Stocks surge on virus treatment hopes

New York (AFP) – Global stock markets shot higher on Wednesday after a US company reported positive test results for a drug used in treating the new coronavirus, more than offsetting news of a massive downturn in the American economy.Meanwhile data showing crude stockpiles in the United States rising less than expected sent oil prices spiking, with US benchmark oil WTI soaring by more than a third before dialing the gains back. US and European stocks both advanced after Gilead Sciences said that remdesivir, one of the most highly anticipated drugs being tested for use against coronavirus, show…

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