This is a live blog. Please check back for updates.
All times below are in Eastern time.
Total confirmed cases: More than 73,400
Total deaths: At least 1,874
Sanofi joins a list of about a dozen drugmakers that are working on a vaccine or anitviral treatment to combat the deadly virus. The French drugmaker is working with the Biomedical Advanced Research and Development Authority (BARDA) of the U.S. Health Department, it said. The company plans to further investigate an advanced pre-clinical vaccine candidate previously developed against the SARS virus in the early 2000s, which it believes could protect against the latest coronavirus. âReuters
World Health Organization officials are holding a press conference at 10:30 am ET to update the public on the coronavirus outbreak. Watch here.
Walmart CEO Doug McMillon said it’s too early to tell what the effects of the coronavirus will be on the retailer’s financial results. “We are still operating our stores [in China]. Almost all of them are open … but operating on reduced hours,” with a focus on selling food and consumables, he said. Walmart’s current full-year forecast doesn’t include impacts from the virus. â Thomas
Continuing worries over the impact the COVID-19 outbreak will exert on economic growth have caused fund managers to cut their China GDP expectations to the lowest level in more than four years. Investment professionals now see China’s $12.2 trillion economy rising an average of just 5.2% over the next three years, according to the Bank of America Global Research Fund Manager Survey for February. While that’s a level that much of the developed world would envy, it’s well off China’s average quarterly gain of 6.6% over the previous three years and well below the 10.6% gain of 10 years ago. It is also the lowest outlook since September 2015. The pessimistic view coincided with a lower though still largely positive outlook for the rest of the world. â Cox