Wall St., global equities retreat on renewed pandemic fear; safe-havens rise

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Wall St., global equities retreat on renewed pandemic fear; safe-havens rise

On Friday, Wall St. had winded down the day deep into the reds, while a gauge of global equity indices had also mirrored the complexion of Wall St. over renewed frets of pandemic resurgence. In point of fact, while the big money market whales across the globe had already been in the bay awaiting big impulses, an Apple Inc.

statement released earlier on Friday saying it would shut down 11 US stores on a temporary basis due to an uptick in pandemic cases, had added to further strains, rekindling frets of a second wave of pandemic. If truth is to be told, Friday’s Wall St.

alongside a number of major equity indices across the globe, had been rattled following the reveal of Apple Inc. move to shut down stores in the US states of Florida, Arizona, North Carolina and South Carolina, denting prospects of a quicker-than-anticipated economic recovery and stalling progresses in the Wall St.

Wall St. falls as Apple restriction renews pandemic fear

Citing statistics, on Friday’s Wall St. closure, the trade-sensitive Dow Jones Industrial Average took a tattering header of 0.78 per cent to 25,875.72 after opening up the day in a fairly upbeat tone, benchmark S&P 500 shed 0.55 per cent to 3,098.12 and the tech-heavy Nasdaq Composite had rounded off the day almost unchanged at 9,946.12.

Besides, while demands for the safe-haven assets rose with US Gold futures’ prices climbing above $1,750 an ounce barrier to round off the week at $1,753 an ounce, the MSCI’s gauge of global indices that keeps track of 48 stock exchanges across the globe had drooled 0.20 per cent, however, emerging market stocks rose by 0.60 per cent.

Meanwhile, referring the Apple Inc. move as a key catalyst behind the choppy session on Friday, a senior market analyst at currency brokerage firm, OANDA, Edward Moya was quoted saying on Friday that the Apple’s decision had sent strong signals of further restrictions alongside a stall in re-opening process.