Global stock markets closed in the red zone on Thursday (July 16) as escalating numbers of coronavirus cases raised fears of a slower than expected economic recovery. Wall Street closed in the red, and the Dow snapped a 4-day rally. On the macro side, jobless claims in the United States (US) rose by more than 1 million for the 17th week in a row, triggering fears of a higher-than-expected permanent employment loss. On the policy side, Senate Majority Leader Mitch McConnell said he aims to start rolling out further COVID aid next week.
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