The World Health Organization reported 7,902 new cases of COVID-19, more popularly know as the coronavirus, between Feb. 18 and Feb. 24 to bring the global total to 79,331 cases. Over that period, global equities fell 3.7% (MSCI ACWI index) while U.S. equities fell 4.3% (S&P 500 index) and, notably, South Korean equities fell 5.9% (KOSPI index). Prior to Feb. 18, all three were in the black for the year despite growing concern over the virus' infection rates in mainland China.
Safe havens such as U.S. Treasuries rallied over the period as yields fell to 1.37% from 1.56% over the six-day period. Year-to-date, yields are down 28.5% from 1.92% at the start of the year.