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The price of iron ore plummeted and the Australian stock market fell more than 2%.
Related reading: Singapore iron ore prices fell more than 11% at one point, Australian stocks opened lower, and the S&P/ASX 200 index fell 2.3% to 7237.40, dragged down by declines in mining and bank stocks. The index is now at its lowest level since July 20. The utilities sector is the only rising sector. Kyle Rodda, market analyst at IG Markets, said in a report: "given the widespread concerns about global growth and financial conditions, the large miners on the Australian Stock Exchange are still at a disadvantage.
Demand for risk aversion prompted overseas investors to buy more than 4 trillion yen of Japanese government bonds in June
Overseas fund purchases of Japanese government bonds reached the second-highest level on record in June as the spread of the Delta mutation spurred investor demand for safe-haven assets. Overseas investors bought a net 4.06 trillion yen ($37 billion) of JGBs last month, second only to 4.42 trillion yen in December 2018, according to the Japan Securities Association. Kei Yamazaki, senior fund manager at Sumitomo Mitsui DS Asset Management, said, "although Japanese government bonds are not attractive in themselves, they are included in the global fund index and may benefit from the world."
Biden accuses platforms like Facebook of allowing vaccine misinformation to be posted: “They're killing people”
FX168 Financial News (North America) News On Friday (July 16), US President Joe Biden said that Facebook and other platforms allowed COVID-19 vaccine misinformation to be posted on their services, causing people to die. When asked what information he conveyed about the coronavirus to platforms such as Facebook, Biden said, “They are killing people.” On the South Lawn of the White House, Biden said, “I mean, they really, look, our only pandemic is among unvaccinated people, they're killing people.” Biden responded to White House press secretary Psaki's earlier comments. Psaki
For the first time since mid-January, the number of new confirmed cases in Britain has exceeded 50, 000. European stock markets have closed lower across the board.
FX168 Financial News (North America) European stock markets closed lower across the board on Friday as investors focused on macroeconomic data, corporate earnings and the spread of novel coronavirus. The pan-European Stoxx 600 index closed down 4.36 points, or 0.95%, at 456.20. Among them, mining stocks led the decline, down 2.8%. The index hit an all-time high of 457.67 points on Monday, but is still down about 0.7% this week. Germany's DAX30 index closed down 87.76 points, or 0.56%, at 15541.90.
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