Global <a href="https://www.wionews.com/business-economy/equities-and-oil-tank-plunge-as-deadly-coronavirus-triggers-panic-276900">equity markets</a> rebounded in a broad rally on Tuesday and some safe-haven assets eased as investors took a less pessimistic view of the potential economic fallout from China's coronavirus outbreak.

Gold fell and the Japanese yen dipped against the dollar, but risk aversion in currency markets persisted, with the Australian dollar leading losers and the greenback strengthening to an eight-week high against a basket of six rivals.

In a possible warning of a future weak economy, strong gains in US Treasuries this week led key parts of the US yield curve to reinvert, a trend that in the past has indicated that a recession in the United States will follow in a year or two.

Gains in technology and financial shares helped Wall Street recoup some losses from Monday's selloff, which was sparked by worries about the possible economic impact of the coronavirus outbreak.

Major European and US <a href="https://www.wionews.com/business-economy/global-stocks-slide-to-two-week-low-on-china-virus-fears-safe-havens-gain-277082">stock indexes</a> rebounded around 1 per cent as President Xi Jinping said China was sure of defeating a "devil" coronavirus that has killed 106 people.

The World Health Organization's director-general said he is confident China can control the spread of the coronavirus, the Chinese Foreign Ministry said.

Chinese markets will remain closed until next week, but a 0.5 per cent overnight drop in Tokyo's Nikkei was more modest than Monday's thumping. Other Asian markets that were openly rallied.

<img alt="New York Stock Exchange" data-entity-type="file" data-entity-uuid="d117fb1e-7aa3-41a8-a846-ccc1863d6016" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%281%29_65.jpg" /> 
[&nbsp;Traders Anthony Rinaldi (L) and Federico DeMarco (R) work on the floor of the New York Stock Exchange (Courtesy: Reuters) ]

"History shows us as we look back at several different examples that these viral outbreaks tend to be short-lived," said Candice Bangsund, a global asset allocation portfolio manager at Fiera Capital in Montreal. 
While markets should gyrate for a while, the global economy will resume the improving growth it started to exhibit late last year, Bangsund said.

"The economy could be ripe for a sharp snapback or a V-shaped recovery once we find out when this is contained and when the outbreak is indeed brought under control," she said. "We maintain the global economy will come back to life."

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/barclays-sees-2-per-barrel-impact-to-oil-prices-as-virus-fears-threaten-demand-277075">Barclays sees $2 per barrel impact to oil prices as virus fears threaten demand</a>

MSCI's gauge of stocks across the globe gained 0.65 per cent, while its emerging market index lost 0.05 per cent.

Shares on Wall Street also surged. The Dow Jones Industrial Average rose 187.05 points, or 0.66 per cent, to 28,722.85. The S&amp;P 500 gained 32.61 points, or 1.01 per cent, to 3,276.24 and the Nasdaq Composite added 130.37 points, or 1.43 per cent, to 9,269.68.

<a href="https://www.wionews.com/business-economy/oil-rout-extends-to-sixth-day-as-china-virus-death-toll-rises-277073">Oil futures </a>edged up after falling for five days, following the recovery in equities and talk that Organization of the Petroleum Exporting Countries and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. 
Brent futures settled up 19 cents at $59.51 a barrel, while US West Texas Intermediate (WTI) crude settled up 34 cents at $53.48. [O/R]

The yield on the benchmark 10-year US Treasury note bounced off three-month lows after a key part of the yield curve briefly inverted for the first time since October.

The yield fell as low as 1.57 per cent overnight, the lowest since October 10, before the 10-year note pared some losses to fall 13/32 in price and lift its yield to 1.6493 per cent.

An inverted curve, when longer-dated yields fall below shorter-maturity ones, has often been a percussor of a US recession. Eurozone government bond yields bounced off three-month lows to rise for the first time in over a week after US consumer confidence exceeded expectations to hit its highest level since August.

Traders awaited the outcome of a two-day meeting of Federal Reserve policymakers, which started on Tuesday. The market consensus is that the central bank will keep interest rates unchanged at between 1.5 per cent and 1.75 per cent.

The dollar index rose 0.02 per cent, with the euro up 0.03 per cent to $1.1019. The yen weakened 0.24 per cent versus the greenback at 109.15 per dollar. The US gold futures settled down 0.5 per cent at $1,569.8 an ounce.

Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets eased as investors took a less pessimistic view of the potential economic fallout from China's coronavirus outbreak.

Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets eased as investors took a less pessimistic view of the potential economic fallout from China's coronavirus outbreak. Gold fell and the Japanese yen dipped against the dollar, but risk aversion in currency markets persisted, with the Australian dollar leading losers and the greenback strengthening to an eight-week high against a basket of six rivals. In a possible warning of a future weak economy, strong gains in US Treasuries this week led key parts of the US yield curve to reinvert, a trend that in the past has indicated that a recession in the United States will follow in a year or two. Gains in technology and financial shares helped Wall Street recoup some losses from Monday's selloff, which was sparked by worries about the possible economic impact of the coronavirus outbreak. Major European and US stock indexes rebounded around 1 per cent as President Xi Jinping said China was sure of defeating a "devil" coronavirus that has killed 106 people. The World Health Organization's director-general said he is confident China can control the spread of the coronavirus, the Chinese Foreign Ministry said. Chinese markets will remain closed until next week, but a 0.5 per cent overnight drop in Tokyo's Nikkei was more modest than Monday's thumping. Other Asian markets that were openly rallied. [ Traders Anthony Rinaldi (L) and Federico DeMarco (R) work on the floor of the New York Stock Exchange (Courtesy: Reuters) ] "History shows us as we look back at several different examples that these viral outbreaks tend to be short-lived," said Candice Bangsund, a global asset allocation portfolio manager at Fiera Capital in Montreal. While markets should gyrate for a while, the global economy will resume the improving growth it started to exhibit late last year, Bangsund said. "The economy could be ripe for a sharp snapback or a V-shaped recovery once we find out when this is contained and when the outbreak is indeed brought under control," she said. "We maintain the global economy will come back to life." Also Read: Barclays sees $2 per barrel impact to oil prices as virus fears threaten demand MSCI's gauge of stocks across the globe gained 0.65 per cent, while its emerging market index lost 0.05 per cent. Shares on Wall Street also surged. The Dow Jones Industrial Average rose 187.05 points, or 0.66 per cent, to 28,722.85. The S&P 500 gained 32.61 points, or 1.01 per cent, to 3,276.24 and the Nasdaq Composite added 130.37 points, or 1.43 per cent, to 9,269.68. Oil futures edged up after falling for five days, following the recovery in equities and talk that Organization of the Petroleum Exporting Countries and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. Brent futures settled up 19 cents at $59.51 a barrel, while US West Texas Intermediate (WTI) crude settled up 34 cents at $53.48. [O/R] The yield on the benchmark 10-year US Treasury note bounced off three-month lows after a key part of the yield curve briefly inverted for the first time since October. The yield fell as low as 1.57 per cent overnight, the lowest since October 10, before the 10-year note pared some losses to fall 13/32 in price and lift its yield to 1.6493 per cent. An inverted curve, when longer-dated yields fall below shorter-maturity ones, has often been a percussor of a US recession. Eurozone government bond yields bounced off three-month lows to rise for the first time in over a week after US consumer confidence exceeded expectations to hit its highest level since August. Traders awaited the outcome of a two-day meeting of Federal Reserve policymakers, which started on Tuesday. The market consensus is that the central bank will keep interest rates unchanged at between 1.5 per cent and 1.75 per cent. The dollar index rose 0.02 per cent, with the euro up 0.03 per cent to $1.1019. The yen weakened 0.24 per cent versus the greenback at 109.15 per dollar. The US gold futures settled down 0.5 per cent at $1,569.8 an ounce.

Demand for safe havens decreases as global stocks rally in a big rebound

The deadly Coronavirus is at its peak in China and is spreading at a faster rate in other countries. In the city of Kolkata in India medical teams have been set up to screen international cargo ship crew members at its port. This has come after strict instructions from the Ministry Of Health. Watch report:

Medical camps set up in Kolkata to screen coronavirus

Chinese President Xi Jinping met visiting World Health Organisation (WHO) director-general Tedros Adhanom Ghebreyesus in Beijing on January 28. Xi told Tedros that control of the outbreak of the new coronavirus was China's most important task and that the country had full confidence and the capability to win the battle.

Chinese President Xi Jinping meets WHO Director-General to discuss deadly Coronavirus

The coronavirus, which has no effective vaccine or drug to treat it, seems to have met its match; or so claims a Siddha doctor from Tamil Nadu.

Dr Thanikasalam Veni of Rathna Siddha Hospital in Chennai has 25-year of vast experience in field Siddha and Ayurvedic medicines and claims to have formulated a herbal medicine that can cure <a href="https://www.wionews.com/videos/what-are-the-dos-and-donts-of-coronavirus-who-release-guidelines-276827">the coronavirus</a>. "We have formulated medicine from an extract of herbs. It is very effective to cure any type of viral fever," said Dr Veni.

Coronavirus has no medicine. In China's <a href="https://www.wionews.com/videos/coronavirus-death-toll-rises-to-80-in-china-14-cities-under-lockdown-276751">Wuhan </a>where Coronavirus has claimed over 50 lives, experts have no idea how to cure the disease. Our herbal extract medicine is used to treat dengue, multi-organ fever and acute liver fever. We want to tell the World Health Organisation (WHO) and the <a href="https://www.wionews.com/india-news/coronavirus-outbreak-government-holds-meeting-to-discuss-possible-evacuation-of-indians-from-wuhan-276930">Chinese government</a> that our medicine is very effective in treating multi-organ failure in corona fever condition," he stated.

<img alt="China Virus" data-entity-type="file" data-entity-uuid="b50d2bf9-9189-494a-8809-4654910ae308" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2860%29_1.jpg" /> 
[ Citizens of the People's Republic of China are severely affected by the coronavirus (Courtesy: Reuters) ]

The Siddha doctor claimed that the medicine formulated by him along with his team treats infections caused by the virus within 24 hours to 40 hours.

"When we treated the dengue virus with our medicine, many patients with reduced platelets count, acute liver failure, immunity deficiency and low white blood cell (WBC) were cured within 24-40 hours. In coronavirus too I am confident our medicine will be very effective," he said.

Also Read:&nbsp;<a href="https://www.wionews.com/videos/coronavirus-cases-confirmed-in-4-continents-276964">Coronavirus cases confirmed in 4 continents</a>

The doctor said he is willing to help the state and the central government as well as China if required. "If the Centre and state government require then I am ready with medicine. Also, if China wants my contribution I am ready to fly immediately to Wuhan with my medicine which can cure Coronavirus," he stated.

Meanwhile, Tamil Nadu Health Minister C Vijayabaskar said that the state is "well prepared and is taking all precautionary and preventive steps" to tackle any possible infections. "So far, no case has been identified in the state as well as the country. I appeal to the public to not panic," he added.

Coronaviruses (nCoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus is a new strain that has not been previously identified in humans.

Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, the infection can cause pneumonia, severe acute respiratory syndrome, kidney failure, and even death.

The coronavirus, which has no effective vaccine or drug to treat it, seems to have met its match; or so claims a Siddha doctor from Tamil Nadu. Dr Thanikasalam Veni of Rathna Siddha Hospital in Chennai has 25-year of vast experience in field Siddha and Ayurvedic medicines and claims to have formulated a herbal medicine that can cure the coronavirus.

The coronavirus, which has no effective vaccine or drug to treat it, seems to have met its match; or so claims a Siddha doctor from Tamil Nadu. Dr Thanikasalam Veni of Rathna Siddha Hospital in Chennai has 25-year of vast experience in field Siddha and Ayurvedic medicines and claims to have formulated a herbal medicine that can cure the coronavirus. "We have formulated medicine from an extract of herbs. It is very effective to cure any type of viral fever," said Dr Veni. Coronavirus has no medicine. In China's Wuhan where Coronavirus has claimed over 50 lives, experts have no idea how to cure the disease. Our herbal extract medicine is used to treat dengue, multi-organ fever and acute liver fever. We want to tell the World Health Organisation (WHO) and the Chinese government that our medicine is very effective in treating multi-organ failure in corona fever condition," he stated. [ Citizens of the People's Republic of China are severely affected by the coronavirus (Courtesy: Reuters) ] The Siddha doctor claimed that the medicine formulated by him along with his team treats infections caused by the virus within 24 hours to 40 hours. "When we treated the dengue virus with our medicine, many patients with reduced platelets count, acute liver failure, immunity deficiency and low white blood cell (WBC) were cured within 24-40 hours. In coronavirus too I am confident our medicine will be very effective," he said. Also Read: Coronavirus cases confirmed in 4 continents The doctor said he is willing to help the state and the central government as well as China if required. "If the Centre and state government require then I am ready with medicine. Also, if China wants my contribution I am ready to fly immediately to Wuhan with my medicine which can cure Coronavirus," he stated. Meanwhile, Tamil Nadu Health Minister C Vijayabaskar said that the state is "well prepared and is taking all precautionary and preventive steps" to tackle any possible infections. "So far, no case has been identified in the state as well as the country. I appeal to the public to not panic," he added. Coronaviruses (nCoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus is a new strain that has not been previously identified in humans. Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, the infection can cause pneumonia, severe acute respiratory syndrome, kidney failure, and even death.

Can cure coronavirus with Ayurveda, claims Tamil Nadu doctor

Three persons, suspected of being affected by the new deadly coronavirus, have been kept under observation at an isolation ward of Ram Manohar Lohia (RML) Hospital in Delhi. All three of them are Indians who had returned from China. Meanwhile, the death toll due to the coronavirus outbreak has reached 106 and over 13,000 new cases have surfaced in China.

Three suspected cases of coronavirus in New Delhi

Hong Kong has confirmed the eighth case the deadly coronavirus with 77 more suspected cases. The Hong Kong government has announced that all public, cultural and leisure facilities are closed under further notice. All schools have been closed. The Disney Land and Ocean park are also closed.

Hong Kong confirms 8th case of coronavirus, Hubei residents banned

The coronavirus has created a global panic has now claimed 106 lives in China and more than 4000 people have contracted the disease so far. 1300 new cases have been reported in the last 24 hours. In a controversial statement, the mayor of Wuhan has now accepted that the cities management to the outbreak was not good enough. Watch report:

Wuhan Mayor vows to take any responsibility for city lockdown to bring epidemic under control

The coronavirus is spreading fast and has generated an atmosphere of fear. Authorities in several nations across the world are working towards controlling this outbreak. The total number of cases outside mainland China is currently 60. Germany has now confirmed its very first case of the virus, Canada has confirmed the second case and US has confirmed the first case. Watch report:

Coronavirus cases confirmed in 4 continents

Oil futures were set for a sixth day of losses as the death toll from a virus in China rose, but the heavy sell-off of recent sessions was curbed by output outages in Libya and OPEC comments designed to calm demand fears.

Oil futures were set for a sixth day of losses as the death toll from a virus in China rose, but the heavy sell-off of recent sessions was curbed by output outages in Libya and OPEC comments designed to calm demand fears. Brent crude was down 51 cents at $58.81 a barrel at 0925 GMT, having hit a three-month low of $58.50 on Monday as the virus outbreak triggered a global sell-off of riskier assets. US West Texas Intermediate was down 32 cents at $52.82 a barrel, after slipping to its lowest since early October in the previous session at $52.13. Both contracts are on track for their worst monthly falls since May. The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China. Oil investors are concerned that travel advisories, other restrictions and any sizable impact on growth in China and elsewhere will dampen demand for crude and related products against a backdrop of plentiful supply. Also Read: Oil prices slip over China virus fears Japan, one of the world's top oil buyers, warned about the risks to its economy from the virus, and Asian stock markets continued to suffer. As the oil price fell below that seen during a December meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, Saudi Arabia said on Monday the group could respond to any changes in demand. Saudi and other OPEC producers, however, sought to downplay demand concerns resulting from the virus outbreak. The group known as OPEC+ agreed in December to widen their supply cuts by 500,000 barrels per day (BPD) to 1.7 million BPD until the end of March. While markets wait for an update on China's oil demand, one eye is on Libya where output is down by nearly 75 per cent to just below 300,000 BPD amid the most extensive oil blockade for years. "Markets need to get a proper assessment of oil demand in China," said Olivier Jakob of consultancy Petromatrix. "And as long as Libya continues to be shut, OPEC probably does not need to do anything."

Oil rout extends to sixth day as China virus death toll rises

Barclays said on Tuesday oil prices will be impacted by $2 per barrel on the potential economic fallout from the coronavirus outbreak in China. More than 100 people have died and over 4,000 cases of the new virus have been confirmed in China, leading authorities to increase preventive measures, impose travel restrictions and also extend the Lunar New Year holidays to limit the spread of the virus.

Barclays said on Tuesday oil prices will be impacted by $2 per barrel on the potential economic fallout from the coronavirus outbreak in China. More than 100 people have died and over 4,000 cases of the new virus have been confirmed in China, leading authorities to increase preventive measures, impose travel restrictions and also extend the Lunar New Year holidays to limit the spread of the virus. The bank sees a $2 per barrel downside to their full-year Brent and WTI forecasts of $62 per barrel and $57 per barrel, respectively. Compounding the effects of the spillover to economic growth from China and the region, Barclays expects transitory oil demand erosion of about 0.6-0.8 million barrels per day (mb/d) in the first quarter of this year or 0.2 mb/d for the full year. "If air passenger traffic in China declined by half in the first quarter of 2020, it would likely lead to a 300,000 barrels per day year on year decline in jet-kerosene demand from China," the bank said adding the fall in road transport would likely be less severe than in the past given reduced reliance on buses. Also Read: Oil prices slide 2% over glut forecast, China virus worries Barclays expects the Organisation of the Petroleum Exporting Countries (OPEC) and other allies to step in and take further measures to keep the markets tight, in case the fall in demand is more acute. Oil prices have been down for the last six sessions, but the bank said that the market reaction was likely overdone. Barclays said the actual economic fallout from the coronavirus could be less severe than the 2003 SARS outbreak, given that the new virus seems less lethal than SARS so far and the measures taken by Chinese authorities. The bank said the geopolitical risks to global supplies remain high as US-Iran tensions could continue to gradually escalate and oil production in Libya could fall further if the blockade of key infrastructure facilities continues. Brent crude prices are currently trading around $59 per barrel and US WTI at around at $53 per barrel.

Barclays sees $2 per barrel impact to oil prices as virus fears threaten demand

Stocks markets tumbled worldwide on Monday as investor worries about the potential economic <a href="https://www.wionews.com/business-economy/oil-slips-to-62-heads-for-weekly-loss-on-china-virus-concerns-276358">impact of the coronavirus</a> drove up prices of safe-haven assets such as the Japanese yen and government debt.

China's yuan slid to a 2020 low and commodity-linked currencies such as the Australian dollar fell on <a href="https://www.wionews.com/business-economy/global-stocks-edge-up-oil-drops-as-china-virus-worries-abate-276176">mounting concern about the coronavirus</a>. The yen was the main beneficiary, though its move higher was limited. Crude prices dropped below $60 a barrel for the first time in nearly three months, while gold prices surged 1 per cent to nearly a three-week high before paring gains.

Benchmark US&nbsp;Treasury yields fell to lows last seen in early October while the yield on 10-year German bunds, the eurozone benchmark, fell to the lowest in almost two months. Key indexes for British, French and German <a href="https://www.wionews.com/business-economy/china-virus-could-hit-oil-prices-by-3-per-barrel-goldman-275924">equity markets slid</a> more than 2 per cent, as did pan-European markets. Stocks on Wall Street fell more than 1 per cent.

Major markets in Asia, including China, Hong Kong, Taiwan, South Korea, Singapore and Australia, were closed on Monday. MSCI's gauge of stocks across the globe shed 1.62 per cent to a three-week low, while its emerging market index lost 1.59 per cent. The broad FTSEurofirst 300 index in Europe closed down 2.26 per cent at 1,619.00, while the pan-European STOXX 600 index fell by the same amount.

More than 97 per cent of stocks in the STOXX 600 fell, with many tumbling from record highs. The rout wiped about 180 billion euros ($198.3 billion) of market capitalisation from the index. US stocks fell a bit less. The Dow Jones Industrial Average fell 453.93 points, or 1.57 per cent, to 28,535.8. The S&amp;P 500 lost 51.84 points, or 1.57 per cent, to 3,243.63 and the Nasdaq Composite dropped 175.60 points, or 1.89 per cent, to 9,139.31.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/equities-and-oil-tank-plunge-as-deadly-coronavirus-triggers-panic-276900">Equities and oil tank plunge as deadly coronavirus triggers panic</a>

The Nasdaq had its biggest one-day decline since August 23 while for the Dow it was the biggest since October 2, closing lower for a fifth straight day in its longest losing streak since a five-day decline ending last August. The S&amp;P 500 also posted its biggest daily drop since October 2.

Wall Street was overdue for a correction, said David Kelly, chief global strategist at JPMorgan Funds in New York. "We have a slow and steady economy, a giddy and fast market and eventually those two things have to meet in the middle somewhere," he added.

The benchmark S&amp;P 500 rose more than 12 per cent from the end of September to an all-time high last week. "The market was due for a fall and coronavirus is a perfect case of an unknown. An increase in uncertainty causes the market to fall but the real question here does it affect the global economy?" he said.

Still, the potential for the virus to spread exponentially was cause for concern, said Matt Weller, global head of market research at GAIN Capital in Grand Rapids, Michigan. Whether the virus scales to epidemic proportions "remains to be seen, but certainly that's not priced into markets," he said.

China extended its Lunar New Year holiday and the Shanghai stock exchange said it will reopen February 3. More big businesses in China shut down and told staff to work from home as the death toll rose to 81. The Nikkei share average in Tokyo slumped 2.03 per cent, its biggest percentage fall since August, with tourism shares hard hit.

Infections could continue to rise, China's National Health Commission said on Sunday. The total number of confirmed cases in China rose to 2,835. Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York said investors are scared that the virus could lead to an economic slowdown but at the moment the market has overreacted.

"The market has been waiting for some sort of sell-off to develop after a roughly 30 per cent year and for a reason for it to happen," Pavlik said. Oil prices fell about 2 per cent after earlier sliding more than 3 per cent.

Brent crude slid $1.37 a barrel to settle down at $59.32, its lowest since late October and the biggest intra-day fall since January 8. US crude fell $1.05 to settle at $53.14 a barrel. US Treasury prices advanced, pushing their yield lower. Benchmark 10-year Treasury notes rose 23/32 in price to yield 1.6012 per cent.

The benchmark 10-year Bund yield fell 5 bps to -0.414 per cent. Yields on tax-exempt municipal slid to all-time lows. The new 10-year MMD AAA GO yield of 1.18 per cent slid below the previous record low of 1.21 per cent set last August.

In the currency market, the dollar index rose 0.08 per cent, with the euro down 0.05 per cent to $1.1018. The yen strengthened 0.36 per cent versus the greenback at 108.89 per dollar. US gold futures settled 0.3 per cent higher at $1,577.4 an ounce, as spot gold climbed to $1,586.43 earlier in the session, the highest level since January 8. 
&nbsp;

Stocks markets tumbled worldwide on Monday as investor worries about the potential economic impact of the coronavirus drove up prices of safe-haven assets such as the Japanese yen and government debt.

Stocks markets tumbled worldwide on Monday as investor worries about the potential economic impact of the coronavirus drove up prices of safe-haven assets such as the Japanese yen and government debt. China's yuan slid to a 2020 low and commodity-linked currencies such as the Australian dollar fell on mounting concern about the coronavirus. The yen was the main beneficiary, though its move higher was limited. Crude prices dropped below $60 a barrel for the first time in nearly three months, while gold prices surged 1 per cent to nearly a three-week high before paring gains. Benchmark US Treasury yields fell to lows last seen in early October while the yield on 10-year German bunds, the eurozone benchmark, fell to the lowest in almost two months. Key indexes for British, French and German equity markets slid more than 2 per cent, as did pan-European markets. Stocks on Wall Street fell more than 1 per cent. Major markets in Asia, including China, Hong Kong, Taiwan, South Korea, Singapore and Australia, were closed on Monday. MSCI's gauge of stocks across the globe shed 1.62 per cent to a three-week low, while its emerging market index lost 1.59 per cent. The broad FTSEurofirst 300 index in Europe closed down 2.26 per cent at 1,619.00, while the pan-European STOXX 600 index fell by the same amount. More than 97 per cent of stocks in the STOXX 600 fell, with many tumbling from record highs. The rout wiped about 180 billion euros ($198.3 billion) of market capitalisation from the index. US stocks fell a bit less. The Dow Jones Industrial Average fell 453.93 points, or 1.57 per cent, to 28,535.8. The S&P 500 lost 51.84 points, or 1.57 per cent, to 3,243.63 and the Nasdaq Composite dropped 175.60 points, or 1.89 per cent, to 9,139.31. Also Read: Equities and oil tank plunge as deadly coronavirus triggers panic The Nasdaq had its biggest one-day decline since August 23 while for the Dow it was the biggest since October 2, closing lower for a fifth straight day in its longest losing streak since a five-day decline ending last August. The S&P 500 also posted its biggest daily drop since October 2. Wall Street was overdue for a correction, said David Kelly, chief global strategist at JPMorgan Funds in New York. "We have a slow and steady economy, a giddy and fast market and eventually those two things have to meet in the middle somewhere," he added. The benchmark S&P 500 rose more than 12 per cent from the end of September to an all-time high last week. "The market was due for a fall and coronavirus is a perfect case of an unknown. An increase in uncertainty causes the market to fall but the real question here does it affect the global economy?" he said. Still, the potential for the virus to spread exponentially was cause for concern, said Matt Weller, global head of market research at GAIN Capital in Grand Rapids, Michigan. Whether the virus scales to epidemic proportions "remains to be seen, but certainly that's not priced into markets," he said. China extended its Lunar New Year holiday and the Shanghai stock exchange said it will reopen February 3. More big businesses in China shut down and told staff to work from home as the death toll rose to 81. The Nikkei share average in Tokyo slumped 2.03 per cent, its biggest percentage fall since August, with tourism shares hard hit. Infections could continue to rise, China's National Health Commission said on Sunday. The total number of confirmed cases in China rose to 2,835. Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York said investors are scared that the virus could lead to an economic slowdown but at the moment the market has overreacted. "The market has been waiting for some sort of sell-off to develop after a roughly 30 per cent year and for a reason for it to happen," Pavlik said. Oil prices fell about 2 per cent after earlier sliding more than 3 per cent. Brent crude slid $1.37 a barrel to settle down at $59.32, its lowest since late October and the biggest intra-day fall since January 8. US crude fell $1.05 to settle at $53.14 a barrel. US Treasury prices advanced, pushing their yield lower. Benchmark 10-year Treasury notes rose 23/32 in price to yield 1.6012 per cent. The benchmark 10-year Bund yield fell 5 bps to -0.414 per cent. Yields on tax-exempt municipal slid to all-time lows. The new 10-year MMD AAA GO yield of 1.18 per cent slid below the previous record low of 1.21 per cent set last August. In the currency market, the dollar index rose 0.08 per cent, with the euro down 0.05 per cent to $1.1018. The yen strengthened 0.36 per cent versus the greenback at 108.89 per dollar. US gold futures settled 0.3 per cent higher at $1,577.4 an ounce, as spot gold climbed to $1,586.43 earlier in the session, the highest level since January 8.

Global stocks slide to two-week low on China virus fears, safe havens gain

&nbsp;A group of Pakistani students stuck in the Chinese city of Wuhan, the <a href="https://www.wionews.com/world/coronavirus-outbreak-deadly-virus-continues-to-spread-outside-china-276966">epicentre of the coronavirus</a>, has requested the Imran Khan government to make efforts to rescue them from the Hubei province of China, according to a media report.

Wuhan has been under virtual lockdown for days, with transport suspended and citizens told to stay home as the <a href="https://www.wionews.com/world/in-virus-hit-ghost-town-stranded-thai-student-waits-for-help-276962">death toll from the viral epidemic</a> that originated in the city soared to 106 and the confirmed cases of pneumonia caused by the outbreak stand at 4,515.

Hafsah Tayab, one of the students stuck in the city of Wuhan,&nbsp;confirmed that other countries are planning to get their citizens out of the city through aeroplanes.

"Embassies of other countries (excluding Pakistan) are rescuing their citizens. There are over 500 Pakistani students in Wuhan. If even one of them gets affected, the others will be in danger," she was quoted as saying by the report on Monday.

"There is a shortage of essentials and if this situation persists, we will run out of food very soon," Tayab said in a video message uploaded on social media, adding that she and her fellow students have been confined to the city.

New infections are being reported as many countries step up efforts to evacuate their citizens from Wuhan. The US, Germany and France are among several countries planning to take such measures.

Also Read:&nbsp;<a href="https://www.wionews.com/videos/wuhan-mayor-vows-to-take-any-responsibility-for-city-lockdown-to-bring-epidemic-under-control-276963">Wuhan Mayor vows to take any responsibility for city lockdown to bring epidemic under control</a>

"We plead that the authorities take notice of our situation on a humanitarian basis and do something about it. We will be grateful to you all our lives," another student can be heard saying in the video. According to a student from the Wuhan University of Science and Technology, there are about 200 Pakistani students in the institute, and a total of 2,000 in other universities of the city.

"A few days ago, Pakistani students stuck in Wuhan were very scared. However, the Pakistani embassy in Beijing has made efforts to provide us with what we need," Tayab was quoted as saying by the Geo News.

"The Pakistani authorities have assured us that they will get us out of the city like other countries," Tayab added.

The Foreign Office (FO) has confirmed that efforts are being made to help out the students.

"The officials are in constant touch with Chinese authorities to make necessary arrangements for Pakistanis struck in affected areas, and a special briefing for all the embassies in Beijing has been scheduled today," Foreign Office Spokesperson Aaisha Forooqui said.

A group of Pakistani students stuck in the Chinese city of Wuhan, the epicentre of the coronavirus, has requested the Imran Khan government to make efforts to rescue them from the Hubei province of China, according to a media report.

A group of Pakistani students stuck in the Chinese city of Wuhan, the epicentre of the coronavirus, has requested the Imran Khan government to make efforts to rescue them from the Hubei province of China, according to a media report. Wuhan has been under virtual lockdown for days, with transport suspended and citizens told to stay home as the death toll from the viral epidemic that originated in the city soared to 106 and the confirmed cases of pneumonia caused by the outbreak stand at 4,515. Hafsah Tayab, one of the students stuck in the city of Wuhan, confirmed that other countries are planning to get their citizens out of the city through aeroplanes. "Embassies of other countries (excluding Pakistan) are rescuing their citizens. There are over 500 Pakistani students in Wuhan. If even one of them gets affected, the others will be in danger," she was quoted as saying by the report on Monday. "There is a shortage of essentials and if this situation persists, we will run out of food very soon," Tayab said in a video message uploaded on social media, adding that she and her fellow students have been confined to the city. New infections are being reported as many countries step up efforts to evacuate their citizens from Wuhan. The US, Germany and France are among several countries planning to take such measures. Also Read: Wuhan Mayor vows to take any responsibility for city lockdown to bring epidemic under control "We plead that the authorities take notice of our situation on a humanitarian basis and do something about it. We will be grateful to you all our lives," another student can be heard saying in the video. According to a student from the Wuhan University of Science and Technology, there are about 200 Pakistani students in the institute, and a total of 2,000 in other universities of the city. "A few days ago, Pakistani students stuck in Wuhan were very scared. However, the Pakistani embassy in Beijing has made efforts to provide us with what we need," Tayab was quoted as saying by the Geo News. "The Pakistani authorities have assured us that they will get us out of the city like other countries," Tayab added. The Foreign Office (FO) has confirmed that efforts are being made to help out the students. "The officials are in constant touch with Chinese authorities to make necessary arrangements for Pakistanis struck in affected areas, and a special briefing for all the embassies in Beijing has been scheduled today," Foreign Office Spokesperson Aaisha Forooqui said.

Pakistan students stuck in China's Wuhan request government for their immediate evacuation

Prime Minister Imran Khan has directed to convene a high-level inter-ministerial meeting to discuss preventive measures against the <a href="https://www.wionews.com/world/coronavirus-outbreak-wuhan-mayor-predicts-1000-more-infected-with-virus-276704">deadly coronavirus</a> and formulate a comprehensive strategy to tackle the threat.

The <a href="https://www.wionews.com/world/singapore-says-china-virus-outbreak-will-hit-its-economy-this-year-276798">deadly novel virus</a>, which causes pneumonia-like illness, has already killed 106 people and infected more than 4,515 others in China.

The high-level meeting would be chaired by Special Assistant to the Prime Minister (SAPM) on Health Dr Zafar Mirza, according to the Prime Minister's office.

Khan directed that the outcome of the meeting along with firm recommendations shall be furnished to his office within one week, as per reports.

His office stated that due to the presence of a large number of Chinese citizens in Pakistan and frequent travel between the two countries, the spread of coronavirus in Pakistan cannot be ruled out if necessary precautionary measures are not put in place.

Also Read:&nbsp;<a href="https://www.wionews.com/photos/beyond-china-tracking-deadly-coronavirus-outbreak-276564">Beyond China: Tracking deadly coronavirus outbreak</a>

Meanwhile, Chinese Ambassador Yao Jing, in a video statement, said that Chinese and Pakistani governments are working closely and 500 Pakistani citizens in Wuhan city of Hubei province are safe and being looked after.

"So far three suspicious cases in the Chinese community have been reported in Pakistan, but none of them has been confirmed. We have confidence and determination that we will overcome this difficult time and will return to normal life very soon," Yao said.

Meanwhile, the Islamabad International Airport management has sought two more "virus detection scanners".

An eight-member health department team has been monitoring the passengers arriving from Beijing. All the passengers are passed through the virus detection scanners and also checked by thermal guns.

The coronavirus, officially known as 2019-nCoV, was first reported in Hubei province's capital city Wuhan and has spread throughout China and around the world including the US, Australia and South Korea.

There are 41 incoming flights from China to Pakistan every week, mostly taking away and bringing the Chinese. Thousands of Chinese nationals who are working on projects in various cities in Pakistan as part of the China-Pakistan Economic Corridor regularly travel between the two countries, raising fears they could spread the disease.

The coronavirus has caused alarm because of its similarity to SARS (Severe Acute Respiratory Syndrome), which killed nearly 650 people across mainland China in 2002-2003.

Prime Minister Imran Khan has directed to convene a high-level inter-ministerial meeting to discuss preventive measures against the deadly coronavirus and formulate a comprehensive strategy to tackle the threat.

Prime Minister Imran Khan has directed to convene a high-level inter-ministerial meeting to discuss preventive measures against the deadly coronavirus and formulate a comprehensive strategy to tackle the threat. The deadly novel virus, which causes pneumonia-like illness, has already killed 106 people and infected more than 4,515 others in China. The high-level meeting would be chaired by Special Assistant to the Prime Minister (SAPM) on Health Dr Zafar Mirza, according to the Prime Minister's office. Khan directed that the outcome of the meeting along with firm recommendations shall be furnished to his office within one week, as per reports. His office stated that due to the presence of a large number of Chinese citizens in Pakistan and frequent travel between the two countries, the spread of coronavirus in Pakistan cannot be ruled out if necessary precautionary measures are not put in place. Also Read: Beyond China: Tracking deadly coronavirus outbreak Meanwhile, Chinese Ambassador Yao Jing, in a video statement, said that Chinese and Pakistani governments are working closely and 500 Pakistani citizens in Wuhan city of Hubei province are safe and being looked after. "So far three suspicious cases in the Chinese community have been reported in Pakistan, but none of them has been confirmed. We have confidence and determination that we will overcome this difficult time and will return to normal life very soon," Yao said. Meanwhile, the Islamabad International Airport management has sought two more "virus detection scanners". An eight-member health department team has been monitoring the passengers arriving from Beijing. All the passengers are passed through the virus detection scanners and also checked by thermal guns. The coronavirus, officially known as 2019-nCoV, was first reported in Hubei province's capital city Wuhan and has spread throughout China and around the world including the US, Australia and South Korea. There are 41 incoming flights from China to Pakistan every week, mostly taking away and bringing the Chinese. Thousands of Chinese nationals who are working on projects in various cities in Pakistan as part of the China-Pakistan Economic Corridor regularly travel between the two countries, raising fears they could spread the disease. The coronavirus has caused alarm because of its similarity to SARS (Severe Acute Respiratory Syndrome), which killed nearly 650 people across mainland China in 2002-2003.

Pakistan to convene high-level meet to discuss preventive measures against coronavirus

Coronovirus Disinformation: Battle against fake news amid outbreak

The new strain of coronavirus spreading across China claimed its first victim in Beijing, officials said on Tuesday.

Coronavirus Outbreak: China Records 1st Virus Death In Beijing | WION News | World News

One person has been suspected to have been infected by the deadly coronavirus in the Indian city of Bihar. The suspect is a girl who had returned from China and she has been admitted to the ICU after symptoms appearing similar to the coronavirus infection. On person in Rajasthan has been suspected of the same.

Suspected cases of coronavirus in Bihar, Rajasthan

The death toll from a coronavirus outbreak in China rose to 81 on Monday (January 27), as the government extended the Lunar New Year holiday and more big businesses shut down or told staff to work from home in an effort to curb the spread.

China extends Spring Festival holiday to contain coronavirus outbreak

Some Indians who are trapped in the Chinese city of Wuhan, where the deadly coronavirus is on its peak have sought help from the Indian government to get them back to India as their food supplies have also finished. Watch video:

Trapped Indians in Wuhan seek help from Indian govt

Parents of the Indian students stuck in the Chinese city Wuhan are extremely worried about the well being of their children. One of the parents in Bengaluru, whose daughter studies in Wuhan has said that she could not manage to come back home despite multiple attempts. Watch report:

Indian students unable to return home from Wuhan, Parents seek help

The death toll from the deadly coronavirus has now risen to 80 and according to the latest that is coming in at least 2700 people are said to be infected so far. This has made the situation even graver and Wuhan's Mayor has now said that 1000 more cases of coronavirus could be expected.

Coronavirus death toll rises to 80 in China, 14 cities under lockdown

The life taking deadly coronavirus that emerged from China is spreading on a faster rate. The World Health organisation (WHO) has published a range of interim guidelines and measures that all countries should adopt in order to prepare and deal with coronavirus. Watch video:

What are the do's and don'ts of coronavirus, WHO release guidelines

The coronavirus death toll has risen to 80 in China and as many as 2744 people have been infected by this deadly virus. What is unfolding on the ground in China, WION's correspondent gets you the latest.

WHO Director-General travels to China as coronavirus deaths rise

At the epicentre of the deadly coronavirus, lies Wuhan, the largest city in central China. Wuhan's mayor has said that thousand more cases of coronavirus are expected in the near future with almost 11 million residents in it, the city is under a complete lockdown right now. What is happening inside Wuhan? Watch report:

What is happening inside coronavirus epicentre Wuhan?

The United States is arranging a flight to evacuate personnel and American citizens trapped at the epicentre of a <a href="https://www.wionews.com/world/coronavirus-virus-death-toll-rises-to-56-total-cases-near-2000-276577">deadly virus in central China</a>, the US State Department said on Sunday.

The flight will leave on Tuesday from the city of Wuhan to take consular personnel to San Francisco, the department said in an email to Americans in <a href="https://www.wionews.com/world/hong-kong-declares-coronavirus-emergency-halts-official-visits-to-mainland-china-276488">China</a>, warning that there would be limited space for private citizens.

"This capacity is extremely limited and if there is insufficient ability to transport everyone who expresses interest, priority will be given to individuals at greater risk from <a href="https://www.wionews.com/videos/understanding-novel-coronavirus-ncov-symptoms-and-precautions-276477">coronavirus</a>," the department said.

<img alt="Medical staff attending to patient" data-entity-type="file" data-entity-uuid="4ac83845-fe92-4d28-8544-40cfd85e2b87" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2873%29.jpg" /> 
[&nbsp;Medical staff attending to patient Courtesy: Reuters) ]

Also Read:&nbsp;<a href="https://www.wionews.com/videos/coronavirus-outbreak-3-cases-in-france-1-in-australia-us-expecting-more-cases-276474">Coronavirus Outbreak: 3 cases in France, 1 in Australia, US expecting more cases</a>

Citing unidentified people familiar with the effort, The Wall Street Journal reported earlier that the plane would seat around 230 people. Around 1,000 American citizens are believed to be in Wuhan, the capital of Hubei province, the newspaper said.

France plans to evacuate its citizens stuck in Hubei by bus. The outbreak, which has killed 56 people and infected nearly 2,000 across China, is believed to have originated in a seafood and live animal market in Wuhan.

The city of 11 million people has been placed under effective quarantine for days, with a car traffic ban going into effect on Sunday. Transport restrictions have been expanded across Hubei, corralling some 56 million people in total.

The United States is arranging a flight to evacuate personnel and American citizens trapped at the epicentre of a deadly virus in central China, the US State Department said on Sunday.

The United States is arranging a flight to evacuate personnel and American citizens trapped at the epicentre of a deadly virus in central China, the US State Department said on Sunday. The flight will leave on Tuesday from the city of Wuhan to take consular personnel to San Francisco, the department said in an email to Americans in China, warning that there would be limited space for private citizens. "This capacity is extremely limited and if there is insufficient ability to transport everyone who expresses interest, priority will be given to individuals at greater risk from coronavirus," the department said. [ Medical staff attending to patient Courtesy: Reuters) ] Also Read: Coronavirus Outbreak: 3 cases in France, 1 in Australia, US expecting more cases Citing unidentified people familiar with the effort, The Wall Street Journal reported earlier that the plane would seat around 230 people. Around 1,000 American citizens are believed to be in Wuhan, the capital of Hubei province, the newspaper said. France plans to evacuate its citizens stuck in Hubei by bus. The outbreak, which has killed 56 people and infected nearly 2,000 across China, is believed to have originated in a seafood and live animal market in Wuhan. The city of 11 million people has been placed under effective quarantine for days, with a car traffic ban going into effect on Sunday. Transport restrictions have been expanded across Hubei, corralling some 56 million people in total.

US to evacuate its citizens from China virus epicentre

The total number of coronavirus cases in China reached 2,051 as of 7 p.m. (1100 GMT) on Sunday, Chinese state television reported.

The death toll from the outbreak remained at 56, the report said.

Wuhan's city government will step up construction of specialised hospitals to deal with infected patients, Zhou Xianwang told reporters.

The pressure on supplies of medical goods such as protective suits, masks and glasses had largely eased, he said, thanks in part to increased private donations.

Also read: <a href="https://www.wionews.com/world/china-warns-that-the-ability-of-the-virus-to-spread-is-getting-stronger-276630">China warns that the ability of the virus to spread is getting stronger</a>

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Wuhan, a city of about 11 million and capital of Hubei province, has been under virtual lockdown amid intensifying efforts to contain the outbreak.

Images of hospital corridors packed with people seeking treatment have circulated widely on Chinese social media, and residents have complained of soaring prices on essentials such as vegetables.

Zhou insisted on Sunday that the city's food prices are stable and food supplies are ample.

Hubei Province Governor Wang Xiaodong also told reporters during the briefing he feels "agonised" and responsible for the outbreak.

Also read: <a href="https://www.wionews.com/world/us-to-evacuate-its-citizens-from-china-virus-epicentre-276590">US to evacuate its citizens from China virus epicentre</a>

Meanwhile, a third case of the new coronavirus has been registered in the United States, in Orange County, California, the county's health agency said.

The individual, a traveler from Wuhan, China, is in isolation in hospital and in good condition, it said in a statement.

More than 2,000 people have been infected with the coronavirus, the vast majority in China, where 56 people have died from it.

The total number of coronavirus cases in China reached 2,051 as of 7 p.m. (1100 GMT) on Sunday, Chinese state television reported. The death toll from the outbreak remained at 56, the report said.

The total number of coronavirus cases in China reached 2,051 as of 7 p.m. (1100 GMT) on Sunday, Chinese state television reported. The death toll from the outbreak remained at 56, the report said. Wuhan's city government will step up construction of specialised hospitals to deal with infected patients, Zhou Xianwang told reporters. The pressure on supplies of medical goods such as protective suits, masks and glasses had largely eased, he said, thanks in part to increased private donations. Also read: China warns that the ability of the virus to spread is getting stronger × Wuhan, a city of about 11 million and capital of Hubei province, has been under virtual lockdown amid intensifying efforts to contain the outbreak. Images of hospital corridors packed with people seeking treatment have circulated widely on Chinese social media, and residents have complained of soaring prices on essentials such as vegetables. Zhou insisted on Sunday that the city's food prices are stable and food supplies are ample. Hubei Province Governor Wang Xiaodong also told reporters during the briefing he feels "agonised" and responsible for the outbreak. Also read: US to evacuate its citizens from China virus epicentre Meanwhile, a third case of the new coronavirus has been registered in the United States, in Orange County, California, the county's health agency said. The individual, a traveler from Wuhan, China, is in isolation in hospital and in good condition, it said in a statement. More than 2,000 people have been infected with the coronavirus, the vast majority in China, where 56 people have died from it.

Total number of coronavirus cases in China reaches 2,051: State media

The Prime Minister’s Office (PMO) on January 25 reviewed India’s preparedness to deal with the outbreak of the new coronavirus (nCoV)

India steps up vigilance against nCoV

China banned wildlife trade nationwide in markets, supermarkets, restaurants, and e-commerce platforms due to the <a href="https://www.wionews.com/india-news/wuhan-coronavirus-dos-and-donts-symptoms-276479">coronavirus outbreak</a>, the country's market watchdog, agricultural ministry, and forestry bureau said in a joint statement.

Any places that breed wildlife should be isolated, and the transportation of wildlife should be banned, said the statement. The ban will take effect from Sunday.

The virus which has <a href="https://www.wionews.com/entertainment/chinas-new-year-tv-show-pays-tearful-tribute-to-coronavirus-fighters-urges-victory-276483">infected more than 2,000 people</a> globally and killed 56 people in China has been traced to a seafood market in Wuhan that was illegally selling wildlife.

Also Read:&nbsp;<a href="https://www.wionews.com/world/coronavirus-virus-death-toll-rises-to-56-total-cases-near-2000-276577">Coronavirus virus death toll rises to 56, total cases near 2,000</a>

<img alt="the transmission ability of the coronavirus is getting stronger" data-entity-type="file" data-entity-uuid="bcf7e61e-9833-42f6-b2fb-ec32fc68516c" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2897%29.jpg" /> 
[&nbsp;Members of the media have their temperature checked before attending a news conference&nbsp;about the outbreak of the new coronavirus&nbsp;(Courtesy: Reuters) ]

Meanwhile, China's coastal city of Shantou in Guangdong province, will not ban cars, ships and people from entering the city but will strengthen disease controls such as disinfection efforts, local state media STRTV reported, reversing an earlier government statement.

Shantou, which is more than 800 km (500 miles) from Wuhan city in central China, had also said earlier it would suspend the operation of buses, taxis and ferries from 2 p.m. on Sunday.

China banned wildlife trade nationwide in markets, supermarkets, restaurants, and e-commerce platforms due to the coronavirus outbreak, the country's market watchdog, agricultural ministry, and forestry bureau said in a joint statement.

China banned wildlife trade nationwide in markets, supermarkets, restaurants, and e-commerce platforms due to the coronavirus outbreak, the country's market watchdog, agricultural ministry, and forestry bureau said in a joint statement. Any places that breed wildlife should be isolated, and the transportation of wildlife should be banned, said the statement. The ban will take effect from Sunday. The virus which has infected more than 2,000 people globally and killed 56 people in China has been traced to a seafood market in Wuhan that was illegally selling wildlife. Also Read: Coronavirus virus death toll rises to 56, total cases near 2,000 [ Members of the media have their temperature checked before attending a news conference about the outbreak of the new coronavirus (Courtesy: Reuters) ] Meanwhile, China's coastal city of Shantou in Guangdong province, will not ban cars, ships and people from entering the city but will strengthen disease controls such as disinfection efforts, local state media STRTV reported, reversing an earlier government statement. Shantou, which is more than 800 km (500 miles) from Wuhan city in central China, had also said earlier it would suspend the operation of buses, taxis and ferries from 2 p.m. on Sunday.

China warns that the ability of the virus to spread is getting stronger

Death toll from the deadly coronavirus outbreak has risen to 56 even as the total cases of infected nears 2,000. President Xi Jinping on Sautruday said that with the virus rapidly spreading, China was facing a 'grave situation'.

Death toll from the deadly coronavirus outbreak has risen to 56 even as the total cases of infected nears 2,000. President Xi Jinping on Sautruday said that with the virus rapidly spreading, China was facing a 'grave situation'. Xi chaired a meeting with top officials of the ruling communist party on the prevention and control of the virus outbreak. ''Cina will win the battle against the virus,'' he said. Meanwhile, the Shanghai government has reported the city's first death from the virus. 13 more fatalities and 323 new cases have been reported overnight. A total of 24 provinces, autonomous regions and municipalities across China have launched the highest-level responses to the outbreak tat includes Beijing, Shanghai and the central province of Hubei. × Authorities in these regions are urging the 1.2 billion residents to stay at home to curb the spread. Tianjin -- a city of about 15 million--has now become the second major city to suspend long-distance buses. The announcement comes a day after Beijing announced a similar measure. Meanwhile. Wuhan continues to be under complete lockdown. Police have been stationed at the borders of Wuhan to block the roads preventing any sort of movement into the quarantined city. The city's pharmacies have been swamped by people wanting to stock up on medicines. 450 military medical staff arrived in Wuhan who have experience in handling such situations, having handled the SARS and Ebola epidemic. The medical staff were air-dropped into Wuhan and dispatched to multiple hospitals... China's national health commission has formed six medical teams totalling 1,230 medical staff to help Wuhan. The epidemic has taken its toll on the country in other ways too. Many vendors expressed frustration over a dismal new year season as markets have been desolated on account of the outbreak.

Coronavirus virus death toll rises to 56, total cases near 2,000

The World is One News, WION examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people to explore their world.

WION Speed News: Watch top national and international news of the morning - January 25, 2020

The World Health Organisation says that the Wuhan virus is not yet a global emergency. But the disease has spread to at least six countries. WION's Palki tells you how the world is responding to this crisis.

Gravitas: Wuhan Virus spreads around the world

China has locked down the city of Wuhan. 600 Indian students study there. WION's Palki tells you how India's diplomatic machinery is dealing with the Wuhan virus outbreak.

Wuhan virus: Indians trapped in China | Gravitas

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