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UK Scares Markets With Novel Coronavirus – Markets News – 21 December 2020

UK Scares Markets With Novel Coronavirus – Markets News – 21 December 2020


Today, news from the UK dominates the headlines with the discovery of a new strain of coronavirus. The south of England, especially the London area, has had problems containing the spread of the Covid-19 coronavirus over the past few months. Researchers have determined that a mutated version of the virus is responsible for most of the cases confirmed since September in the United Kingdom.

According to preliminary information, the new strain is susceptible to vaccines developed this year. However, it is suspected that the mutation is up to 70% more infectious than other versions of the coronavirus. This means that a large number of people can still get it and infect others before everyone can get vaccinated.

The reaction from the rest of the world is rapid. The European Union, USA, Canada, Russia and other countries have imposed travel bans to the UK. Some countries do not allow passengers arriving from the UK, others quarantine them upon arrival.

Doctors reassure the public that, despite the high level of infection with a new type of coronavirus, it is no more deadly than other strains. In light of these developments, the United Kingdom will expand and tighten its isolation measures. The UK hit its all-time high of daily infections yesterday, confirming around 36,000 new cases in a single day.

In France, Spain and Italy, the infection rate remains the same. Germany is still struggling to bring its daily incidence rate to 20,000. New cases are on the rise again in the Netherlands, with a record 13,032 new cases of Covid-19 reported yesterday.

In the United States, the number of infections is nearly 200,000 per day. Infection rates are still higher than anywhere else in the world, but at least they are declining. Two vaccines have already been approved in the US, Pfizer and Moderna, and mass vaccinations are due to begin today.

Today, in the beginning for the increased demand for safe assets, metals, as well as the US dollar. Equity markets, by contrast, are trading in the red. Even the news that Congress has finally agreed to pass a $ 900 billion stimulus bill failed to bolster markets today. Coronavirus pessimism is still too strong.

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