Global supply chains could face further pressure as many businesses and factories in China remain closed, despite today marking the official end of a public holiday which was extended in a bid to halt the spread of the coronavirus.
... [+], while the number of cases in the U.K. has risen to eight. London’s FTSE 100 slipped 0.4% on the news.
Several major business events have either been called off or had major companies pull out. Amazon, Ericsson, Sony and Facebook have all withdrawn from a Mobile World Congress in Barcelona.: Experts from the World Health Organization will touchdown in Beijing on Monday to help Chinese health officials investigate the outbreak.
: Coronavirus overtook the death toll from the 2002-2003 SARS outbreak over the weekend, with at least 908 people dead and more than 40,000 now infected, mostly in Hubei province where the outbreak is thought to have begun in December. More than 300 people have been infected outside China, across 27 countries, while two people have died in Hong Kong and the Philippines. Ninety-seven people were reported dead from the illness on Sunday, making it the biggest daily death toll for the disease.
The full economic cost of the world’s second-largest economy being put on a limited quarantine from the rest of the world, while the factories and workshops that power global supply chains have remained largely idle, remains to be seen.
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