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Wall Street trims gains after report on coronavirus drug trial
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Wall Street was in positive territory on Tuesday but surrendered strong earlier gains after a report that an experimental antiviral drug for the coronavirus flopped in its first randomized clinical trial.
All three main U.S. stock indexes trimmed increases of over 1%, with the S&P 500 and Nasdaq briefly turning negative after the Financial Times reported that a Chinese trial showed that Gilead Science's remdesivir did not improve patients' condition or reduce the pathogen's presence in the bloodstream.
Gilead said the results from the study were inconclusive as it was terminated early. Last Friday, Wall Street rallied in part because of a report that COVID-19 patients in a separate study had responded positively to remdesivir.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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