Global Markets in Steep Retreat Tuesday
Posted: Tue Jul 07, 2020 6:10 amA surge of new COVID-19 cases around the world sent global markets into a slump Tuesday.
The FTSE in London is down 1.2%, the CAC-40 in Paris is one percent lower, and the DAX index in Frankfurt is down 1.1%.
Asian markets also took a mostly negative turn Tuesday, with the benchmark Nikkei index in Tokyo ending the day’s trading down 0.4%. The Hang Seng in Hong Kong dropped 1.3%, while the Shanghai Composite was finished 0.3% higher.
The S&P/ASX index in Sydney was virtually unchanged percentage wise. Seoul’s KOSPI index was down one percent and the TSEC index in Taiwan was 0.2% lower, while the Sensex in Mumbai closed out its trading session 0.5% higher.
Oil markets continue their downward path Tuesday. U.S. crude oil was trading at $40.24 per barrel, down 0.9%, while Brent crude was trading at $42.78 per barrel, down 0.7%.
All three major U.S. indexes are trending downward in futures trading, an indication that Wall Street will begin the day on a sour note.