Coronavirus live updates: WHO says failure to prepare for outbreak could be fatal mistake

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All times below are in Eastern time.

  • Total confirmed cases: More than 81,400
  • Total deaths: At least 2,770

The World Health Organization (WHO) said it is advising the organizers of the Tokyo Olympics and that no decision has been made to cancel the major sporting event in the midst of the coronavirus outbreak.

“To my understanding, no decision has or will be taken in the near term regarding the future of the Olympics,” Dr. Mike Ryan, the head of WHO’s Health Emergencies Programme, said on a call with reporters. He said that WHO was working “extremely closely” with event organizers and is providing them with risk assessment and management advice. — Newburger

European stocks slid into correction territory as the rapid spread of the coronavirus weighed heavily on market sentiment. The pan-European Stoxx 600 fell 4% and officially entered correction territory as it was off more than 10% from its record high notched on Feb. 19 last year. Germany’s DAX and Italy’s FTSE MIB were also both in correction territory. –– Smith, Ellyatt

U.S. Senate Majority Leader Mitch McConnell said he expects Senate appropriators to produce funding legislation within the next two weeks to fight the spread of coronavirus in the United States. McConnell, speaking on the Senate floor, said he has faith that bipartisan discussions on the Senate Appropriations Committee would agree on “the right sum … at this time to ensure our nation’s needs are fully funded.”

“I hope they can work expeditiously so the full Senate would be able to take up the legislation within the next two weeks,” the Kentucky Republican said. — Reuters

Stocks fell sharply again as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings also dragged down the major averages.The Dow Jones Industrial Average plummeted 529 points, or 2%. The S&P 500 slid 2.1% while the Nasdaq Composite dropped 2.4%. Those losses put the Dow in correction territory, down 10% from its from its record close to where it’s trading at now. The S&P 500 was in correction territory on an intraday basis. — Imbert

Source: https://www.cnbc.com/2020/02/27/coronavirus-latest-updates-outbreak.html

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