Stocks are opening sharply lower on Wall Street as investors turn jittery again in the face of rising numbers of coronavirus infections in many U.S. states and countries.
A currency trader walks by a screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room in Seoul, South Korea, Thursday, June 11, 2020. Asian shares were mostly lower Thursday, with Tokyo dropping more than 1% as the Japanese yen gained after the Federal Reserve said it would keep interest rates low through 2022.
Globally, India reported a record number of nearly 10,000 new coronavirus cases over the past 24 hours with health services in the worst-hit cities of Mumbai, New Delhi and Chennai becoming swamped by the rising infections. In Europe, France’s CAC 40 was 2.6% lower at 4,923 and Germany’s DAX dropped 2.6% to 12,203. Britain’s FTSE 100 fell 2.4% to 6,179.
The outlook for a recovery from the worst downturn in decades is uncertain as states and countries push ahead with reopenings from pandemic shutdowns.Brazil, Mexico, South Africa, India and Pakistan are among countries easing tight restrictions before their first outbreaks have peaked and before establishing detailed surveillance and testing systems to keep the virus under control.
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