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Jul 30, 2020
9:21PM

Global stocks fall as Federal Reserve's relief rally fades

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Global shares today fell as the Federal Reserve's pledge to use all its tools to support the U.S. economy failed to reassure investors uneasy about a stalemate on fiscal support and rising coronavirus cases.

China’s Shanghai Composite index fell marginally by 0.2 percent and Hong Kong’s Hang Seng declined 0.7 percent. Japan's Nikkei-225 slipped 0.3 percent and Singapore’s Straits times plunged 1.7 percent.

On the other hand, South Korea’s KOSPI gained marginally by 0.2 percent. 

European shares were down in intra day trade as dismal earnings reports and weaker-than-expected German GDP data took the shine off the U.S. Federal Reserve’s vow to keep stimulus taps open to shore up a coronavirus-ravaged economy.

London’s FTSC-100 plunged 1.6 percent, France’s CAC fell 1.1 percent and Germany's DAX tumbled 2.3 percent.
 

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