Markets slide as bond selloff spooks investors – business live


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7.01am GMT

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Global Bond Market rout

Bond yields pushing higher around the globe with the U.S. and U.K. leading the way

U.S. stocks fell sharply Thursday as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names.
The Dow dropped 1.8%.
The S&P 500 fell 2.5%.
The Nasdaq tumbled 3.5%.

European Opening Calls:#FTSE 6584 -1.03%#DAX 13724 -1.12%#CAC 5712 -1.24%#AEX 653 -1.69%#MIB 22776 -1.25%#IBEX 8229 -1.07%#OMX 2011 -1.35%#STOXX 3636 -1.33%#IGOpeningCall

Investors dropped their sovereign bond holdings like a hot potato as all new piece of data pointed at improvement in economic conditions and called for rising inflation.

Equities dived along with the sovereign bonds. Nasdaq led losses with a sizeable 3.52% drop as tech stocks fell big as a result of a mass migration from growth to value stocks. Nike, Caterpillar, Johnson & Johnson and Goldman Sachs were among the rare stocks finishing the session higher. Apple, Microsoft and Disney fell, as Tesla shed 8%.

European stock futures slide over 1% as surging bond yields roil equity markets

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