FYI: Global stocks dropped Wednesday as trade tensions and concerns around economic growth continued to dampen risk appetite, sending government bond yields lower.
The yield on 10-year U.S. Treasurys extended its decline to 2.228%, from 2.268% on Tuesday, its lowest level since September 2017. Bond yields and prices move in opposite directions.
U.S. futures pointed to opening declines of 0.7% for both the S&P 500 and the Dow Jones Industrial Average.
In Europe, the Stoxx Europe 600 was down 1.4% in midmorning trade, with the U.K.’s FTSE 100 down 1.5% and Germany’s DAX 1.3% lower.
Asian bourses had a largely gloomy session. Korea’s Kospi closed 1.3% lower, hitting a near five-month closing low, while Japan’s Nikkei fell 1.2%. However, China’s Shanghai Stock Exchange gained 0.2%.
Aside from the lingering trade concerns, investors were wary of a potential end to this year’s bull run for equities, which has led most indexes to post double-digit gains, according to Vincent Juvyns, global market strategist at JP Morgan Asset Management.
In commodities, Brent crude oil dropped 1.9% to $67.40 a barrel as data showed U.S. crude stockpiles are growing at their fastest rate since 2016, fueling concerns of oversupply.
Luxembourg-based steelmaker ArcelorMittal was among the biggest losers on the pan-European index, shedding more than 5% after it disclosed plans to cut production in Europe for the second time in a month amid high imports and weak demand.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was flat.
Gold gained 0.5% to $1,283.30 a troy ounce.
Regards
Ted
MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-tumble-as-trade-global-economy-worries-ramp-up-2019-05-29/printWSJ:
https://www.wsj.com/articles/global-stocks-and-treasury-yields-extend-declines-11559117035Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-28/asia-stocks-set-to-decline-as-bond-rally-extends-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-workday-stock-market-correction-soliton-stock/CNBC:
https://www.cnbc.com/2019/05/29/stock-markets-wall-street-monitors-intensifying-global-growth-fears.htmlReuters:
https://www.reuters.com/article/us-global-markets/bond-bulls-boosted-as-trade-tensions-send-recession-signals-idUSKCN1SZ02FU.K.
https://uk.reuters.com/article/uk-britain-stocks/uk-shares-fall-as-trade-conflict-worsens-miners-hit-idUKKCN1SZ0PMEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-tumble-on-china-rare-earth-warning-idUSKCN1SZ0PAAsia:
https://www.marketwatch.com/story/asian-markets-fall-following-wall-streets-lead-2019-05-28/printBonds:
https://www.cnbc.com/2019/05/29/us-bonds-wall-street-monitors-fresh-batch-of-economic-data-auctions.htmlCurrencies:
https://www.cnbc.com/2019/05/29/forex-market-us-china-trade-war-eu-politics-in-focus.htmlOil:
https://www.cnbc.com/2019/05/29/oil-market-us-china-trade-war-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/05/29/gold-market-us-china-trade-war-eu-politics-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx 
