Breaking news out of Texas where the city of Austin just announced it’s declaring a local disaster and canceling the South by Southwest festival:

This is a lot of lost revenue for Austin:

Earlier in the day, Miami canceled the Ultra Music Festival and Calle Ocho:

It’s looking more likely that coronavirus *will* have a major impact on our economy and it’s just a matter of when:

Just look at what’s happening in Europe right now:

And from Congress/White House:

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