• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Coronavirus

‘Tip of the iceberg:’ Why Covid-19 deaths will keep rising even as the coronavirus outbreak wanes

By
Robert Langreth
Robert Langreth
,
Michelle Fay Cortez
Michelle Fay Cortez
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Robert Langreth
Robert Langreth
,
Michelle Fay Cortez
Michelle Fay Cortez
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 13, 2020, 8:00 AM ET
Add Fortune on Google for similar content.

As signs emerge that China’s coronavirus outbreak may be moderating, a morbid reminder of the disease’s toll is expected to persist, or even rise, in the days to come.

While new cases reported in China appeared to decline after a Feb. 4 peak, the number of dead has grown to around a hundred a day — double the daily count of just a few weeks ago.

But those deaths aren’t a sign the virus is getting more deadly, according to experts.

“Deaths are a lagging indicator,” said Marc Lipsitch, an epidemiologist at Harvard University, who is modeling the outbreak. Once people are infected, “it takes around three weeks on average for someone to die.”

On Thursday, the Hubei province where the outbreak is centered issued a revised count of cases and deaths, using a new methodology. The new method adds 13,332 new cases and 135 deaths to the total in the province — infections that were diagnosed using medical imaging but not a lab test.

Across China, more than 1,300 people have died from the virus and more than 59,000 have been infected, according to authorities. Outside experts have said the number of cases is likely far higher, and Hubei’s announcement that it was counting thousands of new cases in its total will likely add to that analysis.

As of Wednesday, there were 8,204 patients classified as severe cases, according to numbers released by Chinese officials. New confirmed cases have fallen to about 2,000 a day, down from a peak more than 3,500 daily cases last week.

“If cases only plateaued a week ago, we might expect numbers of new deaths to continue to rise for some time yet,” said Steven Riley, professor of infectious disease dynamics at Imperial College London’s MRC Centre for Global Infectious Disease Analysis.

The chaotic nature of the outbreak combined with limited access by international experts to Hubei province, where it began, has made it hard to know the full extent of the epidemic. Bloomberg and other news outlets have reported on a health-care system overwhelmed by the disease, with some severe patients turned away and sent home — making a final count of deaths far more difficult.

“It may be by far that the vast majority of people are those who died at home,” said Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota’s medical school. “We may never know how many people have died from this disease in China. I don’t think we ever will.”

Medical personnel on a mission to help the Covid-19 patients in Hubei province wait to get onboard the express train leaving Nanchang city in central China’s Jiangxi province on Feb. 13, 2020.
Feature China/Barcroft Media via Getty Images

Health experts have been working to estimate the deadliness of the disease. A crude analysis done by dividing the number of deaths by the number of confirmed cases yields a mortality rate of about 2%. Other estimates that attempt to account for undiagnosed, milder cases have put it closer to 1%.

“It’s dropping every day as the number of tested patients is going up,” Soumya Swaminathan, chief scientist of the World Health Organization, said in an interview.

Making matters more confusing, the crude mortality rate mixes together a wide variety of disparate populations.

“We are seeing the tip of the iceberg, and it is a very large iceberg,” said Harvard’s Lipsitch.

Confounding Numbers

There are people who were hospitalized for other conditions in Wuhan and who then acquired the infection from coronavirus patients in the same facility. The numbers also include severe cases in Hubei province and other parts of China who were diagnosed early, precisely because of the gravity of their illness. And there is a large swath of healthier patients with mild cases, who are more likely to recover but less likely to ever be diagnosed.

“You are seeing case fatality rates in different populations being glommed together,” said David Fisman, an infectious disease doctor at the University of Toronto. The coronavirus death rate in vulnerable patients may not be relevant to healthy people who get the virus through everyday contact, he said.

While many people want to compare the outbreak to SARS, a coronavirus outbreak from 2002 and 2003 that infected more than 8,000 people and killed almost 800, a better comparison is seasonal influenza, said Anthony Fauci, head of the NIH’s National Institute of Allergy and Infectious Diseases.

Seasonal flu kills about 0.1% of those infected, while pandemics in 1957 and 1968 had mortality rates closer to 1%. The catastrophic 1918 contagion, known as the Spanish flu, had a 2% mortality rate, similar to what’s seen now in Chinese hospitals, Fauci said.

“It’s very different from influenza, but it would be acting like a really bad influenza season,” he said.

The uncertainly about how nasty the virus will turn out to be is a problem for public health officials trying to prepare for its potential spread around the world.

The death rate “is a number that we really can’t nail down at the moment,” said Ian Mackay, a virologist at the University of Queensland in Australia. “It is hard because we need that number to know how much to prepare.”

More must-read stories from Fortune:

—Stock scammers are using coronavirus to dupe investors, SEC warns
—Credit Suisse making a comeback, but spying scandal drags down outlook
—Why China is still so susceptible to disease outbreaks
—A new coronavirus red flag on the horizon—a stronger dollar
—Fortune Explains: Tariffs and trade wars

Catch up with Data Sheet, Fortune’s daily digest on the business of tech.

About the Authors
By Robert Langreth
See full bioRight Arrow Button Icon
By Michelle Fay Cortez
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in International

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Most Popular

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
1 day ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
3 days ago
Current price of silver as of Friday, July 24, 2025
Personal Finance
Current price of silver as of Friday, July 24, 2025
By Joseph HostetlerJuly 24, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.