The Economist Continental Europe Edition May 9, 2020

Politics Reversing course, Donald Trump said that America’s coronavirus task-force would continue, but also focus on rebooting the economy. More states began easing their lock-downs. Florida allowed shops to trade if they limit customers, except in the heavily populated corridor between Miami and Palm Beach. In Michigan, the scene of rowdy anti-lock-down protests, the Republican legislature refused a request from the Democratic governor to extend her stay-at-home order. She extended it anyway. America’s Supreme Court worked remotely for the first time, hearing arguments via teleconferences. The normally reticent Clarence Thomas, a justice on the court since 1991, asked questions, only his third comments during hearings in more than a decade. Ruth Bader Ginsburg, who is 87, was in hospital with an infection and took part from there. America’s secretary of…

The worldwide death toll from covid-19 rose above 250,000. Infections surged in Russia, to over 10,000 a day. Mikhail Mishustin, the prime minister, tested positive for the disease. The first infection was officially confirmed in Sana’a, Yemen’s capital, which is held by Houthi rebels. Reports from Nigeria, Somalia and Tanzania of a sharp rise in unexplained deaths suggested that official tallies of covid-19 are misleadingly low. New Zealand’s prime minister, Jacinda Ardern, said border restrictions would remain for “some time to come”. But she would like a quarantine-free travel “bubble” with Australia. In Germany shops were allowed to reopen, with social distancing. Football matches will resume in the Bundesliga, but without spectators. For our latest coverage of the virus and its consequences please visit economist.com/ coronavirus or download the Economist app.…

The worldwide death toll from covid-19 rose above 250,000. Infections surged in Russia, to over 10,000 a day. Mikhail Mishustin, the prime minister, tested positive for the disease. The first infection was officially confirmed in Sana’a, Yemen’s capital, which is held by Houthi rebels. Reports from Nigeria, Somalia and Tanzania of a sharp rise in unexplained deaths suggested that official tallies of covid-19 are misleadingly low. New Zealand’s prime minister, Jacinda Ardern, said border restrictions would remain for “some time to come”. But she would like a quarantine-free travel “bubble” with Australia. In Germany shops were allowed to reopen, with social distancing. Football matches will resume in the Bundesliga, but without spectators. For our latest coverage of the virus and its consequences please visit economist.com/ coronavirus or download the Economist app.…

Politics Reversing course, Donald Trump said that America’s coronavirus task-force would continue, but also focus on rebooting the economy. More states began easing their lock-downs. Florida allowed shops to trade if they limit customers, except in the heavily populated corridor between Miami and Palm Beach. In Michigan, the scene of rowdy anti-lock-down protests, the Republican legislature refused a request from the Democratic governor to extend her stay-at-home order. She extended it anyway. America’s Supreme Court worked remotely for the first time, hearing arguments via teleconferences. The normally reticent Clarence Thomas, a justice on the court since 1991, asked questions, only his third comments during hearings in more than a decade. Ruth Bader Ginsburg, who is 87, was in hospital with an infection and took part from there. America’s secretary of state, Mike Pompeo,…

STOCK MARKET HISTORY is packed with drama: the 1929 crash; Black Monday in 1987, when share prices lost 20% in a day; the dotcom mania in 1999. With such precedents, nothing should come as a surprise, but the past eight weeks have been remarkable, nonetheless. A gut-wrenching sell-off in shares has been followed by a delirious rally in America. Between February 19th and March 23rd, the S&P 500 index lost a third of its value. With barely a pause it has since rocketed, recovering more than half its loss. The catalyst was news that the Federal Reserve would buy corporate bonds, helping big firms finance their debts. Investors shifted from panic to optimism without missing a beat. This rosy view from Wall Street should make you uneasy (see Finance section). It…

STOCK MARKET HISTORY is packed with drama: the 1929 crash; Black Monday in 1987, when share prices lost 20% in a day; the dotcom mania in 1999. With such precedents, nothing should come as a surprise, but the past eight weeks have been remarkable, nonetheless. A gut-wrenching sell-off in shares has been followed by a delirious rally in America. Between February 19th and March 23rd, the S&P 500 index lost a third of its value. With barely a pause it has since rocketed, recovering more than half its loss. The catalyst was news that the Federal Reserve would buy corporate bonds, helping big firms finance their debts. Investors shifted from panic to optimism without missing a beat. This rosy view from Wall Street should make you uneasy (see Finance section).…