Reuters reports:

The coronavirus spread further on Friday, with cases reported for the first time in at least six countries across four continents, battering markets and leading the World Health Organization (WHO) to raise its impact risk alert to “very high.”

Hopes that the epidemic that started in China late last year would be over in months, and that economic activity would quickly return to normal, have been shattered.

World shares were on course for their largest weekly fall since the 2008 financial crisis, bringing the global wipeout to $5 trillion as supply chains were disrupted, travel plans postponed and major events canceled.

The WHO said it was raising its assessment of the global risk to ‘very high’ from ‘high’, which its head of emergencies Dr Mike Ryan said was intended to put national authorities on full alert.

“I think this is a reality check for every government on the planet – wake up, get ready, this virus may be on its way and you need to be ready,” Ryan said.

The latest WHO figures indicate over 82,000 people have been infected, with over 2,700 deaths in China and 57 deaths in 46 other countries.

Mexico, Nigeria, New Zealand, Lithuania, Belarus and Azerbaijan reported their first cases, all with travel history connected to epicenters in Italy and Iran. Mexico is the second Latin American country to register the virus, after Brazil. [Continue reading…]