Global Markets: COVID-19 situation in Ontario is ‘dire’

Province hit with daily record of 4,736 new cases

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, April 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Faced with the third wave of the COVID-19 pandemic, the Canadian province of Ontario could see tougher lockdown restrictions announced on Friday. The provincial government said on Thursday there was a record 4,736 new cases. The third wave, which includes the more contagious variants of the deadly coronavirus, has pushed Ontario’s hospitals to the brink and the situation was deemed to be “dire.” Following a cabinet meeting today, Ontario Premier Doug Ford is scheduled to make an announcement at 2:30 pm.

– In yet another mass shooting in the United States, a gunman killed at least eight people and wounded several others before turning a gun on himself. The slayings occurred shortly after 11 pm Thursday at a Federal Express facility near the Indianapolis International Airport. Local police had yet to name the shooter or determine if he was a FedEx employee as the investigation was continuing. In the last month, U.S. mass shootings include four dead in a California office building, 10 killed at a Boulder, Colo. grocery store, and eight murdered at a number of spas in the Atlanta, Ga. area.

– China reported on Friday that the country’s gross domestic product jumped 18.3 per cent in the first quarter of 2021 compared to a year ago. At that time, the coronavirus had taken deep root in China and devastated its economy. The new GDP data included a 14.1 per cent increase in industrial output, retail sales skyrocketing 34.2 per cent, fixed-asset investment up 25.6 percent and unemployment was at 5.3 per cent. The first quarter data put the country well ahead of the projected six per cent economic growth for this year.

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