There’s pandemonium in the markets.
All thanks to an uncontained coronavirus that’s gone global.
At the moment, there are 7,921 confirmed global cases with 170 deaths. South Korea just confirmed its first human to human transmission. Hong Kong is warning of surgical mask shortages. Russia closed its border to China. Up to 6,000 people were just quarantined on a Italian cruise ship.
Multiple cases have now been spotted in Hong Kong, Macau, Taipei, Thailand, Vietnam, South Korea, Singapore, Malaysia, Japan, Australia, France and the United States. Nepal has confirmed one case. Cambodia confirmed its first case, too.
The virus has also made its way to the U.S. In fact, the CDC just confirmed the fifth case in the U.S. – a patient in Arizona who recently traveled to Wuhan, China. The CDC is also monitoring up to 110 possible cases across 26 U.S. states.
The World Health Organization (WHO) may also soon declare a public health emergency, after noting, “the whole world needs to be on alert.” The group will meet today to discuss whether the virus constitutes a global health emergency.
WHO has already said it was “of great concern” to see the virus spreading person-to-person outside of China. A week ago, WHO “declined to give the new virus that designation, which would lead to more resources and greater global coordination in confronting it,” as reported by CBS News.
Stocks likely to run on the escalating issue include:
Alpha Pro Tech (APT), which manufacturers masks and protective clothing.
Inovio Pharmaceuticals (INO) is piquing interest after receiving a grant of up to $9 million from the Coalition for Epidemic Preparedness Innovations (CEPI) to develop a vaccine for the coronavirus. Maxim Group analysts reiterated a buy rating on the stock.
Biocryst Pharmaceuticals (BCRX) is on radar screens, with the company evaluating galidesivir that could potentially treat the coronavirus.
