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Shares Slide, Dollar Up As Hopes of Economic Recovery Fade 2 New York

Emerging market stocks lost 1.91%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 2.19% lower, while Japan’s Nikkei lost 1.11%.
Flows into the dollar helped it rise for a fifth straight day against a basket of peers as investors seek safety.
“Optimism on the recovery, optimism on the virus, and bets on stimulus were keeping markets well bid, and on all three of these issues there has been a degree of disappointment this month,” said John Velis, an FX and macro strategist at BNY Mellon.
The dollar index rose 0.179%, with the euro down 0.13% at $1.1644.
The Japanese yen weakened 0.08% versus the greenback at 105.47 per dollar, while Sterling was last trading at $1.2716, down 0.05% on the day.
Oil prices ticked lower, tracking post-settle trading the previous session, as the bullish impact of a fall in U.S. inventories was offset by a stronger dollar and a renewed wave of coronavirus cases in Europe.
U.S. crude recently fell 0.25% to $39.83 per barrel and Brent was at $41.57, down 0.48% on the day.
U.S. Treasury yields fell on Thursday as labor market data indicated the economic recovery may be stalling, but moved off lows after a stronger-than-expected report on the housing sector.
Benchmark 10-year notes last rose 4/32 in price to yield 0.6642%, from 0.676% late on Wednesday.

 

Source: Saudi Press Agency

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