Yum China Slides on Worries About Sales Slump Amid Coronavirus Outbreak

Yum China is tumbling Thursday over concerns about the impact of the deadly coronavirus on the fast-food restaurant chain's sales.
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Shares of Yum China (YUMC) - Get Report were tumbling 5.3% to $44.47 Thursday over concerns about the impact of the deadly coronavirus on the fast-food restaurant chain's sales.

Based in Shanghai, Yum China, which was spun off from Yum Brands in 2016, operates about 8,500 restaurants in more than 1,100 cities and towns in China. Brands include KFC, Taco Bell and Taco Bell.

U.S. stocks were declining Thursday and Asian shares fell sharply as worries grew that the spread of the deadly coronavirus in China could escalate into a worldwide pandemic.

The coronavirus, which has been traced to Wuhan, a central industrial city with a population of around 11 million, has killed 17 people and infected nearly 650. Authorities in China expanded travel restrictions to beyond Wuhan, in an effort to contain the spread of the virus.

Outside of China, Thailand has confirmed four cases of the virus, while Japan, South Korea, Taiwan and the United States have reported one each, Reuters reported.

There are growing concerns that the flu-like infection might spread rapidly as hundreds of millions of Chinese travel domestically and abroad during the week-long Lunar New Year holiday.

The U.S. Centers for Disease Control and Prevention issued a "Watch Level 3 Alert (Avoid Nonessential Travel)" for the ongoing outbreak of pneumonia caused by coronavirus.

The World Health Organization said Thursday it wouldn't declare a global public health emergency over the coronavirus outbreak.