Global markets hit by rising US bond yields
Tech shares are vulnerable because their lofty valuation has been supported by expectations of a prolonged period of low interest rates.
04 March 2021 - 12:13
London — Worries about lofty US bond yields hit global shares on Thursday as investors waited to see if US Federal Reserve chair Jerome Powell would address concerns about a rapid rise in long-term borrowing costs.
The spectre of higher US bond yields also undermined low-yielding, safe-haven assets, such as the yen, the Swiss franc and gold...
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