Major stock markets retreat awaiting ‘ugly’ US jobs fallout

London (AFP) – European and leading Asian stock markets were back in the red Thursday as investors once again focussed on the devastating economic fallout the coronavirus pandemic is expected to wreak.After a sharp contraction in growth for Singapore — whose economy is viewed as a barometer for the health of global trade — all eyes were on upcoming US jobless claims data, which is expected to show a massive rise. The dollar was down sharply against its main rivals ahead of the figures, forecast by analysts to be considerably “ugly”.Federal Reserve Chairman Jerome Powell on Thursday said the …

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