Posted 10/20/2023, 9:07:00 AM
Global Markets Tumble Amid Rising Rates and Geopolitical Tensions
- U.S. government bond yields hit 5% for the first time since 2007 amid rising Middle East tensions
- Stocks sink again globally, with Europe down 1% and Asia hitting 11-month low
- Bank of Japan intervenes in bond market as 10-yr JGB yield hits decade high
- Gold climbs to 3-month peak on safety buying; oil heads for 2nd weekly gain
- Emerging markets hit 11-month lows on higher global borrowing costs and geopolitical worries