Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

China to allow in U.S. health experts as virus shows no sign of slowing

Stock MarketsFeb 03, 2020 07:32PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. A man wears a face mask as he practices calligraphy of Chinese characters on a pavement in Jiujiang

By Kevin Yao and Winni Zhou

BEIJING/SHANGHAI (Reuters) - China has agreed to allow U.S. health experts into the country as part of a World Health Organization (WHO) effort to help fight the fast-spreading coronavirus, as the number of cases and deaths continued to mount.

In central China's Hubei province, epicenter of the epidemic, China state TV reported there were 2,345 new cases of the virus and another 64 deaths, bringing the total of virus-related fatalities in Hubei to 414 by Monday.

The Chinese stock market plunged about 8% on Monday, wiping $393 billion off the value of the Shanghai bourse, on the first day of trading following an extended Lunar New Year holiday in a bid to help keep people at home and contain the virus' spread.

The White House said on Monday China had accepted its offer to have U.S. experts as part of a WHO mission to study and help combat the virus that emerged in Hubei's provincial capital of Wuhan.

A 1,000-bed hospital built in eight days to treat people with the virus in Wuhan was due to receive its first patients on Monday, state media said. A second hospital with 1,600 beds is due to be operational later this week.

With Wuhan and some other Chinese cities in virtual lockdown, travel severely restricted and China facing increasing international isolation, fears of wider economic disruption are growing. Sources at the OPEC oil cartel told Reuters producers were considering cutting output by almost a third to support prices.

The WHO last week declared the flu-like virus a global emergency. It has spread to 23 other countries and regions. The Philippines reported the first coronavirus death outside of China.

Airlines around the world have stopped flights to parts of China. A suspension by the United Arab Emirates on Monday will affect the Gulf airlines Etihad and Emirates.

Earlier on Monday, China accused the United States of spreading fear by pulling its citizens out and severely restricting travel.

Washington has "unceasingly manufactured and spread panic," Foreign Ministry spokeswoman Hua Chunying told reporters, noting that the WHO had advised against trade and travel curbs.

"It is precisely developed countries like the United States with strong epidemic prevention capabilities and facilities that have taken the lead in imposing excessive restrictions contrary to WHO recommendations," she said.

The U.S. Centers for Disease Control and Prevention (CDC) defended the measures taken by the United States, including suspending the entry of foreign nationals who had visited China within the past 14 days.

"We made an aggressive decision in front of an unprecedented threat that action now had the biggest potential to slow this thing down. That's what the theory is here," said Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases, as she noted that there are already some 17,000 cases of a virus for which the population does not have immunity.

'NO REASON' FOR TRAVEL CURBS

The WHO's director-general, Tedros Adhanom Ghebreyesus, again said travel bans were unnecessary.

"There is no reason for measures that unnecessarily interfere with international travel and trade," he told the WHO's executive board in Geneva.

"The chance of getting this (virus) going to anywhere outside China is very low, and even in China when you go to other provinces, it's very low," he added.

The outbreak is reminiscent of Severe Acute Respiratory Syndrome (SARS), a virus from the same family that emerged in China in 2002 and killed almost 800 people around the world out of the roughly 8,000 who were infected.

Chinese data suggests the new virus, while much more contagious than SARS, is significantly less lethal, although such numbers can evolve rapidly. Prior to the latest figures from Hubei, the number of confirmed infections in China stood at 17,205.

The WHO said at least 151 cases had been confirmed in 23 other countries and regions, including Japan, Thailand, Germany, Britain and the United States, which on Monday reported its second case of person-to-person transmission within its borders.

Chinese President Xi Jinping said controlling the virus was his country's most important task, Xinhua state news agency said.

In addition to Monday's Chinese stock selloff, the yuan currency had its worst day since August, and Shanghai-traded commodities from oil to copper hit their lower limits - all despite the central bank's injection of 1.2 trillion yuan ($174 billion) into money markets.

The selloff did not extend to U.S. markets, which closed higher on Monday with the S&P 500 up 0.7%.

Fears over the effect of China's lockdown on global growth have slashed more than 22% off the price of the Brent global crude oil benchmark since its recent peak on Jan. 8..

Economists are predicting world economic output will be cut by 0.2 to 0.3 percentage point.

'YOU HAVE BEEN SPOTTED'

Taiwan's Foxconn, which makes smartphones for Apple (NASDAQ:AAPL) and other brands, has halted "almost all" of its production in China after companies were told to shut until at least Feb. 10, a source said. The company did not respond to a request for comment.

Countries continued to evacuate their citizens from Wuhan.

The United States, which flew nearly 200 people out last week, is planning "a handful more flights." Russia was due to start evacuating its citizens on Monday, and Canada said 304 of its citizens were seeking to be flown out.

Chinese-ruled Hong Kong, rocked by months of anti-China protests, announced the closure of four more border crossings with mainland China, leaving just three open.

China's efforts to contain the virus have taken some unexpected, and some might say unnerving, forms.

A video clip posted on the microblogging website Weibo showed people playing mahjong in a village near the city of Chengdu being spotted by a camera mounted on a patrolling drone.

"Playing mahjong outside is banned during the epidemic!" an official tells the villagers through a loudspeaker. "You have been spotted."

For a graphic comparing coronavirus outbreaks, see https://tmsnrt.rs/2GK6YVK.

For more coronavirus news click here. https://graphics.reuters.com/CHINA-HEALTH/0100B59Y39P/index.html

(Graphic: Tracking the novel coronavirus - https://graphics.reuters.com/CHINA-HEALTH-MAP/0100B59S39E/index.html)

China to allow in U.S. health experts as virus shows no sign of slowing
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (36)
Andrew carson
Andrew carson Feb 04, 2020 7:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
And markets are set to open up... um ok
Barnett Lee
Barnett Lee Feb 04, 2020 5:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Just trade the trend.
SixPro Minote
SixPro Minote Feb 03, 2020 10:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No means to stop the outbreak in china, this will lead to a great revolution and eventually the perish of chinese communist party.
Chris Sundo
Chris Sundo Feb 03, 2020 10:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
your words in God's ear, man!
Adamo Nals
Adamo Nals Feb 03, 2020 7:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sars i meant*
Adamo Nals
Adamo Nals Feb 03, 2020 7:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I’m assuming all of you commenting on millennials and just don’t understand or remember sores which we have far surpassed and how fast this will explode. On top of the economic disaster for companies worldwide because China is the number to economic powerhouse on the globe as opposed to 2002 when Soris broke out they were nothing. Wake up. The Fed is not going to save you every single day. Don’t be brainwashed into thinking The markets are at the correct level. It’s so ridiculous and irrational exuberance that it boggles my mind worse than a 2008 financial crisis. This will become systemic very soon because of the implications of the economic slow down worldwide. Wake up
Brent Shields
Brent Shields Feb 03, 2020 6:58PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
ok next flu season lets bar everyone to home ok im a nurse and cant even call in sick hows that
Brent Shields
Brent Shields Feb 03, 2020 6:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
fake fake fake news for some agenda...
Brent Shields
Brent Shields Feb 03, 2020 6:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
its not ****** a epidemic isn't 300-400 people dying cause they dont use lysol
Trade The Trend
TradingTheTrend Feb 03, 2020 1:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
China is barring people in the homes, that's not over reacting?
crazy gamer
crazy gamer Feb 03, 2020 1:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
not really it's a global epidemic
Brent Shields
Brent Shields Feb 03, 2020 9:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
80,000 people die of the flu in US every year avcording to cdc
Trade The Trend
TradingTheTrend Feb 03, 2020 9:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
flu has a death rate of 0.5% Coronavirus is 2-4% if the virus spreads, see how many will die
crazy gamer
crazy gamer Feb 03, 2020 9:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Brent Shields
Brent Shields Feb 03, 2020 9:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
math doesnt add up 400 dead in china prob underlying med conditions thats 1 death per 2.7 million people...far from a emergency
Hayrettin Cetinturk
Hayrettin Cetinturk Feb 03, 2020 8:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
short it or stay cash. must be stupid if you dont are the charts. Buffet is also waiting with pile if cash. why? question it!
Matt luck
Matt luck Feb 03, 2020 8:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Buffet said insurance companies always need cash
Hayrettin Cetinturk
Hayrettin Cetinturk Feb 03, 2020 8:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
will see
taylor jason
taylor jason Feb 03, 2020 7:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sounds like China is upset we cut them off. they claim we should make decisions based on science rather than fear. if there is truly nothing to worry about then why are they locking people inside their homes that have become infected?
crazy gamer
crazy gamer Feb 03, 2020 7:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
true also china is all about fear so it doesn't make sense, I mean look at how much they profile their people.
Notvery Goodathis
Peteymcletey Feb 03, 2020 7:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Why fight the current narrative. Buy names like Iqiyi and Huya that are benefiting from people stuck at home in China.
VIVAN DAVIS
VIVAN DAVIS Feb 03, 2020 6:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
China has a billion people start letting your people invest within and watch the Market go higher
C S Miraj
CrudeTrader Feb 03, 2020 6:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wuhan and some other cities remain in virtual lockdown with travel severely restricted, why? it is to restrict spread of virus. Like wise international travel restriction also required for the same reason.
Ron Warren
Ron Warren Feb 03, 2020 6:13AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So much going back and forth over this virus. The majority of China live in absolute poverty and squaller. This is a byproduct! All the world markets closed at record unsubstantiated levels last year. Mathematical laws of the universe will correct these markets one way or another. That includes the U.S.! Wait and see!!
Beyond Bullish Trades
Beyond Bullish Trades Feb 03, 2020 6:13AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Yes. I agree
Andrea Bisi
Andrea Bisi Feb 03, 2020 5:09AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
in Europe in medioeval years we got a lot of wild and painful pests why CLEANING!they told me that baby in China don't use diapers (at least the majority of the poor ones) and when they need to do something they go straight on the roads! can you imagine!!! what a kind of cleaningness there's with a market of live wild animals... sometime even eaten alive!they are preparing the ground for this.also a bioscientist told me : look is simple we destroy the habitat for wild animal. in Africa for example they destroyed the forest and had plantation of trees of fruit, bat had a happy festival all these fruits for free. then what happen... the man in the plantation saw the bat like a succulent dish and asks wife's to cook them a nice dish. and then EBOLA appear.we can't eat wild animal, even the ****and cow can be dangerous .. imagine wild one. you insane eating everything living and sometimes even ALIVE..BRRRRR
Rajan Ranga
Rajan Ranga Feb 03, 2020 3:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
lets not forget an Harvard professor established the lab in Wuhan
chris cp
chris75 Feb 03, 2020 3:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Highly suspected, but no evidence yet.
Tim Mcdaniel
Tim Mcdaniel Feb 03, 2020 2:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
zombies now roaming the earth. the end is here.
Ron Warren
Ron Warren Feb 03, 2020 2:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Yeah! They're buying stock right now!
Tim Mcdaniel
Tim Mcdaniel Feb 03, 2020 2:25AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the general mesage seems to be the world is ending sell now and save what you can.... then they will bid it all up again in three days. until they have all of our money. I'll follow their plan too.
katya litski
katya litski Feb 03, 2020 2:25AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
end of the world is coming. rip
ted lofland
ted lofland Feb 03, 2020 2:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Serously hype
Peter Gwiazda
Peter Gwiazda Feb 03, 2020 1:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What with gold?!!!!!!
rob finch
rob finch Feb 03, 2020 1:06AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Injected liquidity?
Biji Rajaku
Biji Rajaku Feb 03, 2020 1:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I told you guys, the market will rebound soon in this month
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email