U.S. stocks flipped between small gains and losses Monday as reports of new coronavirus infections worldwide surged.
Stocks have been trading choppy in recent weeks on growing fears of a second wave of infections after rising more than 40% from March lows on hopes the worst of the pandemic was over. Investors have grown optimistic about a recovery following a massive stimulus package from Congress and unprecedented moves from the Federal Reserve to help support the economy.
“Periods of elevated policy uncertainty have generally coincided with lower-than-average equity allocations during the past 30 years,” analysts at Goldman Sachs said in a note. Financial markets around the world paused Monday as the global virus tally approached 9 million. Great uncertainty remains over whether countries that have been relaxing pandemic-fighting restrictions on travel and business might end up re-imposing broader controls that would slow a recovery from the worst global downturn since the Great Depression in the 1930s.
The World Health Organization on Sunday reported the largest single-day increase in coronavirus cases by its count, at more than 183,000 new cases in the previous 24 hours. The U.N. health agency said Sunday that Brazil led the way with 54,771 cases and the US next at 36,617. India confirmed 15,400 new cases.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York City will enter phase 2 of reopening on Monday, officials sayThe coronavirus pandemic has brought countries to a standstill. In many places, as countries reopen, Covid-19 cases are on the rise. Follow here for the latest.
Read more »
What's on TV Monday: 'The Bachelor: Greatest Seasons' on ABCWhat's on TV Monday, June 22: 'The Bachelor: The Greatest Seasons — Ever' on ABC; movies on TV; TV talk shows
Read more »
What you need to know about coronavirus on Monday, June 22Here's everything you need to know about the coronavirus pandemic today: 📩 Sign up to get the facts from CNN delivered to your inbox daily:
Read more »
Oil futures slip as coronavirus cases rise globally on Monday but BofA lifts crude price outlookOil futures on Monday head lower amid rising cases of the COVID-19 pandemic, but the improved outlook for long-term global demand has sparked one major investment bank to raise price targets for the commodity for this year and the next two years.
Read more »
5 things to know before the stock market opens MondayDow futures rise Monday after the blue chip average was up as much as 371 points at one stage Friday before closing down more than 200 points.
Read more »