Corona Virus Feb 12th 2020 Update - New cases top 60k, Death toll doubles
New cases for the corona virus rose sharply in China,
Nearly 15,000 new cases have been reported in a 24-hour period, taking the total number of cases to just under 60,000.
To get an idea of the significance of this, the figure for confirmed new cases for Wednesday was 2,015.
In addition to the rise of new cases, there has also been a significant rise in the death toll in the past 24 hours. More than 245 deaths were recorded on Wednesday (figures published on Thursday). This compares with 97 deaths the previous day.
The big rise in figures today cast a shadow on Beijing’s touted “positive results” from efforts to contain the virus. President Xi Jinping had chaired a meeting of the ruling Politburo Standing Committee after figures showed that the number of new cases dropped on Tuesday and Wednesday.
Wallstreet will likely reassess the economic impact and risks of the Corona virus as up till yesterday, the US markets traded to new all time highs.
This new development will likely cause a shift in market sentiment.
Stay safe
Joseph AuXano
DiNapoli Trading Academy
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Author
Joseph AuXano
Author
Joseph Auxano, is an active trader with more than 13 years of market trading experience. He obtained his degree in Finance from the University of Singapore. His passion for the markets started early. He was already actively involved with the stock markets before landing his first Job as a Trader at a Commodity Trading House in Singapore. His fascination for the markets continued to drive his search for the Holy Grail of Trading, and his research on Fibonacci Techniques. This led him to discovery of DiNapoli Levels in 2007. Since his training under the tutelage of Veteran Trader Joe DiNapoli, he has since developed as a Professional Trainer and a full-time trader. It was with DiNapoli techniques, that he discovered first hand the freedom that came with trading. He has traded the markets out from Toronto, Miami, Siesta Keys, Singapore, and is now trading the markets out of Bangkok Thailand. Joseph Auxano is an Authorized DiNapoli Expert, representing DiNapoli Levels Methodology in the USA, South America and around Asia. In 2019, with the help and approval of Joe DiNapoli, Joseph developed the DiNapoli Academy Online Course, with the goal of helping aspiring traders in their journey with Dinapoli Trading Techniques.
