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Wall Street logs biggest weekly loss since March as Covid-19 cases spiral

“COVID-19 cases and hospitalizations are surging across the United States and Europe. The stock market appears to be taking note,” analysts at Zacks Investment Management, said in a note Saturday.

The daily new cases have regularly surpassed 80,000 recently in the United States. The country has reported more than 9.1 million in total infections with the death toll surpassing 230,000 as of Saturday afternoon, showed a tally by Johns Hopkins University.

“The threat of another economic lockdown is low, but cities with spiralling hospitalization rates may need to pursue more targeted restrictions and closures. The stock market is likely to respond adversely to any planned economic restrictions,” Zacks analysts added.

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Super typhoon Goni slams into Philippines, 1 million evacuated

Manila’s main airport was ordered shut down for 24 hours from Sunday to Monday and airlines canceled dozens of international and domestic flights. The military and national police, along with the coast guard and firefighters, have been put on full alert.

About 1,000 Covid-19 patients were moved to hospitals and hotels from tent quarantine and treatment centers in the capital and the northern province of Bulacan, Jalad said. More emergency shelters would be opened than usual to avoid congestion that can rapidly spark infections.

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Johnson locks down England as UK COVID-19 cases pass 1 million

Johnson’s imposition of stricter curbs came after scientists warned the outbreak was going in the wrong direction and that action was needed to halt the spread of the virus if families were to have any hope of gathering at Christmas.
So far the United Kingdom has reported 46,555 COVID-19 deaths – defined as those dying within 28 days of a positive test. A broader death measure of those with COVID-19 on their death certificates gives the toll as 58,925.

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Ransomware surge imperils hospitals as pandemic intensifies

Hackers are aware that “health care is the most likely to pay the ransom because their services are critical,” dos Santos said.

“Stopping services means that people will literally be dying.”

For hospitals unable or willing to pay, “it would mean going back to pen and paper, which can cause huge slowdowns,” he added.

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Pandemic takes a worrying turn across Europe sending hospitals reeling

Hospitalizations skyrocketed in more than a dozen countries in Europe, with admissions soaring beyond the peak reached last spring in a swathe from Austria to Portugal. In the U.S., where new daily cases topped a record 92,000 Friday, hospitalization rates have climbed 12% over the past month, with more than one in six inpatients in South Dakota having the coronavirus, government data show.
France, Germany and Belgium will clamp down on movement for at least a month, approaching the stringent lockdowns in the spring as Europe seeks to regain control of the crisis. France reported 49,215 new cases Friday, more than six times the level a month ago. The government plans to spend an additional 2.5 billion euros ($2.9 billion) preparing hospitals for the disease, which President Emmanuel Macron said may cause 9,000 patients to fall critically ill by mid-November.

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