Stocks fall on worries over EU stimulus details, coronavirus drug

Stocks fall on worries over EU stimulus details, coronavirus drug

MSCI's All Country World Index, which tracks stocks across 49 countries, was down 0.5% and heading for its worst week in three, while MSCI's broadest index of Asia-Pacific shares outside Japan shrank 0.9%.. Avoiding another all-night bust-up, European Union leaders agreed on Thursday to build a trillion euro emergency fund to help recover from the coronavirus pandemic but leaving divisive details until the summer.. French President Emmanuel Macron said differences continued between EU governments over whether the fund should be transferring grant money, or simply making loans.. U.S. stock futures were down 0.7% after the S&P 500 and the Nasdaq turned negative at the close on Thursday in the wake of a report that Gilead Sciences Inc's antiviral drug remdesivir had failed to help severely ill COVID-19 patients in its first clinical trial.. U.S. coronavirus deaths exceeded 49,000 on Thursday as the number of lives lost in April rises by an average of 2,000 a day, according to a Reuters tally..