The Coronavirus Toll as of March 6*;
Number of Cases Worldwide: 98,705
Death Rate: 3.4%
57 new Coronavirus cases in the United States were reported in at least four new states, Colorado, Maryland, Tennessee and Texas on Thursday. The number of deaths from respiratory diseases in the US increased to 12.
Congress Takes Action
The US Congress urgently approved an $8.3 billion budget to fight the epidemic and develop a vaccine and sent it to President Donald Trump.
Google, Amazon, Facebook, and Microsoft told staff in and around Seattle, Washington to work from home on Thursday, as the virus spread in the region.
Stocks Extended Losses
Stocks continued their decline on Wall Street. Dow Jones, Nasdaq, and SP500 fell by 3 to 3.5 percent.
Russia Resists Opec Cut Proposal
The meeting of the Organization of the Petroleum Exporting Countries to discuss the coronavirus’s effect on demand in Vienna, Austria’s capital, goes on.
Opec’s ally Russia is not for new supply cuts, according to Reuters. Speaking anonymously, one Russian source said, “Our position will not change.”
The cartel’s de facto leader Saudis and other Arab countries continue to push for another 1.5 million supply cut. It remains unclear whether the negotiations will result in a decision today.
US employment data from February is eagerly watched for. A figure above the expectations may give some room for breathing to the stock market hit by the virus.
Turkish and Russian leaders Erdogan and Putin agreed on a ceasefire valid from midnight in the Idlib province of Syria.
*Sources: World Health Organization, China National Health Commission, The Center for Systems Science and Engineering Johns, Reuters