World Stocks Pull Back As Virus Worries Resurface

Stock markets eased back on Thursday as worries that the world has not seen the last of the coronavirus pandemic caused investors to take some profits after a recent strong run.

US data showing 1.5 million workers filed for unemployment benefits last week -- only slightly less than the prior week -- added to jitters about the economic outlook.

In Europe, investors were underwhelmed by the Bank of England's latest monetary policy decisions, which undermined the pound and London stocks.

Wall Street finished little changed after a choppy session, as investors weighed weak economic data against optimism over the impact of monetary stimulus.

Art Hogan, chief market strategist at National Securities, described the market as being "in a bit of a stalemate" with worrisome economic and coronavirus trends offset by reassuring support from the Federal Reserve and hopes for coronavirus treatments.

Global markets were still "a bit cautious as uncertainty regarding a second wave of COVID-19 continues to simmer, countering recent economic data that has suggested improvement as economies reopen," said analysts at Charles Schwab.

Earlier, Asian equity indices had closed mixed after a two-day rally.

The Bank of England on Thursday unveiled an extra ?100 billion of cash stimulus to prop up Britain's coronavirus-hit economy, a figure in line with expectations, but analysts said the market had hoped for some forward-looking reassurance.

"BoE watchers could feel a little short-changed," said Kallum Pickering at Berenberg.

"The market had expected a clear signal that the BoE would ease policy significantly further at a later date or that the bank was seriously contemplating further expanding its toolkit in response to the COVID-19 mega-recession," he said.

While countries are slowly reopening their economies -- with flights resuming, bars, cafes and restaurants serving people and professional football returning -- new infections continue to surge in some places and are flaring up again in others.

Eyes are on Beijing, which has imposed new lockdowns, closed schools and banned flights again after the emergence of new clusters.

Meanwhile, hospitalizations have risen in Texas among other US states since Memorial Day, and California on Thursday required face masks in public indoor spaces following a jump in cases.

New York - Dow: DOWN 0.2 percent at 26,080.10 (close)