Global Markets Rattled By Europe Political Jitters: Markets Wrap
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Global markets rattled by Europe political jitters. A selloff in European assets amid heightened political risk hit stocks and bonds around the globe, with investors also positioning for this week’s Federal Reserve decision.
Stocks and bonds dropped across the board after French President Emmanuel Macron called a legislative vote in the wake of a crushing defeat in the European Parliament elections. Yields on France’s 10-year government bonds hit their highest level this year, while shares in the nation’s top banks tumbled almost 10%. The euro led losses in developed world currencies.
“The growing uncertainties in Europe have those markets from across the pond trading lower this morning in a material way,” said Matt Maley at Miller Tabak + Co. “Although it’s hard to decipher what it will mean for the global economy and global markets over the near-term, it does raise uncertainties about the longer term.”
The S&P 500 fell to around 5,330. The yield on 10-year Treasuries advanced two basis points to 4.46%. The dollar rose 0.3%.
Key events this week:
Some of the main moves in markets:
Stocks
Currencies
Cryptocurrencies
Bonds
Commodities
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