Good morning, we welcome our information on the global economy, financial markets, the eurozone and trade.
The Covit-19 epidemic, which has raised hopes that successful vaccination rolls in 2021 will help the world economy recover, has created a dangerous sensation in markets today.
Wall Street plummeted late last night Dow Jones Industrial Average Over 1% – down 344 points to 29,438.
European stocks have opened very low and investors are worried about how difficult the next few months will be. Stokes 600, Tracking stocks across Europe, down 0.8% at the start of trading, which could be a tense session.
The epidemic continues to increase in the United States; Overnight, Johns Hopkins University reported that more than 250,000 Americans have now died from another serious milestone in the crisis, Govt-19.
Total U.S. infections now number more than 11 million, and more than 76,000 people across the country have been hospitalized with Govt.
In New York, schools are set to be suspended after infection rates reach their highest level since spring.
It has reminded the markets that it is facing months of increasing deaths and economic downturns, which will cause more businesses to collapse and people to lose their jobs.
Jim Reid of Deutsche Bank Explains:
It’s about vaccines and the virus, whether it’s the perspective or the markets. The risk sessions actually slipped late into the US session, and Closed in the short term (S&P 500 -1.16%), mostly New York school closures are back in effect today, with the city’s positive rate rising to more than 3% for the first time Covid-19 tests.
In terms of sectoral moves, every industry group in the United States ended lower than autos (+ 1.14%), while losses were driven by energy (-2.88%) and utilities (-1.94%).
But the global situation is also deteriorating – Japan has recorded the number of new daily corona virus infections, including a new peak in Tokyo, while India is approaching 9m cases.
European stock markets are expected to fall this morning, reaching a multi-month high on Monday
- 8 am GMT: ECP President Christine Lagarde testifies to the EU Committee on Economic and Monetary Affairs
- 11am GMT: CBI Industrial Trends Study on UK Production in October
- 1.30pm GMT: US Weekly Unemployment Statistics