The novel coronavirus that threatens to hobble the global economy, causing travel restrictions and the closure of some U.S. retail stores in China, is expected to stabilize in April, according to a projection from S&P Global Ratings.
S&P's analysts said a worst-case scenario would involve the virus spreading into late May, with an optimistic prediction calling for an end to transmissions in March. The firm said the impact on economic activity in Asia could peak around the middle of the year before an economic rebound in 2021.
There has yet to be a confirmed case of the coronavirus in New York state.
The city Health Department said Thursday morning that two people suspected of having coronavirus have tested negative. Samples from three others are awaiting results from the Centers for Disease Control and Prevention.
The novel coronavirus that has caused an outbreak in China this year is a respiratory illness that causes flu-like symptoms, such as fever, cough and shortness of breath. It can be spread through close contact with an infected person who coughs or sneezes. The fatality rate has been about 4.1% in Wuhan and less than 1% in China outside of the Hubei province where Wuhan is located.
More than 28,200 people have been diagnosed with coronavirus in Asia, and 565 have died in China, according to The New York Times.
Twelve cases had been documented in the U.S with no fatalities reported as of Thursday morning.
Brad Hutton, a deputy commissioner at the state Health Department, said Thursday that the state has run drills to prepare for how it would respond to a confirmed case and identify the person's recent contacts to stop the spread of the virus.
"It really is a success that thus far we have 12 cases in the U.S. only," Hutton said during a meeting of the state Public Health and Health Planning Council. "The fact we have so few is the result of the travel actions taken by the Chinese government and the U.S. government to restrict travel."
This article originally appeared in Crain's New York Business.