Billions of dollars of losses on Wall Street are exposed to the Archegos Capital fire sale fallout, with Nomura, Viacom and Discovery following Credit Suisse into the red. In Washington, President Biden aims to stave off CDC warnings of a late winter surge, saying 90 per cent of Americans will be eligible for Covid vaccines within the next month. Global sea trade resumes along the Suez Canal after the Ever Given super-container ship is finally refloated. Saudi Arabia calls for extended output cuts with markets turning their attention to upcoming OPEC+ talks. And in corporate news, Unicredit investors have been reportedly urged to protest against the €7.5m pay packet going to incoming chief executive Andrea Orcel.

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