US' Fauci: US coronavirus outbreak could get worse in coming weeks

The US coronavirus outbreak will likely get worse in coming weeks, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said on Sunday while speaking at an NBC event, while adding that hospitals around the country are reporting shortages of ICU beds for patients.

"You usually have a couple of week lag before you see an additional uptick of cases, which is always followed by hospitalizations and deaths," Fauci said. 

Other advanced nations are also taking steps to counter fears over the new strain of the virus. According to New Zealand's ministry of health statement, travelers to New Zealand from the US and UK will now be required to show a negative test for Covid-19 before departure. Further, they would need to take a test on their arrival in quarantine in addition to those on days three and 12. 

Meanwhile, South Korea has now imposed a country-wide ban on private gatherings of more than four people. Scotland is also considering stricter measures, and Japan is mulling declaring a national emergency. 

The resurgence of coronavirus fears may weigh over risk assets, pushing the safe-haven US dollar higher.