US stock market volatile but stays at elevated levels

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.