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Stock markets slide as EU leaders discuss vaccine export ban – as it happened

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The stock markets are a sea of red, amid worries over a third wave of coronavirus infections. EU leaders are meeting virtually to discuss the situation and what they can do to speed up vaccination campaigns. It looks like they will shy away from halting vaccine exports, threatened by European Commission president Ursula von der Leyen earlier this week.

The EUshould redouble its efforts to produce its own doses of Covid vaccines, as it faces continued issues over supply from pharmaceutical companies, German chancellor Angela Merkel said before the meeting.

Related: World's poorest face vaccine delays through Covax programme

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Tui has cut its summer capacity for 2021 despite “increasing interest” and pent-up demand for holidays this year, reports our transport correspondent Gwyn Topham.

Europe’s biggest travel company said the vaccination programmes and government initiatives were leading to “positive booking behaviour”, particularly in Germany and the UK, but admitted that the overall bookings remained at just 2.8m for the summer – more than 4 million fewer than at the same time in 2019.

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