With more than 1 million people now infected around the world and countries extending national lockdowns, economists expect euro area real GDP to shrink as much as 43 per cent in the second quarter.
Energy stocks dragged on the Stoxx 600, relinquishing most of their gains from Thursday after a record spike in oil prices on hopes that Saudi Arabia and Russia would end their price war. The bump in prices, along with extremely low stock valuations in the sector, saw energy stocks outperforming other sectors for the week with a 9 per cent gain.
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US: Stocks open lower after bruising jobs data[NEW YORK] Wall Street stocks fell in early trading Friday after the government reported the US lost 701,000 jobs in March as businesses shuttered due to the novel coronavirus outbreak. Read more at The Business Times.
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Tokyo: Stocks open lower after Wall St rout[TOKYO] Tokyo stocks opened lower Thursday following a rout on Wall Street, with investor sentiment weighed down by ongoing virus concerns in Japan, which is seeing a steady rise in cases. Read more at The Business Times.
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US: Stocks sink after massive jump in jobless claims[NEW YORK] Wall Street stocks slipped lower in volatile trading early Thursday, absorbing another eye-popping unemployment figure due to the government-ordered shutdown of businesses to contain the coronavirus outbreak. Read more at The Business Times.
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Hong Kong: Stocks begin Thursday with losses[HONG KONG] Hong Kong stocks sank at the start of trade Thursday following a steep drop on Wall Street as worries over the rapid spread of the coronavirus played on investors' minds, overshadowing the huge stimulus measures put in place around the world. Read more at The Business Times.
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