Stock market news: Investors see sea of red in Asia; USA, Europe flat
Asian stocks closed in red with feedback alerts in front and mid Monday.
Sold on Friday bleed in Monday trading, but seemed to stop at Asia as US futures and European stocks are mostly flat. Concerns followed an inversion in yield curve last Friday, which signaled the bond market's growing concern for global growth and the US recession.
Weaker industrial data out of Germany and tough movements by the Federal Reserve last week had also dampened the mood.
Investors saw the inversion of three-month to 10-year US Treasury yield curve on Friday, the first since 2007, as a flashing light on global recession that led to a broader stock of stocks.
"Global stocks have been beaten in the last couple of sessions as bond yields have fallen across the board," said Neil Wilson, market analyst at Markets.com. "The slide in dividends last week was a red flag for stocks, and the bond market strongly argued that growth prospects are not safe."
- The Shanghai Composite fell 2% on Monday while Japan's Nikkei dumped 3% as the economy of the country fights through global economic headwinds.
- In the United States, futures are slightly in red with Nasdaq down 0.3%, while Dow and S & P 500 are both 0.1[ads1]% lower.
- The European market is mixed, but mostly flat. Euro Stoxx 50, France CAC and Germany's DAX index have all changed little.
- US 10-year government bonds dived on Friday after the yield curve inversion, but investors have fled the stock markets for bonds Monday, with a rise of 0.4%
- Oil which had previously been strengthened by OPEC + cuts, somewhat reduced among growth fears with Brent down 0.1% and WTI 0.4% lower.
