Asian Shares Track Wall Street Decline On Pandemic Jitters
Shares were mostly lower in
Rising coronavirus counts in many countries are raising the urgency to develop vaccines and treatments and setbacks in that process tend to discourage investors.
On Tuesday, independent monitors paused enrollment in a study testing the COVID-19 antiviral drug remdesivir plus an experimental antibody therapy being developed by Eli
Meanwhile, uncertainty about the prospects for more stimulus for the economy from
“As
Overnight, the S&P 500 lost 0.6% to 3,511.93, giving back some of its gains from a day earlier.
The Dow Jones Industrial Average dropped 0.6% to 28,679.81 and the Nasdaq composite gave up an early gain, slipping 0.1% to 11,863.90. The Russell 2000 index of small-cap stocks fell 0.7%, to 1,636.85.
Stocks have been mostly pushing higher this month. Already the major stock indexes have recouped their losses from September’s market swoon. But many forces are pushing and pulling on markets simultaneously.
The
The
The scale of disruptions in hard-hit economic sectors, notably restaurants, retail stores and airlines, suggests that without an available vaccine and effective drugs to combat the virus, many areas of the economy “face a particularly difficult path back to any semblance of normalcy,” the
Meanwhile, another heavy dose of stimulus for the
Still, several companies kicked the earnings season off on Tuesday with better-than-expected reports. JPMorgan Chase,
Overall, however,
In other trading Wednesday, the yield on the 10-year
Benchmark
The
AP Economics Writer
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