WINNIPEG, April 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump said he will U.S. cut funding to the World Health Organization (WHO) pending a review. Reports stated the U.S. contributes US$400 million to US$500 million annually to the United Nations’ agency, which is about 15 per cent of WHO’s budget. Trump has repeatedly accused WHO of responding too slowly to the COVID-19 pandemic and of being too lenient on China for its handling of the outbreak. Several world leaders castigated Trump, including those from the European Union, Germany, Australia, New Zealand, as well as the American Medical Association and the International Council of Nurses. The U.S. leads the world in the number of COVID-19 cases and deaths compared to the rest of the world.
– The total number of reported COVID-19 cases around the world will surpass the two million mark on Wednesday, according to data from Johns Hopkins University. The U.S. leads the world with almost 610,000 cases, followed by Spain at nearly 178,000 and Italy at more than 162,000. The world has seen over 128,000 COVID-19 related deaths, of which about 26,000 have been in the U.S., 21,000 in Italy and over 18,000 in Spain.
– In Statistics Canada’s first-ever flash estimate, the agency reported on Wednesday that the country’s economy plummeted by nine per cent in March compared to February. Statistics Canada said that’s the largest month-to-month drop in Canada’s gross domestic product since it began the tracking data in 1961. The agency said the nation-wide virtual shut down, due to the pandemic, was responsible for the economy shrinking.