WHO: No current therapeutics thought to be highly effective against coronavirus

"There are no current therapeutics that are thought to be highly effective against coronaviruses in general," Dr Mike Ryan, executive director of World Health Organization (WHO), told reporters on Wednesday.

Dr Ryan further announced that there will be a WHO meeting on coronavirus drugs, diagnostics and vaccines in Geneva on February 11-12. "Next week hundreds of researchers and agencies will meet to set priorities on coronavirus drugs and vaccines," Dr Ryan added.

Risk-on flows continue to dominate

These comments' impact on the market sentiment was muted. As of writing, the Dow Jones Industrial Average and the S&P 500 were up 1.1% and 0.8%, respectively, while the Nasdaq Composite was adding 0.12%.