World stocks struggled and safe haven bets were back in play on Friday with German bond yields plumbing record lows as Chinese data rekindled woes about the health of the global economy and fears of a new U.S.-Iran confrontation intensified.
Equity markets across Europe chalked up hefty losses on the risk-off sentiment, with a warning by U.S. chipmaker Broadcom Inc of a slowdown in demand due to trade tensions and the U.S. ban on Chinese tech and mobile phone company Huawei Technologies exacerbating the glum mood.
Wall Street shares have had a strong run in June on hopes the Federal Reserve will ease monetary policy soon to counter pressure on the U.S. economy from the escalating trade war. The S&P 500 index is up about 5% so far this month.The Fed’s June 18-19 meeting will give investors an opportunity to see if the U.S. central bank’s monetary policy stance matches market expectations for a near-term rate cut.
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