Global stocks drop, Treasuries decline as Brent tops $102
MSCI All Country World Index falls 0.2%, pulling further away from its record high after coming within 1.5% of the peak earlier this week
Global stocks continued their decline while Treasury yields rose as oil prices climbed above $102 per barrel, driven by renewed Middle East tensions and a storm disrupting US output. The MSCI All Country World Index fell 0.2%, moving further away from an all-time high. Wall Street and Asian shares also slipped, with global benchmark Brent oil rising 2% to the new high.
The Fed's interest rate hike last month, coupled with inflation concerns, is complicating the outlook. The euro steadied against the dollar amid concerns over France's fiscal situation.
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