LONDON: World stocks sagged on Tuesday as investors struggled to keep the thundering rally of recent weeks going with COVID-19 infections still surging and London and Brussels stuck in Brexit purgatory.
The pan-European STOXX 600 index barely budged, while sterling was wobbling again having tumbled as much as 1.6% on Monday due to the Brexit nerves.
Chinese blue-chips remained flat and Hong Kong’s Hang Seng dropped 0.6%, as Sino-U.S. tensions continued to weigh on the market.
Chinese Foreign Minister Wang Yi assured U.S. executives that Beijing remained committed to the Phase 1 trade deal with the United States.
Prices had come under pressure after Reuters had reported the U.S. was prepping sanctions on Chinese officials over Hong Kong.