Hong Kong Government To Pay $1,283 To All Adults In Fight Against Coronavirus

The Hong Kong government announced $15.4 billion worth of measures to support its economy during the outbreak, including a $1,283 cash payout to all adult Hong Kong residents. In China, the epicenter of the virus, it has more than 78,000 cases and 2,715 deaths.

Coronavirus infections outside China continue to rise at an alarming rate, with South Korea reporting 169 more cases and one additional death. South Korea’s total cases are nearing 1,150 with 11 fatalities. The spread in Italy remains a key concern for Europe.

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A Look At US Stocks On Wednesday: Dow Closes At A Record High

U.S. stock futures, in a highly volatile overnight session, were actually pointing to a steady Wall Street open Wednesday. The Dow, which closed at a record high just two weeks ago, dropped another 879 points Tuesday, bringing its two-day loss to nearly 1,900 points as the widening coronavirus crisis heightens concerns about the outbreak’s impact on global economic growth.

President Donald Trump is furious that stocks are plunging, according to The Washington Post, blaming dire warnings from U.S. health officials for scaring investors. The CDC said Tuesday, “We’re not seeing community spread here in the United States, yet, but it’s very possible, even likely, that it may eventually happen.”

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Disney Shares Fall By 1.5 Percent After Choice Of New Boss

Shares of Disney were falling about 1.5% in the premarket after the media and parks conglomerate announced a CEO change late Tuesday. Disney selected parks chairman Bob Chapek as the company’s new CEO, effective immediately, replacing longtime chief Bob Iger, who will stay on as chairman of the board.

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CDC confirms first possible community transmission of coronavirus in the US

U.S. health officials confirmed the first possible community transmission of the coronavirus in America, a troubling sign that the virus could be spreading in local cities and towns.

The Centers for Disease Control and Prevention doesn’t know exactly how the California patient contracted the virus. The individual is a resident of Solano County and is receiving medical care in Sacramento County. The patient didn’t have a relevant travel history or exposure to another patient with the virus, the CDC said Wednesday.

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