(Bloomberg) – US stocks fell over the weekend as renewed concern that the coronavirus would slow global growth would overshadow new signs of a solid job market. The treasures have jumped.
The S&P 500 index interrupted a four-day rally, but still had its best week since June. The latest employment report showed that hiring has remained robust over the past month, boosting optimism, growth may persist. But stocks remained lower after reports of new infections, increased deaths and more quarantines.
The Federal Reserve has warned that the epidemic poses a “new risk” to the economy. The spinoffs for businesses are starting to be felt, with companies like Toyota Motor Corp. and Honda Motor Co. temporarily ceasing operations in China. Apple Inc. iPhone maker Foxconn has told employees not to return to work when the extended break in China ends on Monday.
The 10-year Treasury yield fell below 1.6% and crude oil lost its grip on $ 51 per barrel.
“The market has grown so rapidly in the past few days and I think we have highlighted the continuing risk associated with the coronavirus,” said Robin Anderson, senior global economist at Principal Global Investors. “There are still many unknowns.”
The Australian dollar fell to its lowest level in a decade, as the fallout from the coronavirus affected the riskiest assets. Stocks fell in most of Asia, while news of new infections on a cruise ship off Japan reminded that cases were on the rise. Singapore increased its response to the disease to the second highest level, the same for the SARS epidemic. The number of confirmed cases worldwide now stands at 31,432, more than 3,000 in one day, while the death toll has reached 638.
Meanwhile, the Chinese and US presidents reaffirmed their commitment to implementing a phase 1 trade deal in a phone call on Friday.
And these are the main movements in the markets:
Stocks
The S&P 500 index fell 0.5% at 4 p.m. New York Time. The Nasdaq 100 fell 0.5%. The Stoxx Europe 600 index fell 0.3%. The MSCI AC Asia Pacific index fell 0.7%.
Currencies
The Bloomberg Dollar Spot index gained 0.2%, the British pound fell 0.3% to $ 1.289, the euro fell 0.3% to $ 1.0946 and the Japanese yen appreciated 0.2% to 109.77 per dollar.
Obligations
The 10-year Treasury bill yield fell seven basis points to 1.57%, while the two-year rate fell to 1.4%. Britain’s 10-year yield fell from a basis point to 0.57%. .
Raw materials
West Texas Intermediate crude oil fell 1% to $ 50.42 a barrel. Gold futures added 0.3% to $ 1,574.20 an ounce. Copper fell 1.7% to $ 2.55 a pound.
– With the help of Adam Haigh, Cormac Mullen, Constantine Courcoulas and Todd White.
To contact journalists on this story: Claire Ballentine in New York at [email protected]; Vildana Hajric in New York at [email protected]
To contact the editors responsible for this story: Sam Potter at [email protected] ,; Jeremy Herron at [email protected], Brendan Walsh
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© 2020 Bloomberg L.P.
(Bloomberg) – US stocks fell over the weekend as renewed concern that the coronavirus would slow global growth would overshadow new signs of a solid job market. The treasures have jumped.
The S&P 500 index interrupted a four-day rally, but still had its best week since June. The latest employment report showed that hiring has remained robust over the past month, boosting optimism, growth may persist. But stocks remained lower after reports of new infections, increased deaths and more quarantines.
The Federal Reserve has warned that the epidemic poses a “new risk” to the economy. The spinoffs for businesses are starting to be felt, with companies like Toyota Motor Corp. and Honda Motor Co. temporarily ceasing operations in China. Apple Inc. iPhone maker Foxconn has told employees not to return to work when the extended break in China ends on Monday.
The 10-year Treasury yield fell below 1.6% and crude oil lost its grip on $ 51 per barrel.
“The market has grown so rapidly in the past few days and I think we have highlighted the continuing risk associated with the coronavirus,” said Robin Anderson, senior global economist at Principal Global Investors. “There are still many unknowns.”
The Australian dollar fell to its lowest level in a decade, as the fallout from the coronavirus affected the riskiest assets. Stocks fell in most of Asia, while news of new infections on a cruise ship off Japan reminded that cases were on the rise. Singapore increased its response to the disease to the second highest level, the same for the SARS epidemic. The number of confirmed cases worldwide now stands at 31,432, more than 3,000 in one day, while the death toll has reached 638.
Meanwhile, the Chinese and US presidents reaffirmed their commitment to implementing a phase 1 trade deal in a phone call on Friday.
And these are the main movements in the markets:
Stocks
The S&P 500 index fell 0.5% at 4 p.m. New York Time. The Nasdaq 100 fell 0.5%. The Stoxx Europe 600 index fell 0.3%. The MSCI AC Asia Pacific index fell 0.7%.
Currencies
The Bloomberg Dollar Spot index gained 0.2%, the British pound fell 0.3% to $ 1.289, the euro fell 0.3% to $ 1.0946 and the Japanese yen appreciated 0.2% to 109.77 per dollar.
Obligations
The 10-year Treasury bill yield fell seven basis points to 1.57%, while the two-year rate fell to 1.4%. Britain’s 10-year yield fell from a basis point to 0.57%. .
Raw materials
West Texas Intermediate crude oil fell 1% to $ 50.42 a barrel. Gold futures added 0.3% to $ 1,574.20 an ounce. Copper fell 1.7% to $ 2.55 a pound.
– With the help of Adam Haigh, Cormac Mullen, Constantine Courcoulas and Todd White.
To contact journalists on this story: Claire Ballentine in New York at [email protected]; Vildana Hajric in New York at [email protected]
To contact the editors responsible for this story: Sam Potter at [email protected] ,; Jeremy Herron at [email protected], Brendan Walsh
bloomberg.com“data-reactid =” 42 “> For more articles like this, visit us on bloomberg.com
Subscribe now to stay one step ahead of the most trusted source of business information. “data-reactid =” 43 “> Subscribe now to stay ahead with the most trusted source of business information.
© 2020 Bloomberg L.P.