China may have at least temporarily beaten back the coronavirus, but the World Health Organization is sounding the alarm for everyone else.
Driving the news: "This is not a drill. ... This is a time for pulling out all the stops," its top official said today. "Countries have been planning for scenarios like this for decades. Now is the time to act on those plans."
Online sales for health supplies skyrocketed this past week, with masks and disinfectants seeing triple-digit increases as consumers prepare for their communities to be impacted by the novel coronavirus.
Why it matters: Despite the stock market's nervous reflection of economic uncertainty, companies for cleaning, toiletry products and nonperishable foods are faring well amid expectations of social distancing and school closures in the U.S.
Southwest Airlines CEO Gary Kelly said on Thursday that the drop in domestic air travel amid the novel coronavirus outbreak "has a 9/11-like feel," CNBC anchor Carl Quintanilla reports.
Driving the news: The spread of COVID-19 could cost airlines up to $113 billion in lost revenue due to declines in air travel this spring and early summer, the International Air Transport Association projected earlier on Thursday.
Soccer leagues across Europe are reacting differently as the coronavirus spreads, from canceling games to playing in closed-door arenas.
Driving the news: The Premier League has banned the ceremonial pre-match handshake. But following advice from the government, it has not canceled any of the upcoming games yet.
The film industry is on pace to lose billions of dollars due to the deadly coronavirus outbreak around the world, according to analysts.
Why it matters: In the U.S., the largest box office in the world, consumers who are spooked by the virus have little incentive to leave their houses to see a movie if they can stream something at home. In China, the second-largest global box office, most theaters have been temporarily closed.
President Trump denied in a Thursday tweet that he told Fox News' Sean Hannity that people who are feeling sick should continue to go to work amid the coronavirus outbreak.
The state of play: While Trump didn't explicitly say that sick Americans should go to work, he did state that those with mild coronavirus cases can still recover while going about their daily lives — an assertion that contradicts public health officials' recommendations on how to manage the illness.
OPEC ministers have agreed to push for deepening their joint production-cutting agreement with Russia and allied producers by 1.5 million barrels per day, per reports from Vienna.
Why it matters: The cartel is trying to grapple with how the novel coronavirus is sapping oil demand and depressing prices.
Campbell Soup stock jumped 10% on Wednesday as the company's CEO went on a media tour to tout the growing demand for the company's products in the face of COVID-19 fears.
What he's saying: CEO Mark Clouse told CNBC Wednesday that the company is increasing soup production in response to the coronavirus outbreak.
The COVID-19 outbreak began weighing on U.S. businesses even before the virus had really begun its spread in the U.S., the Fed's latest beige book shows.
Why it matters: The extent of the outbreak can't yet be quantified, but the report, a collection of anecdotes from the central bank’s business contacts around the country, suggests U.S. firms could be in for a significant slowdown in March.
Health care stocks soared Wednesday, led by double-digit percentage gains from major health insurers Anthem, Centene, Cigna, Humana and UnitedHealth Group.
The big picture: Nothing has changed with the health care industry, which is still printing money. But Joe Biden's Super Tuesday victories reassured Wall Street of his chances of beating Bernie Sanders and "Medicare for All” — and that a Biden presidency or a Trump re-election will keep the lucrative status quo in place.
Female physicians are at a greater risk of dying by suicide than male physicians, according to a meta-analysis in JAMA.
The big picture: Certain physicians lead highly stressful careers, while most are extremely susceptible to burnout. Though doctors typically have good access to mental health services, the workplace culture stresses helping others before helping yourself.
In 2018, the year the Republican tax law went into full effect, 12 of the largest pharmaceutical companies spent more money buying back their stock than they spent on drug research and development.
The big picture: When billions of dollars became available to the biggest drug companies, their main priority was to juice earnings, along with the paydays of their executives and investors — not investments in new treatments or relief for patients who can't afford their drugs.
Pet owners are urged to adopt "good hygiene practices" like avoiding kissing animals after a dog was found to have a "low-level of infection" of the novel coronavirus, Hong Kong authorities said in a statement Wednesday.
Why it matters: This would appear to be the first case of a likely human-to-animal transmission, per a spokesman for the city's Agriculture, Fisheries and Conservation Department. But he stressed there's "no evidence that pet animals can be a source of infection of COVID-19 or that they become sick."
A Facebook contractor who works in the tech giant's Stadium East office in Seattle has been diagnosed with the novel coronavirus, a company spokesperson confirmed in a statement to Axios early Thursday.
The big picture: "We've notified our employees and are following the advice of public health officials to prioritize everyone's health and safety," the spokesperson said. The worker was last in the office Feb. 21. It was immediately shut and is due to reopen this Monday, when the incubation period ends. Facebook is encouraging all Seattle site staff to work remotely until March 31. On Tuesday, an Amazon employee in Seattle tested positive for COVID-19, as Washington grapples with a spike in cases.
Netflix is the latest big name to withdraw from this month's South by Southwest festival in Austin, Texas, amid concerns about the spread of the novel coronavirus, the streaming giant confirmed to Axios Wednesday night.
Details: Apple told Axios earlier in the evening that it was withdrawing from the event.
