FT News Briefing

Covid-19 shakes US equities, OECD warns against post-pandemic austerity

US equities had their worst day since October as spiking coronavirus cases and lockdowns shook investors, nearly €6bn of EU share dealing shifted away from London in the first trading day after Brexit, and China’s currency has rallied to its highest level in more than two years. Plus, the FT’s economics editor, Chris Giles, explains why the OECD’s top economist wants governments to rethink their constraints on public spending.  EU shares trading flees London on First day after full Brexit<a href="https://www.ft.com/content/a434b756-afe0-454d-9d70-ef2d42ea8d55" rel="noopener noreferrer" target="_blank">https://www.ft.com/content/a434b756-afe0-454d-9d70-ef2d42ea8d55</a> Wall Street suffers worst day since October on virus advance <a href="https://www.ft.com/content/82e8a6ee-78a3-4ed1-aa13-bf6a67e58d97" rel="noopener noreferrer" target="_blank">https://www.ft.com/content/82e8a6ee-78a3-4ed1-aa13-bf6a67e58d97</a> Renminbi rallies past 6.5 per dollar for first time since 2018<a href="https://www.ft.com/content/c91a70d8-001c-4924-9bfa-9b5c21099112" rel="noopener noreferrer" target="_blank">https://www.ft.com/content/c91a70d8-001c-4924-9bfa-9b5c21099112</a> OECD warns governments to rethink constraints on public spending<a href="https://www.ft.com/content/7c721361-37a4-4a44-9117-6043afee0f6b" rel="noopener noreferrer" target="_blank">https://www.ft.com/content/7c721361-37a4-4a44-9117-6043afee0f6b</a> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning. Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.