By Jesse Cohen
Investing.com - U.S. President Donald Trump declared earlier this week that the country must begin to reopen its economy immediately, even if it leads to more Americans falling sick and dying from the coronavirus pandemic.
Trump is seeking to move past the outbreak, which has put more than 30 million Americans out of work and hurt his case for a second term, encouraging states to abandon social distancing measures and allow businesses to reopen.
“Will some people be affected? Yes. Will some people be affected badly? Yes. But we have to get our country open and we have to get it open soon,” Trump said at an event with Native Americans in Phoenix on Tuesday.
The U.S. continues to sport the largest coronavirus outbreak in the world, with more than 1.2 million people infected and about 75,000 killed so far.
Global financial markets have been caught this month between grim economic figures and renewed concerns about worsening U.S.-China relations, and optimism over easing COVID-19 lockdowns in many countries.
The S&P 500 has climbed about 30% from its March lows on the back of unprecedented stimulus measures and signs of a plateau in new virus cases in many parts of the world.
However, many market experts have warned the rally could be tested amid a risk of another wave of virus infections.
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-- Reuters contributed to this report