WHO "No Declaration of Emergency for Wuhan Pneumonia"... US Stock Market Rebounds (Comprehensive)

[Asia Economy New York=Correspondent Baek Jong-min] The World Health Organization (WHO) on the 23rd (local time) postponed declaring an international emergency over the Wuhan pneumonia. They explained that it is not yet at the stage to be declared an emergency. Following the WHO announcement, the U.S. stock market turned upward, and the turmoil in the financial market is also showing signs of calming down.

After Chinese authorities decided to lock down Wuhan city, citizens who could not take trains are returning home.
[Image source=AP Yonhap News]

On the same day, WHO held an emergency committee meeting in Geneva, Switzerland, continuing from the previous day to discuss the Wuhan pneumonia and made this decision. Instead of imposing travel or trade restrictions, WHO proposed strengthening airport surveillance as a measure to prevent the spread of Wuhan pneumonia.

Didier Houssin, Chair of the WHO Emergency Committee, stated at a press briefing after the emergency committee meeting, "It is too early to consider this an international public health emergency of concern."

However, he introduced that the opinions of the committee members were almost evenly split, about 50 to 50. The day before, WHO Director-General Tedros Adhanom Ghebreyesus also explained that opinions among committee members were sharply divided over whether to declare an emergency.

Director-General Ghebreyesus said, "We are aware that there is human-to-human transmission within China," and "Transmission is occurring limitedly among healthcare workers, and currently, there is no evidence of human-to-human transmission outside China."

Ghebreyesus also showed a cautious stance regarding the risk of Wuhan pneumonia. He explained, "The virus causes mild symptoms in most people, but we also know that it can cause severe illness and lead to death," adding, "Most of the deceased had weakened immunity due to conditions such as hypertension, diabetes, and cardiovascular diseases."

Meanwhile, following the WHO announcement, the turmoil in the financial market appears to be calming. On the same day, the Dow Jones Industrial Average in New York briefly fell more than 200 points in the morning, but after the WHO announcement, the decline narrowed, and as of 2:40 p.m., it was trading at 29,162.96, down 23.31 points (0.08%) from the previous day. The S&P 500 and Nasdaq indices reversed to gains.