Open for business? Well, not quite. New virus outbreaks in China are raising concerns about opening the door to potential problems here in the US.
Where it all began. The COVID virus originated in China, and they were the first country to begin lifting restrictions and reopen the economy. Now, Chinese officials are doubling back, locking down an area surrounding one major city after a new outbreak formed.
- Again? Residents in parts of China’s Jilin province are under orders to stay home, after 40 new cases broke out.
- Changing Tides. State media in China reported one health expert saw signs that the gene sequence of the virus changed and is different from the Wuhan virus.
- Two Steps Back. Reopening could stop on a dime if there’s another outbreak here in the US. Ford (F +2.55%) had to close its Chicago plant after two employees came down with the virus.
How does it affect my Wallet?
All 50 US states are beginning to reopen, but some experts have warned that reopening too quickly could result in another outbreak.
- If large areas are forced into more lockdowns, it could devastate the economy and send markets crashing, again…
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