Warren Buffett calls coronavirus outbreak 'scary stuff' but expresses optimism over stocks

Amid unprecedented outbreak of dely coronavirus, American businessman and billionaire, Warren Buffett called it “scary stuff” on Tuesday, February 25. While appearing in an interview with an international brocaster, Buffett ackwledged that ecomic growth has been slowed down in wake of epidemic which started in China but said he remains confident about long-term future of American business.

He also said that stock investments have pointed to market being 'little softer' than it was six months ago but showcased optimism regarding growth. However, he still thinks that virus outbreak should t affect stocks. 

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"This is scary stuff. I don’t think it should affect what you do in stocks,” Buffett said. “In terms of human race, it’s scary stuff when you have a pandemic.”  “Twenty or 30 years from w, American business — and probably all over world — will be far better than it is today,” Buffett ded. 

Death toll surpasses 2,600

Buffett's optimistic statements about market came as death toll in China surpassed 2,600 and National Health Commission reportedly confirmed 508 new cases. total number of confirmed cases within China also hit nearly 77,000. First detected in city of Wuhan, in Hubei Province of China, virus outbreak has w spre across more than 25 countries since December 2019 and more than 1,700 people have recovered from disease and nearly 12,500 coronavirus patients have by w been reportedly discharged from hospitals.

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WHO chief Tedros ham Ghebreyesus has also claimed that biggest fear for organisation is that virus will continue to spre to or countries and especially those with weaker health systems. Furrmore, organisation has also called on world to pledge $675 million in support of most vulnerable countries. 

Consequently, China's President Xi Jinping reportedly said that epidemic is communist China's 'largest public health emergency' since its founding in 1949. Jinping furr called outbreak a 'crisis' and said that epidemic has 'fastest transmission' and widest range of infection which has been most difficult to prevent and control. 

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(With AP inputs)