Global Stocks Slip After Wall Street’s Worst Drop in a Month
Global stock markets traded mostly lower this morning as rising coronavirus cases and a lack of U.S. economic aid gave Wall Street it’s worst day in about a month Monday.
Shares fell in Paris, London, Hong Kong, Sydney and Seoul. Stocks were flat in Tokyo while earlier losses were recovered in Shanghai. Overnight, the S&P 500 lost 1.9%.
In the U.S., it’s still unclear if Republicans and Democrats will be able to hammer out another economic relief bill by election day on Nov. 3. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin also have yet to reach an agreement on funds for laid-off workers and state and local governments.
But I wouldn’t rule anything out just yet…
In today’s video, I have more on how current market sentiment is impacting U.S. stocks… whether earnings will come out better than expected… an update on the renewable and traditional energy environment… and three defensive stocks that are pulling back right now.
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