Troubling spikes in coronavirus infection rates were reported on Friday in several US states, mainly in the South and West, a day before President Donald Trump was due to preside over an Oklahoma campaign rally that will be America’s largest indoor gathering in months.

Wall Street jitters over a resurgence in Covid-19 cases as states moved to reopen long-stifled commerce and ease social-distancing measures helped drive down major US stock indexes, reversing earlier gains.