Market's Drop Continues to Accelerate Even As Coronavirus' Spread Continues to Slow

Nations are closing borders, stocks are plummeting and a New York Times headline reads: “The Coronavirus Has Put the World’s Economy in Survival Mode.” Both political parties have realized the crisis could severely impact the November elections — House, Senate, presidency. And sacré bleu, they’ve even shuttered the Louvre! 

Some of these reactions are understand­able, much of it pure hysteria. Meanwhile, the spread of the virus continues to slow. 

More than 18,000 Americans have died from this season’s generic flu so far, according to the latest data from the Centers for Disease Control and Prevention. In 2018, the CDC estimated, there were 80,000 flu deaths. That’s against 19 coronavirus deaths so far, from about 470 cases. 

Worldwide, there have been about 3,400 coronavirus deaths, out of about 100,000 identified cases. Flu, by comparison, grimly reaps about 291,000 to 646,000 annually. 

China is the origin of the virus and still accounts for over 80 percent of cases and deaths. But its cases peaked and began ­declining more than a month ago, according to data presented by the Canadian epidemiologist who spearheaded the World Health Organization’s coronavirus mission to China. 

Fewer than 200 new cases are reported daily, down from a peak of 4,000. 

Subsequent countries will follow this same pattern, in what’s called Farr’s Law. First formulated in 1840 and ignored in ­every epidemic hysteria since, the law states that epidemics tend to rise and fall in a roughly symmetrical pattern or bell-shaped curve. AIDS, SARS, Ebola — they all followed that pattern. So does seasonal flu each year.

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