Stocks drop as virus woes offset economic data - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
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Treasuries advanced. 08:25
Image: Takashi Aoyama/Getty Images
Most Asian stocks gained after US equities rallied as investors focused on the outlook for earnings amid an economic revival. Treasuries advanced.
Japan outperformed, while Hong Kong and Australia had more modest gains. US futures edged lower, while European futures rose. Treasury yields fell, with the 10-year dropping below its 50-day moving average for the first time since November. The dollar was steady. Oil added to losses with an increase in US crude inventories compounding concerns around a choppy global demand recovery.
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Gold declines amid stronger-than-expected U S jobs report bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Stocks Drop on Fresh Virus Concerns; Yields Steady: Markets Wrap
Bloomberg 1 hr ago Andreea Papuc
(Bloomberg) Stocks tumbled in Asia Wednesday as rising virus cases around the world led to renewed concern about their economic impact. Bonds were stable after gaining.
Japan and Hong Kong shares led a drop across the region. U.S. contracts dipped, with Nasdaq 100 futures underperforming. Earlier, the S&P 500 fell for a second day extending its slide from an all-time high, with investors showing caution ahead of the brunt of the earnings season. Treasuries held a rally that sent the 10-year yield to its lowest level in more than five weeks. The dollar stabilized and the yen climbed. Oil prices retreated.