It’s hard to overstate the threat to markets and the global economy from the coronavirus outbreak. It’s an existential threat that has sewn panic across the globe and wiped out trillions in wealth.
— Our Nancy Cook and Meridith McGraw: “Trump tried to ease Americans’ fears about the potential spread of coronavirus … by putting himself at the center of it all. He cracked wise about his germaphobia, recounted a run-in with a sick friend using a stand-up comedian’s patter, waved around colorful graphs showing America’s superiority on virus containment and listed facts he had just learned about the flu.
“It was a performance that had kept White House staffers on edge all day, ever since the president unexpectedly tweeted his plans for a press conference after debarking at sunrise from Air Force One. Just hours before his appearance was expected to begin, communications staffers were uncertain about how — or where — the press conference would take place, and if the president or just the coronavirus task force would take questions.
“Speaking during a news conference, Trump cited Pence's experience as governor of Indiana as qualifying him to spearhead the growing threat of the global outbreak. The White House had been weighing the appointment of a coronavirus czar in the lead up of the announcement as it faced criticism over its inconsistent messaging during the emerging crisis.”— Via email from George Mason’s J.W. Verret: “I am glad Senator Toomey has given Judy the benefit of the doubt.
“For weeks, the coronavirus outbreak in China rattled global supply chains, exacting a toll on major businesses around the world, though often in indirect ways. Now, as it spreads across Europe and Asia, the virus is becoming a more immediate threat to all types of businesses. From Milan to Berlin to London, companies in practically every industry are refining their emergency protocols or sending employees home to try to prevent an outbreak.
“Nearly half of U.S. companies in China said they expect revenue to decrease this year if business can’t return to normal by the end of April, according to a survey conducted Feb. 17 to 20 by the American Chamber of Commerce in China, or AmCham, to which 169 member companies responded. One fifth of respondents said 2020 revenue from China would decline more than 50% if the epidemic continues through Aug. 30.
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