Global stocks dropped and government bond yields in Germany, Japan and the U.K. hit all-time lows as a range of political and economic uncertainties continued to take a toll. Futures markets pointed to a 0.7% opening loss for the S&P 500. Changes in futures don’t necessarily reflect market moves after the opening bell.
The Stoxx Europe 600 dropped 2.1% in afternoon trade, wiping out all gains for the week as shares of banks and energy companies declined. Uncertainty over the U.S. economy, central bank policy, and an upcoming U.K. referendum combined to spark a wave of risk aversion in global markets towards the end of the week, supporting assets and currencies perceived as safe. READ MORE