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The risk level of the coronavirus outbreak in the European Union has risen to “high” from “moderate”, European Commission President Ursula von der Leyen announced on Monday in a press conference.

Furthermore, Stella Kyriakides, European Commissioner for Health and Food Safety, noted that there are 2,100 confirmed coronavirus cases in 18 EU member states with 38 fatalities. “It is not a time for panic or misinformation,” Kyriakides added. In the meantime, Commissioner Johansson says said there is no indication of the EU states wanting to introduce border checks due to coronavirus.

Risk aversion

Flight-to-safety in financial markets continues to intensify ahead of the American session. As of writing, the 10-year US Treasury bond yield was down 8% on the day.