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| - European stock markets made modest gains Thursday, one day after a brutal selloff, while Wall Street fell further as job losses and coronavirus infections mounted in the United States. Oil extended slightly Wednesday's five percent tumble as increasing infections stoked demand worries just as the latest data showed a big jump in US stockpiles for a third week. Asia extended losses after heavy overnight falls on Wall Street, amid holiday closures in Hong Kong and Shanghai. There were hefty losses in New York and across Europe on Wednesday on heightened fears of a second wave of the deadly COVID-19 outbreak. "After Wednesday's big drop, the key development to watch today is whether there will be any further downside follow-through for stocks," said ThinkMarkets analyst Fawad Razaqzada. "Every dip has so far been bought. Will this be another such occasion, despite rising concerns over virus resurgence and resistance? Or are we finally going to see a sizeable correction this time?" Razaqzada asked. Concerns about a possible trade battle between Washington and Europe added to the downbeat mood, with a warning from the International Monetary Fund over the global outlook also souring sentiment. A three-month surge across world markets, supported by the easing of lockdown measures and a wall of government cash, is showing signs of stalling as the virus sees a resurgence and raises questions about the pace of reopening. A key worry is the US, where dozens of states including Texas, Florida and Arizona have seen infections spike in recent days. Some US officials who loosened restrictions on business, dining, public gatherings and tourism are now urging residents to again stay home. "Coronavirus concerns continue to apply indirect selling pressure through reports highlighting the possibility of more states/businesses pausing reopening efforts and/or re-thinking enforcement approaches to keep the spread of coronavirus contained," said market analyst Patrick J. O'Hare at Briefing.com. Disneyland, near Los Angeles, delayed its planned July 17 reopening without announcing a new date for the world's second-most visited theme park, while Apple and Nike have closed stores that had only recently reopened. The issue has become serious enough for New York, Connecticut and New Jersey to announce they will impose a 14-day quarantine on people arriving from areas with high infection rates. Meanwhile, the latest US jobless data provided little cause for joy. Another 1.48 million Americans filed new claims for unemployment benefits last week, the Labor Department said Thursday, a worse-than-expected figure that showed the continuing potency of the coronavirus pandemic. The new claims were a decrease of only 60,000 from the week prior and brought the total since the business shutdowns began in mid-March to more than 47.2 million. "The disappointment in jobless claims underscored concerns the world's largest economy will take a long time to recover," said ThinkMarkets' Razaqzada. London - FTSE 100: UP 0.1 percent at 6,131.11 points Frankfurt - DAX 30: UP 0.5 percent at 12,150.40 Paris - CAC 40: UP 0.6 percent at 4,897.99 Madrid - IBEX 35: UP 0.4 percent at 7,220.90 Milan - FTSE Mib: UP 0.2 percent at 19,204.90 EURO STOXX 50: UP 0.4 percent at 3,208.30 New York - Dow: DOWN 0.3 percent at 25,365.22 Tokyo - Nikkei 225: DOWN 1.2 percent at 22,259.79 (close) Hong Kong - Hang Seng: Closed for public holiday Shanghai - Composite: Closed for public holiday West Texas Intermediate: DOWN 0.6 percent at $37.77 per barrel Brent North Sea crude: DOWN 0.1 percent at $40.21 per barrel Euro/dollar: DOWN at $1.12 from $1.1251 at 2100 GMT Dollar/yen: UP at 107. yen from 107.04 yen Pound/dollar: UP at $1.24 from $1.2419 Euro/pound: DOWN at 90. pence from 90.59 pence dan-rfj/rl/gd
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