Stocks open broadly lower on Wall Street as a rally that drove the market higher over the past three weeks loses steam.
A man wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, June 9, 2020. Asian shares were mixed on Tuesday after the Nasdaq hit a record high.
Benchmarks fell in Paris, London and Tokyo on Tuesday and U.S. futures also declined. Analysts say the recent rally may be overdone given uncertainties over the pandemic and economic recoveries. In Asian trading, Japan’s benchmark Nikkei 225 lost 0.4% to finish at 23,091.03 and India’s Sensex declined 0.6% to 34,160.33.
In Japan, the government reported that wages fell in April as the country widened precautions to fight the coronavirus pandemic, causing some businesses to close or limit their operations. And with coronavirus infections still rising in the U.S. and many other countries, the outlook for the pandemic remains unclear.
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