Tuesday, Feb 25, 2020 | View in browser

Good morning.

We’re covering the fallout in world markets as coronavirus spreads outside China, President Trump’s visit to India and the conviction of Harvey Weinstein.

By Melina Delkic

Anti-septic solution is sprayed at the Korean National Assembly in Seoul on Monday. It was a precaution after someone confirmed to have the virus entered the building. Chung Sung-Jun/Getty Images

Coronavirus hammers financial markets

New clusters of viral infections, concentrated in South Korea and in Italy’s Lombardy region, spooked investors about widespread damage to the global economy.

The S&P 500 dropped 3 percent, approaching its biggest loss in two years. South Korean markets were down nearly 4 percent, and major European benchmarks were down 3 percent or more.

Investors are “rethinking their knee-jerk calls that the economic impact of the virus would be transitory and largely limited to China and its Asian neighbors,” said Matt Phillips, our colleague on the business desk.

The World Health Organization warned that the world was not ready for a major outbreak, even as it praised China’s aggressive efforts to control the epidemic, with the rate of infections now apparently slowing there. Nevertheless, the virus now threatens to become a pandemic that could touch virtually every part of the globe.

■ South Korea: The number of cases skyrocketed to more than 800, a nearly 30-fold increase from just days ago, with seven deaths.

■ Italy: More than 200 people have been reported infected and tens of thousands are on lockdown, prompting fear that the virus is now effectively a Europe-wide problem — the ultimate stress test for open borders.

■ Iran: At least 12 people have died, and experts fear that the number of infections is much higher than the country has let on.

■ United States: The number of cases jumped to 53, most of them connected to the Diamond Princess cruise ship. All the cases involve people who had traveled to Asia.

Read the latest news, maps of where the virus has spread and a recap of what we know.

If you have 6 minutes, this is worth it

In Australia, ‘nature can be vicious’

Matthew Abbott for The New York Times

Australia’s hellish fire season has finally eased, after a foot of rain ended a crippling drought. But the chaos is far from over. Above, a forest near Lake Conjola in New South Wales.

With floods now destroying homes not far from where the wildfires raged, residents are confronting a cycle of what scientists call “compound extremes” — one climate disaster intensifying the next.

Here’s what else is happening

Harvey Weinstein: The disgraced Hollywood producer, whose history of sexual misconduct ignited the global #MeToo movement, was found guilty of rape and a criminal sexual act, and acquitted of three other charges. He faces a possible sentence of between five and 25 years.

India: President Trump joined Prime Minister Narendra Modi for a rally in a 110,000-seat cricket stadium in Ahmedabad. It was an unabashed homage to Mr. Trump, who revels in a spectacle, even if a sizable portion of the crowd left before he finished his speech.

Malaysia: Mahathir Mohamad, the country’s 94-year-old prime minister, submitted his resignation. But in a confusing twist, Mr. Mahathir did not actually give up leadership — he was quickly named interim prime minister.

Canada protests: The police moved to break up a two-week rail blockade in Ontario that was part of a nationwide movement to stop a natural gas pipeline from being built through Indigenous land.

Germany: A driver was arrested after he slammed his car into a crowd at a carnival gathering in Volkmarsen, injuring about 30 people. The authorities suspect that the driver acted deliberately, but it was unclear what his motive was.

Yuliya Parshina-Kottas/The New York Times and Mika Gröndahl/The New York Times

Snapshot: Above, the Corset d’Amour, by Christian Louboutin. The Times worked with the high-end French designer to produce a 3-D tour of his favorite shoes and talk about his new exhibition in Paris.

What we’re reading: This Bon Appétit report on the makeshift kitchens that have popped up at a camp along the U.S.-Mexico border. Kim Severson, our national food correspondent, calls it “proof that the drive to cook never leaves, even under the most difficult of circumstances.”

Now, a break from the news

David Malosh for The New York Times. Food Stylist: Simon Andrews.

Cook: All you need is some crusty bread to mop up the garlicky, lemony flavors of shrimp scampi. (Our Five Weeknight Dishes newsletter has more recommendations.)

Listen: “No Time to Die” makes Billie Eilish, 18, the youngest artist ever to record a James Bond theme song, and sees her slipping into a boomer-approved role.

Read: With a clear voice and a bit of suspense, Karen Blumenthal’s “Jane Against the World” charts the rocky road that led to legal abortion in the U.S.

Smarter Living: Losing an earring, even a cheap one, can be an emotional experience — maybe it’s the sight of the remaining earring alone in the jewelry box, missing its partner. But if you do lose one, don’t despair: there are online communities that can help you find the right replacement.

And now for the Back Story on …

Following Kanye out West

An eccentric global celebrity has become an everyday presence in a tightly connected town of about 10,000 people. Jonah Bromwich, a features reporter, visited Cody, Wyo., to learn more about how locals feel about the new superstar next door: Kanye West. He chatted with Lindsey Underwood, an editor, about what he found there.

Lindsey: What’s Kanye doing in Cody?

Jonah: He’s living there, first of all. That was surprising to me. He’s there a lot, he’s made friends with a lot of the people who live there, and people have gotten used to seeing him around. I was there asking questions about him for a couple of days, and it got back to him pretty quickly. He’s also moved his brand, Yeezy, there. So he’s designing shoes, making music, basically being Kanye, but in Wyoming.

Lindsey: Cody has been an enclave for the rich and famous for some time. What’s the appeal?

Jonah: It’s one of the most beautiful places I’ve ever been. It’s really close to Yellowstone, and it’s just unbelievable looking. Sky, mountains, wild animals, etc. There are actually a lot of bears, which is probably appealing for some people.

The sign marking the entrance to Cody, Wyo., from Highway 120. Elliot Ross for The New York Times

Lindsey: So, missing from the piece is Kanye himself.

Jonah: Yes 😭

Lindsey: What happened?

Jonah: Well it was always conceived and pitched as a piece about Cody itself, not about Kanye. But it was inescapable that I was walking around the place where he lives asking people about him. Word got back to him fairly quickly that I was there. And then we had a weekslong conversation with his publicist, culminating in them agreeing to an interview. I booked flights to go back to Cody, and the next day my editor called me and told me that they had canceled the interview.

I almost wanted to say “they pulled on the deal,” because that’s how Kanye described what happened to him when he was originally going to be given his record contract in “Last Call.”

This interview was conducted for “Wait …,” our newsletter about how celebrity and technology are changing our world. It has been edited and condensed.

That’s it for this briefing. See you next time.

— Melina

Thank you
To Mark Josephson and Eleanor Stanford for the break from the news. You can reach the team at briefing@nytimes.com.

P.S.
• We’re listening to “The Daily.” Our latest episode is about the corporate push to fight climate change.
• Here’s our Mini Crossword, and a clue: Fireplace fuel (four letters). You can find all our puzzles here.
• Tyson Wheatley, a travel photographer and pioneer on Instagram, is joining The Times to oversee the strategy and development of its presence on the platform.