London — World stocks and oil prices were faltering on Friday as record-setting new coronavirus cases in several US states led to worries that more lockdowns may be necessary, making a quick economic recovery unlikely.

The upcoming second-quarter earnings season, expected to be the worst for Europe and the US since the 2008/2009 financial crisis, added to the woes, pushing investors to chase safe-haven assets, such as US treasuries and the yen...

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