Summary:
- WHO says outbreak in Iran likely worse than official numbers suggest; outbreak could go in "any direction"
- Iran confirms 22 deaths, vice president for women and family affairs infected
- Salvini meets with Italian president amid national unity government speculation
- South Korean new cases surpass China's new cases as SK confirms 505 new cases
- China, Japan close school nationwide
- CDC fears 'community outbreak' in Sonoma County after discovering first US case of "unknown origin"
- Saudi Arabia suspends pilgrimages to Holy Sites
- Hawaiian Airlines suspends service to South Korea
- Brazil's neighbors take steps to keep virus out
Update (0920ET): The World Health Organization's Dr. Tedros said Thursday during the organization's daily press briefing that "we are at a decisive point" in the epidemic, while others warned it could go "in any direction."
WORLD HEALTH ORGANIZATION (WHO) TEDROS SAYS "WE ARE AT A DECISIVE POINT" IN CORONAVIRUS EPIDEMIC— Quoth the Raven (@QTRResearch) February 27, 2020
This guy has been 6 weeks behind this whole time
Iran has confirmed 22 deaths and more than 140 cases, including a vice president who was the third senior official to catch the virus. But many fear the full extent of the outbreak is much broader. During the press conference, another WHO official singled out Iran, claiming the virus had crept into the country "undetected", before adding that the WHO fears the outbreak inside the country is even worse than the government claims.
Iran "has a very high clinical capacity", said Dr. Mike Ryan, the executive director of the WHO's health emergency program. The 10% death rate probably has more to do with the fact that many cases have gone undiagnosed, he said. The country has gone so far as to cancel Friday prayers in Tehran, after the Saudis told pilgrims they wouldn't be allowed in to the Muslim Holy Sites.
Following European stocks dive into correction territory, in the US, the Dow is on the cusp of falling into correction territory intraday for the first time since December 2018 (remember when?).
As traders digest the implications of the new case in Sonoma County that could be evidence of the first case of "community transmission" in the country, as well as President Trump's rambling press conference on Wednesday, the focus has shifted back to Europe, where in Italy, cases climbed above 500.
According to the FT, Matteo Salvini, the leader of the League, the head of the parliamentary opposition, has met with President Sergio Mattarella as speculation mounts about the prospects for a national unity government to deal with the crisis, following several political missteps by PM Conte.
Dow Tumbles Into 10% Correction As Futures Crash, 10Y Yields Plunge To Record Lows On Pandemic Panic
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