Source: Yahoo
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • A staggering 428 new cases of COVID-19 have been recorded in Victoria in the last 24 hours, smashing previous daily records
  • Another three Victorians also died overnight after contracting the coronavirus, bringing the state’s total death toll to 32
  • Health authorities warned unless these daily case numbers reduce, more deaths were inevitable
  • Meanwhile, NSW has introduced new restriction for indoor gatherings, following a spike in COVID-19 cases in the state

Another 428 new cases of COVID-19 have been recorded in Victoria in the last 24 hours, as well as three more deaths in the state.

The huge increase in daily cases, the worst ever recorded in Victoria, have been labelled ‘disappointing and concerning’ by the state’s Chief Health Officer.

Brett Sutton warned unless the state’s daily case numbers began to drop, more COVID-19 related deaths were inevitable.

“Tragically there will be several who require intensive care support and a number of people will die,” he said.

The latest deaths from the virus include a man in his 80s, a man in his 70s, and a woman in her 80s, all of whom passed away overnight.

Case breakdown

More than 24,000 COVID-19 tests were conducted across Victoria yesterday, meaning 1.7 per cent of all testing conducted resulted in a positive result.

Currently, there are 122 people in hospitals across the state with the virus, with 31 of those in intensive care, fighting for life.

While of today’s 428 new cases, five are linked to regional Victoria, prompting the Premier to call for rural residents to start wearing masks when out in public.

Melbournians have also been advised to don masks when leaving their homes, in a bid to stop the spread of the deadly virus.

Residents in the Victorian capital city have also had their lockdown restrictions extended slightly, with those caught exercising outside of their suburb to be fined up to $1,600.

NSW precautionary act

After witnessing a slight increase in COVID-19 cases recently, NSW officials today announced they’re taking pre-emptive action and tightening restrictions on indoor gatherings.

Amongst the changes, are the number of group bookings allowed at restaurants and cafes, down from 20 people to 10.

Weddings and corporate events will be capped at 150 people, while funerals and church services will be capped at 100 people.

All of these new rules will come in to effect next week, and health officials have also asked residents to limit the number of people they invite to their homes.

Global catastrophe

While the surge in Victoria is concerning, globally Australia’s cases are a drop in the water compared to the U.S.

71,135 new cases were recorded in the country yesterday – beating the country’s previous daily record of 67,791 new cases earlier this week.

The total number of COVID-19 cases in the country now totals more than 3.5 million, with current trends showing that number is almost guaranteed to increase.

More From The Market Online
AI image representing commodity price trends

Waning appetites for green metals and the ‘comfortable’ safe haven of gold: Thoughts on investment and commodities

Lithium's past highs and recent lows, in addition to copper's rally and gold's strong performance are…
Two miners digging in a cave awash with gold light.

The ASX gold miners benefiting most from gleaming bullion prices

Gleaming gold prices across the globe have helped several ASX gold miners sparkle especially bright as…
Image representing economic data.

GDP grows 0.2% in June quarter, but annual growth the slowest since the 1990s

Australian GDP for the June quarter came in on-target at 0.2%, the same figure as in…
Stack of coins next to a upward curve symbolizing rising costs due to inflation

Inflation cools in the 12 months to July, with reading of 3.5%

Australia's CPI reading for the 12 months to July showed an increase by 3.5%, down from…