{"id":44564,"date":"2021-01-29T23:23:11","date_gmt":"2021-01-29T23:23:11","guid":{"rendered":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=44564"},"modified":"2021-01-29T23:23:11","modified_gmt":"2021-01-29T23:23:11","slug":"winter-blues-us-stocks-see-worst-week-since-october-amid-turmoil","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=44564","title":{"rendered":"Winter blues: US stocks see worst week since October amid turmoil"},"content":{"rendered":"
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\"Bloomberg\"<\/div>\n<\/div>\n

Global stocks also fell the most since late October after day traders hatching stock bets roiled hedge funds and strained trading platforms.<\/p>\n<\/div>\n

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Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose.<\/p>\n

The S&P 500 Index fell almost 2%, turning negative for the year and posting its biggest weekly decline in three months as day traders\u2019 bids for heavily-shorted stocks fueled speculation hedge funds would need to reduce their market exposure.\u00a0GameStop Corp.\u00a0and AMC Entertainment Holdings Inc. soared in a return of volatility for stocks popular in internet chat rooms as brokerages said they would start to ease trading restrictions imposed after wild swings this week.<\/p>\n

Global stocks also fell the most since late October, partly on the turmoil caused by hoards of day traders hatching stock bets that roiled hedge funds and strained trading platforms. Meanwhile, investors were left to ponder the outlook for the pandemic as Johnson & Johnson said its one-shot vaccine generated strong protection against Covid-19, though it was less effective against the South Africa variant. The European Union escalated the fight over vaccine supplies with an emergency plan to restrict exports.<\/p>\n

\u201cExtended and stricter lockdowns do not bode well for the economy,\u201d said Carsten Brzeski, global head of macro at ING Groep. \u201cDemand from China could also weaken on the back of lockdowns.\u201d<\/p>\n

The Stoxx Europe 600 dropped almost 2% in a broad decline. Swedish retailer Hennes & Mauritz AB fell after warning it\u2019s still in \u201ccrisis mode,\u201d with 40% of stores shut. Bootmaker Dr. Martens Plc jumped 22% as it\u00a0ended its first day of trading in London.<\/p>\n

Elsewhere, a glut of liquidity sent short-term U.S. dollar borrowing costs to a\u00a0record low. But in China, a money-market rate surged to the highest in almost six years, reflecting tighter financial conditions even after the central bank extended credit for the first time this week.<\/p>\n

These are the main moves in markets:<\/p>\n

Stocks<\/strong><\/p>\n

    \n
  • The S&P 500 Index fell 1.9% at 4 p.m. in New York.<\/li>\n
  • The Stoxx Europe 600 index dropped 1.9%.<\/li>\n
  • The MSCI Asia Pacific index fell 1.6%.<\/li>\n
  • The MSCI Emerging Markets index dropped 1.6%.<\/li>\n<\/ul>\n

    Currencies<\/strong><\/p>\n

      \n
    • The Bloomberg Dollar Spot Index rose 0.3%.<\/li>\n
    • The euro strengthened 0.1% to $1.2135.<\/li>\n
    • The British pound slipped 0.2% to $1.3698.<\/li>\n
    • The yen dropped 0.5% to 104.73 per dollar.<\/li>\n<\/ul>\n

      Bonds<\/strong><\/p>\n

        \n
      • The yield on 10-year Treasuries rose four basis points to 1.09%.<\/li>\n
      • Germany\u2019s 10-year yield climbed two basis points to -0.52%.<\/li>\n
      • The U.K.\u2019s 10-year yield rose four basis points to 0.325%.<\/li>\n<\/ul>\n

        Commodities<\/strong><\/p>\n

          \n
        • West Texas Intermediate crude fell 0.2% to $52.22 a barrel.<\/li>\n
        • Gold rose 0.1% to $1,844.93 an ounce.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

          Global stocks also fell the most since late October after day traders hatching stock bets roiled hedge funds and strained trading platforms.Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose.…<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-44564","post","type-post","status-publish","format-standard","hentry","category-spotlight_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/44564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44564"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/44564\/revisions"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}