stock market

All three major US indices fell sharply, but the tech-dominated Nasdaq was by far the weakest, sinking 3.5 percent.

Bitcoin topped $50,000 for the first time amid increased support from corporate heavyweights.

Bitcoin struck a fresh high of $48,663.05 as the cryptocurrency gained further mainstream support.

Bitcoin briefly pushed to a record-high of $48,215.83 after winning a huge boost Monday from news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency.

On Wednesday, daily global deaths from Covid-19 topped 18,000 for the first time.

The biggest driver of the market rally in recent weeks has been hope for Biden's $1.9 trillion economic rescue plan.

The IPO market has also attracted interest in recent years due to the easier availability of financing, alongside ultra-low interest rates.

Investors worldwide appear to have set aside concerns over the pandemic for now, though it continues to cast a shadow as governments in some countries keep lockdowns in place.

The bad news included data showing spiking Covid-19 cases led in December to the first job losses since April.

Markets have been buoyed in recent months by the prospect of Republicans holding the Senate and provide a check on the Democrats but analysts said a "blue wave" scenario has spooked investors.

On December 24, Britain and the European Union agreed a post-Brexit deal that allayed the threat of disruption to business on January 1, when measures extending free trade are set to end.

The emergency US package is part of a larger spending bill that, with Trump's signature, will avoid a government shutdown on Tuesday.

Johnson warned last-gasp talks for a Brexit trade deal with the European Union could fail, and urged the public to prepare for a "no deal."

JD Health's total revenue rose to 8.8 billion yuan ($1.34 billion) in the first half of 2020 from 5 billion yuan in the same period last year, it said in its prospectus.

Shares in Boeing jumped 6.0 percent, helping to lift the Dow on a mixed day for US equities.

Tesla produces far fewer cars than traditional manufacturers, but is clearly favored by markets.

The rally petered out on Tuesday, with the Dow closing 0.6 percent lower and the Nasdaq and S&P 500 also ending in the red.

With logistics proving a headache, the economic benefits from the vaccine likely will not be seen until the second half of next year, observers warned.

The Trump campaign has already mounted legal challenges in several states, but no evidence has emerged of any widespread irregularities that would affect the results.

The greenback is sitting at its lowest levels against the yen since the dark days of March when the virus began battering the world economy

Executives from large US banks said additional support was needed for the coronavirus-ravaged economy.

Oil prices dropped more than three percent, extending Thursday's sharp drops.

Along with the fine, JPMorgan is required to beef up its compliance program and self-report any offenses.

Asian markets were mostly in positive territory.

Most Asian bourses had already fallen sharply earlier in the day.

The economic outlook remains exceptionally uncertain, with the Covid-19 pandemic continuing to exert a substantial toll on economies and societies.

Large tech companies have been major beneficiaries during the coronavirus pandemic.

The tech sector has been a consistent bright spot amid the severe coronavirus downturn in the United States.

The head of the World Health Organization's European branch said new widespread lockdowns would not be needed.

Analysts said easing concerns about the future of the China-US trade pact and healthy China data also provided some cheer to investors.