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World Shares Retreat Despite Strong Growth Data From China

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A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Jan. 18, 2021. Shares fell Monday across most of Asia following a retreat on Wall Street, but benchmarks in Hong Kong and Shanghai rose after data showed the Chinese economy grew a solid 2.3% in 2020. (AP Photo/Vincent Yu)

World markets have gotten off to a slow start for the week following a retreat last week on Wall Street, despite news that the Chinese economy grew 2.3% in 2020. Shares fell in Paris, London and Tokyo but advanced in Hong Kong and Shanghai. Most U.S. markets are closed Monday for a national holiday. Investors appear to have grown increasingly wary, with reports showing deepening economic devastation from the pandemic. The S&P 500 fell 0.7% Friday and other benchmarks also declined. Overall, stocks seem to have run out of steam since setting records recently on optimism over COVID-19 vaccines and more stimulus from Washington.

 

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