Investors are scrambling to adjust their portfolios to price in the virus’ potential for damage to the global economy and assess its further impact on asset prices.
NEW YORK, Feb 27 - Investment-advisors are increasingly worried that U.S. authorities are not doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets.
The CDC states on its website that “as of Feb. 24, CDC teams are working with the Department of Homeland Security at 11 airports where all flights from China are being directed to screen travelers returning to the United States, and to refer them to U.S. health departments for oversight of self-monitoring.”
Worries over the growing number of cases outside China sent the S&P 500 into intraday correction territory on Thursday morning. Stocks took an earlier hit on Wednesday after health officials in Nassau County, New York, said they were monitoring 83 people who visited China and may have come in contact with the coronavirus. Governor Andrew Cuomo said the state has had no confirmed cases so far.
Wuhan, Hubei’s capital, imposed strict controls on movement of residents, then eased them, then later announced that the relaxation had been revoked. Such measures could be more difficult to enforce in the United States.
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