Originally Posted by
JPPR2
this is now significantly impacting businesses globally.
It appears the "markets" are finally recognising that "when China "sneezes, the world catches a cold".
Deliveries of components required for many global companies. Supply chains disrupted,
Stocks, Bond Yields Tumble After CDC Confirms First Person-To-Person Virus Spread In US
"Well that changes things..
The Centers for Disease Control and Prevention and Illinois public health officials confirmed Thursday the nation’s first person-to-person transmission of the coronavirus.
The new patient is the spouse of the Chicago woman who brought the infection back from Wuhan, China, the epicenter of the outbreak, CDC officials said during a press briefing.
Equity markets, desperate to believe that this is contained... are catching on..
And 30Y Yields are about to break to a 1 handle...
It would appear that WHO has no choice but to declare emergency now.
“These developments in terms of the evolution of the outbreak and further development of transmission, these are of grave concern and has spurred countries into action,” Dr. Mike Ryan, executive director of the WHO’s health emergencies program said.
“What we know at this stage, this is still obviously a very active outbreak and information is being updated and changing by the hour.”
As a reminder, in 2003 there was NO human-to-human transmission of SARS in the US.
Developing..."
Stocks, Bond Yields Tumble After CDC Confirms First Person-To-Person Virus Spread In US | Zero Hedge
No mention of the Chicago woman's nationality.
World Stocks Tumble As Viral Pandemic Fears Return, Curve Re-Inverts
If yesterday, algos, millennial traders and generally markets acted as if the coronavirus epidemic was contained, all of that reversed overnight when global stocks and US equity futures across the world tumbled on Thursday as the death toll from the coronavirus epidemic reached 170 with nearly 8000 people now sick forcing airlines to cut flights and stores to close as the potential economic hit from the outbreak came into focus.
And after dismissing the latest escalation on Wednesday, markets perhaps finally read up on what a geometric progression means and decided to freak out on Thursday, just because, with S&P futures tumbling, and undoing all of Wednesday's gains, as tech giant giants presenting a mixed picture after the bell on Wednesday, with Facebook’s results underwhelming even as Microsoft and Tesla beat expectations.
Or perhaps someone in the market finally learned to do math, and it is ugly: Chinese factories have announced extended holidays, global airlines cut flights and Sweden’s Ikea said it would shut all stores in China. One Chinese government economist said the crisis could cut first quarter growth in the world’s second largest economy to 5% or lower, with the crisis hitting sectors from mining to luxury goods. Investment banks also started to put figures on what the damage could be. Citi has said it expects China’s 2020 growth to slow to 5.5%, after previously predicting it to be 5.8%, with the sharpest slowdown this quarter.
“The economic impact will be determined by the extent to which it spreads,” said Michael Bell, global market strategist at J.P. Morgan Asset Management, adding that hard evidence of a hit to economic data was needed before the impact of the virus could be judged."
Continues:
World Stocks Tumble As Viral Pandemic Fears Return, Curve Re-Inverts | Zero Hedge