World stocks hit by renewed caution over global economy

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Dollar rebounds to one-week high with investors opting for safer assets amid rising cases of Delta variant of Covid-19

A man watches an electronic ticker tape outside a securities firm in Tokyo, Japan. Picture: BLOOMBERG/SOICHIRO KORIYAMA

Markets are also still assessing data from last week which showed the US economy created the fewest jobs in seven months in August. S&P futures fell 0.34% after the S&P 500 lost 0.34% overnight, but the Nasdaq Composite hit record highs as investors favoured Big Tech stocks, which have performed well during the pandemic.

The dollar hit a one-week high against the euro and against an index of currencies, recovering from recent five-week lows. Australia slipped 0.24%, Hong Kong shed 0.45% and Chinese blue chips dropped 0.41%, also weighed down by recent soft data in the world’s second-biggest economy.

 

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