The world has hit yet another grim milestone this week, as the number of global coronavirus cases hit 40 million on Monday according to data compiled by Johns Hopkins University. The somber 40,050,902 cumulative confirmed cases come amid a surge in infections across Europe and the US following the easing of restrictions throughout the summer months.
The seriousness of the second wave of the virus emerged back in August across several countries in Europe, after domestic tourism and local economies were reopened following their shut-down during the spring. European governments have been scrambling to gain a foothold in containing the virus’s rapid spread by once again reimposing restrictions on the hospitality sector and public life. In Paris, pubs, bars, and restaurants have either been ordered to close or restrict their operating hours, while social gatherings have been restricted to limited numbers.
On Friday, the World Health Organization (WHO) has sounded the alarm over the coronavirus outbreak in Europe, as the availability of intensive care beds are becoming increasingly reduced. In fact the second wave of the virus is becoming so severe in Europe that the number of new daily infections have surpassed that of the US. When adjusted for population, and based on a seven-day average, Europe has 187 daily new cases per 1 million people, while the US has 162 new COVID-19 cases per 1 million.
However the number of daily cases has not declined whatsoever, rather on the contrary. According to the Covid Tracking Project, hospitalizations from the virus have been on the rise across many US states, growing by more than 5% compared to the week prior. In the meantime, the total number of cases is rising above 8 million, while deaths have surpassed 200,000. The grim data comes amid the growing debate regarding the effectiveness of current public safety measures imposed by top US health officials.
Information for this briefing was found via Johns Hopkins University and the Covid Tracking Project. 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.