Global Stocks Fall Most Since February, Yen Surges to 2014 High
Stocks around the world fell by the most in almost two months, while the yen surged to the strongest since 2014 and government bonds rallied as heightened concern that global growth is faltering drove investors into haven assets.
U.S. stocks capped the biggest two-day slump since Feb. 9 as Allergan Plc plunged amid a government clampdown on tax inversions that hurt shares from banks to biotechnology.
Utilities led declines in the Standard & Poor’s 500 Index as the yield on the 10-year Treasury note touched the lowest in more than a month. Japan’s yen jumped to a 17-month high versus the dollar, while gold advanced the most in a week.
Investors are turning cautious after worse-than-expected economic data in the U.S. and Germany this week, and comments from International Monetary Fund head Christine Lagarde highlighting greater risks to the global economy.
That marks a reversal from optimism last month, when dovish comments from Federal Reserve Chair Janet Yellen helped add $4.5 trillion to the value of global equities. The U.S. central bank releases the minutes from its latest meeting on Wednesday.
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http://www.bloomberg.com/news/articles/2016-04-04/japan-stock-futures-fall-amid-yen-gains-as-crude-extends-selloff
