ASX to drop, global equities retreat
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Australian shares are poised to drop at the open, amid a global retreat in equities amid concerns about renewed COVID-19 infections.
ASX futures tumbled 86 points or 1.2 per cent to 6911 near 7am AEST. The currency slid 0.4 per cent.
The yield on the US 10-year note fell 5 basis points to 1.56 per cent at 4.59pm in New York. Bitcoin was trading near $US56,675 near 7.20am AEST on bitstamp.net.
Wall Street’s main indexes fell for a second straight day as a global spike in coronavirus cases hit travel stocks and investors had second thoughts about big US banks’ apparently stellar earnings last week.
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