Coronavirus update - March 25th
Bottom Line: This daily update is designed to put everything in perspective with straight-forward facts. No hyperbole, no misinformation, no “bad math”. Tuesday was a day focused on the battle in Washington over relief for individuals and businesses due to the virus. In the wee hours this morning a deal on $2 trillion in spending was reached which includes direct payouts to individuals and families along with a $500 billion backstop for businesses. It was also a day in which President Trump indicated it was his intention to have the country reopened within weeks rather than months which along with congressional optimism brought about the biggest percentage gain for stocks since 1933.
Regarding the virus itself, U.S. Surgeon General Dr. Jerome Adams said the country has turned the corner on testing which will help officials track the trajectory of the virus. This in turn should help with future response plans and could result in more targeted solutions as opposed to the across the board stoppages we’re currently experiencing. One of the bright spots on the horizon is the recent FDA approval of a new test that can produce results in as few as 45 minutes. The new tests are set be shipping nationwide starting Friday – for full use across the country next week.
As a reminder, according to the Task Force, those over the age of 60 are disproportionately impacted by COVID-19. Officials stated that the symptoms are least severe with those who are youngest. The task force also indicated the average age of death for someone due to the virus is 80.
Here’s where we now stand in Florida:
- 1,467 instate cases –20 deaths –3 recovered
Nationally:
- 54,916 cases – 784 deaths –379 recovered
Worldwide:
- 423,329 – 18,923 deaths – 109,172 recovered
We experienced over 82,000 new cases worldwide on Tuesday, with more than 8,000 new cases in the US and over 200 additional deaths. The United States remains 3rd in the world in total cases, only behind China and Italy. The most disconcerting aspect of the virus at this point remains the death/recovery rate based on closed cases. We have nearly double the deaths to recoveries in the US thus far and worldwide the death rate has spiked to 15%. This after having reached a low of 6% just over two weeks ago. We’ve seen the death rate rise as the reach of the virus grows. The common pattern with the virus spreading is an increase in death rates with vulnerable early on, followed by improving rates overtime as people begin to recover. I’m not at all trying to be an alarmist. Those are just the facts. Hopefully we begin to see progress with the death rate along with spring. The traditional flu season generally ends in April.