Global shares declined on Thursday while bonds and the dollar advanced. Stock markets’ underperformance was mainly from weak U.S. retail sales, inactivity in factory production, and a dire outlook for Asian economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan shed 2.2%, as a Reuters survey showed that majority of investors are not satisfied with the stimulus measures. The Japanese benchmark Nikkei inched down with a 1.3% loss.
The S&P 500 E-Mini futures slipped further with a 0.3% setback. It reached new depths after a 2.2% drop on Wall Street overnight.
U.S. retail sales dropped to a record low in March while factory outputs declined the sharpest in 74 years. These heavy market reversals raised fears that the economy will slide to a recession.
The International Monetary Fund forecasted that the Asian economic growth will diminish down to zero for the first time in six decades. The IMF acknowledged this possibility as exporters suffer from lack of demand and virus restrictions halted business operations.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...