Oil prices fell to end the week little changed and the dollar index posted its largest weekly drop in five weeks. — Reuters pic
Technology stocks weighed the most on the S&P 500, with IBM and Intel posting 10 per cent and 9 per cent declines, respectively, after underwhelming earnings.With stock valuations nearing levels not seen in two decades, some market participants said new Covid-19 variants and hiccups in vaccine rollouts pose near-term risks for equities.
The pan-European STOXX 600 index lost 0.57 per cent yesterday after a survey showed economic activity in the euro zone shrank markedly in January, with the services sector weighed by lockdown restrictions to contain the coronavirus pandemic.Emerging market stocks lost 0.94 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.85 per cent lower, while Nikkei futures lost 0.23 per cent.
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