Global equities markets waver on fears of second wave of infections

A second wave of infections would likely snuff out the rally in equity markets as investors position for a severe and prolonged global recession.

NEW YORK: Global equities wavered on Monday as investors weighed a jump in coronavirus cases in South Korea and Germany against signs that more parts of the U.S. economy could soon emerge from economic lockdown. Safe havens such as U.S. Treasuries edged higher in anticipation of further stimulus measures to limit the damage of the COVID-19 pandemic.

A second wave of infections would likely snuff out the rally in equity markets as investors position for a severe and prolonged global recession.