Global stocks retreat as investors fret over coronavirus relapse

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Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic.

The daily count of infections hit a new high in California and Texas, the two most populous states in the country, while Florida, the third largest, also recorded its second-highest daily increase.

In China, Beijing cancelled scores of flights, shut schools and blocked off some neighbourhoods as it ramped up efforts to contain a coronavirus outbreak that has fanned fears of wider contagion. “All this suggests that the more you re-start the economy, the more infections you have. People have thought the economy will quickly recover in July-September after dismal April-June. But that is now becoming uncertain.”Some investors also worried about further paralysis in Washington as Trump’s former national security adviser John Bolton accused him of sweeping misdeeds that included explicitly seeking Chinese President Xi Jinping’s help to win re-election.

Investors rushed to the safety of bonds, with the 10-year U.S. Treasuries yield US10YT=RR falling 2 basis points to 0.710%.

 

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Because Trump bullied Republican Governors to open their states up way too early. Almost every state now with numbers through the roof, besting records daily, opened too early.

Oh it's going to get MUCH worse in 10 days.

Worldwide gains shrink while succubi SIMP for COVID19 FuckReuters ACAB2020

Why are health experts so worried about coronavirus?

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