Stocks sink as investors await earnings, U.S. data

Stocks sink as investors await earnings, U.S. data

Britain's domestically focused FTSE mid 250 index slipped 0.6%, but held below a record high as shops, pubs, gyms and hairdressers re-opened after three months of lockdown.The UK's more export-oriented FTSE 100 fell 0.9%, Germany's DAX slipped 0.1% and France's CAC 40 fell 0.2%. Italy's FTSE MIB was the sole gainer, up 0.05%. The VIX volatility index, also known as Wall Street's "fear gauge", ticked slightly higher to 17.44, having hit its lowest level since March 2020 on Friday. "The drop indicates that investor sentiment is improving amid a perception of receding market risk," strategists at BCA Research said in a note to clients. "This progress is in line with other market developments: the S&P 500 is forging all-time highs and Treasury bond yields have been climbing since August, buoyed by the improving economic outlook."Earlier in Asia, Tokyo's Nikkei edged down 0.6%. South Korean stocks were near flat.The Nifty 50 index slid 2.4% as India overtook Brazil to become the country with the second most COVID-19 cases.Chinese blue chips lost 1.5% before a series of economic figures from the country.Shares in Alibaba Group Holding Ltd rose 16% after China imposed a record 18 billion-yuan ($2.75 billion) fine on the e-commerce giant. Over