W

orld cases of Coronavirus cross 200000.

The outbreak is spreading rapidly and cases have gone exponentially up in the last couple of days. At this time Europe is considered the epicenter with most new cases coming out of here. This is why EU countries will be shutting their borders to prevent people from moving around and spreading the virus. In the USA, all of the 50 states have also confirmed cases.

All of this bad news is hitting the markets hard. China and Japan had the smallest impacts last night with their stock markets down less than 2%. South Korea was the worst performer from the Asian markets, down 5%. Europe is still trading while this article is written at 8AM ET, but all markets are in the red around 4-5%.

The US stock futures are limit down and the ETFs are pointing to an implied open of around -6%. Oil had a bad night, down 6% and trading now around 25$.

If Europe is a guide, there will be stricter measures coming to the USA as more and more videos of people parting and going out pop up on the internet. This will further drag the stock market downward.