Eli Lilly said enrollment of participants in a clinical trial of its antibody treatment for Covid-19 has been paused due to a potential safety concern. The news followed Johnson & Johnson’s decision to halt clinical trials of its vaccine after a participant fell ill, the second time a major developer has paused testing in the race to create a defense against the coronavirus. Countries across Europe widened restrictions to regain control of the virus as infections in Germany rose at their fastest pace since April. The Netherlands ordered a partial lockdown and France reported a surge in patients needing intensive care. In Italy, new cases jumped to their highest since March. Here is the latest. —David E. Rovella

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Here are today’s top stories

Stocks fell as Wall Street began to figure out that a second coronavirus bailout may be out of reach. Oil rose after data showing a rise in China crude imports signaled strengthening demand. And in Canada, bond buyers and issuers are girding themselves for the repercussions of a long, drawn-out drama over the coming U.S. election.

Markets are turning increasingly skeptical about the chances of a “Democratic sweep” on Nov. 3, one where the party takes full control of Congress and the White House, thus making it more likely a second rescue package is swiftly passed come January. Analysts say they think there’s a good chance the Senate will remain in Republican hands, making new help for millions of unemployed, faltering businesses, cities and states less probable. Such a prospect, they warn, is a recipe for a market downturn and will damage growth through the first quarter. Two of the biggest U.S. banks, however, say the pandemic won’t send the economy into a calamitous slide. Instead, they see a grinding path back to growth.
 

As the U.S. campaign enters the ninth inning, Biden is calling in former President Barack Obama to be his closer. In the meantime, the Democratic candidate took a few swings, saying U.S. President Donald Trump panicked in the face of the coronavirus and had already pushed America into a manufacturing recession before the pandemic arrived. Trump on Tuesday demanded a plan to remove U.S. troops from Somalia while asking the U.S. Supreme Court to block New York prosecutors from accessing his financial records.

Trump’s unprecedented last-minute pick to fill the high court seat held by Ruth Bader Ginsburg refused to say if she would disqualify herself from disputes over the coming election. Trump has previously linked filling the seat to his prediction the high court would ultimately decide the presidency. Amy Coney Barrett also refused to address reproductive rights or the Affordable Care Act, both of which she has opposed. With only eight sitting justices, the current high court gave Trump a victory Tuesday, letting him cut short the Census in what critics allege is a strategy to tilt U.S. political representation for the next decade.

Pilots of an Airbus A320neo jet were forced to shut down a Pratt & Whitney engine in  midair last month, reviving concerns about turbines that have been plagued with problems since their debut.

Singapore’s central bank chief said as much as 20% of the city-state’s economy faces “deep scarring” from the pandemic.

Apple’s iPhone 12 5G, the most anticipated phone in years, will be given away for free by AT&T and Verizon as the carriers gear up for a fight over new subscribers during a potentially huge upgrade cycle.

What you’ll need to know tomorrow

• San Francisco apartments are cratering by as much as 31%.
• Trouble swirling, Citigroup is asked to prove it’s not Wells Fargo.
• BlackRock’s Larry Fink sees a future with half-filled office buildings.
• Ray Dalio says China has time on its side in its battle with U.S.
• Theranos founder Elizabeth Holmes loses bid to avoid criminal trial.
• Bloomberg Opinion: Deflationary trends are growing more powerful.
• Black Friday is so 20th century: Amazon Prime Day steals the show.

What you’ll want to read in Bloomberg Wealth

The Pandemic Real Estate Boom—for the Rich

Demand for U.S. luxury homes is soaring, illustrating just how much wealth disparities have been worsened by the pandemic. High-end sales jumped 42% in the third quarter from a year earlier, the largest jump in seven years. While banks have tightened credit for first-time buyers and hammered Americans who can’t work from home, the wealthy are cashing in on a surging stock market and mortgage rates near record lows.
 

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