European stocks slumped and the euro fell on Monday after the worsening energy crisis of the region would add to the risks for a global economy already facing high inflation and a wave of monetary tightening.
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The Stoxx Europe 600 index fell after Russia’s Gazprom PJSC indefinitely halted its key gas pipeline, although the benchmark recovered from its worst levels as energy shares rose.
Wall Street stock futures advanced after the worst week for global stocks since June. Treasury bonds and US stocks they did not register movements due to the Labor Day holiday in the US.
Some of the main movements in the markets: Stocks S&P 500 futures were up 0.3% at 4:36 pm New York time. Dow Jones Industrial Average futures advanced 0.4%. The MSCI World Index fell 0.3%. Nasdaq 100 futures rose 0.3%. The MSCI Asia Pacific Index fell 0.5%. Currencies The Bloomberg Dollar Spot index rose 0.2%. The euro fell 0.3% to $0.9929. Sterling was little changed at $1.1518. The Japanese yen fell 0.3% to 140.57 per dollar. The offshore yuan fell 0.4% to 6.9444 per dollar.
Global economy
bonuses
German 10-year bond yield advanced four basis points to 1.56%. Britain’s 10-year bond yield rose two basis points to 2.94%.
(Also: Oil production cut shakes the oil market).
Raw Materials
West Texas Intermediate Crude rose 2.2% to US$88.82 a barrel. Gold futures were little changed.
BLOOMBERG
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