World stocks sag on pandemic surge, gold gains on safety bid | Malay Mail

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NEW YORK, Oct 15 — Global stock markets mostly retreated yesterday as a record number of new coronavirus infections in parts of Europe led investors to shift away from risky assets to traditional safe havens such as gold and the Japanese yen. Concerns that a resurgence in the Covid-19 pandemic...

The pan-European STOXX 600 ended barely changed at 370.62, while markets in Frankfurt and Paris were flat and down 0.1 per cent, respectively. — Reuters pic

Pandemic uncertainties were compounded by news on Tuesday of halts to separate trials for a Covid-19 vaccine and a treatment, tempering a brief stock boost from US investment bank Goldman Sachs Group’s strong earnings report. “The fear is we are headed back towards a lockdown, not a re-opening of economies,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

The pan-European STOXX 600 ended barely changed at 370.62, while markets in Frankfurt and Paris were flat and down 0.1 per cent, respectively. London, buffeted in part by Brexit angst, dropped 0.6 per cent. World stocks slipped 0.3 per cent but stayed within sight of the all-time high struck on September 3.

 

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