Sumary of Asian Stock Markets Sink As Traders Watch Europe Virus Cases:
- Asian stock markets sank on Friday as traders watched a surge in coronavirus cases in Europe and anti-disease controls that threaten to disrupt trade and travel.
- Austria imposed a nationwide 10-day lockdown after its daily virus deaths tripled, while Italy imposed curbs on activity by unvaccinated people.
- Morocco suspended flights from France after its daily new cases spiked above 30,000. “Traders will be closely monitoring the situation with the new COVID wave across Europe,” said Anderson Alves of ActivTrades in a report.
- Investors are more cautious after Federal Reserve officials said in notes from their October meeting released this week they foresaw the possibility of responding to higher inflation by raising rates sooner than previously planned.
- The Fed said earlier it foresaw keeping rates low until late next year.