Stocks were down again for much of the day on Thursday as coronavirus cases continued to climb, but those losses were reversed after the World Health Organization declared a global health emergency. The WHO noted, however, that it had confidence in China's ability to control the virus. The outbreak is certain to dent China's economy, but there's no telling what it will do to the U.S., writes CNBC's Patti Domm.
White House economic advisor Larry Kudlow on Thursday said he doesn’t see a material effect on the U.S. economy from the virus. But the disease is still spreading and generating hourly headlines.
“It’s going to have a hit on Chinese spending,” said Jonathan Millar, Barclays U.S. economist. “We may see more of it in the U.S. but we just don’t know at this point. It’s very uncertain.”
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