The Effect of COVID 19

to local and
International Financial
Market

SUBMITTED BY: SEVILLA, Princess Jane F.

SUBMITTED TO: Ms. Shirley Espino, PhD
US coronavirus death toll
rises to 9, mortality rate of
COVID-19 rises

According to resident of Berkeley, California, tested positive for the virus —

the college town’s first confirmed case, local health officials said. City Manager Dee
Williams-Ridley proclaimed a local emergency, giving the city access to more resources
to help contain any local cases. “While the risk of infection remains low, the expanded
presence of the virus in our community is a reality we should all prepare for,” City of
Berkeley Health Officer Dr. Lisa Hernandez said in a statement. - Kopecki

Regeneron CEO Leonard Schleifer told CNBC the pharmaceutical company

hopes to have its coronavirus treatment produced and ready for human testing possibly by
August. “How quickly that can deployed will depend on some of the early data that we
have, some animal data, what we will see in patients,” Schleifer said on “The Exchange.”
“I think that we can get a lot done very quickly.”- Stankiewicz

The World Bank approved $12 billion in emergency financing to help poor
nations with the health costs and economic impact of the outbreak, the organization said.
“We are working to provide a fast, flexible response based on developing country needs
in dealing with the spread of COVID-19,” World Bank Group President David Malpass
said in a statement. The money is intended to help the poorest and most at-risk nations
fight the virus, which has spread to at least 74 countries across the globe, and will be used
to provide emergency financing, technical assistance and policy advice. The International
Monetary Fund and the World Bank said on Monday they stood ready to help member
countries deal with the coronavirus outbreak, including through emergency funding. -
Kopecki
 The Department of Homeland Security has closed its office in the Seattle area
after an employee there began to exhibit symptoms of COVID-19. The employee
previously visited the Kirkland Life Care Facility, which has become the source of an
outbreak in the state. The federal facility is the first to close in the U.S. due to the virus,
Senator Patty Murray said, and it will remain closed for 14 days. All employees have
been instructed to self-quarantine for 14 days, DHS acting secretary Chad Wolf said in a
statement. - Feuer

The mortality rate of COVID-19 is significantly higher than previous estimates,

world health officials said. Globally, about 3.4% of confirmed patients have died, said
Dr. Tedros Adhanom Ghebreyesus, director-general of the World Health Organization. In
comparison, the seasonal flu generally kills far fewer than 1% of those infected. The
WHO officials said last week that the mortality rate of COVID-19 can differ, ranging
from 0.7% to up to 4%, depending on the quality of the health-care system where it’s
treated. Early in the outbreak, scientists had concluded the death rate was around 2.3%. -
Lovelace, Higgins-Dunn

President Donald Trump has donated his fourth quarter 2019 salary to the
Department of Health and Human Services, where it will be used to “support the efforts
being undertaken to confront, contain, and combat Coronavirus,” White House press
secretary Stephanie Grisham said. This is not the first time Trump has donated his salary
to an agency facing an urgent problem. Since taking office, Trump has directed his
$400,000 annual salary to a different agency each quarter. - Wilkie

North Carolina health officials confirmed the state’s first COVID-19 case — a

patient from Wake County who traveled to Washington state. Local health officials are
working to find out who may have been in contact with the patient, Governor Roy
Cooper said during a press briefing, adding the state expects more cases. “Our most
important work is keeping people healthy and safe,” he said. – Lovelace

The Food and Drug Administration and Centers for Disease Control and
Prevention broadened the types of masks health-care workers can use to include
“industrial” masks amid reports of a nationwide shortage and price gouging. The FDA
granted the CDC’s request for an emergency use authorization to allow health providers
use masks that previously were only approved for industrial settings. The move broadens
the category of masks that doctors and nurses are approved to use in a health-care
setting. “The FDA and CDC’s action to allow a wider range of respirators to be used in
health-care settings will help those on the front lines of this outbreak and their patients,
which will keep all Americans safe,” HHS Secretary Alex Azar said. “We will continue
pursuing every possible avenue to secure the protective gear needed for responding to the
COVID-19 outbreak.” —Feuer

 The effects of the coronavirus isn’t all negative, though, The President Donald
trump is being leveraged there to help during the outbreak, to ease the pressure on
healthcare workers by speeding up medical data verification. These actions may
well help to lessen the financial impact of COVID-19 both in terms of providing
much needed cash injections and helping the local economy bounce back as
quickly as possible. And, of course the good publicity gained by the industry as a
whole, in a certain light.