Global stocks weaken amid a delay in the economic rebound caused by the rising number of infections

08:53, 13 November 2020

COVID-19 vaccine hype is starting to wear off - Thursday Review, November 12

The global markets focused on the ever-rising number of COVID-19 infections

The US

The rising number of COVID-19 infections made multiple states reimpose lockdowns and also caused the markets to end in the red. USA30 fell 1.1%, while USA500 traded 1.01% lower. TECH100 dropped 0.65%.

Crude oil settled down 0.8% at $41.12 per barrel, while Brent slipped 0.6% to $43.53.

Gold went up 0.2% reaching $1,865.05 per ounce.

Asia and Australia

HongKong45 lost 0.43% even after one of the largest Asian companies – Tencent posted higher-than-expected quarterly figures, its stock price surging after the announcement.

Japan225shed 0.53%.

Down under, Australia200 fell 0.54%.

Europe

Germany30 and France40 each lost 0.7%. UK100 went down 0.8%. The decrease came after the European Central Bank President Christine Lagarde cautioned that the world expects too much too soon from a COVID-19 vaccine.

EUR/USD traded at 1.1787.

Sources: cnbc.com, investing.com

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