A worrying social crisis is brewing in Latin America where the coronavirus pandemic is spiralling, experts are warning, as fears of a second wave in the United States sent shivers through global markets.
More than 1.5 million people have been infected in Central and South America — 70,000 of them are already dead — with no signs of the disease slowing, especially in hard-hit Brazil.
The UN Economic Commission for Latin America and the Caribbean (ECLAC) said the crisis could provoke the region’s worst recession in history.
The ECLAC general secretary Alicia Barcena, also revealed that they are worried the region could come out of this crisis with more debt, poorer, hungrier and with more unemployment, and most of all, angry.
Figures showed a spike in new infections in key states including Texas, California, Arizona and Florida.
Equities and oil sank Friday in Asian trade, following a day of reckoning on American markets, where the main stock index plunged almost 7 percent to log one of its worst days in recent memory.