Schools shut, travel curbed as world races to fight coronavirus

Timeline: How the coronavirus spread

Australian Prime Minister Scott Morrison ordered hospitals to ensure sufficient medical supplies, protective gear and staff. U.S. President Donald Trump put his vice president, Mike Pence, in charge of America’s response, while France’s President Emmanuel Macron rallied the nation.

Spooked by the impact on China, the heart of corporate supply chains, and the increasing effect on other countries, stocks sank deeper into the red and oil prices fell. Klaas Knot, seen as one the ECB’s most hawkish members, also expressed concern but noted that after the 2002-03 SARS epidemic, also originating in China, its economy then rebounded to grow from the world’s sixth to its second biggest now.

There is no cure for the virus that can lead to pneumonia, and a vaccine may take up to 18 months to develop. Desperate to stave off a probable recession, Italy warned that the “epidemic of misleading information” could do worse harm than the virus itself.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chris Martin Goes Back to School in Coldplay's Magical 'Champion of the World' Video: WatchColdplay's new video for 'Champion of the World finds singer Chris Martin slipping into short pants and a baseball hat to relive the traumas and triumphs of childhood.
Read more »

Saudi Arabia halts pilgrimages over virusLATEST: Saudi Arabia halts pilgrimages over coronavirus.
Read more »

Coronavirus is threatening to end the world air-travel boomThe coronavirus will be a test for US airlines that have posted 10 consecutive years of profits.
Read more »

'This Will Push Many People Over the Edge'‘This Will Push Many People Over the Edge,’ Parents Warn as Hong Kong Closes Schools Until April Over Coronavirus Fears
Read more »

China reports 29 more virus deaths; Australia warns of 'global pandemic'Beijing reports 433 more cases of new coronavirus and a total of 2,744 deaths, while Australian PM Scott Morrison says the world is about to be gripped by 'a pandemic of coronavirus.'
Read more »

Dashboard of a downturn: coronavirus starts to set off some recession alarm bellsWill China's coronavirus outbreak send the world economy into recession?
Read more »