The coronavirus (COVID-19) pandemic presents a historic challenge. The prices of equities fell sharply, from previously overstretched levels. Oil prices plummeted in the face of weakening global demand and the failure of the OPEC+ countries to reach an agreement on output cuts.

Gold prices fell on Wednesday as investors locked in profits after strong recent gains. It was last at $1,711 an ounce.

The pan-European STOXX 600 index was down 1.6%, after surging almost 8% since April 6 on early signs the health crisis was ebbing and on hopes that sweeping lockdown measures would soon be lifted.

The project was approved by a federal government order in 2018. Tvel said the synchrotron and related infrastructure are scheduled to be commissioned in 2024. Total investment in the project will be more than $580m.

The Philippine index led the gains, rising 3% and hit its highest close in a month. Big caps Ayala Corp and Bank of the Philippine Islands rose 8.3% and 5.2%, respectively.

The Australian dollar rose 0.7% to $0.6432, the New Zealand dollar firmed 0.6% to $0.6131 and the pound added 0.4% to $1.2562 - their strongest since mid-March.

U.S. gold futures GCcv1 settled 0.5% higher at $1,761.40 an ounce and hit their highest since February 2013 at $1,769.50.

France's finance Minister Bruno Le Maire said the economy was now expected to contract 8% this year instead of the 6% flagged as recently as Thursday.

Baker Hughes has approved a plan that will result in restructuring, impairment, and other charges of approximately $1.8 billion

The dollar rose 0.63% against the Norwegian crown NOK=D3 to 10.23

U.S. outlays from a $2.2 trillion rescue package passed on March 27 are only just beginning.

The North American unit of French energy group Engie SA (EPA:ENGI) has secured up to USD 1.6 billion (EUR 1.46bn) in tax equity financing for its 2-GW portfolio of renewables assets in the US.

Against the euro EUR=EBS, the dollar last stood at $1.0941, on course for 1.3% weekly decline.

“Fusion energy technology holds great potential to be a safe, clean, reliable energy source, but research and development of fusion technology is often constrained by prohibitive costs,” said Under Secretary of Energy Mark W. Menezes.

China - at the close, the Shanghai Composite index was up 0.37% at 2,825.90.