Stocks are slumping sharply in afternoon trading on Wall Street Monday and deepening last week’s losses, as a troubling climb in coronavirus counts threatens the global economy.
The S&P 500 was 2.3% lower and on track for its worst day in more than a month. The Dow Jones Industrial Average was down 826 points, or 2.9%, at 27,508, as of 12:42 p.m. Eastern time, and the Nasdaq composite was down 2%.
Stocks also weakened across much of Europe and Asia. In another sign of caution, Treasury yields were pulling back after touching their highest level since June last week.
Coronavirus counts are spiking in much of the United States and Europe, raising concerns about more damage to the still-weakened economy. The U.S. came very close to setting back-to-back record daily infection rates on Friday and Saturday. In Europe, Spain’s government declared a national state of emergency on Sunday that includes an overnight curfew, while Italy ordered restaurants and bars to close each day by 6 p.m. and shut down gyms, pools and movie theatres.
Hopes are fading, meanwhile, that Washington will be able to deliver more support for the economy anytime soon. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke several times last week on a potential deal to send cash to most Americans, restart supplemental benefits for laid-off workers and provide aid to schools, among other things.
But deep partisan difference remains on Capitol Hill, and time is running out for anything to happen before Election Day on Nov. 3. Any compromise reached between House Democrats and the White House would also likely face stiff resistance from Republicans in control of the Senate.
Worries about the diminishing prospect for more stimulus in the short term helped drive the S&P 500 to a 0.5% drop last week, its first weekly loss in the last four.
“While we are seeing nations attempt to stifle the spread of the virus through more localised and tentative restrictions, it seems highly likely that we will eventually see a swathe of nationwide lockdowns if the trajectory cannot be reversed,” said Joshua Mahony, senior market analyst at IG in London.
“Traders remain torn as they weigh up the potential impending benefits of a U.S. stimulus package and potential vaccine,” he added.
The U.S. economy has recovered a bit since the stay-at-home restrictions that swept the country early this year eased, and economists expect a report on Thursday to show it grew at an annual rate of 30.2% during the summer quarter after shrinking 31.4% during the second quarter.
But momentum has slowed recently after a prior round of supplemental unemployment benefits and other stimulus that Congress approved earlier this year expired.
In European stock markets, Germany’s DAX lost 3.7%, and France’s CAC 40 fell 1.9%. The FTSE 100 in London slipped 1.2%.
In Asia, Japan’s Nikkei 225 dipped 0.1%, South Korea’s Kospi fell 0.7% and stocks in Shanghai lost 0.8%.
COVID-19 cases confirmed in several Regina, Saskatoon hockey teams – CTV News
The Saskatchewan government has declared new outbreaks in several hockey teams, including three in Regina.
Outbreaks in other Saskatchewan hockey teams including the Assiniboia Rebels, the Fort Qu’Appelle Fort Knox and the Regina Cherries Sr. Men’s teams.
Saskatoon Minor Hockey reported outbreaks in “multiple teams” this week.
According to the province, an outbreak is declared when two people or more test positive for COVID-19 in a non-household setting.
Below is a list of locations where outbreaks have been declared, along with the date of the declaration:
- Turvey Centre (Louis Riel play cast members), Nov. 26
- Doogz Diggers Hockey Team, Nov. 26
- Bro-Ci-Tops Hockey Team, Nov. 26
- Gailenes Child Care, Nov. 26
- Cherries Sr. Men Hockey Team, Nov. 25
- Paul Dojak Centre, Nov. 25
- Regina Provincial Correctional Centre (Isolation Unit), Nov. 25
- Pioneer Village, Nov. 25,
- First Years Learning Centre, Nov. 24
- Tim Hortons, South Albert, Nov. 22
- Parkside Extendicare, Nov. 20
- Santa Maria Long-term Care Home, Nov. 20
- Highland Curling Club, Nov. 20
- Avena Foods, Nov. 20
- Jesus the Anointed One Church, Nov. 18
- Ecole Wascana Plains School, Nov. 18
- Clare Parker Homes, Nov. 17
- Evraz Steel Mill, Nov. 17
- Culture Grooming Lounge, Nov. 17
- Revera Green Falls Landing, Nov. 15
- Saskatoon Minor Hockey (multiple teams), Nov. 25
- Saskatoon Food Bank, Nov. 24
- Oliver Lodge, Nov. 24
- Lutheran Sunset Home, Nov. 20
- Royal University Hospital, Unit 5300 (Ortho/Trauma), Nov. 20
- Saskatoon Correctional Centre, Nov.17
- Luther Special Care Home, Nov. 17
- Martensville High School, Martensville, Nov. 11
- The Mosaic Company – Esterhazy K3, Esterhazy, Nov. 25
- Northside Sales and Service, Ituna, Nov. 13
- Rebels Hockey Team, Assiniboia, Nov. 23
- Senior Balcarres Broncos Hockey, Balcarres, Nov. 22
- Fort Knox Hockey Team, Fort Qu’Appelle, Nov. 22
- Little Castle Child Care Centre, Indian Head, Nov. 17
- Hayes Haven Person Care Home, Indian Head, Nov. 17
- Gunnar Mine, Uranium City, Nov. 13
- St. Joseph’s Health Centre, Ile-a-la-Crosse, Nov. 25
- Condo building, Battleford, Nov. 21
- U19 Bruins hockey, Prince Albert, Nov. 13
- Global Sports Academy, Prince Albert, Nov. 13
- Safeway, Prince Albert, Nov. 13
- River Heights Lodge, North Battleford, Nov. 12
- Purolator, Prince Albert, Nov. 12
- Caleb Village, North Battleford, Nov. 11
COVID-19 clusters identified at Windsor Regional, Hotel-Dieu Grace hospitals – Windsor Star
Article content continued
Visits to the floor are not allowed until further notice.
“Both hospitals continue to work with the Windsor-Essex County Health Unit to investigate the circumstances of the cluster and we will provide an update when more details become available,” the Windsor Regional release says.
HDGH says the patients in its affected unit are all being tested and staff who worked in the unit are being offered testing. In addition, the hospital is closing the unit to new admissions, enhancing cleaning, reinforcing the importance of PPE use and consistent hand-washing, and suspending a visitation program in the unit that allows designated family members to help with care.
Dr. Wajid Ahmed, Medical Officer of Health for the Windsor-Essex County Health Unit, said the health unit is working closely with hospital officials to investigate the clusters. Due to privacy concerns, he said, the health unit is “unable to disclose publicly any further details about the cases or the number of close contacts at the hospitals.”
(2) Covid-19 hit 7 members of one family. Now they're speaking out so others don't go through the same pain. – CNN
Two hospital systems gave Thanksgiving updates on their coronavirus caseloads, both saying that cases are rising in their hospitals but expressing confidence in their ability to deal with the increasing case load.
One hospital system said, the situation now is “nothing approaching what we experienced in March,” and another system echoing that saying they are “well within our ability to handle.”
Mt. Sinai healthcare system’s Chief Medical Officer, Dr. Vicki LoPachin, said in a note Wednesday, that coronavirus cases continue to rise across the Mt. Sinai health system but that the current number of cases “is still within our projections, and well within our ability to handle.”
“Our COVID-19 inpatient census remains at less than 10 percent of what we saw at the peak in the spring,” LoPachin said. “And we do not believe we will ever see anything close to those prior numbers.”
Dr. Craig Smith, chair of the department of surgery at Columbia University Irving Medical Center, which is also affiliated with NewYork-Presbyterian’s hospital system, said in a message Thursday that the new Covid-19 case curve is “unequivocally positive” but nothing approaching “what we experienced in March.”
Smith’s candid updates during the heat of the coronavirus crisis in New York gained a large following in the spring.
Smith said NYP and CU have a “meticulous plan” for staffing changes if the surge in cases increases quickly, and that at this time, the systems are not close to a level where non-urgent surgeries would need to be canceled in order to deal with an influx of cases.
Smith also said the institutions are in the process of planning “thorough plans” for vaccine distribution.
On Wednesday morning, the system had 157 Covid-19-positive patients admitted to their hospitals, 25 of whom were in critical care.
LoPachin warned Mt. Sinai healthcare workers to “relax, recharge and prepare for the work ahead” as coronavirus case numbers are expected to increase, as some ignore warnings against gathering for the Thanksgiving holiday.
“We know that many people will ignore the warnings and gather unsafely with their families tomorrow, and that the patients with new COVID-19 infections resulting from those gatherings will arrive in our hospitals in the next few weeks,” LoPachin said. “Your family needs you, your colleagues need you, and your patients need you, now more than ever.”
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Ontario reports 1,822 new COVID-19 cases, 29 more deaths – CBC.ca
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