The World Health Organization reported on Sunday that the global number of confirmed cases stood at 17,660,523, with the death tally at 680,894.
By region, the Americas had the most number of cases at 9,476,763, led by the US at 4,523,888 followed by Brazil at 2,662,485.
Dr Deborah Birx, the White House COVID-19 task force coordinator, said that the US is “in a new phase”, with the virus “extraordinarily widespread” in rural as well as urban areas.
The US death toll exceeds 154,000 and is projected to reach 173,000 by 22 August, according to a new composite forecast from the US Centers for Disease Control and Prevention.
Amid the continuing surge in COVID-19 cases worldwide, global funds in July recommended cutting equity holdings to the lowest in four years and suggested keeping bond allocations unchanged from June.
“Clearly we are now in the eye of the storm with respect to COVID-19 damage - the global economy is very weak and fatality rates are still rising, which makes it difficult,” said Peter Lowman, chief investment officer at Investment Quorum.
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