Financial markets opened another day of wild volatility on Monday, with U.S. stock futures sharply lower, oil prices tumbling and gold prices falling after surging higher on news of the weekend’s outbreak. At present, the total number of confirmed covid-19 cases has exceeded 720,000 globally, among which the total number of confirmed covid-19 cases has exceeded 140,000 in the United States, which is still the country with the most confirmed cases in the world. Investors are concerned that an outbreak of COVID 19 could seriously damage the global economy, which is bad for oil demand.
The latest development of the global epidemic: the total number of confirmed cases worldwide exceeded 720,000 and the number of confirmed cases in the United States exceeded 140,000
At present, the global COVID-19 epidemic is still in an escalating situation. A total of 720,000 cases of COVID-19 were confirmed globally. The cumulative number of confirmed COVID 19 cases in the United States exceeded 140,000, still the most in the world.
According to the real-time statistics released by Johns Hopkins University, as of 07:40 on March 30, Beijing time, the number of confirmed covid-19 cases worldwide exceeded 720,000, or 720,117.
According to the world health organization, there have been 202 cases of COVID 19 in countries and regions.
According to real-time data from Johns Hopkins University, as of 0758 GMT on March 30, more than 140,000 covid-19 cases were confirmed in the United States, reaching 140,886.
Epidemic in other overseas, the Italian COVID – 19 accumulative total of 97689 cases of the patients, accumulative total 80110 cases confirmed in Spain, Germany has confirmed 62095 cases, confirmed 40174 cases of France, and Iran has confirmed 38309 cases, the diagnosis of 19522 cases, Switzerland has confirmed 14829 cases, the Netherlands confirmed 10866 cases, Belgium has confirmed 10836 cases, South Korea confirmed 9583 cases.
US President Donald trump announced at a press conference in the White House rose garden on March 29 that he would extend the 15-day “social distance advice” issued two weeks ago to April 30.
Mr Trump said the volume of testing was one of the reasons for the highest number of confirmed cases in the us. Rapid testing could help contain the outbreak. The us will reach the COVID 19 mortality turning point in two weeks and the overall situation is expected to improve in early June. Mr Trump said the outbreak could peak on Easter.
US President Donald Trump declared a “major disaster” Thursday in Washington, dc, Oregon, Georgia, and Connecticut. So far, 21 states and two overseas territories have entered a state of “major disaster.” Twenty-one states include New York, Washington, California, New Jersey, Massachusetts, Florida, Michigan, Illinois, Texas, Missouri, Maryland, Kentucky, and Colorado. Two overseas territories include Guam and Puerto Rico.
Anthony fauci, director of the national institutes of allergy and infectious diseases at the national institutes of health, said the new outbreak could eventually kill as many as 200,000 people in the United States, Bloomberg reported, adding that the estimate could change at any time.
An analysis by the University of Washington school of medicine predicts a nationwide outbreak peak in April. Covid-19 may have killed 81,000 people in the United States. The analysis by the University of Washington school of medicine used data from the us government and hospitals. The analysis predicts that the peak will come in the second week of April in the United States. In some states, the peak may come later.
Italian President Sebastian mattarella said March 27 that Europe must do more to deal with the threat of COVID 19. He told EU leaders they must act before it is too late.
Maria Teresa, cousin of king Felipe vi, known as the “red princess”, has died in Paris at the age of 86 after contracting COVID 19, according to Spanish media.
The number of people infected with novel coronavirus doubles every three to four days, French prime minister Philippe said at a government news conference on March 28. The battle against the disease in France has just begun, and the first 15 days of April will be even more difficult.
The outbreak is nearing its peak in Spain and has already reached a peak in some areas, Spain’s health warning and emergency coordination center said in a press release on Thursday.
All people entering the country will be quarantined for two weeks from 0:00 on April 1, regardless of nationality, prime minister of the Republic of Korea (rok) tin see-Kyun said Monday.
A new study of novel coronavirus shows that the virus that causes a global pandemic is naturally occurring. According to an analysis of the evidence published in the scientific journal nature medicine, the new virus was “not constructed in a laboratory or manipulated by humans with a purpose”.
The global economy is currently in recession as a result of COVID 19, international monetary fund (IMF) President georgieva said on Friday. But she was pleased that world leaders had finally realized that only a concerted effort could contain the spread of novel coronavirus.
“We have said that the world is now in a recession, and the duration and depth of the recession depends on two things: containing the virus and an effective and coordinated response to the crisis,” Georgieva told CNBC. She added: “I’m very encouraged by what I see now. “I see it becoming more clear to global leaders that we cannot get rid of it unless we defeat it everywhere.”
The impact of covid-19 on global foreign direct investment (FDI) and the global industrial chain may be more severe than the 2008 financial crisis, according to a report released on March 26 by the United Nations conference on trade and development.
The world trade organization (WTO) has predicted that the economic recession and unemployment will be worse than 12 years ago during the global financial crisis. Azevedo said covid-19 is a public health crisis, but the outbreak will inevitably have a huge impact on the economy, trade, jobs and more. The latest projections suggest that the economic impact and job losses from covid-19 will be worse than the financial crisis of a decade ago.
The Washington-based institute of international finance released a report on March 23 predicting the global economy will contract by 1.5% this year. It is the third time this month that the IMF has cut its forecast for global growth, underscoring the deteriorating state of the global economy.
Global markets are again volatile as oil prices plunge and gold prices fall
U.S. stock futures fell Monday, with s&p 500 futures down 2.5 percent. U.S. crude and brent both jumped short and open.
U.S. WTI crude briefly dipped below the key $20 / BBL level to as low as $19.96 / BBL in early trading.
Brent crude fell as much as 7.6 percent to its lowest level since November 2002. The price fell 5.4% on Friday, its fifth straight week of declines.
Analysts said a further escalation of COVID 19 would severely damage the global economy, which would be detrimental to oil demand.
The move by the rotating President of the organization of the petroleum exporting countries to hold an emergency meeting to assess market conditions for the collapse in oil prices was opposed by most members, with Saudi Arabia one of the biggest opponents.
Eamonn Sheridan, an analyst at Forexlive, noted that WTI crude had fallen to a 17-year low and the bearish news on oil prices had been going on for some time, not just because covid-19 had affected oil demand, but also because Saudi Arabia continued to increase production and the latest signs of an improvement in the oil supply side were still not there.
Oil prices were flat last week in the face of differences between Saudi Arabia and Russia over the economic impact of the outbreak, combined with market bets that a downturn in the economy would hurt demand.
On the outlook for oil this week, of the five analysts surveyed in the weekly FX168 oil survey, one is bullish, three are bearish and one is flat.
Atomic asset management (Hong Kong) co., LTD., founder and fund manager, said on Monday that oil prices continue to remain depressed, this week outbreak of the global demand for oil will be in the future for a long time to form negative impact and cartel also temporarily did not make it is clear that the next step of production, but Russia said still can absorb and made it clear that the current price are reluctant to join the production team.
Monday said: “from the technical point of view, 4/9 short-term average is still under significant pressure, the future below 20 probability shot up, recommended to sell short!”
In gold, spot gold jumped to as high as $1,633.70 an ounce before briefly falling below $1,620.
Spot gold rose more than 8% last week, its biggest weekly gain since 2008. Spot gold rose as high as $1, 643.90 an ounce on Thursday.
Leading financial website Economies.com says its bullish view on gold will remain valid in the short term as long as gold prices stay above $1,599.10 an ounce.
Once gold breaches $1,683.60 an ounce, the next major target is $1,689.30, Economies.com adds.
Most analysts expect gold to move higher this week and note that any declines are likely to be bought.
According to Kitco’s weekly gold survey released Friday, 71% of Wall Street and main street expect gold to continue rising this week.