The number of people infected with coronavirus across the world surpassed 100,000 on Friday as the outbreak reached more countries and the economic damage intensified, with business districts beginning to empty and stock markets tumbling.

An increasing number of people faced a new reality as many were asked to stay home from work, schools were closed, large gatherings and events were canceled, stores cleared of staples like toiletries and water, and face masks became a common sight.

The outbreak has killed more than 3,400 people and spread across more than 90 nations, with six countries reporting their first cases on Friday.

The virus has radiated across the United States, surfacing in at least four new states plus San Francisco.

More than 2,000 people were stranded on the Grand Princess cruise ship after it was barred from returning to port in San Francisco because at least 35 people aboard developed flu-like symptoms. Test kits were delivered at sea to the vessel.

Moves by some major economies including the United States to cut interest rates and pledge billions of dollars to fight the epidemic have done little to allay fears about the spread of the disease and the economic fallout, with supply chains crippled around the world, especially in China.

In New York, JPMorgan divided its team between central locations and a secondary site in New Jersey while Goldman Sachs sent some traders to nearby secondary offices in Greenwich, Connecticut and Jersey City.

In London, Europe’s financial capital, the Canary Wharf district was unusually quiet. S&P Global’s large office stood empty after the company sent its 1,200 staff home, while HSBC asked around 100 people to work from home after a worker tested positive for the illness. 

“There’s concern that while there has been a response from the Fed, given the nature of the problem, is this something the central bank can really help with?” said John Davies, G10 rates strategist at Standard Chartered Bank in London.

Source:- Reuters