Asian Shares, Oil Declined Amid Fear of Overall COVID-19 Risks
Asian Shares and U.S. Stock Futures declined on Wednesday as concern about the renewal of COVID-19 cases in some countries creates an immense tension over the strength of global growth and demand for crude oil.
Euro stoxx 50 futures up 0.28%, Germany’s DAX futures up 0.25% and Britain’s FTSE futures inclined 0.15%
MSCI broadcast index of Asia-Pacific shares outside Japan fell 1.08%.
Australian stocks declined 0.56% while shares in china regain early losses and inclined 0.29% because of productive earnings from the healthcare and banking sectors.
Stocks in Tokyo sunk by 1.95% because of the worrisome situation as the rapid increase of COVID 19 cases’ in Tokyo, Osaka, and surrounding areas will be kept on lockdown.
S&P 500 e-mini stock Futures also declined 0.18%
Downfall in Asian Shares after a gloomy day on Wall Street.
The Dow Jones Industrial Average fell 0.75%. The S&P 500 lost by 0.68% and Nasdaq Composite declined 0.92% on Tuesday as many investors sold airlines and mostly hospitality Firms, consequently due to slow recovery in global tourism.
Many tech shares and companies that gain profit from the lockdown, now could come under pressure after Netflix Inc (NASDAQ: NFLX) reported saddening subscriber growth for its movie streaming service which sent its shares down 11% in after-hours trading.
MSCI’s index of global shares fell 0.3%.
U.S. Crude down 0.69% to $62.24 a barrel with Brent crude declined 0.59% to $66.18 per barrel.