Global stock markets were subdued on Monday as investors weighed the strength of US economic jobs data from last week against longer-term concerns about the coronavirus’ impact on world growth.
Momentum continued in some markets from a rally on Friday, when the US Government said employers added 2.5 million workers to their payrolls in May, when economists were expecting them instead to slash another 8 million jobs. That raised hopes that the worst of the recession may have already passed. But economists cautioned that many risks still loom on the long road to a full recovery. “One should … Be cautioned against reading too much into any single month-on-month change, particularly during such times of uncertainty,” Jingyi Pan of IG said in a commentary.
