Despite lockdown measures being lifted around the country and non-essential businesses beginning to open their doors, the coronavirus death toll continues to rise to alarming levels within the United States.
According to the most recent data from John Hopkins University, the coronavirus outbreak in the US is among the world’s deadliest. The US has now surpassed 100,000 deaths, and accounts for 30% of the world’s total infected cases. However, that does not seem to be of concern to President Donald Trump, who is strongly pushing for the reopening of states in favor of preserving the economy.
In the meantime, unemployment numbers in the US have reached over 38.6 million in just a span of over two months. In addition, the GDP level fell by 4.8% since the beginning of the year, making the first quarter of 2020 the largest economic contraction since the 2008 financial crisis.
Information for this briefing was found via CNBC, John Hopkins University, and US Department of Labour. 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.