World's stock markets soar on coronavirus treatment hopes
by Larry Elliott Economics editor from on (#52TTD)
Investors shrug off US growth gloom after promising data from remdesivir drug trial
Shares have soared on the world's stock markets after investors shrugged off a deep slump in the US economy and pinned their hopes on a possible breakthrough in treatment for Covid-19.
Despite news that the longest expansion in US history came to an abrupt end in the first three months of 2020, financial markets were buoyed by an update from the American biopharma company Gilead Sciences on its experimental drug remdesivir.
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