Dow 1199


  • Taiwan acknowledges room to improve in COVID-19 response
  • Stocks end mostly lower, but tech gains push Nasdaq higher
  • Taiwan recognizes room for improvement in response to COVID-19
  • Taiwan acknowledges room to improve in COVID-19 response

    Asian stock markets were mostly higher Friday after Wall Street hit a record and Japanese inflation eased. The Dow Jones Industrial Average fell 0. Those losses outweighed gains in technology and a mix of companies that rely on consumer spending. Investors continued to review earnings from a range of retailers to essentially close out the latest round of corporate report cards. Bank Wealth Management. The Dow slid The Nasdaq added Smaller-company stocks fell more than the broader market.

    The Russell index lost The yield on the year Treasury fell to 1. Falling bond yields weighed down banks, which rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase dropped 1.

    Exxon Mobil shed 4. TurboTax maker Intuit jumped Software maker Adobe rose 2. Several companies that rely on direct consumer spending for goods and services also rose. Tesla added 3. Moderna climbed 4. Still, companies are facing higher raw materials costs and supply chain problems that could crimp future profits.

    Consumers have so far absorbed higher prices, but analysts fear they could eventually rein in their spending if higher prices persist too long. The situation is putting pressure on the Federal Reserve to move faster to rein in its ultra-low-rate policies in order to combat rising prices. On Friday, analysts at Bank of America projected that the Fed will likely start raising its benchmark interest rate in the second quarter of , two quarters earlier than they had previously forecast.

    Businesses are facing higher raw materials costs and supply chain problems that have been cutting into operations. That has raised concerns that a wide range of industries could see growth stunted into The latest examples include Williams-Sonoma. The seller of cookware and home furnishings warned investors that supply chain problems could hurt its inventory through the middle of next year. The stock fell 1. Applied Materials fell 5. Prices for U. The higher prices have yet to derail consumer spending, though, and retail sales jumped 1.

    That was the biggest month-to-month gain since March. Copyright The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Share this story.

    The task force in charge of Taiwan's COVID response has acknowledged that the island could have done better in fighting the disease, after 12 families that lost relatives to the pandemic filed a claim seeking financial compensation from the government.

    The families allege that the authorities were underprepared despite having more than a year during which there were few cases, resulting in unnecessary deaths and suffering. Taiwan managed to largely keep out the coronavirus for nearly a year and a half, with 1, cases and 12 deaths as of May The virus then swept through the island, powered by the contagious alpha variant, and Taiwan has now recorded 16, cases and deaths.

    A statement from the Executive Yuan on Thursday expressed compassion, but did not take a position on compensation. Family members say that at the height of the outbreak, their loved ones did not have access to drugs such as the antibody treatments that are widely used in the U. When the outbreak was at its peak in mid-May, the island had no antibody treatments and only 1, units of Remdesivir, an antiviral drug, the Central Epidemic Control Center said.

    Still, it defended its response for the most part, saying it had put many controls in place. The task force did not respond when asked whether it had decided to buy antibody medications before the May outbreak. The families also said that drugs such as Remdesivir were restricted from wide use and doctors had to apply for permission from central health authorities to use it. The epidemic control center said it looked at which drugs in 10 of the most developed countries had received emergency-use approval — including U.

    The U. FDA approved emergency use of one antibody treatment in November and another in February of this year. Taiwan is now recording new daily cases in single digits and has on hand enough Remdesivir to treat about 11, patients and antibody treatments for 4, people. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Taiwan managed to largely keep out the coronavirus for nearly a year and a half, with 1, cases and 12 deaths as of May The virus then swept through the island, powered by the contagious alpha variant, and Taiwan has now recorded 16, cases and deaths.

    A statement from the Executive Yuan on Thursday expressed compassion, but did not take a position on compensation. Family members say that at the height of the outbreak, their loved ones did not have access to drugs such as the antibody treatments that are widely used in the U.

    When the outbreak was at its peak in mid-May, the island had no antibody treatments and only 1, units of Remdesivir, an antiviral drug, the Central Epidemic Control Center said.

    Stocks end mostly lower, but tech gains push Nasdaq higher

    Still, it defended its response for the most part, saying it had put many controls in place. The task force did not respond when asked whether it had decided to buy antibody medications before the May outbreak. The families also said that drugs such as Remdesivir were restricted from wide use and doctors had to apply for permission from central health authorities to use it.

    The families claim that the authorities were insufficiently prepared, despite the fact that there were few cases for more than a year, resulting in unnecessary deaths and suffering. Taiwan managed to largely keep the coronavirus out for nearly a year and a half, with 1, cases and 12 deaths on May The virus then swept across the island, propelled by the contagious alpha strain, and Taiwan has now recorded 16, cases and deaths.

    Taiwan recognizes room for improvement in response to COVID-19

    In addition, the willingness of the public to be vaccinated was low. A statement from the Executive Yuan on Thursday expressed condolences but took no position on compensation. Advertisement Family members say that at the height of the outbreak, their loved ones had no access to drugs like the antibody treatments widely used in the US and elsewhere to prevent cases from getting more serious. When the outbreak was at its peak in mid-May, the island had no antibody treatments and only 1, units of Remdesivir, an antiviral drug, according to the Central Epidemic Control Center.

    Still, it largely defended its response by saying it had put in place many checks.


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