Concerns over slowing China growth and a spike in COVID-19 cases in Europe stymied the global equity markets rally on Friday with stocks struggling to cling to recent record highs and the euro looking on track for a second straight week of losses.
after the Chinese e-commerce firm's shares tumbled more than 10% as its second-quarter results missed expectations due to slowing consumption, increasing competition and a regulatory crackdown.
Sentiment was a downbeat in currency markets with the dollar standing tall versus its major rivals , up 0.3% on the day while the euro held near six-year lows versus the Swiss franc U.S. benchmark Treasury yields were steady below the 1.60% levels with investors waiting for news on the next Federal Reserve chief announcement due in the coming days.
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