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All times below are in Eastern time.
Total cases: More than 24,000 as of Wednesday morning.
Total deaths: At least 490 worldwide as of Wednesday morning.
8 am: ECB chief says outbreak ‘adds a new layer of uncertainty’ to global growth
The president of the European Central Bank has expressed concern that China’s coronavirus outbreak is fueling global economic uncertainty, according to a Reuters report. “The short-term uncertainties are mainly related to global risks — trade, geopolitical and now the outbreak of the coronavirus and its potential effect on global growth,” Christine Lagarde reportedly said during a speech in Paris, France on Wednesday. “While the threat of a trade war between the United States and China appears to have receded, the coronavirus adds a new layer of uncertainty.”
7:25 am: WHO says there are ‘no known’ effective drug treatments against coronavirus
The World Health Organization has downplayed media reports of a drug breakthrough against the coronavirus, saying there are “no known” drug treatments against the virus. “There are no known effective therapeutics against this 2019-nCoV and WHO recommends enrollment into a randomized controlled trial to test efficacy and safety,” WHO said in a statement on Wednesday. “A master global clinical trial protocol for research and prioritization of therapeutics is ongoing at the WHO.” Earlier in the day (See 7:00 p.m. update), Reuters said a Chinese TV media outlet had reported that a research team at Zhejiang University had found an effective drug to treat people with the new coronavirus. The news agency, citing traders, suggested this was a reason for the move higher in stocks. Separately, Sky News reported Wednesday that a scientist from Imperial College London had made a significant breakthrough in the race to develop a vaccine for the coronavirus. CNBC has not been able to verify the media reports.