LONDON: World stocks reversed earlier losses and the dollar slid on Monday as investors shrugged off worries that rising coronavirus infections in parts of Europe and the United States over the weekend could scupper a quick economic rebound.
Germany's coronavirus reproduction rate jumped to 2.88 on Sunday from 1.06 on Friday, health authorities said. The spike in infections was mainly related to local outbreaks including in North Rhine-Westphalia. In further evidence that United States was far from returning to normal, Apple said on Friday that it would temporarily shut 11 U.S. stores as coronavirus cases rose in some states.
However, credit rating agency Moody's warned that the stimulus measures will leave advanced economies with much higher debt than they accumulated during the last financial crisis.