The coronavirus outbreak, linked to the virus now-named COVID-19, has sickened nearly 90,000 worldwide, with most infections occurring in China, the virus’s origin point, though rapidly spreading across the globe, including major outbreaks in Iran and Italy.
The virus, which causes a respiratory disease similar to influenza, spreads through respiratory droplets emitted from the body during sneezing and coughing. Cases can develop into pneumonia and possibly turn fatal. The fatality rate for the disease is estimated at 1-3%.
The prospect of a pandemic, in which the disease infects a significant population in most areas of the world, has sent shockwaves through the global markets, with many indices having their worst week since the financial crisis in 2008. The S&P 500 and the DJIA both fell around 10% this past week, with the DJIA shedding 3500 points.
In addition, concerns over the availability of health supplies, such as face masks, have surfaced as many of these products are made in China, specifically in Hubei Province, the epicenter of the outbreak.
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