A whiff of the pandemic is to be feared

Un relent de la pandémie est craint

Photo: Mark Lennihan Associated Press
The theme on Thursday was concern about a second wave of the pandemic in the United States.

A whiff of the pandemic was feared in the United States. Wall Street has echoed, the major indices in cashing on Thursday, their biggest daily drop in three months. In New York, the Dow Jones was relieved of 1861,8 points, or 6.9 %, to end the session at 25 128,17. For its part, the expanded index S&P 500, more representative, closed at 3002,1 points, a decline of 5.9 %, and the Nasdaq lost 5.3 per cent. In Toronto, the composite index S&P/TSX has dropped 650,41 points, or 4.1 %, to close at 15 050,92 points.

The theme on Thursday was concern about a second wave of the pandemic in the United States. In a process of déconfinement whose magnitude and speed vary from one State to the other, the rise in inpatient cases has acted like a cold shower. Wall Street held Thursday that the Texas and North Carolina have more than sick of the COVID-19 hospitalized only a month ago. Arizona, Florida and California are also showing worrying signs. It remained difficult, however, to decide between between an actual increase in new cases of contagion and the effect of the application of screening tests increased.

 

The dashboard on the evolution of the coronavirus in Quebec, in Canada and in the world

Nevertheless, according to the daily monitoring of the COVID-19 provided by the National Bank, the United States dominates among the selected countries with regard to the number of cases per million inhabitants. In addition, with more than two million people are infected, they are among the countries that, like India, South Africa and Russia, display the active cases continuing their progression, even if the new cases were still on a slope downward, and if the trend of cases cured was slightly bullish.

This decline in indices is also analyzed in the context of a correction after a strong rally since the march lows. Despite its decline of 5.9 % on Thursday, the S&P 500 remains up 34 % since the low of march 23, last. In particular, the forecasts of the federal Reserve revealed Wednesday, citing a slow recovery in economic activity and a long recovery job losses after a shock pandemic more severe.

With Agence France-Presse

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