Equity markets experienced a string of declines from the gloomy purchasing management index (PMI) data readings in the European zone prompting investors to reconsider economic growth prospects.
The risk-off sentiment also made the major gauge currency grab its highest level while pushing another number to a 20-year low.
MSCI’s worldwide stock gauge was down 0.49%, yet still above its June 17 low while the pan-European STOXX 600 closed 2.11%weaker.
Wall Street indices slumped before returning slight gains in the closing session with the Dow Jones Industrial Average falling 129.44 points (0.42%) at 30,967.82, the S&P 500 reaching 6.06 points (0.16%) at 3,831.39 and the Nasdaq Composite adding 194.39 points (1.75%). at 11,322.24.
On the other hand, Treasury yields capitalized on weak market sentiment for the 10 -year note to rise 22/32 in price to a yield of 2.8236% while the 2 -year note climbed 1/32 in price to a yield of 2.8225%.
The gain also helped the safe-haven dollar strengthen 1.31%, reaching its highest level since December 2002, while the Euro slipped 1.8% at $ 1.0236 marking the biggest fall in 20 years.
The Yen was down 0.15% against the greenback at 135.91 and Sterling was trading 1.21% lower at $ 1.1959.
As for commodities, futures declined with news of a strike in Norway that would cut oil and gas production thus adding to concerns about European energy shortages.
It has made United States (US) crude oil down 8.24% at $ 99.50 and Brent crude oil down 9.45% at $ 102.77.
Spot gold plunged 2.4% to $ 1,765.70 per ounce while Bitcoin (BTC) rose 1.6% to $ 20,626.50.
