Global stocks slide to one-week lows
Shares tumble as declines by long-dated US bond yields and a renewal of trade concerns stoke fears of a downturn in the US
London — World stocks tumbled to one-week lows on Wednesday, as declines by long-dated US bond yields and a renewal of trade concerns stoked fears of a downturn in the world’s biggest economy, the US. US markets are shut to mark former president George HW Bush’s death, but the effect of Wall Street’s turmoil in the previous session, when New York-listed shares tumbled more than 3%, is being felt in Asia and Europe. That pushed MSCI’s all-country index down almost 0.5%. The declines came just a day after an equity surge driven by optimism that China and the US would sort out their trade dispute. Then President Donald Trump threatened “major tariffs” on Chinese imports if his administration failed to reach an effective trade deal with Beijing. “As I look into next year, most expectations for further gains have been pared back. Investors have gone from extended bullishness at the start of the year on equities to an uncomfortable neutrality,” said Paul O'Connor, head of multi-asset at J...
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