World Equities Under Pressure As Economic Worries Mount

• U.S. shares were mixed and global equities retreated from record highs on Tuesday, as mounting worries over the slowing pace of economic recovery and the impact of the coronavirus Delta variant overtook investors' hopes that the Federal Reserve will delay tapering.
• Key U.S. equity benchmarks were down and the MSCI world equity index retreated from a record hit overnight, following seven consecutive days of gains to all-time highs. Earlier in the session, hopes of extra stimulus in Japan and strong China trade data had boosted Asia shares.
• "The combination of exorbitant expectations, nosebleed valuations and slowing macro environment make the go-forward reward/risk outlook less attractive," said Jeffrey Carbone, managing director at Cornerstone Wealth in Huntersville, North Carolina
• European stocks retraced ahead of an ECB policy meeting on Thursday. The STOXX 600 benchmark fell 0.5% but was not far from last month's lifetime peak.

(Source: Reuters)