Dentons Flashpoint - July 2, 2020

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COVID-19 cases are surging globally, with over 150,000 reported each day over the past week. France quits a NATO Mediterranean Sea mission over an incident with Turkish vessels as tensions rise between the two NATO members. Saudi Arabia threatens new price war unless fellow OPEC members abide by agreed to production cuts. A rundown of important global developments in markets, in business, and region-by-region, as well as statistical risk assessments by country and by US state.

Fourth of July Weekend: Tipping Point for a New Virus Spike? The Fourth of July holiday in the US is approaching, and public health officials and the public are waiting to see if the holiday will cause a spike in cases similar to the one observed after Memorial Day in late May. Increased fear of coronavirus and re-imposed restrictions in some states may d prevent another jump; however, mobility reports and hesitation by many states to reimpose regulations means that cases will likely continue to rise steeply.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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