US coronavirus cases rose to over 3 million total on Tuesday Texas new cases up by more than 10,000 in just one day. The highest number of infections Los Angeles County has reported in a single day. Global markets rattled, down day for Wall Street. In a Reuters tally, the US coronavirus cases rose to over 3 million total on Tuesday, the largest outbreak in the world. There is little coincidence that we are starting to see a shift in positioning across financial markets and related asset classes. On Wall Street, investors are sensing a highly treacherous path ahead following a sensational comeback in US stocks this year to date. Japan’s benchmark Nikkei average opened down 0.59% at 22,481.61 on Wednesday, while the broader Topix.TOPX shed 0.41 percent at 1,565.26. Australia’s ASX 200 Index was down 0.234% at 5,999.40 points in early trade. Texas new cases up by more than 10,000 in just one day A standout headline pertaining to the US cases came from Texas with the state’s new cases up by more than 10,000 in just one day. This was a new record increase for the state which also had 60 deaths recorded, another new record high for a day. The death toll is now above 2,700 with the hospitalisations hitting a new record high at 9,286 (9th day in a row of record hospitalisations), which is up 588 from the previous day. Also, coronavirus conditions in Los Angeles County continued to deteriorate on Tuesday. Officials released numbers that marked another new record for daily new cases and the infection rate continued to surge. 46 more coronavirus-related deaths and 4,015 additional cases Tuesday, making for the highest number of infections the county has reported in a single day. Is the optimism overdone? The news of the spread is rattling markets, Stocks down, gold up. Gold Price Analysis: XAU/USD bulls eye $1,800 threshold as virus-led risk-off fade equities’ rally We have seen a rally that has defied all of the odds in the face of the coronavirus and asset price bubbles left right and centre. The question everyone is asking now is whether the euphoria-driven rally could be coming to a head? The pandemic is worsening and lockdown could be back on the agenda. What the markets could now be fainting, unlike the GFC’s liquidity crisis, is an insolvency crisis as business stop spending and people start hoarding. More on that here: Wall Street Close: Investors start to doubt the economic recovery playbook Vaccine updates However, observers will be well versed by now to expect volatility and know that it may only take a positive vaccine headline to encourage more buying on Wall Street from investors on the lookout for a discount. Japan is in talks with the UK, France & other potential partners to jointly buy coronavirus vaccine – Nikkei Trump worried COVID-19 cases could jeopardize nascent recovery Also, least we forget, the elections are at stake for the US President Donald Trump. The news comes amid headlines which are reporting on how the White House has been promoted by the COVID-19 cases to renew a push to get the Senate GOP to compromise with the Democrats for the purpose of reaching a deal on a new stimulus in July. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY eyes 108.00 as Tuesday’s recovery moves gains momentum FX Street 3 years US coronavirus cases rose to over 3 million total on Tuesday Texas new cases up by more than 10,000 in just one day. The highest number of infections Los Angeles County has reported in a single day. Global markets rattled, down day for Wall Street. In a Reuters tally, the US coronavirus cases rose to over 3 million total on Tuesday, the largest outbreak in the world. There is little coincidence that we are starting to see a shift in positioning across financial markets and related asset classes. On Wall Street, investors are sensing a highly treacherous path ahead following a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.