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Delta concerns dent global stocks

Market futures are mainly lower after stocks dived yesterday, amid concerns the Delta COVID-19 variant would dent the global economy.
Delta concerns dent global stocks Delta concerns dent global stocks Delta concerns dent global stocks Delta concerns dent global stocks Delta concerns dent global stocks

Image: Unsplash.com/Markus Winkler

Staff reporter

In the US, the S&P 500 closed down 1.59%.

The FTSE 100 closed down 2.34% as the UK marked Freedom Day, with long-term restrictions lifting despite a recent surge in cases.

Meanwhile geopolitical tensions have increased, with allies including the US, UK and Australia expressing concern about China's "malicious cyber activity".

The allies have attributed the Microsoft Exchange server cyber attack in March to China's Ministry of State Security and "are not ruling out further actions" to hold China accountable.

The gold price is up slightly, above US$1,813 an ounce.

Copper lost more than 2% on the London Metal Exchange.

Oil dropped further, down 7.5% to $66.42 a barrel, following the OPEC+ agreement on the weekend to boost supply to April 2022.

Among the mining majors, Rio Tinto lost 2.97% in London, Freeport-McMoRan fell 2.41% in New York and Barrick Gold eased 0.4% in Toronto.