July 31, 2021
Economy

Fears over Delta variant shake global markets

European equities were heading for their worst session of the year as the growing threat of the Delta coronavirus variant triggered falls in global share markets and commodities, while investors sought havens in government bonds and gold.

Europe’s region-wide Stoxx Europe 600 lost 2.7 per cent, the biggest drop since October, while London’s FTSE 100 shed 2.6 per cent and was on course for its biggest one-day percentage fall since September.

On the other side of the Atlantic, the US blue-chip S&P 500 index lost 1.7 per cent and the technology-focused Nasdaq Composite fell 1.5 per cent. In commodities, Brent crude, the international oil benchmark, fell 5.7 per cent to $69.45 a barrel.

The US 10-year bond yield — a benchmark for assets around the world — tumbled by 0.12 percentage points to 1.18 per cent, its lowest since early February. German 10-year yields…

Read full article here: www.ft.com