French President Emmanuel Macron said he will impose a new nationwide lockdown starting Friday.
“Virus is circulating in France at a speed that even the most pessimistic forecast didn’t foresee,” Macron said. “The measures we’ve taken have turned out to be insufficient to counter a wave that’s affecting all Europe.”
The announcement of the lockdown follows less than a week after France expanded a curfew to about two-thirds of the population. That has not noticeably slowed the virus. Average daily infections more than doubled from 17,000 to 36,000 in the last two weeks.
The initial coronavirus lockdown was lifted five months ago but the French economy is still struggling to recover. Across Europe, economies have recovered more slowly than in the U.S. and Asia.
Macron said people should not leave their homes except to buy essential goods, seek medical care, or exercise for an hour a day.
The lock will remain in place until December.
French schools will remain open but bars and restaurants will be closed and travel between regions banned. People will be encouraged to remain at home and work from home. Universities will move to online-only instruction. External borders will be closed to travelers from outside the Schengen Area.
U.S. futures continued their slump, hitting a three-week low as shares in Europe and crude oil tumbled after tighter covid restrictions in Germany and France sparked fear of even broader lockdowns. European stocks dropped to a 5 month low with all 20 sectors were in the red, while safe havens such as the dollar and Treasuries rose. Oil and gold slipped, while Bitcoin surged to the highest since January 2018. The VIX Index climbed to the highest level since June, rising as high as 37 overnight.
Spiraling pandemic, elevated unemployment levels and U.S. lawmakers failing to strike a deal on fresh fiscal stimulus before the Nov. 3 election sent the S&P 500 and tech-heavy Nasdaq to their lowest close in three weeks on Tuesday.
Associated Press
Chancellor Angela Merkel says German officials have agreed to a four-week shutdown of restaurants, bars, cinemas, theaters and other leisure facilities in a bid to curb a sharp rise in coronavirusinfections.
Merkel and the country's 16 state governors, who are responsible for imposing and easing restrictions, agreed on the partial lockdown in a videoconference Wednesday. It is set to take effect Monday and last until the end of November.
Merkel said, "We must act, and now, to avoid an acute national health emergency."
Merkel appealed to people not to make unnecessary journeys and said hotels won't be able to accommodate people on tourist trips.
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