China lockdown worries hit stocks; Uber and Twitter shares fall; Wizz Air to cut more flights – as it happened

Shares hit as China try to quell resurgent Covid-19 outbreaks, while shares in Twitter drop after Musk tries to cancel takeover, and Uber is hit by leak

Elon Musk has responded to Twitter's pledge to sue him, with a series of photos of himself having a good old chortle:

But will Twitter actually have the last laugh, having turned to New York-based law firm Wachtell, Lipton, Rosen & Katz to force Musk to complete the deal?

They will likely be asking for a declaratory judgment that they are not in violation of the contract. Also, they will ask for an order from the court that Musk specifically perform his obligations under the agreement," said Brian Quinn, an associate professor at Boston College law school.

Under the terms of the agreement the company can ask a judge for specific performance", which would compel Musk to buy the company for the $54.20 a share he agreed to in April. Alternatively, the company can also seek a $1bn break fee from Musk for walking away from the deal in contravention of the agreement.