Asian futures driven down by negative outlook and tensions
Wall Street futures went down together with Asian stocks on May 21. The markets were impacted by a new wave of anxiety over the long-term consequences of the pandemic.
MSCI’s Asia-Pacific index lost 0.1%, following a 3% rally this week. E-mini futures for the S&P 500 stocks lost 0.54%.
Europe was headed for a softer start. Euro STOXX 50 futures lost 1.02%. FTSE futures lost 0.58% and DAX futures lost 0.92%.
Investors are waiting for a key policy gathering in China. It might provide for more stimulus amidst the negative reports from other countries.
The earlier eagerness for risky investments has been undermined by the new tensions in US-China relations, which were reignited by President Trump’s harsh stance on Chinese management of the pandemic.
Nikkei lost 0.05%, impacted by the underwhelming exports data. Australian stocks edged slightly lower.