Global stocks drop after comments from Amazon, Apple on Covid-19 impact

US and UK futures slid along with Japanese and Australian shares, and the dollar climbed, after sobering comments from Amazon and Apple about the impact of the coronavirus.

Amazon.com warned of a possible second-quarter loss, while Apple omitted an earnings forecast for the first time in more than a decade. While global stocks posted their best month since 2011 in April — spurred by a slowdown in coronavirus infections and massive stimulus initiatives — earnings announcements and economic data are serving a reminder of lasting pain.

The dollar halted a four-day slide and Treasuries recouped some recent losses amid the risk-off tone Friday. The euro stabilised against the US dollar, while the dollar was down against the Japanese yen, trading at 106.88 yen .