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GLOBAL MARKETS-Stocks fall, dollar rises as concerns linger over stimulus talks

Published 12/12/2020, 03:45 am
Updated 12/12/2020, 03:48 am
© Reuters.
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* Major U.S. stock indexes lower in morning NY trade

* Brexit, virus worries weigh on European shares

* Sterling lower as no trade deal on Brexit likely

* Dollar gets boost as risk sentiment sours (Updates with early U.S. markets activity, changes dateline, previous LONDON)

By Caroline Valetkevitch

NEW YORK, Dec 11 (Reuters) - Global stock indexes eased and the dollar rose on Friday amid continued concerns over the timing of more U.S. economic stimulus.

All three major U.S. stock indexes were lower in morning New York trading. coronavirus deaths are causing fresh business restrictions in many U.S. states and increasing layoffs, making investors anxious to hear whether more fiscal relief is coming.

House Speaker Nancy Pelosi on Thursday raised the possibility of stimulus negotiations dragging on through Christmas.

"Investors are wondering what is it that Congress needs to hear before they decide to act ... their focus is more on politics than it is on the American economy," said CFRA Chief Investment Strategist Sam Stovall.

The Dow Jones Industrial Average .DJI fell 62 points, or 0.21%, to 29,937.26, the S&P 500 .SPX lost 19.69 points, or 0.54%, to 3,648.41 and the Nasdaq Composite .IXIC dropped 78.48 points, or 0.63%, to 12,327.33.

The pan-European STOXX 600 index .STOXX lost 0.68% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.40%.

Still, recent U.S. initial public offerings suggested investors were generally upbeat on equities, even as jobs data pointed to U.S. economic weakness.

The dollar index =USD rose 0.236%.

Sterling slipped as bets on further volatility in the currency grew as a disorderly Brexit appeared more likely. Sterling GBP= was last trading at $1.3224, down 0.52% on the day. is likely to complete its journey out of the European Union in three weeks without a trade deal, British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen said on Friday. Stanley said it expects London's FTSE 250 index to drop 6%-10% if London and Brussels fail to agree a trade deal, with insurance, real estate and homebuilding stocks also at risk. 10-year notes US10YT=RR last rose 9/32 in price to yield 0.8799%, from 0.908% late on Thursday.

Oil prices LCOc1 CLc1 were flat, while spot gold prices XAU= were higher.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates in 2020

http://tmsnrt.rs/2egbfVh 2020 asset performance

http://tmsnrt.rs/2yaDPgn Sterling volatility

https://tmsnrt.rs/3m7AZ3W

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