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- Stocks turned red on Monday as fears that a second wave of coronavirus and new set of lockdowns is going to hit China and the rest of the world rise.
- The Financial Times reported China suffered around 80 new coronavirus infections over the weekend, after reporting no new claim since the last 450 days.
- Markets were already volatile when fears surfaced that the US is facing a surge in infections.
- Oil was also down, with West Texas Intermediate and Brent falling around 2%.
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Global stocks tanked on Monday as investors assessed increases in COVID-19 cases and the odds of another lockdown in China and increasing infections in the US, as fears of a so-called second wave grow.
The Financial Times reported on the weekend that 80 new cases were recorded in Beijing over the weekend. This marked the end of a 50 day period where Beijing had reported no new case, raising the specter of a second wave of COVID-19 and lockdown hitting the Chinese capital.
See the rest of the story at Business Insider
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- The Small Business Administration says it's loosening payroll restrictions to allow partial loan forgiveness under PPP small business aid program
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