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Originally Posted by lewdog
Yes and no.
The concern isn’t with increased severity. The concerns are possible restrictions around the world where healthcare systems are being maxed out again. National guard being called into numerous states again and many states like AZ back near 100% capacity (beds in hallways in many ERs here) while dealing with staffing shortages. And currently the USA hospital system is fairing better than many European counterparts.
It’s the fear of the unknown the market isn’t liking.
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We are overblowing a lot of that fear. Delta is still the Covid threat. Our system is filling up beds too but Covid is not the only reason despite news porn.
The restrictions are going in right now out of fear of what might be not what is. Nothing to do but you are correct, fear of the unknown is what is spooking the market.