Global equities retreat at end of painful week
Stock markets sustained further losses Friday, capping a painful week for global equities characterised by fears over surging infections, stuttering vaccine rollouts and the weak economic backdrop.
Traders have been licking their wounds after the worst reversal since October, following a months-long rally that saw several indices strike record or multi-year highs. "Markets began January on a high, but are going out in the opposite mood, with no sign of any real rebound in sentiment so far," said Chris Beauchamp, chief market analyst at online trading firm IG. "However, while the losses have been quick and dramatic, as they usually are, they have only dented the rally from November, not wiped it out entirely. "Europe's main stock markets fell sharply, with Paris closing down two per cent.
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