Stocks fall after Apples coronavirus warning, analyst says worst is yet to come for markets

The coverage on this blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s Asia-Pacific team.

All times below are in Eastern time.

  • Total confirmed cases: More than 73,400
  • Total deaths: At least 1,874

China’s Hubei province, the epicenter of the outbreak, reported 1,693 confirmed new cases and 132 deaths over a 20-hour period , the local health authority said, according to a CNBC translation of the statement in Mandarin. The new cases bring the total number of infections for the province to 61,682, including 44,412 in the city of Wuhan alone, where doctors first identified the COVID-19. Officials said 9,128 patients have been discharged from local hospitals while 43,471 are still hospitalized, of which 9,289 are critically ill. — Kopecki

The CDC said it is prohibiting any passengers or crew from the Princess Cruise ship that was quarantined off the coast of Japan from returning to the U.S. for at least 14 days. There are still more than 100 of the original 3,700 people still aboard the Diamond Princess ship or in hospitals in Japan. They will need to wait 14 days after disembarking from the ship — without showing symptoms or testing positive for COVID-19 — before they will be allowed to fly back to the U.S., the CDC said. “While the quarantine potentially conferred a significant public health benefit in slowing transmission, CDC’s assessment is that it may not have been sufficient to prevent transmission among individuals on the ship,” the agency said. “CDC believes the rate of new infections on board, especially among those without symptoms, represents an ongoing risk.” — Kopecki

China may be reporting fewer new cases of coronavirus and fewer COVID-19 deaths, but it does not mean the country’s outbreak is slowing, immunologist Anthony Fauci told CNBC on Tuesday. “I think we need to give it a few more days to determine if that’s real or if that’s the variability that you generally see,” Fauci, a member of President Donald Trump’s coronavirus task force, said on “Closing Bell.” Fauci, who is the director of the National Institute of Allergy and Infectious Disease, was referencing reports Tuesday that the number of new daily cases in China fell below 2,000 for the first time since Jan. 30. Chinese officials also reported 98 deaths, the first time the daily toll was below 100 since Feb. 11. — Stankiewicz

The Dow Jones Industrial Average fell for a third-consecutive day as investors weighed a stark warning from tech giant Apple. Apple cautioned it does not expect to meet its quarterly revenue forecast, citing slowed production and weakened demand in China as a result of the coronavirus outbreak. The most valuable company in the U.S. initially said it expected to report net sales between $63 billion to $67 billion in its fiscal second quarter. Apple also finished the session well off its lows of the day, closing 1.8% lower. — Imbert

Source: https://www.cnbc.com/2020/02/18/coronavirus-latest-updates.html

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