Stock rally stalls as focus turns to fresh Covid-19 outbreaks
The sharp rally in global stocks stalled on Tuesday, as traders weighed signs of economic recovery with new flare-ups in coronavirus cases in several parts of the world. European markets slipped in morning trading, with the continent-wide Stoxx 600 index falling 1.1 per cent from around one-month highs. London’s FTSE 100 was down 1.3 per cent while futures trade tipped Wall Street’s S&P 500 to open 0.9 per cent lower. Hopes for a rapid recovery in Europe were dented after the European Commission slashed its growth forecasts for the region’s economy this year after noting that the lifting of lockdown...
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