Global shares and oil slide as sanctions, coronavirus fears strike
LONDON/HONG KONG (Reuters) – Shares slipped from a one-year peak, sovereign bond yields fell, and oil prices slumped as a wave of coronavirus infections, a fresh lockdown in Germany and U.S. and European sanctions over China combined to curb risk appetite worldwide.
The STOXX index of 600 European shares fell 0.4%, while the benchmark 10-year German government bond yield dropped 4 basis points to -0.351% and gold inched up as investors sought safer assets.
U.S. markets appeared set to inherit the negative mood with S&P 500 futures down 0.4% ahead of Congressional testimony by Fed Chair Jerome Powell and Treasury Secretary Janet Yellen later in the day.
