The Dow posts its worst session since October, while the 10-year Treasury yield hits a five-month low amid continued Covid concerns. UBS beats Q2 forecasts with a $2bn net profit on the back of favourable market conditions and client activity. The U.S. State Department raises a travel advisory for the UK over increasing Covid cases but Prime Minister Boris Johnson says the time for the country to reopen was right. Billionaire investor Bill Ackman tells CNBC exclusively that the SEC drove a ‘dagger in the heart’ of Pershing’s attempted SPAC of Vivendi’s Universal Music Group unit.

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