U.K. Bond Yield Drops to Lowest in a Year as Shares, Oil Decline
- Stoxx Europe 600 Index skids 3.5%, most since August
- Pound falls to weakest level against euro in one year
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U.K. government bonds climbed, pushing down the 10-year yield by the most since July, as the global tumble in stocks added to investor concerns over international economic growth.
Traders also sought the relative safety of gilts as the Stoxx Europe 600 Index of shares fell by the most since August and closed at its lowest level since 2014. Crude oil traded in London and New York fell for a third day after no supply agreement emerged from Venezuela’s tour of producing nations.