Here's what you need to know about the
coronavirus right now:
US spending blitz
US senators and Trump administration officials have
reached an agreement on a massive economic stimulus bill to
alleviate the economic pressure of the coronavirus outbreak,
negotiators said on Wednesday. The Senate will vote on the
$2-trillion package later in the day and the House of
Representatives is expected to follow suit soon after.
Stand by: Tokyo Olympics postponed
In a blow to Japan and an unprecedented move in the modern
history of the Olympics, the International Olympic Committee
(IOC) and Japan's government succumbed to intense pressure from
athletes and sporting bodies around the world and agreed to push
back the Tokyo Summer Games until 2021.
Major corporate sponsors including Coca-Cola Co, Procter &
Gamble Co and Samsung Electronics, said they were standing by
the IOC after the postponement. Experts familiar with the deals
said the companies would not likely seek the return of billions
of dollars committed to the agreements.
Treat with caution: rocketing stocks not cause for comfort
Those pining for a bottom to the gut-wrenching stock market
selloff may be disappointed to learn that mega one-day rallies,
like the one on Tuesday, are typically not the start of a
durable recovery.
Of the twenty past instances when the S&P rallied 8% or more
in a single day, thirteen of them took place when stocks were in
the embrace of a bear market.
The spread
There are over 420 000 cases of coronavirus reported across
196 countries, according to a Reuters tally at 0200 GMT on
Tuesday. Almost 19 000 deaths are linked to the virus.
Italy reported over 5 000 infections in the past day, and
total infections are now almost 70 000. Italy will overtake
China's case load of 81 000 within days if the rate of infection
continues at this pace.
The United States now has the third-highest number of cases
globally, after it added almost 11 000 cases in the past day.
The WHO warned it could become the virus' new epicentre.
Cases in India crossed 500 for the first time on Tuesday, as
the world's second-most populous country began a three-week
lockdown.
Symptom-free carriers raise fears of new infection wave
The existence of a substantial but unknown number of
asymptomatic carriers of coronavirus in China has raised
concerns among the public that people could still be spreading
Covid-19 without knowing they are sick.
Asymptomatic cases are currently found through "contact
tracing". China identifies people exposed to someone with a
confirmed diagnosis, and if they test positive, they are
quarantined whether or not they manifest symptoms.
However, some experts warn that undetected, asymptomatic
patients could create fresh transmission routes once lockdowns
are eased.