Economics
Stocks Slide With Pound Amid Renewed Worries Over Global Growth
- Bond yields drop to fresh lows as U.S. returns from holiday
- Asian index futures signal more losses amid yen’s advance
Does the Rally in Silver Have Legs?
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Stocks slid with the pound as signs of slowing growth in Europe and comments from Bank of England Governor Mark Carney rekindled anxiety over the global economic outlook. Bond yields tumbled to all-time lows, while crude oil sank.
Commodity producers and lenders were among the biggest drags on the S&P 500 Index Tuesday, as 10- and 30-year Treasury yields dropped to unprecedented levels. Sterling slumped to its weakest point since 2013 against the euro after Carney said risks from the U.K.’s vote to leave the European Union had started to crystallize. U.S. crude dropped below $47 a barrel after the world’s top oil trader said prices won’t rise much further.