Newark City Orders Suspension of All Non-Essential Businesses After 8 PM
Indoor Dining at Restaurants Prohibited
New York Stock Market Plummets Simultaneously
[Asia Economy New York=Correspondent Baek Jong-min] Control measures have resumed in the U.S. East Coast region due to the resurgence of COVID-19. Amid concerns over the spread of COVID-19, the U.S. stock market is also showing weakness.
According to The New York Times, on the 27th (local time), all non-essential businesses in Newark city are prohibited from operating after 8 p.m.
Indoor dining is also banned after 8 p.m., with only outdoor dining allowed until 11 p.m. Hair salons can operate but only by appointment. Health clubs must disinfect for 30 minutes every hour.
Restaurants that had been operating indoors at up to 25% capacity are concerned that the suspension of indoor dining ahead of winter could cause serious damage.
This measure will be implemented for two weeks and then adjusted based on COVID-19 test positivity rates and other factors.
Dr. Sharif Ilnahal of Newark University Hospital stated, "The number of COVID-19 hospitalizations is doubling every week. The positivity rate for COVID-19 tests is 6%."
The average positivity rate over three days last week in Newark city exceeded 11%, more than double the state average.
New Jersey, along with New York State, was an early epicenter of COVID-19 infections in the U.S., with 230,000 cases to date. However, new cases had decreased to about 300-400 per day until September. Since late September, infections have surged again, with 1,600 new cases reported on the 27th. This is comparable to the number of new infections in New York State, which has a much larger population.
The fact that Newark is located near New York, the largest city in the U.S., adds to concerns. The situation in Newark could lead to lockdowns in New York City. Currently, New York City is not restricting people coming from New Jersey but is requesting reduced travel.
Chicago in central Illinois has also decided to suspend indoor dining starting from the 30th due to concerns over the resurgence of COVID-19. All restaurants and bars must close after 11 p.m.
According to Johns Hopkins University, the number of new COVID-19 cases in the U.S. reached 83,000 on the 24th and 73,000 on the 27th, showing signs of a third wave.
On this day, the Dow Jones Industrial Average fell 1.63%, the S&P 500 dropped 1.77%, and the Nasdaq declined 2.06%. CNBC reported that concerns over economic slowdown due to the resurgence of COVID-19 are pulling down the New York stock market.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
