Delta Variant Cases Enhance Fears Throughout Global Economy As Cases Jump
The Dow Jones Industrial Average dropped 725 points Monday, July 19, 2021, after being down more than 900 points at one time because of reports of the coronavirus sweeping through the United States that the number of delta variant cases increased to 30,000 per day and raising. Hospitals in areas with large numbers of unvaccinated people are seeing the impact firsthand. Rochelle Walensky (Director of Centers for Disease Control and Prevention) and other health officials are naming the new wave of the latest stage of the coronavirus as a "pandemic of the unvaccinated" while emphasizing that those who have had their shots are relatively safe.
“97 percent of people entering the hospital with COVID-19 are unvaccinated.” - Rochelle Walensky
Covid Act Now shared that states with lower vaccination rates are seeing the worst outbreaks. Arkansas, Missouri, Florida, and Louisiana are the four states with the highest per capita new cases per day. The percentage of the population with at least one shot in those states is 44 percent, 47 percent, 56 percent, and 40 percent. However, areas like Vermont and Massachusetts, where the vaccination rate is over 70 percent, are doing much better. The Biden administration contributes social media outlets for the low participation numbers. 30,000 cases per day on average is more than double the 13,000 average at the end of June 2021. However, reports of death are increasing to 240 per day.
Former President Donald Trump spoke on the matter during an interview, “President Biden is way behind schedule, people are refusing to take the vaccine because they don't trust his Administration, they don't trust the election results, and they certainly don't trust the fake news, which is refusing to tell the truth.”
The pace of vaccinations has fallen to around 500,000 per day, down from over 3 million based on research from Our World in Data. Canada’s vaccination rate surpassed America Monday, July 19, 2021; while a spike in vaccinations in France occurred after President Emmanuel Macron announced this month that proof of vaccination, or a negative test, would be required for everyday activities such as going to restaurants.
Would this approach work in America? The Biden Administration reports that the requirement of a “vaccination pass” is not going to happen under his watch. However, markets around the world are unsettled as investor fears about how the delta variant might slow both the health and economic recovery of their great nations.
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