An Indian coronavirus vaccine that generated controversy when it was granted emergency approval before finishing its final stage of testing has been shown to provide strong protection against Covid-19 in an interim analysis of an advanced clinical trial. In the U.S., which is still recovering from its brutal winter infection wave, New York City sees vaccines for all by late April. But in Sweden, the third wave just hit: Stockholm has fallen victim to a resurgence after infections soared 100% in three weeks. Here’s the latest on the pandemic. —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America.

Here are today’s top stories

U.S. Treasuries tumbled anew Wednesday, pushing up inflation expectations as traders keep pricing in a quicker economic rebound. In stocks, a selloff among tech giants like Apple and Amazon overshadowed gains in banks and energy producers. The S&P 500 extended its slide into a second day and the Nasdaq 100 slumped to a two-month low. Here is your markets wrap.

U.S. President Joe Biden agreed to moderate Democratic demands to narrow eligibility for Covid bailout checks, but party leaders in the Senate are resisting a push to trim extra unemployment benefits as they try to consolidate support for the administration’s $1.9 trillion pandemic-relief bill.

And now for a word from Brexit. Not even a pandemic can stop the rupture from causing new trouble. The European Union said it will take legal action against the U.K. for breaching their deal over the breakup, as tensions between the two sides escalate over Northern Ireland.

Larne Port in Northern Ireland. Trade across the Irish Sea has been one of the most contentious features of Britain’s post-Brexit relationship with the European Union.

Photographer: Paul Faith/Bloomberg

An online merchant spent $200,000 in legal fees fighting Amazon after it booted him from the shopping platform and seized his inventory. After an 18-month fight, this is what he had to show for it.

Supreme Court arguments in a major voting rights case March 2 foreshadow the likely future of U.S. election law, Noah Feldman writes in Bloomberg Opinion. The continuing withdrawal of the court from the role of policing elections for racial fairness seems inevitable. This comes as Republicans still smarting over Biden’s defeat of Donald Trump move to make it harder for millions of Americans to exercise their right to vote.

In much of the global economy, the big question is when it will be safe to go back to pre-pandemic patterns of spending. For business travelers, it’s more like: Who will want to? Zoom is coming for the airlines.

Lilium, a German startup that’s making an all-electric vertical takeoff and landing passenger jet, is in talks to go public through a merger with Qell Acquisition, a special purpose acquisition company.

The Lilium Jet

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Green

Robert Downey Jr., Bill Gates Bet On a Startup

As much as half of the world’s electricity is consumed by motors. They power everything from fans to electric cars and pumps to industrial machinery. Making them more efficient could go a long way in reducing emissions of planet-warming greenhouse gases. That’s the promise of a California-based startup that has attracted investors including a father of modern computer technology and, well, Iron Man.

Bill Gates and Robert Downey, Jr.

Source: Getty Images

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