Virus’ effect on world economy grows more alarming

TOKYO (AP) — Concerns about the coronavirus outbreak’s threat to the world economy grew Saturday, even after President Donald Trump denounced criticism of his response to the threat as a “hoax” cooked up by his political enemies.

New data released Saturday by manufacturing powerhouse China showed a sharp drop. Iran said Saturday that the virus has killed 43 people amid 593 confirmed cases in the Islamic Republic.

Italian authorities say that country now has more than 1,000 coronavirus cases, with 29 deaths so far.

Although many cases appear relatively mild, quarantines, supply chain disruptions and reductions in tourism and business travel are prompting concerns about the global economy.

Categories: Associated Press, News, US, World

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