Bear paints global stocks market red amid slow global recovery prospect

Major stock markets across the world this week witnessed significant profit-taking, as investors thronged towards safe-haven assets.

This came as the fair of a possible second round of lockdown gained traction in some states in the U.S., UK, some Euro-Zone countries, and Asia amid a resurgence in the number of newly infected persons and death cases from the Coronavirus pandemic.

Notably, thirteen (13) out of the fourteen (14) stock market performance indices within our coverage closed red this week, save for Argentina MERVAL which gained 0.60% w/w.

We expect the markets to see some respite next week, as local authorities in the affected countries continue to put all effort to tame the spread of the pandemic.