As many parts of the US transition towards the cooler climate of fall and winter, the number of coronavirus cases have been on an alarming rise. According to the latest data compiled by Johns Hopkins University, the average number of COVID-19 cases across the US within the past week has risen to 68,767 – the highest seven-day average recorded since the onset of the pandemic back in March.
The sudden spike in coronavirus cases has overwhelmed many hospital systems across the US, and in turn, local government officials have imposed new restrictions and curfews in some regions of the country. On Friday, the US recorded a total of 83,757 new cases, the highest number of cases registered in one single day. According to the Covid Tracking Project, more people are being tested for the virus than ever; however, the sudden surge in cases cannot be attributed to increased testing, given that the percentage of positive tests have also been on the rise.
As an increasing number of Americans transition their time into the indoors, where there is poorer ventilation and the virus can spread more easily, the number of new cases will likely continue to increase. Moreover, with several widely-celebrated holidays such as Halloween and Thanksgiving just around the corner, the now-established third wave of the pandemic in the US will likely not subside anytime soon. In fact, former FDA Commissioner Dr. Scott Gottlieb noted to CNBC that forthcoming new coronavirus cases will likely revert to exponential growth across much of the country.
Meanwhile across the ocean, Europe appears to be battling its second wave of the pandemic, which is panning out to be significantly more severe than the first. France recorded 52,010 new cases on Sunday, which is the highest single-day count across all of Europe. However, according to Jean-François Delfraissy, who is the lead on the scientific council that provides pandemic-related advice to the French government, the real number of infections is likely in the hundreds of thousands given how rapidly the virus has been spreading.
Spain has also been facing a resurgence of the virus, which has prompted the country’s government officials to declare a state of emergency. As a result of the newly-imposed restrictions, gatherings in Spain have now been limited to six people, while nation-wide curfews between 11:00 PM and 6:00 AM have now confined people to their homes. Last week, Spain was the first Western European country to exceed 1 million confirmed cases, with new cases rising at an extreme rate.
Information for this briefing was found via Johns Hopkins University, CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.