World Stocks Off to a Cautious Start; Euro Struggles-Reuters

LONDON—World stocks kicked off the week on a cautious note on Monday after posting a second consecutive weekly drop, and the euro struggled as traders weighed the risks of European lockdown restrictions and prospects of a faster Federal Reserve taper. Though Wall Street futures held comfortably in positive territory in early London trading, major European indexes opened in the red as markets seem to have suddenly woken up to COVID-19 risks. “The problem in Europe is the spread of Covid-19 which means that more lockdowns and other health restrictions partly against the non-vaccinated should rapidly increase in the next two weeks,” said Sebastian Galy, a strategist at Societe Generale. “That in turn should have a negative impact on some services and impact negatively growth, a scenario that had been ever more priced into the European equity market.” Austria powered down public life on Monday as its fourth national COVID-19 lockdown … LONDON—World stocks kicked off the week on a cautious note on Monday after posting a second consecutive weekly drop, and the euro struggled as traders weighed the risks of European lockdown restrictions and prospects of a faster Federal Reserve taper. Though Wall Street futures held comfortably in positive territory in early London trading, major European

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