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Reside updates for Coronavirus: The Brazilian Bolsonaro was examined after feeling uncomfortable. Novavax receives US funds for vaccines

Dow drops 200 points as travel stocks decrease

The stocks opened lower, led by stocks that would benefit directly from an economic recovery, report Fred Imbert and Yun Li from CNBC. The Dow Jones Industrial Average was down 200 points or 0.8%. The S&P 500 fell 0.6% and the Nasdaq Composite 0.3%. – Warner melody

Regeneron signs a $ 450 million contract with the U.S. government for coronavirus therapy

Brazilian Bolsonaro tested on Covid-19 after feeling uncomfortable

Brazilian President Jair Bolsonaro appears on the ramp of the Planalto Palace to wave his supporters amid the Coronavirus Pandemic (COVID-19) on May 15, 2020 at the Planalto Palace in Brasilia.

Andressa Anholete | Getty Images

Brazilian President Jair Bolsonaro was tested for the corona virus shortly after the Presidential Palace confirmed to NBC News that he had felt uncomfortable and had high temperatures.

A subsidiary of CNN in Brazil had reported that the right-hand guide tested positive for the virus, but this has not been verified or officially confirmed by CNBC.

The results of Bolsonaro's test for Covid-19 are expected around 11 a.m.CET. – Sam Meredith

Novavax joins Operation Warp Speed

Biotech company Novavax announced that it had received $ 1.6 billion from the US government to accelerate the late development and manufacture of its coronavirus vaccine candidate, Reuters reported.

It is the largest investment Operation Warp Speed ​​has made to accelerate the Trump administration's efforts to accelerate the development and production of drugs and vaccines to fight the virus. Novavax stock rose more than 35% in the news in premarket trading.

Through Operation Warp Speed, the federal government has also invested in Johnson & Johnson's vaccine candidates, the potential vaccine from Moderna and AstraZeneca, which is being developed in cooperation with Oxford University.

Novavax said the award will help fund the Phase 3 trial, which is expected to start in the fall, and help prepare 100 million doses for distribution by the end of the year if the potential vaccine is safe in humans and proves effective. – Want fire

Read CNBC's previous live coverage of coronaviruses here: Australia closes the international border; California is asking indoor businesses to close

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