GLOBAL MARKETS-Equities dip, safe havens rise as virus cases surge

By David Randall
NEW YORK, June 25 (Reuters) - Global equity benchmarks edged
lower Thursday as investors gauged the potential economic impact
of a surge in U.S. coronavirus cases, while perceived safe haven
assets including U.S. Treasuries and the dollar rose.
In the United States, Florida, Oklahoma and South Carolina
reported record increases in new cases on Wednesday and
Australia posted its biggest daily rise in two months.

The governors of New York, New Jersey and Connecticut
ordered travelers from eight other states to quarantine on
arrival, a worry for investors who had mostly been expecting an
end to pandemic restrictions. Disney DIS.N has delayed the re-opening of theme parks and
resorts in California, and Texas is facing a "massive outbreak"
and considering new localized restrictions, its governor said.
After a white-hot few months for markets that has seen world
stocks rebound nearly 40% .MIWD00000PUS , nervousness about the
impact of COVID-19 was rising again. "There is a little bit of reality bites coming," said Damian
Rooney, senior institutional salesman at stockbroker Argonaut in
Perth. "I don't think there was a particular straw that broke
the camel's back, but people are a little bit twitchy."
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.40% following modest gains in Europe led by Germany, which
reported rising consumer confidence
In morning trading on Wall Street, the Dow Jones Industrial
Average .DJI fell 84.5 points, or 0.33%, to 25,361.44, the S&P
500 .SPX lost 4.06 points, or 0.13%, to 3,046.27 and the
Nasdaq Composite .IXIC added 10.09 points, or 0.1%, to
9,919.25.
Weekly jobless claims data showed weak demand is forcing
U.S. employers to lay off workers, even as businesses reopen.
Claims totaled a seasonally adjusted 1.480 million for the week
ended June 20 and although down from 1.540 million the prior
week, it was higher than the 1.3 million a Reuters poll had
expected.
"During the swift rebound since the March lows, equity
markets may have gotten a little ahead of themselves," wealth
manager DWS said in a quarterly Chief Investment Officer report.
Concerns about lingering economic damage from the
coronavirus pandemic helped bolster the dollar and government
bonds.
The dollar index =USD rose 0.203%, with the euro EUR=
down 0.34% to $1.1212. Benchmark 10-year notes US10YT=RR last
rose 7/32 in price to yield 0.661%, from 0.684% late on
Wednesday.
Gold XAU= hovered around $1,757 an ounce GOL/ .
U.S. crude CLc1 recently fell 0.11% to $37.97 per barrel
and Brent LCOc1 was at $40.22, down 0.22% on the day.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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