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Global Stocks Steady as Oil Prices Recover – The Wall Street Journal

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Global Stocks Steady as Oil Prices Recover – The Wall Street Journal

U.S. stocks swung sharply Thursday, with the Dow Jones Industrial Average giving up most of a 400-point rally on reports that a potential treatment for Covid-19 disappointed in a clinical trial. Major indexes traded higher for most of the day but ended the session largely flat after the Financial Times and other media reported that…

Global Stocks Steady as Oil Prices Recover – The Wall Street Journal

U.S. stocks swung sharply Thursday, with the Dow Jones Industrial Average giving up most of a 400-point rally on reports that a potential treatment for Covid-19 disappointed in a clinical trial.

Major indexes traded higher for most of the day but ended the session largely flat after the Financial Times and other media reported that remdesivir, a Gilead Sciences drug, “flopped” in its first randomized, clinical trial. Gilead shares dropped 4.3% and were briefly halted for volatility.

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