TOKYO , Global shares fell on Friday despite Wall Street’s latest rally.
France’s CAC 40 fell 0.4% to 6,774.23, while Germany’s DAX dropped 0.8% to 15,575.63. The FTSE 100 in Britain fell 0.4% to 7,218.11. The future of the Dow industrials was 0.2% less at 35,531.00. Future prospects for the S&P 500 were 0.5% lower at 4,563.75.
Investors are concerned about how the pandemic will unfold in the coming months. IHS Markit reported that global vaccination rolls have been making progress and seem to be helping to contain the damage caused by the coronavirus pandemic.
It stated that the current COVID-19 Delta wave showed a notable decline in daily new cases during September and October 2021. However, the pandemic remains a major risk to the near-term economy’s outlook.
The Liberal Democratic Party, the ruling party, will likely remain in power. It has been ruling almost continuously for over a decade. The opposition will also gain ground due to public discontent with the government’s handling the coronavirus pandemic, and concerns about the economy.
South Korea’s Kospi fell 1.3% to 2,970.68. The S&P/ASX 200 in Australia fell 1.4% to 7,323.70. Hong Kong’s Hang Seng fell 0.7% to 25,377.24, while Australia’s S&P/ASX 200 declined 1.4% to 7,323.70. The Shanghai Composite recovered earlier losses and rose 0.8% to 3,547.34.
Investors are focused on the pace of economic growth as well as the state of the job market. They look forward to next week’s Federal Reserve meeting to see how the Fed moves with plans to reduce bond purchases and to change its interest rate position.
Rising energy costs have raised concerns about consumers’ affordability as they pay more for heating their homes and filling up their gas tanks. U.S. crude oil prices rose more than 70% this year.
In electronic trading on New York Mercantile Exchange, Benchmark U.S crude oil gained 6 cents per barrel to $82.87 a bar. On Thursday, it rose 15 cents to $82.81 a barrel. Brent crude, an international standard, rose 21c to $84.53 per barrel.
The U.S. dollar rose from 113.58 to 113.68 yen in currency trading. From $1.1682, the euro cost $1.1655.
