European equities slide as banks slump and oil pushes bond yields higher
European stocks fell Thursday, with bank shares down over 2% and the Stoxx 600 near a four-month low as oil prices above $100 lifted bond yields and stoked inflation worries.
Global equity markets slipped on Thursday, as the S&P 500 fell roughly 0.5% and the Nasdaq lost close to 1.3% amid a surge in oil prices and still-high sovereign bond yields. The rise in oil revived concerns about inflation and supply disruptions, while bond markets saw a modest pullback in yields after a strong 30-year auction. Technology stocks lagged, especially chipmakers, after a report that OpenAI’s annualized revenues were lower than previously signaled.
European indices, including the pan-European STOXX 600 and France’s CAC-40, also declined, reflecting broader market pressure. Analysts noted that the market remains sensitive to potential contagion and may look to monetary interventions for support.
How this story developed
- Sep 21 30-year U.S. Treasury Yield Hits 2002 High Amid Widening Debt Sell-off
- Sep 30 Japanese equities rose alongside broader Asian stocks while markets awaited key US inflation figures that could steer interest-rate policy.
- Oct 2 South Korean equities opened slightly lower on Friday, with the KOSPI down about 0.15% despite gains on Wall Street.
- Oct 7 Nasdaq closed at a record high and Japan lifted its 10‑year bond coupon to 3.1%.
- Oct 7 The Treasury announced plans to sell a $39 billion block of 10‑year notes.
- Oct 8 The market recorded a third straight day of losses.
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