Chinese authorities have requested millions of people to go back to work after a prolonged Lunar New Year break. Investors, attentively observing the virus with concerns regarding the global economic effect, had driven Wall Street lower on Friday.
China reported that the total figures of coronavirus deaths in the country got to 908 as of the end of Sunday after 97 more deaths were registered, compared to 89 on Saturday. Here is a futures snapshot at 7:00 p.m. ET (00:00 GMT), posted by The Guardian:
** S&P 500 e-minis were down 13.25 points, or 0.4%, with 54,719 contracts changing hands.
** Nasdaq 100 e-minis were down 49 points, or 0.52%, in volume of 21,984 contracts.
** Dow e-minis <1YMcv1> were down 120 points, or 0.41%, with 9,322 contracts changing hands.
** Benchmark 10-year note futures last rose 5/32 in price.
Coronavirus Took a Toll on the World
Currently, numerous scientific institutes race to find a cure for the deadly pathogen that started spreading from Wuhan, China. Officials from the National Institute of Health (NIH) in the U.S. have stated that trials for the future vaccine could be starting off in approximately three months. They also claimed that researchers had learned from the mistakes they did when SARS appeared back in 2003 when a cure was discovered more than 20 months after the outbreak began, and when it almost ended.
The NIH said in a statement: “While the trajectory of this outbreak is impossible to predict, an effective response requires prompt action from the standpoint of classic public health strategies to the timely development and implementation of effective countermeasures.”
Although the trials are apparently going to start in three months from now, it will take a while until the results of the trials come through and are analyzed. By then, the virus could have infected millions of people all over the world, as specialists warn that the pathogen is spreading rapidly.