COVID-19 - Worst is Yet to Come

European stock markets are taking a hit on Tedros Adhanom Ghebreyesus’, head of WHO, briefing in Geneva on Monday. According to him, the  “worst is yet to come” when it comes to coronavirus infections. Deaths from the virus have now surpassed 500,000 worldwide and over 10 million cases have been confirmed by WHO in a 6 months period.

The announcement has overshadowed the good news of the positive Chinese PMI, which has been showing steady growth for the fourth month in a row in June, raising hopes that the global economy is on a good recovery course, along with positive US housing data.

Oil has too shown weaker performance amid concerns that the second wave will hit demand for fuel.

A logical response - gold futures have risen 0.2%.

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