US will keep in place tariffs on chinese imports for now – Reuters
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First US case of Wuhan Coronavirus this afternoon

  • BREAKING from @CNN – CDC expected to announce first US case of Wuhan Coronavirus this afternoon.

CNN reports that the US Centers for Disease Control and Prevention is expected to announce this afternoon that the first case of Wuhan coronavirus has been reported in the United States, in Washington state, a federal source outside the CDC tells CNN.

Wuhan, the source of the virus, has set up a WuhanPneumonia control centre to prevent the further spread of the disease. The Global Times was reporting yesterday that Wuhan has ordered stronger supervision of markets and public transportation hubs and encouraged the cancellation of unnecessary public gatherings, vowing to release timely updates.

However, such controls have failed to contain the virus and this, as Robert Carnell, Chief Economist Head of Research, Asia-Pacific argued yesterday, “may become a top headline in the coming days and weeks.” Looks as though that unfortunate time has come sooner than expected.

CNN has said that the source is involved in the matter and was made aware of a CDC media briefing scheduled for later today.

The novel virus, which was first identified last month in Wuhan, China, has so far infected more than 300 people and killed six, in an outbreak that has been reported in five countries — now including the United States.

It is unclear if this person recently traveled to China, where and how they became infected, and if this person has transmitted the virus to anyone else in the United States.

Additional reading

Market implications

Gold and yen were bid on the news yesterday in Asia, and gathering some pace in the US session today.  This could be the Black swan event of 2020 in the making…god forbid! Tourism and Airlines will be under pressure.

 


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