On Wednesday, the coronavirus outbreak reached a new milestone when the number of new cases confirmed in the world ex-China finally surpassed the number being confirmed on the mainland. Two days later, and we're almost at the point where the number of Thursday new cases confirmed by Iran was roughly half the total coming out of Wuhan.
South Korea has confirmed an additional 571 cases of the novel coronavirus so far on Friday, bringing its total to 2,337, making it the largest outbreak outside of mainland China.
Nigeria, Africa's most populous country with more than 200 million people, reported the first case in Sub-Saharan Africa late Thursday night (ET). On Friday, Nigerian Health Minister Osagie Ehanire told reporters in Lagos that his government has contacted the airline on which the country's 'patient zero' traveled to try and trace people he came in contact with. Lagos Health Commissioner Akin Abayomi said the patient traveled to Nigeria on Turkish Airlines flight.
"The Markets Are Really Panicking": VIX Explodes, Markets Crash In Worst Week Since Lehman
Friday's market performance has traditionally been the weakest, even during the meltup phase ahead of the recent coronacrash, and as such it will probably not come as a surprise that today's overnight rout which followed the biggest 6-day correction from a peak for the S&P on record...
...compounding their worst crash since the 2008 global financial crisis and pushing the week’s wipeout in value terms to $5 trillion. MSCI’s all country world index, which tracks almost 50 countries, was down more than 1% ahead of U.S. trading and almost 10% for the week - the worst since October 2008.