US stocks took their worst hit for three months on Wednesday, recovered some ground on Thursday, but has fallen again this morning with US futures lower overnight. Worries are increasing that a wave of speculative trading from private investors, buying heavily shorted stocks popular with hedge funds, is forcing the funds to sell longs to cover their losses. A number of brokers, including the popular Robinhood, introduced trading limitations on Thursday to prevent the activity causing outrage from retail traders.
The row between the European Union and Astrazencea continues. The EU has said it will restrict export of vaccines unless the drug maker commits to its promised supply.
On a more positive note, trials show that the coronavirus vaccine from Novavax is 89.3% effective and nearly as effective when trialled against the new UK variant.
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