Quick Update on the Coronavirus

The Coronavirus or COVID-19 continues to be at the center of global attention. The pandemic started roughly 2 months ago in Wuhan, China. While it is difficult to obtain accurate data in regards to how many have contracted the virus because of challenges with testing, as of March 15, according to the CDC, there were 153,517 confirmed cases around the world, though it is estimated that the actual number is much higher. Across the world, major events are being postponed or canceled, and many flights from abroad are grounded. While things seem to be improving in China and Southeast Asia, the Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci warned that the outbreak will get much worse worldwide.  The death rate of the virus is now thought to be around 3.4% (the first projections had a mortality rate of around 2%).

It is clear that the virus is spreading uncontained from person to person in the United States. Some celebrities including, actor Tom Hanks and his wife actress Rita Wilson, American basketball player Donavin Mitchell and Rudy Gobert of the Utah Jazz have contracted COVID-19.  It appears to be only a matter of time before there is an outbreak of large magnitude across the United States.

The elderly and those with pre-existing conditions are the most at risk of developing severe, even deadly, symptoms. Although much of the population is arguably safe from the most serious consequences of the virus itself, nobody can escape the free-falling stock market and national panic. The COVID-19 outbreak has become the most prominent media event and the largest threat to national security since September 11, businesses and schools alike are closing as experts are calling for “social distancing” in an attempt to “flatten the curve” on the virus.