Stocks were mixed in Asia on Monday after ending the week mostly lower on Wall Street, despite the Nasdaq's first close above 16,000.
Stocks were mixed in Asia on Monday after ending the week mostly lower on Wall Street, despite the Nasdaq’s first close above 16,000.
A resurgence of coronavirus outbreaks in the U.S., Europe and some other regions is weighing on investor sentiment. Comments by advisers to the Chinese central bank about risks of “stagflation,” meanwhile, have reinforced concerns about inflationary pressures. Another economist, Jia Kang, echoed that sentiment, saying that if the pace of economic growth is slower than the inflation rate, “then how can we formulate a prescription for macro-control?”
On Friday, the S&P 500 index SPX, -0.14% gave up 0.1% to 4,697.96 and the Dow Jones Industrial Average DJIA, -0.75% fell 0.8% to 35,601.98. The Nasdaq COMP, +0.40% added 0.4% to 16,057.44, for its sixth straight gain.
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