World shares dip, dollar set for loss as Bitcoin hits record high

World shares dip, dollar set for loss as Bitcoin hits record high

Picture used for illustrative purpose. World shares dipped on Friday as investors awaited progress towards more US fiscal stimulus, while the dollar was set for a weekly loss and cryptocurrency Bitcoin hit a record high. Markets in China and most of Southeast Asia were closed for the Lunar New Year. China's stock and bond markets, foreign exchange and commodity futures markets are closed through Feb. 17 for the holiday. Futures for the S&P 500 declined 0. 2%. MSCI's All Country World index, which tracks stocks across 49 countries, fell 0. 15% on the day, shy of record highs reached earlier this week. European shares as measured by the STOXX 600 index fell at the start of trading but bobbed higher to trade flat by midday in London. Germany's DAX was down 0. 5%. Italy's FTSEMIB index fell 0. 2% on the day, with the country's bond yields near record lows on hopes of a new government led by former ECB President Mario Draghi. Investors weighed some tepid economic data against increasing COVID-19 vaccinations and the prospect that more government spending and continued cheap money from central banks will drive higher growth and, eventually, inflation. "We're very bullish on equities. Central