Jahnavi Sarma
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Written By: Jahnavi Sarma | Updated : March 6, 2020 2:47 PM IST
Coronavirus update: Fear of pandemic looms large even as experts hope for potential cure
The global outbreak of the coronavirus is a fact today and, seeing recent trends, this may well be the start of a pandemic. Experts have no idea how long this will last or what turn the outbreak will take. The World Health Organisation has asked nations to get ready to fight this war effectively. Governments have started stockpiling medical supplies, schools are being shut and big gatherings are being cancelled. But, so far, nothing seems to be working when it comes to stopping the spread of COVID-19.
The virus has now also spread to the most populous country in Africa, Nigeria, and sub-Saharan Africa has also reported its first case. Italy is the worst hit in Europe with the number of cases here increasing to more than 600. In Germany, there are around 27 confirmed cases whereas France has about 18 cases. Iran and South Korea, with more than 2000 positive coronavirus cases, have been hit very hard by the outbreak. The last 24 hours have seen outbreaks in 10 new countries.
Market analysts fear that this uncertainty may cause a global recession. In fact, since the surge in coronavirus cases outside China, and with reports of cases emerging in different places in the US, the US stock market fell into correction territory with the benchmark S&P 500 index down more than 4 per cent. There is major disruption in supply chains international travel. In addition to getting ready to fight this viral outbreak, governments are also getting ready for a major financial crisis.
As of now, there is no cure yet for the coronavirus nor have scientists been able to develop a vaccine yet. But efforts are going on and experts are racing against time to fine a cure. But hope seems to be around the corner. Scientists are considering an investigational new drug by US biotech firm Gilead Sciences for the treatment of COVID-19. This drug is effective against the Middle-East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS), which are also coronaviruses.
