(Bloomberg) – US futures fell and European stocks plunged the most in a week as a resurgence of the virus in case worldwide sharpened concern over the pace of economic recovery.
Retailers and stock moves, companies that are enjoying life back to normal after the pandemic – were among the biggest losers in European trading. Oil and copper withdrew, while gold neared $ 1,800 an ounce. The Bloomberg dollar index stabilized.
Market sentiment is turning increasingly negative about the concern that the spread of the coronavirus might force policy makers to slow the pace or the reverse of reopening cases. At the same time, there is the potential for trade tensions to resurface between the European Union and the US
“The epidemics have given markets an unpleasant reminder that the pandemic is far from over and that the economic recovery may be slower than expected,” said Mobeen Tahir, deputy director of research at WisdomTree in London. But the crisis will only get serious “if infection rates rise to alarming and sweeping levels, these bans are enforced again.”
The US is weighing new tariffs on the $ 3.1 billion in exports from France, Germany, Spain and the United Kingdom, The American Trade Representative wants to impose new customs duties on European exports, such as olives, beer, gin and trucks, while increasing customs duties on products, including airplanes, cheese and yogurt, according to published notice late Tuesday evening. The European Union is also debating whether to keep the door closed for travelers from America this summer.
Here are some upcoming events:
The IMF will release new 2020 growth projections on Wednesday. Unemployment insurance, durable goods and GDP data claims are due on Thursday. Rebalancing of the Russell indices is due on Friday.
These are the main movements on the markets:
Futures on the S&P 500 Index fell 0.7% as of 7:26 a.m. New York time.Nasdaq 100 Index Futures fell 0.4% .The Stoxx Europe Index 600 was down 1.5%. The MSCI Emerging Market Index has changed little.
The Bloomberg Spot Dollar Index rose 0.1% .The euro fell 0.1% to $ 1.13. The British pound plunged 0.1% to $ 1.2511. The Japanese yen was little changed at 106.53 per dollar. -Zealand dollar fell 0.9% to $ 0.643.
The 10-year yield on Treasuries advanced by 0.72% basis point. The two-year yield on Treasuries advances by 0.19% basis point. From Germany at 10 years yield increased from a base point to -0.40%. Great Britain 10 years, the yield increased by a base point to 0.225%.
Brent crude fell 2% to $ 41.76 a barrel, strengthened 0.3% to 1,774.44 an ounce. Iron ore jumped 2.2% to $ 101.51 per metric ton.
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