When stuck with the pandemic, any news regarding the drug will cheer you up. The American Doctor Anthony Fauci said that the drug remdesivir can help to treat the coronavirus. Not to be sure that it can completely cure the coronavirus patient, this might be a step ahead. He said, “This will be the standard of care. What it has proven is a drug can block this virus.” Meaning that the drug can reduce the recovery time and increase the survival rate.
With ‘quite some good news’, the investors are looking up to reopen the markets. Gilead Science has seen the 5.5 percent increase in shares by New York trading. Giving hope to markets, as they rise, the drug can be helpful in the speedy recovery of coronavirus infected patients.
After Dr. Anthony’s statement, the markets feel the hope that will reopen the businesses soon. President Donald Trump also has a vision of reopening the markets as the economy is suffering and causing some devastating effects. Such medical breakthroughs can provide a less restrictive environment presented by the government.
Lockdown across the world has ceased the movement, including the complete closure of markets, which directly leads to cause the negative effects on the economy. Within a few weeks millions of people have lost their jobs, people ran out of money and thus focusing on somehow to regain the lost wealth. It’s not a common thing to think of buying food but nowadays it has become a priority to only buy the food which is necessary. We might as well have seen in our daily life that how much we spend extra on ourselves.
There are no vehicles on the road, the oil market has crashed and the economy is crippling down. The only headline left is of the pandemic coronavirus and its effects on the economy.
Toward the finish of its two-day fiscal strategy meeting, the Federal Reserve left key loan costs close to zero, while Chairman Jerome Powell cautioned that the US economy would drop at an “unprecedented rate” in the present quarter.
Yet, he likewise said the development would get as limitations were lifted and promised that the Fed would keep on supporting the recovery. That returned on the of solid increases for US stock markets.