European stocks fell sharply on Friday as reports of a newly identified and possibly vaccine-resistant coronavirus variant added to concerns over surging Covid cases in Europe.Little is known of the variant detected in South Africa, Botswana and Hong Kong, but scientists said it may be able to evade immune responses or make it more transmissible.The World Health Organization will hold a "special m...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.