U.N. SG Guterres Urges Countries To Prevent Coronavirus From Impacting Economy; Trump Downplays Outbreak As U.S. Stock Market Plunged Monday

Reuters: World must avert ‘dramatic’ effects of coronavirus on health, economy: U.N.’s Guterres
“United Nations Secretary-General Antonio Guterres on Monday urged countries to prevent the novel coronavirus epidemic from spiraling into a crisis with ‘dramatic consequences’ for global health and the world economy. Guterres, speaking to reporters during a visit to the World Health Organization center for managing emergencies, called for fully funding the WHO’s appeal of $675 million to cover its overall response for three months…” (Nebehay, 2/24).

Washington Post: Market plunge over coronavirus fears underscores political risk to Trump
“As President Trump spent Monday sightseeing in India, the U.S. stock market plunged amid growing concerns about a deadly virus spreading quickly across continents — a split screen that brought into stark relief how the coronavirus is testing the White House and undercutting Trump’s central reelection message. The Trump administration’s disjointed handling of the outbreak has faced mounting criticism as the president’s allies have scrambled to take preventive steps while seeking to reassure the public, at times struggling to explain their decisions and offer a consistent message. The president’s strategy of publicly downplaying the threat that the virus poses to the United States was undermined Monday as the Dow Jones industrial average — a measure he follows closely — shed more than 1,000 points for its largest drop in two years. Investors acted on growing fears of a worldwide pandemic as the virus took hold in multiple countries, threatening to disrupt global commerce…” (Olorunnipa et al., 2/24).

Additional coverage of the coronavirus’s impact on U.S. and global economies is available from the AP, CNBC, NPR, and Reuters.