The Arizona Department of Health Services confirmed a "presumptive positive" case of coronavirus in Maricopa County, per FOX10 News.

Key details

The COVID-19 case involves a man in his 20s who is not hospitalized and is recovering at home.

The man is a known contact of a "presumptive positive" coronavirus case outside of Arizona who recently traveled to an area with community spread of the virus.

So far in Arizona, 32 people have been tested, with one testing as a confirmed positive, and the other as a "presumptive positive."

There are now nearly 90,000 cases worldwide and 91 in the United States. More than 3,000 have died; six deaths have been in the US, specifically in Washington state.

Market implications

The dust seems to be settling in after the Fed’s surprise 50bps rate cut induced broad risk-aversion. The US Treasury yields are making recovery attempts while the S&P 500 futures drop 0.40%.

The risk sentiment remains sour, with USD/JPY still down nearly 1% near 107.25, flirting with a fresh five-month low of 107.18.

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