Markets fall back as Covid-19 fears mount – business live

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Rolling coverage of the latest economic and financial news

8.03am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Related: US passes 250,000 deaths from coronavirus

Whether it be outlooks or markets it’s all about vaccines and the virus at the moment. Risk assets actually slipped late in the US session, and closed at the lows (S&P 500 -1.16%), largely due to NYC school closures coming into force again today after the city’s positivity rate of first time Covid-19 tests rose over 3%.

In terms of the sectoral moves, every industry group in the US ended lower except for Autos (+1.14%), while the losses were led by Energy (-2.88%) and Utilities (-1.94%).

Related: Coronavirus live news: Japan sees record daily infections; India edges close to 9m cases

European Opening Calls:#FTSE 6336 -0.77%#DAX 13110 -0.69%#CAC 5480 -0.57%#AEX 597 -0.60%#MIB 21535 -0.41%#IBEX 7919 -0.79%#OMX 1912 -0.53%#STOXX 3458 -0.70%#IGOpeningCall

Global markets drop as shutdown fears due to a rise in new Corona cases outweigh positive vaccine news. US Coronavirus deaths top 250k. Bonds gain in Risk-Off environment w/US 10y at 0.85%. Dollar Index holds near 2y low w/Euro at $1.1847. Gold at $1860. Bitcoin steady at $17.8k. pic.twitter.com/NREf4gT03q

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