Stocks Drop, Gold Pops After CDC Confirms 2nd US Corona Case, Monitoring 63 Others

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by Tyler Durden
Friday, Jan 24, 2020 - 10:20 AM

The CDC has confirmed the second case of Coronavirus in a Chicago woman in her 60s who recently traveled to Wuhan. She has been quarantined, and investigators are looking to track down anyone she may have had contact with.

The woman returned to the US on Jan. 15, but was asymptomatic so she evaded any monitoring. CDC said she didn't have much contact with the public since her return.

Other cases have been rumored in Texas and at LAX, but apparently none have been confirmed. The first case emerged earlier this week in Washington State.

Meanwhile, the CDC revealed that the agency is monitoring 63 other possible cases in the US. While the agency says the risk to the American public is still 'low', the situation is "evolving rapidly." They expect to see more 'travel-related' cases, as well as some cases passed between humans in the US. The patients are spread across 22 states, and so far 11 of the cases have tested negative.

Epoch Times is reporting that nine individuals are being tested in Northern California.

Stocks are really sliding now, with the S&P and Nasdaq seeing the biggest declines...

...while the Dow dipped but has been bolstered by Intel:

Gold has exploded to three-week highs.

And 30Y yields have hit a three-month low.

Only the Nasdaq is still higher for the week...but just barely.

So much for 'contained'...hopefully we'll hear more soon from the WHO...though we suspect they will stay silent until after 4 pm.