GLOBAL MARKETS – Asian markets under pressure as Wall St weakens, COVID-19 cases rise

0
35


NEW YORK, Oct. 19 (Reuters) – Asian stocks came under pressure on Tuesday as the deadline for US lawmakers to pass an economic stimulus bill approached and Europe’s record for daily coronavirus infections came under pressure. raised concerns about more severe lockdowns.

At the start of Asian trade, Australian stocks plunged on the open while the gauge of MSCI stocks across the world fell 0.06%.

Chris Weston, head of research at Melbourne-based brokerage Pepperstone, attributed the decline to concerns over Washington’s stimulus package and its positioning ahead of the November 3 presidential election.

“Are you sure you want to maintain these exposures in what could be a volatility event? Weston said. “We are entering the territory of the Far West where it becomes more fiery.”

Japanese Nikkei 225 futures fell 0.4%. Hong Kong Hang Seng Index futures fell 0.59%.

Investors await results later in the week for companies including Netflix Inc and Tesla Inc.

They were also waiting to see if the final debate between US President Donald Trump and his Democratic challenger Joe Biden on Thursday changes the trajectory of the election.

The number of new COVID-19 cases in the United States last week rose 13% to more than 393,000, approaching levels last seen in a summer peak, according to a Reuters analysis.

The Dow Jones Industrial Average fell 1.44%, the S&P 500 fell 1.63% and the Nasdaq Composite fell 1.65%.

The dollar fell slightly on Monday as investors were cautiously optimistic that U.S. lawmakers could agree on a fiscal stimulus package ahead of the election and that a coronavirus vaccine will be ready by the end of the year. ‘year.

The dollar index was down 0.304%, with the euro up 0.02% to $ 1.1768.

Treasury yields slashed earlier increases Monday, while oil prices fell in part because Libya plans to boost production.

LEAVE A REPLY

Please enter your comment!
Please enter your name here