World stocks on course for biggest fall of the year
World stocks were set for their biggest daily fall on the year on Thursday after strong US jobs market data bolstered bets of another round of global interest-rate hikes.
World stocks fell for a third straight day, as strong US jobs data bolstered bets on another US interest rate hike this month and tit-for-tat trade salvoes between China and the United States also dampened sentiment.
Traders watched the traditional driver of global borrowing costs, the 10-year US Treasury yield US10YT=RR, climb to a fresh four-month high GVD/EUR as the weekly ADP report on private sector hiring and firing came in stronger than expected.
Record lows on Wall Street
There were plenty more boundaries being tested too ahead of what looked set to be a lower start on Wall Street shortly.
The global stocks selloff .MIWO00000PUS also included a crunching 2.9% drop and near three-month low for Europe's travel and leisure stocks .SXTP - a clear side-effect of recession angst - while Wall Street bank Citi's latest investor poll showed China was the new consensus sell.
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