Asian shares ease concerns about the spread of the virus –

Asian shares ease concerns about the spread of the virus

Asian stocks have fallen, with losses due to growing concerns over a new, possibly more contagious strain of coronovirus from countries around the world prohibiting travel from the United Kingdom

Outbreaks are raising concerns that the world economy may take worse punishment.

With new uncertainties, “investors are waking up to Asia more cautiously this morning, becoming more selective and possibly better variants of the new mutant virus before they aggressively dive into airlines, travel and leisure’s vaccine bandagon.” Looking forward to waiting, “‘Stephen Ines Axi said in a comment.

Stocks, oil prices and treasury yields fell on Monday, a sign investors are uneasy about the economy.

News of a new and potentially more contagious strain of coronavirus prohibits travel from the United Kingdom to countries around the world. This should cause traders to be concerned about the potential economic consequences that it must spread to other countries or prove resistant to the vaccines being distributed now.

Britain’s Prime Minister Boris Johnson placed a new level of sanctions in London and the South-East of England after scientific advisors warned he had discovered a new version of the coronovirus. There is no evidence that mutations of the new strain make it more lethal, but it infects more easily than others.

The S&P 500 fell 1.4% to 3,694.92. The Dow Jones Industrial Average rose 0.1% to 30,216.45. The Nasdaq Composite slipped 0.1% to close at 12,742.52. The Russell 2000 small-cap index rose 0.1% to 1,970.33.

Encouraging news from outside Washington helped keep sales under control. Congress ultimately approved a $ 900 billion relief effort for the economy that includes $ 600 in cash payments for most Americans, additional benefits for shut-off workers and other financial aid.

Economists and investors have been mobilizing for such assistance for months, and stock prices were rising in anticipation of a deal, with recent negotiations intensifying. Analysts said some traders may have been sold to close in profits, all have been compromised, but assurances have been given and prices are nearing all-time highs. Even after Monday’s decline, the S&P 500 has only returned to where it was earlier this month.

Across the Atlantic, negotiators set a Sunday deadline to negotiate trade terms for the United Kingdom to exit the European Union. Investors are fixated on the progress of those negotiations because Brexit without a deal could cause massive disruption to businesses on New Year’s Day.

The first day of trading for Tesla since joining the S&P 500 index was also Monday. The electric-vehicle manufacturer raised about 731% by Friday evening this year, with some critics saying its price makes no sense. But its inclusion in the benchmark index generated $ 90.3 billion in trades, as the company became the sixth largest company in the S&P 500. Tesla lost 6.5% on Monday.

The yield on the 10-year Treasury held steady at 0.93%.

Benchmark US crude oil fell 27 cents to $ 47.70 a barrel on the New York Mercantile Exchange. It gave $ 47.97 a dollar to $ 1.27 a barrel on Monday.

Internationally, Brent crude slipped 23 cents to $ 50.68 a barrel.

The dollar rose from 103.31 yen to 103.41 Japanese yen on Monday. The euro fell from $ 1.2243 to $ 1.2232.

AP Business Writers Stan Choe and Alex Vega contributed.


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