Stocks fell and U.S. futures wavered Monday as the risk of a slower recovery from the pandemic shadowed global markets and Chinese technology stocks buckled under Beijing’s regulatory clampdown.
A Hong Kong gauge of Chinese tech names tumbled after a reportthat officials are seeking to break up Ant Group Co.’s Alipay. China’s online platforms have also been told to protect the rights of workers in the so-called gig economy. MSCI Inc.’s Asia-Pacific index retreated for the third time in four sessions.
European futures were little changed and U.S. contracts struggled to make gains amid caution over reopening challenges from the delta virus strain. Oil rose to about $70 a barrel and aluminum rallied. Commodity markets are having a tough time balancing strong demand with sticky supply, Goldman Sachs Group Inc. said.
Treasury yields pared an advance as traders assess price pressures and their impact on the likely timeline for a reduction in Federal Reserve stimulus. An update on U.S. consumer prices this week will feed into the debate about whether elevated costs are transient. The dollar pushed higher.
Nikkei -0.02% Hang Seng -2.33% CSI -0.67% Shanghai +0.08% Shenzen -0.35%
Eur$ 1.1794 CNH 6.4498 CNY 6.4535 JPY 110.08 GBP 1.3826 CHF 0.9194 RUB 73.1171 TRY 8.4690 WTI$70.15 +0.62% Gold 1,792.25 +0.25% BTC 44,625 -465 ETH 3,670 -49
S&P +0.32% Nasdaq +0.19% EuroStoxx +0.22% FTSE +0.11% Dax +0.21% SMI +0.14%
Macro :
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- MKS LN : Marks & Spencer May Close Stores in France, Daily Mail Reports
- PAT GY : Patrizia to Buy Whitehelm Capital, Pushing Assets Above EU50b
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