NEW YORK (Reuters) – Investors rushed into the safety of U.S. government bonds on Wednesday, muting a broad stocks rally as fears of a global recession grew.
Yields on the benchmark 10-year Treasury note fell to their lowest levels since October 2016, and gold soared to a six-year high, while riskier assets like stocks and oil slid.
On Wall Street, the Dow Jones Industrial Average opened more than 500 points lower, helping erase gains in European shares, before ending the day close to where it started.
MSCI’s gauge of stocks across the globe gained 0.16%.
“Bonds are being bought in a panic mode,” said Andrew Brenner, managing director at National Alliance Capital Markets.
The Dow Jones Industrial Average fell 22.45 points, or 0.09%, to 26,007.07, the S&P 500 gained 2.21 points, or 0.08%, to 2,883.98 and the Nasdaq Composite added 29.56 points, or 0.38%, to 7,862.83.
The pan-European STOXX 600 index rose 0.24%.
There were few clear reasons for the afternoon rebound in U.S….
Source news reuters.com, click here to read the full news.
