Coronavirus live updates: WHO calls Iran and Italy cases deeply concerning, airline stocks fall

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All times below are in Eastern time.

Total confirmed cases: More than 79,400
Total deaths: At least 2,621

While cases in China have slowed, the “sudden increase in new cases” outside of China is “deeply concerning,” Tedros Adhanom Ghebreyesus, director-general of WHO, said at a press conference at the agency’s headquarters in Geneva. Outside of China, there are 2,074 cases across 28 countries, including 23 deaths, he said. “What we see is epidemics in different parts of the world, affecting countries in different ways and requiring a tailored response,” he said. —Lovelace

Airline stocks fell as fears about the spread of the coronavirus beyond China added to worries about travel demand and the broader economy.  shares led the S&P 500 lower with an 8.6% drop in morning trading, hitting a more than four-month low. ‘ stock lost 6.7% to the lowest price in nearly four months, while was off 4%. Meanwhile,  was down 2.6%. —Josephs

A seventh person has died in the coronavirus outbreak in northern Italy, news agency ANSA said, while the number of confirmed cases rose to more than 220 in the country. ANSA said the latest person to die was an 80-year-old man who had been taken to hospital last week in Lodi after suffering a heart attack. Doctors believe he caught the virus there from another patient. —Reuters

The Dow Jones Industrial Average plunged by more than 900 points in morning trading as the number of cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus. “I’ve now come to the view that equity markets, global equity markets, have to reprice to take into account or fully discount the dramatic economic impact that all of this is going to have,” Jonathan Pain, author of The Pain Report, told CNBC’s “Street Signs” on Monday in Asia. “I believe that repricing … has just started and I think it’s going to be approximately 20% to 25% in the next month or so.” Pain said there isn’t “a letter in the alphabet which adequately describes the profile of the economic shock that … we’re beginning to see.” —Imbert, Huang

Source: https://www.cnbc.com/2020/02/24/coronavirus-latest-updates.html

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