Asian stocks falter as global growth fears temper tech boost

Mabel R. Acton

By Andrew Galbraith and Suzanne Barlyn

(Reuters) – Asian shares wobbled in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment, despite strong U.S. tech earnings and signs of manufacturing recovery in China and Japan.

The U.S. dollar was also set for its worst month in a decade amid expectations the Fed will maintain its ultra-loose monetary policy for years.

U.S. GDP collapsed at a 32.9% annualized rate in the second quarter, the deepest decline on record, while jobless claims rose last week, adding to signs the momentum

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Global stocks mixed while safe haven gold climbs

Mabel R. Acton

Global stocks had a mixed session Wednesday, with Wall Street resuming a rally and European bourses retreating, as concerns about fresh spikes in coronavirus infections lifted haven investment gold above $1,800 an ounce for the first time since 2011.

The eurozone’s key indices were down by a percent or more at the close, with London doing a little better.

But the picture was different in New York, where the Nasdaq surged 1.4 percent to end at 10,492.50, its fourth record in five sessions. The Dow and S&P 500 also climbed.

“It’s been a tug of war between investors that believe

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