Oil Prices and Stock Markets Slip As Coronavirus Cases Rise – Business Live | Company

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Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business.After a turbulent week, European stock markets rebounded on Friday on learning that Gilead Sciences’ drug Remdesivir had received US regulator approval as a treatment for Covid-19 (the first treatment approved by the FDA), but the markets have it all. similarly ended the week down.

This morning, oil prices fell more than 2% and Asian stocks are mostly down. Rising coronavirus cases around the world and new government restrictions, as well as growing doubts that a U.S. fiscal stimulus package could be passed ahead of next week’s elections, weigh on markets.

The United States has announced its highest number of new Covid-19 cases in the past two days and Spain has declared a state of emergency. The virus has infected more than 42 million people worldwide and resulted in 1.1 million deaths. You can read more on our live coronavirus blog here:

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