Stocks were lower in intraday trading on Thursday and a rally in global stocks lost its steam as a resurgence of the coronavirus has Wall Street worried that new restrictions aimed at curbing the pandemic will lead to a halt in any economic recovery.
Hospitalizations from COVID-19 have jumped in the U.S., particularly in the Midwest. According to the COVID-19 tracking project, the U.S. reported 1.3 million cases. On Wednesday, there were 144,000 cases reported yesterday. There were over 1,400 deaths reported Wednesday.