U.S. coronavirus cases top 100,000

Coronavirus cases in the United States topped 100,000 on Friday, the highest number in the world.

While Reuters put its tally at 100,040, worldometers.info estimated the U.S. cases at 100,514.

Italy is second with 86,498 and China is third with 81,340.

According to worldometers.info, U.S. death toll also jumped to 1,546.

On Friday 251 deaths were reported.

The record coronavirus figures being logged in the hospitals across the U.S. made Wall Street stocks tumble on Friday.

This ended a massive three-day surge as doubts emerged about the fate of the U.S. economy.

U.S. stocks tumbled, even after the House of Representatives approved a $2.2 trillion aid package – the largest in American history.

The package is meant to help people and companies cope with an economic downturn caused by the coronavirus outbreak.

It is also meant to provide hospitals with urgently needed medical supplies.

“We have still not fully understood the degree of the economic impact,” warned Massud Ghaussy, senior analyst at Nasdaq IR Intelligence in New York.

Many investors see a strong risk the market could fall deeply again as coronavirus infections increase and more people die.

“Next week will depend on what happens over the weekend,” said Lindsey Bell, chief investment strategist at Ally Invest.

“If there is a major acceleration over the weekend of coronavirus cases in New York and other states and the hospital system continues to get jammed up, then I think it will be a rough week for the market.”
*With Reuters report


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