LONDON/HONG KONG : Stocks and emerging markets currencies edged down on Friday and oil headed for its biggest weekly loss since March, as nervousness over the spread of the COVID-19 Delta variant hit risk assets and crimped demand.
The Thai baht led losses among emerging markets currencies, emblematic of how a surge in coronavirus infections and deaths in some countries around the world is hitting confidence in their currencies and economies. U.S. stock futures, the S&P 500 e-minis, were down 0.05per cent on Friday after the S&P 500 closed at record levels the day before after a spate of strong corporate earnings and a further decline in U.S. unemployment claims.
Benchmark 10-year Treasury note yields rose to 1.2432per cent approaching a week high, compared with its U.S. close of 1.217per cent on Thursday.Oil prices rose on Friday but were still set for their biggest weekly loss since October after falls earlier in the week due to rising COVID-19 cases and a surprise build in U.S. crude stockpiles.