KW: It appears to a superficial observer tht the Coronavirus is picking up pace in its spread with over 800 deaths now reported in just 29 days more thatn the SARS virus outbreak from the entire 2002-2003 SARS outbreak over several months. Maybe this the trigger for a global readjustment in ‘markets’. Down that will be.
Summary:
- Officials reported an additional 81 deaths in Hubei on Saturday, bringing the death toll to 806: more than the total from the entire 2002-2003 SARS outbreak
- WHO reported 31,481 confirmed global cases on Friday, up by 3,000+ cases from Thursday; SCMP says total cases closer to 35k
- First American citizen has died
- First Japanese citizen suspected of succumbing to virus
- France elevates travel advisory to orange after 5 Britons fall ill in ski resort
- Roundup of suspected infected in Wuhan continues
- Beijing appoints Xi protege to help lead virus response
- Vigil for Dr. Li held in Hong Kong
- China blocks Foxconn plan to reopen factories
* * *
Update (1745ET): The coronavirus outbreak has just reached another grim milestone: The death toll has eclipsed that of the 2002-2003 SARS outbreak.
Indeed Mohamed El-Erian, who previously urged investors to resist the temptation to buy this dip, put out another warning out on Friday:
Mohamed A. El-Erian
✔@elerianm
In riding big liquidity-driven #markets, #investors should remember the surfer analogy:
The bigger the wave …
the greater the ride;
the more tempted you are to stay on;
the more uncertain the when and how it breaks; and
Only the best of surfers get off really smoothly.
Source: The Pandemic Isn’t Ending, It’s Just The Beginning Of Global Disorder & Depression | Zero Hedge