The first patients in a "historic" drug trial to test treatments for the coronavirus have been enrolled in Norway and Spain, World Health Organization officials announced Friday.
The state has already spent $1 billion trying to stymie the outbreak and estimates that business closures will cost roughly $10 billion to $15 billion in lost revenue.
Major outbreaks in so-called hot spots such as New York threaten to overwhelm the local hospital systems, which have a limited number of beds, staff and equipment.
The coronavirus bill provides $5 billion to New York, which doesn't come close to covering state's projected revenue shortfall, which could total $15 billion, Cuomo said.
More than 5,300 residents have already been hospitalized and the state is projecting that will climb to 140,000 over the next two to three weeks, Gov. Andrew Cuomo said.
New York Gov. Andrew Cuomo is holding a press conference on the COVID-19 outbreak, which has infected more than 30,800 people in the state as of Wednesday.
"Would this possibly become a seasonal cyclic thing? I've always indicated to you that I think it very well might," says Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases.
Investors await the release of U.S. initial jobless claims data, expected to be out around 8:30 p.m. HK/SIN on Thursday, which could provide clues to the economic impact of the coronavirus pandemic.
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