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US Investors Spooked Over Spiking Coronavirus Cases

By June 25, 2020 news

Violent spikes of COVID-19 cases in America delivered another reality check to those who had their hopes high for a speedy economic recovery and complete victory over the coronavirus pandemic.

The South and West of the U.S. have seen accelerated numbers of cases, which threaten to cancel the plans of economic relaunch. To limit the spread of coronavirus, the economy remained almost frozen for months. In the past several days, the number of hospitalised and infected have surged primarily in California (7,000 new cases) and Arizona (50% from a week earlier), making it the largest jump thus far.

According to the latest report, around 48% of all COVID-19 positive cases have been among people between the ages of 22-44.

The investors are not concerned about the “second wave” yet, as America is still going through its first pandemic wave. The equity market closed Wednesday with its biggest sell-off since June 11. This year, the market experts have to brush up on their knowledge of Epidemiology in an attempt to predict the future implications on the global economy, caused by the pandemic. 

  • the Dow Jones Industrial Average DJIA, -2.71%, 
  • the S&P 500 index SPX, -2.58% 
  • the Nasdaq Composite Index COMP, -2.19% 

New York has introduced a 14-day quarantine protocol for travelers coming from a number of states, primarily from Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah and Texas. 

Experts explain the coronavirus flare-ups by poor adherence to social distancing rules and the early lifting of curfew policies. They suggest that stricter public health measures must be applied, if Americans want to return to their normal lives sooner.

Dr. Robert Quigley, senior vice president and regional medical director of International SOS, a medical security and travel-safety company, said that it’s difficult to place blame on any state for the resurgence in cases.

However, Dr. Quigley agrees with his fellow colleagues: “What we do know is that if we are compliant with social distancing and universal precautions, not limited to sanitizing our hands and wearing a mask at all times possible, the likelihood of transmitting the disease is remarkably lower.” 

“Even as an immunologist, I am struggling with some of the characteristics of this novel virus and its behavior,” he added, referring to the highly contagious nature of the virus.

Another insightful comment was made by Dr. Jeremy Faust, indicating that the governments need to be “data driven not date driven.”