“The rebound of the infection level, in particular in the US, displays that the road to whole restoration is likely to be lengthy and that it will need professional medical answers, this kind of as a vaccine,” Tai Hui, main Asia current market strategist for JP Morgan Asset Administration wrote in a Monday notice.
The scenario in the United States could also prompt considerations in Europe, as European governments are considering opening borders more throughout the summertime getaway time, he additional.
“We expect current market sentiment to flip cautious in the around term, with traders hedging pitfalls from the pandemic and ongoing tensions amongst the US and China,” Hui claimed.
In oil buying and selling, US crude futures fell 2% to trade at $37.74 for each barrel throughout Asian several hours on Monday. Brent, the world oil benchmark, lost 1.7% to trade at $40.23 per barrel.
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