Business this week
- Date: 29-Oct-2020
- Source: The Economist
- Sector:Economy
- Country:user-top-picks
Business this week
The prospect of a resurgence in covid-19 and new lockdowns made it a rocky week for stockmarkets. On Wall Street the S&P 500 and Dow Jones Industrial Average each fell by 3.5% in a day, the Nasdaq by 3.7%. The FTSE 100 dropped by 2.6%. The sell-off was even sharper in French and German markets. Oil prices also plunged; Brent crude fell to $39 a barrel.Ant Group set the share prices for its forthcoming dual listing in Hong Kong and on Shanghai's tech-focused Star market. The Chinese fintech firm's initial public offering could raise more than $34bn, which would vault it ahead of Saudi Aramco's debut last year to make it the world's biggest-ever IPO of stock.A spanner in the worksAmerica rejected the candidacy of Ngozi Okonjo-Iweala, a former Nigerian
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