Coronavirus: WHO warns virus could spread to every country, US markets point to continued losses

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All times below are in Eastern time.

  • Total confirmed cases: More than 83,700
  • Total deaths: At least 2,859

It’s unclear how many people in the U.S. are circulating with the virus, senior director of New York City Health’s system-wide special pathogens office Dr. Syra Madad said on CNBC’s “Squawk Box.” The possible case of community transmission earlier this week in California, she said, was a “wake up call.” Cities across the country need to begin to prepare to control an outbreak and treat patients, she added. “We need to ramp up diagnostic capabilities,” she said. “The more you wait, the more human toll is going to mount.” —Feuer

Yum China, which operates Pizza Hut and KFC in China, said it is gradually reopening restaurants when possible to do so. Some reopened stores will only be partially operational. Yum China had closed about 30% of its stores in response to the outbreak and introduced contactless delivery and pick-up for its food. Shares of the Yum Brands operator were down 3.6% in premarket trading amid broader market losses. —Lucas

Former Federal Reserve Governor Kevin Warsh said he expects the Federal Reserve and other central banks around the world to act soon in response to the outbreak. He said the Fed should act as quickly as Sunday to assuage financial markets that have been in an aggressive swoon all week as the virus has spread. “This thing’s moving pretty darn quickly,” he said. “At the very least, a statement on Sunday night before Asian markets open would buy them a little time and let us all learn a little bit more about where things are,” he said in an interview on CNBC’s “Squawk Box.” —Cox

If the coronavirus spreads further in the U.S., that could mean bad news for U.S. mall owners, according to new survey data. Fifty-eight percent of people say they are likely to avoid public areas, such as shopping centers and entertainment venues, if the virus’ outbreak worsens in the U.S., a poll by Coresight Research found. It surveyed 1,934 U.S. consumers 18 years old and above, on Tuesday and Wednesday. Roughly 27.5% of respondents said they were already beginning to cut back visits to public areas, Coresight’s survey said. Data suggests malls “will be hit hard,” it said. —Thomas

Source: https://www.cnbc.com/2020/02/28/coronavirus-latest-updates-outbreak.html

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