The daily business briefing: February 13, 2020

Spike in coronavirus cases rattles markets, senators urge Fed chair to stand firm despite Trump criticism, and more

A temperature check in Shanghai
(Image credit: NOEL CELIS/AFP via Getty Images)

1. Confirmed coronavirus cases soar as China changes diagnostic rules

Chinese public health officials on Thursday reported a huge increase in the number of coronavirus cases in Hubei province on Thursday. The 14,840 new cases, lifting total infections to about 60,000, marked a 10-fold increase over the number reported on Wednesday. The 242 new deaths more than doubled the most recorded in a single day. It was not immediately clear what the figures indicated about how fast the flu-like virus was spreading, because the spike came after the health commission in Hubei, the epicenter of the virus, changed its diagnostic criteria for confirming cases, giving doctors more discretion. Still, the news cooled hopes that the spread of the epidemic was slowing, halting a rally in Asian markets.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.