Daily Archive: June 12, 2020

Asia stocks slide as coronavirus fears return By Reuters

© Reuters. Visitors look at a stock quotation board at Tokyo Stock Exchange in Tokyo

By Stanley White

TOKYO (Reuters) – Asian shares fell sharply on Friday and oil prices extended losses on growing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns, or even lead to fresh restrictions.

MSCI (NYSE:)’s broadest index of Asia-Pacific shares outside Japan slid 1.52%, after a strong run-up in recent weeks. Australian stocks dropped 1.89%, while shares in China fell 0.45%.

U.S. stock futures, the S&P 500 e-minis, rose 1.2% in Asian time on Friday after tumbling overnight, but that did little to help sentiment.

Oil futures slumped for a second consecutive trading session due to worries about weak global energy demand, which weighed on commodity currencies and boosted the safe-haven dollar.

The headed for its biggest daily decline in two weeks, underscoring investors’ risk-averse

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Dow down 1,800 points — stocks tank on grim Fed and fears of ‘second wave’

U.S. stocks tumbled the most in 12 weeks as the torrid surge in equities came to a screeching halt amid economic jitters. Treasuries surged with the dollar.

The S&P 500 sank almost 6 per cent — approaching the 7 per cent threshold that would trigger an exchange-mandated trading pause. Only one company in the gauge — supermarket operator Kroger Co. — finished higher. Losses in the Dow Jones Industrial Average were even deeper, with the blue-chip gauge dropping as much as 7.1 per cent. Airlines, cruise and travel shares that soared in recent weeks bore the brunt of the selling. The KBW Bank Index of financial heavyweights plunged 9%, and energy shares joined a rout in oil.

The Dow Jones Industrial Average fell 1,861.82 points, or 6.9 per cent, to 25,128.17. The S&P 500 lost 188.04 points, or 5.89 per cent, to 3,002.1 and the Nasdaq Composite dropped 527.62 points,

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Dow Jones today: Stocks fall sharply, posting worst day in 12 weeks

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