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On July 8, 2021, a general view of Tokyo’s National Stadium, the major venue for the Tokyo 2020 Olympic and Paralympic Games.
Getty Images/AFP/AFP/AFP/AFP/AFP/AFP/AFP/AFP
On Thursday, global stocks fell as the bond rally continued, owing to concerns about how the economy will perform next year without as much fiscal and monetary assistance, as well as the persistent coronavirus, which is dampening reopening expectations. Futures in the stock market
The Dow Jones Industrial Average is a stock market index that measures how well
The Dow Jones Industrial Average dropped 436 points, or 1.3 percent, while the S&
S&P 500 Index
The price of futures fell by 1.2 percent, while
The Nasdaq Composite Index
After both closing at record highs on Wednesday, futures fell 1.3 percent. The yield on the 10-year US Treasury note fell 0.06 percentage point to 1.261 percent.
“While stocks have been on a tear, hitting all-time highs last month, the market atmosphere is beginning to sour,” writes Sophie Griffiths of Oanda.
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The
225 Nikkei
In Tokyo, stocks fell 0.9 percent as investors digested the news that the Olympics will most likely be held without spectators owing to the spread of the coronavirus, which has prompted Japan to announce a fresh state of emergency until late August. The
Seng Hang
Stocks in the technology sector, such as Apple, have lost approximately 3% of their value.
Alibaba
and
Tencent
In the face of China’s tightening regulatory regime, investors are receding. However, the drop was widespread across all major markets. After closing Wednesday at its second-highest level ever, the Stoxx Europe 600 index plummeted more than 1%. “The relative performance of industries that profit from the reopening of the economy, like as airlines and hotels, reflects market worry about the virus. Even though the global markets increased yesterday, those fell,” said Marshall Gittler, head of investment research at BDSwiss Holding.
It was the first chance for international investors to react to the new minutes from the Federal Open Market Committee in the United States, which revealed a split on whether to reduce the rate of bond purchases. That wasn’t surprising, given how officials have been voicing their opposing viewpoints in public. “Overall, the Fed is having difficulty reaching a consensus on the asset purchase program’s direction,” said Tim Duy, chief US economist at SGH Macro Advisors. In the meantime, the European Central Bank is scheduled to release the conclusions of its policy review, in which the bank is expected to shift from targeting inflation below but near to 2% to a symmetrical 2% target, in line with other central banks. The announcement will take place at 1 p.m. local time, or 7 a.m. Eastern, and will be followed by a press conference with European Central Bank President Christine Lagarde./n
