By Sruthi Shankar. European shares extended losses for a fourth straight session on Friday on worries that an economic recovery may fizzle out as coronavirus cases continue to rise globally. The pan-European STOXX 600 index slipped 0.4% by 0714 GMT, with energy firms sliding 1.4% as oil prices fell on worries of fuel demand.
Japanese shares fell on Friday as a spike in fresh coronavirus cases at home and abroad fuelled concerns that the path to economic recovery could be hindered, while the market braced for corporate earnings pain. The benchmark Nikkei share average fell 0.23% to 22,476.74 by the midday break, with 43 advancers on the index against 177 decliners.
* Asian stock markets: https://tmsnrt.rs/2zpUAr4. * Equities and risk assets take a hit. * China stocks fall after red-hot rally. * Growth in U.S. coronavirus cases unsettles markets. By Stanley White and John McCrank.
Asian shares were set to open mostly lower on Friday as record-breaking new coronavirus cases and deaths in several U.S. states stoked concerns that new lockdowns could derail the economic recovery, and investors looked forward to earnings season.
The S&P 500 dropped Thursday as investors continued to back away from bets on a smooth reopening from the coronavirus shutdowns. Fresh data showed that initial unemployment claims in the U.S. remain elevated, and the number of confirmed new Covid-19 cases in the U.S. hit a new single-day high Wednesday. The broad U.S. stock index pulled back, dropping 17.89 points, or 0.6%, to 3152.05.
U.S. government bond yields fell to a nearly 11- week low Thursday after another well-received bond auction helped ease investors' concerns about the growing supply of Treasurys. Yields, which fall when bond prices rise, held steady overnight. But they dropped near the start of the U.S. trading session when U.S. stock indexes started to fall.
* Weekly jobless claims rise less than expected. * Walgreens drops after swinging to quarterly loss. * Indexes: Dow down 1.4%, S&P 500 down 0.6%, Nasdaq up 0.5% By Caroline Valetkevitch.
U.S. stocks dropped Thursday as investors continued to back away from bets on a smooth reopening from the coronavirus shutdowns. Fresh data showed that initial unemployment claims in the U.S. remain elevated, and the number of confirmed new Covid-19 cases in the U.S. hit a new single-day high Wednesday. The S&P 500 pulled back Thursday, dropping 0.6% as of the 4 p.m.
* Weekly jobless claims rise less than expected. * Walgreens drops after swinging to quarterly loss. By Caroline Valetkevitch. The S&P 500 and Dow dropped on Thursday as investors worried about another round of business shutdowns to contain a surge in coronavirus cases and began to shift their focus to earnings, though the Nasdaq registered another record closing high.
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