Chinas death toll exceeds 1,000, US GDP takes a hit amid coronavirus outbreak

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All times below are in Eastern time.

Total confirmed cases: More than 42,700
Total deaths: At least 1,013

The death toll in mainland China topped 1,011, according to Chinese state media. One death each has been reported Hong Kong and the Philippines. The number of infections in mainland China reached almost 42,300, bringing the total number of cases across the world to more than 42,700 as of Monday night. — Kopecki

The coronavirus is a “true black swan” for the oil and energy market, and as crude prices continue to move lower the worst may not be over yet, Ned David Research said in a note to clients. Analyst Warren Pies noted that the outbreak has reduced Chinese demand for oil by 2 million to 3 million barrels per day, which means “the oil market is looking down the barrel at no demand growth for the calendar year, and outright demand contraction is now on the table.” — Stevens

XPO Logistics operates 8 million square feet of warehouse space in Asia, including more than 1 million square feet in China alone. However, CEO Bradley Jacobs said the coronavirus outbreak and travel restrictions haven’t damped demand for logistics yet. “We have not seen a noticeable impact as of now,” Jacobs said, “We are watching it. Anything that slows down the global economy is not good for the transport and logistics industry.” — Holland

China has released a mobile app that tracks people and alerts them if they have been in “close contact with someone infected” with the new coronavirus. The “close contact detector” was released Saturday night, according to China’s state news agency Xinhua. Users scan a QR code on popular Chinese apps like WeChat and QQ, and submit their name, phone number and government-issued ID number to request information about whether they have been in close contact with anyone infected by the virus. China’s National Health Commission defines close contact as someone who has been close to someone who is infected or is suspected of being infected, according to the report. It also includes potential cases, the report says, such as family members, caregivers as well as passengers and crew members who have been on the same train or plane as those suspected of being exposed to the virus. — Feuer

Source: https://www.cnbc.com/2020/02/10/coronavirus-latest-updates.html

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