In Case You Missed It: An Update on the Coronavirus

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Here's what investors need to know about the major events that have taken place over the weekend. 

The Centers for Disease Control has suggested that there should be no gatherings of 50 people or more. 

But there was a lot more news. Here's what investors need to know. 

Video Transcript:

The coronavirus pandemic has officially spread into our everyday lives.

New York, Ohio, Massachusetts, Washington State and Illinois all announced that they were shutting bars and limiting restaurants to carry out or delivery.

New York City’s public school system, which has around 1.1 million students, will also shut down. This follows over a dozen states, who have already closed schools.

Maryland has ordered casinos, racetracks and betting facilities to close indefinitely.

The U.S. has over 3,700 cases of the virus, with 61 deaths.

Worldwide, according to data from Johns Hopkins, there are over 169,000 cases with around 6,500 deaths.

Italy, which is the hardest hit country outside of China, announced Sunday that deaths from the virus have crossed 1,800. There were 368 deaths reported in a single day--the highest number of deaths in a single day.

And United Airlines announced that it’s planning to cut capacity by about 50% in April and May. The company has projected that revenue in March will be around $1.5 billion lower than a year earlier.

The virus has caused the airline to fly one million fewer passengers during the first weeks of March.

And, I want to end with some potentially positive news. Moderna’s coronavirus vaccine trial is set to begin. Moderna’s vaccine, if it works, would help to protect individuals from contracting the virus.

The AP has reported that the trial is taking place at a research institute in Seattle.

Here at TheStreet, we’re working to bring you the latest information on the coronavirus and the markets, so stick with us for the latest.

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