Global stock markets closed in red on Tuesday (July 7) as a spike in COVID cases in the US, and Australia dampened reopening and recovery hopes. United States’ (US) economic optimism fell further to 2015-low this month, likely reflecting concern about surging Covid-19 cases, especially across the Sun Belt. Deepening economic pessimism raises the stakes for the next fiscal stimulus as the $600 weekly boost to unemployment benefits is set to expire July 31.

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