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 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.
“The (global) economic system still needs significant policy support for the reasons we know,” said Joseph Little, Chief Global Strategist at HSBC GAM.