Global markets tumble to four-week low

Business | 21 Jun 2021 4:42 pm

Global stocks dropped to a four-week low on Monday after last week's surprise hawkish shift by the U.S. Federal Reserve reduced the allure of riskier assets, while the dollar held gains and stood near a 10-week high, Reuters reports.

European stocks opened lower, but the pan-European STOXX 600 index erased early losses to trade flat on the day, helped by a rise in German and Italian shares.

Britain's FTSE 100 was off 0.05 percent, France's CAC 40 index fell by 0.3 percent, and Spain's IBEX 35 fell by 0.6 percent.

MSCI's All Country World Index, which tracks shares across 49 countries, was down by 0.3 percent and traded at its lowest since May 24.

The benchmark 10-year U.S. Treasury yields fell to the lowest since February 24 at 1.3540 percent, while those on 30-year bonds slid as low as 1.9290 percent for the first time since February 11.



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