Global Stocks Down With US Jobs, Oil Rally In Focus

A currency trader checks the temperature of his colleague at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, April 3, 2020. Asian stocks were mixed Friday after Wall Street gained for the first time in three days on stronger oil prices despite enduring uncertainty about how long the global economic decline due to the coronavirus pandemic will last. (AP Photo/Ahn Young-joon)

(AP) — Global stocks are lower on evidence of soaring U.S. job losses and anxiety over the global slump caused by the pandemic. Markets in Europe are trading lower after Asia largely closed down. Wall Street futures are down almost 1%. The U.S. government reported 6.6 million Americans applied for unemployment benefits this week, raising the number thrown out of work over the past month to nearly 10 million. A monthly jobs report is due Friday and expected to also show loosses. The price of oil, meanwhile, edge up further a day after the U.S. benchmark jumped nearly 25% on hopes for a global deal to reduce excess output.

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