Germany's Merkel: Experts say 60-70% of population will be infected by coronavirus

"We must all understand coronavirus has arrived in Europe," German Chancellor Angela Merkel said on Wednesday. "Experts say that 60-70% of the population will be infected by coronavirus."

"We must slow the spread of coronavirus. It's about winning time in slowing spread of coronavirus," Merkel reiterated and argued that countries shouldn't isolate each other in Europe. "Every EU country must contribute to efforts to counter the economic impact of coronavirus."

Market reaction

These comments had little to no impact on market sentiment. As of writing, Germany's DAX 30 was up 1.2% on the day and the Euro Stoxx 50 was adding 1.5%.