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| - European stock markets recovered early losses Thursday, one day after a brutal selloff, but investors remain anxious over a sharp rise in coronavirus infections in the United States and elsewhere. Oil extended slightly Wednesday's five-percent tumble as increasing infections stoke 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. 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. Elsewhere, Australia's military announced it would send 1,000 troops to Melbourne to help contain an outbreak amid fears of a second wave. In Europe, around 640,000 people in two German districts were facing new containment measures after an outbreak at a slaughterhouse. Experts warn that an early summer heatwave across Europe could lead to a surge in infections as people hit beaches and parks while ignoring social distancing measures. The devastation wrought by lockdowns was laid bare Wednesday by the IMF, which said the crisis would shrink the global economy by 4.9 percent this year and wipe out a mind-boggling $12 trillion over two years. Adding to the uncertainty was news that the US is considering fresh tariffs on $3.1 billion in European imports as part of a dispute over subsidies to plane manufacturer Airbus. That came just days after the European Union indicated it plans to press ahead with a digital tax that would primarily hit US tech firms. US trade officials listed products from France, Germany, Spain and Britain, ranging from olives to decaffeinated coffee, as possibly subject to the new levies. London - FTSE 100: UP 0.2 percent at 6,138.29 points Frankfurt - DAX 30: UP 1.0 percent at 12,208.26 Paris - CAC 40: UP 0.5 percent at 4,895.94 Madrid - IBEX 35: UP 0.6 percent at 7,236 Milan - FTSE Mib: UP 0.5 percent at 19,262.03 EURO STOXX 50: UP 0.6 percent at 3,214.13 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 New York - Dow: DOWN 2.7 percent at 25,445.94 (close) West Texas Intermediate: DOWN 0.4 percent at $37.87 per barrel Brent North Sea crude: DOWN 0.1 percent at $40.28 per barrel Euro/dollar: DOWN at $1.1238 from $1.1251 at 2100 GMT Dollar/yen: UP at 107.18 yen from 107.04 yen Pound/dollar: UP at $1.2444 from $1.2419 Euro/pound: DOWN at 90.29 pence from 90.59 pence dan-rfj/bcp/bmm
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