NEW YORK (Reuters) – The euro and European government bonds closed on Tuesday, lifted by a German-French proposal for the funding of grants for the regions, which have most of the corona-virus-pandemic, while oil is mostly traded higher on a growing demand as the country the business is loosened and lock.
FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE), the one that prepares the house to be in the vicinity for an indefinite period of time because of the corona virus disease (COVID-19) outbreak in New York city, U. s. a, 20. March, up to the year 2020. REUTERS/Lucas Jackson
A gauge of global equity markets retreated late in the session after Wall Street slipped on-a-report-of-medical-news-website-STATISTICS-the means, Modern art Inc. don’t have enough good data to assess their potential as COVID-19 vaccine.
“Moderna shares closed up 10.4%, after surging 20% on Monday when it said that a small, showed an early study promising results, the news that rallied the stock markets around the world.
Gold prices rose as some investors sought the safe-haven asset fear of recession, according to a 30.2% decline in U.S. housing starts in March, the biggest percentage drop on record.
Permits for future construction tumbled, in addition to data, the show, the pandemic to the deepest U.S. economic contraction in the second quarter since the Great Depression.
The euro rose 0.05% to $1.0918, paring gains on the German-French plans for a 500-billion-euro European Union’s recovery fund, it was announced on Monday.
“The German-French proposal is a material step in the direction of the use of the common fiscal capacity, a sustainable fiscal policy stimuli to support the economic recovery,” said Lee Hardman, a currency analyst at MUFG.
The Spanish and Portuguese government bond yields fell, after a large drop in Italian yields on Monday.
Europe’s STOXX 600 index slipped 0.61%, after the strong rise in share markets on Monday. But MSCI display of stocks around the world, shed 0.21%.
On Wall Street, the Dow Jones Industrial Average 390.51 points, or 1,59%, fell to 24,206.86. The S&P 500 lost 30.97 points, or 1.05 percent, to 2,922.94, and the Nasdaq Composite fell 49.72 points, or 0.54% to 9,185.10.
The Federal Reserve chair, and Jerome Powell told U.S. lawmakers that the corona-virus-response, relief and Economic security (CARES) Act, passed in March, it was “vital” for the Fed the ability to credit to offset the economic shock caused by the corona virus.
U.S. Treasury yields were lower. The benchmark 10-year yield slipped to 4.9 basis points to 0.6931%.
Brent crude oil prices traded higher most of the session, but It relaxes to the end.
U. s. crude oil rose 68 cents to settle at $32.50 per barrel, while Brent crude fell 16 cents to settle at $34.65 a barrel.
U.S. gold futures settled 0.6% higher at $1,745.60 an ounce.
The reporting by Herbert lash, additional reporting by Olga Cotaga in London; editing by Dan Grebler