Stock prices are falling on concerns about new Covid-19 cases around the world

Stock prices in the US and most European stock markets fell on Friday, as the rise in Covid-19 cases prompted a number of large US states to impose new restrictions that threaten economic recovery after a major corporate shutdown due to the coronavirus.

Major U.S. stock market indices fell more than 2.4% at the end of the week, following bans by the Texas and Florida state authorities on the sale of alcohol in bars and other measures to stem the rise in coronavirus cases.

Oil prices fell due to concerns about declining demand.

Investors’ confidence in the US economic recovery is “hampered by concerns about Covid-19 as the number of new cases increases,” analysts at brokerage firm Charles Schwab said.

Texas and Florida, with a combined population of more than 50 million, are among the most populous states in the United States. Covid-19 cases are also growing rapidly in other southern and western US states, including Arizona and Georgia.

Stock prices have been volatile this week as investors try to assess the current phase of the coronavirus crisis and whether it will be as devastating to the economy as the social distancing measures imposed in previous months.

The Dow Jones Industrial Average fell 2.8% to 25,015.55 points on Friday, the Standard & Poor’s 500 fell 2.4% to 3009.05 points, and the Nasdaq Composite fell 2.6% to 9757.22 points.

The London Stock Exchange index FTSE 100 rose 0.2% to 6159.30 points on Friday, the Frankfurt stock exchange index DAX 30 fell 0.7% to 12,089.39 points, while the Paris stock exchange index CAC 40 fell 0.2% to 4909 .64 points.

In the e-commerce of the New York Stock Exchange, the price of WTI crude oil fell by 0.6% to USD 38.49 per barrel on Friday. The price of Brent crude oil fell 2.8% to $ 41.02 a barrel on the London Stock Exchange.

The euro remained unchanged at $ 1.1218 per euro against the US dollar on Friday, the British pound depreciated against the US dollar from $ 1.2419 to $ 1.2336 per pound, and the US dollar against the Japanese yen rose from 107.19 to 107, 22 yen per dollar. The value of the euro against the pound sterling rose from 90.33 to 90.92 pence per euro.

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