US stocks fell Thursday as coronavirus cases spiked nationwide, threatening the economic ongoing recovery.
States such as Texas, Florida, and Arizona are seeing spiking COVID-19 rates, and there's been an uptick in cases globally as well. US weekly jobless claims totaled 1.5 million in the week that ended Saturday, roughly in line with the previous week and slightly above economist forecasts.US stocks slumped on Thursday as investors weighed rising coronavirus cases and jobless claims that were largely unchanged from last week.
Coronavirus cases are spiking in states such as Texas, Florida, Arizona, and California, threatening to slow economic-reopening efforts across the US. Global cases of COVID-19 are also on the rise. "Whether we're seeing a second wave or just a continuation of the first wave, the outbreak may reverse actions taken by governments to re-open their economies, hence curbing hopes of a smooth recovery," said Hussein Sayed, chief market strategist at FXTM., roughly in line with the previous week and slightly above economist forecasts.
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