You mentioned the vaccine trials with astrazeneca. That is not voting well. Boding well. Chinese markets nearly 2 down for the shanghai composite. The hang seng down 303 points, and the kospi also lower. Watching the dollar declined overnight, given some of the risk off moves. The pound down on the sixth the day, the longest losing streak since may. Streak eurodollar slightly lower. , ian hashe aussieyen been boosted by the haven play. G10 higherthe only than the dollar. Yields pretty much flat right now but we saw treasuries up overnight. This is where we are seeing signs of contagion from the tech selloff, the Commodity Markets and oil markets in particular. Below 40 forst the First Time Since june. Thats get more analysis with our strategist. Mark, the u. S. Session came back from the holiday continuing the tech selloff. How is the market readjusting now . Mark it is not a pretty start in asia. The thing thats concerning wayle is it appears to be beyond tech and is affecting other A
Covid vaccine trial has been put on hold after a patient suffered a serious reaction. Australian corporate earnings set for a tough recovery after their worst slump. Will be asking about the challenges ahead including tensions with china. Shery lets get a quick check of how markets are trading. We are seeing u. S. Futures again under pressure. Down 7 10 of 1 . This as we continue to hear more reservations coming from these vaccine makers. We heard from astrazeneca after the close. We already had some skepticism over what happened to those vaccine approvals. We also had the text selloff accelerating. We saw the s p 500 sinking to a four week low. Not to mention ongoing u. S. China tensions. Every sector on the s p 500, 11 of them were down, led by tack and energy. We had the nasdaq composite losing more than 4 during the regular session. Take a look at some of the biggest decliners. We have tesla sinking almost 20 . This after shares were not added to the s p 500. A had news that rival
Boris johnson sparked outrage. News out ofing south korea. We are getting the jobless rate falling to 3. 2 percent. The expectation was that the jobless rate would come in at 4. 2 percent so this is much better than expected. We are also talking about the sixth straight month of decline in jobless rates. That 270 4000ring jobs were removed in august from a year earlier. We know that south korea has seen its government really boost those job creation efforts not to mention we could have seen domestic demand being held by the Summer Holiday season and more jobs being available. The government pushing for a fourth extra budget. This is of course helping workers and businesses who lost income due to the latest restrictions and jobless rates. 3. 2 . In for august at watch out for what happens later in the following months given we have seen this flare up in virus cases towards the end of august, haiti. Haidi. Haidi pretty dire numbers coming out and we continue to watch what happens when it
The World Economy faces a potential lengthy coronavirus recovery london based i just mark it said it expects the Global Economy to shrink 5. 5 percent this year now thats triple the damage from the 2008 financial crisis and a new report by the World Economic forum surveying risk managers is now suggesting this will be a long lasting global recession a contraction for the next 18 months managing director of the World Economic forum say he said the crisis has devastated lives and livelihoods it has triggered an economic crisis with far reaching implications and revealed the inadequacies of the past meanwhile on tuesday taiwan said it was disappointed and angry with the w. H. O. For not inviting the country to join this years world health assembly. I dont believe the ministry of Foreign Affairs and the british is strong dissatisfaction with the World Health Organization secretary has yielded to pressure from the Chinese Government and continues to disregard the right of the 23000000 peopl
So obviously he said the crisis has devastated lives and livelihoods it has triggered an economic crisis with far reaching implications and revealed the inadequacies of the past meanwhile on tuesday taiwan said it was disappointed and angry with the w. H. O. For not inviting the country to join this years world health assembly. The ministry of Foreign Affairs expresses strong dissatisfaction that the World Health Organization secretary has yielded to pressure from the Chinese Government and continues to disregard the right of the 23000000 people of taiwan. Taiwan has been lobbying to join after it was able to contain the krona Virus Outbreak the country is now relying on its own efforts for production of a vaccine this comes as u. S. President donald trump tweeted out a letter he sent to the head of the World Health Organization highlighting some serious concerns over the response will he also threaten to permanently cut off its funding if the w. H. O. Does not commit to some major sub