BEIJING — Asian stock markets followed Wall Street lower Friday on worries economic recoveries might fade as coronavirus cases increase in the United States and some other countries. Benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia retreated a day after strong gains driven by the rise of U.S. tech stocks. Global stock prices have recovered most of this year’s losses on optimism about a recovery from the coronavirus pandemic. On Wall Street, the benchmark S&P 500 index lost 0.6% overnight. “Money is funneling into perceived safe areas of the market like tech, which should hold up broader indexes to a degree.”

Source: International New York Times July 10, 2020 06:00 UTC