(Bloomberg) -- Stocks dipped Friday from all-time highs as restrictions to curb escalating coronavirus infections dented some of the optimism around earnings and the prospect of additional stimulus. The dollar edged higher.Equities in Hong Kong slid after a report that an area of the city would go into lockdown. Japanese stocks were modestly lower. S&P 500 and Nasdaq 100 futures slipped after U.S. shares eked out a record high Thursday as tech stocks advanced. European contracts pointed lower. Treasuries were steady.President Joe Biden, who is pushing for nearly $2 trillion in additional fiscal spending, unveiled a national strategy to combat the coronavirus while warning the pandemic will worsen before it improves. In Hong Kong, local media reported officials will for the first time lock down tens of thousands of residents in a bid to contain a worsening outbreak.“Hong Kong headlines have fuelled a bit of a risk-off tone in markets,” said Mingze Wu, currency trader at StoneX Group in Singapore. “Now that the party is over with Joe Biden’s inauguration, we’re back to looking at reality again, with the virus spread dominating headlines.”This week’s global equity rally, spurred by expectations of more economic support and the rollout of vaccines, is pausing as traders weigh still troubling Covid-19 trends. European Central Bank President Christine Lagarde warned the virus continues to pose a serious risk after policy makers voted to keep pumping unprecedented amounts of stimulus into the economy.Biden cautioned that another 100,000 lives could be lost over roughly the next month in the U.S. The nation’s infectious-disease chief Anthony Fauci said the seven-day average of new U.S. infections suggests the virus “might actually be plateauing.” Germany’s coronavirus fatalities passed 50,000 while the U.K. suffered its worst day in the pandemic.Elsewhere, oil slid as commodities weakened amid Friday’s risk-off mood. Bitcoin fluctuated around $30,000 after earlier tumbling below that level, as the controversial boom in digital coins fizzles.These are the main moves in markets:StocksS&P 500 futures lost 0.3% as of 2:53 p.m. in Tokyo. The gauge closed little changed on Thursday.Japan’s Topix index slipped 0.1%.Hang Seng index declined 1.3%.Shanghai Composite lost 0.4%.South Korea’s Kospi fell 0.2%.Euro Stoxx 50 futures dropped 0.4%.CurrenciesThe Bloomberg Dollar Spot Index climbed 0.1%.The yen was at 103.58 per dollar, dipping 0.1%.The offshore yuan dropped 0.1% to 6.4745 per dollar.The euro bought $1.2171, a climb of 0.1%BondsThe yield on 10-year Treasuries held at 1.11%.CommoditiesWest Texas Intermediate crude was at $52.45 a barrel, down 1.3%.Gold dropped 0.4% to $1,863.11 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.