Stocks in the Eurozone are falling as Covid rises.


Stocks in the Eurozone are falling as Covid rises.

The euro and eurozone stock markets also fell on Wednesday as traders monitored the regional implications from the growing number of Covid cases.

Meanwhile, as investors awaited the minutes of the most recent Federal Reserve policy meeting and absorbed a slew of data, the US dollar rose and Wall Street stocks sank.

“The dollar has extended its gains and is on track to conclude the week higher for the fifth week in a row, backed by rising rates with faster tapering forecasts, stronger data, and worries for the eurozone with mounting Covid cases,” according to ThinkMarkets analyst Fawad Razaqzada.

As the economy improves and inflation rises, recent market movements imply that the Fed may taper, or wind down, its bond-buying program sooner than expected and raise US interest rates next year.

The Reserve Bank of New Zealand raised interest rates for the second month in a row on Wednesday.

Initial claims for unemployment benefits fell to 199,000 last week, the lowest level since November 1969, despite data showing that initial claims for unemployment benefits fell to 199,000 last week, a level not only below the Covid-19 pandemic-related mass layoffs, but also below the Covid-19 pandemic-related mass layoffs.

Despite the United States and other countries releasing less stockpiled crude than projected, oil prices fell.

A recent spike in oil prices has heightened fears that inflation, which is already at multi-year highs, will continue to increase, placing additional pressure on banks to reverse the loose money measures implemented at the start of the pandemic and vital to the stock market’s 18-month rally.

At OPEC’s next meeting, the president of the International Energy Agency urged the group to take “necessary steps” to cut oil prices.

Investors are becoming increasingly concerned about the rising number of Covid cases in Europe.

“Investors are currently concerned with rising Covid-19 cases in Europe and fears of a faster tapering program in the United States,” said Richard Hunter, head of markets at Interactive Investor.

To combat a comeback of Covid, several European countries have implemented severe containment measures, with Austria resorting to a partial lockdown and some worried that Germany, the continent’s largest economy, could follow suit.

Meanwhile, the European Union’s health agency urged member states to “immediately” implement anti-Covid measures to limit the disease’s potential “extremely high” burden in December and January.

Andrea Ammon, the director of the European Centre for Disease Prevention and Control, advised all adults above the age of 18 to get Covid booster shots.

Investors were also keeping a close eye on political developments in Germany, where a centrist-left coalition was forming. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.


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