The gloom weighed on global financial markets on Monday as surging
infections clouded the economic outlook.
U.S. stocks had their worst day in four weeks over the double whammy
of record coronavirus cases and political deadlock in negotiations
to provide more economic aid.
Word that a vaccine being developed by the University of Oxford and
AstraZeneca Plc produced immune responses in both elderly and young
people offered some positive news as autumn turns to winter in
northern countries and more people socialise indoors.
But British Health Secretary Matt Hancock cautioned that the vaccine
would not be widely available until next year and said, "We're not
there yet".
Any vaccine faces both scientific and public relations hurdles.
Surveys have shown only about half of Americans would get a COVID-19
vaccination due to concerns about safety, effectiveness and the
approval process.
In the United States, the number of hospitalized COVID-19 patients
is at a two-month high, straining health care systems in some
states.
U.S. President Donald Trump, facing a tough re-election battle on
Nov. 3, lashed out again at reports that the coronavirus is surging.
He repeated his unfounded claim that COVID-19 cases are rising
because there is more testing, an assertion not supported by data
and one that has been rejected by health experts.
"Cases up because we TEST, TEST, TEST. A Fake News Media Conspiracy.
Many young people who heal very fast. 99.9%. Corrupt Media
conspiracy at all time high," Trump said in a Twitter post.
The number of new COVID-19 cases in the United States last week rose
24% while the number of tests performed rose 5.5%, according to a
Reuters analysis. (Graphic: https://tmsnrt.rs/2WTOZDR)
'LOCKDOWN LIGHT'
In Europe the picture was unrelentingly grim as a string of
countries reported record increases, led by France, which posted
more than 50,000 daily cases for the first time on Sunday, while the
continent passed the threshold of 250,000 deaths. (Graphic: https://tmsnrt.rs/34pvUyi)
France may even be experiencing 100,000 new infections a day,
professor Jean-François Delfraissy, who heads a council that advises
the government, told RTL radio.
[to top of second column] |
Governments have been desperate to avoid the lockdowns which curbed the disease
earlier in the year at the cost of shutting down their entire economies. But the
steady rise in new cases has forced many in Europe to tighten curbs.
"We are facing very, very difficult months ahead," German Chancellor Angela
Merkel told a meeting of leaders from her Christian Democrat party, according to
daily Bild.
She plans "lockdown light" that will focus on closing bars, restaurants and
public events, the newspaper said.
The Spanish government faced a backlash over its plans to put one of Europe's
worst COVID-19 hot spots under a six-month state of emergency. Opposition
parties said six months was too long, epidemiologists said this may be too
little too late and some citizens balked at nightly curfews.
Russia's daily tally of new COVID-19 infections surged to a record high of
17,347 on Monday as the Kremlin warned the pandemic was beginning to take a
greater toll outside Moscow.
Russia in August became the first country to grant regulatory approval for a
vaccine against COVID-19 after less than two months of human testing, raising
eyebrows among sceptical scientists in the West. Regulators approved a second
vaccine earlier this month.
With 1.5 million infections, the country of around 145 million people has
recorded the world's fourth largest COVID-19 case load - after the United
States, India and Brazil.
Italy, the country worst hit in the early stages of the crisis in March, imposed
new restrictions, ordering restaurants and bars to close from 6 p.m., shutting
cinemas and gyms and imposing local curfews in several regions.
More than 43 million people are reported to have been infected by the
coronavirus globally and 1.15 million have died, according to a Reuters tally.
The United States has the highest number of deaths and infections.
(Reporting by Reuters bureaux; Writing by Nick Macfie and Lisa Shumaker; Editing
by Angus MacSwan and Cynthia Osterman)
[© 2020 Thomson Reuters. All rights
reserved.] Copyright 2020 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |