Stocks struggle as antiviral drug hopes fade | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

Stocks struggle as antiviral drug hopes fade | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN – News of Bahrain- DT News

Stock markets struggled yesterday as hopes of quickly finding a treatment for coronavirus were dashed, analysts said, and more crushing economic data delivered a body blow to confidence.. Michael Hewson, at CMC Markets UK, said markets would probably be "swinging around" in coming weeks on the success or failure of antiviral and vaccine trials "as investors look for crumbs of comfort".. The United States has approved nearly half a billion dollars in new stimulus but European leaders were split on their own measures as the world sought to salvage economies hammered by the coronavirus pandemic.. Economic data released Friday added to the bleak outlook.. German business confidence plummeted to a record low in April as firms fret over COVID-19 fallout, the closely-watched Ifo survey said, describing morale as "catastrophic".. It is important to not conflate medical and economic data," she said in a note.. "Obviously a deceleration in infection rates is a positive development for the economy, but progress in combating this awful disease is not the same as returning the economy to the place it was" in late 2019.. "Investors need to understand that the risks associated with lifting public health measures too early could further exacerbate market pain,"