US stock market volatile but stays at elevated levels

Published Sun, May 17, 2020 · 09:50 PM

US STOCKS fell last week after stark warnings from the country's infectious diseases expert Anthony Fauci about the risks of the US economy's reopening and unexpected salvos in the US-China trade war.

Should China respond to US efforts to restrict telecom giant Huawei Technologies' access to chip technology, or should there be signs of a rapid Covid-19 spread in reopened states, there could be another stock-market selloff later this week.

Dr Fauci, the director of the National Institute of Allergy and Infectious Diseases, warned that premature efforts to reopen businesses could backfire and cause a second wave of infections in the US.

The push for reopening from US President Donald Trump and Republican governors ref…