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

https://www.ft.com/content/a434b756-afe0-454d-9d70-ef2d42ea8d55

Wall Street suffers worst day since October on virus advance

https://www.ft.com/content/82e8a6ee-78a3-4ed1-aa13-bf6a67e58d97

Renminbi rallies past 6.5 per dollar for first time since 2018

https://www.ft.com/content/c91a70d8-001c-4924-9bfa-9b5c21099112

OECD warns governments to rethink constraints on public spending

https://www.ft.com/content/7c721361-37a4-4a44-9117-6043afee0f6b

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