the last week, American Airlines (AAL), Delta (DAL), United (UAL) British Airways, and other carriers have restricted or suspended flights to and from China this week, with more following suit Thursday.
Yahoo Finance is following developments closely, and will bring you updates as they occur.
Markets
The CDC’s report of human-to-human transmission knocked major stock benchmarks, with the S&P 500 (^GSPC), Dow (^DJI) and the Nasdaq (^IXIC) hitting session lows after the news broke.
Markets remain closed in China, but Hong Kong investors returning from the Lunar Year holiday by sharply selling off stocks Wednesday. Travel and leisure stocks remained under pressure, as investors priced in the possibility that the coronavirus would crimp flights and cruises.
Airlines that have restricted or canceled flights to China include Air Canada (ACDVF), Lufthansa (DLAKY), Lion Air Group and Cathay Pacific (CPCAY).
Food and entertainment companies have also shuttered locations in the areas affected by the virus, including KFC, Pizza Hut, Domino’s and YumChina (YUM) brands.
What’s happening around the world
Concerns of racism and racial profiling of Asians have also been circulated on social media. Ontario's Chief Medical Officer of Health Dr. David Williams addressed targeting individuals wearing face masks at a press conference Thursday.
The U.S. government first responded by expanding screening measures at key airports, and has escalated to not allowing travel to Wuhan Wednesday. Governments have been evacuating citizens from China, including the U.S., which transported citizens and diplomats to a military base in California days ago.
Meanwhile, France — which has only five reported cases — is feeling the economic pinch of the steep decline in Chinese tourists.
"If it goes on like this I will not have my job anymore," Chomphunut Supraditapron, a manager at duty-free outlet Paris Look, told Reuters on Thursday.
An overall travel ban, which some say could be crippling to China’s economy, has not been announced yet, but U.S. officials are monitoring the situation closely, and could decide to shut down travel between the world’s two largest economies.
Russia announced 16 of the 25 border points it shares with China will be closed, as the country shuts down travel across from China. Just this week, the U.K. and Hong Kong announced strict travel measures to and from mainland China. Australia is quarantining evacuees from China by sending them to Christmas Island.
There have also been reports of sick travelers on flights from China, including in Australia and Canada, in the past week. In addition, a Carnival subsidiary’s cruise ship has been trapped in Italy with 6,000 passengers on board after two Chinese passengers were found to have the virus.
Anjalee Khemlani is a reporter at Yahoo Finance. Follow her on Twitter: @AnjKhem
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