Safe-haven assets are in demand again as record-setting US coronavirus cases unsettle the markets
London — World stocks and oil prices were faltering on Friday as record-setting new coronavirus cases in several US states led to worries that more lockdowns may be necessary, making a quick economic recovery unlikely.
MSCI’s broadest index of Asia-Pacific shares excluding Japan fell 1.3%. Australian stocks declined by 0.6% as an extension of loan-payment deferrals hit the banking sector. Japanese stocks were down by 1.1%.More than 60,500 new coronavirus infections were reported across the US on Thursday, the largest single-day tally of cases by any country since the virus emerged late last year in China.
In the currency market, the yen rose 0.4% against the dollar and 0.5% compared to the euro. US treasury yields dipped to their lowest levels since late April. On Thursday, the Dow Jones industrial average fell 1.39% and the S&P 500 dropped 0.56%, but the tech-heavy Nasdaq rose 0.53% to its fifth record closing high in six days.
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