World Shares Slip On Doubts Over Covid-19 Vaccines, Impending Outbreaks
4 years, 1 month ago

World Shares Slip On Doubts Over Covid-19 Vaccines, Impending Outbreaks

News 18  

World stocks fell back on Thursday after an overnight comeback by big technology shares that have thrived during the pandemic. Vaccine trades reversed to give way to stay home’ trades,” as shares of technology companies and others that do well when people stay home and work remotely rallied, Mizuho Bank said in a commentary. But it added, Fact of the matter is, progress on vaccine development is at worst two steps forward one step back, and not one step forward and two steps back on a sustained basis.” Germany’s DAX lost 0.8% to 13,104.87 and the CAC 40 in Paris declined 0.9% to 5,393.76. Chinese technology shares have taken a beating this week, losing about $290 billion in market capitalization after the government issued new proposed anti-trust regulations for digital industries, said Jeffrey Halley of Oanda. Overnight, the Dow Jones Industrial Average edged 0.1% lower, to 29,397.63, falling back on news that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.

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