World stocks on course for biggest fall of the year


World stocks fell for a third straight day, as strong US jobs data bolstered bets on another US interest rate hike this month and tit-for-tat trade salvoes between China and the United States also dampened sentiment.

Traders watched the traditional driver of global borrowing costs, the 10-year US Treasury yield US10YT=RR, climb to a fresh four-month high GVD/EUR as the weekly ADP report on private sector hiring and firing came in stronger than expected.

MARKET DATA at the Tel Aviv Stock Exchange. (credit: AMIR COHEN/REUTERS)

Record lows on Wall Street

There were plenty more boundaries being tested too ahead of what looked set to be a lower start on Wall Street shortly.

The global stocks selloff .MIWO00000PUS also included a crunching 2.9% drop and near three-month low for Europe’s travel and leisure stocks .SXTP – a clear side-effect of recession angst – while Wall Street bank Citi’s latest investor poll showed China was the new consensus sell.