Global Markets: Protests escalate in Lebanon

By MarketsFarm

WINNIPEG, June 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Widespread protests in Lebanon have escalated in recent days, as the country’s currency collapses to record lows. The Lebanese pound, which had been valued at 1,500 to one United States dollar for decades fell to 4,000 a month ago. From Wednesday to Thursday of this week it dropped to 5,000, and possibly as low as 7,000 – although most markets had stopped trading. The economic crisis has protestors calling for central bank reforms and for the resignation of the current government.

– Attendees at U.S. President Trump’s first rally since the start of the COVID-19 pandemic will be required to sign a waiver absolving Trump’s campaign of any liability should anyone contract the virus. The rally, set for June 19 in Tulsa, Oklahoma, is generating extra controversy due to its timing and location. June 19, also known as Juneteenth, is a holiday marking the reading of the Emancipation Proclamation in 1865 and the end of slavery in the U.S. Meanwhile, Tulsa was the site of a race massacre in 1921 that saw mobs of white residents kill up to 300 black residents.

– Russian President Vladimir Putin appeared at his first public event in more than two months on Thursday to mark the Day of Russia, a national holiday. Russia has been hard hit by COVID-19, with over half-a-million reported cases. However, reported mortality rates remain low with less than 7,000 deaths.

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