News Formal

Asian stocks fall, Europe set to follow on doubts over coronavirus drug

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

TOKYO/WASHINGTON: Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat ...

TOKYO/WASHINGTON: Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.

The S&P 500 and the Nasdaq turned negative at the close on Thursday after a report that Gilead Sciences Inc's antiviral drug remdesivir had failed to help severely ill COVID-19 patients in its first clinical trial. U.S. business activity plumbed record lows in April, mirroring dire figures from Europe and Asia as strict stay-at-home orders crushed production, supply chains and consumer spending, a survey showed.

Shares in South Korea, which has won recognition for its aggressive measures to contain the coronavirus, fell 1.11per cent. U.S. crude ticked up 4.85per cent to US$17.30 a barrel, while Brent crude rose 3.98per cent to US$22.18 per barrel in Asia as some oil producers said they will bring forward output cuts.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks poised to rise after Wall Street gains slip awayAsia equities face a bumpy session on Friday after Wall Street pared early gains as optimism over a rebound in oil prices and prospects for ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Europe: Oil stocks, banks drive gains; EU stimulus decision awaited[BENGALURU] A rally in energy and bank shares lifted European stock markets on Thursday, while investors counted on more stimulus to revive the bloc's economy as the coronavirus-induced lockdowns brought activity to a halt in April. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Brent slumps to 1999 lows, stocks clamber higherAsian share markets were set to tumble on Wednesday as the floor fell out from under U.S. crude prices, exposing the deep damage the coronavirus ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »