Posted 10/19/2023, 3:51:27 AM
Stocks Sink, Bond Yields Surge Amid Middle East Tensions and Rate Fears
- Markets gripped by risk aversion amid Middle East tensions and angst over rising bond yields.
- Asia stocks sink 1.5%, set for biggest one-day drop since Sept. Gold stays near 2-month peak.
- Bond sell-off continues, 10-year Treasury yield at highest since 2007, weighing on Asian bond markets.
- Oil prices ease as OPEC shows no support for Iran embargo call.
- Attention turns to Fed Chair Powell speech later today, markets nervous he may strike hawkish tone.
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