LONDON: World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance minister failed to agree a rescue package to help economies recover from the impact of the outbreak.
The pan-European STOXX 600 index dipped 0.7per cent. London's FTSE 100 fell 0.9per cent, as the country's coronavirus death toll crossed 6,100. Germany's DAX shed 0.8per cent after rallying more than 8per cent in the past two days, as the number of confirmed cases rose for a second straight day. Italian government bond yields rose in response. The 10-year Italian yield rose 20 basis points to 1.799per cent in early European trading, reaching its highest since March 19. Two-year bonds yields were up 22 bps on the day at 0.79per cent, the highest in three weeks.
The Trump administration asked Congress for an additional US$250 billion in emergency economic aid for small U.S. businesses reeling from the pandemic.