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Global stocks succumb to shutdown fears but China charges on | Malay Mail

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NEW YORK, July 10 ― Equity markets slid yesterday after US data raised worries about the economy's recovery and doused enthusiasm that drove a Chinese stock rally for an eighth straight day, while the dollar rebounded as new coronavirus cases hit another record. The dollar had struggled early in...

The MSCI world equity index, which tracks shares in 49 nations, retreated after early gains. — Reuters pic

Rising coronavirus cases and slower improvement in the US jobs market amounted to a one-two punch for investors. In Europe, stocks pared gains to close lower. Europe's broad FTSEurofirst 300 index dropped 0.78 per cent. “Covid-19 cases continue to increase in the US and traders wonder when they will see an end of this, when the trend will change,” said Louise Dickson, oil markets analyst at Rystad Energy.

 

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