WHO reports record daily increase in global coronavirus cases, up over 230,000

Ross J Burland FXStreet

The World Health Organization reported a record increase in global coronavirus cases on Sunday, with the total rising by 230,370 in 24 hours.

The biggest increases were from the United States, Brazil, India and South Africa, according to a daily report. The previous WHO record for new cases was 228,102 on July 10. Deaths remained steady at about 5,000 a day.

Global coronavirus cases were approaching 13 million on Sunday, according to a Reuters tally, marking another milestone in the spread of the disease that has killed more than 565,000 people in seven months.

Market implications

Meanwhile, equity markets firmed again on Friday and remain complacent to the risks of a second wave of lock downs and economic downturns.

Talks of a fourth phase of fiscal stimulus is gaining momentum in the US but Republicans are still very keen to try to keep the size of this package below USD1 trillion. Congress is aiming to reach an agreement by the end of the month although both sides remain far apart on key initiatives like stimulus cheques,

analysts at ANZ Bank explained.

At the close of business on Friday the S&P 500 was up 1%.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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