Stocks slink back as virus outbreaks dim recovery hopes
By STAN CHOE AP Business Writer
NEW YORK (AP) — U.S. stocks are dipping modestly in early trading Tuesday as expanding coronavirus outbreaks dim hopes for a speedy recovery. The S&P 500 and Dow Jones Industrial Average followed benchmarks in France, Germany and Britain lower after the European Union slashed its economic forecasts for 2020 and 2021. Investors worry that recovery from the global recession and the lockdowns on businesses will take longer than expected. Stocks also fell in Tokyo, Seoul and Hong Kong, while the Shanghai Composite index advanced. Precious metals and crude oil prices also fell, as did the 10-year Treasury yield.