Global shares plunge on axed U.S. stimulus

20.11.2020 - Petr Mazaylo
Global shares plunge on axed U.S. stimulus

 On Friday, global share markets were underpinned by U.S. Treasury Secretary Steven Mnuchin’s decision of nullifying some the country’s coronavirus relief programs.  The cancellation of funds for struggling businesses sparked a dispute between the Federal Reserve and the Department of Treasury.

In Asia, Japan’s benchmark index Nikkei recorded a 0.5% drop as South Korea’s KOSPI index remained flat. Australian shares made minimal gains, while Chinese shares budged as the blue-chip index advanced a shade higher. These mixed records sent MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2%.  

Futures for the S&P 500 dropped 0.7%, while futures for the Dow plunged 0.8%. The series of declines cancelled a robust lead from Wall Street’s upbeat session seen overnight.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?