Have a safe and socially distanced July Fourth. You know the rules, annoying as they are. And fresh outbreaks in many states prove the dangers of wishful thinking. Here’s what else you need to know for the week ahead in business and tech.

That terrifying resurgence of coronavirus infections that health officials warned us about? It’s here. The United States reported its largest one-day total of new cases last week, more than two months after the previous high. This time, it’s ravaging states in the South and West that lifted their business restrictions aggressively. Several states, including North Carolina, Louisiana and Kansas, hit pause on reopening plans, and Texas and Florida shut down bars again. Markets fell as investors realized that the virus is far from contained, and the International Monetary Fund warned that the global economy is looking even worse than it previously thought it would, as businesses around the world continue to reel from the pandemic.

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