MEDICINE

Fears that any tentative green shoots in the global economy could be trampled by a deadly outbreak of swine flu put markets on edge on Monday, after world policymakers said over the weekend that a recovery could begin later this year but plenty of downside risk remained.

World stocks tumbled on Monday, after seven weeks of gains, and oil and the euro fell as concerns intensified the spread of swine flu, which has killed more than 100 people in Mexico, would hit the global economy.

Asian stocks fell about 2 percent on Monday as the outbreak of swine flu in North America hurt shares of airlines while prompting some market players to trim risky positions, hitting currencies such as the Australian dollar.

Oil prices fell over 2 percent toward $50 a barrel on Monday, paring some of the previous session's near 4 percent gain on fears of a global flu pandemic that could give the world economy another knock.

Fears of a global swine flu pandemic grew with new infections in the United States and Canada on Sunday, and millions of Mexicans

The Swine flu that hit Mexico has now hit the U.S. and there are more than 20 reported cases.

Oil prices fell over 2 percent toward $50 a barrel on Monday, paring some of the previous session's near 4 percent gain, on fears of a global flu pandemic after an outbreak of swine flu in Mexico.

Corrects first paragraph to clarify that the disease is not yet a pandemic and market is moving on fears of it reaching pandemic proportions

Oil prices fell over 2 percent toward $50 a barrel on Monday, paring some of the previous session's near 4 percent gain, on fears of a global flu pandemic after an outbreak of swine flu in Mexico.

Oil prices retreated below $51 a barrel on Monday, giving back some of the previous session's near 4 percent gain, on risk aversion following a deadly swine flu pandemic emerging from Mexico.

The Swine Flu virus is a virus that has brought with it a lot of confusion and even scientists are unsure of its exact origin.

A strain of swine flu found in eight people in California and Texas has been linked to the deadly flu that has killed as many as 60 people and left 900 sick in Mexico.

A deadly strain of swine flu never seen before has killed as many as 61 people in Mexico and has spread into the United States, where several people were reported ill.

A deadly swine flu never seen before has broken out in Mexico, killing at least 16 people and raising fears of a possible pandemic. World Health Organization officials said the flu has killed about 60 Mexicans.

Seven people have been diagnosed with a new kind of swine flu in California and Texas, the U.S. Centers for Disease Control and Prevention reported on Thursday.

The World Health Organization (WHO) voiced concern on Friday at a confirmed outbreak of swine flu in the United States and what it called more than 800 human influenza-like cases in Mexico, including about 60 deaths.

Mexico is canceling classes for millions of children in the heart of the country on Friday after influenza killed around 20 people in recent weeks.

Roche Acquired drug Avastin fails cancer study, shares fall Shares of Roche Holding’s were slammed Tuesday after its acquired Genentech Avastin drug for cancer failed study in an effort to lower the risk of the colon- cancer.

The pregnancy was unexpected, and for one 32-year-old single mother in Syracuse, New York, the ailing economy became a factor in her decision to have an abortion.

Gilead Sciences Inc said on Tuesday first-quarter profit rose 21 percent, topping analysts' expectations, on increased sales of its drugs to treat the virus that causes AIDS.

Cancer drug Avastin -- a key Genentech asset now wholly owned by Roche Holding AG -- has failed in a major study to prevent the recurrence of colon cancer in patients who have undergone surgery.