Asian shares tumbled on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted
LONDON - Europe’s share markets, bond yields and the euro all inched higher on Tuesday, as mildly reassuring signals from China’s economy helped limit worries about a potential second wave of coronavirus infections.
London’s FTSE, Frankfurt’s DAX and Milan and Madrid clawed higher early on, but France’s CAC40 and Wall Street S&P 500 futures were stuck in the red after Asia had struggled overnight too. But there was the first rise in car sales in 22 months to cheer and China’s foreign ministry also stressed the benefits of the recent Phase 1 U.S. trade deal following a report that some officials were reconsidering the agreement.
Late on Monday, the Fed said it would start purchasing shares of exchange-traded funds that invest in bonds, though policymakers also downplayed the likelihood of its interest rates being cut into negative territory. Brent crude futures climbed to a high of $30.11 a barrel and were up 0.2%, or 6 cents, at $29.69, reversing some of the previous session’s losses. The benchmark fell $1.34 on Monday.
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