Lot’s of brands are going to need resuscitation after this
Steve’s breakdown: We’re all going to get through this but there’s going to be a lot of brand damage to fix. Airlines, Travel, Tourism, you name it . . .
Pick yours while we wait for this to blow over and be the first to call.
Earlier Tuesday, Chinese leader Xi Jinping said that his country is being “open, transparent, responsible” in its handling of the coronavirus outbreak, as the number of cases continues to increase. Here’s what we know:
● The death toll has risen to 106 in China, with more than 4,565 cases of infection. Other countries in the region also are reporting more people infected — nearly all of them tourists from China.
● Hong Kong announced dramatic measures to stem the flow of mainland Chinese into the territory, closing two railways, ferries and cross-border tour buses. Flights to mainland China will be slashed by half, and individual visas to Chinese will no longer be issued, starting Thursday.
● Wall Street opened higher Tuesday than it did the day before, when the outbreak spooked the global market, causing serious losses. Asian markets opened down Tuesday after the Lunar New Year holiday, with markets in South Korea and Japan having dropped nearly 3 percent.
● Several countries, including France, South Korea, Canada, Britain and the United States are putting together plans to evacuate their citizens from the outbreak epicenter in Wuhan.
● Germany has reported its first case, while Thailand has confirmed six more cases, bringing its total to 14 amid calls by many Asian populations to close the borders to Chinese visitors. Infections have been confirmed in France, South Korea, Japan, Nepal, Cambodia, Singapore, Vietnam, Taiwan, Canada and Sri Lanka. We’re mapping the spread here.