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Home / Business / Shares fall, bonds grow and trade badly: markets collapse

Shares fall, bonds grow and trade badly: markets collapse



(Bloomberg) – US equities fell and government bonds rose, indicating a temporary recovery on Tuesday. Worries over the health of the world economy kept investors nervous in the face of the trade war.

The S & P The 500 Index fell for the sixth time in eight sessions, after US retail sales and factory numbers missed estimates, contributing to concerns over growth after statistics showed that China's economy was losing momentum. Stocks rallied slightly on Tuesday after a sell-off, but progress on a deal remained elusive. Tensions in the Middle East over US-Iran relations also increased and increased demand for ports.

Government bonds rose, bringing the two-year yield to its lowest level since February 2018, while the 10-year rate fell to 2.36%. , Oil fell and gold rose, while the Japanese yen and Swiss franc rose against the dollar.

"Commerce is now by far the more prevalent story, but sales should not go unnoticed until consumer confidence yields later this week." said Mike Loewengart, vice president of investment strategy at E * TRADE Financial. "Many see retailing as an important economic factor, and so the sector's weakness could give the bear more room."

US economic data unexpectedly weak on data suggesting a slowdown in China's growth, investors feared on Wednesday that the trade war could weigh on an already volatile global economy. There are also growing tensions in the Middle East.

Elsewhere, oil eased as an industry report indicating an increase in US inventories eased concern over a supply crisis after a drone attack in Saudi Arabia exposed the country's vulnerability to energy infrastructure.

There are a few notable events this week:

This week's revenue includes Cisco, Nvidia. The Indonesian bank has made an interest rate decision on Thursday.

And here are the main market moves:

shares

The S & P 500 index fell 0.6% from 9:30 am New York time. The Stoxx Europe 600 Index fell 0.5%. The German DAX index fell 0.9%. The MSCI Emerging Market Index fell 0.1%. The MSCI Asia Pacific Index gained 0.5%, its biggest gain in six weeks.

Currencies

The Bloomberg Dollar Spot Index rose 0.2%, its highest level in nearly three weeks. The euro fell 0.2% to $ 1,1184. the weakest in almost two The British pound fell 0.4% to $ 1.2860, the weakest in nearly three months. The Japanese yen rose 0.3% to $ 109.27, the strongest in nearly 15 weeks.

Bonds

The yield on 10-year government bonds fell four basis points to 2.37%, the lowest in seven weeks. Germany's 10-year yield fell six basis points to -0.13%, the lowest in more than two years. Britain's 10-year yield fell seven basis points to 1.034%, bottoming out in six weeks.

Commodities

West Texas Intermediate crude dropped 1% to $ 61.11 a barrel. Gold rose 0.3% to $ 1,300.10 per ounce.

– With support from Charlotte Ryan and Vildana Hajric.

Contacting reporters on this story: Todd White in Madrid at twhite2@bloomberg.net; Randall Jensen in New York at rjensen18@bloomberg.net

Contacting editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Yakob Peterseil

For more articles of this nature, visit bloomberg.com

© 2019 Bloomberg LP


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