RPT-GLOBAL MARKETS-Rush into US bonds sinks global stock markets; gold touches 6-year high
A rush into the safety of U.S. government bonds smothered a broad rally in global stocks Wednesday as spiraling fears of a global economic recession gripped markets. Yields on the benchmark 10-year Treasury fell to their lowest levels since October, 2016, and gold soared to a six-year high, while riskier assets like stocks and oil prices nosedived. On Wall Street, the Dow Jones Industrial Average opened more than 500 points lower, helping erase earlier gains in European shares.
Published:8/7/2019 10:09:55 AM