The global market fell on Wednesday after a collapse in government bond markets due to rising yields.
Concerns about rising interest rates sent benchmark US treasury yields to new 16-year highs.
MSCI’s global stock index fell 0.20%. – Global market
Global investors are concerned that rising interest rates may hamper global economic growth.
US stocks
On Wall Street, market indices finished higher on Wednesday.
The S&P 500 rose 34.15 points, or 0.81%, to 4,263.56. The Dow Jones Industrial Average increased 127.17 points, or 0.39%, to 33,129.55. The Nasdaq Composite rose 176.54 points, or 1.35%, to 13,236.01.
The 10-year treasury note yield reached 4.884%, the highest since August 2007, while 30-year treasury yields jumped past 5%.
According to the ADP National Employment Report, private payrolls in the United States increased by 89,000 in September, the fewest in more than two and a half years.
Europe
European equities sank for the third day in a row on Wednesday, driven by commodity-linked firms and retailer shares.
The pan-European STOXX 600 index finished 0.1% lower.
Energy was among the sector losers, falling 2.1% as oil prices plummeted by more than $5 per barrel.
Miners lost 0.9% as metal prices fell.
Retailers saw a 1.7% drop. Banks fell 0.38%.
The FTSE 100 in the United Kingdom fell 0.8% to 7,412.45 points. The DAX in Germany increased 0.1% to 15,099.92. The CAC 40 in France closed unchanged at 6,996.73.
According to a poll, the eurozone economy likely contracted in the fourth quarter.
Energy costs
On Wednesday, the US crude oil benchmark for November delivery declined $5.01 to $84.22 per barrel. Brent crude futures for December delivery fell $5.11 to $85.81 a barrel.
Currencies
The US dollar was trading at 149.05 Japanese yen, up from 148.88. The euro jumped from $1.0474 to $1.0504.
Asia
Japan and South Korea led the strong falls in Asian stock markets on Wednesday.
The Hang Seng index in Hong Kong fell 0.8% to 17,195.84.
The Nikkei 225 in Japan lost 2.3% to 30,526.88.
The mainland Chinese stock exchanges were closed for a week-long holiday.
The South Korean benchmark Kospi fell 59.38 points, or 2.41%, to 2,405.69.
The S&P/ASX 200 index in Australia slid 0.8% to 6943.4. The benchmark S&P/NZX 50 index in New Zealand lost 0.01% to 11235.72.
