U.S. markets rebound after coronavirus-fueled sell-off - The Washington Post

The Wall Street Journal reported Monday evening that Moderna had sent vials to the National Institute of Allergy and Infectious Diseases in Bethesda, Md. The Institute told the Journal that it expects to start a clinical trial of 20 to 25 healthy volunteers by the end of April to test whether two doses of the vaccine induce an immune response that can guard against the infection.

Much is still unknown about the novel coronavirus virus and the illness it causes, prompting a rush to produce a vaccine and test its safety and efficacy. That push isn’t only coming from private biotech firms. Late Monday, the White House asked Congress for $1.8 billion in emergency spending to boost its coronavirus response.

“The administration believes additional federal resources are necessary to take steps to prepare for a potential worsening of the situation in the United States,” wrote Acting White House Office of Management and Budget director Russell Vought in a letter to congressional leaders.

Separately, President Trump said Tuesday the U.S. stock market would crash if he doesn’t win reelection. Trump routinely cites the strength of the U.S. markets, which have long been trading at or near record highs, as a barometer of his presidency. From the White House to the campaign trail, he touts that success as one of his chief accomplishments.

Speaking at a business round table during his 36-hour visit to India, Trump said the markets would see a boost if he wins in November. But “if I don’t win, you’re going to see a crash like you’ve never seen before,” Trump said.

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