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- Stock market fall, bonds and volatility rise – market wrap
Stock market fall, bonds and volatility rise - market wrap
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Loading...European and Asian equity markets slumped in the wake of the worst day in eight months for U.S. stocks as investors rushed to the safety of bonds.
As the turmoil surrounding Trump threatens to derail the policy agenda that helped push global equities to records as recently as Tuesday, a gauge of U.S. stock volatility surged the most since the U.K. voted to leave the European Union last June. Many of the trades sparked by the president’s November election have now reversed, with the dollar all but erasing its post- election rally.
Here are the major moves in the markets:
Indices:
- The Stoxx Europe 600 Index declined 1 percent as of 11:22 a.m. in London, after tumbling 1.2 percent on Wednesday for the biggest drop since September.
- Futures on the S&P 500 fell 0.3 percent after the benchmark gauge fell 1.8 percent on Wednesday, its worst day since Sept.9.
Currencies
- The Bloomberg Dollar Spot Index increased 0.2 percent, after dropping 0.5 percent on Wednesday to the lowest level since Nov.8.
- South Africa’s rand led declines among emerging-market currencies, slumping 2.3 percent. Mexico’s peso weakened 1.9 percent.
- The euro fell 0.3 percent to $1.1122, after four straight days of gains. The British pound jumped 0.5 percent to $1.3036 after data showed retail sales rose more than expected in April.
Commodities
- Gold was little changed at $1,262.16 an ounce, erasing a decline of as much as 0.6%
- Nickel led a retreat in industrial metals, dropping 2 percent to $9,030 a ton as political turmoil in the U.S. threatened the outlook for the world’s biggest economy.
- West Texas crude dropped 2 percent to $48.06 a barrel, after jumping 0.8 percent in the previous session.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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