{"id":47871,"date":"2016-02-08T23:21:31","date_gmt":"2016-02-08T21:21:31","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=47871"},"modified":"2016-02-08T23:21:31","modified_gmt":"2016-02-08T21:21:31","slug":"global-shares-tumble-on-global-growth-concerns-treasury-yields-fall","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=47871","title":{"rendered":"Global shares tumble on global growth concerns; Treasury yields fall"},"content":{"rendered":"<p dir=\"ltr\"><strong>Stock indexes worldwide tumbled on Monday, led by banking stocks in Europe and technology stocks on Wall Street on persisting fears of a global economic slowdown, while benchmark 10-year Treasury yields hit their lowest in a year on demand for assets deemed less risky.<\/strong><\/p>\n<p dir=\"ltr\"><strong>European shares extended the previous week&#8217;s big losses, with the FTSEurofirst 300<a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=gb%21FTPP\">.FTEU3<\/a> index of top regional shares falling more than 3 percent to its lowest in 16 months. Cyclical sectors such as banking and automobiles bore the brunt of the selloff.<\/strong><\/p>\n<p dir=\"ltr\">The STOXX Europe 600 banking index .SX7P tumbled over 5.5 percent, putting the index&#8217;s losses for this year at more than 24 percent on concerns about banks&#8217; profit outlook amid a negative rate environment.<\/p>\n<p dir=\"ltr\">Wall Street continued Friday&#8217;s technology-led selloff, with the benchmark S&amp;P 500 stock index <a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=us%21spx\">.SPX<\/a> falling more than 2 percent. The S&amp;P financial index .SPSY fell about 3 percent, with shares of Bank of America (<span id=\"symbol_BAC.N_4\"><a href=\"http:\/\/www.reuters.com\/finance\/stocks\/overview?symbol=BAC.N\">BAC.N<\/a><\/span>), JPMorgan (<span id=\"symbol_JPM.N_5\"><a href=\"http:\/\/www.reuters.com\/finance\/stocks\/overview?symbol=JPM.N\">JPM.N<\/a><\/span>) and Citigroup (<span id=\"symbol_C.N_6\"><a href=\"http:\/\/www.reuters.com\/finance\/stocks\/overview?symbol=C.N\">C.N<\/a><\/span>) dragging down the index.<\/p>\n<p dir=\"ltr\">The cost of insuring the European financial sector&#8217;s senior debt against default also climbed to its highest level since late 2013.<\/p>\n<p dir=\"ltr\">U.S. crude prices fell after a meeting between Saudi Arabia and Venezuela failed to reassure investors of measures to bolster sagging prices.<\/p>\n<p dir=\"ltr\">Shares of Chesapeake Energy (<span id=\"symbol_CHK.N_7\"><a href=\"http:\/\/www.reuters.com\/finance\/stocks\/overview?symbol=CHK.N\">CHK.N<\/a><\/span>) fell over 50 percent to their lowest levels since 1999 after sources told Reuters that the natural gas company had tapped existing adviser Kirkland &amp; Ellis to explore restructuring options.<\/p>\n<p dir=\"ltr\">&#8220;We need oil to stabilize to provide some confidence for investors, partly because to a degree, investors&#8217; stress is high, earnings visibility is low, and market internals continue to weaken,&#8221; said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.<\/p>\n<p dir=\"ltr\">Brent crude was last down 37 cents, or 1.09 percent, at $33.69 a barrel. U.S. crude was last down 47 cents, or 1.52 percent, at $30.42 per barrel.<\/p>\n<p dir=\"ltr\">MSCI&#8217;s all-country world equity index, which tracks shares in 45 nations, was last down 7.5 points, or 2.05 percent, to 359.07.<\/p>\n<p dir=\"ltr\">The Dow Jones industrial average <a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=us%21dji\">.DJI<\/a> fell 379.37 points, or 2.34 percent, to 15,825.6, the S&amp;P 500 <a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=us%21spx\">.SPX<\/a> lost 45.32 points, or 2.41 percent, to 1,834.73 and the Nasdaq Composite<a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=us%21comp\">.IXIC<\/a> dropped 130.44 points, or 2.99 percent, to 4,232.71.<\/p>\n<p dir=\"ltr\">Europe&#8217;s broad FTSEurofirst 300 index <a href=\"http:\/\/www.reuters.com\/finance\/markets\/index?symbol=gb%21FTPP\">.FTEU3<\/a> was last down 3.66 percent at 1,236.11.<\/p>\n<p dir=\"ltr\">Many Asian share markets were shut for the Lunar New Year holiday. Chinese markets will remain shut this entire week.<\/p>\n<p dir=\"ltr\">Benchmark 10-year Treasury yields reached a one-year low of 1.7400 percent US10YT=RR, as the stock market decline and concerns about slowing global growth increased investor appetite for safe-haven government debt.<\/p>\n<p dir=\"ltr\">U.S. 10-year Treasury notes were last up 30\/32 in price to yield 1.7431, from a yield of 1.848 percent late Friday.<\/p>\n<p dir=\"ltr\">&#8220;Weakness in global equities is adding pressure on Treasuries,&#8221; said Ian Lyngen, senior government bond strategist at CRT Capital in Stamford, Connecticut, in reference to yields.<\/p>\n<p dir=\"ltr\">The dollar fell to a roughly 14-month low against the yen of 115.170 yen <a href=\"http:\/\/www.reuters.com\/finance\/currencies\/quote?srcCurr=JPY&amp;destCurr=USD\">JPY=EBS<\/a>, partly on doubts about the effectiveness of the Bank of Japan&#8217;s negative interest rate policy.<\/p>\n<p dir=\"ltr\">Safe-haven spot gold reached a peak of $1,198.70 an ounce, its strongest since June 22.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock indexes worldwide tumbled on Monday, led by banking stocks in Europe and technology stocks on Wall Street on persisting fears of a global economic slowdown, while benchmark 10-year Treasury yields hit their lowest in a year on demand for assets deemed less risky. European shares extended the previous week&#8217;s big losses, with the FTSEurofirst &hellip;<\/p>\n","protected":false},"author":3,"featured_media":47876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-47871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global shares tumble on global growth concerns; Treasury yields fall - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=47871\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global shares tumble on global growth concerns; Treasury yields fall - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"Stock indexes worldwide tumbled on Monday, led by banking stocks in Europe and technology stocks on Wall Street on persisting fears of a global economic slowdown, while benchmark 10-year Treasury yields hit their lowest in a year on demand for assets deemed less risky. 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