After stock market gains across most of Asia, European indices proceeded to tumble, with Frankfurt’s DAX 30 index leading the way with a loss of more than one percent by early afternoon.
But in a sign of more pain to come, UK unemployment has risen to a near five-year high at 5.1 percent, official data showed Tuesday, and is set to surge further once the government removes its furlough support scheme currently keeping millions of workers in jobs. On the upside, oil prices rose further on higher demand prospects as the world emerges from lockdowns.
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