Despite no cases, the Mayor of SF declares an emergency. New infections outside China now outpace those inside China.

SF Mayor London Breed Declares Local Emergency Amid Coronavirus Outbreak

The city of San Francisco declared on Tuesday a state of emergency even if at the moment there are no confirmed cases of Covid-19 in the area.

"Although there are still zero confirmed cases in San Francisco residents, the global picture is changing rapidly, and we need to step-up preparedness," Breed said in a statement. "We see the virus spreading in new parts of the world every day, and we are taking the necessary steps to protect San Franciscans from harm."

President Trump will hold a news conference on Covid-19 today at 6:00 PM ET.

The global pandemic is spreading: Europe Prepares for Pandemic as Illness Spreads From Italy

New cases of the coronavirus popping up across Europe. Dozens of infections in Iran stoking fears about an uncontrolled spread in the Middle East. Global market jitters continuing after a steep slide. American health authorities warning that it was a matter of when, not if, the epidemic would reach the United States. A toxic political climate in Washington complicating the public health challenge.

For the first time, more new cases were reported outside China than inside, according to the World Health Organization. Chinese officials on Tuesday reported 411 new infections; in the rest of the world, the number was 427. The total number of cases globally has now reached 80,980 and nearly 3,000 have died.

In the European Union, which prides itself on open borders, new cases were recorded in Austria, Croatia, France, Germany, Greece and Spain. Most were tied to Italy, where the authorities have been struggling to contain an outbreak that has infected at least 325 people, most of them in the north near Milan.

Hotels in Austria, France and the Canary Islands of Spain were locked down this week after guests tested positive for the virus or were suspected of having it. The steps to limit contagion differed from place to place, but large group gatherings were often the first things to be canceled where the virus had been detected.

Coronavirus Cases by Country

News Updates

The U.S. CDC yesterday suggested that the risk of a coronavirus pandemic is likely and is alerting the public to begin preparing for community spread in the United States.

Dr. Anne Schuchat, the CDC's principal deputy director declared: "It's not a question of if. It's a question of when and how many people will be infected."

Spotlight Italy

 

What's Happening?

  1. CDC Admits Spread of Coronavirus in the US Appears Inevitable
  2. Lie of the Day: This is Not a Pandemic
  3. Bond Yields Crash and Gold Soars on Pandemic Threat
  4. Fed Minutes Highlight Coronavirus Concerns and Uncertainty 8 Times
  5. Nearly 50% Odds of "At Least" 3 Rate Cuts by December
  6. Rate cuts odds started rising before coronavirus threat materialized on news Largest Global Shipping Decline Since 2009.

This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD holds losses below 1.1400 ahead of ECB policy decision

EUR/USD holds losses below 1.1400 ahead of ECB policy decision

EUR/USD stays on the back foot below 1.1400 in the European session on Thursday. The pair loses ground on the back of a broad US Dollar rebound and as traders remain cautious ahead of the European Central Bank interest rate decision and Lagarde's press conference. 

EUR/USD News
GBP/USD stays defensive near 1.3250 as US Dollar bounces

GBP/USD stays defensive near 1.3250 as US Dollar bounces

GBP/USD stays defensive near 1.3250 in Thursday's European trading, snapping its seven-day winning streak. A tepid US Dollar recovery amid risk appetite prompts the pair to pullback from six-month highs of 1.3292 set on Wednesday. Traders look to tariff headlibnes and US data for fresh impetus. 

GBP/USD News
Gold price retreats from record high as profit-taking kicks in

Gold price retreats from record high as profit-taking kicks in

Gold price retreats after touching a fresh all-time peak earlier this Thursday and erodes a part of the previous day's blowout rally though the downside remains cushioned. A slight improvement in the global risk sentiment, bolstered by hopes of US trade negotiations, turns out to be a key factor undermining the precious metal.

Gold News
European Central Bank set to cut interest rates again amid easing inflation and tariff uncertainty

European Central Bank set to cut interest rates again amid easing inflation and tariff uncertainty

The European Central Bank will announce its April interest rate decision on Thursday at 12:15 GMT. Markets widely expect the central bank to lower key rates for the sixth consecutive time. This time the ECB is set to deliver another 25 basis points (bps) cut after the April policy meeting.

Read more
Future-proofing portfolios: A playbook for tariff and recession risks

Future-proofing portfolios: A playbook for tariff and recession risks

It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025