Virus Update: China Accuses US Of Spreading “Panic”

The New York Post reports:

The Chinese government on Monday accused the US of spreading “panic” over the coronavirus outbreak by pulling its citizens out of the country and restricting travel instead of offering significant assistance.

The US was the first country to begin evacuations, issued a travel warning against going to China, and from Sunday barred entry to foreigners recently in China.

Washington has “unceasingly manufactured and spread panic,” Chinese Foreign Ministry spokeswoman Hua Chunying said, noting that the World Health Organization had advised against trade and travel restrictions.

Reuters reports:

A 1,000-bed hospital built in eight days to treat people with the virus in Wuhan will begin to take patients on Monday, state media said. More than 7,500 workers took part in the project, launched on Jan. 25 and finished this weekend.

A second hospital in Wuhan with 1,600 beds is due to be ready on Feb. 5. While countries have been trying to block the virus with travel bans, they have also been getting stranded citizens out of Wuhan.

The United States, which flew people out last week, is planning “a handful more flights” while Russia is due to start evacuating its citizens from Wuhan on Monday.

CNN reports:

Chinese stocks recorded their worst day in years as investors finally got a chance to react to the worsening coronavirus outbreak.

The Shanghai Composite (SHCOMP) plummeted 7.7% and the Shenzhen Component Index fell nearly 8.5% on their first day of trading after an extended Lunar New Year holiday. They had been closed since January 24. The losses wiped out a combined $445 billion in market value.

The plunge delivered Shanghai its worst day since August 2015’s “Black Monday,” when global markets were rattled by fears of an economic slowdown in China. Shenzhen, meanwhile, hadn’t recorded a single-day percentage drop this bad since 2007.