London — European stocks and US stock futures fell on Friday and the safe-haven dollar looked set for a weekly gain as a Wall Street battle between hedge funds and retail investors, and a row in Europe over Covid-19 vaccine supply, cooled risk appetite.
“The GameStop saga will end, leaving a sour taste in policymakers’ mouths,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “The story could be a trigger for action that could [make] governments and central banks revise their ultra-loose policies that throw liquidity in the middle, and not towards a reasonable target.”
S&P 500 futures fell 1.5% and Nasdaq 100 futures fell 1.8%, more than reversing gains made on Thursday as the earnings season got off to a strong start. Britain’s former vaccine chief Kate Bingham said on Friday she did not believe the EU would block exports. The dollar rose to a seven-week high against the yen, and gained 0.2% against an index of currencies, bringing its weekly rise to 0.6%. The euro fell 0.12% and the pound dropped 0.3%.World stocks fell 0.5% towards three-week lows set in the previous session.
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