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The coronavirus (COVID-19) fears are back to the game and weighed down the markets on Tuesday. Among the heavily hit nations, India leads the tally while Japan is up for recalling the virus-led emergencies in Tokyo and surrounding prefectures.

India contributed one in every three new covid infections, on average, per April 20 COVID-19 data from Reuters, with 15,321,089 total cases and 180,530 deaths toll.

Japanese media, namely Sankei, mentioned that the Asian major’s government is up for announcing the third virus-led emergency status for Tokyo, Osaka and Hyogo prefectures on Wednesday. However, official details are yet awaited.

It’s worth mentioning that Toronto closes some of the workplaces due to the virus spread while the global infections mount 12% on the weekly basis.

FX implications

Virus resurgence dashes economic recovery hopes, which in turn weighs on the market off-late. That said, Wall Street benchmarks dropped for the second day on Tuesday with the pandemic woes acting as the main catalyst.