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US stock markets suffered their sharpest drop in weeks as concerns about the economic impact of surging coronavirus cases sent shares tumbling.
The Dow Jones Industrial Average closed down 2.3%, after dropping more than 3% earlier in the day. The S&P 500 fell 1.8% and the Nasdaq 1.6%.
Stocks in Europe, where a rise in virus cases has prompted new restrictions, also declined.
Shares in travel and energy firms took some of the heaviest losses.
In the United States, cruise…
Tesla’s market value soars to $500bn ahead of S&P 500 debut – Financial Times
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Matt Hancock overruled officials to order millions of extra Oxford Covid vaccines, says Grant Shapps – Telegraph.co.uk
Matt Hancock overruled officials in insisting that the UK ordered an extra 70 million Oxford AstraZeneca Covid vaccines, the Transport Secretary has said.
Grant Shapps, the Transport Secretary, told LBC radio the decision to buy the AstraZeneca jab in such large quantities had been taken by the Health Secretary against the advice of officials.
He said: “We have 100 million doses that someone in Government, it was actually the Health Secretary, Matt Hancock, had the good sense to buy in advance I have to tell you, more than he was advised to buy. He was advised to buy 30 million, he decided to buy 100 million.”
Whitehall sources said: “Initially,…
Quarantine rule change welcomed by UK travel industry – The Guardian
The number of days required to self-isolate on return will be reduced from 14 to five if a negative Covid test is provided
The travel industry has welcomed the change in quarantine rules that will allow passengers returning to the UK from high-risk countries to reduce the time they self-isolate to five days, if they can provide a negative Covid test result.
Travel companies have been campaigning against the mandatory 14-day quarantine for all returning travellers since it was introduced on 8 June. Paul Charles of the PC Agency, who led the Quash Quarantine campaign, with the backing of 500 travel and hospitality companies,…
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