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| Stocks Fall Again as Coronavirus Spreads | Stocks Fall Again as Coronavirus Spreads |
| (4 days later) | |
| Nervousness about the spreading coronavirus gripped Wall Street again on Wednesday, and an early rise in stock prices gave way to a third day of selling this week. | Nervousness about the spreading coronavirus gripped Wall Street again on Wednesday, and an early rise in stock prices gave way to a third day of selling this week. |
| The S&P 500 was down 0.4 percent at the end of trading, bringing its losses for the week to more than 6 percent. Bonds rallied, pushing the yield on the 10-year Treasury note to a record low for a second day, and the price of oil also fell. | The S&P 500 was down 0.4 percent at the end of trading, bringing its losses for the week to more than 6 percent. Bonds rallied, pushing the yield on the 10-year Treasury note to a record low for a second day, and the price of oil also fell. |
| Investors have been contending with the potential for the coronavirus outbreak to disrupt global trade and slow growth, and stock prices around the world have reflected concerns about the virus’s spread outside China. More than 80,000 people have been infected by the virus, which has killed more than 2,700. | Investors have been contending with the potential for the coronavirus outbreak to disrupt global trade and slow growth, and stock prices around the world have reflected concerns about the virus’s spread outside China. More than 80,000 people have been infected by the virus, which has killed more than 2,700. |
| Wednesday began with the S&P 500 rising more than 1.5 percent before giving up those gains. Market observers attributed the change in sentiment to comments from Germany’s health minister that the country was at the beginning of a coronavirus epidemic. | Wednesday began with the S&P 500 rising more than 1.5 percent before giving up those gains. Market observers attributed the change in sentiment to comments from Germany’s health minister that the country was at the beginning of a coronavirus epidemic. |
| Later in the day, officials reported that 83 people in Nassau County, N.Y., just outside New York City, were in voluntary isolation for potential coronavirus exposure. | Later in the day, officials reported that 83 people in Nassau County, N.Y., just outside New York City, were in voluntary isolation for potential coronavirus exposure. |
| Elsewhere, the authorities in Italy are struggling to contain an outbreak that is threatening to disrupt Europe’s fourth-largest economy. Greece and Brazil reported their first cases. Dozens in Iran have died from the virus, with cases spreading across the country’s borders throughout the Middle East. South Korea is working to manage the largest outbreak outside China, with more than 1,200 reported cases. | Elsewhere, the authorities in Italy are struggling to contain an outbreak that is threatening to disrupt Europe’s fourth-largest economy. Greece and Brazil reported their first cases. Dozens in Iran have died from the virus, with cases spreading across the country’s borders throughout the Middle East. South Korea is working to manage the largest outbreak outside China, with more than 1,200 reported cases. |
| As the virus spreads, economists warn the crisis could roil global supply chains and hamper economic growth. Concerned investors are dumping stocks, seeking safer investments like government bonds, pushing prices up and yields down. | As the virus spreads, economists warn the crisis could roil global supply chains and hamper economic growth. Concerned investors are dumping stocks, seeking safer investments like government bonds, pushing prices up and yields down. |
| The focus of this selling has increasingly been stocks in the United States and Europe, where investors had — for weeks — shrugged off the outbreak while it was mostly contained to China. But as the number of cases in China appears to have peaked, outbreaks outside the country are on the rise. | The focus of this selling has increasingly been stocks in the United States and Europe, where investors had — for weeks — shrugged off the outbreak while it was mostly contained to China. But as the number of cases in China appears to have peaked, outbreaks outside the country are on the rise. |
| That has created a “divergence” between so-called developed markets like the United States and emerging markets, like China, that were initially hard hit, said Mark Haefele, the chief investment officer of UBS Global Wealth Management, in a research note to clients. | That has created a “divergence” between so-called developed markets like the United States and emerging markets, like China, that were initially hard hit, said Mark Haefele, the chief investment officer of UBS Global Wealth Management, in a research note to clients. |
| “We believe the divergence we are now seeing between developed- and emerging-market equity performance is indicative of China’s relative success in containing the outbreak, and of the increased uncertainty facing developed markets,” Mr. Haefele wrote. “We expect this divergence to continue.” | “We believe the divergence we are now seeing between developed- and emerging-market equity performance is indicative of China’s relative success in containing the outbreak, and of the increased uncertainty facing developed markets,” Mr. Haefele wrote. “We expect this divergence to continue.” |
| Updated July 7, 2020 | |
| The coronavirus can stay aloft for hours in tiny droplets in stagnant air, infecting people as they inhale, mounting scientific evidence suggests. This risk is highest in crowded indoor spaces with poor ventilation, and may help explain super-spreading events reported in meatpacking plants, churches and restaurants. It’s unclear how often the virus is spread via these tiny droplets, or aerosols, compared with larger droplets that are expelled when a sick person coughs or sneezes, or transmitted through contact with contaminated surfaces, said Linsey Marr, an aerosol expert at Virginia Tech. Aerosols are released even when a person without symptoms exhales, talks or sings, according to Dr. Marr and more than 200 other experts, who have outlined the evidence in an open letter to the World Health Organization. | |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. | Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. |
| A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. | A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. |
| The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. | The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. |
| The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. | The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| President Trump on Wednesday sought to place the blame for the market turbulence on the media outlets CNN and MSNBC, which he said on Twitter were “doing everything possible” to make the virus outbreak look “as bad as possible, including panicking markets, if possible.” He added that the United States was “in great shape.” | President Trump on Wednesday sought to place the blame for the market turbulence on the media outlets CNN and MSNBC, which he said on Twitter were “doing everything possible” to make the virus outbreak look “as bad as possible, including panicking markets, if possible.” He added that the United States was “in great shape.” |
| Energy companies led the selling Wednesday as oil prices declined, while cruise operators including Royal Caribbean and Carnival continued to fall sharply. Both stocks have lost more than 30 percent over the past month. | Energy companies led the selling Wednesday as oil prices declined, while cruise operators including Royal Caribbean and Carnival continued to fall sharply. Both stocks have lost more than 30 percent over the past month. |
| After the close of trading on Wednesday, Microsoft warned investors that it would not be able to meet its sales forecasts for its personal computing business, because “the supply chain is returning to normal operations at a slower pace than anticipated.” | After the close of trading on Wednesday, Microsoft warned investors that it would not be able to meet its sales forecasts for its personal computing business, because “the supply chain is returning to normal operations at a slower pace than anticipated.” |
| Microsoft’s shares, which rose during regular trading on Wednesday, fell in after-hours trading. | Microsoft’s shares, which rose during regular trading on Wednesday, fell in after-hours trading. |
| In the oil market, West Texas intermediate, the American benchmark, dipped below $50 a barrel during trading on Wednesday. Brent crude, the international benchmark, was under $55 a barrel. | In the oil market, West Texas intermediate, the American benchmark, dipped below $50 a barrel during trading on Wednesday. Brent crude, the international benchmark, was under $55 a barrel. |
| The Associated Press contributed reporting. | The Associated Press contributed reporting. |