Mon, 30 Nov 2020

European stocks, dollar slide awaiting US stimulus

21 Oct 2020, 22:12 GMT+10

European stock markets slid and the dollar faltered Wednesday following a mixed performance in Asia, as investors continue to wait on a US stimulus package.

"European equity markets are in the red... as traders are growing tired of the fact that US politicians have yet to strike a deal with respect to the stimulus package," noted David Madden, analyst at CMC Markets UK.

Her comments fanned optimism for a much-needed spending boost for US households and businesses, as a fresh wave of coronavirus hits the country and threatens to trigger the reimposition of economically painful containment measures.

And if nothing is passed before the election, traders broadly expect a new package to be passed at some point, whoever wins next month.

Tokyo closed with a gain of 0.3%, while Hong Kong rose 0.8%.

Meanwhile a report said drugs giant AstraZeneca is expected to be allowed to restart trials in the US after they were suspended worldwide in September when a volunteer fell ill.

Source: News24

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