US. stocks declined on Friday, with the S&P 500 falling 0.1%, as health-care shares were dragged lower. Energy stocks also struggled as crude slipped below $57 a barrel amid rising tensions in the Persian Gulf.
The yield on 10-year Treasuries punched through 2.4%, joining a spike in European sovereign rates with inflation worries ratcheting up.
In political news, investors assessed the House and Senate tax bills amid concerns the Trump administration’s signature proposal may encounter obstacles.
Europe
Carmakers led the Stoxx Europe 600 Index to its biggest two-day drop since August, with most industry sectors declining. Energy stocks also fell, outweighing a gain in miners.
In bond news, Core euro-area bonds fell for a second day as investors continued to reprice the region’s debt securities. German bunds led the decline as traders judged that the recent rally — which came on the heels of the European Central Bank’s latest policy meeting last month — was overdone.
Asia
In Asia overnight, Japanese shares came under pressure, the Topix index slid for a third day and the Nikkei 225 retreated for a fourth session following gains last week that pushed them to levels unseen since 1991 and 1992 respectively. Chinese shares gained 0.3%.
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