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World shares decline after stocks slip on Wall Street
AP News • • business
Key Points:
- Global stock markets declined sharply following losses on Wall Street and a deepening sell-off in the bond market, with major indices in Europe, Asia, and Australia all falling.
- In Asia, significant drops were seen in Tokyo's Nikkei 225 (-2.9%) and South Korea's Kospi (-4%), driven by declines in major tech and chipmakers like SoftBank, Samsung, and SK Hynix.
- Oil prices rose amid escalating U.S.-Iran tensions and regional military strikes, pushing Brent crude above $94 per barrel, raising concerns about energy supply disruptions through the Strait of Hormuz.
- Bond yields continued to climb due to elevated inflation and government debt, with the 10-year U.S. Treasury yield reaching around 4.81%, its highest since early 2023, signaling increased investor risk aversion.
- The U.S. dollar weakened slightly against the Japanese yen and the euro, reflecting ongoing currency market adjustments amid global economic uncertainties.
