US stocks suffered their worst falls in more than six years on Monday in a sell-off sparked by concerns of higher interest rates. Via BBC News (06 Feb.) The Dow Jones Industrial Average index tumbled 1,175 points, or 4.6% to close down at 24,345.75. Investors are reacting to changes in the outlook for the American and global economy, and what that might mean for the cost of borrowing.
The biggest global equity selloff in two years continued to pick up momentum as US stock futures kept falling and exchanges across Asia posted losses. The equity downturn came as the yield on the benchmark 10-year Treasury hit a four-year high. Bloomberg (05 Feb.) Reuters (05 Feb.)