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Wall Street slips as virus outbreaks dim rebound hopes

10 months 1 week 1 day ago Tuesday, July 07 2020 Jul 7, 2020 July 07, 2020 9:00 AM July 07, 2020 in News
Source: Associated Press

U.S. stocks are falling in early trading Tuesday as expanding coronavirus outbreaks dim hopes for a speedy recovery.

The S&P 500 and Dow Jones Industrial Average followed benchmarks in France, Germany and Britain lower after the European Union slashed its forecasts for economic growth in 2020.

Investors worry that recovery from the global recession and the lockdowns on businesses will take longer than expected.

Stocks also fell in Tokyo, Seoul and Hong Kong, while the Shanghai Composite index advanced.

Precious metals and crude oil prices also fell, as did the 10-year Treasury yield.

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