Coronavirus update: New COVID-19 cluster in China, seventh day of above 5,000 cases from Texas

Anil Panchal FXStreet

The death toll from COVID-19 reached half a million people on Sunday, as per Reuters tally. The update also highlights more than 10 million reported coronavirus (COVID-19) cases.

Elsewhere, Texas registered the seventh day when the pandemic cases are over 5,000 per day while California marked an increase of 4,810 cases to 21,243 total, as per the Reuters reported relying on the State Health Department. The news additionally suggested that the Positivity rate over the 14-day average is trending modestly upward in Texas. It's worth mentioning that numbers from Los Angeles County surged by near-record of 2,542 to the toal of 97,894 by Sunday.

Furthermore, China’s Anxin County announced heavy lockdown restrictions like Wuhan adhered to during the early outbreak of the deadly virus. Additionally, Tokyo marked 60 new cases, the highest since the state of emergency was ended on May 25.

Market implications

All these factors together signal the return of the pandemic and weigh on the market’s risk-tone. While portraying the same, S&P 500 Futures drop 0.11% to 3,003 by the press time.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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