Financial Markets Daily Report 30 September 2020
Monday's stock market rally went into reverse in yesterday's session, as investors weighed the prospects for the coronavirus pandemic and the possibility of further fiscal stimulus in the U.S.
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- Monday's stock market rally went into reverse in yesterday's session, as investors weighed the prospects for the coronavirus pandemic and the possibility of further fiscal stimulus in the U.S.
- Oil prices took a hit as concerns over the global economic recovery affected expected demand. The price of the barrel of Brent fell 3.3% to $41.
- Financial stocks, which had led Monday's rally, were among the worst-performing sectors yesterday. The Eurostoxx50 fell 0.3% while the S&P 500 closed 0.5% lower. U.S. stock futures are down following yesterday night's chaotic U.S. presidential debate.
- In Europe, sovereign yields edged down, and the yield on 10-year Italian bonds fell 3 basis points despite large bond issuance.