New York State Confirms First Coronavirus Case

Bank of America ‘Already Seeing Evidence’ of Coronavirus Economic Impact

A senior Bank of America economist said early signs of an impact of coronavirus on the U.S. economy were already visible in some leading indicators. Michelle Meyer, Bank of America’s head of U.S. economics, said in a note on Feb. 28 that “it will take time for the ‘hard’ economic data to show the impact but we are already seeing evidence in early economic indicators.” Major stock market indexes suffered their worst week since the financial crisis last week amid a virus-driven equities selloff and associated lurch towards safe-haven assets like bonds. U.S. Treasuries absorbed major capital flows last week, with the yield on the 10-year note hitting a new record low. Bond yields move in the opposite direction to prices, with falling yields a sign of growing interest by investors,…

WASHINGTON—New York state confirmed its first positive coronavirus test, Governor Andrew Cuomo said on Sunday night, as the U.S. government said it would start screening travelers for the virus and hike production of protective masks.

Cuomo said in a statement that a woman in her 30s contracted coronavirus during a recent trip to Iran and was in quarantine in her home. He did not say where the woman lived.

“The patient has respiratory symptoms, but is not in serious condition and has been in a controlled situation since arriving in New York,” Cuomo said.

“The positive test was confirmed by New York’s Wadsworth Lab in Albany, underscoring the importance of the ability for our state to ensure efficient and rapid turnaround, and is exactly why I advocated for the approval from Vice President Pence that New York was granted just yesterday.

“There is no cause for surprise—this was expected. As I said from the beginning, it was a matter of when, not if there would be a positive case of novel coronavirus in New York,” Cuomo said.

“There is no reason for undue anxiety—the general risk remains low in New York. We are diligently managing this situation and will continue to provide information as it becomes available.”

At the federal level, President Donald Trump’s administration tried on Sunday to reassure Americans as the disease spreads and businesses cancel conferences and flights.

The first American died from coronavirus, a man in his 50s with underlying conditions in Washington state, officials said on Saturday. They still do not know how he contracted the disease.

The state on Sunday confirmed two other cases and locked down a long-term care facility where a resident and a worker also tested positive for coronavirus and 50 residents and staff are showing symptoms.

Over 70 cases have been reported in the United States, with most on the West Coast but new cases in the Chicago area and Rhode Island, aside from New York.

By Andrea Shalal

This article is from the Internet:New York State Confirms First Coronavirus Case

Enemy Is China, Experts Warn at the Annual Gathering of Conservatives

NATIONAL HARBOR, Md.—The increasingly rising threat that China poses to the United States was a hot topic at this year’s Conservative Political Action Conference (CPAC), the largest annual gathering of conservatives in the country. At a panel discussion titled “The Present Danger: China” on Feb. 27, a Republican lawmaker framed the communist regime as “insidious.” And China experts criticized Beijing over its efforts to deflect blame for coronavirus outbreak onto the United States. Speaking at the event, Rep. Scott Perry (R-Pa.) said after four decades, Americans have started to realize the threat posed by China’s military and economic rise. He likened the Communist Party’s strategy to the famous “Trojan horse” in Greek mythology, a massive hollow wooden horse constructed by the Greeks to gain entrance into the city of Troy…