Over 54,000 Covid-19 deaths in hardest-hit US, number of cases near a million

The US recorded 1,330 more Covid-19 related deaths within the past 24 hours, in keeping with figures reported late on Sunday by the Johns Hopkins University.

The country now has an overall cost of 54,841, with 9,64,937 confirmed infections, in keeping with a tally by the Baltimore-based institution at 8:30 pm on Sunday.

The US is out and away from the hardest-hit country within the global pandemic, in terms of both confirmed infections and deaths.

The 24-hour US cost was 2,494 late on Saturday, and 1,258 on Friday evening - very low in nearly three weeks - because the government struggles to defeat the virus.

The US Government notified lenders on Sunday that it'll cap what quantity each bank can lend under the emergency loan programme designed to stay workers on payrolls amid the coronavirus pandemic, hours before the reopening of the lending programme.

US banks were girding over the weekend for an additional frantic race to grab $310 billion in fresh small-business aid due to being released by the govt.

Despite technical and paperwork challenges, the programme’s first round of funds was exhausted in. Still, period and lenders expect the second tranche of money to be snapped up even faster by tens of thousands of applications queued up.

That has left thousands of small businesses that are forced to pack up to stem the disease outbreak, without badly needed funds to stay them afloat.

The shuttering of the US economy due to the coronavirus pandemic may be a shock of historic proportions that may likely push the national per centum to 16 per cent or higher this month and need more stimulus to confirm a robust rebound, a White House economic adviser said on Sunday.

“This is that the biggest negative shock that our economy, I think, has ever seen. We’re going to be looking at an unemployment rate that approaches rates that we saw during the ‘Great Depression’ of the 1930s,” President Donald Trump’s adviser, Kevin Hassett, said at an ABC programme.

A record 26.5 million Americans have filed for jobless benefits since mid-March, and retail sales, home building and consumer confidence have all cratered.