Global stocks fall as recession fears grow

An employee passes share price information displayed on an electronic board inside the London Stock Exchange Group’s offices in London, the UK. Picture: BLOOMBERG VIA GETTY IMAGES/LUKE MACGREGOR

“The reality is there is more to the French election story than Macron’s win yesterday,” said Rabobank FX strategist Jane Foley. State television in China reported that residents were ordered not to leave Beijing’s Chaoyang district on Monday after a few dozen Covid-19 cases were detected over the weekend.

In Europe, 134 of the Stoxx 600 will also report, including banks HSBC, UBS and Santander on Tuesday, Credit Suisse on Wednesday, Barclays on Thursday and NatWest and Spain’s BBVA on Friday. “Spiking food and gasoline prices plus the end of key stimulus programmes has investors concerned about the low-income consumer's ability to spend.”

Source: News Formal (newsformal.com)

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