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A man wearing a mask while walking in the streets of Wuhan on Jan. 22. Photo: Getty Images

Global equity prices have largely bounced back from the selloff after the first reports of the coronavirus outbreak in China, but traders are still punishing companies tied to Wuhan, China, the city at the center of the outbreak.

What happened: "Wuhan Department Store Group, which operates several malls in Wuhan, lost 3.1% to head for a weekly drop of 16%. Hubei Heyuan Gas Co., which generates all of its revenue from Hubei province, extended its two-day drop to 10%, the biggest on record," Bloomberg reports.

  • "Decliners also include transport firms such as Wuhan Sante Cableways Group Co., which runs passenger cable cars, and Chang Jiang Shipping Group Phoenix Co., which offers freight shipping services on China’s rivers."

The big picture: China suspended bus and subway lines in the city and closed outbound channels at train stations and airports, effectively shutting the city, as the death toll from the outbreak rose to 17, state newspaper Global Times reported.

Go deeper:

Go deeper

Texas AG sues Biden administration over deportation freeze

Texas Attorney General Ken Paxton speaks to members of the media in 2016. Photo: Alex Wong/Getty Images

Texas Attorney General Ken Paxton is suing the Biden administration in federal district court over its 100-day freeze on deporting unauthorized immigrants, and he's asking for a temporary restraining order.

Between the lines: The freeze went into effect Friday, temporarily halting most immigration enforcement in the U.S. In the lawsuit, Paxton claims the move "violates the U.S. Constitution, federal immigration and administrative law, and a contractual agreement between Texas" and the Department of Homeland Security.

Dan Primack, author of Pro Rata
1 hour ago - Podcasts

Carbon Health's CEO on unsticking the vaccine bottleneck

President Biden has said that getting Americans vaccinated for COVID-19 is his administration’s top priority given an initial rollout plagued by organizational, logistical and technical glitches.

Axios Re:Cap digs into the bottlenecks and how to unclog them with Carbon Health chief executive Eren Bali, whose company recently began helping to manage vaccinations in Los Angeles.