Prolonged periods of time about postponing some of those gatherings that we may want to have an exact advice is that we all have to make. And pharmaceutical giant pfizer says its late stage job in 1000 vaccine trial is nearly fully enrolled the companys phase 3 trial is just 2000 volunteers shy of the 44000 needed the company said during an Earnings Call Tuesday Morning pfizer and biotechs drug is viewed as one of the worlds most promising vaccine candidates while the company had said it hoped to have data on the efficacy of the vaccine by the end of this month during the call pfizer c. E. O. Albert borlase said this of the situation in case of a conclusive read out we will inform the public as soon as we complete the necessary administrative work which we estimate to be completed within one week from the time we know so with all of this in mind lets go ahead and take another look at the trends in the spread of the virus globally with r t correspondent size tablature so where are we to
Claims to be slashed after 65 percent drop in revenue we have a lot to get to fill up get started. On thursday the u. S. Commerce department announced that the United States economy g. D. P. Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record where the previous worst quarter contraction was a 10 percent drop during the Eisenhower Administration in 1958 but these records dont they back to the Great Depression all hopes to end on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract could. Traction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as r
Scientific communities concerns over the World Health Organizations messaging regarding the coronavirus pandemic more than 200 scientists from over 30 nations worldwide are calling on the un back group and other Health Agencies to update guidance regarding the viruses spread by airborne transmission now the paper titled its time it is time to address airborne transmission of cope with 19 will be published this week in the medical journal clinical Infectious Diseases in the paper scientists point to growing evidence that the virus can spread indoors to aerosols that flow in the air and can be spread by smaller quantities than previously believed while guidance has been ever changing throughout the pandemic most experts have focused on social distancing hand washing and avoiding droplets speck come from a cough or a sneeze now the w. H. O. Has come under fire amid the pandemic over its initial response which has prompted calls for reforms within the organisation as well as a threat from
Indices in the dow s. And p. 500 tech heavy nasdaq all fell by at least 1. 5 percent but turn positive hitting session highs in the final hour of trading markets were initially pushed down by more bad news in the u. S. Job market as the Labor Department reported nearly 3000000 new jobless claims for the week ending the 8th of march now this brings the total number of unemployment claims in the u. S. To more than 36. 00 a 1000000 over the last 2 months due to the coronavirus pandemic now the Unemployment Rate in the country is now over 14 percent now it has been a rough week for u. S. Markets on wednesday alone the dow dropped 2. 2 percent the s. And p. Lost 1. 8 percent and the nasdaq which had been having a really nice run fell by 1. 6 percent this market turmoil is also comes as the u. S. Federal reserve ward of a prolonged recession dashing hopes of a quick recovery for the Worlds Largest economy and joining us now to break down what is going on in markets is boom bust cohost Christ
From their sous out factory because it lacks certification required by the new rules and then there is 3 m. Corporation based in minnesota which says that its and 95. 00 respirator masks are stuck in shanghai the claim from 3 m. Is that a shanghai vice mayor has told the company that lifting restrictions on distribution of Companies Mass would require instructions from beijing directly to joining us now to break this all down of boom bust cohost an investigative journalist ben swan so ben explain what these new restrictions are that are creating such a backlog of supplies yeah and brand is actually a couple of things that are happening 1st of all chinas National Medical Products Association and administration sees me as telling essentially companies that they cannot sin products medical products to the United States without to go through a certain level of checks and then double checks by that administration and essentially theyre saying you know everything has to be halted until it ca