Markets Implode, Coronavirus Cases In Europe & US Explode, As Outbreak Slows In South Korea: Live Updates

Monday, March 9, 2020
By Paul Martin

by Tyler Durden
ZeroHedge.com
Mon, 03/09/2020

Summary:

Confirmed cases near or pass 1,000 in France, Germany and Spain
PM Johnsons says UK won’t close parliament
NYC confirms 3 new cases, bringing city total to 16
77 new public health labs open across US Monday
Spain PM says he will have ’emergency plan’ to tackle outbreak
UK confirms another 45 cases
VP Pence will hold press conference at 5:30ET Monday
Amtrak shutters ‘Acela Corrider’
Korean construction worker contracted by US military tests positive
Total number of cases in Italy hits 7,375
‘Grand Princess’ will soon dock in Oakland
Trump congratulates VP Pence via tweet
New cases in South Korea drop as Philippines case total doubles
EUCO President says conference call will be held to coordinate EU response
Germany and France finmins hold talks to discuss crisis
Dutch infections climb to 321
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Update (1015ET): Across the US, 77 public health labs have finished setting up their Covid-19 testing as of Monday morning.

Update (0950ET): While the world has been transfixed by the chaos in American equity markets as the first major circuit breaker is triggered, the coronavirus news just keeps coming:

Five new cases have been confirmed in Scotland, bringing the Scottish total to 23, and the UK-wide total to 281. Spain has closed schools in the Basque town of Labastida for 14 days. Italy’s market watchdog Consob said in a statement on Monday that halting stock-market trading would generate long-term problems. However, a ban on short selling could be considered when shares’ movement exceed 10% and if other conditions are in place, as per European rules.

CNN reported that the Trump Administration is considering ‘discouraging’ Americans from taking air travel.

Three additional coronavirus cases were confirmed in New York City bringing the total to 16 confirmed cases, according to Mayor Bill de Blasio’s spokesperson Freddi Goldstein.

The three new cases raise the NYS total to 108. Above, Mayor de Blasio says 85 additional school nurses will be dispatched to help deal with the coronavirus-related demand.

Finally, national UK health officials have confirmed another batch of cases, bringing the total to 319 from 273.

Meanwhile, the WHO is holding its daily press conference:

Update (0915ET): As critics slam President Trump for not focusing on the virus, the commander-in-chief of the American armed forces tweeted another congratulatory message to VP Mike Pence.

Trump also insisted that the best decision he made was closing off travel from China early on as epidemiologist slam his administration for not stockpiling enough tests.

Unfortunately, it would have been better if the CDC had administered more than 2,000 tests as of eod Friday, but those unfortunately aren’t the circumstances on the ground. We look forward to hearing more from the administration tonight – perhaps some encouraging information about when the market can expect test kits to be made available to everyone who needs one – when VP Pence leads a press conference beginning at 5:30 pm ET.

Over in China, officials in Wuhan announced Monday that they would be closing 11 of the 18 makeshift hospitals built during the outbreak.

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Update (0845ET): Following UK PM Boris Johnson’s emergency meeting Monday morning with fellow government officials, the UK leadership has reportedly decided against closing Parliament over the outbreak, though access to visitors will be strictly limited.

Overnight, the number of confirmed cases in Spain nearly doubled, going from 589 on March 8 to 999 on March 9. In response, the government has ordered all schools and universities in the country to close. With acute concentrations of cases in the capital, Madrid, as well as the country’s industrial hub in the Basque country, deaths have climbed to 26 across the country. In Madrid alone, confirmed cases increased by about 200 between Sunday and Monday, BBG reports.

After the number of cases in the Philippines doubled to 20 on Monday, from now on well-wishers will not be allowed to touch Philippines President Rodrigo Duterte to protect him from the coronavirus, his security detail said. Duterte is 74, and thus technically a high-risk patient.

In Iran officials have temporarily released 70,000 prisoners in a bid to contain coronavirus in the country.

Iran’s Mizan news agency quoted judiciary chief Ebrahim Raisi as saying “it is necessary for the temporary release of prisoners to continue… so long as it does not create insecurity in society.”

In the Netherlands, cases have climbed to 321, according to local media reports.

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