World shares decline on weak U.S. retail sales

Global share markets recorded a subdued session on Wednesday. This followed after weak retail sales in the United States heightened concerns that surging COVID-19 cases would restrict the global economy from staging a brisk recovery.  

In Asia, U.S. S&P futures recorded a 0.3% plunge on Wednesday. This came after the S&P 500 declined 0.48% on Tuesday. Meanwhile, Europe’s Euro Stoxx 50 futures were seen 0.2% lower.

MSCI’s broadest index of Asia-Pacific shares made minimal movements, drawing support from countries within the region that implemented commendable pandemic approach. Japan’s benchmark index Nikkei tallied a 0.76% decline.

According to a report released by the U.S. Commerce Department, spending was decelerating as shopping season approaches. Moreover, investors’ sentiment was dragged by coronavirus-related mandates implemented by several U.S. states.