Markets mostly fell on Tuesday.
The S&P 500 fell 0.5 percent and the STOXX Europe 600 fell 0.2 percent.
Earlier in Asia, markets were mixed. The Nikkei 225 rose 0.4 percent but the Shanghai Composite fell 0.2 percent.
“Euphoria is understandable, but unsustainable,” strategists at French bank Societe Generale wrote in a note. “The surge of COVID cases in the US and Europe’s second lockdown guarantee global economic weakness for several more months.”
Similarly, Felicity Emmett, a senior economist at ANZ, wrote in a Tuesday note that “the current virus surge is stifling near-term growth prospects”.
Indeed, a Reuters poll showed that economists think that the euro zone is on track for a double-dip recession.
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