Coronavirus Live Updates: Markets Suffer Sharpest Drop in Months Amid Grim Forecasts and Rise in Cases

June 11, 2020

Arizona, one of the U.S. states that began reopening earliest, is emerging as a hot spot. Known cases in Africa doubled in the last 18 days.

RIGHT NOW – The S&P 500 plunged nearly 6 percent, its sharpest decline in three months, as grim forecasts and new virus cases pierced Wall Street’s bubble.

Here’s what you need to know:

• Stocks fall, 1.5 million more U.S. workers file for unemployment, and Congress is divided on extending aid.
• The U.S. economy needs more virus relief, Mnuchin says.
• A jump in cases in Arizona is fueling concerns of an increase in community spread.
• The number of cases in Africa has doubled in the last 18 days, rising to more than 200,000, the W.H.O. says.
• Maryland’s governor planned to ease rules on indoor gatherings. One of his health advisers publicly pushed back.
• Biden unveils a plan to reopen the U.S. economy.
• The U.N. predicts that global trade will plunge 27 percent compared with this quarter last year.

READ THE REST HERE