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Jim Cramer: Markets Want to Believe Rising Coronavirus Case Counts Are 'Isolated'

Jim Cramer discusses the coronavirus and its impact on the markets as cases rise in Texas and Arizona.

The U.S. has 2.1 million coronavirus cases, with over 116,000 deaths. Worldwide, there are over 8.1 million cases with over 444,000 deaths.

This week, Florida, Texas and Arizona have set daily records for new cases.

On Tuesday, Florida recorded nearly, 2,800 new cases. However, Ron DeSantis, the governor of Florida, said that Florida will not be shutting down again despite hitting new daily records three days in a week.

Nine Texas mayors have sent a letter to Governor Greg Abbott asking to require masks. The mayors included are from Austin, Dallas, Houston and San Antonio, among others.

On Tuesday, Texas reported a total of 2,518 patients hospitalized, which breaks the previous record.

The state also announced a record-breaking number of new cases at 2,600.

And Arizona, on Tuesday, reported nearly 2,400 new cases, which is a record high.

So, why isn't the market paying attention to this news?

Jim Cramer said it all comes down to markets believing that rising cases are "isolated" and it can be contained. 

In the video above, Cramer warns why the situation in Texas could very well prove that belief unfounded. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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