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Global markets lost momentum over the ever-rising number of COVID-19 infections - Tuesday Review, October 27

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Miguel A. Rodriguez
Miguel A. Rodriguez
28 October 2020
The markets extended loses as the virus continued to wreak havoc

The US

The markets switched their focus from the stimulus package to the rising number of COVID-19 infections. As of yesterday, the States have reported more than 8.7 million infections. USA30 lost 0.80%, while USA500 closed 0.30% lower. TECH100 went up 0.64%.

Brent Oil gained 0.87% at $40.81 per barrel. Crude was up 0.78% at $38.86.

Gold added 0.32% to $1,907.64 an ounce.

 

Asia and Australia

The benchmarks fell as investors were fearful of the ever-rising number of COVID-19 infections. Japan225 dropped 0.11%.

HongKong45 slid 0.76%.

Down under, Australia200 closed down 1.7%, marking its worst session in a month.

USD/JPY lost 0.03% to 104.78.

 

Europe

Europe50 and Germany30 each fell 0.9%. France40 slipped 1.6%, reaching a one-month low.

The drops came as the markets are worried about a new economic fallout. In Germany, Chancellor Angela Merkel announced a potential “lockdown light” of bars and restaurants.

Sources: marketwatch.com, reuters.com, investing.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.