Countries “on dangerous track” as daily COVID-19 cases hit record highs

The COVID-19 pandemic appears likely to continue to weigh on markets this week.

On Friday, World Health Organization Director-General Tedros Adhanom Ghebreyesus said during a press briefing that the world is “at a critical juncture in this pandemic” and that “some countries are on a dangerous track”.

Indeed, France reported a record 52,010 new confirmed coronavirus infections over the past 24 hours on Sunday, following a record 45,422 on Saturday.

The Spanish government on Sunday declared a national state of emergency that includes an overnight curfew. “The situation we are living in is extreme,” said Prime Minister Pedro Sánchez.

The US reported 83,757 new COVID-19 cases on Friday, a record high. This was followed by another 83,718 cases on Saturday.

“I think the winter is going to be very difficult,” said Dr Scott Gottlieb, the former US Food and Drug Administration commissioner.