Global equity markets are taking a beating on Thursday as the death toll climbs to 170 from 132, with 7,711 cases of coronavirus confirmed in China and 7,814 worldwide.

The developments over the last several weeks could force the World Health Organization (WHO) to issue a global alert over the alarming infection rate of the deadly virus.

Evidence shows the virus can be transmitted from person to person before any signs or symptoms, which is one of the reasons why the WHO could soon declare a Public Health Emergency of International Concern (PHEIC), as the virus spreads across the world.

Dozens of cities are shut down across China, more than 50 million folks are quarantined to their homes, and experts have warned there's no vaccine for at least one year, suggests the deadly virus will continue to spread across China and the world.

Airline carriers started to cut flights to and from China on Wednesday. Western companies have announced factory and retail store closings across the country, and this will likely result in a massive loss of business that could produce an economic shock felt around the world.

Late last week, a Wuhan nurse made an emotional video on social media, claiming more than 90,000 have already been infected.

I just received an urgent new video uploaded by the Chinese doctor from the #coronavirus quarantine zone in Wuhan. I need your help with translation and it’s very important we get it right before it goes out to major media outlets. I’m posting it in 3 parts. (1 of 3) pic.twitter.com/qNxuP3tXuG — Max Howroute▫️ (@howroute) January 24, 2020

On Wednesday, the Epoch Times tweeted an interview with a Wuhan citizen, who says people in the outbreak areas "can't get any medical treatments" nor "a diagnosis" because hospitals are overloaded with patients. He said people "sit and wait to die."

"Imagine being a Wuhan citizen…they can't get any medical treatments, they can't even get a diagnosis. They can only sit and wait to die."

“Imagine being a Wuhan citizen…they can't get any medical treatments, they can't even get a diagnosis. They can only sit and wait to die.”



A #Wuhan citizen speaks out about the #Coronavirus, and says the symptoms of the virus do not match what authorities are saying. pic.twitter.com/CWDMdbnWDU — The Epoch Times - China Insider (@EpochTimesChina) January 29, 2020

He warned that transmission of the deadly virus isn't just "oral" but also "through the eyes."

He said the government isn't telling the truth about symptoms, because in many cases, there are no symptoms as people spread the disease during the incubation period, which could be 7 to 10 days before signs are seen.

Another perspective of life in Wuhan is nothing short of an "apocalypse," said 21-year-old US-born college student Nicholas Schneider, who was interviewed by Reuters on Wednesday.

RTRS Schneider interview

"It's like a ghost town, barely any people and cars. It's a weird feeling. I feel like I'm in an apocalypse somehow," Schneider said via a phone interview.

It's only a matter of time before cities outside of China are locked down on coronavirus fears as there's no vaccine for 12 months.