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Early Wednesday morning in Asia, Chinese media, Xinhua came out with the forecasts suggesting a further increase in the coronavirus (COVID-19) related deaths from the US to 360,000 by the end of 2020.

The piece relied on the model prepared by the Institute for Health Metrics and Evaluation (IHME) at the University of Washington, to mention that the COVID-19 deaths in the US would surpass 2,900 a day by January 1, and the total would reach 363,269.

The IHME model projected over 135,900 hospital beds are needed by Jan. 1 to take care of the infected, further mentions the piece.

The report also quotes figures from the US Centers for Disease Control and Prevention (CDC) and Johns Hopkins University tracker to say, “About 178,000 people in the country died of the flu from 2015 until 2020, the CDC statistics showed. As of Tuesday, more than 210,000 Americans have died of the coronavirus.”

Market implications

The news should ideally weigh on the market’s risk sentiment, especially after the recent blow to the US stimulus talks. However, S&P 500 Futures seem to witness a risk reset while flashing a 0.30% intraday gains to 3,344 by the time of the press.