🚨 Coronavirus Pandemic Reaches Manhattan, NYC; Stock Exchanges Readying Contingencies

It’s here. Coronavirus has been detected in a woman who returned from travel in Iran.

New York Government Andrew Cuomo’s office issued the following statement:

“This evening we learned of the first positive case of novel coronavirus — or COVID-19 — in New York State. The patient, a woman in her late thirties, contracted the virus while traveling abroad in Iran, and is currently isolated in her home. The patient has respiratory symptoms, but is not in serious condition and has been in a controlled situation since arriving to New York.

“The positive test was confirmed by New York’s Wadsworth Lab in Albany, underscoring the importance of the ability for our state to ensure efficient and rapid turnaround, and is exactly why I advocated for the approval from Vice President Pence that New York was granted just yesterday.

“There is no cause for surprise — this was expected. As I said from the beginning, it was a matter of when, not if there would be a positive case of novel coronavirus in New York.

“Last week I called for the Legislature to pass a $40 million emergency management authorization to confront this evolving situation — I look forward to its swift passage.

“There is no reason for undue anxiety — the general risk remains low in New York. We are diligently managing this situation and will continue to provide information as it becomes available.”

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The Gotham Gazette reports that “Cuomo and Mayor Bill de Blasio will hold a rare joint press conference on Monday morning from Cuomo’s Manhattan office.”

Meanwhile, Reuters reports that the major exchanges have prepared for this day. Reuters reports:

Nearly all U.S. stock trading is done electronically, with only Intercontinental Exchange Inc’s NYSE still operating an open outcry trading floor. But even the Big Board can operate fully electronically if the floor needs to be shut. The exchanges said they are monitoring the situation.

“The NYSE is carefully monitoring the spread of COVID-19 and has robust contingency plans, tested regularly, to enable continuous operation of the NYSE exchanges should any facilities be impacted,” a spokesman said in a statement.

“Cboe has business continuity plans in place for a wide variety of scenarios that could potentially impact operations,” said a spokeswoman for rival exchange operator Cboe Global Markets. “We are closely monitoring developments related to coronavirus.”

“The safety of Nasdaq employees, vendors, visitors is paramount. We continue to follow the updates and act and communicate accordingly,” said a spokesman for Nasdaq Inc.

READ THE FULL REPORT AT NASDAQ.com