China’s Hubei province confirmed that 3,156 new coronavirus cases and an additional 65 deaths occurred overnight. It is assumed that all of the deaths are due to 2019-nCoV, more commonly known as the coronavirus. The epidemic began in Wuhan, the capital city in the province with a population of about 11 million.

As of Tuesday morning, the global death count is 427 and the confirmed number of cases may soon pass the 21,000 mark.

Most sectors of business have been affected. Industries are shutting down in Wuhan and countries are evacuating their citizen and placing them in two-week quarantine facilities. Ten people on a Princess Cruises cruise ship docked in Japan tested positive and were taken ashore to local hospitals.

A few businesses will thrive. 3M company is upping the production of respiratory masks. Bleach and cleaning manufacturer Clorox is boosting production even as the World Health Organization (WHO) advises that bleach may not work against the virus.

Janet Yellen, the former U.S. Federal Reserve chair, commented that the coronavirus is “a potential influence on the global economy.” Other evidence of that “potential influence” include:

  • The CFO at Disney, Christine McCarthy, said the company expects an impact of $135 million on second-quarter operating income from the Shanghai park and about $40 million from the closure of the Hong Kong park.
  • Automotive research firm IHS Markit expects automakers to lose about 350,000 units of vehicle production in the first quarter as local Chinese governments keep plants closed to keep the new coronavirus from spreading. 1.7 million units of lost production are predicted if the shutdown lasts into March.
  • Royal Caribbean Cruises' earnings are expected to take a hit of 25 cents per share after canceling eight cruises out of China and changing other itineraries in the region because of the outbreak.
  • One toy manufacturer, Basic Fun, that makes K’nex and Lincoln Logs, unwittingly buffered themselves when they imported extra toys in late 2019 ahead of the outbreak to avoid possible future tariffs imposed by U.S. President Donald J. Trump on China. They will not begin to feel the sting of the coronavirus until later in the year if the potential pandemic continues.
  • Macao, the world’s biggest gambling hub, has asked all casino operators to suspend operations for two weeks to help curb the spread of the virus.

The WHO, social media companies, internet giants and other agencies are fighting another battle and that is to prevent the spread of misinformation that may cause overreactions and possibly panic. Fake alerts and posts on social media that mimic a WHO announcement include such false claims that garlic, special oils or a vitamin concoction can cure the illness.

David Heymann, who led WHO’s efforts during the 2002-2003 SARS epidemic, said, “One of the most important ways of stopping respiratory outbreaks such as this is washing hands.”

Johns Hopkins senior scholar Dr. Amesh Adalja told CNBC’s “Squawk Box” that he expects the outbreak to develop into a “mild pandemic” and become a member of the regular seasonal respiratory virus family with mostly mild cases.

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