Global Markets Mostly Down on Rate Fears; China an Exception
• European markets declined this week due to surging bond yields and hawkish Fed comments on interest rates • US markets also dropped as strong economic data reduced hopes for a June rate cut • Asian markets mostly fell, except for Chinese stocks which rose on positive economic data • Energy and mining sectors outperformed in Europe; tech shares were mixed • Inflation data showed cooling in Europe, sparking optimism of an ECB rate cut in June