Italy's COVID-19 Death Toll Rises to 5, "Highest Outside Asia"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] As the novel coronavirus infection (COVID-19) rapidly spreads in Italy, the death toll rose to 5 on the 24th (local time). Excluding Asia, including China, Iran, and Korea, this is the highest number of deaths. Confirmed cases have exceeded 200.

According to ANSA news agency and others, the Italian health authorities announced that as of this day, there have been 5 deaths and 219 confirmed cases due to COVID-19. On this day, two people, including an 84-year-old man diagnosed with COVID-19 in Bergamo, Lombardy in northern Italy, died. This man was hospitalized in a hospital in Bergamo for treatment of a pre-existing condition when the virus infection was confirmed.

The area where COVID-19 is spreading most rapidly in Italy is Lombardy in the north. Four deaths and 167 confirmed cases have been reported here. Following this, confirmed cases are also increasing in Veneto, the capital of Venice. Italy ranks third in the world in the number of confirmed cases after China and Korea.

As COVID-19 spreads rapidly, most schools, museums, art galleries, and libraries in northern Italy have been closed. The world-famous Venice Mask Festival's remaining schedule on the 24th and 25th has been canceled, and various sports events including soccer have also been canceled or postponed.

Due to concerns over economic damage caused by the spread of COVID-19 in Italy, major European stock markets are plummeting by more than 3-4%. At 12:16 a.m. on this day, Italy's benchmark FTSE MIB index was trading at 23,580.38, down 4.81% from the previous trading day. At the same time, Germany's DAX index and France's CAC40 index fell by 3.76% and 3.79%, respectively, and the UK's FTSE100 index also dropped 3.51% to 7,143.99. The pan-European EuroStoxx 600 index fell 3.70% at the same time.

Major European stock markets opened down 2-3% and are falling further. This is because COVID-19 is spreading rapidly in Italy, contrary to expectations, and it is seen as likely to impact the economy.